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

[joestalin] 28/2/2018 10:59

" a stopped watch is right at least once a day "

Technically, it is twice a day.

So it looks like the Dorking green welly brigade have won - for now at least.

[dunderheed] 28/2/2018 10:54

6648, How can you say that? Hughie was so so confident with all the big industry interest for these blocks. I'm sure they're just keeping their powder dry for when they put all the bids in?
I have no idea about Corrib but am concerned there seemed to be a 'similar' aura of 'stealing a march' on all the market for these previous Irish 'assets'.
As I say though, a stopped watch is right at least once a day so surely to God, Hugh at al have got this one right lol?

All imho of course.

[guesswhosback] 28/2/2018 10:40

Its all about Corrib now, the other options seem to have disappeared. I will be glad and lucky to get my money back.

[itsriskythat] 28/2/2018 10:11

Is the data room of Irish assets closed until May? Why would that be?

[dunderheed] 28/2/2018 09:43

6645 CP what does 'history' tell us lol?

[currypasty] 28/2/2018 09:09

"My guess is we will know soon enough because I am sure the new directors and probably the staff too are desperate to fill their boots at this share price ..."


as long as they don't shaft us with options at this price

[uen_investor2] 28/2/2018 09:03

Another positive article on UEN published..

www.branduk.net

Summary

"Summary: Although the UEN share price drifted lower for the majority of 2017, the developments at the South Dagi oil prospect has seen shares double in value in a very short space of time. As I would expect with oil E&P stocks, the low VectorVest RS rating may see cautious investors look elsewhere, but nonetheless, UEN fundamentals, earnings growth and current valuation gap all add up to a highly attractive oil sector play at this moment in time. Buy.

Dr David Paul"

[jusmasel99] 27/2/2018 16:18

ARbitration must have given them 10% of 16/14 and clearly good news that they intend to move to a Frontier Exploration Licence. That will be interesting to see which portion of the licence they drop.

Woodside just raised $2.5 Billion (think that might be AUD) enough for a couple of wells and a pint or two of Guiness.

[dunderheed] 27/2/2018 16:08

I have a mate at Woodside and the story is they entered Senegal after Ireland interpretation. So could be interesting?
I thought it was the other way around! Ie saw good things in Ireland after interpretation of Senegal.
All imho and dyor of course!

[rogerlin] 27/2/2018 15:42

Petrel were in dispute with Woodside but perhaps that is now resolved?

[jusmasel99] 27/2/2018 07:25

16/14 directly below our fel 3/13 fel 1/17 licences. Doesn't Shaw prospect extend into this licence?

[jusmasel99] 27/2/2018 07:15

Petrel Resources plc is pleased to announce its receipt, after Government approval, of a 10% interest in Licensing Option 16/14, which is operated and currently held 100% by Woodside Energy. LO 16/14 is a 1,579 km2 Licensing Option, approximately 150km southwest of Ireland, which covers Blocks 54/11, 54/12, 54/13, 54/16, 54/17 & 54/18.



The partners have applied to convert the Licensing Option to a full Frontier Exploration Licence. An extensive 3D state-of-the-art seismic survey was acquired by contractor PGS during summer 2016. This 'Granuaile' dataset has been processed by Down Under GeoSolutions, and final products are due to be delivered to the Operator shortly.

[caters] 26/2/2018 22:03

I suspect that you are not on your own and that Vermilion will be keen to relieve you of your pain for what may seem like a whopping premium but will actually be peanuts :-)

[guesswhosback] 26/2/2018 20:20

That's not the worst outcome right now for trapped investors. They can have my shares for 10p. I've seen so many oilers dream of big wins. They are so rare. I think EOG had it right with both onshore opportunities but it's actually become too difficult.anything better than where we are now is good for me.

[caters] 26/2/2018 19:54

I like Corrib's opportunities for EOG. I'm not sure of the timing and, if as you say, gas is seen as a better option that peat (!), then Corrib2 and Corrib3, etc, do have a bright future.

Does Hugh have the nouse to sort it?

Will Vermilion strike early? (My guess is that they will.)

EOG's UK assets will then just be sold off/given up by Vermilion who'll then make a fortune from EOG's 'Corrib' licence.

imho.

[jusmasel99] 26/2/2018 19:22

Caters - UK Onshore isn't a great place to be at the moment. I get the feeling that Wressle and Holmwood will be the last two attempts by EOG before they look at pastures new and more amenable. But as I mention above and with reference to the strategy document just published, Corrib is really important to the greens now. Without it and perhaps another one or two similar facilities they won't be able to shut down the peat plants and peat is far more carbon unfriendly than natural gas.

