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.

Latest Company News

Download Nautical 2007 Annual Report

Hardman & Co. Research note

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???

The stock has been unloved for the last few months but I still think fair value is considerably higher and shall keep a keen eye on the exciting year ahead.

As a holder, very happy to see 25 and 50 dma's broken today, 200 not far away, nice buying volume today...

Blimey ! this has woken up all of a sudden !

Rumours of a takeout on the other board - link above.

There is bound to be more consolidation in the Oil and Gas world...there are companies out there truly loaded !

Bought npe when they were tipped in SHARES magazine some time ago and happy to hang to them for now. Is anyone with the savvy that I don't have able to explain why npe does not pick up significantly? I understand the disappointment with the last couple of wells but all indicators point to this stock having a true value of around 18p plus?

Opman, you are right, but that could be said for most oilers at present. Punters are running scared and only +tive news and/or bid rumours will drive this up.