For Immediate Release 1 April 200




Nautical Petroleum plc ('Nautical' or 'the Company')
Listing of Shares


(AIM market of the London Stock Exchange. Ticker symbol - NPE) Application has
been made to the Alternative Investment Market of the London Stock Exchange
('AIM') for the admission to trading of 775,000,000 Ordinary Shares of 1p each
in the Company.

At the recent EGM it was also resolved to increase the Authorised Share Capital
from 4,000,000 to 12,000,000

Commenting on the transaction, CEO Steve Jenkins said:

'The completion of this transaction sees Nautical well placed to lead the next
phase in developing heavy oil reserves on the United Kingdom Continental Shelf,
an area in which new activity is encouraged by both government and industry.

'We look forward to increasing shareholder value by developing the heavy oil
assets in our existing portfolio. We intend also to expand our heavy oil asset
base through both acquisition and future licensing rounds'.


Enquiries:

Nautical Petroleum 020 7550 4890
Ian Williams, Chairman
Stephen Jenkins, Chief Executive

Insinger de Beaufort 020 7190 7000
Simon Fox
Louis Castro

Buchanan Communication 020 7466 5000
Tim Thompson
Ben Willey
Eleanor Williamson



Notes to the Editors

The reverse takeover leading to today's listing of Nautical was announced
on 7th March 2005 and has been well received by the market.

Nautical aims to acquire, develop and add value to further heavy oil
reserves initially in the United Kingdom Continental Shelf (UKCS).

The Company sees an excellent opportunity in forthcoming licensing reviews
and current rationalisation of the UKCS by oil and gas majors. Smaller, more
focused companies are capable of the development of undervalued heavy oil
reserves on a phased basis, mitigating risk.

In conjunction with the downstream oil interests of shareholder Masefield
Energy Holdings AG, the Nautical heavy oil reserves will be developed for
fuel supply to the thermal power generation industry.

Nautical holds three assets significant to pursuing its strategy. As a 75%
shareholder in Nautical Petroleum AG, Nautical has sole access to licences
for contiguous blocks 9/2b and 3/27a on the UKCS, in which Nautical
Petroleum AG has a 100% interest. Specialised process equipment comprises
the third asset.

The first block, 9/2b, contains the 9/2 - 1A oil discovery well and is in
the vicinity of the Bressay and 9/3 heavy oil discoveries. Nautical has
purchased and interpreted 2-D seismic data, purchased 3-D data, purchased
and interpreted digital well data and completed an extensive assay of a
sample of oil from well 9/2-1A. Based on current data it has been confirmed
that there is an oil column of at least 33 metres.

The Company has purchased 2D seismic data and other information on the on
wells within the second block, Block 3/27a. The interpretation of this data
has generated several leads, one of which is analogous to the 9/2b - 1A
discovery, but with probable greater reservoir thickness. There are
indicators of liquid hydrocarbons deeper in the geological section.

Nautical's specialised process equipment is of a type specifically
designed for the Mariner discovery extended test well. The equipment is
suitable for use in testing of heavy oils down to 10 degrees gravity, is
easily deployable and fully compatible with most semi submersible drilling
rigs. When not being used by Nautical, the equipment can be hired to third
parties for well testing in order to generate revenue.

Nautical's management team have extensive networks in the oil and gas
industry gained over the course of careers in the sector.


This information is provided by RNS
The company news service from the London Stock Exchange

All I ca say is that they look undervalued on a quick fag packet calc like yours, something is holding it back, probably not operating in as "sexy" area as some of the others, however, to me it just looks cheap.

Ellio,

you have a point re "sexy". The North Sea is currently famous for being an area in which it is difficult to get hold of drilling rigs, labour, etc., and all at inflated prices. It could be that investors are holding their fire until they know that companies are in a position to drill/produce . . . Mind you, the returns should be good and with 65Mbbl in place, that should give a fair bit of upside.

NPE 11.75 - 12.25p +0.50p

Breaking out from the downtrend

Thought I would bring this to the surface.

Been underwater (no pun), for some time.

Heavily discussed on TMF lately and tipped by Bridgewell as being over 60% to NAV, so how much lower can it go?

My guess that recent buys are TMF'ers, showing that ther TMF effect does work!

If that is the case, it has bottomed and could be a good time to buy in.

