Aurelian Oil & Gas

Seymour Pierce initiates coverage with a "buy" rating and 31p price target.

Seymour Pierce initiates coverage with a "buy" rating and 31p price target.

Oriel Securities reiterates its "buy" recommendation.

Oriel Securities reiterates its "buy" recommendation.

Press: 28.11.11: -0.75, (18.75) Press: Aurelian was in focus after announcing that it had entered an agreement with Kulczyk Investments for... read more

Press: 28.11.11: -0.75, (18.75) Press: Aurelian was in focus after announcing that it had entered an agreement with Kulczyk Investments for co-operation in oil and gas activities in Poland ? which Oriel Securities called ?a sensible agreement that should allow Aurelian to complete larger acquisitions?. But the shares fell following news that Mark Reid had resigned as chief financial officer. Source - Financial Times

Press: Aurelian Oil & Gas rose on strong rumours that its board has rejected a bid approach worth 25p a share. Last month the company appointed... read more

Press: Aurelian Oil & Gas rose on strong rumours that its board has rejected a 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 GBP86million and is sitting on net cash of around GBP70million, 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. Data indicated that the gas recovery from the appraisal well was lower than anticipated and the recoverable resource could be between 4-8bn cubic feet, rather than the 16- 20billion cubic feet that the company was expecting. The well was also producing higher levels of water than anticipated. Jan Kulczyk, Poland?s richest man, owns 13.8 per cent of Aurelian via his conglomerate Kulczyk Investments, while Martin Hughes?s Toscafund sits on 23 per cent. Source - Mail