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

The bid is improving to 9.15p as the volume have been rising once again today

       

Good news today, a reason for the large volume recently.......

Farm Out Agreement
Nautical Petroleum plc (AIM:NPE), the developer of heavy oil interests on the UKCS and mainland Europe today is pleased to announce that it has entered into a farm out agreement with Canamens Energy North Sea Limited ('Canamens') whereby Canamens will acquire a 30% interest in the North Sea Block 8/25a.

Under the terms of the agreement, Canamens will fund their ongoing 30% interest of the current well plus a portion of Nautical's costs.
The farm out terms provide for a $20 million cap on the Selkie well expenses against a current estimate of $16 million.

Following the completion of the farm out Nautical will retain a 30% interest and Celtic Oil Limited (wholly owned by SK Energy) will retain a 40% interest. On completion of the well, and subject to partner and BERR approval, Canamens will take on operator responsibility for Block 8/25a.

As announced on the 12 May 2008, Nautical commenced its first exploration well on block 8/25a, which will assess the Selkie prospect.
Following this and previous transactions, Nautical now has an effective 100% financial carry on the current exploration programme on Block 8/25a.

Nautical is also in advanced discussions with Canamens regarding further farm-out agreements on Blocks 9/2b and 3/27a, and related announcements will be made in due course when appropriate.
Commenting on the farm out to Canamens, Steve Jenkins Chief Executive Officer of Nautical said:

'The farm out on block 8/25a is excellent news for Nautical shareholders, as this mitigates ongoing risk in the portfolio and maintains our cash balances.'
'The discussions with Canamens endorse the quality of our assets, confirm the continuing support for Nautical's strategy on the UKCS, and will align our interests in a number of key exploration blocks.'

Is now moving well ahead 10.50 / 10.75p +1p

11 - 11.25p +1.50p

continuing with the rise and BREAKOUT from the 10.25p intraday

We should be heading immediately to the 12.5p level (and beyond) recently paid by Shincheon.

we should be ! but, usual story, it'll probably pull back...in fact it has already! :(

There we are ....another false dawn! back to where we started from this morning! never fails to go back down after a rise.....still holding long term for but it's difficult!

lol! Absolutely. It will get there and stay there!

"Patience is a virtue"

Make of these what you will. 3 tugs arriving at TO Prospect imminent!!!

http://www.shipais.com/showship.php?mmsi=265835000

http://www.shipais.com/showship.php?mmsi=325246000

http://www.shipais.com/showship.php?mmsi=258148000

A Second Price Monitoring Extension has been activated in this security.


A Second Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price.


The auction call period is extended for 5 minutes.For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com

Would someone be able to explain what this means in laymans terms? Obviously affected todays price positively, which can only be a good thing??

This from today's issue of CompanyGrowth's stock picks...

Nauticals run of bad luck continues

The bad news is that Nautical Petroleums latest North Sea well on block 8/25a has proved dry. The good news is that the company completed a farm-out on the block to a third party just a fortnight ago that means the well came in at no cost to Nautical. Now attention will shift to the Kelpie prospect to the east of the latest drilling. Nautical has had a run of bad luck this year. My advice, if you bought on my recommendation last September at 10p, is to sell at the current 9.5p and move on.

Think I'll stick with this a little longer just in case !

now wish I'd sold at the 9p level... this is now sub 8p to sell and not looking good...can't wait any longer for this ... time to sell this duffer!

Looks like a little activity picking up here...

Didn't sell in the end, although it went sub 8p... wonder why the activity has picked up abit ?

NEWS!

Kraken farmout and appraisal well brought forward.

Hardman & Co note out today - well worth a read:

http://www.esnips.com/doc/e3df2f81-6054-4112-bfbd-995342559dd6/HardmanandCo-18-08-08

(you will need to copy the above to the search bar on your browser)

ENJOY!

Hi steelie, many thanks back in at these silly prices.

Bought in again today, price is attracting healthy buys, and should be at this price!

For Immediate Release
9 September 2008

Nautical Petroleum plc

('Nautical' or 'the Company')

Mariner 3D and OBC seismic surveys completion

Nautical Petroleum (AIM:NPE), the independent exploration and development company focused on heavy oil assets in the UK and Europe, announces that a 3-D seismic survey and ocean bottom cable (OBC) survey have been acquired over the Mariner and East Mariner discoveries and the surrounding blocks.

These seismic surveys are designed to better define the distribution of the shallow Heimdal Sandstone. This reservoir has been penetrated by 16 wells and has flowed up to 1840 bopd on drill stem test. Statoil UK Limited, the new operator of Mariner and East Mariner has successfully utilised these methods to map and characterise the Heimdal Reservoir in the Grane Field, Norway (which currently produces ca 200,000 bopd of heavy oil). The acquisitions represents the first major operational activity over the Mariner area since the Extended Well test in 1997 (which produced 663,000 barrels of oil at an average of 10,000 bopd from the Maureen Sandstone reservoir) and represents a significant step forward towards the planned submission of the field development plan in mid 2010.

PGS acquired 115 sq kms of full coverage 3D seismic with the survey extending over blocks 9/11a (Mariner) and 9/11b + 9/12c (Mariner East), and partly into block 9/11c (Nautical Operated). The survey was completed on 29th June 2008.

An OBC survey was completed by Western Geco on 12th August 2008. A 12x6 km cable layout was deployed on the sea bed and 630 kms sail lines acquired.

The data is currently being processed and results are expected toward the end of the year.

Commenting Steve Jenkins Chief Executive Officer of Nautical said:
'Mariner continues to be a corner stone asset of Nautical and has participated closely in all the technical and operating committees of the joint venture. We are delighted that, under the leadership of the new operator, StatoilHydro, the seismic surveys have been acquired. We believe that this will make a significant step towards the formulation of the field development plan and the achievement of commercial production'