EnCore Oil PLC

time will tell whether or not you just have a mouthful of sour grapes .... it should be remembered that directors have limited windows in which to sell (or buy) their own stock, and of course it may well be that in this instance they were just cashing in some option shares as is often the case

Market Cap is 407 million.

If you go on 10 US$ per barrel in the ground for them then they need 63 million recoverable barrels to justify the market cap.

Given their small holding in the licenses and the OIP figures from PMO, one could suggest they may have just 20 to 30 million barrels recoverable , and that makes them quite overvalued.

If you are very very generous and give them 30 million recoverable then 30M x 10US$ = 300,000,000 US$ or a market cap of just under half what it is today.

Thats an awful lot of hope and future success already in the price.

Run the figures with a more conservative 20 million barrels they have at the moment P50 recoverable potential and my word, they really are overvalued.

I have seen so many people on other BB's crying at why the price has not risen and its all MM's and conspiracy, no its not IMO, its simply far too much future success is already priced in.

you may be right and certainly in early november GS reckoned EO to be a sell (it's actually well up since then), but then they reckoned DES to be a buy (say no more!) ...... anyway, i banked some good profits here in early november and the balance is also still comfortably in the money though i bought these quite high

decided that it would be a shame to let a good profit perhaps fritter away so have sold the balance but retain (far too many) PMO who are the operator in EO's field

decided that it would be a shame to let a good profit perhaps fritter away so have sold the balance but retain (far too many) PMO who are the operator in EO's field

If the 'EO's field' you are talking about is Catcher, then you are wrong. EO. are operator; PMO just have a larger stake.

SLG are operators of Cladhan.

whatever ..... i banked the profit and continue to hold PMO!

nice rise this morning.,.

now why should EO be roaring ahead today? ...... well was spudded 24/1 and no result expected for another 10 days ..... EO holds 15% and PMO 35%, yet PMO hasn't moved at all tho it has been quite strong of late

NPE also well up and into 5+ so something going on, would Xel have an effect on these two if news maybe very good news coming from that directon?

XEL are very lacklustre ..... perhaps good news rumoured but am reluctant to jump back in ..... if it's good, PMO will do well enough out of it anyway

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bid/offer books very level so rise may be suspect - e.g. just short position being closed

allowed greed to rule ..... volume is very high and bid now comfortably outweighs offer and sp has held strong - until now!

From the PMO Catcher Update

http://www.investegate.co.uk/Article.aspx?id=201102080700048329A


...........The Catcher North well was purposely located to penetrate the Cromarty reservoir in an area with less seismic amplitude response than that observed over the equivalent section at Catcher. As a result of the lower than expected oil pay encountered at Catcher North, Premier now estimates the overall oil reserves range for the combined Catcher, Catcher North and Catcher East discoveries at between 40 mmbbls and 80 mmbbls.......

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had my bum bitten as deserved

Why is sp tanking, same for npe down76p. was hoping for a quick profit take this am.

I have been saying for some time that Encore was overvalued.

Far too much future success was in the price, success which is not going to be happening now.

because Catcher result was disappointing ..... have bitten the bullet .... ditto on PMO, though at least i still sold this last tranche at a bit more than the first

what a fantastic blip / dip today - topped up here & a great chance to top up NPE before Kraken results also!!! s lol lol

time will tell how wise you have been - or not ....meanwhile i watch PMO to see if 20.00 will hold

Am still i profit here and npe so will wait and see.

i am sure it will - cheers