EnCore Oil PLC

hyloe, but why has the sp taken a rocky ride recently

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for Jameel! ...... This does not look to be an uninteresting company, though it is very new to market ..... However, it has acquired some decent (they hope) drilling rights which is a good start .... Nevertheless, as you should remember from ELP, it is a long long way from having rights to getting the stuff out of the ground.

To be honest, if choosing a low priced oilie, I would rather put my money in MRP or SEY or even CHP (more risky imo) ...... and for a fossil-fuel alternative, GTL

17.03.2006 - Trust ENCORE to do it again - GE INVESTORS!
Regardless of whether crude prices go up or down, you can always make good money in the oil sector by backing proven management who have shown themselves capable of building up production year after year. We saw this again recently with Roy Franklin agreeing the sale of PALADIN RESOURCES for 355p per share. You could have bought these for under 75p little more than 3 years ago. Harry Wilson is another serial company builder and his STERLING ENERGY is already up to 24p compared with 2p at the beginning of 2002. Once you have built up a public oil company and rewarded yourself and your backers by selling out, it is not difficult to assemble a portfolio of prospects and get brokers and bankers to finance exploration and development. The trick for small investors is to get in as early as possible. It is not surprising therefore that the respected oil analyst at KBC Peel Hunt, Tony Alves, has called Alan Booth's latest vehicle, ENCORE OIL, a " big bird hatching". As the former MD of EnCana UK, Booth and his team were responsible for discovering the Buzzard Field, the biggest North Sea find in 25 years. After a marvellous 8 year run, EnCana was finally bought by Nexen for $2.1 billion. Booth is joined at Encore by another big hitter, Michael Lynch, who takes over as Chairman. Lynch has already built up and sold 2 major oil companies, Santa Fe and then Saga Petroleum both in $ 1 billion + deals. The two men have assembled a useful portfolio of both exploration and development properties which they have reversed into Oil Quest Resources since aptly renamed Encore. The shares were requoted a couple of weeks ago at around 30p and have since crept up to 34p. Booth and Lynch inherited from Oil Quest interests in a dozen onshore UK licenses and one offshore gas license. In addition they themselves have brought in half a dozen undeveloped North Sea discoveries and a 25 % interest in 2 pure exploration plays, one of which is the exciting Golden Eagle prospect which will be drilled later this year. The 2 men have definitely hit the ground running. Within a couple of weeks of being requoted, Encore has already announced a successful onshore gas well in the Cleveland area and has signed a major offshore licence deal with the government of Western Sahara. We expect Encore's North Sea activities to drive strong production growth over the next few years and there should be plenty of solid news flow for shareholders to get excited about. As always with oil companies, it's the personnel that counts and they dont get much better than this team. The current market value of Ł60 million could look very historic in 2 or 3 years' time. You can read more about Encore on the company's excellent website at www.encoreoil.co.uk and even arrange to receive their newsletter.

Cynic thanks! for your time

Jameel
Many thanks for your latest posting, though it does read like a placed editorial - the article that is, not your posting of same! I confess I do not agree that the major asset of an oil company is its personnel; a company's major asset is its ability to find and extract oil, a virtue (or luck!) which is only partially dependant on its personnel. The article also avoids mentioning that the majority of mini-minnows actually fail (as imo, will happen to ELP).

As with my own business (not yet dealing direct in China), and also my investment in the likes of VOG, I am more than happy to enter the fray what would appear to be rather late in the day. IMO, the risk of a bad pick is then considerably reduced and the profits available much more than adequate.

that makes real sense. I am very new to all this, so on a steep learning curve. Will take your advice! I always thought SEY was a good option as it had successful oil finds! But had to come out for other reasons. Just contemplating what to do with parts of my next salary. I might consider SEY again, although it seems it has reached its peak!

