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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Download Nautical 2007 Annual Report

Hardman & Co. Research note

StockMarketWire.com
Nautical Petroleum reported profit after taxation for the year to end-June of £50.6m (2010: £2.3m loss), inclusive of gain on partial sale of Mariner of £55.1m.

The end-June 2011 net assets were £137.9m (2010: £57.7m).

The company had cash and deposits of �110m at period end (2010: �11.7m).

A share placing raised �30.3m (�28.9m net of expenses).

The Kraken 9/02b-4 appraisal well extended the oil accumulation to the south of the field, while the Kraken 9/02b-4z west exploration sidetrack encountered 2 oil bearing reservoirs.

Nautical sold 20.6667% of Mariner for �87.5m, retaining a 6% interest.

Nautical's equity interest in Block 9/2b Kraken increased from 35% to 50%.

An independent resource opinion confirmed Kraken Heimdal III resources of 160 mmbo (gross), 83 mmbo net to Nautical.

The Kraken 9/02b-5z horizontal appraisal well tested at 4,550 bopd

Steve Jenkins, CEO, commented: "The year ended 30th June 2011 and beyond has been an excellent period for Nautical. Against a challenging economic environment, Nautical has significantly strengthened its financial position and delivered outstanding operational results, the highlight of which has been the recent Kraken flow test. I would like to thank my fellow directors, employees and contractors for their continued dedication."

Commencement of Drilling Operations on Tudor Rose Well
Nautical Petroleum plc (AIM: NPE) announces that the Tudor Rose appraisal well 14/30a-5 in Central North Sea Block 14/30a was spudded at 14:22 hours on 16 November 2011.

The well is being drilled approximately 2.5km NNW of the 14/30a-2 discovery well. The main objectives of the appraisal well are to obtain a core of the Beauly sandstone reservoir and to collect reservoir fluid samples to establish the API and viscosity of the oil.

The well is being drilled using the Sedco 704 semi-submersible rig and is being managed by Applied Drilling Technology International (ADTI). The well is expected to take approximately 20 days, subject to weather and operational requirements.

Nautical has a 20 per cent. equity interest in Central North Sea block 14/30a.

fingers crossed then....

StockMarketWire.com
Nautical Petroleum has been offered a licence, covering two exploration blocks, in Scotland.

The blocks lie in the Inner Moray Firth and have prospectivity in both the Lower Cretaceous (Coracle and Punt Sandstones) and the Upper Jurassic (Alhess and Claymore Sandstones). The initial licence term is four years with the decision to drill a well required by the end of the initial licence term.

Nautical's Chief Executive Officer, Steve Jenkins said: "We are delighted to have been offered Blocks 12/16b and 12/17b, which lie north east of the Beatrice and Jacky fields and the 12/21-3 discovery. We are greatly encouraged by the presence of large leads at four stratigraphic levels.

"The English Channel blocks (97/14, 97/15 and 98/11) contain interesting prospects and discoveries, including the 98/11-2 well drilled in 1984. This encountered a 26 metre gas column which was tested and flowed at an approximate rate of 10m standard cubic feet of gas per day. Part of our programme will be to establish the commerciality of this discovery, which can be accessed from an onshore location."

Have to just mention NPE is climbing steadily everyday so far, over 300p now.

StockMarketWire.com
Nautical Petroleum has agreed with EnQuest PLC to divest a 25% interest in United Kingdom Petroleum Production Licence P1077, North Sea Blocks 9/2b & 9/2c, which contain the Kraken discovery.

In consideration for the transaction Nautical will receive a carry on its future expenditure on the Kraken field of up to $240 million, consisting of a $150 million firm carry and a contingent carry of up to $90 million.

Acquisition of 25% Interest in North Sea Block 3/27a

Nautical Petroleum plc (AIM: NPE) announces it has entered into an agreement with First Oil Expro Limited to acquire a 25% interest in UK Petroleum Exploration and Development Licence P1756, North Sea Block 3/27a, which contains the Hydra prospect.

