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

[edgein] 06/7/2017 14:04

Roger,

Not so sure, volume has been low here since UKOG hit again, so there seems to be a complete disconnect by the market and the KL play. The wider market doesn't seem to realise we're well up there in terms of KL play acreage. Should have really added a few pence per share as a result. UJO was even flying up and its main assets are wressle potentially and Holmwood, those ring a bell for some reason. :) The open offer and excess are likely to be tightly held by current holders knowing that Holmwood and Irish AM is active. Very curious share price reaction, its one of those shares that will take off out of the blue like it did recently shooting up to 8p+ on little substance other than being undervalued.

Regards,
Ed.

[dunderheed] 06/7/2017 13:27

5099 considering the fanfare and massive interest in data rooms the farm in that Cairn and Total have done I'd say the mgt pence has been a bit of a damp squib imho. We as smally investors can shout all we like but at the end of the day the bigger broader not does nit appear to agree and that includes the technical experts who have viewed the dr's ?

[jusmasel99] 06/7/2017 13:12

If you could give examples of promises not kept without extenuating circumstances such as idiotic planning committees then I might concur but I can't recall any.


Undervalued? Absolutely
Current Investors Maxed out (including me)? Probably
How to increase the SP? Attract new investors.
How to attract new investors? Positive comments on BBs help but above all great Market News inviting research into our prospects because it is our prospects that are undervalued here. If and when they come to fruition then everybody will be congratulating you and us on our investment savvy.

60 days max to PVR results ... Boom .... but not bust ... we have plenty of other irons in the fire

[dunderheed] 06/7/2017 12:23

5095 as I keep on saying imho, this company does not keep its timelines or inferred promises etc. Until that is corrected the status quo will remain. Btw am a holder of modest amount of shares and do believe it is currently undervalued.

[currypasty] 06/7/2017 12:08

and ukog had a placing at 0.8p..

[rogerlin] 06/7/2017 12:05

Recent placing and open offer perhaps has something to do with it.

[currypasty] 06/7/2017 10:46

we have got a lot of catching up to do... looking back 6 months, we are at the same price, how can that be right?

[jusmasel99] 06/7/2017 09:38

I don't believe so because of the problems with the overhanging trees in the lane and the 'leaf bend'. The person who told me that could of course be wrong. If so that is the only reason other than the planning conditions approval that we are waiting on.

Rogerlin ... my ANGST with ANGS is that they are little economical with the facts and having clearly upset the local councillors their reliance on past planning approval requires some examination. I'll leave it for interested parties to do their own research but as far as I can see they need to APPLY for permission to increase the infrastructure to cope with additional production. This is nothing to do with their present application for retrospective planning, drilling or production. In fact this particular point nobody seems to have mentioned at all and most importantly it would definitely be a local decision that could not be 'called in'.

By the way did UKOG ever release depletion rates for their EWT at HH and did ANGS ever release any production figures for Brockham (did they even test that?)

[currypasty] 06/7/2017 08:29

Jus, is it possible to bring Holmwood forward ?

[rogerlin] 06/7/2017 08:27

Indeed the graphs of UKOG and ANGS are fine sights, EOG's time will surely come. On the ANGS video the point is made that they already have a production licence, although final permission from the OGA is still awaited. That is a good point given the delays at Wressle.

[edgein] 05/7/2017 09:11

Roger,

They'll know that from the long term production test from HH and Brockham. Brockham-X4 is gonna need to give very good flow rates to increase that current cap at ANGS given that its the smallest KL licence and in comparison EOG holds almost twice the Holmwood licence to ANGS. So in comparison will EOG achieve a £50m cap on a proven up (KL, free live oil etc) untested Holmwood later this year? It'll be interesting to see. That's if Druid and Drombeg don't beat us to it before that. Market is still very different to the times when speculative Falklands and Namibian companies would hit £300m on the hint of drilling a well. But given the volume of our neighbours onshore UK still feels somewhat overlooked at present, but for how long?

Regards,
Ed.

[rogerlin] 05/7/2017 09:01

Thanks for link Curry. It seems that ANGS hope to start producing soon at Brockham. It sounds as if the oil is likely to flow without fracking but will it continue to do so? If I understand it correctly the implication is that when oil is flowed from the Kimmeridge limestone, oil under pressure from the shales will replenish it. Will that actually happen?

[currypasty] 05/7/2017 08:55

We need to jump on the UKOG, and ANGS bandwagon, and get our story out there.

