NORTHERN PETROLEUM PLC

Glossary

2C

Mid Value contingent resource

2D, 3D

Two/three dimensional

2P

Proven plus probable reserves

$

US Dollar

AGM

Annual General Meeting

AIM

The Alternative Investment Market of the London Stock Exchange plc

B, b – defined as 109

Billion

boe (barrels of oil equivalent)

A term used to summarise the amount of energy that is equivalent to the amount of energy found in a barrel of crude oil.

bbls

Barrel(s)

boepd

Barrel(s) of oil equivalent per day

bopd

Barrel(s) of oil per day

bcf

Billion cubic feet

CAD

Canadian Dollar

Early Cretaceous

The Early Cretaceous, or the Lower Cretaceous, is the earlier or lower of two major divisions of the Cretaceous. It is usually considered to stretch from 146-100 million years ago.

EIA

Environmental Impact Assessment

Eni

Eni S.p.A

ERCE

ERC Equipoise Limited

EU

European Union

FCA

Financial Conduct Authority

FRS

Financial Reporting Standard

GAAP

Generally Accepted Accounting Practice

GLJ

GLJ Petroleum Consultants Ltd.

HSE

Health, Safety and the Environment

IAS

International Accounting Standards

IFRS

International Financial Reporting Standards

ISIN

International Securities Identification Number

ISO 14001

International Standards Organisation Environmental Management standard

 

Km

Kilometre 

KPI

Key Performance Indicator

KPMG

KPMG LLP

Late Jurassic

The Late Jurassic is the third epoch of the Jurassic Period, and it spans the geologic time from 160-145 million years ago, which is preserved in Upper Jurassic strata

mmbbls

Million barrels

mmbo

Million barrels of oil

mmboe

Million barrels of oil equivalent

mmscfd

Millions of standard cubic feet per day (of gas)

Northern or the Group

The Company and its subsidiaries, Northern Petroleum Plc

OHSAS 18001

British Standard for Occupational Health and Safety Management Systems

Probable

Probable reserves are those unproved reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable in this context and when probabilistic methods are used, there should be at least 50% probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable reserves

Prospect

Potential or actual drilling target that is well defined by seismic data and / or log data with sufficient level of detail for the evaluation of economic viability

Proven

Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions

Reserves

Estimated remaining quantities of oil and natural gas and related substances anticipated to be technically and economically recoverable from known accumulations, as of a given date

RPS

RPS Energy

scf

Standard cubic feet

scfd

Standard cubic feet per day

Shell

Shell E&P France SAS

Shell Italia

Shell Italia E&P S.p.A

stb

Stock Tank Barrels

STOOIP

Stock Tank Oil Originally In Place

WTI

West Texas Intermediate - a grade of crude oil used as a benchmark in oil pricing

 

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