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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Encore Oil | LSE:EO. | London | Ordinary Share | GB00B06KL332 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 69.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 1726G EnCore Oil PLC 20 October 2008 Press Release For immediate release: 20 October 2008 EnCore Oil plc ("EnCore" or "the Company") Esmond evaluation well - drilling update EnCore Oil plc (LSE: EO.) provides the following update following an incident on the Energy Enhancer drilling rig at the weekend. A small fire broke out early Sunday morning 19th October in the ventilation system on the Energy Enhancer drilling rig. As this resulted in smoke entering the accommodation area of the rig, 34 non-essential personnel were evacuated from the rig to the stand-by vessel and were further transported to shore. 45 essential personnel remain on board. The fire has been dealt with and now an inspection of the electrical systems on the rig is being carried out to check for damage and to try and establish the cause of the fire. Alan Booth, Chief Executive Officer, commented: "The safety of the crew is paramount whenever such incidents occur and I am pleased that the appropriate action was taken by the Offshore Installation Manager. The well is currently approximately 10 metres above the reservoir and once essential safety checks are carried out it is anticipated drilling will recommence shortly thereafter." As part of the commercial arrangements between Star Energy (now a subsidiary of Petronas) and EnCore, Star Energy will bear the entire cost of drilling of this well. EnCore has a 50 per cent. interest in the project and Star Energy, the operator, also has a 50 per cent. interest. For further information, please contact: EnCore Oil plc www.encoreoil.co.uk Alan Booth, Chief Executive Officer +44 (0)20 7224 4546 Eugene Whyms, Chief Financial Officer Aquila Financial Limited www.aquila-financial.com Peter Reilly +44 (0) 118 979 4100 Hanson Westhouse Limited Tim Feather / Matthew Johnson +44 (0)113 246 2610 KBC Peel Hunt Jonathan Marren +44 (0)20 7418 8900 Notes to Editors: EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM. At EnCore, it is not the Company's aim to build a full cycle E&P company. The principal strategy is to create shareholder value through the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the appropriate point in its life cycle and return value directly to shareholders wherever possible. EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces 10 per cent. of the UK's total oil production. All EnCore's commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities. EnCore currently holds a balanced portfolio of interests in licences both on and offshore, primarily focused on the UKCS. This portfolio includes an active drilling programme. www.encoreoil.co.uk This information is provided by RNS The company news service from the London Stock Exchange END DRLBLBDGCSBGGIC
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