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.

Did anyone else notice Brent Crude is hovering around the $97 range? (US Light Crude is only $91-ish)

http://www.advfn.com/p.php?pid=commoditiestypes&btn=allcomms&gid=EN

Woodland Trust opposes further South Downs oil drilling

11 January 2011 Last updated at 13:42

The Woodland Trust has vowed to oppose any further drilling at an oil well recently discovered under ancient woodland in West Sussex.

About 300m worth of oil has already been discovered by exploratory drilling at Markwells Wood in the South Downs.

Northern Petroleum said the site could yield nearly five million barrels of oil, and the results were encouraging.

The Woodland Trust said it feared the discovery could lead to further testing or extraction across the South Downs.

Christine Byrne, campaigns case officer for the woodland conservation charity, said it could "spell danger for other precious conservation sites".

Further tests
The Sussex Wildlife Trust has also expressed a similar concern that the ancient woodland should be protected.

Spokeswoman Janyis Watson said: "We would really question what the value of this amount of oil is in this location and perhaps even what the oil would be used for.

"Will it be used to make things that end up in landfill so that we are then arguing cases against more landfill sites?"

Northern Petroleum was given consent to test for oil in 2008 by West Sussex County Council, and began drilling last November.

The move was opposed by Chichester District Council, the South Downs Joint Committee and the Woodland Trust.

Last week, the company said it would be carrying out further tests to determine the site's potential.

http://www.bbc.co.uk/news/uk-england-sussex-12161726

TA is that why NOP hasn't received any offers?

halifax, how do you 'know' NOP hasn't recieved any offers? and if so, how could it possibly have anything to do with news that only came out 30 minutes ago?

NOP put the sale process on hold because new prospective buyers arrived at the last minute. NOP are developing the UK assets regardless of whether a buyer is lined up or not.

TA if NOP has received offers then they would issue an RNS, news that there are strong objections to the development of this site are not going to encourage possible bidders, as regards NOP proceeding on their own it is a question of how much it will cost them in legal fees and management time.

halifax, they would not have issued an RNS if they had recieved an offer, as it is not an offer for the company it is a sale of assets for which there are several potential buyers. Only when a sale is agreed and the other potential buyers walk away would there be an RNS.

As for developing the assets, that is what they are doing. Just because these people say no drilling in the forest, that does not stop NOP drilling outside in the field, does it. Ever heard of directional drilling?

NOP got the permission to drill the well despite opposition from these people, do you think that now oil has been discovered that he gov't will not let them produce from it? There is no guarantee whatsoever that it will cost NOP anything in legal fees to get permission to produce.

Either way, the UK is not the big game for NOP, it is a simple cash generating machine which they can still sell for 10m(could have been 12.5m with MK1 included).

The big game for NOP is Italy, 8Bn+ barrels potential. 1.75Bn barrels in the first two targets. NOP's cut of the first two targets would value NOP at 945p per share at $85 per barrel. Q3 drilling expected(by Goldman Sachs)

In the meantime Tullow drilling Guyana in Feb is worth 33% to 65% on top of the current valuation if the oil there is as Tullow expect.

TA as we all know potential=pie in the sky!

Won't stop him posting it all at least twice a day though Mr Halifax!!

halifax, the same 'potential' that nearly every other stock in the world is bought on????

Or are you one of these people that only buy blue-chips based on financial data on results????

If so then stick to that, because comments like the one you just posted are simply meaningless to other investors.

Brent Crude oil hits two-year high of $98

Rowena Mason, 19:34, Wednesday 12 January 2011
Oil hit a two-year high of more than $98 per barrel in London on Wednesday, as appetite for risk returned to the market.

Prices have been rising partially due to a leak in Alaskas main pipeline, which carries a sixth of Americas oil. Around 95pc of production from the regions North Slopes has stopped and the pipeline operator only re-started it on Wednesday at a lower than normal flow rate.

There are quite a few good reasons that could explain and verify the current high oil prices, says Myrto Sokou, analyst at Sucden Financial. The recent shut in the key Trans Alaska pipeline, forecasts about heavy winter conditions in the US North East, as well as strong equity markets, could provide further support to crude oil prices. It might be fairly soon that we can see the oil prices back to the $100 level.

However, experts added on Wednesday that the outages and cold US weather did not entirely explain the recent spike, especially given the $6 difference in European and US benchmark oil prices.

This has come about because the price of London oil, called Brent Crude, is rising faster than the price of US crude oil, known as West Texas Intermediate (WTI).

Brent is seen as a better marker of international demand than WTI, which is a landlocked crude stored far away from the coast mainly reflecting US demand.

Global (news) appetite for oil is growing. The US Department of Energy (JJE - news) raised its forecast to 88.02m barrels of oil consumption per a day from 87.78m estimated last month.

Speculators may also be targeting the London oil price, betting that the price will go above $100. Global hedge funds have pumped millions of pounds into oil futures pushing the number of contracts held by financial traders to a four-year high.

http://uk.finance.yahoo.com/news/Brent-Crude-oil-hits-two-year-tele-2422867242.html

naughty hali-wali! .... you're behaving like your mentor here and you know it only aggravates TossA

The only TossA round here is cynic, as proven by the crap he posts.

You only need to check other BB's on here for posts by cynic to see what a moron he is. I am not the only one that thinks this, its A CONCENSUS!!!!

cielo - 11 Jan 2011 16:13 - 422 of 440

I think someone ( cynic ) has scape from the mad house.

Moved my NOP cash to EOG just now, reasons below.


As I feared and posted last week following the action against drilling the Adriatic, Sicily is now being targeted by activists, its news in Italy today. They want to use the 'Mediterranean Action Plan', which as one of its aims "to limit and intervene promptly on oil pollution". So not only is the UK facing action in the woods, Shell Italia are facing opposition in Sicily!


Translated from Italian news:

According to data from environmental groups, would be more than a hundred permits required or existing research in the Mediterranean. Many of which affect their own Sicily.

Yet, according to environmentalists, a way to stop the drills there. It's called Mediterranean Action Plan, created under the auspices of UNEP (United Nation Environment Program), the plan foresees the creation of a network of Marine Protected Areas in the Mediterranean. Among these, the most important is just the Strait of Sicily, for some years the object of desire of the oil.

Mediterranean Action Plan
http://www.unepmap.org/index.php?module=content2&catid=001001002

so ramp ramp ramp suddenly turned into dump dump dump and let's change horses shall we

cynic, still a prick I see, can't tell the difference between buying and selling based on news and the drivel between your ears. Tossa!

oh now i see .... you're just such a brilliant chap, that your exotic utterances of what stocks one should buy or sell are quite beyond my amoeba intellect ..... now how on earth do i EVER manage to make a bean from shares? ..... perhaps a phrenologist could shed some light on that .... anyway good to see that you sign off with your new and apposite handle

cynic, all anyone needs, to know the depths of your investment prowess, is a proctologist.

now that's a good name for HMRC, for they seem very keen on taking large samples from me each year

Guyana drill April, not Q1 but early Q2.

http://www.caribbeanpressreleases.com/articles/8013/1/Guyana-Oil-and-gas-industry-prospects-still-high--President-Jagdeo/Page1.html