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<title>Proactiveinvestors United Kingdom Wessex Exploration</title>
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43148/wessex-exploration-chairman-david-bramhill-steps-down-43148.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said David Bramhill has resigned as non-executive chairman with immediate effect. <br /><br />In a statement, it said it would like to thank Mr Bramhill for his contribution to the company, particularly his efforts in achieving a successful AIM flotation - in March 2011-, and wishes him well for the future.<br /><br />Wessex has started the process to recruit a replacement.<br /><br />It plans to appoint at least one non-executive director who will be independent of management.</p> ]]></description>
<pubDate>Tue, 22 May 2012 07:51:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Tue, 22 May 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[News - Tullow Oil outlines extensive exploration programme for Zaedyus ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42875/tullow-oil-outlines-extensive-exploration-programme-for-zaedyus-42875.html</link>
<description><![CDATA[<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>]]></description>
<pubDate>Wed, 16 May 2012 07:28:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
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<title><![CDATA[RNS press release - End of Offer Period ]]></title>
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<pubDate>Thu, 12 Apr 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update (Replacement) ]]></title>
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<pubDate>Mon, 02 Apr 2012 09:48:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Form 8 (OPD) - Wessex Exploration PLC ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2686a/</link>
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<pubDate>Wed, 28 Mar 2012 12:52:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</link>
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<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
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<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
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<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</link>
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<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
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<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</link>
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<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</link>
<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
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<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
<pubDate>Mon, 19 Mar 2012 00:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</link>
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
<p> </p> ]]></description>
<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Southern England Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</link>
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<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ]]></description>
<pubDate>Mon, 05 Mar 2012 08:25:00 +0000</pubDate>
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"id" => "43148",
"title" => "News - Wessex Exploration chairman David Bramhill steps down",
"pubdate" => "2012-05-22 07:51:00",
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"title" => "News - Tullow Oil outlines extensive exploration programme for Zaedyus",
"pubdate" => "2012-05-16 07:28:00",
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"description" => "<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>",
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"title" => "RNS press release - Guyane Update",
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"id" => "41371",
"title" => "News - Wessex Exploration: Total walks away from possible takeover",
"pubdate" => "2012-04-12 07:38:00",
"seftitle" => "wessex-exploration-total-walks-away-from-possible-takeover-41371.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ",
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"id" => "40726",
"title" => "News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover",
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"description" => "26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail",
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"title" => "News - Wessex Exploration shares soar on £71 mln Total bid approach ",
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"description" => "<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
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"description" => "19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times",
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"title" => "News - Wessex Exploration: Razorback seismic programme completed successfully",
"pubdate" => "2012-03-15 07:41:00",
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
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"title" => "RNS press release - Southern England Update",
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array(
"id" => "39761",
"title" => "News - Wessex Exploration to prepare English projects for drilling",
"pubdate" => "2012-03-05 08:25:00",
"seftitle" => "wessex-exploration-to-prepare-english-projects-for-drilling-39761.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
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<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said David Bramhill has resigned as non-executive chairman with immediate effect. <br /><br />In a statement, it said it would like to thank Mr Bramhill for his contribution to the company, particularly his efforts in achieving a successful AIM flotation - in March 2011-, and wishes him well for the future.<br /><br />Wessex has started the process to recruit a replacement.<br /><br />It plans to appoint at least one non-executive director who will be independent of management.</p> ]]></description>
<pubDate>Tue, 22 May 2012 07:51:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Tue, 22 May 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[News - Tullow Oil outlines extensive exploration programme for Zaedyus ]]></title>
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<description><![CDATA[<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>]]></description>
<pubDate>Wed, 16 May 2012 07:28:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
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<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</guid>
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<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</link>
<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</guid>
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<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</link>
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<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
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<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</link>
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<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</link>
<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
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<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
<pubDate>Mon, 19 Mar 2012 00:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</link>
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
<p> </p> ]]></description>
<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Southern England Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</link>
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<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ]]></description>
