Northern Petroleum has completed the previously announced sale of the UK assets for £1.5 million. The consideration was settled entirely in cash.

The company previously announced that the UK assets and licences comprise the 10 and five per cent minority interests in the Horndean and Avington producing fields respectively, 50 per cent interests in the Markwells Wood and Baxters Copse discoveries, and a 65 per cent interest in a licence offshore the Isle of Wight.

Tags: Northern Petroleum