(NPE.L) Nautical Petroleum PLC Buy/Sell

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Author	Wellsite View Profile \| Add to favourites \| Ignore
Date posted	2009-10-29 22:14
Subject	Re: sp - topping up? View parent message
Votes for this Posting	Voted 1 time. Not voted down.
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This company has a very frim asset base. Mariner is really no different from the hughly successful Captain heavy oil field. The reason it was not developed by Chevron is simply because they had better things to do with their cash & manpower. With Statoil now running the show the odds of Mariner being developed is much greater. They have stated they need $74/bbl to make a good return. I personally do not think NPE will ever see first oil from Mariner or Kraken, they, IMHO, will sell out as soon as the Mariner FDP has been sanctioned. To be in the party NPE shall need to raise > $500 M for dev costs. There simply is not the cash available, regardless of the parent company, to them. Personally, I think £3 would be a low price but WTFDIK - tilted contacts anyone ? It has always baffled me why investors throw their money at theri neighbour XEL, who have probably the worst field in the North Sea. Keep the faith Dude W$
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