<pubDate>Mon, 05 Mar 2012 08:25:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43148/wessex-exploration-chairman-david-bramhill-steps-down-43148.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said David Bramhill has resigned as non-executive chairman with immediate effect. <br /><br />In a statement, it said it would like to thank Mr Bramhill for his contribution to the company, particularly his efforts in achieving a successful AIM flotation - in March 2011-, and wishes him well for the future.<br /><br />Wessex has started the process to recruit a replacement.<br /><br />It plans to appoint at least one non-executive director who will be independent of management.</p> ]]></description>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Tue, 22 May 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[News - Tullow Oil outlines extensive exploration programme for Zaedyus ]]></title>
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<description><![CDATA[<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>]]></description>
<pubDate>Wed, 16 May 2012 07:28:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
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<title><![CDATA[RNS press release - End of Offer Period ]]></title>
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<pubDate>Thu, 12 Apr 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update (Replacement) ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5791a/</link>
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<pubDate>Mon, 02 Apr 2012 09:48:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Form 8 (OPD) - Wessex Exploration PLC ]]></title>
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<pubDate>Wed, 28 Mar 2012 12:52:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
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<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
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<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</link>
<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
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<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
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<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
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<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
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<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
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<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
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<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
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<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
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<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
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<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
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<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
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"title" => "News - Wessex Exploration chairman David Bramhill steps down",
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"title" => "News - Wessex Exploration: Total walks away from possible takeover",
"pubdate" => "2012-04-12 07:38:00",
"seftitle" => "wessex-exploration-total-walks-away-from-possible-takeover-41371.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
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<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
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"title" => "RNS press release - Statement re Possible Offer",
"pubdate" => "2012-03-26 12:00:00",
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"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/"
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"title" => "Broker press",
"pubdate" => "2012-03-26 00:00:00",
"seftitle" => "",
"description" => "26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail",
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"id" => "120319wsx6271z",
"title" => "RNS press release - Rule 2.10 Announcement",
"pubdate" => "2012-03-19 14:18:00",
"seftitle" => "",
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"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/"
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array(
"id" => "40423",
"title" => "News - Wessex Exploration shares soar on £71 mln Total bid approach ",
"pubdate" => "2012-03-19 11:23:00",
"seftitle" => "wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html",
"description" => "<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html"
),
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"pubdate" => "2012-03-19 00:00:00",
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"description" => "19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times",
"link" => ""
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array(
"id" => "40273",
"title" => "News - Wessex Exploration: Razorback seismic programme completed successfully",
"pubdate" => "2012-03-15 07:41:00",
"seftitle" => "wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html",
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
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"title" => "News - Wessex Exploration to prepare English projects for drilling",
"pubdate" => "2012-03-05 08:25:00",
"seftitle" => "wessex-exploration-to-prepare-english-projects-for-drilling-39761.html",
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<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ",
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43148/wessex-exploration-chairman-david-bramhill-steps-down-43148.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said David Bramhill has resigned as non-executive chairman with immediate effect. <br /><br />In a statement, it said it would like to thank Mr Bramhill for his contribution to the company, particularly his efforts in achieving a successful AIM flotation - in March 2011-, and wishes him well for the future.<br /><br />Wessex has started the process to recruit a replacement.<br /><br />It plans to appoint at least one non-executive director who will be independent of management.</p> ]]></description>
<pubDate>Tue, 22 May 2012 07:51:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Tue, 22 May 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[News - Tullow Oil outlines extensive exploration programme for Zaedyus ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42875/tullow-oil-outlines-extensive-exploration-programme-for-zaedyus-42875.html</link>
<description><![CDATA[<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>]]></description>
<pubDate>Wed, 16 May 2012 07:28:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
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<title><![CDATA[RNS press release - End of Offer Period ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412wsx1645b/</link>
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<pubDate>Thu, 12 Apr 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update (Replacement) ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5791a/</link>
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<pubDate>Mon, 02 Apr 2012 09:48:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5448a/</link>
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<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Form 8 (OPD) - Wessex Exploration PLC ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2686a/</link>
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<pubDate>Wed, 28 Mar 2012 12:52:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</link>
