EnCore Oil PLC

Agree the SP will take a hit today, though i see the longer position as being positive. A sucessful drilling result wil imo double the value of the G/Storage.
cyril

i was wondering whether it might be a prelude to a t/o offer .... anyway, looks like we shall not have anything to digest until Q4

Ouch, 41/42p range, great buying opportunity imo?
cyril

you can now buy at about 39 ..... no hurry to jump in, though perhaps ther may be a quick trading opportunity

42.5/43.2P is the range i have on my screen at this minute,theirs no way i would sell at these prices(more likely to add). This news could would increase value to the
G/Storage,so perhaps a clever ploy, who knows? For me, its now the time to buy as with serveral interested (and petronas were happy to buy STAR prior to a further drill)parties we could even see an offer emerge in the very near future?
aimo
cyril

Quite a drop but now picking up. I would say that Encore's reticence could add value when all said and done, i.e. get more for the gas storage business. If that is the case then that's a big FAIR PLAY in my book. I wonder if she will have recovered all her losses by the end of the day?

my call sure was right, as in the 10/15 minutes it took me to walk from home to the office and open up, sp had jumped to 43.25 ..... but i didn't buy!

dont leave it too late cynic its 45p now your call.

i already hold and shall continue to do so ...... mere greed passingly tempted to buy more this morning

what an interesting performance by EO. today .... having been hammered 25% first thing, sp has now recovered all but 10% - i.e. barely -3p since last night's close

I tried to buy these at .38 this mornning - but Barclays let me down as they were unable to load on line accounts - shame - opportunity passed now I think

you would have had to move very smartly, as that sort of price was only around for 10/20 minutes ..... that's the advantage of IG and the like, where you are much more likley to have a personal contact

thing are very quite all around today.might pick up near the us open.

Down just 3.5% now, of course the only thing which changed was time frame,
coupled with their intention to drill, hardly negative?
cyril

yes, and 13 million trades.

i never checked this out till afternoon....jes, what a commotion in the morning, i'm glad i stayed in bed in morning and missed it as market over-reacted as usual. as u say cyril, they have delayed it a wee bit but thats only to ascertain proper value cos of drilling......maybe these market boys in the city need to get out in real world and do a proper job and understand a business....mind you so could gordon brown

normally, a delay of about 6 months would have quite a devastating effect, as indeed happened first thing ...... i can only rationalise that someone thinks there is a very strong chance that the drilling results will enhance and may even precipitate a full t/o

and i think they have a lot of other wells to drill over next 12 months too......this can only go up in my view apart from turbulence in the market

Don't lose sight of the fact that this sends a signal to the number of industrial
participants, who have shown "strong interest". Bid now or risk paying a whole lot more in 6 months? A ploy to force their hands, maybe?
cyril

no .... i think EO. board have been advised by Rothschild's to take a calculated gamble, and/or they already have a conditional offer in the drawer

Nice,
http://www.investegate.co.uk/Article.aspx?id=200804160700324177S
cyril