EnCore Oil PLC

Not exactly the rise i was expecting,although it wasn't unknown. Still feel we'll see a steady re-rating?
imho
cyril

much better stocks to have in your portfolio

Well thats probably true when your looking for blue sky,but this is a safer
stock with reasonable chance of an upturn? Its prudent to hold such in ones portfolio. Along side such as AST,HMB,RXP,MXP,URU and XTR all which have made excellent progress lately.
CEY,CHL,DGO along with EO. to bring a little balence,awaiting for SKR to
come good?
cyril

you call EO a "proper" company?????
well i guess compared to some of that riff-raff you list above, EO is almost blue chip

You mean the RBS's etc,no thamks,several multi baggers in that lot as you didcribe them. Funny there i was thinking that doubling my money added up to doing o.k.
I'll have to go and see where i'm going wrong?lpl
cyril

nice one cyril....lol cynic, 40:30 to cyril

depneds when you truly bought and if you have actually banked ... in the latter case, almost certainly not at all ...... don't know CHL but CEY is a good company but taking a long time to go anywhere, and of course DGO is 52% held by ENOC which gives inherent problems with valuation

BB not into pont scoring,just to exchange views and info?
cyril

Although off topic, i will cover my selections;
AST, From its recent disappointment rose 75%(4p/7.5p),and now with the latest success, Pen 105 due next week.
CHL Mearsured resource of over half a billion tonnes of thermal coa; and a supply agreement for next year.
DGO Oiler and awaiting the result of an pffer,but producing 45,000bopd.
HMB A gold miner with production,teething problems seem to have been sorted.
MXP Oiler with hugh asswts,"more comprehensive strategic and operational update" from news at the begining of month.
RXP Again great assets anf close to selling one(Dallez) for a lot of bucks.
URU Undervalued on its KAH holdings alone, but has a lot more valuable assaets
of its own.
XTR Soon to be a producer in Turkey with much more to come.

As far as EO.,check out its cash balence with nore to come.
aimo
cyril
p.s. PELE has promised well results this month. L

lighten up cyril. lol

lol
cyril

RNS Number : 7556Z
EnCore Oil PLC
28 September 2009


Press Release

For immediate release: 28 September 2009


EnCore Oil plc ('EnCore' or 'the Company')

Share Buy Back Programme


EnCore Oil plc (LSE: EO.) announces that it will today commence a share buy back programme through its broker, Hanson Westhouse Limited, using the authority granted by shareholders at the Company's AGM on 17 September 2009.

Shareholders approved the buy back of up to 100,000,000 ordinary shares. Shares purchased will be cancelled. No shares purchased will be held in treasury.

The shares will be purchased on-market on the London Stock Exchange within certain pre-set parameters. Subject to the Company being in close periods, the programme can continue for up to 12 months from the date it was approved, following which authority from shareholders may or may not be sought again.

Announcements providing details of shares purchased in the programme will be made in accordance with the AIM Rules for Companies.

i've given up on this share......nothing happens to sp whether news or no news. probably most boring share on market. i'm slightly up on it so it aint sour grapes but unless one bought in big at some point 6 to 12 months ago then this share is crap

Whatever. Cash now cover mkt cap and am up 50%. Go figure. ;-)))

i bought too at just over 10p but that was about a year ago.......shares have rocketed in less than 6 months, this one has done nothing

You may find this has almost doubled in about the last 6 months, marni. Not sure I'd call that nothing. ;-)

Highlights drom todays update.

Rig agreement signed for Cladhan appraisal well in Q2 2010

Site survey shot and rig negotiations underway for Catcher well in Q1/2 2010

Celtic Sea collaboration agreement with Valhalla Oil & Gas Limited

Transaction with Egdon Resources expected to complete in Q1 2010

Gas Storage project to be marketed in Q1 2010

Over 17 million shares bought back to date

Cash of 42 million and debt free

Look at the bottom line,"A M/CAP of UNDER 42M"

I see the Gas Storage is back in play.
cyril

Bought in this yesterday, continuing to do research and have come across the 'Tudor project'. Can anyone confirm if this is on the backburner? Found a presentation on the Nautical Petroleum website which would suggest it's not top of thier list. Appreciate anyone's views.

Press Release



For immediate release: 22 March 2010



EnCore Oil plc ('EnCore' or 'the Company')





Sale of assets to Egdon Resources



Further to the announcement on 23 September 2009, EnCore Oil plc (LSE: EO.) announces that Sale and Purchase Agreements have been signed with Egdon Resources plc ('Egdon', LSE: EDR) for the sale of the group's onshore assets (onshore UK and onshore France) together with its interest in the Ceres gas field, in return for a material equity stake in Egdon (the "Sale").