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<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
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<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</link>
<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</link>
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<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
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<title><![CDATA[Broker press ]]></title>
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<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</link>
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<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</link>
<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
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<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
<pubDate>Mon, 19 Mar 2012 00:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</link>
<description><![CDATA[<p> </p>
<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
<p> </p> ]]></description>
<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Southern England Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ]]></description>
<pubDate>Mon, 05 Mar 2012 08:25:00 +0000</pubDate>
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<title>Proactiveinvestors United Kingdom Wessex Exploration</title>
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43148/wessex-exploration-chairman-david-bramhill-steps-down-43148.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said David Bramhill has resigned as non-executive chairman with immediate effect. <br /><br />In a statement, it said it would like to thank Mr Bramhill for his contribution to the company, particularly his efforts in achieving a successful AIM flotation - in March 2011-, and wishes him well for the future.<br /><br />Wessex has started the process to recruit a replacement.<br /><br />It plans to appoint at least one non-executive director who will be independent of management.</p> ]]></description>
<pubDate>Tue, 22 May 2012 07:51:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205228022d/</link>
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<pubDate>Tue, 22 May 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[News - Tullow Oil outlines extensive exploration programme for Zaedyus ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42875/tullow-oil-outlines-extensive-exploration-programme-for-zaedyus-42875.html</link>
<description><![CDATA[<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>]]></description>
<pubDate>Wed, 16 May 2012 07:28:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516wsx4421d/</link>
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<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
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<title><![CDATA[RNS press release - End of Offer Period ]]></title>
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<pubDate>Thu, 12 Apr 2012 07:01:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update (Replacement) ]]></title>
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<pubDate>Mon, 02 Apr 2012 09:48:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
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<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Form 8 (OPD) - Wessex Exploration PLC ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2686a/</link>
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<pubDate>Wed, 28 Mar 2012 12:52:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</link>
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<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
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<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
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<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</link>
<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</link>
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<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
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<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</link>
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<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</link>
<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
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<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
<pubDate>Mon, 19 Mar 2012 00:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</link>
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
<p> </p> ]]></description>
<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Southern England Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</link>
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<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ]]></description>
<pubDate>Mon, 05 Mar 2012 08:25:00 +0000</pubDate>
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"title" => "News - Wessex Exploration chairman David Bramhill steps down",
"pubdate" => "2012-05-22 07:51:00",
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"title" => "News - Tullow Oil outlines extensive exploration programme for Zaedyus",
"pubdate" => "2012-05-16 07:28:00",
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"description" => "<p>Tullow Oil this morning confirmed that a drill ship has been contracted to begin work next month on further exploration of the Zaedyus discovery in French Guiana.</p>",
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"title" => "RNS press release - Guyane Update",
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"title" => "News - Wessex Exploration: Total walks away from possible takeover",
"pubdate" => "2012-04-12 07:38:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
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"title" => "News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover",
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"description" => "26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail",
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"title" => "News - Wessex Exploration shares soar on £71 mln Total bid approach ",
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"description" => "<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
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"title" => "News - Wessex Exploration: Razorback seismic programme completed successfully",
"pubdate" => "2012-03-15 07:41:00",
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<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
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"id" => "39761",
"title" => "News - Wessex Exploration to prepare English projects for drilling",
"pubdate" => "2012-03-05 08:25:00",
"seftitle" => "wessex-exploration-to-prepare-english-projects-for-drilling-39761.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
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<title><![CDATA[News - Wessex Exploration chairman David Bramhill steps down ]]></title>
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<title><![CDATA[RNS press release - Guyane Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516wsx4421d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:05:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516wsx4421d/</guid>
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<item>
<title><![CDATA[News - Wessex Exploration: Total walks away from possible takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that French major Total is not going to acquire the company.</p>
<p>Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.</p>
<p>This morning Wessex said that Total has decided not to proceed further with an offer to buy the company. </p>
<p>The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.</p>
<p>Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.</p>
