My submission is for Northern Petroleum - currently 58.75p and I think this will more than double in 2006. I posted the following on the "add prediction" button but repeat it here to be on the safe side.!!
Should get at least to 120p during 2006 and probably higher.
My reasons are:
1. Continuing news of further developments in the Netherlands where NOP will be re-opening a number of previously known & capped oil & gas finds in 2006/7. See recent RNS for latest details. These are not exploration prospects but defined oil & gas bearing areas.
2. Expected progress with exploration & development in Italy both on-shore and off-shore. The possibility of a farm-in deal there cannot be ruled out.
3. Finally possible success in Guyane, South America, where NOP has a 1.25% interest in a large off shore licence. This project is 97.5% owned by Hardman Resources and one area, the Matamata Prospect alone could contain recoverable reserves of the order of 500 million to 5.6 billion barrels with the estimated mean recoverable reserves calculated to be 2.4 billion barrels (30 million net to Northern).
4. A recent broker note [Panmure Gordon November 2005] written before the latest Netherlands news of 28th December 2005, gave a target price or 145p
