|Europa Oil & Gas
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Europa Oil & Gas Share Discussion Threads
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|Very strange day - think the market thought it would drop and it didn't. I am a buyer now under 5p - I guess I won't be buying anymore now.
A run up now to the Druid drill should bring the share price closer to 10p. It happened before when Dunquin was drilled only this time we have more acreage and what appears to be a very confident PVR/Cairn team.
Success for them at Druid will be massive for us. Failure should only see us retreat temporarily to present share price|
|picked a few more up today|
|I sense it will all work itself out but it takes time. Planners are notoriously uneducated, underfunded and uninterested. It means nothing to them. A peaceful life is what the seek. The eventual outcome is governed by law so unless the council have deep pockets they are ultimately screwed.|
|You have to be careful what you wish for. This was referred back to the SoS under pressure from the Drill or Drop people. I am sure the local residents will be delighted to know that the swampies will be in town for another 6 months. If there had been no objections at either Brockham or Holmwood - all would have been over by now and the dust settled.
EOG on the other hand really don't have much of a problem with a continued delay and more work to do that they are getting paid for by the consortium.
News on the Oil Price that seems to have skipped a lot of folk by is that the US (Trump) has now started selling of the SPR to fund the SPR (or the Wall maybe?). Once that is finished the OP may return closer to $60.|
|We had two planning applications being discussed today by Surrey County Council for Holmwood. There's a webcast of the meeting here:
MO/2016/1563 Perimeter security fencing etc.
It seems that the Secretary of State said, on Monday, that there must be 'environmental impact assessments undertaken'. So the application has been taken off the agenda. Looks like another delay :( I wonder if this is anything to do with the Angus Energy situation?
MO/2016/1752 Landscape and Restoration Plan
I think it was approved with a rewording of a condition.|
|I have been looking through the well history offshore Ireland - great GIS website - looking for history of wells in the South Porcupine basin. As far as I can see of the 200 wells/sidetracks in Irish Offshore history only two have been drilled in or around the South Porcupine. Dunquin in 2013 which we know had at one time a massive oil reservoir and may still have some accumulations and the other was 43/13-1 drilled by BP in 1988 with Oil Shows.
On the other hand there has been plenty of activity in the North Porcupine 'basin' which includes Spanish Point and Connemara discoveries but also plenty of dry holes.
So as far as I can tell the Southern Basin has a 100% strike rate on finding active hydrocarbon systems. Hopefully Druid will continue the success rate.|
|Personally I have great hopes for Ireland and for onshore UK but for France none at all. Egdon have been in France for ages and only drilled one well that I can recall, with Hess, which never had a result announced and ever since Hess have been in dispute with the French govt. But maybe EOG will put out a magnificent RNS tomorrow to prove me wrong!|
|Interesting times at Corrib with Shell trying to offload their stake. Vermillion as one of the remaining partners know us well as they farmed in to our Val d Tarbes licence(wonder if that will ever come to fruition?)|
Corrib has taken a long time and much money not to mention aggravation to develop. To be within tie back distance gives a very realistic chance of development, while other gas prospects like Newgrange are a long way from shore. The Corrib consortium would be in a strong negotiating position however.|
|Our update on adjacent licence ...
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is pleased to provide detailed technical information on the recently awarded Licensing Options (‘LO’) 16/20 and 16/21. Europa has a 100% interest in, and is operator of, seven licences in the Atlantic basins offshore Ireland including LO 16/20 and LO 16/21, which cover 945 km2 and 832 km2 respectively in the Greater Corrib play in the Slyne Basin and are near the producing Corrib gas field.
