EnCore Oil plc (LSE:EO.) is a UK based oil and gas exploration and production (E&P) company quoted on AIM. EnCore hold a balanced portfolio of licences, primarily focused on offshore UKCS. The company also own just under 30 per cent equity in AIM listed Egdon Resources plc (LSE: EDR), a focused onshore UK E&P company.
Our strategy is designed to create shareholder value principally through the successful exploration and appraisal of prospects and discoveries.
Key elements of this strategy are:
Focus on Areas of Proven Expertise
- We focus mainly on the UKCS, initially taking high equities in licences - with the objective of generating opportunities that could add real value, rather than simply large equity or acreage positions.
- Opportunities outside the UKCS will also be considered where we can apply our expertise and experience.
- We plan to operate licences only where necessary to make sure that evaluation momentum is created. Once an evaluation programme is in place we are happy for other companies to take over this role, so we can focus our resources on new opportunities.
Balanced Risk Profile
- We carefully balance the risk profile of our projects, ranging from high impact offshore exploration drilling through to onshore appraisal drilling.
- We will only consider adding value through the acquisition of commercially proved reserves when there are opportunities at the right price that will also, ideally, add value to our other prospects.
- We aim to farm-out a proportion of our high-equity licences, either through exchange to broaden our portfolio, or by bringing in partners with access to drilling rigs who can advance the evaluation process.
- Opportunistic Approach
We always take a pragmatic and opportunistic approach to both new opportunities and consolidation within the sector.
We are always ready to divest or swap part or all of our interest in a successful project at the appropriate time in its life cycle. We assess the best time by considering the specific asset in relation to: future capital requirements and its source(s) and remaining risk profile - whether that's appraisal, development or production or sunk costs versus market value - as well as strategic positioning.
Latest EnCore Oil News
The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, announces that it has appointed Alan Booth (aged 56) as a Non-Executive Director. His appointment will take effect following the Company's AGM on 21 January 2015. Alan Booth has 32 years'... Wednesday, December 17, 2014
Premier Oil announce that the Reduction Court Order has been delivered to the Registrar of Companies and the scheme of arrangement under Part 26 of the Companies Act 2006 to effect the proposed acquisition by Premier of the entire issued and to be issued share capital of EnCore Oil plc has therefore... Monday, January 16, 2012
DEO Petroleum plc, the oil and gas development and production company focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce that the amalgamation agreement to combine the Licence P218 Block 15/21a Gamma Sub Area ("Gamma") and Block 15/21g (&... Thursday, January 12, 2012
Premier Oil plc is pleased to note the announcement made by EnCore Oil plc regarding the sanction by the Court of the scheme of arrangement under Part 26 of the Companies Act 2006 to effect the proposed acquisition by Premier of the entire issued and to be issued share capital of EnCore. In order f... Wednesday, January 11, 2012
All EnCore Oil News
This assignment is a consequence of the agreement by which Egdon acquired certain UK and French assets from EnCore, and which completed in 2010. The new licence is located immediately offshore from existing Isle of Wight onshore licence, PEDL 240 where Egdon also has a 7.5% interest acquired from E... Tuesday, January 10, 2012