Amati Vct Share Discussion Threads

[buffin] 04/12/2007 10:31

ATI OIL PLC ("ATI" OR "THE COMPANY")

REQUEST FOR SUSPENSION OF TRADING IN ATI OIL PLC SHARES


The Directors of ATI Oil Plc have requested that trading in the Company's
shares be suspended pending an announcement in respect of the results of a
professional engineering report on the Rovesti oil discovery.

[anubus] 04/12/2007 10:16

shares suspended 04/12/07 ?????????????

[herbertboy] 07/11/2007 18:18

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ATI Oil plc
News
ATI Oil plc - Final Results

ATI Oil Plc
Martin House
5 Martin Lane
London
EC4R 0DP

Tel: [phone]
Fax: [phone]
Email: [e-mail]
Website: www.ati-oil.com

ATI OIL PLC ("ATI" OR "THE COMPANY")

FINAL RESULTS FOR THE YEAR ENDED 30 APRIL 2007

HIGHLIGHTS - OPERATIONAL

* 9.83 MILLION BARRELS OF P2 RESERVES AT GIOVE ATTRIBUTABLE TO ATI ASSESSED
BY INDEPENDENT PETROLEUM ENGINEERS, WITH NPV10 VALUE OF US$130 MILLION AT
US$70 BRENT, EQUIVALENT TO 66P PER SHARE

* EXAMINATION OF ROVESTI DISCOVERY UNDERWAY AND INDEPENDENT PETROLEUM
ENGINEERING REPORT EXPECTED IMMINENTLY

* FARM OUT OF SAVIO AND LONGASTRINO LICENCES (BOTH TARGETING 150 BCF GAS IN
PLACE)

* SEISMIC SURVEY OFFSHORE SICILY COMPLETED AND FARMOUTS UNDER DISCUSSION

HIGHLIGHTS - FINANCIAL

* FINANCE FACILITY INCREASED TO GBP2,000,000 AND REPAYMENT DATE EXTENDED

* CASH IN HAND OF GBP403,310 (2006: GBP381,961)

* LOSS FOR THE YEAR OF GBP295,062 (2006 RESTATED: GBP347,467)

* ANALYSTS VALUE ATI AT UP TO 74P PER SHARE AS THE COMPANY FIRMS UP CONCRETE
VALUE VIA INDEPENDENT REPORTS AND FARM OUT DEALS



CHAIRMAN'S STATEMENT

During the year we have progressed from the building of our large licence
position in Italy, over 13,000 km 2 in which we have one half of the commercial
interest, towards a more active operational mode of geophysical and drilling
works with the recording of 1,500 km of offshore seismic and preparation for
drilling our first well on the Savio licence with one on Longastrino to follow.
Stratic Energy Corporation ("Stratic") have a drilling option over these wells
which on exercise would cover our budgeted exploration drilling and testing in
return for the assignment of half of our interests.

The full or preliminary award of four, and an anticipated fifth, licence in the
southern Adriatic Sea has established a new core area of 3,681km 2 in the
highly prospective Durres Basin which stretches from southern Italy to Albania.
The licences contain the Giove, Rovesti and Medusa oil discoveries which
provide a potential leap to the field development phase.

A recent independent petroleum engineering report has attributed 19.67 million
barrels of economically recoverable "Probable" ("P2") reserves to Giove, (50%
ATI), with NPV10 values for the oil field of US$261 million at US$70 Brent and
US$177 million at US$60 Brent. At US$70 Brent this gives a value to ATI of
about GBP63 million at current exchange rates. A similar report on the Rovesti
oil discovery is expected shortly.

These events have achieved a high added asset value at a low cost in line with
our corporate strategy during a period in which a loss of GBP0.295 million was
reported. Activities during the period were undertaken with the benefits of
financing through partial drawdown of GBP1.75 million loan facility provided by
Northern Petroleum Plc ("Northern").

The facility has subsequently been increased by GBP250,000 and the repayment
date extended until 31 May 2008. Your board has taken this step, with the
support of 37% shareholder Northern, to enable further time for the completion
of efforts for the realisation of the value of certain assets to provide
further funding for the projected increase in operational activities.

The immediate strategy is to drill two substantial gas prospects on the Savio
and Longastrino licences in the eastern Po Valley. Stratic holds a drilling
option on both wells to pay up to EUR7.05 million and EUR1 million drilling and
testing costs respectively to earn half of each of ATI's and Northern's
interests in each licence. Stratic recently acquired Grove Energy which in 2005
discovered the Abbadesse gas field in the San Marco licence which lies
immediately between the Savio and Longastrino licences in the same target
formation. The prospects have been assessed to have the potential of 150 bcf
gas in place at Savio, with a prospect in Longastrino being similar in size,
and a high recovery factor can be anticipated.

With the receipt of the petroleum engineering report for Giove and the Rovesti
report expected shortly, we are reviewing appraisal drilling and development
options with the Operator with an emphasis upon their early initiation.
Discussions with owners of drilling and FPSO vessels are currently active.

The November 2006 1,500 km 2D seismic survey was followed by a successful
interpretation and mapping exercise and has progressed to a `farmout' process
to contract with a third party to drill and conduct other operations on the
licences at no cost to ATI in return for acquiring a part of the licences. This
activity is ongoing.

Last year I asked shareholders to appreciate the sheer scale of this joint
endeavour with Northern. We have a 50% interest in an area of more than 60
North Sea size blocks. We have now made good progress where our operational
activities have been undertaken and we are now seeking to realise the value of
the Giove and Rovesti oil when the oil price has very substantially risen from
the times of original discovery and our licensing application decision.

It has been a good year of progress with yet greater progress expected.