Nautical was previously the operator of Block 3/27a, and has exercised an option to farm-in to the block with First Oil Expo Limited.

The licence commitment, to be completed by 10 January 2015, is the acquisition of 250km of 2D and 100km2 of 3D seismic plus a well to be drilled at the discretion of the participants.

First Oil Expro Limited, the operator, currently hold a 100% interest in P1756. The transfer of interest is subject to completion of due diligence and approval by the Department of Energy and Climate Change.

Steve Jenkins, Nautical Chief Executive Officer, commented:
"We are delighted to be returning to this block. We have extensive knowledge of it and look forward to further investigating, with First Oil Expro, its prospectivity at both the Tertiary and Jurassic levels,"

StockMarketWire.com
Nautical Petroleum has completed the sale to EnQuest of its 25% interest in the Kraken discovery, together with interests in the surrounding exploration acreage.

In consideration for the transaction Nautical will receive a carry on its future expenditure on the Kraken field of up to $240 million, comprising a $150 million firm carry and a contingent carry of up to $90 million.

The value of the contingent carry will be calculated by reference to a determination, during the development drilling phase, of the gross 2P reserves in Blocks 9/2b & 9/2c by a competent person.

The agreement and the associated details of the transaction were announced on 24 January 2012. The transaction has received all approvals from the Department of Energy and Climate Change and joint venture partners.

Commencement of Drilling Operations on Carnaby Well
Nautical Petroleum plc (LSE: NPE) announces that the Carnaby exploration well 28/9-5 in Central North Sea Block 28/9 was spudded at 05:45 hours on Friday 11 May 2012.

The well is being drilled using the Sedco 711 semi-submersible rig and is being managed by Applied Drilling Technology International (ADTI). The well is expected to take approximately 25 days, subject to weather and operational requirements.

The well is located immediately to the west of the Burgman discovery in the Greater Catcher Area. The objective of the well is to establish if hydrocarbons are present in the Tay and Cromarty sands.

Nautical has a non-operated 15 per cent. equity interest in Central North Sea block 28/9.

Carnaby Oil Discovery
Nautical Petroleum plc (LSE: NPE) is pleased to announce that the Carnaby well 28/9a-5A located on UKCS Central North Sea Block 28/9a has reached Total Depth of 4,695 feet Measured Depth and has successfully encountered good quality oil in the Lower Tay sandstone.

The well encountered 44 vertical feet of net oil pay in a single Tay sandstone interval of 46 feet gross vertical thickness. Preliminary log analysis indicates that the average porosity in the reservoir interval is 36% and the average oil saturation is 85%. The oil gravity estimated from wireline samples is 24°API.

The well also intersected thin hydrocarbon-bearing sands in the Tay above the main oil reservoir and water-bearing Tay sands approximately 100 feet below the oil zone.
Good quality Cromarty sands were encountered but they were not hydrocarbon bearing.
The well will now be plugged and abandoned as planned.

Capricorn Energy Limited ("Capricorn"), a wholly-owned subsidiary of Cairn Energy PLC ("Cairn")

for

Nautical Petroleum plc ("Nautical")

(to be implemented by way of a Scheme of Arrangement under Part 26 of the Companies Act)
Summary

· The boards of Cairn and Nautical are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Capricorn for the entire issued and to be issued share capital of Nautical (the "Offer"). It is intended that the Offer will be effected by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act.

· Under the terms of the Offer, Nautical Shareholders will be entitled to receive 450 pence in cash for each Nautical Share held.

· The Offer values the issued and to be issued share capital of Nautical at approximately £414 million. (Nautical held cash and deposits of £69.9 million at 31 December 2011.)

· The Offer Price represents a premium of approximately:

o 51.1% to the closing price of 297.8 pence per Nautical Share on 12 June 2012, the Business Day immediately prior to the date of this announcement; and

o 45.3% to the average closing price of 309.8 pence per Nautical Share over the three month period ended 12 June 2012.

seeing as the offer is 450p I took 463 whilst it was there, nice little tickle. put profit into xel.,.