The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Very good reading,very undervalued at the moment im sure the market will wake up one day maybe today gla............
Enegi Oil PLC Phoenix Block Update, UK North Sea RNS Number : 6066A Enegi Oil PLC 22 March 2013  ENEGI OIL PLC AIM ticker: 'ENEG' OTC ticker: 'EOLPF' 22 March 2013 Enegi Oil Plc ('Enegi' or 'the Company') Phoenix Block Update, UK North Sea Enegi, the independent oil and gas company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland and Jordan, is pleased to provide the following update on the Phoenix Block, UK North Sea (the "Block"), which contains the Phoenix oil discovery. Under the work programme, the Company is required to obtain 250km2 of 3D data processed to PSTM and PostSTM and Enegi is pleased to announce that it has secured this data over the Block. The Company will now carry out in-house interpretation, subsurface analysis and reservoir modelling to determine the full range of recoverable reserves for the Phoenix discovery. This will incorporate the analysis currently being carried out by Azimuth Limited ("Azimuth") under the terms of the farm in agreement announced on 11 February 2013 and will allow the Company to determine the viability of further appraisal and development. Independently, Azimuth will be considering the additional exploration potential of the Block under the farm in agreement which may lead to further development activity, such potential being in addition to the assessment of the Phoenix discovery. The Phoenix oil discovery was discovered in 2004 by the Shell operated well 22/12a-10. Geologically, the discovery is a low - relief dip closed structure that lies on the Forties-Montrose High, located between the Nelson Field 16km to the northwest and the Montrose Field 12km to the southeast. The Phoenix reservoir is on trend with the Forties, Montrose and Nelson fields and has been proven to contain many similar properties to these fields, as well as the Arbroath and Arkwright fields which have been also identified as analogous to the Phoenix discovery. All of these analogues share the same Palaeocene sandstone formation and have produced light sweet crude with an API range of 38 - 42°. Recovery factors across the fields have ranged from 57% for the Forties field to 34% to the Arkwright field. Permeability and porosity levels across these fields are also considered to be very good leading to significant flow rates being achieved from these fields. The remaining acreage in the Block is also believed to contain a lead and a prospect known as "Lead A" and the "Manx Prospect", respectively which are in the area covered by the agreement with Azimuth. A review of the Phoenix discovery by the Company prior to securing this data, has produced a preliminary minimum STOIIP estimate of 15MMBBL, based on a defined structural closure and the oil-water-contact (OWC) encountered by well 22/12a-10. The previous operator of the Block, indicated a STOIIP of up to 93.5MMBBL. Alan Minty, CEO o
For me is £1.55 per share,making over £10m profit per year debt at around £17.5m so only at 1.65x profit so cash flow takes care of debt.Still trading at only 5x profit bargain gl........
No your not on your own here im just lurking in the background lol gla............
What perfect timing gla..............
................ONWARDS AND UPWARDS GLA.......
Dont worry you are not talking to yourself im still in onwards and upwards gla...
Guys this has only 60m shares in issue so can move fast very quickly gla...
No stopping her at the moment +12.5% gla..
It will get there in time with so little shares in issue,when this moves it moves gla..
For a strong finish gla...thats if anyone is here lol...
Goes +10% gla.....
Yes I agree the daily/weekly/monthly charts are looking very bullish,will be some profit taking along the way but the trend is up gla regards mike...
Am I talking to myself on here +17.86% gla,....
+14% GLA...
Little shake by the mms at about 12.00 now back up at +12% gla...
Everyone gone +9% gla...blue.........................
Rise is false so to speak,i cant see how the ftse/dow have gone this high yet we have the banks,oiles,miners etc no where near there highs when the ftse/dow were at these levels.
Me the one week chart is looking bullish,been looking at one week and one month charts they seem to be more accurate then the hourly/day charts.
Welcome back just in time for a nice rise gla regards mike..