Option money at Aurelian

The chief executive of Aurelian Oil & Gas, Rowen Bainbridge, characterised 2011 as "an incredibly challenging year" which tested the company’s "courage and resilience in adversity". Those virtues wouldn’t have gone amiss with shareholders either, given that Aurelian’s share price plummeted midway through last year on news of severe operational difficulties at the Siekierki gas field in Poland. Perhaps the only good news is that the company has adequate cash resources (€63.4m) to fund its exploration & appraisal work well into 2013, which might provide enough breathing space to secure a commercially viable farm-out.

visible-status-Subscription-Only story-url-Aurelian_Results_230412.xml