Europa Oil & Gas (holdin... Share Discussion Threads

[currypasty] 21/8/2017 17:57

I was meaning the deal with UPL. I don't understand the point of it.
Its like selling your garden to a builder to build a house on it subject to planning. He gets the plot at a discount, has no risk, and can walk away if it drags on a bit and he has changed his mind.

Why not wait till we had planning, then sell it?

[jusmasel99] 21/8/2017 17:39

Remember UPL are banking on Hardstoft (so far) and we have a few cards there to play if they make things difficult.

By the way - I just had a look at possible claims against the council - basically forget it - the law is quite clear and on the council's side. The only steps that could be taken would be to go to the Ombudsman and claim for maladministration and only then if that was successful would you have a very slim chance of claiming against them. Certainly not consequential damages.

As for how we got here - please - this is not Egdon's fault or Hugh's. If you think about it it has actually turned out quite nicely in terms of timing. A safeguard against Drombeg failure in some respects.

[currypasty] 21/8/2017 17:19

looks like upl have all the cards, come on hugh, how did we get to this?

[dunderheed] 21/8/2017 15:38

5562 So was that the pleasant surprise?
From my perspective I was lukewarm to it anyway and would prefer upside of future potential cash-flow.
However that is a 'failure' by Hugh surely (?) because potentially what is happening is not what he planned?
All imho of course.

[currypasty] 21/8/2017 15:06

agree jus, re-sell it after permission, may be worth a lot more.. or keep for cash flow

[jusmasel99] 21/8/2017 14:20

I personally wouldn't mind if UPL backed out ... don't know how it would affect cash flow .. but an extra 10% of Wressle would be pretty welcome with the OP on the rise.

[dunderheed] 21/8/2017 14:07

5553 - was that the pleasant surprise? (serious question)

[currypasty] 21/8/2017 14:04

are upland having second thoughts, or running out of cash to pay eog?

[currypasty] 21/8/2017 14:03

The Upland and Upland UK Boards are currently considering their positions in relation to the Wressle Farm-in Agreement (which will involve further discussions with Europa Oil & Gas Limited) given the timing of the appeal process and will issue a further announcement when a decision has been reached by the Upland and Upland UK Boards.

[westmoreland lad] 21/8/2017 11:59

Rayrac no dunderhead. He experienced :-)

[dunderheed] 21/8/2017 11:51

Rayrac we will have to agree to disagree!

[rayrac] 20/8/2017 22:29

I disagree that Hugh can't cut a deal. He worked it well with Cairn?

As for Drombeg,its in the same cretaceous strata as Europa's prospects, which for me, gives more confidence that Drombeg is not a repeat of Druid, which is in a higher strata as we know.

No, i think we could have a pleasant surprise soon.

[ngms27] 18/8/2017 14:17

Ed, oops I meant right above of course. This is from PVRs website:
Located c. 2,750 m BML and structurally up-dip from a potential significant fluid escape feature from the underlying pre-Cretaceous Diablo Ridge

[edgein] 18/8/2017 14:10

JonnyT,

"Lack of source for Drombeg sitting right below what's thought to be the basin source WILL without doubt lower the COS of current drill ready prospects in the vicinity."

Eh? Drombeg sitting below what's thought to be the basin source? Drombeg is a cretaceous target, source is Diablo ridge Jurassic. Cretaceous is above the Jurassic.

Regards,
Ed.

[currypasty] 18/8/2017 14:04

"Hugh cant cut a deal and/or doesn't realise the 'true' situation."

perhaps its time to strengthen the board?

[ngms27] 18/8/2017 13:54

guesswhosback, I never said they will give up but it will undoubtedly make them less likely to drill in the shorter term IF Drombeg has no sign of Hydrocarbons.

Lack of source for Drombeg sitting right above what's thought to be the basin source WILL without doubt lower the COS of current drill ready prospects in the vicinity.

I'm sure all parties will want to understand fully why Drombeg had no source in this event and try and establish a localised reason prior to committing to drills as otherwise they could be totally pointless.

[guesswhosback] 18/8/2017 13:23

Yes agreed, all in the mix. I bet Hugh will be disappointed though having bought a LOT of shares at the last placing. He probably bought more than most?

[7russell] 18/8/2017 12:56

I agree -a lot rides on Drombeg, EOG even released a note highlighting the read across to EOG licenses -Lets hope Drombeg comes in!

[dunderheed] 18/8/2017 12:54

Oh btw I aint got a clue about pvr well but the extra time it appears to be taking could be 'technical' issues or, (optimistically) it could be something more 'interesting'.
I know which I would hope for of course!!
I can remember making the same assumptions for a serica operated well previously and was most disappointed having bought right in at the (intra-day!) top (!) to find the 'delays' were technical and not hc finds!!

[currypasty] 18/8/2017 12:34

market makers knocking us down on a 170k rollover

[guesswhosback] 18/8/2017 09:12

There are bigger operators that need to find oil. They won't give up just cause Ngms says so...Actually reading his posts on PVR makes me think he's turned into a wind up merchant along with the rest of em? For a respected poster on another web site hes sounding a little foolish.

[jusmasel99] 18/8/2017 09:08

THat's a question you would have to put to Total, Cairn, Nexen, Statoil etc ... sure there may be reviews based on what they find at Drombeg particularly if no sniff of Hydrocarbons .. but one dry well (two if you count Druid) doesn't extinguish hope .. just look at the number of wells drilled in the Northern Porcupine that came up empty.

Still different play types to go for and remember Dunquin and the BP well both found hydrocarbons.