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

[greatfull dead] 26/10/2017 19:20

Jus,

When is the AGM scheduled for this year? If I can I want to attend.

ATB,
GD

[jusmasel99] 26/10/2017 17:39

Thanks for your comments Guys - keeps me going. AGM is usually in Baker St where I used to work. Glad to be gone - hated the place. The Tea and Coffee are free and last year there were only one or two shareholders present and we had plenty of time to chat with the team before and after. Didn't last long - would have been shorter if I had kept my mouth shut. Would like to go again this year and meet up and put some faces to nom de plumes.

NGMS last spotted on the PVR board mid September .. Hope he is oK

[greatfull dead] 26/10/2017 17:05

JS,

Very good idea. There is a possibility of telling them the EOG story and what EOG has going asset wise. Some of the locals would digest the info and buy into EOG prior to the SCC planning committees next meeting to consider drill on Holmwood!!!!

Enjoy your evening all,
GD

[joestalin] 26/10/2017 14:01

It might e a good idea to visit Holmwood and chat to some of the locals. This looks like a good one to start with.

hxxp://www.royaloakdorking.com/

[dunderheed] 26/10/2017 13:07

Where the hell is ngms for god's sake?
Does anyone (really) know? (Not free bb 'fact' know!).

[guesswhosback] 26/10/2017 11:02

Jus - you are taking this too personally. No one is having a go at you. Unfortunatly we assume you have the ear of Hugh. Im sure he can read our posts in his busy schedule.

Perhaps I will spend some more money going to the AGM which will no doubt be somewhere expensive. Might be easier to meet at Holmwood. I hear its quiet there.

[dunderheed] 26/10/2017 11:00

Oh yes excuse my manners - sorry to hear that as well Jus - you seem a really nice guy.
Ironically I was going to ask you when I semi retire about the old newsagent business - as to me it seemed like a nice lifestyle type business - if on a seafront somewhere - but obviously not.
I suppose on teh seafront you can sell hot dogs and ice cream etc which would (hopefully) offset any of teh more traditional sales etc.?

[itsriskythat] 26/10/2017 10:47

Sorry to read that, Jus. Perhaps the results will bring something more cheerful.

[dunderheed] 26/10/2017 10:21

Reserved for Pram.

[greatfull dead] 26/10/2017 10:14

Holmwood outcome is to me EOG current priority.

GLA,
GD

[jusmasel99] 26/10/2017 10:13

Well DH you have answered one question that I didn't consider and the answer is NO I would not like to work for you! I was just making up the wages for my staff - 13 of them part time. I have told my two senior staff members that because of their contribution I will keep their present hours safe till the end of this financial year even though their wages exceed my budget for the work that they do - I will take the loss on that. I have told the remainder - and they could see this for themselves anyway - that I need to drop two of them as I am making a big loss on their work. However I have told them that their jobs are safe until past Xmas because they stand to pick up a considerable bonus from customer tips during the festive season. I am left though with the unenviable task of selecting which ones to make redundant and on what grounds. I will make a short term loss and hopefully recover that with increased profit after they have left. My industry is in decline - there is no way I can grow sales to a point where I could re-employ any of them so the decision has to be made and it is one that I am currently very sad and depressed about. Worrying about how much Hugh and his team get paid is not top of my agenda right now...

Oh and there is one other factor which is probably of no concern to anybody reading this but it is a major factor to me ... the two I have to say goodbye to are paperboys ... do you have any idea of what that is going to be like? Telling a young lad that does his work so proudly and efficiently that I can't afford to pay his measly wages? A young lad who has willpower to get up so early and the desire to earn money at such an early age.. What a rotten Xmas this is going to be .. as I asked ... where is NGMS when you need him to cheer us all up ???

[currypasty] 26/10/2017 10:06

HP, if you think the rise, fall, and partial recovery of brent crude (even though we only produce a dribble) has a part to play in EOG 5 year share price action, how about this...

[hpotter] 26/10/2017 10:00

CP,
And the price of crude has halved since 2011.

I've spent many weeks on Ravenspurn North over the years and I've even got a model of it in an acrylic block somewhere. Used to be operated by Hamilton Bros., which became BHP Billiton Petroleum.

[guesswhosback] 26/10/2017 09:59

DH I'm glad you asked those questions I didn't realise what a great job Hugh has. As you say options for doing their job seems incredible. What are the options for failure? 15% for Wressel is a disgrace especially.Try ringing the company the phone just rings out. Not even sure why they turn up.they don't seem to have much to do.

We had an RNS per day when they pumped the price for the dilution.

What's Hughs salary?

[currypasty] 26/10/2017 09:44

Hugh took over 10/10/2011

[dunderheed] 26/10/2017 09:37

Jus I am sorry and I dont want to appear to crticise but you really really are missing the bloody point. you dont have to do any work you have to ask the question I have!!
1. Unfortunately, staff have to take pay cuts if their business model isn''t working or it collapses and they lose their jobs full stop.
2. where are they cutting salaries from in teh first place? If too high anyway and normalising - so what?!
3. So you think it is fine to pay cut then option reward later for merely doing their jobs - lol!
4. Farm out Ireland - yes good point but if this farm out does not add value to the share holders by increasing the share price in comparision to their peer group - what is the incentive to farm out on a good deal or just farm out at any deal - and you get 35% of your options for this - lol!!
5. 15% options for delivering on tehir jobs - how is this a pay cut then - based on the option price could even be a bonus!!
6. Share price above 10p for 30 calendar days - fine - but what was share price when these were issued? If significantly lower - I suuport this but feel the other 50% is merely for job delivery!! All imho.