Several large gas leads identified across both LO 16/20 and LO 16/21 in the Greater Corrib area of the Slyne Basin - a hydrocarbon play proven by the Corrib gas field
Gross mean un-risked prospective resources of 1 TCF identified in LO 16/20
Gross mean un-risked indicative resources of 0.5 TCF identified in LO 16/21
The Greater Corrib play comprises Triassic sandstone reservoirs in tilted fault block structures with hydrocarbons generated from Carboniferous source rocks
Water depths range from 300 – 2000m and the licences are already partially covered by historic 3D seismic data as well as extensive 2D seismic
Strategy to expedite exploration by securing a farm-in partner(s) with which to reprocess historic 3D seismic over LO 16/20 and LO 16/21 and to mature leads to drillable prospect status|
|20% free carry would be an excellent outcome for EOG.|
|Wow - surely news on the horizon for us as well. That really is good news for EOG and opens up the potential there. A completely different prospect and one that could come to fruition sooner than later.|
|In July 2016, Faroe was awarded Licensing Option 16/23 (Faroe 100% and operator), in the Slyne/Erris Basin in Ireland, approximately 15 kilometres east of the producing Corrib gas field (operated by Shell), which came on-stream at the end of 2015. The Company sees considerable exploration potential in this licence option and has recently executed a farm-out agreement with Nexen. Under the terms of the farm-out agreement, upon completion which is also subject to regulatory consent, Nexen will take over operatorship of this licence and an 80% working interest (Faroe 20%) and in return will meet the full costs of the associated work programme including any acquisition of seismic data and the drilling of an exploration well.|
|Got to laugh at their newsletter. Bunch of monkeys.|
Surrey County Council has received AND APPROVED a brand new TEN MONTH application for the installation of security fencing, a security cabin and the closing of the access track and a large part of the drill site|
|Woodside are planning a drill next spring (named Beaufort) FEL5/13 is adjacent to one of ours and Woodside have the licence to the east of it as well.
From their annual report ... published this month
We increased our significant position in Ireland through the award of
Licensing Option (LO) 16/14 in the south-east Porcupine Basin following
a successful bid in the 2015 Atlantic Ireland Licensing Round. The LO
commenced on 1 March 2016 for a two year term.
Extensive 3D seismic surveys were conducted in 2016, including
of 3D data in LO 16/14 and 2,400 km2
of 3D data in Frontier
Exploration Licences (FELs) 3/14 and 5/14. These surveys, Granuaile
and Bréanann respectively, were successfully completed back to back,
within time and under budget. Data is currently being processed, with
final products expected in Q3 2017.
Environmental and well engineering studies have commenced in
preparation for drilling a well in FEL 5/13, possibly as early as 2018.|
|Jus ramp away mate there only on a few of us here!. It's great to hear the positives and also the balanced views. It is my most boring investment. More boring than a telephone call with Curry.
Which reminds my CP, I bought some HAWK yesterday LOL|
|still too cheap imo, hard to pick up stock though, only managed 150 yesterday. will try for more under 6|
|I try hard not to ramp just emphasize the positives but sometimes I can't help myself!
More out of frustration but our time will come - too much to ignore.|
|The price is laughable but we are unloved. No one really ramping this which is preferable but it will come. I know of 2 people buying reasonable quantities over the last month. Stock will get short and we will rise. Need to clear 6p holders and we should start to re rate. Having said that Wressle should put some cash in the bank when it gets going.|
|From the Irish Examiner ... just the 4 billion barrels then and a Mcap of £12m
"Europa has seven licences off the west coast – holding an estimated combined four billion barrels of oil equivalent. It is actively looking for development partners for three more of them."|
|bought some LOGP today - no reason other than I like a good rumour and Friday seems like its going to be a lucky day ...|
|not much stock about, good news and price should move quickly,imo|
|"Angus Energy announces that it has now received final regulatory consent from the Oil and Gas Authority ("OGA") to acquire a 12.5% interest in UK onshore Weald Basin licence PEDL143, via the farm-in arrangement with Europa Oil & Gas plc ("Europa") as announced on 6 February 2017.|
|A pity about Druids Nephew but more news this morning from PVR and Faroe that I might try and conflate.
On the one hand Goldman Sachs now taking a 3% stake in PVR - these are investment bankers and not geologists. They know what is going on in the M&A market not 10,000ft underground. Couple that with market rumours and my guess is that there is an acquisition in the pipeline not oil.
If they were taking an interest in Druid they would be also take note of the 135m water column that Faroe have just discovered. Sometimes even the most experienced operators miss out.
Also from the PVR BB we have news of a start date for Druid - request to tender for supply ship starting 1st June (30 to 60 days)
Hopefully I have it all wrong and Goldman are building a stake in Porcupine companies and they will soon be buying into EOG! LOL|