Nautical Petroleum has rallied to its highest since last October after predicting allowances made in yesterday Budget will boost the value of its North Sea assets by almost £100m. Heavy oil related developments have been given a Field Allowance of £800m by the Treasury as a specific target. For full story, click here
Nautical Petroleum plc, the independent Exploration and Production company specialising in the development of heavy oil assets in the UK and Europe reported its Interim Results for the six month period to 31 December 2008. For full story, click here
Nautical Petroleum said although heavy oil was more expensive to produce than conventional resources, the company is not much concerned about falling oil prices. Steve Jenkins, chief executive, Nautical Petroleum said: Nautical’s progress over the past 12 months has resulted in the creation of a solid asset platform from which production and revenue are now [...]
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