Encore Oil feted as Small Cap of the Year in Oil Industry Awards
North Sea explorer, Encore Oil (LON:EO.) was feted by fellow oil industry executives as the Small Cap of the Year at the annual Oil Council awards in London last Thursday. With more than 300 from across the industry present, the gala dinner was held to recognise the industry’s best performing companies and executives in 2010. Ross Campbell, CEO of The Oil Council, observed that, while there have been notable lows over the last 12 months following BP (LON:BP.)'s GOM disaster, the awards were intended to celebrate the significant successes of leaders "who represent the tenacity, innovation and incredible progress that this industry continues to make".
After a difficult 2009, shares in Encore Oil have risen over 7 times this year, following a find which was described by the company as “exceptional” in June at their Catcher field, 110 miles east of Aberdeen. Encore will soon be doing further drilling and its rig, the GSF Galaxy II is currently waiting for improved weather conditions in Dundee Harbour. Earlier this month, it was revealed that anxious investors are so keen to check progress that they are clogging up one of Dundee City Council's most popular webpages to train the city’s live Webcam on the rig.
The dinner took place in the ballroom of the Northumberland, Trafalgar Square, a newly restored venue unused for over 70 years which boasts some of the most impressive Victorian interiors in Europe. The judging panel included a range of leading industry executives & analysts, including Brian O’Cathain, the CEO of Petroceltic International (LON:PCI), David Greer, the former CEO of Regal Petroleum (LON:RPT), Terry Newendorp CEO of energy investment bank, Taylor-DeJongh, Marie-Aimée Boury of Societe Generale, Peter Hitchens of Panmure Gordon and James Henderson, the Managing Director of Pelham Bell Pottinger.
On the night, the judges awarded the Small Cap prize to Encore but the company was pipped by Falklands group, Rockhopper Exploration (LON:RKH) for the title of “Explorer of the Year”. Rockhopper's strength in this category came as little surprise. Its share price soared earlier this year on news that it had become the first (and so far only) explorer in the region to give investors something to cheer about. Nevertheless, EnCore’s CEO, Alan Booth won the most prestigious award for Executive of the Year, fending off competition from Amjad Beisu of EnQuest (LON:ENQ), Ronald Pantin of Pacific Rubiales (TSE:PRE) and Tom Cross of Dana Petroleum. Tom Cross had been seen by some as a favourite in recognition of its efforts at Dana, which was taken over recently in a titanic struggle by KNOC. However, observers noted that the recent stratospheric share price performance of The Parkmead Group (LON:PMG) is in itself clear recognition of the esteem in which Tom is held by investors.
The prize for Mid-Cap of the Year went to Tullow Oil Plc (LON:TLW), fending off competition from Heritage Oil (LON:HOIL) and Pacific Rubiales. Observers noted that Tullow has had an extremely successful year, albeit one slightly marred by the ongoing tax tangle following its acquisition of Heritage’s stake in the two companies’ Ugandan licenses earlier this year. The other two winners on the night were Petrobras as NOC of the Year and BG Group (LON:BG.) as Major of the Year.
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Rockhopper Exploration plc (RKH) is engaged in exploration and exploitation of its oil and gas acreage. RKH has discovered oil in the Falkland Islands. Its Licences include Licences PL023 & PL024, which represents the southern acreage that it holds within the North Falkland Basin and RKH holds these licences 100% and is the operator; Licences PL032 & PL033, which represents the northern acreage that the group holds within the North Falkland Basin and holds these licences 100% and is the operator, and Licences PL003 & PL004. The Company has a 7.5% working interest in licences PL004a and PL003 and is not the operator. The Company also holds a 25% working interest in licence PL004c. In May 2011, RKH concluded a three dimensional (3D) seismic acquisition program. more »
Petroceltic International plc (Petroceltic) is an international oil and gas exploration, development and production company. The Company focuses to discover and acquire assets with material hydrocarbon resource and to exploit these assets. The geographical focus is Middle East-North Africa (MENA), the Mediterranean basin and the Black Sea. As of November 7, 2012, the Company had operations in Algeria, Bulgaria, Egypt, Italy, Kurdistan Region of Iraq and Romania. Oil and gas exploration is focused in Algeria, Kurdistan Region of Iraq, Romania, and Italy. The Company's development and production operations are located in Bulgaria and Egypt. The Company also has a royalty from certain Kinsale Gas Fields in Ireland. more »
Regal Petroleum plc is an independent oil and gas company. The Company is engaged in oil and gas exploration, development and production. The Company is focused on gas and condensate field development in Ukraine. It has oil and gas interests in Ukraine and Romania. Ukrainian licences are the Company’s primary assets. These licences are known as the MEX-GOL and SV fields (100% Regal-owned) and the interests are operated and managed by the Company as one field. As of December 31, 2011, it held a non-operated 50% interest in the Suceava Block. It subsidiaries include Regal Petroleum Corporation Limited, Regal Petroleum Ukraine Limited, Regal Petroleum Romania SRL and Regal Egypt Limited. On February 14, 2011, the Company completed the sale of the Barlad Concession in Romania to Chevron Exploration and Production SRL. In July 2012, Zeta Petroleum plc acquired 100% interest in Regal Petroleum Romania SRL, which is a wholly owned subsidiary of the Company. more »