[edgein] 05/7/2017 08:53

UKOG some £130m ish now, ANGS a whopping £52m, poor little EOG just £18m (and we've got 5bn boe prospective, not just the upcoming Holmwood). I wonder which of these is most likely to double from the current. :)

Regards,
Ed.

[currypasty] 05/7/2017 08:09

Interesting background, Paul Vonk, Managing Director of Angus Energy #ANGS goes over current progress and talks about UK Oil & Gas's recent successful exploration results at a neighbouring location to their Brockham asset.

starts at 1 1/2 min

[edgein] 04/7/2017 14:48

Jus,

We've a bigger exposure to KL than ANGS, EOG should really have put on 1-2p as a result of BB-1 as Holmwood is next in line to be drilled. Wressle is OK, its small but better than the other UK production in terms of size, but never material. I certainly wouldn't have bought for Wressle alone. But to take almost 20% off the share price for an asset that wasn't in production and is no further on that it was earlier in the year was a bit rich. An extra 100bopd would be useful sure, but with the recent placing and open offer it'll not make much of an impact here between now and November (hopefully someone will then see sense and allow development then). I can see that happening sure and especially if Druid is a goer, there should be plenty of new folks looking at the neighbours, Shaw being analogue to Drombeg. :)

Regards,
Ed.

[jusmasel99] 04/7/2017 14:14

Market has responded Ed. Wressle was important to us a couple of years ago wasn't it. Now a mere sideshow as the important plays come to fruition. What we need now is for the news from Druid to be on a 10p or above share price .. As the results come closer there are bound to be new EOG investors out there willing to take a punt

[guesswhosback] 04/7/2017 14:14

Your posts are excellent Edgein. Much appreciated.

[edgein] 04/7/2017 14:07

Jus,

Won't aggravate me even a little bit, I hold PVR now too, so if Druid is a goer it'll be all guns blazing! I hope the market sees the significance of Druid here too as so far they're failed to see the connection between Holmwood and BB-1 for EOG. We're remarkably priced pretty similarly to before BB-1 was drilled and there is significant read across since their CEO suggests limestone stretches from HH to BB. Holmwood lying between the two!

Regards,
Ed.

[jusmasel99] 04/7/2017 13:56

I don't necessarily want to aggravate Mr Edgein more than I have to but in 60 days time I expect Holmwood to be fairly trivial as far as EOG goes. Sure it could add 10p to the share price but that will be less than 10% markup .... ;-)

I am off to speak to Rodney about next year ......

[edgein] 04/7/2017 13:54

Mr Pasty,

Well UKOG is the king of the Kimmeridge with 3 licences of about 500km sq. 1 of those being 100%, the other two 30%. They believe that they'll get around 1mmbbls of recoverable per well and 10 wells per 3 acre site. If they're really impressive they may have a drainage area of 1 sq km, but likely much less as its a carbonate reservoir. There could be several hundred million bbls of recoverable oil under the Holmwood licence if we get substantial KL there too. Its likely more like Brockham than BB-1, i.e. separate formations rather than one large continuous limestone. In terms of exposure, and taking in our AM upside, I'd rank EOG as no.2 (you'd hardly think it with the lack of action here), EDR no.3 and ANGS no.4 and probably UJO as best of the little guys.

Compared to UKOG we should be at least double our market cap quite easily. As I've said a company with 5bn boe expo prospective should have at least £30m cap. Holmwood if/when successful later this year is likely to add more than £30m to our cap. If Druid comes in similar story. I think its quite reasonable that EOG will be at least 100% higher by end of 17 perhaps much much higher, but then I'm a KL covert at present. Holmwood is the reason I went for the excess facility.

Regards,
Ed.

[fardels bear] 04/7/2017 13:30

Ah well, that's the one I'm waiting for, Curry....

[currypasty] 04/7/2017 13:05

edgein, how do we stack up with holmwood v ukog, if we get a well result like theirs?

UKOG mcap now £130 million, ours less than 20

[edgein] 04/7/2017 12:52

Mr Pasty,

Yes huge Hugh has some mighty big sleeves, he's like an O&G wizard, around 5000sq kms of Irish AM up one sleeve and potentially 50-100mmbbls of Kimmeridge up the other!

Regards,
Ed.

[currypasty] 04/7/2017 12:35

up 10%, has Huge got something big up his sleeve?