The following extract from the article is very significant for Nido.
********************************** The region is even starting to attract some truly micro-cap explorers. One of the awardees in the latest license round was Exall Resources (T.EXL), weighing in at a miniscule market cap of C$25 million at the time of the award. In our analysis of the new licenses for the Casey Energy Confidential, we noted that Exall, because of its size, could well be one of the best plays on the North Sea story, in terms of potential upside. This theory has since proved out?following the awards, EXL has gone from a share price of C$0.36 to as high as C$1.13, up 214% in just three weeks.
If the past is any indication, we expect that many of the companies holding North Sea licenses will enjoy this type of appreciation over the coming months as they work up targets, sign farm-out deals and move closer to drilling. The bottom line is that there aren?t many operating areas left on the planet where junior E&P companies can get exposure to reserves of the size found here.
NDO Price at posting:
0.0¢ Sentiment: None Disclosure: Held