<p>The other partners are <a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/Tullow+Oil" class="companyPopupTrigger" rel="4512">Tullow Oil</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/4512/tullow-oil-4512.html" class="companyPopupTrigger" rel="4512">LON:TLW</a>) and Shell (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8704/royal-dutch-shell-8704.html" class="companyPopupTrigger" rel="8704">LON:RDSB</a>). Total is the largest stakeholder with a 45 per cent interest.</p>
<p>Wessex owns a 1.25 per cent interest in the venture, alongside <a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" class="companyPopupTrigger" rel="1150">Northern Petroleum</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" class="companyPopupTrigger" rel="1150">LON:NOP</a>) which also has a 1.25 per cent stake.</p>
<p>It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.</p>
<p>Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.</p>
<p> </p> ]]></description>
<pubDate>Thu, 12 Apr 2012 07:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41371/wessex-exploration-total-walks-away-from-possible-takeover-41371.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - End of Offer Period ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412wsx1645b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412wsx1645b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Guyane Update (Replacement) ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5791a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 09:48:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5791a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Guyane Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5448a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402wsx5448a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Form 8 (OPD) - Wessex Exploration PLC ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2686a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 12:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2686a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 10:40:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328wsx2526a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Issue of Equity ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 27 Mar 2012 10:41:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120327wsx1516a/</guid>
</item>
<item>
<title><![CDATA[News - Wessex Exploration: Principal shareholders snub Total’s £71 mln takeover ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</link>
<description><![CDATA[<p>Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.</p>]]></description>
<pubDate>Mon, 26 Mar 2012 12:31:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40726/wessex-exploration-principal-shareholders-snub-totals-71-mln-takeover-40726.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Statement re Possible Offer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 12:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326wsx0735a/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[26.03.12: +0.37, (10.00) Press: Wessex Exploration rose after formally rejecting Total SA?s 10p a share cash offer which its board believes ?undervalues? the company. Dealers reckon Total will have to pay at least 13p a share, while speculation suggests other bidders are hovering. Source - Mail]]></description>
<pubDate>Mon, 26 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<item>
<title><![CDATA[RNS press release - Rule 2.10 Announcement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 14:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319wsx6271z/</guid>
</item>
<item>
<title><![CDATA[News - Wessex Exploration shares soar on £71 mln Total bid approach ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</link>
<description><![CDATA[<p>Total is one of three major oil companies which made the large Zaedyus oil discovery off the coast of South America last year. Wessex Exploration and fellow AIM oil firm Northern Petroleum share a 2.5 per cent in the venture.</p>
<p> </p>]]></description>
<pubDate>Mon, 19 Mar 2012 11:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40423/wessex-exploration-shares-soar-on-71-mln-total-bid-approach--40423.html</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[19.03.12: +2.15, (9.50) Press: Wessex Exploration rose after Total said it had offered to buy Wessex at a price of 10p per share, which would value the company at some GBP72m. Source - Financial Times]]></description>
<pubDate>Mon, 19 Mar 2012 00:00:00 +0000</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[News - Wessex Exploration: Razorback seismic programme completed successfully ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</link>
<description><![CDATA[<p> </p>
<p class="MsoNoSpacing"><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.</p>
<p class="MsoNoSpacing">The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.</p>
<p class="MsoNoSpacing">Wessex said it has excellent data quality and it was a significant improvement over previous surveys.</p>
<p class="MsoNoSpacing">The data processing is expected to take three weeks to complete.</p>
<p class="MsoNoSpacing">Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.</p>
<p class="MsoNoSpacing">This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.</p>
<p class="MsoNoSpacing">Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by <a href="http://www.proactiveinvestors.co.uk/companies/overview/4503/BP" class="companyPopupTrigger" rel="4503">BP</a> as part of a <span style="mso-bidi-font-size: 7.5pt; background: white;">US$610<span> </span></span>million deal with Perenco last year. <br /> <br /> The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.</p>
<p class="MsoNoSpacing">Overall Razorback is estimated to contain 43 million barrels of oil in place.</p>
<p class="MsoNoSpacing">Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of <a href="http://www.proactiveinvestors.co.uk/companies/overview/3289/Norwest+Energy" class="companyPopupTrigger" rel="3289">Norwest Energy</a>, which owns the remaining 75 per cent.</p>
<p> </p> ]]></description>
<pubDate>Thu, 15 Mar 2012 07:41:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40273/wessex-exploration-razorback-seismic-programme-completed-successfully-40273.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Southern England Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 15 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120315wsx3765z/</guid>
</item>
<item>
<title><![CDATA[News - Wessex Exploration to prepare English projects for drilling ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/Wessex+Exploration" class="companyPopupTrigger" rel="9071">Wessex Exploration</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/9071/wessex-exploration-9071.html" class="companyPopupTrigger" rel="9071">LON:WSX</a>) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.</p>
<p>The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.</p>
<p>Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.</p>
<p>The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.</p>
<p>Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.</p>
<p>So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.</p>
<p>“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.</p>
<p>The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.</p>
<p>In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.</p>
<p>Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.</p>
<p> </p> ]]></description>
<pubDate>Mon, 05 Mar 2012 08:25:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39761/wessex-exploration-to-prepare-english-projects-for-drilling-39761.html</guid>
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Total made a £71 million cash offer to buy the company last month. Wessex subsequently snubbed the offer, following shareholder consultation, saying the 10p a share offer undervalues the company.
