🕐02.05.14 - 08:27 Uhr

NORTH AMERICAN PETROLEUM: TWO MORE WELLS RECOMPLETED AT PRODUCING US ONSHORE PRO
JECT AS PART OF CONTINUOUS MULTI- WELL 2014 WORK PROGRAMME TO INCREASE PRODUCTION AND RESERVES



North American Petroleum Plc/ Index: ISDX / Epic: NAPP / Sector: Oil & Gas 2 May 2014 North American Petroleum Plc (NAP or the Company) Update on Zink Ranch Project, Oklahoma North American Petroleum Plc, a company focussed on developing its interests in proven US onshore oil and gas formations, notes that Northcote Energy Ltd (AIM: NCT), its partner and operator of the 1,520 gross acre Zink Ranch Project (the Project) in Oklahoma has today announced that two further wells on the Project in which NAP has a 30% working interest have been recompleted with results expected shortly.

This brings the number of wells that have been recompleted to date to four out of a total of 14 planned for 2014, which is part of a work programme targeting a substantial increase in production at Zink Ranch.

This update is in line with NAPs strategy to rapidly build net production and reserves through the acquisition and development of leases in liquids rich hydrocarbon plays. NAPs Managing Director Stefan Olivier said, "Four wells on Zink Ranch have now been recompleted in the space of a week, demonstrating the speed with which this low cost 14 well recompletion programme can be executed.

Results for the four wells in which we have a 30% working interest are now pending, each of which has the potential to materially increase not only our net production but also NAPs proven reserves.

With 10 more existing wells due to be recompleted and two new wells to be drilled at Zink Ranch in 2014, this is an exciting time for the Company and I look forward to providing updates in due course." Northcote Energy Ltds full release Northcote (AIM: NCT) is pleased to announce that it has concluded recompletions on two further wells (54% WI and 45.45% Net Revenue Interest) located on its Zink Ranch Project, in Osage County, Oklahoma.
* Four recompletions completed in total with a further 10 recompletions scheduled during 2014 at Zink Ranch - initial production rates will be provided in due course * Northcote has had its cost for these two recompletions carried by North American Petroleum Plc under the farm-out agreement announced 14 March 2014 * The recompletions access new production at low cost as they involve perforating a new, untapped payzone from an existing well bore * These recompletions are part of 31 planned workovers or recompletions scheduled for in the 2014 continuous work programme across all projects Northcotes Chief Executive Officer Randall Connally said, ""The recompletion of these two wells are a continuation of our 14 well recompletion programme at Zink Ranch.

We look forward to announcing results in the near term and believe that this continuing campaign will make a material contribution toward achievement of our previously stated 250 BOE/d production target. "We are now planning and permitting the remaining 10 recompletions and remain confident that recompletion of all of these wells will be achieved prior to mid-year 2014.

We are additionally working towards initiation of the 2014 new drill programme on Zink Ranch and the Mathis lease and are now starting to bring production back on at both the Libby and Tinker leases (formerly known as the OKE licences) as we finish certain infrastructure and surface work undertaken late last year." The two further wells have been successfully recompleted and placed back on pump, bringing the total up to four.

Results will be provided when load water has been recovered and oil production has stabilised.

This is expected in the near term. B-14 and B-15 are both Bartlesville Producers that were not previously stimulated.

Both wells have now been recompleted in the Pennsylvanian Age Bartlesville Sandstone and fracked. **ENDS** For further information and the full Admission document visit www.napetroleum.com or contact the following: Stefan Olivier Brinsley Holman North American Petroleum Plc Keith, Bayley, Rogers & Co. +44 (0) 7595 779520 +44 (0) 207 464 4090 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 1,523 net mineral acres in the liquids rich Mississippi Lime play and has interests in 31 producing wells and a further eight either drilling or waiting to spud.

The value, as determined by an independent appraisal of NAPs proven reserves currently stands at US$21m and is broken down as follows: 1.

PV10 of US$6.7m (as of 1 November 2012) for NAPs 28.7%/21.65% working/net revenue interest in the Steele and Steinberger wells in Osage County Oklahoma 2.

PV10 of US$10.064m (as of 1 November 2012) for NAPs 24.2%/16.8% working/net revenue interest acquired in the Little Drum Unit in Osage County, Oklahoma 3.

PV10 of US$4.29m (as of 1 September 2013) for NAPs 30%/23% working/net revenue interest acquired in the Mathis Unit in Osage County, Oklahoma
[cid:image002.png@01CECBDD.61F8A860] Frank Buhagiar St Brides Media & Finance Ltd 3 St Michaels Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 0207 236 1177 | Mob: 07788410221 | Twitter: @StBrides1



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