StockMarketWire.com - Northern Petroleum [LON:NOP] was a double-digit riser in late trading after its subsidiary Northern Petroleum (UK) Limited signed a farm-out agreement, which includes the agreed terms of a joint operating agreement, with Shell Italia E&P S.p.A., a subsidiary of Royal Dutch Shell, in respect of its Cascina Alberto permit, which is located onshore, north west Italy.

Key terms:

§ Farm out of an 80 per cent. equity interest in the Cascina Alberto permit and transfer of operatorship to Shell

§ Shell will pay US$850,000 in cash on completion

§ Shell will carry Northern Petroleum for the costs of the exploration campaign, which will include a carry on the acquisition of any new seismic until the seismic costs reach US$4 million and a carry on any exploration well until the well costs reach US$50 million

§ Shell have a pre-emptive right over the Company's remaining interest in the Cascina Alberto permit in the event of any change in control at the asset or corporate level

§ Completion is subject to approval of the interest transfer by the Italian regulatory authority.

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Management Resource Solutions [LON:MRS] announces the proposed acquisition of the D&M Group, a manufacturing, wet plant hire and dry plant hire group based in Queensland, Australia.

Highlights:

· Conditional agreement to acquire the entire issued share capital of the D&M Group for a purchase price of A$6.7m (approximately £3.4m) in cash and the granting of 1,700,000 consideration warrants.

· The acquisition is consistent with the growth strategy set out at the time of admission to the AIM Market last year to strategically expand the group.

· The Company has entered into a A$17.113m debt facility which will be used to satisfy the consideration for D&M, replace D&M and MRS's existing borrowing facilities, allow for investment in new plant and equipment and provide additional working capital for the enlarged group.

· Initial consideration of A$6.7m payable on completion with value of stock held by the D&M Group, capped at A$200,000, payable on or shortly after completion.

· The Directors believe the rationale for the acquisition will be immediately earnings enhancing

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Aberdeen-based SeaEnergy [LON:SEA] has been shortlisted as a finalist in the forthcoming BQ Scottish Export Awards to be held in Glasgow on 31 March. SeaEnergy has been nominated under the SME Exporter of the Year category.

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The sector's biggest risers were Caza Oil & Gas [LON:CAZA] and Petroneft Resources [LON:PTR] - up by 20% and more than 11.7% respectively in later trading - while the biggest faller was Hardy Oil & Gas [LON:HDY] - down by more than 16.2%.





At 3:47pm:

[LON:AUR] Aurum Mining PLC share price was 0p at 0.95p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.2p at 6.33p

[LON:CAZA] Caza Oil Gas Inc share price was +1p at 6p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.12p at 8.67p

[LON:DGO] Dragon Oil PLC share price was +6.5p at 545.5p

[LON:ENQ] EnQuest Plc share price was +1.25p at 41.5p

[LON:FOGL] Falkland Oil Gas Ltd share price was -0.5p at 31.75p

[LON:GKP] Gulf Keystone Petroleum share price was -0.25p at 48.5p

[LON:GPX] Gulfsands Petroleum PLC share price was -1.62p at 30.13p

[LON:INDI] Indus Gas Ltd share price was 0p at 85.5p

[LON:MRS] Melrose Resources PLC share price was +0.5p at 15.75p

[LON:NOP] Northern Petroleum PLC share price was +0.55p at 5.95p

[LON:PET] Petrel Resources PLC share price was +0.01p at 3.88p

[LON:PTR] Petroneft Resources PLC share price was +0.5p at 4.75p

[LON:RKH] Rockhopper Exploration PLC share price was +1.13p at 67.88p

[LON:RPT] Regal Petroleum PLC share price was 0p at 4.25p

[LON:SEA] SeaEnergy PLC share price was +0.5p at 28.25p

[LON:XEL] Xcite Energy Ltd share price was -0.12p at 30.13p



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