[jusmasel99] 26/10/2017 09:22

Perhaps I could ask you DH to tell me which if any peer group companies management and head office staff took a 20% pay cut in return for having to invest in the company at 6.5p a share up to 10p a share? To be honest I think that answers your question with out me doing lots of work .. bearing in mind that it would be extremely difficult for Hugh to sell any of these on without the entire company being sold.

Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, announces that it has today awarded a total of 3,560,000 options to buy Ordinary Shares of 1p each in the Company. The options are granted in recognition of the 20% salary cuts taken by the Board and office based staff while oil prices have been depressed. Together with the 11,885,000 options outstanding prior to this award the total of 15,445,000 represents 6.3% of the current issued share capital.

Options Awarded
Hugh Mackay 1,600,000
Phil Greenhalgh 1,200,000
Roderick Corrie 150,000
Other staff 610,000
Total 3,560,000
All of the options have an exercise price of 6.5p (a 73% premium to the current share price) and are exercisable after 12 months, with a 10 year life.

The options awarded to Mr Corrie only vest if the share price is above 10p for a continuous period of 30 calendar days.

The options awarded to Mr Mackay & Mr Greenhalgh vest as follows:

50% if the share price is above 10p for a continuous period of 30 calendar days
35% on successful farm-out of the Company’s Irish acreage
15% on successful start-up of Wressle production

[itsriskythat] 26/10/2017 08:47

Just an observation:

In the last couple of days three different book-builds for a share placing and open offer have been announced: President Energy, Jersey O&G and Victoria O&G. The market was told by RNS that a placing was proposed and that the book-build was being conducted.

I just checked Europa's placing presentation from May and on slide 25 it indicates the timetable for a book-build for their placing and open offer. The share price fell sharply, during the investor roadshow and book-building, but there was no RNS about the book-build until after it was completed.

Conclusion: insiders had the chance to sell before the news.

[currypasty] 26/10/2017 08:46

Just looking at the holdings, it doesn't look like we have any institution, or large private shareholders with more than 3%.. All in the list are nominee accounts.


Shareholdings in the company greater than 3% as at 19 June 2017

HSBC Global Custody Nominee (UK) Limited <898873> 11.39%
Hargreaves Lansdown (Nominees) Limited 7.80%
Barclayshare Nominees Limited 7.54%
TD Direct Investing Nominees (Europe) Limited 6.06%
Hargreaves Lansdown (Nominees) Limited 4.55%
HSBC Global Custody Nominee (UK) Limited <800757> 4.38%
HSDL Nominees Limited 4.24%
HSBC Client Holdings Nominee (UK) Limited <731504> 3.27%
HSDL Nominees Limited 3.16%
Huntress (CI) Nominees Limited 3.10%

[dunderheed] 26/10/2017 08:33

Jus - serious question can you go back to your 'pals' over at eog and ask for the peer group comparator for relative share price pfmce, that they will use (at least in part - and the percentage of this would be good as well) for the long term incentive schemes as I cannot see how this part of their respective incentive schemes will be released based upon recent - mid term share price pfmce.

You keep on talking about cheap G&A - well let's see some of the 'other' potential costs that are not as 'openly' shared?
All imho of course!

[jusmasel99] 26/10/2017 08:25

Ravenspurn Deep continues ...

In the UK, the contract end date with Perenco for the jack-up Rowan Gorilla VII was pushed from August to November 2017 due to well in progress. The contract has a priced option to extend for a period of 15 to 110 days. The dayrate has not been disclosed.

[itsriskythat] 25/10/2017 18:31

I've been caught out by the last two RNS's at Angus.

First the OGA approval, which wouldn't have been given, if planning permission for the sidetrack was not considered to be watertight. Second the letter from SCC.

What Angus proposes is as follows:

"After a careful and considered review, the Management team and Board of Directors of Angus Energy will, as Operator of the licence, submit a normalisation application for the continued surface activities of the production plant required for well BR-X4 and notably, its inclusive sidetrack BR-X4Z."

"The Company reiterates it has all the required permissions from all of its regulators to continue production at the Brockham Oil Field including the Kimmeridge layers. ."

It's a fresh permission for the continued surface activities that is being sought.

I suppose that amounts to the same thing in the end.

[mrphiljones] 25/10/2017 17:44

The traders here buying back in?.....:-))

[dunderheed] 25/10/2017 17:43

5984 - Change in mgt / merger of sort - all peer companies are probably way 'over-valued' now?
Jus - did you get the peer compartor group list with ergard to options crystallisation. I would be very upset to see any of this mgt team get any options based upon pfmce to date this year.