Third choice for 2007 (as someone has LEAD already ) would be IPL (Indago Petroleum) at the present offer price of 59p.
Although IPL suffered from an initial drilling failure, their latest completed well West Bhukka-2 struck a rich vein and will go into production in early 2008, see the article below :
They have another well due for completion early in the New Year, this being Hawamel-1. On completion of this then the really big high impact drilling starts (not that Hawamel-1 is a tiddler), with the Al Jariya-1 (to be drilled on the Jebel Hafit prospect in Block 31, Oman) and Zad-1 (to be drilled on the Adam prospect in Block 47, Oman).
Al Jariya-1 represents over a billion barrels equivalent target.
They are well funded for the work programme and certainly could double on just the speculation during the drilling of their high impact prospect in H1 07.
Web Site :
Their last interims are here (into Pre Tax Profit as well) :
Worth a look, a nice quiet BB thread, always a good sign, and a very large prospective target coming soon. They have production, they will have a load more soon enough, they are fully funded for their exploration programme and all in all look good in the risk/reward ratio’s IMO.
