EnCore Oil PLC

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

EnCore Oil plc (LSE: EO.) announces that the Company has agreed and completed the sale of its wholly owned subsidiary EnCore Oil Nederland B.V., whose only asset is a 10 per cent. interest in the Amstel field offshore Netherlands for consideration of US$5.5 million, paid in cash. The 10 per cent. interest in the Amstel field is encumbered by royalties payable to the previous operator and to others. The purchaser is TAQA Energy B.V.




Alan Booth, Chief Executive Officer, commented:




'The sale of the Amstel field follows a review of our E&P portfolio with the objective of focusing our capital on those projects that we believe can have a material impact on the value of the Company. Proceeds from the sale, together with the reduction in expenditure required to develop Amstel, will be focused on delivering our planned drilling programme over the next 12 months.'
cyril

EnCore Farms Out Interest in Blocks 210/29a & 210/30a

EnCore Oil plc (LSE: EO.) is pleased to announce that it has entered into a farm-out agreement with Dyas UK Limited ('Dyas') whereby Dyas will acquire a ten per cent. interest in northern North Sea Blocks 210/29a and 210/30a from EnCore. EnCore will retain a 16.6 per cent. interest in the licence.
cyril

For immediate release: 24 September 2008

Esmond Well Spuds

EnCore Oil plc (LSE: EO.) is pleased to announce that the Esmond field pressure test well has spudded. The Energy Enhancer jack up rig is drilling the well which is located on UK North Sea Block 43/13a.

The Esmond evaluation well is required to confirm that the underlying reservoir pressure has not risen significantly since the field was depleted and abandoned. Drilling operations are expected to be completed in approximately 21 days.

As part of the commercial arrangements between Star Energy (now a subsidiary of Petronas) and EnCore, Star Energy will bear the entire cost of drilling of this well. EnCore has a 50 per cent. interest in the project and Star Energy, the operator, also has a 50 per cent. interest.

cyril

For immediate release: 24 September 2008

Esmond Well Spuds

EnCore Oil plc (LSE: EO.) is pleased to announce that the Esmond field pressure test well has spudded. The Energy Enhancer jack up rig is drilling the well which is located on UK North Sea Block 43/13a.

The Esmond evaluation well is required to confirm that the underlying reservoir pressure has not risen significantly since the field was depleted and abandoned. Drilling operations are expected to be completed in approximately 21 days.

As part of the commercial arrangements between Star Energy (now a subsidiary of Petronas) and EnCore, Star Energy will bear the entire cost of drilling of this well. EnCore has a 50 per cent. interest in the project and Star Energy, the operator, also has a 50 per cent. interest.

cyril

FDP Approved for Ceres Field

EnCore Oil plc (LSE: EO.) is pleased to announce that the Department for Business,
Enterprise & Regulatory Reform (BERR) has approved
the Field Development Plan ('FDP') for the Ceres field (formerly known as 'Barbarossa')
located on UKCS block 47/9c. The field, operated by
Venture Production plc, will be developed as a single well sub-sea tieback jointly with the
nearby Eris discovery (formerly known as
'Channon') with first gas currently planned for mid-2009

And several more updates due in the coming weeks.

cyril

reminder of what we can expect over the coming weeks,

For immediate release: 16 September 2008

EnCore Oil plc ('EnCore' or 'the Company')

EnCore Announces Results for the Year Ended 30 June 2008

EnCore Oil plc (LSE: EO.) is pleased to announce its results for the year ended 30 June 2008.

Highlights

Over the past 12 months, EnCore has been focused on delivering on its principal strategy of value creation. Highlights of the year include:

Ongoing drilling programme delivers success and offers further potential

Breagh successfully tested, showing potential for sizeable gas accumulation; further appraisal of Breagh commenced in August 2008 with East Breagh appraisal well and second well planned in September 2008 with West Breagh appraisal/ development well.

Cobra tested gas at sub-commercial rates without stimulation but confirmed sizeable gas column; feasibility study initiated to review the well results for a prospective well stimulation programme.

Barbarossa well confirmed presence of gas and horizontal well tested gas at a maximum rate of 40 million standard cubic feet per day; production could commence as early as second quarter of 2009.

Schull and Old Head wells successfully tested gas. Further evaluation of the commercial potential of these discoveries is taking place.

Rig secured to drill Bowstring East (also known as 'Cladhan') in October 2008, a light oil target in a large stratigraphic trap.

Success in the UK 13th Landward Licensing Round and further licence award onshore France

Awarded two licences in the UK 13th Landward Licensing Round covering four blocks and part-blocks providing additional opportunities for exploration upside.

Awarded onshore licence in the Nes area of France.

Balancing our portfolio for risk, opportunity generation, and monetisation

Formed new joint venture partnerships with Wintershall, Revus Energy and Fairfield Energy.

Post balance sheet event: sold Amstel asset in the Netherlands for US$5.5 million in cash to focus our capital on key strategic areas.

Raised 12.5 million through an institutional placing to support drilling and operations activity

Working to return the value of offshore Gas Storage directly to shareholders

Feasibility study confirmed the technical and potential economic viability for 145bcf of gas storage at Esmond and Gordon.

Gas storage option exercised by Star Energy to become operator and increase equity to 50 per cent.

Appointed N M Rothschild to assist in evaluating gas storage options following interest from a number of parties.

Drilling operations to commence on Esmond pressure test well in September 2008. Once the results of this well are known, and assuming they come within the expected range of outcomes then it is likely that EnCore will seek to sell its 100 per cent. subsidiary, EnCore Gas Storage Limited.

Michael Lynch, Chairman, commented:

'2008 has seen us focus our attention on the delivery of our strategy, the key elements of which are to maximise the potential of our assets and to monetise them at the appropriate time to create the greatest shareholder value.

'Looking ahead, we have a number of wells to be drilled in the coming year including East Breagh (currently drilling), West Breagh, Catcher and Bowstring East (also known as 'Cladhan'), and of course, the Esmond well. We are excited by this forward drilling programme and look forward to reporting the results in due course.'
cyril

jeepers ... what is it about modern schooling that does not teach its children how to paraphrase or make a synopsis??!!

Excellent news.

EnCore Farms Out Interest in Blocks 28/9 & 28/10c

EnCore Oil plc (LSE: EO.) is pleased to announce that it has entered into a farm-out agreement with Revus Energy (UK North Sea) Limited ('Revus') whereby Revus will acquire a 20 per cent. interest in central North Sea blocks 28/9 and 28/10c from EnCore. EnCore will retain a 15 per cent. interest in the licence.

Under the terms of the farm-out agreement, Revus will contribute to the costs of drilling the 'Catcher' exploration well on a promote basis with drilling likely in early 2009. As a result of this farm-out agreement and our original agreement with Oilexco, the current licence operator, it is expected that this well will be drilled at no cost to EnCore.

This agreement is subject to the usual regulatory consents, including BERR consent.

Alan Booth, Chief Executive Officer, commented:

'We are pleased to be able to offer our shareholders exposure to further potential value adding opportunities with little or no capital exposure. We look forward to drilling the Catcher prospect in 2009.'

cyril

EO could easily prove to be one of the E&P stocks that either doubles or collapses over say the next 12 months ..... i hope the former