07/04/2008
Central Europe-focused Aurelian Oil & Gas has farmed fellow AIM counter JKX Oil & Gas into its Medzilaborce and Shina licences in Slovakia, where it will retain 75 per cent, and is particularly bullish over prospects at Siekierki in Poland. Despite a trebling of losses last year to £5.3 million, the company draws encouragement from independent confirmation of a contingent resource of 190 billion cubic feet at Siekierki.
Steered by managing director Michael Seymour, Aurelian is already producing in Romania and looking at new concessions at Kalisz, Torzym and Cybinka in Poland. The company has also identified new potential targets in Bulgaria.
Floated last year at 55p, Aurelian shares had fallen to 29.25p by last February, when Growth Company Investor suggested they were a recovery punt. They have now bounced to 37.5p and could well fare better than some sector peers.
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| Market cap: | £50.4m |
| PE Forecast: | n/a |
| Share price: | 37.5p |
| AIM | £23.05m |
17.00p
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-1.25p
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| Other company articles: |
| 10/11/2008 |
| 02/07/2008 |
| 07/04/2008 |
| 04/04/2008 |
| 08/02/2008 |
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