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

[currypasty] 11/9/2017 13:59

as you can see with the date of this thread I started in 2004, that would be a very long time to be unlucky

[guesswhosback] 11/9/2017 13:51

Yes unlucky but only since you arrived....

[currypasty] 11/9/2017 13:17

3 knockbacks in a row, Wressle planning, Holmwood planning, druid/dromberg duster

are we just unlucky?

[jusmasel99] 11/9/2017 12:42

What a strange day so far. I had three drills turning this morning and two of them came up dry - JOG and PVR. Didn't have much in both but still lost a lot. So with two bits of bad news I was expecting another when I went to see my consultant about my back. Last time he recommended pain management and I have been managing to have extreme pain since that visit a year ago. This time he quite unexpectedly recommended and approved an operation on the NHS that I was prepared to pay for privately .. saving me the best part of £10k ... money that I was hoping would come from JOG or PVR.

My emotions are mixed at the moment but I am all for Ed's synopsis and now is the time for all good Weald Men to come to the aid of Europa. I am not sure how we are going to do it but somehow we have to get the Angus Bulls to realise that a) Lidsey produces water that is needed by Brockham to produce oil and b) more importantly we own more of the acreage around Brockham than ANGS do as well as being fully carried by UKOG and ANGS for the actual drill. We have production that covers our running costs and Wressle (God bless Wressle and the Planning Inspector) to come on stream in due course. Our placing is out of the way....

As far as the Porcupine goes I'll look into that further and research the history of the Flemish Pass and Bay du Nord to see how long it took them to come up trumps. Meanwhile - you never know - there may be a little trump card up our sleeves in Padraig ....

The focus of attention in the Porcupine may now change to different play types and we have 2 billion barrels of potential in pre-rift and syn-rift plays that Statoil are more interested in and they are the Bay du Nord champions.

Plus these of course ..

CORRIB ... outstanding possibilities
HARDSTOFT .. look at UPL's presentation on that one .. existing oil field
CLOUGHTON/MAXWELL .. known gas field .. look at Arenite's presentation

ANGS MCAP = £80m
EOG MCAP = £18m

[edgein] 11/9/2017 09:06

Mr Pasty,

Yes of course, did you see the size of the porcupine? There were something like 7 or 8 dry wells in the NS before the first major discovery. Writing off the entire porcupine at this stage would be unwise especially if Drombeg has yet again confirmed oil source.

Regards,
Ed.

[edgein] 11/9/2017 09:03

Dunderheed,

We all knew this was the likely outcome especially after Druid, no shows and a fluid velocity model that showed light oil which turned out to be water. The same model for Drombeg. What needed to be explained was the lack of oil shows in Druid, was there no source or an impervious fault from Diablo ridge. today potentially explains that, oil biodegraded to tar therefore didn't migrate, or previously migrated elsewhere but not through Druid, perhaps on up the Cret fan. So hopefully they'll show this to be the case post-well analysis. That's not a total write off for us at all its potentially proof that again there's widespread source down there, not much use to PVR though on that licence. But again you never know it all depends on time and condition of trap formation. If source is widespread then the chances of an oil discovery increases. Likewise if Druid/Drombeg turned out to be significantly oil saturated didn't mean Shaw would be too.

So now we move towards the main event next H-1, the reason that some of us are here, nout to do with the Irish AM. Look at ANGS and UKOG, soon be time for EOG to play catch up. We're within spitting distance of Brockham and not too far from HH either and UKOG management suggest the KL stretches over 30 miles. We're between Brockham and BB-1. Will we get some cheapuns between now and then, perhaps, but I'm not parting with a single one between here and TD.

Regards,
Ed.

[currypasty] 11/9/2017 09:02

should we be still spending that placing money on the 3D Irish Atlantic?

[dunderheed] 11/9/2017 08:49

excuse me a bit early for me but..
5650 - CP - hasn't this what Hugh ('the dealmaker') been doing for the last two years (LOL).
5652 - Edge - come on this is awful - no real HC's to talk of imho - of course. (Even though there were 80% chanes of this thrown around on here).
Let's see what Total do now?

Re EOG lets' bloody concentrate on Holmwood and get this sorted tehn talk about blue sky stuff after!

[edgein] 11/9/2017 08:11

Mr pasty,

A bit hasty for that. Picture a time where EOG is a substantial UK onshore producer, from say the weald for example. Having exciting and potentially enormous future potential from the porcupine would add an interesting mix. Focus can now turn to Holmwood-1 and folks can get themselves positioned for that. But I cannot see the majors all walking from this huge basin on another dry well, they would have done so after Dunquin. If again they confirm source at Drombeg, which they've hinted at today, then its likely imo only a matter of time before the first discovery.

Regards,
Ed.

[edgein] 11/9/2017 08:08

4sta,

Interesting. Drombeg was always going to be a long shot after druid, then the results there are more interesting than Druid. They think they've discovered biodegraded oil or bitumen in the hole. Suggests again there's a jurassic oil source there, so again possible further evidence of source as well as at Dunquin (substantial residual oil), seems to be getting more oily the further east you go. Its quite possible all of the action lies in the east of the basin as its huge. Multiple dry wells were drilled in the NS before the first major discovery. Hopefully post-drill analysis will confirm the residual oil. Then in years to come Shaw will hopefully show some of that has been trapped on the eastern flank. They're not gonna know until its drilled.

