Shares digital

Central European gas play Aurelian Oil & Gas (AUL:AIM) has seen its share price take a battering in the last six months, down to around the 35p mark. There are signs the company’s fortunes might be on the up though after independent energy consultant RPS Energy confirmed the commercial viability of its Siekierki gas project in Poland. The report increased the contingent resource range to 105.5 billion cubic feet of gas (105.5 bcf) and 305.9 bcf of gas, with a best case estimate of 190 bcf. The development will require considerable capital expenditure and last month management told Shares they were looking to bring in a partner. Fox Davies Capital reiterated its ‘buy’ rating on the stock and upped its price target to 115p following the announcement.

by: Tom Sieber