From NOP news today. Encore has 10% stake in PEDL 126 & PEDL 155

UK ONSHORE

Northern has a portfolio of exploration, appraisal and production interests in
south east England. Near term activity will be focused on the Group's Weald
Basin assets, upon which Exploration Consultants Limited ("ECL") issued a
report during April 2005. The reserve estimates set out in that report were as
follows:

Gross reserves Proved Proved + probable Proved + probable
+ possible

Oil 1.27MMstb 3.6MMstb 26.5MMstb

Northern anticipates drilling, as operator, one appraisal well within PEDL 126
and one exploration well in PEDL 155. It is also involved, holding a 5%
interest, in the further appraisal of the Avington discovery. Northern will
also continue to further progress its other operated licences with a view to
adding to its inventory of future appraisal and exploration wells.

the fall in stock value is well overdone, with the drilling expected by apache
on block 19/1 in north sea second half of the year, the share price should increase
up to drilling, and if the well comes in , well the share price will go up considerably.

SG - BUY BUY IF YOU CAN. Directos seem ot have topped up. i will be buying on fri

alot of director buying and institutional investors. Why? Drilling is due to commence!

Price today 24 - 26p +1p

Had a very good week, as it has risen every day

It has done the proper head & and Shoulders so far

have just been put onto this stock ..... what's the story?

Do you still have an LSE account cynic? Take a quick look over there on EO. at the Westderdale 1 results, there is the possibility of more conclusive results coming although it was slated as appearing in October... There is also the latest round of North Sea licenses due to be announced this month.

I bought these at 15p over a year ago and have been sitting on them ever since as a more long term investment.

gbrown, I am glad that some1 has finally caught on!

Second haLF 2006 WILL BE THE MOST PROMISING GOLDEN EAGLE COMES ON BOARD! alot of potential..look at the my earlier posts

Anyone else have any views on this very recently floated company? ..... UBS seems to hold 11%, but NMS is only 5000

I'm in. When we get closer to drilling on Golden Eagle we will see the price move in anticipation. The moves of the last few days are not convincing - all based on very low volumes. Look at today's drop on pathetic volume. It's just the MMS responding to a few PI sellers. I think that they are just trying to keep balanced books and not pay over the odds to willing sellers.

when is Golden Eagle due to spud? can spot no reference

cynic, no specific date. The company has only said 'second half of 2006'. This could in fact mean anything uo to 31st December!..... So prob. i'm no help! It prob. useful to look atr Eo.'s cash reserves they are huge! Apache will be drilling I assume Oct?

Just a refresher for eo. holders. U experts will already know most of this. Some points to note from the Hoodless Brennan findings:

Encore is more than just the North Sea: Remember it has the Laguera Block adjacent to Mauritania (look what happened to SEY when they explored in Mauritania). Also this block is only 175km to the south of Pelican Gas Discovery.

I believe Encore will be involved in some sort of M&A activity depending on its success. If management feel uncomfortable with likely chance of oil discovery they may sell out early if they dont then they WILL STILL SELL but much later. Why do I say this? Well look at the career resume of all the Directors:

Alan Booth; Co-founder of EnCore; former chairman and Managing Director of EnCana UK (sold to Nexen Corporation for US$2.1bn)

Finance Director of EnCana UK responsible for mergers & acquisitions including the sale of EnCana to Nexen. Has had over 20 years experience in the oil industry including Head of Group Finance at Enterprise Oil as well as mergers & acquisitions
experience.

Former Chairman and CEO of Intrepid Energy which was sold in 2004 for US$1.2bn.

The team have good contacts with North Sea oil majors Hoodless Brennan article

Is Encore cash rich?

In short term Encore is cash rich, post its 17.5m raising it will have 19.5m (29% of the market cap). This should reduce by approx 10m over 2006 due to work programme activities. EnCores 9.1m drilling budget has been fully funded
via a 17.5m new equity raising at 15.625p per share leaving it cash funded at least to 2007.

The total unrisked contingent resources of the Petro-Canada licences being acquired by EnCore Petroleum are 24.3m bbls. Further appraisals could result in substantial upgrades to the resource definition of these properties (which are
being sold for just US$1.75m).

NB: Next Results: Finals, September 2006