Greens don't like nuclear either but accept it to some extent as an interim measure.

By 2025 - just 7 years away - Corrib production will have declined by 50% without further resources becoming available. I wish I had the time to do the sums on Vermillion's investment and the Pension Company. Any extension of the life span of the plant will be highly profitable for them but have they already taken that into consideration in their plans???? Recall that the Vermillion MD already had costed the pipeline from our well to the tieback - he was certainly excited about the possibility of finding more resources.

[caters] 26/2/2018 18:58

No one doubts that. The question is whether EOG is now hogtied by the Greens (in all of its licence areas).

[jusmasel99] 26/2/2018 18:54

and a wee addendum ... Irish energy consumption has doubled in the last twenty years .. that growth is likely to continue ...

[caters] 26/2/2018 18:31

But that presumes that Hugh can negotiate a good deal or hold off a derisory takeover offer.

I think the latter will happen once Vermilion have the green light.

Edit:

I wonder what the Canadian pension fund now thinks of its purchase of Corrib given the recent Green noises?

[jusmasel99] 26/2/2018 18:20

It seems that the reality of the energy requirements for Ireland will supercede the best intentions of the idealistic greens. The Irish have published a National Development Plan hxxp://www.gov.ie/en/pdf-viewer/?file=hxxps://s3-eu-west-1.amazonaws.com/govieassets/18/5569359-NDP%20strategy%202018-2027_WEB.pdf#page=76

Of course the world is concerned with Carbon Emissions but the Greens can't change that overnight. The Irish still burn peat to provide power but that is more likely to end soon than the end of Oil and Gas Exploration and this strategy document confirms that. Corrib has given Eire a massive boost towards self sufficiency but yet they continue with the new gas pipeline to Scotland to ensure continued gas supplies as Corrib production starts to dwindle. Corrib has only 13 years left of its estimated life span from current resources and production will soon start to decline unless steps are taken to prolong its lifespan. That can only be achieved by exploration and I am certain that that will happen. Even the possibility of state intervention investment is a possibility given the reliance of Ireland on gas for power over the medium term.

The only other strategy apart from renewables appears to be the Celtic Interconnector supplying Ireland with electricity from France - as if France had not got enough troubles of its own from the Greens. This connection will be High Voltage Direct Current - meaning that on top of the transmission losses through resistance there will be massive losses through conversion from AC to DC to AC. The Irish think this will be cheap. Mmmm - well good luck with that one - it certainly is not a green solution.

Having read this document I can see that Corrib has become more important to Ireland as a result of Brexit and the reality of that is only now becoming clearer to the politicians. They may not like OIl and Gas exploration but they certainly need it now more than ever.

Europa very well placed to benefit and more to the point perhaps Nexen and Faroe are beginning to realise what we are sitting on. As I said before we basically own a $30m well that has been drilled into a reservoir of gas. That would be a starting point for negotiations for a farm in - way above our present Mcap and to top it all time is not on Irelands side. They need to keep Corrib running at full capacity (maybe even increase capacity) just in order to be able to switch off the Peat fired powerstations.

Looking good here ....

[dunderheed] 26/2/2018 09:51

Ngms ot haven't seen you at aex lately. Be interested to hear your interpretation of last cpr and way forward?

[hashertu] 24/2/2018 18:07

NGMS27. You might be right, but this is what prompted the thought.

"InfraStrata plc (AIM:INFA), the independent gas storage and petroleum exploration company, is pleased to provide an update on its plans at Portland on the south coast of the UK.

On 6 June 2012 the Company announced that an agreement had been reached with Portland Port Limited to modify the existing leases at its substantial Portland site. These modifications include permission for a wider range of uses of the land, such as the generation and export of electricity, carbon capture & storage, and salt production. The Company has been reviewing a range of options which build on synergies with the Port, together with, the engineering, environmental and consenting work undertaken to date."

[ngms27] 23/2/2018 18:07

Good luck drilling on land in a World Heritage site. You think permission for Holmwood is problematic...

[hashertu] 23/2/2018 10:16

Spangle. Good to see you back. Is your sabbatical now over?

To be fair to Thomo11, copied above, I don't think he was suggesting the weald oil bath stretched as far as weymouth. More that oil exploitation could be difficult and expensive (and unproductive).

Jus. The thought that crossed my mind was whether that Weymouth "discovery" could be reached cost effectively from land, given the improvements in drilling in the intervening period. And Portland Gas have/had a site that was approved/suitable for drilling.

If it's salary that makes your blood boil, look no further than education. The end of the rainbow has now moved to the DoE.