Share Name Share Symbol Market Type Share ISIN Share Description
Europa Oil & Gas LSE:EOG London Ordinary Share GB00B03CJS30 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.125p -2.22% 5.50p 5.25p 5.75p 5.625p 5.00p 5.625p 278,930.00 16:22:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.3 -1.9 -0.7 - 13.47

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Date Time Title Posts
23/3/201717:10Europa Oil and Gas4,447.00
03/1/201720:09Europa Oil & Gas - Moderated5,153.00
12/7/201621:06 Europa Oil & Gas (LON:EOG) exploration and production company focused on Europe1.00
21/7/201514:52Europa oil&gas Hugh Mackay speaking live at 6pm....-
20/6/201311:50EOG Charts4.00

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2017-03-23 17:08:385.5025,0001,375.00O
2017-03-23 17:08:035.5025,0001,375.00O
2017-03-23 16:22:025.4050,0002,700.00O
2017-03-23 16:18:185.5050,0002,750.00O
2017-03-23 14:49:545.387,805419.52O
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Europa Oil & Gas Daily Update: Europa Oil & Gas is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker EOG. The last closing price for Europa Oil & Gas was 5.63p.
Europa Oil & Gas has a 4 week average price of 5.25p and a 12 week average price of 5.15p.
The 1 year high share price is 6.88p while the 1 year low share price is currently 3.38p.
There are currently 244,888,011 shares in issue and the average daily traded volume is 193,983 shares. The market capitalisation of Europa Oil & Gas is £13,468,840.61.
jpodtrading: I've just been having a nose around at our Irish licenses, in particular 2/13 & 3/13. It seems that phase one of those licenses expires at the end of July 2017. HTTP:// According to the Irish licensing authority we're obliged to submit a work programme for those no later than the end of April 2017. "(2) Exploration obligations (a) During the first phase of a licence, the licensee shall undertake, in respect of the area covered by the Licence, a work programme which shall be agreed with the Minister before the issue of the licence. (b) At least three months before the end of the first phase of a licence, a work programme for the second phase of the licence shall be proposed by the licensee for the approval of the Minister. That work programme shall include the drilling of an exploration well." HTTP:// Hopefully we have someone ready to farm in soon so they can agree the work programme we've hopefully already put together. Otherwise it's all going to go a bit to the wall. Any ideas if we can extend phase one again? Otherwise we may be a bit over a barrel on these :/ Apologies for being a worrier!
edgein: Jus, I don't think we'll need a horizontal well to get a good idea of what's down there, there should be about 150-200m vertical thickness of limestone and shale mix if Brockham and HH are anything to go by. HH flow rates were from a vertical, the brockham sidetrack has yet to be tested. I think we'll have a good idea what's down there when we get the logs from Holmwood. If its anywhere even close to Brockham and HH it'll do wonders for the share price. Regards, Ed.
currypasty: 1.25m accounted for broker/nomad should have found a home for these,,imo, not dropped on market
jpodtrading: CWAL purchasing so many shares, as someone quite rightly said, it's very difficult to offload that amount in the open market without destroying the share price. I believe he'll be in for the long term, as he has been so far. Assuming that, I doubt he'll be concerned with short term share fluctuations. I think he believes he's topped up at at a very reasonable price, as I do. I also would have expected the share price to race back closer towards 6p after his huge share purchases, hopefully that will happen in the coming weeks. I believe we'll be on the rise on the back of his share purchases and the upcoming news. Unfortunately I'm a pessimist at heart and always look for the bad things! :/ In an interview I believe Hugh said there wouldn't be any placings as Wressle would keep the company ticking over once production started. It's one of the reasons I was so confident to pick up more shares. At that point I think he estimated Wressle to be producing any time now. So for me this casts a bit of doubt on their cash in the short term. By the way I really enjoy reading your thoughts on EOG Jusmasel99 :)
