EnCore Oil and Gas

INVESTORS CHRONICLE

25/11/05

Oil Quest's shares are suspended, and reports that it's set to become a reverse takeover vehicle for privately-owned EnCore Oil and Gas appear to be true. Earlier this month, it seems that EnCore may have purchased seven North Sea licences from Petro-Canada. This would make up for the two dry wells on the Isle of Wight, where Northern Petroleum was the operator. Oil Quest (formerly Hereward Ventures, shorn of its gold interests) had a 10 per cent stake in that exploration acreage. It also owns a 15 per cent stake in a gas block in the Cleveland Basin, where operator Egdon is drilling two wells.



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Ord price: 12.25p (susp.) Market value: £27.2m
Touch: 11.5-13p 12-month High: 31.25p Low: 12.25p
Dividend yield: nil PE ratio: na
Net asset value: 2.14p Net cash: £3.95m




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Year to Pre-tax Earnings Dividend
31 Mar profit (£000) per share (p) per share (p)

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2004 -708 -3.55 nil
30 Jun
2005* -2,179 -7.14 nil

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Market makers: 3
Traded on Aim
Last IC view: 3 Dec 2004 page 15
*15 months



A takeover is good news, as is Egdon's share-price performance. Good value.
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From the Sunday Telegraph - 05/02/06



The team that discovered the Buzzard oil field are close to agreeing a reverse takeover of OILQ. The new co. will be called Encore oil and will be run by Alan Booth former chairman of EnCana. EnCana discovered Buzzard, the largest largest UK oil field discovered for a decade.

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Geoff Foster in today's Daily Mail - 07/02/06

Suspended at 15.5 in Nov. OILQ should return this week. The former Encana UK management team which sold out to Nexen Petroleum in 2004 is reversing four privately owned companies into Oil Quest. The current Oil Quest board will step down and the new group, headed by the highly respected Alan Booth,will be renamed Encore Oil. The enlarged company will be valued at 32M.
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The Times February 07, 2006


Smaller stock to watch


Oil Quest Resources, whose shares have been suspended at 15.625p since November 17, is expected to announce as early as today details of a reverse takeover that will value the AIM-listed company at £32 million. Oil Quest plans to acquire North Sea exploration assets and six undeveloped discoveries from EnCore, a group headed by Alan Booth, the former EnCana UK boss. He will be joined on Oil Quest’s new-look board by Graham Doré, who was involved in the Buzzard North Sea oil find, and Mike Lynch, the former Intrepid Energy chief executive, who will be non-executive chairman.
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Good article on Oilbarrel.com:

Oil Quest Resources Agrees Reverse Takeover Of North Sea player EnCore

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1139364049&feed=oilbarrel_en

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http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1141005677&feed=oilbarrel_en

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http://money.independent.co.uk/personal_finance/invest_save/article346108.ece

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New Encore web site. fb

http://www.encoreoil.co.uk/



http://oilquest.net/206382_Admission_clean.pdf