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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Hardman & Co. Research note

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

Anyone else been buying here recently??? with proven reserves which indicated these as a bargain at 12/13p i feel the recent market fall out makes these a steal at present levels...

Also Grenade 3 will reach target in next few days. NPE 22%.

Well sp has dived here, I'm in until this comes right, should come good Big Ted.

Took profits here this morning @9p and glad so far as sp has taken a further tumble, 8p mid indicated as intraday low, bought a tad early last week and paid 8.2p when another half hour later it dropped to 7.75p to buy, that is the level i am looking for this time...

Why are they falling with Grenade 3 drilling results due in next few days?

If Grenade 3 comes in right, the sp should bolt above 10p, BigTed might have taken profits too soon, by the way you can only trade this one in and out inside a Sipp, (don't forget the 30 day rule).

Adding to the previous post or on the bet spreads !

ah that was just normal trade, (not CFD) on a T20

Moving up ahead of RNS.

This one is counterbalancing my bad ITM position, what a start to the week !

not quite the RNS we were expecting was it ?

Grim isn't it?

Nautical Petroleum PLC
13 February 2008


For Immediate Release 13 February 2008



Nautical Petroleum PLC


('Nautical' or 'the Company')


Result of Grenade-3 Exploration Well


Nautical Petroleum Plc (AIM:NPE), the heavy oil development company focused on
the UKCS and Europe today provides an update on the results of the Grenade-3
exploration well drilled in the St Laurent Permit of SW France. Nautical holds a
22% working interest in the license, while Egdon Resources plc ('Egdon') is the
Operator.


The Grenade-3 well spudded on 10 January 2008 and reached a total depth of 2310
metres on 10 February. The target 'Vraconian' limestone interval was penetrated
21m up-dip of the Grenade-1 discovery well. However, coring and logging have
indicated that the target interval had no effective porosity and as such was not
hydrocarbon bearing. The Grenade-3 well has therefore been suspended and the rig
demobilised whilst detailed analysis is undertaken of the core data and the
results incorporated into the field model. The option has been retained to
target other areas of the Grenade prospect via a sidetrack from the Grenade-3
well.


The Grenade-3 well was drilled as a 1.6 kilometre step-out to Grenade-1, drilled
by Elf in 1975 which found a 97m column of 10 degree API oil. The Grenade heavy
oil accumulation is mapped as a three-way up-dip pinch-out of the reservoir on a
low energy carbonate platform. Grenade-3 has defined the eastern limit of
reservoir development within the structure with potential still existing to the
west and south around the Grenade-1 well and also northwards towards the
Maurrin-1 well.


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


'The Grenade accumulation still has upside potential, which we will be reviewing
with the operator over the coming months. Nautical continues to prepare for its
next phase of drilling on the UKCS, which is anticipated to commence in late
April with the Selkie exploration well.'


Mark Abbott, Managing Director of Egdon also commented:


'The lack of reservoir development in the Grenade-3 well is disappointing and
has defined the eastern limit of the Grenade stratigraphic trap. We will now
incorporate the results of this well into our geological and commercial models
prior to determining any future work programme. Egdon remain committed to
exploration in France and will be focussing on understanding the implications of
this well and also progressing our evaluation of the multi-TCF potential
Audignon Anticline gas prospect also within the St Laurent Permit.'

Have to take into account these things happen with e&p's and hedge your bets accordingly.

The brave man stays to the end whereas the fool..........

no .... the fool stays to the end, the brave man bites the bullet

Nothing new but a summary from Pter Shearlock's stock picks released this morning....

Nautical out of luck

Nautical Petroleum has not had a lot of luck in its winter drilling campaign. The latest piece of bad news is that the Grenade-3 well in France proved a dry hole. Nautical has a 22 per cent interest in the prospect.

The shares have tailed back from the 10p at which I tipped them in September last year to 8.63p now but there is some merit in holding a while yet. Attention will now shift to the Selkie exploration well due to spud in the North Sea in April. Hold.

Yes cynic, I suppose it should be your way......... a fool and his money.

Despite the above advice to hold I have left the room while I am still in profit.

I'll watch for a while.

Nothing brave about that, in fact quite cowardly as this is my thread.

slight rise today, hopefully someone can tell me that we have an interest in a well being spudded somewhere, or not, whichever... whatever...

Results due 19th march, maybe rise because thats now within T10's??? Despite Egdon's Granade3 poor drill result, the results will still bear a reminder of the success they had with Kraken...

Have just noted a couple of rather large purchases, totaling 1.9 million shares, are we expecting drill results somewhere with an interest???