Aurelian’s key asset is the Siekierki gas field in Poland, which is currently under development and due to come on-stream in Q4 2012. Poland is presen,tly taking steps to achieve gas self-sufficiency by shifting its dependence away from Russian imports. We believe Aurelian is well-placed to capitalise on Europe’s strong gas demand whilst also benefiting from Poland’s beneficial taxation regime. We therefore initiate coverage with a Buy recommendation and an overall target price of 120p, discounted to 84p to reflect the implicit long-term risk of development to first stage production
Now 17.5p have taken a punt with 25k

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