Nautical Petroleum plc is an independent hydrocarbon exploration and development company listed on the London AIM. The company's mission is to acquire, develop and add value to discovered heavy oil, initially on the United Kingdom Continental Shelf.

Latest Company News

Download Nautical 2007 Annual Report

Hardman & Co. Research note

No idea.........presume the article was written a few weeks back, and published only recently...........or its a typo.

October Hardman report is out but whilst I see it on Bloomberg I don't see it yet on their website. Placing apparently oversubscribed by 20%. I'm guessing it'll be on Hardman's site shortly.

Junior Oil and Gas - Golden Barrels report (Edison yesterday) - Nautical one of about 8 favourable companies. (Papal, also Aminex - I may have to get back in here having held before)

The Kraken Wakes

Nautical Petroleum plc

('Nautical' or 'the Company')

Appraisal of the Kraken Discovery, Block 9/2b Licence P1077 in the UK North Sea

Nautical Petroleum (AIM:NPE), the independent E&P company focused on the
development of heavy oil assets in the UK and Europe is pleased to announce that
the Kraken appraisal well 9/2b-2 spudded on 24th October 2007.

The Kraken well is an appraisal of a discovery made in 1985 by the 9/2-1 well.
This is Nautical's first operated well and initial results are expected towards
the end of November.

Thanks for that Greyhound.


And now the fun begins :)

Nautical Petroleum PLC
24 October 2007

Nautical Petroleum plc
('Nautical' or 'the Company')

Appraisal of the Kraken Discovery, Block 9/2b Licence P1077 in the UK North Sea

Nautical Petroleum (AIM:NPE), the independent E&P company focused on the development of heavy oil assets in the UK and Europe is pleased to announce that the Kraken appraisal well 9/2b-2 spudded on 24th October 2007.

The Kraken well is an appraisal of a discovery made in 1985 by the 9/2-1 well.
This is Nautical's first operated well and initial results are expected towards the end of November.

Snap!

Preferred mine though!

The Kraken Wakes

Thanks for that guys, I missed that.

Starting to pick up again here for 13p break before too long.

I bought in last week and will top again soon. it looks good from here on ! :)

just looking at the chart above and very simply, after consolidating 12p in last couple of weeks, im wondering if todays tick up is the start of the next leg upwards... 15p perhaps? just guessing.

News just out, Farmout and acquisitions. Agreement with Canamens concerning block 9/2b and acquisition agreement with Int'l Energy.

ok..what does that mean, for the uninitiated like me ?

Nautical Petroleum plc
("Nautical" or "the Company")
Farmout and Acquisition Agreements


Nautical Petroleum plc (LSE:NPE), the developer of heavy oil assets on the UK Continental Shelf and mainland Europe, is pleased to announce that it has entered into an agreement with Canamens (UK) Limited ("Canamens") concerning Nautical's interests in North Sea Block 9/2b and an acquisition agreement with International Energy Group AG ("IEG AG") .

Under the terms of the Canamens agreement on North Sea Block 9/2b, Canamens will acquire a 25% interest and will fund its equity share of the current appraisal well being drilled on the Kraken discovery with a premium to Nautical. For all future activity on Block 9/2b, Canamens will bear its 25% equity share.

Under the terms of the acquisition agreement with IEG AG, Nautical Holdings Limited, a wholly owned subsidiary of Nautical, will acquire 100% of the share capital of UAH Limited for cash consideration of one pound sterling. UAH Limited, through its shareholding in Nautical Petroleum AG, owns a 25% beneficial interest in North Sea Blocks 9/2b and 3/27a.

The net effect of these two transactions is that Nautical has retained its 45% interest in Block 9/2b, and has increased its interest in Block 3/27a from 45% to 70%.

The planned seismic survey on Block 3/27a has recently been completed and the data processing should be completed early in 2008.

Commenting on the transactions, Steve Jenkins Chief Executive of Nautical said:

"We welcome Canamens' participation in the Kraken appraisal programme and are pleased to have secured the interests previously held by IEG AG through the UAH acquisition. In combination, these transactions add value for Nautical's shareholders and are a good fit with our corporate strategy."

Greg Coleman, CEO of Canamens said

"Canamens is new to the North Sea and is very pleased to be entering into this agreement with Nautical for Block 9/2b. Although a mature province, we believe there is still good business to be done in the North Sea."

The Canamens agreement remains conditional on consent of partners and of the DBERR .

The UAH acquisition is a "related party transaction" as defined by the AIM Rules. Nautical's Independent Directors, Philip Dimmock and Patrick Kennedy, having consulted with KBC Peel Hunt, its Nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

News today of a shrewd move by NPE with Kraken costs.

This was Hardman's take on the news :

http://www.capmarkets.com/ViewFile.asp?ID1=80011&ID2=182717437&ssid=1&directory=12925&bm=0&filename=Nautical_October_31.pdf


.

Thanks PP....might top up on the back of this.

Yes thanks PP - just had a look at that, and wouldn't have known where to find such info.

Good post PP.

That note is what every little punter needed to explain what they have done.

Looking ready for a tick higher and perhaps a news update before too long.

Good read pg 28 FT today about Xcite/heavy oil.