tadtech: Spoke with Hugh Mackay at the O2 investor event last Thursday. Very pleased I did, he pointed to the fact that the devaluation of the £ makes Europa close to operationally break even with current production levels in excess of 100 boepd. He said this had been reflected in the major companies share prices but as of yet has not filtered through to the smaller companies. He said EOG are operationally break even around $58 a barrel right now, they have also cut costs. He was very confident that both Wressle and Holmwood would be drilled on-time and once Wressle came into production break even for Europa would only be $38 a barrel. Regarding Ireland, somewhat coy, said that the 3D seismic had cost Cosmos $8m and would expect a proportion of that back if a JV concludes. Confirmed that the data room had been very busy with majors and mid caps, given the interest shown he has not ruled out the ability to set a timeline for interested parties to bid, not quite on a put up or shut up basis but something close I concluded from his comments. He re-iterated it had never been cheaper to drill a deep well and given the likes of Woodside, BP, Shell etc are in the area he would not rule out a 1st exploration well late next year. I concluded that a JV could come at anytime, that means next week or in 12 months time, I felt he wanted to do a deal and may pressure entities by various routes. He seemed to think the overhang had been cleared, suggested he had no idea who was selling until M&G came clean, it started around mid April he implied and he thinks lumps of stock may have been placed off market. It was 8% of the equity so given the size the share price has held up well. In all a worthwhile chat and I am confident the shares will come back up, especially with so much news due. DYOR and no advice intended
tadtech: I would strongly urge readers to ignore the above poster, the unvalidated entity was calling for 2p a few months ago and the share price moved to 6.5p bid recently. With oil rising the share price will start to attract buyers as EOG are producers, in the meantime we can look forward to more License news concerning Ireland. Lots of talk from Lenigas that majors could be getting involved with Horse Hill where Europa have a 40% interested via Holmwood. Remember the company themselves have stated that there is more than a 50% chance the share price will exceed 20p
tadtech: Is Europa the next Pantheon Resources in the making??? A number of folks close to the junior O&G space have been acquiring shares of Europa over recent weeks I hear - Looking for a major share price move ! Key points from the recent Malcy interview.......... Ireland (massive blue sky potential) Starting Farm Out process now - Opening Data Room 11th January Data room full in January and nearly full in February EOG very positive on securing JV partner $15m of 3d seismic completed CPR of gross mean prospective resources 1.5 billion barrels - 100% interest worth $7 billion If well was a success EOG would become next Cove Energy Even at $50 oil massive exploration spend continues by majors Europa applying for more licences Best licencing round ever in Ireland just closed - Significant interest from majors inc Exxon etc 80% of applications are near EOG, in Porcupine Basin News of awards start mid February 2016 100% interest unrisked worth $7 billion to EOG - 640 TIMES PRESENT MARKET CAP - On a risked basis worth $1.1 billion - 100 TIMES PRESENT MARKET CAP UK production (pays the bills) Wrestle expected to produce 500 bopd Wrestle will more than DOUBLE Europa's production and make the company PROFITABLE Production from Wrestle 2nd half 2016 Current production 120 bopd - production cost $33 barrel Finance £2m cash Production revenues Potential of significant back cost recovery from Ireland if JV concluded NO PLACING - GOOD CASH POSITION 50% chance of the share price exceeding 20p per share !! (see slide on web-cast)
dalesman: I believe that was explained on Countryfile :0) or was it here! From three pages back! The main problem stemmed from the over optimistic projections made by the BOD with regards to West Firsby production. This was exacerbated by one particular poster who spammed the board with what appeared to be very optimistic projections of his own increasing the expectation from 450-500bopd up to a possible 800, many were burned. This kind of inflated production was never on the cards but anyone who tried to inject a bit of caution was effectively shouted down. The share price was then at 42p. Subsequent delays and eventual revelation of production at 250bopd disappointed many PIs and this combined with the concerted attack on commodity Aim stocks, Greece and unsettled markets have led us to this ludicrous position and a 66% decline from the highs. Unfortunately the company is now tarred with the over promise under deliver brush. Confidence in the management has to be rebuilt and this can take time - look at LGO. All of which ignores the fundamentals which are stunning and given the unexpected opportunity that the share price has now afforded a value seeker like yourself Rhu, a quick review of what EOG still has needs to be undertaken. Looking back at the Finncap report little has changed. We have had a placing at 13p - unfortunate but necessary and I was very pleased to see the BOD taking part in this fund raising, it does show commitment! We now have to take off any rosy glasses and review the pros and cons relating to this company. Lets look at the current years activity. Firsty we hear that: Since the operational and weather related issues reported in early March, group production has increased some 100% to a current average of 260bopd. Gross revenues are currently running at $750,000 per month. 