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Northern Petroleum – Tosca well abandoned – almost irrelevant

Tom Winnifrith
Friday 7 September 2012

AIM listed oil and gas producer and explorer Northern Petroleum (NOP) farmed out its La Tosca gas play in the Po valley. So its costs in drilling the well were trivial. It was announced today that the well has been abandoned as a write off. In the greater scheme of things this is pretty irrelevant. It might have been worth a couple of pence per share to Northern it is now worth zero pence in total.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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