Here are the links.

http://boards.fool.co.uk/Message.asp?mid=10280577

http://boards.fool.co.uk/Message.asp?mid=10292206&sort=whole#10293108

Todays Broker upgrade note:-

http://boards.fool.co.uk/Message.asp?mid=10293156

Here is the latest news concerning rigs .

http://moneyam.uk-wire.com/cgi-bin/articles/200611210700513990M.html

"Nautical Secures Two Rig Slots


Nautical Petroleum plc (AIM:NPE) the specialised developer of heavy oil assets
in the UK and Europe today announces that it has secured two drilling rig slots
from The Peak Group in mid 2007 which meet the Company's requirements and
programme for drilling the Kraken and Mermaid prospects.

The Kraken discovery on Block 9/2b has best estimate contingent resources of 53
million barrels of oil (gross) of which Nautical has a net interest of 23.9
million barrels of oil following the recent farm-out to Celtic Oil (a subsidiary
of SK Corporation). Nautical has a 45% equity interest and is the Operator.
Nautical and Celtic Oil are committed to 3D seismic and two wells on the 9/2b
licence.

The Mermaid prospect on Block 9/11c has best estimate prospective resources of
129 million barrels of oil (gross) of which Nautical has a net interest of 77.4
million barrels of oil. Licence 9/11c forms part of the multi block farm out to
Celtic Oil. Nautical has a 60% equity interest and is the Operator. The license
carries a commitment to drill one well.

Both site surveys for this drilling programme have already been acquired.

Commenting on the securing of the drilling rig slots, Steve Jenkins Chief
Executive of Nautical said:

'We are delighted to have secured these slots through The Peak Group. We are now
able to complete the remaining preparatory work and move ahead with our
programme of appraising and proving up our resource base.

Kraken and Mermaid are important prospects for the Company as their contingent
and prospective resource estimates total over 100 million barrels of oil which
we plan to convert to reserves through an agreed drilling and appraisal
programme. Nautical continue to develop its portfolio in the North Sea and
Europe and we look forward to driving towards production during 2007.'

Bridgewell today "overweight" to "buy" at a 67% discount to NAV of 19.5p

"........a number of asset backed oil companies on AIM that will look attractivew to a trade buyer; most notably, in our opinion NPE."

They say, "The stock has slumped to a 67% discount to our 19.5p NAV. This equates to an EV/boe of under $1.90 (2P reserves plus contingent resources). We are upgrading the stock today from Overweight to Buy."

http://boards.fool.co.uk/Message.asp?mid=10293156

LONDON (AFX) - Nautical Petroleum took top spot among small cap risers,
adding 3/4, or 11.54 pct, to 7-1/4 pence after Bridgewell cranked up its
recommendation on the stock to 'buy' from 'overweight'.
Bridgewell's Al Stanton pointed out to clients that there is a number of
asset-backed oil companies on AIM that will look attractive to a trade buyer,
most notably, in his opinion, Nautical. He added that the stock has slumped to a
63 pct discount to the analyst's 19-1/2 pence a share net asset value.

Now that is what I call a good return on the day.....

Now that's what I call another good return in a day!

FT comment:

SMALL CAPS: NAUTICAL PETROLEUM BUOYED BY BROKER UPGRADE

By Robert Orr and Neil Hume

Nautical Petroleum shares reversed prolonged weakness as house broker Bridgewell upped its recommendation on the North Sea heavy oil company from overweight to buy. Al Stanton, analyst, said that Nautical shares now traded at a 67 per cent discount to its net asset value, adding that at such a low valuation it could be taken over. We see significant upside potential in Nautical. We believe that if the market does not correct this anomaly then industry will, he told clients. Nautical shares rose 23.1 per cent to 8p.

Nautical Petroleum plc

Holdings in Company

Nautical Petroleum plc ('Nautical' or the 'Company') has received notification
that The Goldman Sachs Group, Inc. ('GS Inc') is interested in a total of
100,753,738 ordinary shares of 1 pence each in the Company ('Ordinary Shares'),
representing approximately 9.3 per cent of the Company's issued share capital.

Of this holding;

Goldman Sachs & Co, a wholly-owned direct subsidiary of GS Inc, is interested in
100,553,738 Ordinary Shares as custodian for its customers, registered in the
name of Goldman Sachs Securities (Nominees), Limited; and

Goldman Sachs International, a wholly-owned indirect subsidiary of GS Inc, is
beneficially interested in 200,000 Ordinary Shares.