Aurelian’s key asset is the Siekierki gas field in Poland, which is currently under development and due to come on-stream in Q4 2012. Poland is presen,tly taking steps to achieve gas self-sufficiency by shifting its dependence away from Russian imports. We believe Aurelian is well-placed to capitalise on Europe’s strong gas demand whilst also benefiting from Poland’s beneficial taxation regime. We therefore initiate coverage with a Buy recommendation and an overall target price of 120p, discounted to 84p to reflect the implicit long-term risk of development to first stage production
Now 17.5p have taken a punt with 25k
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IGas Energy plc is exploring for, appraising, developing and producing oil and gas resources in Great Britain. It is engaged in both unconventional and conventional hydrocarbons on-shore in Britain. In the North West and Staffordshire it has more than 500,000 acres under license, which are for the development of unconventional resources. In the East Midlands, it has two production centers: Welton and Gainsborough/Beckingham. It produces hydrocarbons in the East Midlands. As of March 31, 2012, production from this area accounted for approximately 60% of its total production. The Welton area is made up of six fields and a gathering center where the produced oil, gas and water are separated. On December 14, 2011, the Company acquired Star Energy Group Limited. On March 9, 2011, the Company acquired Nexen Exploration UK Limited. Effective March 1, 2013, the Company acquired PR Singleton Ltd, a oil and gas exploration and production company from Providence Resources PLC. more »
JKX Oil & Gas plc (JKX) is a United Kingdom-based company. The principal activities of the Company and its subsidiaries are the exploration for, appraisal and development of oil and gas reserves. The Company operates two exploration permits in Bulgaria, which include an onshore extension of the Tertiary age western Black Sea Basin, which is the subject of deep water exploration activity. During the year ended December 31, 2009, it completed acquisition of a 250 kilometer three dimensional (3D) seismic survey. The Company’s subsidiaries include Adygea Gas B.V., Baltic Catering Services, Baltic Energy Trading Ltd, Eastern Ukrainian Pipeline Ltd (EUP), EuroDril Ltd, JKX Bulgaria Ltd (BUL) and JKX Carpathian BV. more »
Bowleven plc is engaged in oil and gas exploration. It holds, through its wholly owned subsidiary, EurOil Limited, a 75% equity interest in the Etinde Permit area being three shallow water blocks in offshore Cameroon, West Africa: Blocks MLHP 5, MLHP 6 and MLHP 7. In total, it has 2,316 square kilometers of exploration acreage located across the Rio del Rey and Douala basins. EurOil Limited has a 100% equity interest in the Bomono Permit, onshore Cameroon, extending to approximately 2,328 square kilometers in the Douala Basin. It also holds its interests in its Cameroon operations. It also holds, through its subsidiary FirstAfrica Oil Limited, a 100% equity interest in both the East Orovinyare offshore block in Gabon, which contains an existing oil discovery that it is seeking to develop, and the Epaemeno Block which is 1,340 square kilometers of exploration acreage in onshore Gabon. In March 2012, It sold its entire equity interest in the EOV Permit, offshore Gabon, to Perenco SA. more »
