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

[jusmasel99] 17/10/2017 15:40

Let's just remind ourselves what a no brainer this is. Holmwood HAS planning permission. It WILL be drilled regardless of what happens tomorrow. Today is just a mere indication of what WILL happen when the conditions are approved. If not tomorrow then even more likely at the next meeting.

Now there are some folk on here that tread warily when it comes to planning and I don't blame them given our spikey past. Bad news tomorrow will see a reaction and the share price will drop but that is just going to be another golden opportunity to buy more before the inevitable permission is granted and the drill bit starts turning.

I may not be able hold an intelligent discussion with a geologist on the possibilities lying underground Leith Hill but as an investor I sure can foresee the future for this share price

So tomorrow is a no lose situation. Good news and the planning averse investors will jump in, bad news and the weak will depart and the strong will pick up a bargain.....

[edgein] 17/10/2017 15:06

GWB,

Well I'll be stunned if its not a Brockham lookalike on results. Clearly the KL is regional and substantial and is highly likely to stretch from Brockham to BB-1, it seems to get even more substantial down south when you read the comments from UKOG. Its perhaps likely that these thinner sections in our region of the basin will give better flow rates than BB-1 if HH-1 is anything to go by. I'm doing similar to UKOG management that classed BB-1 as a step out well, I'm classing the Holmwood KL as a step out to Brockham. I've a lump of these already so not going further in, but I'll be stunned if we don't have similar results to that Brockham well. The exploration side of this well will be the conventional sandstones that could be hit or miss even if this anticline lies above Kimmeridge source. I want to see live oil shows with pressure in the KL's at Holmwood as that turns a potential 10mmbbls conventional discovery into more like 100mmbbls+ regional stratigraphic discovery. Although both would be a welcome bonus.

Regards,
Ed.

[guesswhosback] 17/10/2017 14:49

Ed what's you feeling about the forthcoming Holmwood drill? It sounds positive given yesterday's RNS from UKOG?

[edgein] 17/10/2017 14:28

The only thing that stopped us smashing 10p last time around was Druid/Drombeg, no risk like that this time. Its where the focus should rightly be on the upcoming Holmwood well. Jus they're all Jurassic so easy range to drill both the sandstones and limestones.

Regards,
Ed.

[guesswhosback] 17/10/2017 14:17

JUS - Apologies, my mistake. Yes, ANGS have a smaller acreage than EOG. My excitement got the better of me. Buyers turning up now.

[oilforex] 17/10/2017 13:54

Certainly looking lively today. Let's hope no more money is wasted by further delays.

[jusmasel99] 17/10/2017 13:15

GWB - we don't have bigger acreage than UKOG we have more than ANGS though and fault blocks aside should they start extracting from the Kimmeridge in Brockham questions would have to be asked about the extent of the field they are extracting from - our PEDL143 surrounds Brockham....

[guesswhosback] 17/10/2017 13:12

4x would put our MCap at £80m. Half that of UKOG, with bigger acreage, experience and Wressel to come online. I expect higher.

[jusmasel99] 17/10/2017 12:45

Pretty much a no brainer buying in at sub 8p because even if we dont get approval tomorrow we will back at the next committee meeting in November with an even greater likelihood of approval. Approval is lift off with spud in 8 to 10 weeks. And although there is no such thing as a certainty in oil exploration our drill bit WILL be passing through the Kimmeridge on the way to our conventional target. With ANGS and UKOG already multibagged as a result of their Kimmeridge exploits it is unlikely that they will do so again at Holmwood but EOG???? Easy 4 bagger surely...

[guesswhosback] 17/10/2017 12:17

Looks as if we are ready for lift off....

[dunderheed] 17/10/2017 12:11

Ah right ok decision tomorrow then. I hope jus will keep us informed!

[currypasty] 17/10/2017 11:51

prior to the last 2 planning meetings, we had moved up past 8p.. amazed we haven't this time as its more likely this application will be passed,,imo

[jusmasel99] 17/10/2017 11:44

If the planning committee gives us the nod tomorrow the RNS will start coming thick and fast. The drill has to be completed within an 18 week window and from what I hear all is ready to go. As far as letting other know about this I think I'll jus keep it to masel for the noo.

But on the other hand anybody looking in to find out what all the commotion is about EOG is expecting final consent to the planning conditions tomorrow for its Holmwood drill slap bang in between Brockham and Horse Hill. With a couple of conventional targets to boot - 5m barrels in them alone.

