EnCore Oil PLC

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

============

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.......

.

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

some thing to hope for:

Commencement of Drilling Operations on Cladhan Appraisal Well

EnCore Oil plc (LSE: EO.) is pleased to announce that the Cladhan appraisal well 210/30a-4 located in Northern North Sea Block 210/30a was spudded at 20.00 hours on Monday 28 February 2011.

The objective of the appraisal well is to drill further down dip into the Cladhan structure, to the south east of the original 2008 discovery and subsequent 2010 side-track wells, to attempt to discover deeper oil in the structure.

The well is being drilled using the Transocean Prospect semi-submersible rig and is expected to take approximately 40 days, subject to weather and operational requirements.

The equity in Blocks 210/29a & 210/30a joint venture partnership is as follows: EnCore Oil plc (16.6 per cent.), Sterling Resources Limited (39.9 per cent., Operator), Wintershall (UK North Sea) Limited (33.5 per cent.) and Dyas UK Limited (10 per cent.).

Graham DorB.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore's Exploration Director, who has over 20 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.

EnCore Oil considers floating new company
StockMarketWire.com
EnCore Oil is considering floating a new company containing its exploration assets to raise money for a drilling programme.

The firm - which would have a significant stake in the new company - says it wants to maximise the potential value of its exploration portfolio and avoid undue further dilution of shareholders' interests.

Exploration of these assets would be at higher working equity levels than EnCore would have retained and allow the retention of operatorship control which would likely have been lost via individual farm-outs.

EnCore posts a loss attributable to equity holders of the parent of 3.8m for the six months to the end of December compared with a profit of 17.4m last time.

Operating losses fell to 3.6m - down from 8.2m - and the firm remains debt free with a cash balance of 31.0m compared with 41.9m at the end of June.

Been topping up here to:
Encore Oil initiated with buy rating at Arbuthnot, TP 211p

Possible takeover target? The rumours seem to be circulating. Looks as though someone seems to think so with a 10p rise today.

Was starting to wonder whether I should have sold a few weeks ago (was in at 15p), now wondering whether I should be topping up!