This morning Wessex said that Total has decided not to proceed further with an offer to buy the company.
The company says it is fully funded for all its current requirements including participation in a Zaedyus appraisal well in addition to a second well, to explore the potential new hydrocarbon frontier which was established with the initial discovery.
Total is one of three major oil companies partnered in the Guyane venture that made the large Zaedyus oil discovery last year.
The other partners are Tullow Oil (LON:TLW) and Shell (LON:RDSB). Total is the largest stakeholder with a 45 per cent interest.
Wessex owns a 1.25 per cent interest in the venture, alongside Northern Petroleum (LON:NOP) which also has a 1.25 per cent stake.
It is expected that drilling will start on the next Zaedyus well in mid-2012. Shell, the project operator, has already hired the Stena DrillMax ICE drill-ship for the drilling programme.
Total’s offer to buy Wessex came just days before the French firm had to evacuate the Elgin platform in the North Sea due to a gas leak. It is currently thought that Total could stop the leak by the end of the month.
]]>
]]>
Wessex Exploration (LON:WSX) today revealed that a seismic exploration programme has successfully been completed on the PEDL239 licence in southern England.
The seismic programme focussed on the Razorback prospect on the Isle of Wight. It was completed on budget and without any issues, it said.
Wessex said it has excellent data quality and it was a significant improvement over previous surveys.
The data processing is expected to take three weeks to complete.
Subsequently, it is planned for the new seismic to be combined with the existing seismic and mapping data of the Razorback prospect.
This should provide sufficient detail to confidently demonstrate the prospects structural integrity, the company said.
Razorback is located in a central position on the Isle of Wight and it is relatively close to the Wytch Farm oil field, which was sold by BP as part of a US$610 million deal with Perenco last year.
The prospect has two targets. The primary target is a Triassic Sherwood Sandstone reservoir and the second is a Jurrassic Oolite reservoir.
Overall Razorback is estimated to contain 43 million barrels of oil in place.
Wessex has a 25 per cent stake in the Razorback project. The venture is operated by Mirrabooka, a subsidiary of Norwest Energy, which owns the remaining 75 per cent.
]]>
Wessex Exploration (LON:WSX) said the key to progress this year is bringing one of its leads in southern England to “drillable status”.
The group owns a number of petroleum exploration and development licences around the Bournemouth and Poole area (both onshore and offshore), close to the prolific Wytch Farm field.
Last year was all about the progress of a much larger proposition where Wessex holds a far smaller stake.
The 85 per cent rise in the firm’s share price in the last year has been fuelled by success off the coast of Guayne, where it owns a 1.25 per cent stake in one of the most exciting oil exploration blocks in world.
Its partners include Shell, Total and Tullow, and results from the first well Zaeyus, were hugely encouraging.
So much so that Wessex was able to raise £12 million to fund its slug of future exploration costs.
“The net proceeds of the placing will primarily be used to ensure the company is able to maintain its percentage share in the upside potential of the project as further drilling and other work is undertaken,” said chairman David Bramhill in a statement accompanying the company’s interim results.
The figures revealed the group is well-funded with £11.9 million in the bank as at December 31.
In the six month period the group posted a loss of £556,871, which is largely irrelevant for a company at this stage in its development.
Wessex also holds a 70 per cent stake in a project on the island of Juan de Nova, which lies in the Mozambique Channel and is an overseas territory of France.
]]>