Holmwood actually is a small area in PEDL143 which is 91km2 while Brockham Oil Field is in the other 9km2 of the original licence area. Work out the percentages and you will see that EOG actually owns more Kimmeridge area than ANGS which defies belief given the difference in Mcaps.

We are basically just totally undervalued on the Kimmeridge alone. Never mind our astonishing other assets in Ireland and the rest of the UK.

On top of that at the current OP we are making a small overall profit from our existing production

[dunderheed] 17/10/2017 11:16

Jus ffs, can you keep us updated on what's happening please?
Then get out there and sell this to the other weald play cash rich punters?!

[currypasty] 17/10/2017 10:48

I think word will get out soon

[guesswhosback] 17/10/2017 10:14

I noted the following:

The near identical Kimmeridge reservoir parameters and geology seen at BB-1z and the Horse Hill-1 ("HH-1") Kimmeridge oil discovery, in which the Company holds a 32.435% interest, some 27 km to the northeast, demonstrates that the Kimmeridge oil accumulation is also laterally extensive across the Central Weald Basin.

UKOG, as the largest licence holder in the Kimmeridge oil accumulation's prospective area is well positioned to exploit this extensive oil resource.

The Company will now press on immediately with the revised rig-less test plan to establish whether the extensive connected natural fracturing seen in BB-1 and BB-1z can flow oil in commercial rates and volumes.

[jusmasel99] 17/10/2017 09:25

Not only been answered in full but have the planning officer#s recommendation for approval. Not that that has stopped them in the past. It all looks good on paper but there comes a time when they have to stop asking questions and approve or suggest what will meet with approval. We know it is an absurd situation but remember it is only 4 weeks to the next planning committee meeting if things don't go our way,

In between we will have Wressle appeal.

[cheek212] 17/10/2017 08:57

This application was deferred at the last attempt to answer these few questions raised by the committee. In my opinion they have all been answered in full so I can't see any reason why they cannot approve. The only question I do have is are they now allowed to raise further new questions that have nothing to do with the four issues raised at the last hearing? I would like to think not but don't have much experience in this area - anybody aware?

[currypasty] 17/10/2017 08:56

we are at £17m mcap, while ukog are over £200m. EOG 10 bagger and still cheap compared

[jusmasel99] 17/10/2017 08:54

and only 4 weeks to the next SCC planning committee if it doesn't pass tomorrow. That still leaves enough time to get it done (just) .. this Winter

All that is missing from EOG at the moment is a turning drill bit ... once that happens up up and away ,,,

[currypasty] 17/10/2017 08:47

and just 3 weeks till wressle!

[currypasty] 17/10/2017 08:41

good summary Jus, lets hope common sense will prevail

[jusmasel99] 17/10/2017 08:37

Holmwood Planning
The meeting starts tomorrow at 10.30am and we are first up so I would presume we will know before lunchtime as it is being webcast. No point holding breath for this one because of the history of O&G planning applications before County Councils. However we have provided in depth responses to the 4 questions that were asked of us at the last planning meeting and once again the planning officer is recommending approval. Even Leith Hill Action Group have welcomed one of our proposals. The lHAG aren#t making many friends at the moment and have had to issue an abject apology to Mole Valley council.

If it goes our way though things will really start to move with only an 18 week window to get the job done. The results from BB are very positive for us and as CCF has mentioned the likelihood is that the Kimmeridge at Holmwood will be more heavily fractured that at Horse Hill. What's more the mess that UKOG have made of BB will add to the experience we need to complete the well successfully. At least we shouldn't be taking any cores which caused the first set of difficulties at BB.

There is a very notable and cautionary lack of investment here before the planning committee makes their decision. All going well tomorrow then this share has to fly as we fully join the Kimmeridge party with a drill bit ready to turn and more Kimmeridge potential acreage than the highly rated ANGS. Not only that we are fully covered for our drill costs and as operator that brings a small but useful additional source of income.

Let's wait and see what tomorrow brings. Bad news however is merely a delay. All the good news above WILL come our way eventually as we have planning permission with just the conditions to be accepted.

[rogerlin] 16/10/2017 16:03

More positive news from UKOG.

[timw3] 15/10/2017 15:10

O/T EME newsflow starts again very soon on their recent discovery and could be pumping gas in to the paying system by the 1st of November.

30p highs to be tested soon imo