News

July 15, 2009

Northern Petroleum Has A Better Than Expected Drilling Success At One Of Its Six Development Projects In The Netherlands

When AIM listed Northern Petroleum’s Nieuwendijk-1 exploration well on the Andel III licence in the Netherlands turned out to be a duster last month, Derek Musgrove, Managing Director, was disappointed.

Of course he was disappointed. The Netherlands is a core area for Northern and non-one likes to have a dry well, not ever. His mood cannot have been helped by the fact that about the same time, the low risk gas exploration well Savio-IX in the Po Valley onshore Italy, was also unsuccessful. Italy is the other core area for Northern.

But Derek didn’t become suicidal over the upsets. In fact he became rather sanguine. It happens in drilling. Northern has become a full cycle E & P...