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

180p.....goodness....

going to drop like a stone for a bit.

Only came in at the middle of the excitement.

Wish some of my oilies would do this!!

I had the choice between the two and have gone for EO......needless to say I should have gone for this one first followed by a switchover to the other...

Buys at 180p.....??

The find is worth between 55M US$ and 75M US$ if you allow a 10 US$ per barrel valuation (given NPE and EO. only have 15%).

Which means NPE will be in the shorters targets tomorrow for sure IMO.

was there a consolidation in s.p. along the way

Can anyone tell me if Edison have put out an upgraded note? I'm looking at taking a position in EO./NPE and possibly XEL and at current putting together some research. Last Edison note said something like 326p value on NPE but this was before they struck oil so I'm interested to see some Edison comment, cheers. Any other North sea oilers for my list by the way?

NPE romping away, better play than EO. atm..

This looked very strong today and made my first purchase. Informed posters? saying these could one day be worth north of 10. 3 will do me.

shocker of an rns.

Market doesn't think it's that shocking, did wonder if a quick sell was needed this
morning but both EO. and this one up at the mo. So will hold for time being.

Here we are..good news:

Catcher East Oil Discovery



Nautical Petroleum plc (LSE: NPE) is pleased to provide an update on the Catcher East side‑track well located in UK Central North Sea block 28/9, in which Nautical has a 15 per cent. equity interest.


The 28/9-1Z side-track has encountered excellent quality oil-bearing sandstones very similar to those in the Catcher discovery well. Preliminary analysis of the wireline logs indicates 82 feet of net hydrocarbon pay over a gross interval of over 236 feet, with an average porosity of 34 per cent., average hydrocarbon saturation of 89 per cent. and excellent permeability. A core was taken in the lower part of the main sand body which recovered 44 feet of oil bearing sand.


The deviated side-track was drilled to a total depth of 5,931 feet Measured Depth (MD). No oil water contact was encountered. Initial pressure data indicates a common pressure regime between Catcher East and Catcher confirming that both are part of a single significant oil accumulation, with an oil column of 267 feet.


The co-venturers have now decided to drill an additional side-track to the south west of the original 28/9-1 Catcher discovery well. The aim of this well is to determine the presence or otherwise of additional potential reservoir sands not encountered in the original Catcher well. This side-track, to be known as the 28/9-1Y Catcher SW Appraisal, will commence following the completion of the current Catcher East side-track and will take approximately 10 - 15 days, dependent upon weather and operational efficiency. This will be the final well in this phase of the Catcher area appraisal drilling programme.


Preliminary analysis by the operator indicates that the Catcher feature (including East and North) may contain oil-in-place of up to 300 million barrels. In addition, the surrounding prospects in the block, which have now been significantly de-risked, could add very significantly to this number. Further studies are now being undertaken to determine likely recovery rates.




Steve Jenkins, Nautical's Chief Executive Officer, commented:



"This is another superb result from the prolific Catcher area. The resources discovered to date should lead to a major development. We look forward to drilling a number of the other prospects on the block, which have been significantly de-risked by the Catcher and Catcher East discoveries, as soon as is practical."


Steve Jenkins, BSc (Hons) Geology, MSc in Petroleum Geology (Imperial College) and a Fellow of the Geological Society of London, who has over 28 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.

Looks like the rig contract has fallen through for NPE to drill Kraken.

XEL now have a binding contract to drill Bentley in Sept using the Ocean Nomad.

Kraken spudding imminent.

come on you two....make up your minds....is it...isn't it.,.

No one seems to have taken notice of the significant rise in NPE, glad i'm in here.
Along with EO, and XEL could be a nice little earner. hello.,.

New high reached today.,.

We must be very near completion of side track drilling, which maybe why sp is on the climb.,.

Gone ballistic, successful kraken drill 3+

Well done Balerboy.....!....