We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nautical Pet | LSE:NPE | London | Ordinary Share | GB00B3D2ND74 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 449.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/4/2012 08:26 | Another incremental improvement in Nautical's position. | mr macgregor | |
26/4/2012 07:11 | 26 April 2012 Proposed EnQuest acquisition of a third tranche of the Kraken discovery EnQuest PLC ('EnQuest') today announces that it has agreed with First Oil plc ('First Oil') the proposed acquisition of a further 15% interest in blocks 9/2b and 9/2c including the Kraken oil discovery ('Kraken'), bringing EnQuest's total interest in Kraken to 60%. Today's agreement is subject to the normal regulatory and partner consents and is also conditional on EnQuest shareholder approval. In a similar arrangement to that for EnQuest's previous acquisition of 25% of Kraken from Nautical Petroleum plc ('Nautical'), EnQuest proposes to pay First Oil between $90 million and $144 million by way of a development carry in relation to First Oil's remaining 15% interest in Kraken. EnQuest's cash payments will be deferred and EnQuest will be entitled to receive the capital tax allowances normally available for investment in such a development project. Prior to the proposed transaction being announced today, EnQuest had a total interest in Kraken of 45%. The amount payable by EnQuest is dependent on a future determination of the gross 2P reserves in Kraken. If the determination is less than or equal to 100 MMboe, EnQuest will only pay $90 million, by way of development carry. If the determination is less than 166 MMboe, but more than 100 MMboe, then the amount of the development carry will be increased by up to a further $54 million, calculated on a linear pro-rata basis. EnQuest will pay the maximum of $144 million if the future determination of gross 2P reserves is greater than 166 MMboe. Through today's agreement EnQuest also acquires a 15% interest in blocks 9/6a and 9/7b, for no additional consideration. Amjad Bseisu, Chief Executive of EnQuest, said: "EnQuest is pleased to increase further its interest in Kraken, we are enthusiastic about its potential. As with our purchase of a 25% interest from Nautical and based on the maximum carry, the cost per barrel to EnQuest is $6/bbl before tax effects and approximately $2.40/bbl post tax effects. EnQuest's execution team is now leading this development and is taking on operatorship earlier than previously planned; we are combining forces with partners with deep expertise in this project. EnQuest is moving forward one of the most exciting development projects in the UK North Sea." Note. Following EnQuest's previous agreements to acquire 45% of Kraken, the aggregate effect of this latest agreement is such that it is treated as a Class 1 transaction under the FSA Listing Rules, and therefore EnQuest is required to obtain shareholder approval for this transaction in a general meeting. This shareholder approval does not apply retrospectively to EnQuest's previous two Kraken transactions. In due course EnQuest will issue a Class 1 circular and notice of a general meeting of the company. Further information. Kraken is a large heavy oil accumulation in the UK North Sea, located in the East Shetland basin, to the west of the North Viking Graben. It is being progressed to development following successful appraisal and well test results. Following this transaction 15% of Kraken will be held by First Oil and 25% by Nautical. EnQuest anticipates being able to fund its share (including the carry) of the development with its own resources. The determination of Kraken's 2P reserves for the purpose of calculating the total development carry amount will take place following the drilling of two well penetrations in the phase two development areas, one in each of the northern and southern areas, or at latest one year after the date on which the initial $90 million carry has been spent." Following this transaction EnQuest will have a 60% interest in blocks 9/2b, 9/2c, 9/6a and 9/7b, and a 55% interest in blocks 3/22a and 3/26. In addition EnQuest has a farm in option from Nautical for a 45% interest in block 9/1a (Ketos). ENDS | steelwatch | |
25/4/2012 23:01 | How long you see this Orchid well taking Steel? | pigeon1 | |
23/4/2012 10:23 | Slight delay before we get Sedco 711 - Trapoil (AIM: TRAP), the independent oil and gas exploration and appraisal company focused on the UK Continental Shelf ("UKCS") region of the North Sea, has been advised by Summit Petroleum Limited ("Summit") that the 12 [1/4]" hole section of the Orchid well bore has been re-drilled as a mechanical side-track. | steelwatch | |
19/4/2012 21:55 | Should be more of a buzz come May. | steelwatch | |
19/4/2012 16:53 | Tiresome though. | leedskier | |
19/4/2012 16:08 | only if you mean you're shaking in your boots. | bugsmoney | |
19/4/2012 15:27 | a whole lot of shaking going on !!! | curt3 | |
18/4/2012 15:56 | ;) You know I was teasing, but if you had sold 100K I guess it would be just loose change in your portfolio. | leedskier | |
18/4/2012 15:36 | leeds - not sold aught here. Carnaby next month. | steelwatch | |
18/4/2012 15:33 | Revised IMF Global growth forecasts may be helping oil today plus the Falkland Islands explorers. Not all benefitting however. | leedskier | |
18/4/2012 15:16 | Was the 100,000 'O' sale at 345p this afternoon yours steelwatch? | leedskier | |
13/4/2012 12:21 | Meanwhile, Premier is set to begin drilling the Carnaby prospect on the Premier-operated Catcher acreage (UK Block 28/9, Premier equity: 50 percent), where it is targeting Eocene reservoirs, in early May with the Sedco 711 (mid-water semisub) rig. This rig is then scheduled to drill the Coaster prospect (Premier equity: 50 percent) on the neighboring UK Block 28/10a. | steelwatch | |
06/4/2012 15:07 | Four to fight it out for Kraken FPSO contract By Iain Esau London, 04 April 2012 20:44 GMT Four contenders are in the running to supply a floating production, storage and offloading vessel for Nautical Petroleum's Kraken heavy oil project in the UK North Sea. Read the full story in tomorrow's issue of Upstream. Any subscribers out there? | steelwatch | |
03/4/2012 08:08 | Bugs - youre right of course, just a little underwater and sensitive, i have increased my position. | fozzie | |
03/4/2012 08:00 | Cairn now have Agora's 15% of Catcher: | rogsim | |
03/4/2012 01:28 | fozzie In a nutshell - No If you fancy having a flutter elsewhere with your money you might be in good company in the short-term. I see this as a good opportunity to build up my position however. 50-100% upside in 1 - 3 years B. | bugsmoney | |
02/4/2012 12:09 | C.Gains, roll on Friday. Same all over. | haydock | |
02/4/2012 11:47 | Any longer termers got a view on the steady fall away in share price over the last few weeks. Just a drip drip fall every day it seems. | fozzie | |
30/3/2012 19:38 | FoxDavies' Oil Monitor 30th March 2012 - NAUTICAL PETROLEUM | pay dirt | |
30/3/2012 17:57 | Not really. Let the rampers fight it out. | steelwatch |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions