Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.
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Wessex Exploration plc (Wessex) was formed to explore the Wessex and Weald Basins of southern England at a time when the prolific Sherwood Sandstone reservoir had just been discovered in the giant Wytch Farm oil field and smaller oil and gas discoveries were being made in the Weald Basin. Wessex completed a regional geological study of these basins and concluded that the complexity of the stratigraphy, structure and geological history of the basins required a careful, disciplined and highly technical approach to hydrocarbon exploration and that additional significant hydrocarbon potential remained in place.
26/03/12
Following shareholder consultation Wessex says Total's £71 million takeover approach undervalues the company.
19/03/12
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.
04/01/12
This morning the group revealed it has been provisionally awarded five exploration blocks in the English Channel. Wessex and its partner now own most of the acreage around Wytch Farm - the UK's largest onshore oilfield which was sold by BP for US$600 million last year.
04/01/12
Wessex Exploration and its Australian partner Norwest Energy have been provisionally awarded five oil exploration blocks in the English Channel.
29/12/11
Its shareholding in the potentially world class exploration area of the coast of Guyane has excited a great deal of interest in Wessex Exploration. But what can we expect from the company in 2012?
01/12/11
Shares in AIM-listed Wessex Exploration were up 4 per cent in afternoon trade as investors reacted positively to the company’s £12 million cash call unveiled earlier in the day. The funds will be used to finance the firm’s continued participation in the Guyane oil block.
01/12/11
Wessex Exploration said it has successfully raised £12 million which will be used to fund its continued participation in the Guyane oil block.
09/09/11
They each own 1.25 per cent of the Guyane Maritime license, which hosts the Tullow operated Zaedyus exploration well that stuck oil today. Although these are fairly small stakes, the license is believed by analysts to have ‘billion-barrel’ potential, therefore Zaedyus could prove to be very significant for these small-cap players.
30/05/11
When we think of Britain’s oil industry most of us immediately picture huge oil rigs out in the wild waters off Scotland’s north coast. But believe it or not there is actually much more oil than you might think right here on dry land.
25/01/11
His departure from Nighthawk Energy came as a surprise to many investors. But David Bramhill is back with two AIM floats - Wessex Exploration and Osceola Hydrocarbons. Here we take a closer look at the companies and their prospects.