Well worth a punt good low price great cash assets
talk of takeover bids and plenty of well news to come and only need 1-2 to be good news!!
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 presently 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
