Star Energy is currently testing the Avington well in Southern England.
This will take about 4 weeks an RNS news feed said, it started on 25/06/06.

I hope it proves positive so we get a good share price rise!
We are 5% holders but i'm not sure how much in pence potential this is worth for the company.

Another good reason to hold on to this share.

The Sun is saying it might be 35m barrels. So that is still above the initial estimate, although not up to the max they thought as possible.

"Markwells is thought to contain "only" 35million barrels - ten times fewer than some North Sea discoveries. But it is huge for an onshore find."
http://www.thesun.co.uk/sol/homepage/news/money/3334903/Majestic-Wine-boss-slams-weather-moans.html

Horndean is producing around 190bpd from 4 wells, has been for years. Take the same from MW1 and its worth $5,894,750($85 a barrel) or 3,815,082 per annum, to next year maybe $8,668,750($125 a barrel) or 5,610,415 per annum.

Revenues for the 6 months to 30 June 2010 were a shade over 7m, so this should add a good 30% to revenues. 5 wells instead of the 4 at Horndean would likely add 50% to annual revenues at next years oil prices.

So after all the huffing and puffing, less oil was found than expected?

all oil was onshore at least once since created - almost certainly anyway

ptholden, you can't read either then LOL!!!!

Read it SLOWLY

They expected to find 33.5m barrels, but they found between 35m and 50m barrels.

Now do you get it?

The MW1 oil could add 50% to revenues in what is a profitable company. Tullow oil well in Guyana would add 35% t0 65% onto current revenues(drilling Q1), so there is easily visible doubling of revenues and profit. This brings us back to the bid speculation from the news the other day. NOP is still cheap based on the visible growth. Add the Italian drilling for 1Bn+ (up to 8Bn with all the prospects?) barrels and a pre-emptive strike by BP, Shell(thus getting 100% of Italy) or similar could be on the cards soon.

A quick summary of info and my view of how things will go for NOP.

Current SP should be 196p according to Goldman Sachs, this is at $85 a barrel. The consensus expected 2011 average for oil is around 25% higher, which would lead to an increased valuation on NOP to 235p
t1ps.com have a 'buy up to 145p with a 350p target' recommendation
NOP is a 'Tip for 2011' from The Times
3 brokers are listed on Digital Look, all have 'strong buy' for NOP
Matrix analysts have a 170p target
http://gecr.co.uk/ have a 314p target

Results from MW1 should be in within a week or two, if they hit 35m to 60m barrels and a producer it will be seen as big news for NOP.

Tullow are drilling Guyana in Q1. The oilfield is expected to be similar to the nearby Jubilee field which is running at 58,000 bpd rising soon to 120,000 bpd. If Zaedyus production proves as good as Jubilee then NOP would gain the revenues on 725 boepd to 1500 boepd, a 31.5% to 65% increase on its production today.

Based upon the above the NOP SP should easily pass 2 by the end of Q1.

Also by the end of Q1 Shell Italia MUST make a decision on drilling the Thrust and Fold belt offshore Italy, targeting 1Bn+ barrels of oil. Goldman Sachs have pencilled in Q3 2011 for the drilling.

Based on Shell Italia going ahead with drilling in Q3 2011, the SP should rise rapidly on the announcement and continue rising as the date nears for the spudding in Q3.

Goldman Sachs have valued a successful oil strike on a producer of 1Bn barrels as being worth 500% on their valuation of 196p, taking it to 945p. Allowing for the 25% higher oil price the valuation would increase to 1181p

So by the time Shell Italia are drilling the Thrust and Fold belt in Q3, the NOP SP should be speculatively bought up to at least 4 per share, leaving room for a double or treble for those already in, if they hit 1Bn+ barrels of producible oil as expected.

Still think you should start a new thread with a new header as the one on top is well out of date and no charts.

The share is on my watchlist.

here's a chart for you marky .... certainly a strong breakout and good that the possible resistances (that is see!) at 125/130 have been firmly breached

Richard, are those MAs 200 & 50?

red = 25 ...... green = 50 ...... black = 200

Curious

TA has been banging on about the Golden Cross, posting charts which clearly show two MAs crossing whilst both heading up, the chart above does not.

Edit: Ah, mystery solved, EMAs do the necessary.

Northern Petroleum are on the BBC's teletext service (analogue), page 117.......this is an impressive little company in the making.....

indeed not though the breakout looks quite impressive ...... to be honest, i never set much store by either golden or dead crosses

It's what's coming this year that will send this over 200p.....buy now and wait....

ptholden, correct!

EMA is the one to use for the 50 over 200, not the SMA. In my chart below I use EMA on ADVFN PRO charting and the 50EMA is crossed a rising 200EMA. It makes no difference whether the 200 SMA is rising on the Golden Cross either. Quote from a TA site:


In the Merrill Lynch report prepared by Mary Ann Bartels, it continues to distinguish between golden crosses that happen with a downward long term moving average and those when the long term moving average is rising:

Of the 42 Golden Cross signals triggered since 1928, 20 have occurred with the 200-day moving average in a declining trend or lower than it was 30 trading sessions ago. These signals on average have generated 12-month returns of 13.3%.

The remaining 22 signals occurred when the 200-day moving average was rising or higher than it was 30 trading sessions ago. The returns for these signals were much lower and on average generated 12-month returns of 5.7%.

cynic, shame you don't put much on Golden Crosses or Dead Crosses, look at the money you could have made on NOP if you did ;)

Chart from before the Golden Cross as I was predicting it at the time I bought in(at 111p). This GC is coming from about the same base as the GC of 2007, suggesting 2 could be along by end of Q1.

Italy.

"The unaudited, mean, combined and unrisked Prospective Resources of all mapped prospects in the six licences from the present limited seismic data base is estimated by Northern at 1.9 billion barrels (100%) recoverable."

"The indicative gross estimate of the optional work programme that Northern will be carried on for its share up to the point of earn in by Shell on this acreage is in excess of Euro100 million."

http://www.advfn.com/p.php?pid=nmona&article=29712132&symbol=LSE:NOP

TA - i fully understand the logic of golden and dead crosses, but being a simpleton, i tend to follow trend or momentum and certainly pay attention when sp surges through 200 or even 50 dma ..... overall, the strategy is probably much the same .....

thank you for pointing out what i might have made on NOP, always supposing that i banked profits - i regularly do, though many here do not! - rather than sit like a rabbit when sp crashes (see above!) ...... however, i am more than happy with the profits i actually made over the last couple of years on the likes of RKH, EO, XEL, CFA, HOIL, TLW, IEC et al

meanwhile, you may be pleased to know that i have been paying attention to at least the sentiments you propound here, even though my attention span is far too short to read thoroughly

Share price should rise towards this with speculative buying.

In Guyane, operator Tullow Oil acquired 2,500 square kilometres of 3D seismic in February 2010 which it is now processing and interpreting. As a 1.25% owner, Northern's holding is as a portfolio investor only, but with the prospect's first well targeted for spudding in February 2011, there is a prevailing cautious optimism.

http://uk-analyst.com/shop/page-advice/action-advertorial.show/id-130007935

an interesting read, but when you see the note above NOP was for HAWK with a target of 229 one does have considerable doubts as to the author's sanity, let alone anything else ...... mug-punter holders of HAWK would be ecstatic if sp even reached 22.9p!!