Northern Petroleum Plc

General Meeting

December 2016

Northern Petroleum

These presentation materials (the "Presentation Materials") are being solely issued to and directed at persons having professional

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The Presentation Materials do not constitute or form any part of any offer or invitation to sell or issue or purchase or subscribe for

any shares in Northern Petroleum PLC (“Northern Petroleum”) nor shall they or any part of them, or the fact of their distribution,

form the basis of, or be relied on in connection with, any contract with Northern Petroleum relating to any securities. Any decision

regarding any proposed purchase of shares in Northern Petroleum must be made solely on the basis of the information issued by

Northern Petroleum at the relevant time. Past performance cannot be relied upon as a guide to future performance. The

Presentation Materials are being provided to recipients on the basis that they keep confidential any information contained within

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The Presentation Materials do not constitute or form part of a prospectus prepared in accordance with the Prospectus Rules (being

the rules produced and implemented by the Financial Conduct Authority (“FCA”) by virtue of the Prospectus Rules Instrument 2005)

and have not been approved as a prospectus by the FCA (as the competent authority in the UK). The Presentation Materials do not

contain any offer of transferable securities to the public as such expression is defined in section 102(b) FSMA or otherwise and do

not constitute or form part of any offer or invitation to subscribe for, underwrite or purchase securities nor shall they, or any part of

them, form the basis of, or be relied upon in connection with, any contract with Northern Petroleum relating to any securities.

Disclaimer

December 2016

2

Northern Petroleum Northern

Petroleum

AIM quoted exploration and production company

Growth through production and cashflow

Opportunity of significant upside potential through

unique exploration and appraisal portfolio

Small board and management team with necessary

skills and experience to achieve growth

Low corporate running costs

Existing asset base can create a material business

Production led growth

December 2016

3

Northern Petroleum

Keith Bush

Chief Executive Officer

– led E.ON’s E&P operations in Norway

– 25 years in the E&P industry

– Reservoir Engineer by profession

Nick Morgan

Finance Director

– 13 years corporate finance experience focused on the E&P sector

– broad collection of M&A and ECM transactions in oil and gas

– Chartered Accountant by profession

Jon Murphy

Non-executive Chairman

– over 30 years E&P industry experience

– COO of Venture Production from inception to sale

– Geologist by profession

Iain Lanaghan

Independent Non-executive Director

– over 30 years financing and transaction experience

– previously Group Finance Director of Faroe Petroleum

– Chartered Accountant by profession

The Board

December 2016

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Northern Petroleum

New strategic partner H2P is part of the I-Pulse group

large technology business focused on oil & gas and mining

Asset investment Canada

acquisition of 25% interest in all assets in Canada for $2 million closing conditional on subscription completing option to increase to 50% by end of 2017 for further $4m area of mutual interest to jointly build large production business

Italy acquisition of 10% interest in southern Adriatic permits and

applications for $0.5 million regulatory approval expected in Q1 option to increase to 50% through Giove appraisal well carry capped

at $15 million

Australia 25% interest in Australian onshore exploration permit option to increase to 50% by Q3 2017 through $1m seismic

programme

Strategic investment – asset level

December 2016

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Northern Petroleum

Northern Petroleum

First tranche subscription 124 million shares at 3.5p totalling £4.3 million

H2P subscribing to achieve post issue holding of 29.9%

existing institutional holders participating

Open Offer Open offer of 1 share for every 7 held on 28 November

21.5 million shares being offered at 3.5p

up to an additional £0.8 million

over allotment facility available

Second tranche subscription H2P and Cavendish Asset Management can subscribe for

additional shares to maintain equity interest of 29.9% and 19.0% following open offer up to an addition £0.7 million at 3.5p

Strategic investment – corporate level

December 2016

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Northern Petroleum

Northern Petroleum

Canadian operations in 2017

September 2016

7

Achieve 800 bopd (gross) following winter work programme

Summer programme to test well side track benefits

Subsurface study working on Virgo production capability

Plan next winter programme to achieve 1,500 bopd gross

Northern Petroleum

Southern Adriatic Environmental approval received for seismic

appeals against awards all rejected

finalising prescriptions before tendering

Q3 / Q4 acquisition timetable

Permit application awards expected in Q1

Initiate approval process on Giove appraisal well

Italy in 2017

December 2016

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Cascina Alberto Shell operated onshore exploration

programme progressing

Seismic acquisition programme preparation

Northern Petroleum

Balance sheet Asset and corporate investment will total between $8 to

$10 million

more than sufficient to fund planned capital programme in 2017

2017 production and cashflow Forecast production and net back in Canada to more than

cover total group G&A in 2017

Building a carried Italian work programme Introducing new partners into Italian licences providing:

up to $4 million seismic programme and $50 million exploration well onshore Cascina Alberto

up to $15 million Giove appraisal well (on option exercise)

Financial capability

December 2016

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Northern Petroleum

Successful execution will be transformational for the Company and its share price

Positioned for growth

December 2016

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Company has come through a very difficult industry environment now better positioned for growth

Transformational transaction:

good balance sheet strength to build production and progress Italy

key elements of programmes in Italy and Australia carried

strong financial partner for new ventures

supportive strategic corporate investor

Good opportunity in the commodity cycle to build a material E&P business

Corporate strategy of focusing on low risk production growth combined with the possibility of high returns through exploration and appraisal