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

[jusmasel99] 23/10/2017 08:43

Rogerlin - there is something deeply troubling about this announcement from Angus. There has been no flow test and more talk about high pressure gas than oil. They appear to be making no effort to produce from the conventional so where exactly are they going to pump the water from Lidsey? It doesn't make sense to me but as you say if they start pumping massive amounts of oil then great stuff.

[rogerlin] 23/10/2017 08:11

The X4Z Well will inititially produce from a 200 meter ("m") naturally fractured section of a 385m thick, Kimmeridge interbedded shale and limestone layer.

If it flows at Brockham that will surely be good news for Holmwood.

[itsriskythat] 23/10/2017 07:22

The Surrey planning team have been proved to be wrong over their stance taken on the Brockham planning permission. Angus RNS today.

[jusmasel99] 21/10/2017 13:15

cont'd

Who are the key regulators for hydrocarbon extraction?

Environment Agency – protect water resources (including groundwater aquifers), ensure appropriate treatment and disposal of mining waste, emissions to air, and suitable treatment and manage any naturally occurring radioactive materials;

What hydrocarbon issues can mineral planning authorities leave to other regulatory regimes?

There exist a number of issues which are covered by other regulatory regimes and mineral planning authorities should assume that these regimes will operate effectively. Whilst these issues may be put before mineral planning authorities, they should not need to carry out their own assessment as THEY CAN RELY on the assessment of other regulatory bodies. However, before granting planning permission they will need to be satisfied that these issues can or will be adequately addressed by taking the advice from the relevant regulatory body

Operation of surface equipment on the well pad – whilst planning conditions may be imposed to prevent run-off of any liquid from the pad, and to control any impact on local amenity (such as noise), the actual operation of the site’s equipment should not be of concern to mineral planning authorities as these are controlled by the Environment Agency and the Health and Safety Executive;

Whilst storage on-site and the traffic impact of any movement of water is of clear interest to local authorities, it is the responsibility of the Environment Agency to ensure that the final treatment/disposal at suitable water treatment facilities is acceptable

[jusmasel99] 21/10/2017 13:10

Wressle - what the Government says, advice and regulations to planning authorities dealing with mineral extraction applications ...

Assessing environmental impacts from minerals extraction

How and when are the details of any significant environmental impacts best addressed?

Significant environmental impacts are best addressed through consideration of an Environmental Statement which will have to accompany nearly all planning applications for new mineral working. Statutory regulators must be consulted as part of the Environmental Impact Assessment process. This ENSURES that the mineral planning authority has SUFFICIENT information on all environmental matters at the time the planning decision is made.

What is the relationship between planning and other regulatory regimes?

... "Mineral planning authorities should assume that these non-planning regimes will operate effectively" ....

Should planning permission be refused if there are concerns about land contamination?

Local planning authorities should work with developers to find acceptable ways forward if there are concerns about land contamination

[jusmasel99] 21/10/2017 13:01

Talking about Wressle ... the appeal coming up soon .... there was only ONE reason given for refusal ... INSUFFICIENT INFORMATION ....

Quote from DrillorDrop

Cllr Grant (right) says the application is much better this time. But he says there’s NOT ENOUGH INFORMATION to be confident that this is the right thing to do.

He says there’s a VAST AMOUNT OF INFORMATION but this doesn’t help him.

“IT CLOUDS MY MIND. I will be proposing to refuse”.

Thanks Ruth - Great quote ...

[dunderheed] 21/10/2017 12:38

5934 they can still get permission then wait for 'learnings' if really appropriate (and necessary / value adding).

[itsriskythat] 21/10/2017 09:35

Re: Delays again It seems to me that Europa's solicitors are using pigeon post, not emails, in communication with the planning department.A comment made by Chairman Tim Hall at the end of the August meeting was "interesting question is .. will we be discussing this again at the next meeting in September?"So it could have been achievable.On current evidence it will be December before this is discussed again. However the deferral is only on two points this time. It is clear these two new points arose from the changes to the TMP made in response to the four points from August's deferral.Only amendments to the TMP which will arise from these latest two points can be discussed in December. But that's not to say that new points don't arise for another deferral, as the TMP is changed again.I take the point about non-determination, but that only gives rise to further delays if it goes to an appeal.I question whether a delay is not to Europa's benefit, provided Holmwood goes through in the end. Because at least the operational learnings from Brockham, Broadford Bridge and Horse Hill can all be applied at the Holmwood drill.

[jusmasel99] 21/10/2017 06:32

We won't see that until the agenda is published

[currypasty] 20/10/2017 16:07

do we have the official written document for the reasons for TMP being postponed to another meeting yet ?

[guesswhosback] 20/10/2017 12:18

Delivery is everything. He will know that people will be expecting and waiting and because of the failures its human nature to question the leaders.. Lets be honest since Paul left the share price has collapsed to 3p. We are up to 6p.

The elephant here is delivery. Each CEO knows he is targeted with results. We all accept drilling is a risk game but I try and reduce that risk by backing good management. That's is under scrutiny now.

[jusmasel99] 20/10/2017 09:50

DH - I am looking at that particular peer group because at some stage I want to attract their investors here with a much more attractive offer and potential.

CP - if Lenigas was here I wouldn't be. But yes perhaps it is time to increase the board size and invite someone on that could make inroads into M&A - how about Tom Cross?

I appreciate all that Paul and Erika did to found this company and get it going and I don't know the story behind his ousting but I do recall the share price moving up by about 50% when it was announced he was leaving. He and Erika are still big shareholders and it is a shame they aren't on the board but I believe that is their choice - I may be wrong.