Regards,
Ed.

[currypasty] 11/9/2017 08:04

flog them?

[4sta] 11/9/2017 07:58

What now for our Irish assets?

[rogerlin] 11/9/2017 07:57

Water at Drombeg. Corrib may be our best hope now?

[happyholder123] 09/9/2017 10:54

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!

[edgein] 08/9/2017 13:47

Dunderheed,

The first paragraph of my post was referring to a dry or shows only well. Second part was referring to if successful. Tis why I mentioned very long odds of +ve and also when the dust settles etc. Also not gonna be able to get many cheapuns if Drombeg is commercial as EOG would likely fly short term.

Regards,
Ed.

[jusmasel99] 08/9/2017 13:06

Lots of different results possible in a several thousand feet drill hoping to intersect a 44m column of hydrocarbons in a location well off centre of the closure which could be kilometres wide.

Complete duster has probably been ruled out now.
Non commercial hydrocarbons is the most likely taking into account NGMS pessimism in the hope that he will agree with me at last.
Pure Oil
Pure Gas
Gas/Oil contact
Oil/Water contact
Gas/Water contact

I remain open to the theory that neither Total or Cairn will want details of the well published and this could occur if TD has been reached and PA completed because Total have the option to take over operatorship which they probably are running anyway. It is extremely valuable information to them particularly when making deals with the likes of EOG. Why would you tell some one your hand when you are holding aces? That is why the deal was structured that way in my opinion.

So I think Total and Cairn will be at Hugh's door maybe already. I was thinking about the cost of our prospects to farm in to. We would want a carry on Shaw Beckett and Wilde and the rest still to be promoted. Add that all up and it is way past our Mcap.

[ngms27] 08/9/2017 12:59

Ed, still leaning towards a duster at Drombeg or maybe technical success rather than a major success.

[dunderheed] 08/9/2017 12:59

5642 yes and if dry?
I thought there was already loads of big company interest in the 'data-rooms'.
Oh and then we had a cash-call for more work required for these data rooms.
Let's hope we get a good return from it.

Oh it's ok we've got an IC tip behind us - everythings going to be fine now!

[edgein] 08/9/2017 12:44

JonnyT,

Clearly with a statement like that you're hoping the gas rumours are true then! Fingers crossed, I've still got very long odds on that one. I'm still watching here to potentially grab some more cheapuns on the Drombeg results as we'll have a clear run to H-1 once the dust settles. Wressle is neither here nor there in my book apart from keeping the lights on.

If PVR do manage to deliver something of significance then Hugh will be out whistling at BP, Statoil, Shell, Exxon etc. He'll able to reveal all from under this trench coat! No not his snazzy new suit, all the licences we have on offer and around 5bn boe prospective.

Regards,
Ed.

[ngms27] 08/9/2017 12:36

Jus, I've been following EOG for years and have traded it successfully several times in the past. That's going to continue.

[ngms27] 08/9/2017 12:33

If EOG can get permission to drill Holmwood this year the crowd will come.
If PVR have a hit with Drombeg the crowd will come. Hell if Drombeg works EOG will look vulnerable to a takeout on many multiples of the current SP, which would still be peanuts.

Drombeg could potentially get PVR trading towards 100p over time as the penny drops. However it's still likely to be a duster based on COS, it looks like yesterdays price action was shenanigans to me.

[edgein] 08/9/2017 12:33

Jus,

Absolutely agree, that's exactly what I'm counting on and my decision to take so many in the excess. Once we have the we're pleased to announce spudding of Holmwood-1 there'll be no excuses for the market to miss this one, we've almost twice the interest in H-1 to ANGS which are valued at almost £90m based almost entirely on a licence about 1/10th the size of Holmwood. We should really be second tho not third, third should really be a slug fest between ANGS and EDR (if I had to chose and those two were equal caps I think it would be EDR too).

Regards,
Ed.

[jusmasel99] 08/9/2017 12:24

Well spotted NGMS. Once this porcupine and holmwood business is over I'll miss you and will revert to being all alone///

Jus Ma Sel

Ed

I was wondering last night how on earth the Weald Worshippers will ever get to realise we are here and I think I have the answer .. DrillOrDrop .. they will be all over us for the drill and that is when I think the penny will drop which it will. Right now there are two NextBestThings We need to be the third.

[ngms27] 08/9/2017 12:07

Jusmasel99,

You are now behaving like a bat out of hell.

The first words of which are: The sirens are screaming

Just having a laugh, not accusing you of being wrong...

[edgein] 08/9/2017 11:59

Fardels,

They're all over at ANGS and UKOG it seems. Almost £90m and £300m respectively, amazing and EOG barely breaks £20m! We've bigger net acreage in the Weald than ANGS and significant potential in Porcupine and Slyne. There were something like 7 or 8 dry wells in the NS before the first large commercial discovery so Druid/Drombeg means very little in the grand scheme of things. Maybe someday the market will realise we're next in line to become another weald basin champion. :)

Regards,
Ed.