Quick update
Next week will be making an update.
Anna Srokowska-Okonska
Country Manager
Aurelian Oil & Gas PLC in Poland
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There are still fortunes to be made in oil, and you don't need to start your own company and strike oil to make spectacular returns. Finding the right oil penny share company can do that for you.
Three oil stocks to watch
I've seen many companies that offer great potential. I've mentioned many over recent months, including:
• Aurelian Oil & Gas (LSE: AUL), currently drilling in Central Europe.
http://www.stockmarketwire.com/broker-views/
and the BUY recommodation:
http://www.stockmarketwire.com/article/4284097/FLASH-Oriel-Securities-retains-buy-on-Aurelian-Oil-Gas.html
We'll have a good start in the new year.
GLA
Operational Update
Aurelian, the European focused E&P Company, is pleased to provide the following operational update.
Highlights:
· Flow test on Krzesinki-1 gas discovery on Block 207 (Poznan East) commenced
o Flow testing on the Krzesinki-1 exploration well began on 27 December 2011, results expected in the first half of January 2012;
o Results to be incorporated into the Independent Review of Siekierki currently underway; and
o Commercialisation options being evaluated with tie in points being between 5-17km from the gas discovery.
· Niebieszczany-1 discovery
o Well testing in progress by the Operator PGNiG;
o Flow rates from two separate zones 0.6 and 1 MMscf/d plus significant liquids; and
o Appraisal well proposed by PGNiG for 2012 after the final test results.
· Siekierki licence renewed for three years
o Block 207 Poznan East has been renewed up until February 12, 2015, enabling Aurelian to continue the appraisal of the Siekierki gas field and the Krzesinki gas discovery; and
o Block 208 renewal application has been submitted and it is expected that this will be approved shortly. This Block is prospective for Rotliegendes and Zechstein opportunities and is adjacent to the PGNiG-operated "Fences" concessions where a number of gas discoveries have been made.
As their US counterparts across the Pond spent Thanksgiving gobbling down copious amounts of turkey, stuffing and pumpkin pie washed down with numerous bottles of Californian red, dealers at home heard that matters are coming to a head at Aurelian Oil & Gas.
Shares of the central European oil and gas explorer gushed 2p to 18.25p amid strong rumours that its board has rejected a ‘pathetic’ bid approach worth 25p a share. Last month the company appointed investment bank Greenhill to advise on several takeover approaches it had received, and an offer north of 50p a share would have to be tabled before its board took it seriously.
Aurelian is currently valued at £86million and is sitting on net cash of around £70million, or 14p a share. It was left vulnerable to a bid after the shares crashed 60 per cent in one traumatic trading session in September following acutely disappointing results from its second horizontal well at its Siekierki gas field in Poland.
Read more: http://www.thisismoney.co.uk/money/markets/article-2065874/MARKET-REPORT-Dealers-oil-rumour-wheels.html#ixzz1i433ukY5
Is the takeover bidding reported by Aurelian? Where is the information about it available?