It’s been quite a good week, portfolio is up again… Encore, Matra and Berkeley minerals have all moved in the right direction…Encore released news on the Cladhan appraisal well 210/30a-4 located in UK North Sea Block 210/30a. Very good results;
“This is an important result for Cladhan. The well has confirmed both the presence of a large oil column in the main Cladhan reservoir as well as a new hydrocarbon bearing reservoir sequence, and has yet to find an Oil Water Contact. The next side-track to the east will evaluate the fan structure some 1,000 feet deeper, and has the potential to encounter improved net to gross as well as establishing Oil Water Contacts for both reservoir sequences. This will be followed by a side-track to the south which is designed to confirm the presence of oil in the Central channel”.
Berkeley Minerals is also giving out positive vibes. Two reasonably significant director buys just announced, albeit by the same director! This on top of the Kabwe aquisition agreement signing in the end of March and planned future aquisitions of more tailings sites, all help move things in the right direction. – The Chinese buy out rumours can’t hurt the SP in the short term.
Matra are climbing back slowly after last weeks production update. I expect to see further rises as the flow rates are increased over the coming weeks/months. Still a good buy.
Good luck all!