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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:5777V EnCore Oil PLC 26 April 2007 PRESS RELEASE For immediate release: 26 April 2007 EnCore Oil plc ("EnCore" or the "Company") EnCore Progresses French Exploration Licence EnCore Oil plc (LSE: EO.) is pleased to announce that agreement has been reached to form a partnership for its licence application in the Paris basin. The Mairy licence (formerly Vitry la Ville) is situated close to Chalons sur Marne and covers an area of 444 square kilometres. In response to a suggestion by the French regulatory authorities, following two separate applications for a licence in this area, EnCore (E&P) Limited has agreed with both Lundin International ("Lundin"), and Toreador Energy France ("Toreador") to combine their applications. Lundin will hold 40 per cent. and operate the licence, Toreador and EnCore will each own a 30 per cent. interest. It is anticipated that the licence award should now be confirmed by the authorities in the next few months. Lundin is an experienced operator in the region with a number of exploration and production licences. Toreador also owns and operates oil fields and exploration acreage in the region. The licence contains the previously producing LVB-1 well, which produced approximately 59,000 barrels of oil during 688 producing days before being abandoned. Commenting on the award, Alan Booth, Chief Executive Officer of EnCore Oil plc, said: "We are pleased to announce this addition to our portfolio with our first interest in France, which we expect to be formally awarded shortly. We believe the licence has great potential and are particularly pleased to be entering into partnership with Lundin and Toreador, both experienced operators in the area." Graham Dore B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore's Exploration Director, who has over 19 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement. For further information 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)20 7202 2601 Yvonne Fraser +44 (0)20 7202 2609 Hanson Westhouse Limited Tim Feather +44 (0)113 246 2610 KBC Peel Hunt Jonathan Marren +44 (0)20 7418 8900 Glossary of Technical Terms "barrel" one barrel of oil; 1 barrel = 35 Imperial gallons (approx.), or 159 litres (approx.); 7.5 barrels = 1 tonne (approx.); 6.29 barrels = 1 cubic metre This information is provided by RNS The company news service from the London Stock Exchange END MSCIFMTTMMATBMR
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