Proactiveinvestors United Kingdom Aurelian Oil & Gas

RNS press release - Operational Update

Mon, 30 Apr 2012 07:00:00 +0100

RNS press release - Posting of Report and Accounts

Fri, 27 Apr 2012 16:00:00 +0100

RNS press release - Final Results

Mon, 23 Apr 2012 07:00:00 +0100

RNS press release - Change of name of nominated adviser

Wed, 11 Apr 2012 07:00:00 +0100

RNS press release - Operational Update

Thu, 22 Mar 2012 07:00:00 +0000

RNS press release - Holding(s) in Company

Wed, 14 Mar 2012 17:52:00 +0000

RNS press release - Licence Extension

Fri, 24 Feb 2012 07:00:00 +0000

RNS press release - Form 8 (OPD) Aurelian Oil & Gas Plc

Fri, 10 Feb 2012 07:00:00 +0000

RNS press release - Holding(s) in Company

Tue, 07 Feb 2012 07:01:00 +0000

RNS press release - Siekierki Project Update & Strategic Review

Wed, 01 Feb 2012 07:00:00 +0000

RNS press release - Corporate Presentation Update

Mon, 09 Jan 2012 09:31:00 +0000

RNS press release - Polish Licence Awards

Wed, 04 Jan 2012 07:00:00 +0000

RNS press release - Operational Update

Fri, 30 Dec 2011 07:00:00 +0000

UPDATE: Aurelian Oil & Gas and shareholder Kulczyk Investments in Polish cooperation agreement

Mon, 28 Nov 2011 15:18:00 +0000

Aurelian Oil & Gas (LON:AUL) is to cooperate with 13.77 per cent shareholder Kulczyk Investments SA in upstream oil and gas opportunities in Poland.

The parties have signed a Relationship and Area of Mutual Interest (R&AMI) agreement under which they will establish a strategic partnership.

Kulczyk and Aurelian will jointly originate and invest in upstream oil and gas opportunities in Poland and co-operate in gas marketing, procurement of oilfield services and, in time, the procurement of midstream processing and production infrastructure.

As part of the agreeement, and where operatorship is available, Aurelian will operate all licences that the partnership co-invests into, with Kulczyk bringing significant capital and strong downstream and gas commercialisation capabilities to the venture, Aurelian said.

Kulczyk is a large industrial group with interests in a broad range of sectors in Poland, including integrated energy which it is seeking to grow further through increased investment in the Polish upstream sector.

Aurelian chief executive Rowen Bainbridge said: "Kulczyk Investments is a strong, well-funded, local partner who we know well and have a long affiliation with.

"Excellent synergies exist between our technical capability and Kulczyk Investments' M&A and gas commercialisation skills. We see this agreement as key catalyst to support the growth of Aurelian's Polish business going forward."

Kulczyk’s business interests, particularly within the energy sector, are prominent across Poland, and therefore this agreement should be seen as a very positive step within the market, said broker Westhouse in a note.

"It should give Aurelian advantages over other E&P companies attempting to exploit shale gas plays within Poland, namely 3Legs Resources, San Leon Energy and FX Energy.

"Kulczyk’s commitment to Aurelian was also demonstrated recently, when it increased its holding in the company, following the disappointing flow test result from the Trzek-3 multi-fracced horizontal well on the Siekierki project," said the broker.

"Once Aurelian can demonstrate that it is able to complete and operate shale gas wells, and achieve commercial flow rates, the benefits of Kulczyk as a major shareholder, and today’s agreement, will become more apparent," concluded Westhouse.

In a separate statement today, Aurelian said its chief financial officer Mark Reid had resigned as CFO and also from the board to pursue other career projects.

Non-executive director John Matthews, who joined the Aurelian board in September 2010, has been appointed as acting finance director, also with immediate effect.

Last month, Aurelian reported a new gas discovery in the country, in the Krzesinki-1 exploration well, which was drilled on the same licence as the Siekierki tight gas field the group is currently developing.

Earlier this month, Aurelian’s largest shareholder, Toscafund Asset Management, bought 1.4 million more company shares and now owns 23.25 per cent of the company. Shortly prior to that, Kulczyk had increased its holding in Aurelian by 1.75 million shares to 68 million shares, giving it the current 13.77 per cent stake.

Aurelian Oil & Gas finance chief resigns

Mon, 28 Nov 2011 13:57:00 +0000

Mark Reid, chief financial officer of Aurelian Oil & Gas (LON:AUL), has resigned from the position and from the board, the company said in a statement this afternoon.

Reid has stepped down to pursue other career projects, the firm said.

Non-executive director John Matthews, who joined the Aurelian board in September 2010, has been appointed as acting finance director, also with immediate effect.

Chairman of the company John Conlin will take over from Matthews as chairman of the audit committee.

Conlin said this afternoon: "Mark has made an outstanding contribution to Aurelian since joining in 2009.

"The board and I are disappointed to lose him as a colleague and a director, and we wish him and his family well with his future plans."

RNS press release - Directorate Change

Mon, 28 Nov 2011 13:31:00 +0000

Aurelian Oil & Gas and shareholder Kulczyk Investments in Polish cooperation agreement

Mon, 28 Nov 2011 07:31:00 +0000

RNS press release - Joint Co-operation Agreement

Mon, 28 Nov 2011 07:00:00 +0000

Aurelian and Europa Oil and Gas say Horodnic-1 well is likely to be un-commercial

Tue, 15 Nov 2011 07:42:00 +0000

Aurelian Oil & Gas (LON:AUL) this morning told investors that the shale found in the latest Romanian appraisal well, Horodnic-1, is likely to be un-commercial.

The well was drilled to a depth of 1,660 metres to target an interval within the Sarmatian-Badenian section. This was present in the Voitinel-1 well, which is around 2.5 kilometres away.

Horodnic-1 encountered a gross interval of approximately 40 metres, Aurelian said. But Elevated gas readings were restricted to the topmost section.

According to Aurelian this indicates that the interval is likely to be un-commercial. The well is currently being plugged and abandoned.

Horodnic-1 is part of an exploration joint venture with state firm Romgaz and Europa Oil & Gas (LON:EOG), which own 37.50 per cent and 28.75 per cent respectively. Aurelian owns the remaining 33.75 per cent.

The well is expected to cost €2.5 million. Aurelian’s share of the costs will be €840,000.

"Whilst the primary objective section in Horodnic-1 was encountered, it is disappointing that it does not appear to contain commercial quantities of gas,” said chief executive Rowen Bainbridge.

“That said, this low cost commitment well has significantly increased our understanding of the Voitinel trend and also provided interesting reservoir indicators of a separate structure, that we are currently assessing using seismic acquired earlier in the year.”

Aurelian explained that Horodnic-1 encountered additional, well-developed, sands near target. This additional target was found below the regional Badenian Anhydrite.

It said that these sands form a target reservoir in a separate structure. The new target is currently being evaluated using the seismic data that was acquired earlier this year.

Bainbridge added: “The partner group will use the information gained from Horodnic-1 to further inform our appraisal activities and choice of subsequent well location on this interesting trend. A further update will be provided in the coming months."

In a separate statement Europa also confirmed that it is still in talks with a potential farm-in partner for its wholly-owned Brates Licences in Romania, which hosts the Barchiz prospect.

RNS press release - Romanian operational update

Tue, 15 Nov 2011 07:00:00 +0000