This week is a VERY important one re’ the above two companies.Institutional investors who have already taken positions in both company’s are thought to be expecting major news this week. Encores AGM (which has had a change of venue) this week may well provide an upbeat commentary on the state of play thus far. There can only be positive news from the Board which should enhance the sp. The Cladhan news on wire-logging is known to be completed and there should be an increase re’ the oil column figures, so it is very important that Encore investors focus on this week.The Catcher drill which the company pencilled in for the middle of this month coincides with the AGM, coincidence or not the Galaxy rig is now in situ.
Once the spud has been confirmed by the operator (Encore) then some believe that the sp of the companies involved can only increase. I think that Encores’ sp certainly has a long way to go a doubling is quite literally very possible bearing in mind that Catcher AND Cladhan still have not yet been fully quantified a minimum 200p has been set here within the city as the bottom book figure!
Nautical are in my opinion still trading at a significant discount as to where they should be. Price targets of 600p often quoted by Brokerages will almost certainly increase with any further oip increases re’ Catcher. When the FDP’s are approved for Kraken, Catcher,Mariner the whispers here are that Nautical could be trading at £10! Yes that’s a massive hike from where they currently are.
So keep your fingers on the pulse and focus on your investments.
As always please research your investments.
- UPDATE 1-EnCore finds more oil at Cladhan, shares rise (reuters.com)
- UPDATE 1-Nautical sells Mariner stake for 87.5 mln stg (reuters.com)
- UPDATE 1-Nautical finds more oil at Kraken, shares soar (reuters.com)
- Sterling Resources confirms North Sea Cladhan find (reuters.com)
- Nautical Petroleum shares jump after Statoil raises North Sea oil field stake (telegraph.co.uk)
- UK North Sea Kraken appraisal well strikes oil: Nautical Petroleum (oilgaspipelines.energy-business-review.com)
- Encore, Wintershall find more North Sea oil-report (reuters.com)