I forget my surname sometimes as well ...

[dunderheed] 20/10/2017 09:22

CP - I agree he is probably slightly over paid G&G (lead) man for the delivery so far - but wtgr he is an SME and not a BD/CEO type?
Also to be clear though, when you look at time wasted plus amount 'earned', you do have to start asking if this is a lifestyle choice of sorts?
I thought Paul (forgotten his surname) was excellent actually. Yes he delivered some 'sillies' but he always had the conveyor belt running and was a good salesman.
The point being he delivered!! (Failed then moved on to next project).
All imho of course!!

[dunderheed] 20/10/2017 09:09

Yes bloody hell where is ngms?!
Jus - I've said before their G&A is not that great compared to peer group - you're just looking at wrong peer group!
Look at IOG/TRIN/SQZ G&A and the potential upside there rather than some of the lifestyle aimers.

[jusmasel99] 20/10/2017 08:56

CP - Wressle Planning Application - RECOMMENDED FOR APPROVAL BY PLANNING OFFICERS TWICE
Holmwood - appealed to the High Court successfully - TMP RECOMMENDED FOR APPROVAL BY PLANNING OFFICERS TWICE
Corrib LIcences won
More Porcupine Licences won
Hardstoft
Farm OUts to UJO, ANGS and UPL
Cloughton and Maxwell

What ever happened to NGMS? Maybe we need some negative waves to get the pot boiling again

[jusmasel99] 20/10/2017 08:51

Well DH interesting you should say that because one of the things I will highlight again is our low overheads/admin costs compared to our compadres in the Weald. Let's not forget that our team all took pay cust when the OP was low for our benefit and they were rewarded for doing so with options at 10p! very very admirable in my opinion.

They aren't going to be impressive in terms of profits no but they will highlight our existing production and the effect a positive result on Wressle will have. The market also likes huge year on year boost in performance whether you are making a profit or not and that is a given.

I do think there may be news on a farm out in Ireland but I don't expect that until the Corrib takeover has been approved by the Irish Government...

Rogerlin - quite correct - rationale is completely out the window - and if the frenzy arrives I will feed them with my shares and hope that Hugh can hive off the Irish assets into a separate company I can invest the proceeds in.

[currypasty] 20/10/2017 08:46

holmwood deferal 1, wressle fail 1, wressle fail 2, pvr duster, holmwood dereral 2

I hope Hugh has some good news in the results, or the LSE board will be baying for blood

[rogerlin] 20/10/2017 08:39

It is good that EOG are carried at Holmwood but the consortium as a whole is weak on the cash front, I wonder how much UKOG have left in the kitty? A decent flow test at BB would be good for all concerned.

[dunderheed] 20/10/2017 08:33

Jus dont count your chickens re profitability and cash.
When we finally see how much our 'value adding' mgt cost and the impact on cash plus profits, let's 'talk' then!
I hope I'm wrong but I am certainly not expecting anything impressive.
I'm hoping there is news of another farm down as well - but I think very unlikely.
All imho of course!

[rogerlin] 20/10/2017 08:32

"The Holmwood prospect has been assigned gross mean prospective resources of 5.6 million boe with a range of 1 to 11 million barrels. Were it to come in at 5.6 million boe, Holmwood would become the fifth largest onshore oil field in the UK".

In the case of success, 20% of what you think this is worth.

As I understand it this is only based on the traditional Portland reservoir, anything from the Kimmeridge would be a bonus. But I think that no-one has so far produced anything from the Kimmeridge limestone. So a good sustained flow test from the Kimmeridge at any of Brockham, Broadford Bridge, Horse Hill or Balcombe would be a plus for prospects at Holmwood.

But all rational considerations go out of the window if we can only get a feeding frenzy like at UKOG!

[jusmasel99] 20/10/2017 08:28

GWB - just the Kimmeridge. When I found out about Balcombe AFTER I heard of HH it cast a lot of doubt in my mind about the claims that were being made because Cuadrilla actually dropped their planning permission request for the well test after they had drilled it. Really intriguing to see them back.

Fullbright: I think logic tells us that the spike prior to November's meeting will now be less than 7p. However before that we will have correspondents at the Wressle Appeal and although judgement won't be known for a few weeks after my guess is that that will raise the share price if it looks good in court. With full planning permission and confirmation that the drill will go ahead in January I would expect a significant rise up to Spud Date - certainly greater than 10p - however there are some risk factors outside our control and that is down to ANGS and UKOG raising enough funds to pay for their share of the well. Neither seem to have enough cash at the moment.

Also very shortly we will have our results out - should be very encouraging in terms of our profitability and cash reserves - mindful of the fact that we are fully covered for all costs of the Holmwood drill.

[fullbright] 20/10/2017 07:56

What do folks think the value of impending / full planning permission gives to the share price .... 2p, 3p, more ?!?

[guesswhosback] 20/10/2017 07:54

I'm sorry. How's does Balcombe affect us? Is it just the Kimmeridge. If you think I'm daft, you should spend a day with currypasty.

[jusmasel99] 20/10/2017 07:33

I think somewhere along the line in one of his many interviews about his gas Lenigas mentioned oil flow at Balcombe or maybe somewhere else. The conundrum for Lenigas is that Balcombe was drilled before HH yet he takes the credit for discovering the Kimmeridge. If that is the case why did Cuadrilla - a fracking company but with oil interests as well - decide sometime before HH was drilled to go horizontal into the limestone? Remembering of course that HH was looking for gas not oil and they didn't find gas. I suspect that Doriemus is about to get involved at Balcombe - hence the nature of the Proactive interview earlier this week.