Nautical waits on Grenade-3

Nautical Petroleum announced last week that drilling had begun on the Grenade-3 well, in which it has a 22 per cent working interest. The field is thought to contain anything between 68 million and 485 million barrels of heavy oil. The drilling is expected to hit target depth by mid-February. If you bought on my recommendation here in September last year at 10p, continue to hold at the current 9.5p.