EnCore Oil PLC

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

Very little responce to the latest news, surprising, just 2000 traded.
cyril

From today's Times:

Rumour of the day
Dana Petroleum's discovery of oil in the northern North Sea might be good news for EnCore Oil, which has rights to the block immediately south of the sector in which Dana struck oil. EnCore, which recently shelved the sale of its offshore gas storage project, expects to drill its Bowstring East project this year or next. It closed up p at 45p.

Seems little interest here? released yesterday,
http://www.investegate.co.uk/Article.aspx?id=200805120600031468UNow some on here might be a bit cynical(pun) who would take the line that
the 14 day testing time scale with a not to glossy picture could have something to do with the fact the "Blocks"next door are up for bids closing date 21st May?
cyril

rising nicely I hope it continues next week as I'm new to this one.

Loads of potential here,with the Gas Storage being the jewel in the crown.
cyril

why would the following knock the price by 10%? ......

EnCore Oil plc (LSE: EO.) announces that the EnCore operated 'Cobra' gas
appraisal well 48/2c-5 ("the well") on Southern North Sea block 48/2c has now
completed testing. The well tested at a maximum unstimulated dry gas rate of 1.1
million standard cubic feet per day with a flowing tubing head pressure of 230
pounds per square inch through a 32/64 inch choke. The gas was produced from
the Rotliegendes Sandstone through four and a half inch sand screens across the
entire interval from 11,189 feet and 11,683 feet measured depth below rotary
table.

answer .... it was a temporary blip

further detail as below, gives a slightly confusing signal ......

EnCore Oil Plc. said it is suspending its Cobra gas appraisal well on UK North Sea block 48/2c after testing showed that the unstimulated gas rate is not commercial.
The company said the suspension is pending further evaluation of the most effective well stimulation technique.

EnCore CEO Alan Booth said: 'We are naturally disappointed that the well would not flow unstimulated at 'commercial' rates. The results of the well have however given us greater confidence that Cobra contains a significant volume of gas in place.'

Some good news at long last!!! Here we go1

Looks like we might be due a bit of news here. Lets hope it's good!

A million! This baby is gonna finish the day higher!

0.0025 probably!
time the damn thing came back to life in a meaningful way