500bopd would have been better but the UK assets are still throwing off cash. How many microcap E&Ps with a current market cap of £15.4m have production and are debt free? The UK production looks as if it will be increased by Crosby Warren: There is significant potential for additional production from Crosby Warren by repeating the highly successful 1987 stimulation of Crosby Warren-1. This is would increase planned for August and is anticipated to provide incremental production of between 50 and 150bopd. Given the past poor performance in predicting increases in production (I do think they have learn't from past mistakes!) lets take the lowest prediction. An extra 50bopd would increase the monthly revenues to just short of $900,000 or around $10.7m for the year - compare this figure with the current market cap and the share price is a nonsense! I'll leave you to work out what the revenue would be if CrosbyWarren increases production by 150bopd. The planned appraisals The Romanian appraisal well Voitinel-2, anticipated to be spudded in September, is to be a relatively conservative appraisal stepout to prove up to 35bcf of gas-in-place which would allow for the initiation of a pilot production project for the northern part of Voitinel. The extended field has a much higher GIP fig but working from the above figure of 35BCF this translates to 5.83mboe. Gas prices in Rumania are fairly high at around $8/mfsc. I think we can expect at least $40/boe for the gas which given EOGs entitlement is 1.68mboe is a substantial asset to have on the books. Using a NPV 15 calculation I still get 5p risked at 50% The NPV figure comes out at around $10boe so the calculation is realistic and conservative given that gas is currently on sale for $8 /mmfc. As this is the first appraisal on Voitinel I don't think I can go any higher than a 50% risking. There is absolutely nothing in the share price for Voitinel - The UK assets fully cover the current SP A second appraisal-exploration well, likely to be on the Solca Prospect, situated between the Voitinel and Paltinu gas discoveries and designed to test the upside in the Voitinel trend play, is expected to be drilled in early 2012. Then we come to Berenx On Europa's flagship appraisal project, Berenx, work has been underway for several weeks on the engineering design for a Berenx-3 appraisal well in late 2012/early 2013. In the meantime, the highly encouraging results from the recent CGGV processing of the Lacq Ouest 3D volume has given sufficient encouragement to acquire additional 3D data over the western part of the Berenx structure. It is anticipated this survey will be acquired in Q4 2011 with a view to maturing contingent resource numbers and choosing a firm well location by Q2 2012. I was disappointed to see this pushed back but the seismic is positive and the acquisition of the 3D data must de-risk the project. The upside is huge but I suspect that the extended timescale has mean't that many have moved their money elsewhere. GRH is fond of saying you make your money when you buy! The EOG share price is a case in point for those with patience! The upside case is in the £2-£4.50 range - it's worth the wait given these prices Exploration I was interested to note that EOG have moved Barchiz into the exploration rather than the appraisal section of the recent Operations RNS. The risks have certainly increased as EOG goes it alone although a farmin partner is being sought. In Romania, the Company has lodged the required documentation with the government agency to appraise the Barchiz-1 oil discovery well by deepening it to up to 2,500m in order to penetrate the anticipated repeat section of the Oligocene Sandstone reservoir encountered in nearby wells. The Barchiz Prospect therefore remains only partially tested due to the premature cessation of drilling operations at 1,450m following technical problems. It is hoped that approval will be given shortly and that the well can be deepened in October. I am using a notional 30m OIP from the last presentation. At 100% entitlement and a COS factor set at 30% this gives a current risked evaluation of 27p for this project - unrisked £0.89 (This after a NPV15 calculation has been applied) . A real company maker! A farmin will of course reduce these figures but again none of this upside is in the current share price - its all in for free! So on reflection there is IMHO considerable upside at these sale prices! Does that help Rhu.... JohnCraven? As always DYOR and no advice given! Kind regards Dalesman
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