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Northern Petroleum

  • BY: Andrew Hore |
  • POSTED: 02/07/2014 |

Northern Petroleum says that dryer than usual weather has enabled it to make better than expected progress with its Canadian assets.

The workover of well 16-19 at the Virgo redevelopment project in north west Alberta was completed ahead of schedule and is currently producing between 100 and 140 barrels of oil per day. The field is currently producing around 200 barrels of oil per day. The re-entry well 14-22 and it will be tied-in to the local gas gathering system later in the summer.

A three well drilling programme should commence in August.

At 25.38p a share, Northern is valued at £24.2m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf

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