D R MUSGROVE
Chairman
31 October 2007

[henry_africa] 01/7/2007 17:19

Soul, Interesting, looks like they hold some serious licences. I have been in and out of NOP for a year or two and like their business (if not their speed!) Whats your take on ATI?

[soulsauce] 29/6/2007 07:35

Henry there is a link on NOP site.

[henry_africa] 29/6/2007 07:26

Can I have some price history please?

[sagem] 18/3/2007 20:43

ATI Oil Plc is a UK registered oil and gas exploration company which holds a 50% beneficial interest in 21 oil and gas permits and applications at various stages of progress in both offshore and onshore Italy, covering an area in excess of 11,000 square kilometres. ATI's partner in Italy is Northern Petroleum Plc, the operator owner of the remaining 50% interest in the licences. The key licences are those located in the highly productive Po Basin gas and oil province in northern Italy, where there are seven gas prospects and leads, together with the three offshore licences considered to have the highest upside oil potential in the southern Adriatic Sea. In the last 12 months, the company has continued to make steady progress in assembling an attractive portfolio of Italian exploration assets while guarding its cash reserves very closely.

In August 2006, ATI concluded its first farmout agreement with Stratic Energy covering the Savio and Longastrino licences in the eastern Po basin, flanked by the recently developed Abbadesse gas field. Under the terms of the agreement, Stratic has committed to fund the acquisition of seismic data together with related technical interpretation work up to a maximum of 1 million euros in exchange for the options to drill a single well on each permit to earn a 50% working interest in both permits. If the options are exercised, Stratic's total commitment on both permits is 9.5 million euros, and both Northern Petroleum and ATI Oil, who currently hold each 50% of the licences, will have their interest decreased by 25% respectively, with Northern Petroleum (UK) Ltd retaining operatorship.

More recently, ATI announced on 26th February, the issue of the final decree of three offshore licences by the Italian authorities. The licences decreed, adjacent to the company's existing west of Sicily acreage, are also located in the Apennine-Maghreb thrust belt offshore in Italian waters west of Sicily and adjacent to the Tunisian boundary. The enlarged area, now comprising 4,370 square kilometres, is believed to have the requisite factors to be a significant petroleum province. The decree of these licences enables the company to progress its exploration efforts over an expanded area. The interpretation of results of the company's seismic survey completed in November 2006 on the three existing thrust belt licences, shows the potential for many prospects that individually could contain reserves of a billion barrels of oil.

ATI does not have the resources to mount a major drilling programme on its own - it must farm out some of its acreage to larger and more powerful partners. ATI and Northern will be further presenting the now expanded licensed areas to potential farm-in partners in March on completion of the processing and mapping of the seismic data acquired last year.

The company reported a net loss of 56,418 pounds (2005: loss of 112,212 pounds), for the six months to 31st October 2006 with net cash of 280,277 pounds and net assets of 383,915 pounds (2005: 508,469 pounds) at the period end. ATI Oil is effectively run by Derek Musgrove and Chris Foss of AIM listed Northern Petroleum and by sharing many overheads with Northern it has a minimal burn rate. We believe that its monthly cashburn is less than 10,000 pounds and thus even today it should have cash of at least 250,000 pounds.

At 17.25p, ATI is valued at 15.92 million pounds. GE&CR initiated coverage on 29th November 2004, valuing ATI's acreage on a heavily risk weighted basis at 14.5 million pounds or 16.5p a share. Since then the oil price has risen and ATI has firmed up on its portfolio of licenses and thus there is no reason to reduce our valuation. However, with further farm-out agreements and the growing need for gas supplies in Western Europe could see the stock trading at a significant premium to that asset value, if it can achieve any success in accelerating a drilling programme. Thus we would expect further farm-in deal to prompt a significant re-rating. As the moment, our stance is 'hold'.

[tonyx] 14/2/2006 20:08

New thread here-let me know what you guys think.

[krutt] 13/2/2006 10:47

Up 4% today - still going very well.
Anyone fancy making a new BB with charts?

[tonyx] 10/2/2006 16:44

Price down but there seems to be 2 large buys of 100K & 50K. I wonder if thats more boardroom buying.

[drago] 01/2/2006 16:40

a chart at the top would help

[krutt] 30/1/2006 15:45

I know i got burnt myself a while back on an OFEX stock, but this is performing well and similar to CDE which has much more interest.

[adyfc] 30/1/2006 15:09

Krutt traders arent keen on ofex stocks could be different if they move to aim.

[krutt] 30/1/2006 14:04

Suprised so little interest on this BB as this is my best performing share at the moment.

[tonyx] 30/1/2006 12:44

Upward momentum continuing-nice!

[krutt] 29/1/2006 21:19

Welcome Tony, I think we could see major moves here once word is out.

[tonyx] 27/1/2006 20:25

Have accumulated 70K of these since RNS on 24/1

Upbeat update, directors buys....looking good.

[krutt] 26/1/2006 16:46

Just noticed Directors recent purchases always a good sign!

[krutt] 25/1/2006 16:16

told you so!

[krutt] 24/1/2006 15:44

Great jump today - more to come.

[krutt] 24/1/2006 13:42

any chance of price graphs?

[sagem] 20/1/2006 22:33

The December Monthly View
18 January 2005

Italian oil explorer ATI has made just two announcements since we initiated coverage on 29th November. The Italian Government has issued a final decree confirming ownership of the Cerasa block in the Po Valley and of block CR.147.NP offshore Sicily. In both cases ATI has a 50% stake with Northern Petroleum having the other 50%. The company has also announced the appointment of City veteran Ian Livingstone as a non-executive director.

The reprocessing of oil 2D and 3D seismic is underway with a view to identifying key exploration targets for drilling later this year. We continue to value ATI at 14.5 million pounds on a heavily risk weighted DCF basis and thus at 9.25p the shares remain a speculative buy.