Nautical Petroleum plc is an independent hydrocarbon exploration and development company listed on the London AIM. The company's mission is to acquire, develop and add value to discovered heavy oil, initially on the United Kingdom Continental Shelf.

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Download Nautical 2007 Annual Report

Hardman & Co. Research note

pb - 2 years ago I knew diddly squat about HTML. You kind of pick it up as you go. One way is trial and error and you might like to start a thread with the epic "HTML" or "Test" or whatever to try things out. If you right click on a blank part of the screen, then click "view source", a text document opens showing all the code on that page. Hunt through for what you want and cut and paste into any text editor (I use NotePad). When you think you have it right, try it out on your test thread.

Have fun!
regards
sw

i find it very difficult to get excited about heavy oil producers - see BLR for a salutary lesson! - so while NPE looks to be better than many or even most, the longer time chart that i produce below shows the current level may be difficult to breach, with what looks like further congestion and resistance at 14 ..... that said,there looks to be good support around 12.5

Thanks cynic

You thoughts are always appreciated.

RNS says Mermaid well a disappointment.

It's a duffer! (SURPISE SURPRISE!)

Bit of a blow..we'll just have to tread water untill the next drilling results.. let's hope there better than todays !


Nautical Petroleum PLC
10 December 2007


Immediate release 10th December 2007

Nautical Petroleum plc

('Nautical' or 'the Company')

Mermaid well result

Nautical Petroleum (AIM:NPE), the developer of heavy oil interests in the UK and
Europe, announces the results of the 9/11c-13 Mermaid exploration well, the
second well in the campaign after the highly successful Kraken appraisal well.

Well 9/11c-13 was drilled to 5113ft ss and encountered excellent quality sands
at Tertiary Heimdal and Maureen level. All depths were very close to prognosis,
however, both the main Maureen target and the secondary Heimdal objectives were
water wet.

Nautical (Operator) will assess the data gathered from the well and integrate
with the 3-D seismic to ascertain the future potential of the block.

The interests held in 9/11c are Nautical Petroleum 50%, Celtic Oil Limited (
wholly owned by SK Energy) 40% and Silverstone Energy Ltd 10%.

Commenting on the well result, Steve Jenkins, Chief Executive of Nautical said:

'This is a disappointing result, especially following the Kraken (9/2b-2)
appraisal which proved a larger oil accumulation than our maximum case.

'We look forward to continuing our extensive drilling campaign with the spudding
of the Grenade -3 appraisal well in January and the Selkie (Block 8/25a) well in
the second quarter of 2008.'

Disappointing and clearly a lot of insider trading today by the looks! That said whilst we may see an initial further fall I would say the price is well supported at this level just for Kraken so I intend to stay put for further developments.

Oh well.

Inevitable recent purchasers getting out but all looks overdone to me. Hopefully we'll see the rest of the day with the price coming back. I would say this is cheap just for Kraken but perhaps the market initially will try tactics to mark it lower.

Buy at 7p? A bit to go yet then.

Won't get there.

This is why:-

Key points:-

Our new post-drill estimate for Kraken alone is for a minimum of GBP170m or 13 pence/share roughly equivalent to our previous core valuation for all of Nautical discovered assets. Upside is still expected when a full evluation of Kraken is complete.

Our new discounted core value for the discovery portfolio is now just north of 22 pence/share. Adding in exploration upside brings our new total risked EMV to 1.6p/share prior to drilling at Mermaid.

Should the forthcoming Mermaid exploration well prove up the discovery (and assuming this at least halves risk), we estimate it should add an additional 3.7 pence per share to Nauticals core assets; bringing our core valuation up to
around 26p with an overall valuation up to 35.3 pence per share.

Trading at around 13.25 pence per share, the bulk of the discovered portfolio and the whole of the exploration portfolio is effectively free at this market price.

Year To June Sales Earnings Before Tax Adjusted

http://www.capmarkets.com/ViewFile.asp?ID1=81667&ID2=187365033&ssid=1&directory=12925&bm=0&filename=Nautical_Nov07.pdf

KBC Peel Hunt coming out saying sp trading at 50% discount to NAV of 23p

Spud Dates - Grenade 3 - is early January 2008

sorely tempted to top up if still at these levels when more funds become available next week...

KBC Peel Hunt

Nautical Petroleum (NPE) Unsuccessful well on Mermaid EST: No Change, REC: Corporate#
Nautical has announced that it has completed the exploration well on Mermaid without finding potentially commercial hydrocarbons. Clearly it would be better to announce a discovery although in fundamentals it does not change anything for the company: the majority of the well costs were covered by partners, and the result has no implications on either of the companys key assets, the Mariner and Kraken fields.

This well was drilled immediately after the highly successful appraisal well on the Kraken field which indicated a far larger accumulation of oil of a higher quality than
presumed prior to drilling. At the current share price, Nautical is trading at close to a 50% discount to Core NAV of 23p/share. The company will continue to have a high level of activity into 2008 with planned exploration wells on the Selkie and Catcher prospects an appraisal well on Grenade onshore southwestern France as well as a further pre development work programme on the Mariner and Kraken fields, which may include tested wells on both.
Meanwhile, there should be a significant upgrade in the reserves and resources as new data on these fields is reflected in subsequent evaluations.
Tony.Alves@kbcpeelhunt.com / +44 (0)20 7418 8813

Director increasing stake, albeit a small investment.

Inevitably the sp is heading back where it was pre Mermaid.

Usual knee jerk market reaction.

Hardman & Co. December Note on Nautical

Thanks for the Hardman update

AGR Group Secures Transocean Prospect for 7 More Months
Tuesday, January 15, 2008

Oil services company AGR Group announces that its contract for the Transocean Prospect has been extended through to September 2008. With the semi-submersible AGR will manage at least 5 additional wells for clients Antrim, Bow Valley, Granby and Nautical in 2008. The combined project value of the extension to the rig contract is over 70 million.

AGR is now managing 8 rigs across the globe.

Head of well management Ian Burdis commented, This is a sign of AGRs strong presence in the rig campaign market, and the depth of its well management client base. Where there was excess capacity for a rig in the North Sea, AGR was in a position to put together a group of clients in a campaign and secure for them that rig, which in this case was the Transocean Prospect.

With eight rigs now being simultaneously managed globally, AGR has established its credentials as a major independent well management group with significant capability

At the conclusion of the new contract in September 2008, the Transocean Prospect will have been contracted to AGR Group for 16 months.

When the Transocean Prospect was offered to the market by AGR at a competitive day rate, it was heavily oversubscribed, reflecting the unmet demand amongst small to medium operators for a rig and well management package.

Hugh Mackay, Business Development Director commented, We will be seeking to add to our roster of rig campaigns throughout 2008 to satisfy our clients clear, ongoing requirement for our well management skills.

http://www.oilvoice.com/n/AGR_Group_Secures_Transocean_Prospect_for_7_More_Months/70c06fca.aspx

Hardman Monthly