Now lets see where were we? Ah yes; here we are. Encore oil are currently sat on a huge find as we all know at Catcher with an expected increase in OIP.
Now Cladhan; currently estimated to be 200 mb with the down dip side track drill thought to be about to encounter MORE oil! Yes there’s a whole host of whispers doing the rounds here. I expect that a 150p price target WILL BE REACHED BEFORE VERY LONG! Make sure you take your profit. Derisk it!
Remember Encore are known to be well into the side-track drill. Best guess here in the city is that news could come tomorrow but (the infamous “but”) my understanding is that operations are in full flow which means that early next week is more likely. Currently trading up on the day as the expectation grows of further good news. 150p is a certainty providing the news from catcher and cladhan is positive. Always do your own research and do not rely on anonymous bloggers who keep getting it right!!!!!
- UPDATE 1-EnCore sees Cladhan well producing over 15,000 bopd (reuters.com)
- Sterling Resources confirms North Sea Cladhan find (reuters.com)
- Encore, Wintershall find more North Sea oil-report (reuters.com)
- Sterling Announces Successful Well Test at Cladhan (newswire.ca)
- EnCore completes asset sale to Egdon (newstatesman.com)