So David Bramhall having bailed out of HAWK is back with another oily, which is on the move today.

From this week's Shares Mag (Royston Wild):
"Keep buying Wessex Exploration (WSX:AIM) even after last weeks giddy share price ascent, prompted by news a mammoth deepwater oil discovery off the coast of French Guiana (9 Sep). The find could have potentially identified a significant hydrocarbon basin similar to the giant Jubilee offshore field in Ghana. The 30 million cap, which also holds assets in the UK and Africa, disclosed successful drilling operations at the Zaedyus exploration well, which has yielded 72 metres of net oil pay in three areas with good quality reservoir. The latest tests confirm the prospect could possibly contain up to 700 million barrels of oil, and work is continuing to deepen the well for further analysis. Comparisons have been drawn between the site in the North Atlantic and the massive Jubilee prospect, of which it had been hoped the South American field would prove to be a geological mirror image with massive oil reserves of its own. The projects partners have noted a further six prospects similar to Zaedyus in the block, raising the prospect of further gains, according to Bank of America-Merrill Lynch.
Wessex has a 50% interest with Northern Petroleum (NOP:AIM) in Northpet investments, which in turn controls just 2.5% of the Guyane Maritime licence. But the company also has heavyweight partners on board at Zaedyus. Royal Dutch Shell (RDSB), Frances Total (FP:PA) and project operator Tullow Oil (TLW) have 45%, 25% and 27.5% stakes respectively. According to a statement issued last month (24 Aug), Wessex does not appear to have funding requirements in relation to its presence in French Guiana. Management advised it had sufficient funds to cover current drilling work at the well.
Shares says: Buy Wessex Exploration at 6.1p."

StockMarketWire.com
Shares in Wessex Exploration (LON:WSX) were up by nearly 30% in afternoon trading after Total confirmed that it had made an approach regarding a possible cash offer at 10p per ordinary share.

The Wessex board said that in the absence of a higher competing offer and subject to shareholder consultation it would currently be minded to recommend a firm offer at this price by Total.

Wessex said there could be no certainty that any offer would ultimately be made or as to the terms of any offer and Total reserved the right to reduce the offer price.

A further announcement will be made when appropriate.

Dearie.

NOP down as well.....two more wells to go I gather....best to be in NOP..

sp down 20% dry hole.

I'm in NOP and will stay put as they have 1.25% of a huge discovery plus multiple assets...

Listen to Wessex Exploration - Drilling report

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