🕐25.04.13 - 09:27 Uhr

NORTH AMERICAN PETROLEUM: PARTICIPATING IN 4 WELLS TARGETING THE MISSISSIPPI LIM
E OIL PLAY IN OKLAHOMA - ON COURSE TO HIT 25 WELLS WITHIN 12 MONTHS



North American Petroleum Plc/ Index: ISDX / Epic: NAPP / Sector: Oil & Gas 25 April 2013 North American Petroleum Plc (NAP or the Company) Update on Operations in Mississippi Lime Formation, Oklahoma North American Petroleum Plc, a company focussed on developing its interests in proven US onshore oil and gas formations, is pleased to provide an update on its activities in the producing Mississippi Lime formation in Oklahoma, in line with its strategy to build net production and reserves by acquiring and developing a portfolio of leases in liquids rich hydrocarbon plays in onshore US. Existing well updates The Company has been informed by the relevant operators of a change in status in the following wells in which it is participating: Well Formation Status NRI % Operator
McClure 36-2H Mississippi Lime, Oklahoma Waiting on initial production 0.0552 Highmount Miss Frank 1-6H Mississippi Lime, Oklahoma Drilling 2.79 Devon Energy Wolf 1H-25 Mississippi Lime, Oklahoma Drilling 1.25 Highmount
Participation in new well The Company is pleased to announce that it is participating in the following new well: Well Name Targeted Formation Operator NAPs WI/NRI Net Cost to NAP NAPs NRI (BIAPO*) ? 1-08HM Mississippi Lime, Oklahoma Devon Energy 0.464%/ 0.371% US$17,290 0.278% *Back in after Pay Out - Under the terms of the farm down announced on 11 April 2013, upon pay-out (i.e.

when drilling costs have been recovered) 25% of NAPs NRI will be reassigned (Back-in) to Magnolia Petroleum (AIM: MAGP) North Americans Managing Director Stefan Olivier said, "We have made a good start towards meeting our 12 month target of having interests in 25 producing wells in proven onshore US formations.

Rapidly building net production is a key plank of our strategy as it allows revenues generated to be reinvested into drilling new wells and can also go towards funding the acquisition of additional leases.

Since our IPO in March, we have acquired 416 net acres in the Mississippi Lime holding a possible 207 well locations.

The four wells listed today are among the first we will be participating in and, subject to the results, will help prove up the reserves on our existing acreage, as we look to deliver on our objective to create significant value for our shareholders."
**ENDS** For further information and the full Admission document visit www.napetroleum.com or contact the following: Stefan Olivier David Coffman North American Petroleum Plc Keith, Bayley, Rogers & Co. +44 (0) 7595 770520 +44(0) 203 100 8125 Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Lottie Brocklehurst St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Notes North American Petroleum Plc acquires leases in producing onshore US formations such as the Mississippi Lime, Oklahoma, where the application of new techniques and technologies such as horizontal drilling and fracture stimulation can dramatically improve recovery rates.

Revenues generated out of production are reinvested into both new wells and into the acquisition of additional leases to build a portfolio of producing and undeveloped assets focussed on lower risk oil rich plays.

To date, NAP has acquired 416 net mineral acres in the liquids rich Mississippi Lime play and has interests in five producing wells and a further five either drilling or waiting to spud
[cid:image001.png@01CE418D.63107460]



Products & Services | Jobs