I published most of this share tip article earlier on my Nifty Fifty website – where I shall publish a new share tip later today: The Zeadyus-2 well in Guyane has not found commercial oil and has been abandoned. The share price of Northern Petroleum (LSE:NOP) has duly slumped by 14% to 54.75p. This is a total market over-reaction. I have discussed this at length with exploration manager Graham Heard and CEO Derek Musgrove and here’s the score. The shares remain a buy. The same cannot be said for Wessex Exploration (LSE:WSX) which like Northern also has a 1.25% stake in this field.
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