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Additional Information
Market: AIM
Sector: Energy
EPIC: AUL
Latest Price: 16.88p  (3.05% Ascending)
52-week High: 73.00p
52-week Low: 15.50p
Market Cap: 83.43M
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Aurelian Oil & Gas
www.aurelianoil.com

Aurelian Oil & Gas PLC, was founded in December 2002, and is focused on the re-emerging Central and Eastern European oil and gas markets, the oldest producing oil province in the world.

Current projects span the region from Poland to Bulgaria, with production in Romania, a deep appraisal well drilled on a large structure in Poland in March 2007 to be developed with a further horizontal well to be drilled in 2010, together with exciting exploration prospects including projects in four countries, Romania (4 blocks), Slovakia (3 blocks), Bulgaria (2 blocks) and Poland (14 blocks). Aurelian is the operator in all of these except Bulgaria.

Full Aurelian Oil & Gas profile here
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Aurelian Oil & Gas climbs after largest shareholder raises stake

14th Nov 2011, 9:55 am by Sergei Balashov Toscafund’s total shareholding amounts to 114.92 million shares representing a 23.25 percent stake in Aurelian Oil & Gas

EU focused explorer Aurelian Oil & Gas (LON:AUL) said that its largest shareholder Toscafund Asset Management has bought more shares and now owns more than 23 percent of the company.

Last Friday, Aurelian was notified by Toscafund that it had purchased nearly 1.4 million shares in the company. As a result, it now holds 101.56 million shares and a further 13.36 million shares owned under “financial instruments with similar economic effect to qualifying financial instruments”.

Toscafund’s total shareholding amounts to 114.92 million shares representing a 23.25 percent stake in Aurelian Oil & Gas.

Investors welcomed the news as shares in Aurelian rallied three percent to trade at 25.25 pence this morning, valuing the company at £124.8 million.

The share purchase by Toscafund came less than a week after another major shareholder in Aurelian Kulczyk Investments acquired 1.75 million shares in the company to increase its interest to more than 68 million shares, giving it a stake of 13.77 percent.

Back in October, Aurelian announced a new gas discovery in Poland, which was welcomed by City analysts.

The Krzesinki-1 exploration well, which has been drilled on the same licence as the Siekierki tight gas field, encountered a 65 metre gas column. According to Aurelian, the discovery contains between 10 and 20 billion cubic feet (bcf) of gas in place.

In a note to clients, finnCap analyst Will Arnstein said that, he believes that Krzesinki should be able to flow gas to surface without stimulation.

He noted that the 10-20 bcf gas in place estimates fell short of Aurelian’s pre-drill estimates of 60 bcf, but said the result was still encouraging. Repeating a ‘buy’ recommendation, Arnstein said that Aurelian shares remained ‘oversold’ on London’s AIM market.

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