Enegi Oil is newly listed on AIM.

Enegi Oil Plc is an independent oil and gas group whose strategy is to identify,
develop and operate hydrocarbon opportunities initially focussed on the proven
petroleum region of western Newfoundland, Canada. The Company is pleased to
announce its admission to trading on AIM and the Bourse de Luxembourg today.

Enegi will be admitted to trading at a placing price of 181p and is raising
approximately 15.0 million. On Admission the Company will be capitalised, at the placing price, at approximately 55 million.

Enegi Oil encouraged by Shoal Point drilling results
StockMarketWire.com
Enegi Oil is encouraged by drilling results revealed by Shoal Point Energy on the 3K39z well, at Shoal Point in Newfoundland.

Enegi Oil says that according to the announcement, the borehole has been drilled to a measured depth of 1,745 metres and encountered liquid hydrocarbon shows over the entire gross section of the well below approximately 700 metres.

Further operations and a number of tests are planned, with the programme expected to take between nine and 12 weeks to complete, depending on the final number of cased-hole tests conducted. Enegi Oil chief executive Alan Minty said: "We are encouraged by the drilling results announced by SPE and in particular the presence of liquid hydrocarbon shows.

"We believe that the work currently being conducted on EL1070 by our partners provides value to our interests in terms of asset prospectivity and the licence security to implement our plans.

"We look forward to further announcements over the coming weeks."

At 2:23pm: (LON:ENEG) share price was +4.01p at 13.88p

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