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

[jusmasel99] 23/3/2018 15:48

The absence of purchases by directors at this low level of share price is surely an indication of a closed period. News to come shortly???

[rogerlin] 23/3/2018 08:15

The Kimmeridge at Broadford Bridge doesn't seem to have gushed, but UKOG will be going back Horse Hill and the excitement could begin again. Let's hope they can pay for their share of Holmwood at the end of all this!

[jusmasel99] 23/3/2018 06:51

Thanks Spangle - you want to have a look at this report hxxps://mma.prnewswire.com/media/648339/Vermilion_Energy_Inc__Vermilion_Energy_Inc__Announces_2017_Year_.pdf?p=original and in particular page 20 ...

I received a nice email this morning from my contact at Vermillion who cast doubt on my interpretation of what that figure 19,271 represents so I have asked him to clarify it for me.

I'll let you know ...

[spangle93] 23/3/2018 04:26

There's a recently-issued Edison research report on Vermillion, if it's of fringe interest

[jusmasel99] 22/3/2018 09:17

I think the chart above says it all. Somebody with a large shareholding here in January decided to move on based on the planning inspectors decision with regard to Wressle. Fair enough .. but Wressle will be brought into production .. meanwhile the OP is soaring and our income from our existing production now more than meets our Opcosts. We have money in the bank. The forthcoming Holmwood drill is fully covered by our farm outs and we have the imminent announcement from the Irish Government approving the sale of Corrib to CPIP and Vermillion which should spark significant attention our way.

Hopefully the seller will disappear soon and folk will realise what a bargain this is.

[jusmasel99] 22/3/2018 08:14

Spangle - the idiotic nature of this is that it is not about Oil coming up but Oil coming down as a spill AFTER it has been pumped from the well. A point that Egdon had to remind the protestors was that oil floats on water ...

[spangle93] 22/3/2018 07:57

Thanks jusmasel, I'd missed that.
Also, if there were likely to be damage to the groundwater - IF IF IF - then surely it would have been during the drilling phase, not the production. If there's a cap rock that prevents oil and gas escaping to surface over millions of years, it's going to require imagination to see how it could get there now.

[caters] 21/3/2018 21:56

My target was originally 4.25p. Heck, if I'd bought then I'd be down by 30% already and probably cutting my losses.

Something about catching falling knives springs to mind.

but there will come a point where this becomes a bargain....

[guesswhosback] 21/3/2018 17:44

Unbelievable.

[los ricos] 21/3/2018 15:42

Think a change at the top is needed.

[dunderheed] 21/3/2018 15:35

God this was the price I said I'd look at buying. Now it's arrived I ain't so sure. Wtgr if this Corrib thing doesn't go ahead I think it's still potentially over valued even at 10mm and I base that purely on my opinion of management underperformance during last 5 years!!

[cheek212] 21/3/2018 15:11

Yesterday's buys were bigger without any movement!!

[itsriskythat] 21/3/2018 14:59

Those are quite large sells that have gone through. What triggered this, I wonder?

[currypasty] 21/3/2018 14:49

another tick down, now 3.0-3.3, mcap £9.5m

[jusmasel99] 21/3/2018 13:46

Spangle - the planning inspectors decision is in the public domain and it all revolves around ground water. The main question to be answered in the courts if they go down that route is why the inspector did not approve the application and detailing his objections to it as conditions.

[spangle93] 20/3/2018 23:35

Caters - ref #6742, good post

Ref Wressle, the reason for planning refusal was not publicly shared. But IMHO it's not the ol' fracking chestnut or else they couldn't give a rationale against which Egdon could re-submit.

My bet would be that they aren't keen on x tankers per day rumbling past their constituent's front doors for years to come (I haven't done the maths, clearly!) or something similar to do with quality of life (emissions, noise, light pollution, ...).

[cheek212] 20/3/2018 16:39

You never know, a few more days like this and we might even see a tick up in price!! Won't hold my breath though!

[volkswag] 20/3/2018 16:30

Well there have been some sizeable buys today, normally the spread would have been far wider, so someone has been fortunate not to pay a premium for purchases over 100k shares.

[caters] 20/3/2018 11:16

Perhaps the new directors are waiting for a better entry point ;-)

You're right, though, a MCap of £10m is low.

[jusmasel99] 20/3/2018 11:05

Caters - I agree totally with you - I see the upsides here just not when it is likely to happen.

The only inkling I have - and almost clutching at straws here - is that despite this ridiculously low share price the new directors haven't bought yet. So maybe there is a closed period with imminent news. These two new directors/chairman are closely connected to Corrib and will have a vast amount of inside knowledge about what transpired there. It will be good to hear them talk when they get the chance.

[joestalin] 20/3/2018 11:00

" With the LHAG running circles round the oilers"

and they seem to be on first name terms with the county council.

[caters] 20/3/2018 10:55

There are quite a number of oil shares to invest in where the news pipeline is fairly visible - both in the 'what' and the 'when', in rough terms. Often, though, the 'what' can be disappointing.

But no so with Europa as the timing is not visible:

(i) Holmwood - With the LHAG running circles round the oilers, I can't be sure of when this will get drilled, so I discount it completely as it's taken soooo long already.

(ii) Wressle - Hopefully, Egdon can 'join the dots' provided by the Planning Inspector and get this past planning. Entries have to be submitted by 28/4/18 and then it will take a while to chug through North Lincs planning office before it's put in front of the Planning Committee. It could be Autumn before that happens. Then there will be an appeal by the locals scared of (non-existent) fracking, and the delay continues.

(iii) Corrib - I really like the proposition here but it's all 2019 at the earliest and my money could be growing/shrinking elsewhere before then.

(iv) Rest of Atlantic Margin - I'll believe it when I see it and that seems to be the view of the market and EOG itself given the latest ops update!

I may miss out on the low and the creep back up, but that's the risk I have to take by sitting on the sidelines here.

[jusmasel99] 20/3/2018 09:55

That is the problem we don't know when - we don't even know if either is imminent although there will be more than one item of news when either starts to progress.

Yes 0 it may well drift down in the interim - will certainly jump up though when the news comes ...

[caters] 20/3/2018 09:06

But when?

And in the mean time, more risk of drift down.