The key points of the Sale are:



The transfer to Egdon of EnCore's interests in nine UK and two French onshore licences and an interest in the Ceres gas field on the UKCS



The issue to EnCore and its subsidiaries at completion of the Sale of 39,200,000 ordinary shares in Egdon, which will equate to 29.998 per cent. of Egdon's enlarged share capital on completion of its placing also announced today



The payment by Egdon to EnCore of 100,000 upon completion of the sale of the subsidiary holding the French licences



The appointment of an EnCore nominee as a Non-Executive Director of Egdon, to take effect at the time of completion of the first Sale and Purchase Agreement. It is anticipated that the nominee will be Alan Booth, EnCore's Chief Executive Officer



The establishment of a Technical Services Agreement under which EnCore will provide Egdon with technical, commercial and accounting services, to be charged on a day-rate basis



The provision by EnCore to Egdon of a loan facility of up to 1.5 million, available for a two year period from completion of the transactions, at an interest rate of 10% or LIBOR plus 5% if greater



The commitment by EnCore to retain its shareholding in Egdon for a minimum of 12 months from the date of admission to trading on AIM of the Egdon shares to be issued in consideration, with orderly market provisions for a further 12 months





The transfer to Egdon of EnCore's UK onshore licences and interest in Ceres is subject to approval by Egdon shareholders at a general meeting to be held on 6 April 2010; the usual regulatory approvals from the Department of Energy and Climate Change (DECC); and approval from the joint venture partners on each licence. In addition French regulatory consent will be required for the sale of the subsidiary holding Encore's French licences.





Commenting on the acquisition, Alan Booth, EnCore's Chief Executive Officer said:



"Our shareholding in Egdon will place a tangible and transparent valuation on parts of our overlooked asset base. Egdon is an experienced and committed onshore player, and, as a result of this transaction, we believe that Egdon now has the capacity and resources to grow into a significant onshore E&P company. As Egdon's largest shareholder, EnCore will continue to actively support and assist in Egdon's ambitious growth plans."



Commenting on EnCore's upcoming activity, he added:



"EnCore's strategy remains unchanged, and we very much look forward to drilling both the Catcher and Cladhan wells in the coming months. We have also recently finalised arrangements for the marketing of our 100 per cent. interest in the prospective 130bcf Esmond gas storage project. From a future strategic perspective, we are seeing increasing consolidation activity and note recent announcements of strategic directional changes to companies currently principally involved in the UK offshore E&P sector. With this changing backdrop to the UK offshore small cap sector, and the continuing limited availability of debt and equity capital, we remain alert for any consolidation or acquisition opportunities that may present themselves. We believe that our strong capital resources, our debt free balance sheet and our minimal commitments should serve us particularly well in this regard."





For further information, please contact:



EnCore Oil plc
www.encoreoil.co.uk

Alan Booth, Chief Executive Officer
+44 (0)20 7224 4546

Eugene Whyms, Chief Financial Officer



Yvonne Fraser, Investor Relations Manager
+44 (0)7957 241 408






Westhouse Securities Limited



Tim Feather
+44 (0) 20 7601 6100

Matthew Johnson











Notes to editors:



Assets included in the divestment are listed below:



Onshore UK







Licence


Equity (%)
Operator

PEDL068
Cleveland Basin
20.0
Egdon Resources

PEDL256
Weald Basin
7.5
Northern Petroleum

PEDL125
Weald Basin
10.0
Northern Petroleum

PEDL126
Weald Basin
10.0
Northern Petroleum

PEDL154
Weald Basin
10.0
Northern Petroleum

PEDL155
Weald Basin
10.0
NP Weald Limited

PEDL098
Wessex Basin
7.5
Northern Petroleum

PEDL240
Wessex Basin
7.5
Northern Petroleum

PEDL253
Humber
60.0
EnCore










Onshore France







Mairy
Paris Basin
30.0
Lundin

Nimes
Rhone Graben Basin
100.0
EnCore










Ceres







P.1241
47/9c, Southern North Sea
10.0
Centrica


About EnCore Oil plc

EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.

It is not the Company's aim to build a full cycle E&P company. The principal strategy is to create shareholder value through the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the appropriate point in its life cycle and return value directly to shareholders wherever possible.

EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces over 10 per cent. of the UK's total oil production.

All EnCore's commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities.


www.encoreoil.co.uk

Oil discovery...50 million barrels by Premier oil and sorts...This is interesting....along with NPE and PMO who have at long last hit the jackpot....so there's still oil in the north sea...this is good news for the UK and our balance of exports and the pound...it all helps...