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

[dunderheed] 19/4/2018 08:36

Tommy that would be correct but did you ask whether the closed period had been since the new directors arrived because that would not be price sensitive.
Ie asking if in closed period now would be but clarification that they have been since the directors started would not be?
Sounds like eog are being a little economical with the truth here as dud you explain why you wanted to know this?
Thanks for enquiring by the way!
All imho of course!

[tommy241] 19/4/2018 08:20

I checked with EOGs PR and they have been advised not to disclose whether EOG, or any other company, is in a closed period or not.

Oil Price is flying at the moment. Currently just shy of $74. Wressle start up will transform cash flow here and even more so if OPEC achieve their (supposedly) $80 target.

Do the maths on EOGs current 100 bopd and additional 150 bopd from Wressle.

[jusmasel99] 19/4/2018 05:33

Silence is Golden or Silence is DEafening?

I think and hope that the silence is Golden - no director share purchases at this price means something is afoot and about to be announced.

[cheek212] 17/4/2018 08:22

Surely EOG should have Issued an RNS re this news also or is it no longer considered important enough!!Perhaps the BOD are too busy writing another RNS re the Irish farm in!!!!

[currypasty] 17/4/2018 08:14

not sure why no similar update for eog

[jusmasel99] 17/4/2018 07:11

Progress on Wressle from UJO this morning ...

In January 2018, and following the appeal process, the operator announced its intention to submit two new applications to the North Lincolnshire Council:

1. an application to extend the existing planning consent for a further year; and

2. the application of a revised Wressle field development plan that will specifically address the points raised by the Planning Inspector resulting from the appeal process in January 2018.

The first application was submitted to the North Lincolnshire Council on 13 April 2018.

In respect of the revised Wressle field development application, since January 2018 the operator has drilled two deeper cored groundwater boreholes in addition to the investigation boreholes previously drilled. The data from these operations is being used to support this application which will contain a revised site design and hydrological risk assessment. Once the operator has received and integrated the results of the hydraulic conductivity tests executed on the core samples, the revised Wressle field development application will be submitted in May 2018.

[ssrover] 15/4/2018 12:41

o/t PANR will bounce hard tomm from its oversold position. Broker upgrade also in the FT yesterday .

[dunderheed] 15/4/2018 10:53

I know I'm filtered* by jus but if someone can pass over this question I'd be most grateful?
Can I ask where have Shell outlined publicly that the reasom that they stopped exploration was because they were leaving the country? Maybe they stopped exploration because they were no longer interested in Ireland? Reads a little differently?
Has anyone written to EOG to understand why no director buying? Apologies for being lazy was just wondering.







* filtered but not really.

[jusmasel99] 15/4/2018 09:07

The new directors were clearly brought on board because of their Corrib experience and the fact that they joined the board in the knowledge that EOG now own the licence they used to - the one that originally contained the Corrib production feild that they discovered speaks volumes. Did they ask to join or were they asked? Mmmmm.

Shell took over the licence from their company and continued to explore in it for additional reserves for Corrib - the fact that they stopped exploring was down to the decision to leave Ireland not because they didn't think there was more to be found.

I think the fact that the directors haven't bought now at this incredibly low share price has to be down to inside knowledge of news to come. And the one bit of news we know is delayed is Vermillion taking over operatorship of Corrib. Could it be that a deal has been done and awaits for Vermillion to take over?

And it is not just the new directors not buying - Hugh has built up a stake in EOG as well and I am sure would be buying at this level if he was allowed to.

I am more and more positive that the directors are in a lock out at the moment with exciting news on the way.....

GWB - you are right - I would hate to hear they have started buying now.

[guesswhosback] 13/4/2018 16:29

If they buy shares we will all moan that there is nothing substantial about to happen.

[tommy241] 13/4/2018 16:27

I’m unsure, is or is not that a possibility?

Re Frank. EOG’s PR:

Financial PR
St Brides Partners Ltd
Frank Buhagia

[dunderheed] 13/4/2018 16:14

What since they started?
A useful excuse maybe but they should have landed it by now?
Whose Frank anyway? Excuse my ignorance?

[tommy241] 13/4/2018 16:10

Curry, re new directors buying shares. I have emailed Frank three times without reply.

Could it be possible that they have insider information (on Corrib) that prevents them from dealing?

[guesswhosback] 13/4/2018 15:45

Even as an unhappy investor I don't think another placing is coming. Firstly they don't appear to need money but secondly Hugh would be ramping the hell out if it to get the price up as he did last year.

[dunderheed] 13/4/2018 15:36

Why do you think CP?
Maybe they're organising the next placing and hands are 'tied' but of course will take part in heavily discounted deal LOL!!
All imho of course.

[currypasty] 13/4/2018 15:04

Vermilion can have EOG for me, 10p would do


why haven't the new directors bought shares? anyone know?

[caters] 13/4/2018 13:12

There is, I believe, ongoing assessment of Corrib with profiling the various leads/prospects. And then there's all the other Irish Atlantic licences.

I've been following AIM O&G shares for 12 years now and the Irish Atlantic has been a great source of revenue for consultants, surveyors, etc, but precious little hydrocarbon revenue has flowed from it.

Corrib is an exception (though it cost Shell a wad) and why Vermilion will end up buying EOG for a song, imho. Why JV when you can have the lot for sub £20m?

[dunderheed] 13/4/2018 13:05

Because historically they always seem to spend money without any return for share holders and come back with another jt story?
Because the recent senior managers haven't put their hands in their pockets yet?
If the share is such good value I think that it is a fair question why not?
Normally any senior mgt or directors would have a clause inserted into contract for minimum share purchases when joining?
All imho of course.

[tommy241] 13/4/2018 12:53

6877, "EOG has quite a few consultants to pay for the ongoing reprocessing of old 3D."

Can you elaborate on this? i.e what is left to pay for?

From the last placing money was raised for the following:

"3D seismic data processing and reprocessing, CPR production and other geological licence work in the Porcupine basin, offshore Atlantic Ireland "

Thanks in advance.

[caters] 13/4/2018 12:15

Because of the fundraising that will be needed sometime in 2018?

I did mention the other week the cashburn as shown in the recent figures. Wressle won't be in production for quite a while yet and EOG has quite a few consultants to pay for the ongoing reprocessing of old 3D.

But I am a bit bearish about EOG....

[currypasty] 13/4/2018 12:05

how come lots of buying, and price static, small sell and mm's tick down?

[jusmasel99] 10/4/2018 16:52

Well at the moment the newsflow is non existent so hard to attract attention but those smart enough to do some research of their own into the strategic importance of Corrib to the Irish Energy infrastructure will realise that the chances of more exploration in and around Corrib in order to extend the life of the plant are more than high - an absolute certainty.

Vermillion can't announce anything on that score until after they take operatorship which will be before June and I know Hugh has been talking to them already as of course he would be. (not just Vermillion but the Corrib partners!)

We know from what I have been told by Vermillion and what is published that they have allocated $20m for an additional production well in 2020 - that may increase production but will decrease the life of the field.

Time is of the essence and Europa are in the pound seats ..

[cheek212] 10/4/2018 16:27

Ah ha - a famous 1 trade!!! Won't hold my breath!lol

[dunderheed] 10/4/2018 16:18

Mate I walked away from two (?) placings I think. Wasn't happy with all the jam promises that hadn't crystallised. I think they're really on last chances now so will lose their jobs (and realise this as well) if they don't deliver this time hence my little recent gamble lol?
By the way typical new senior mgt not buying any shares. R u telling me its been restricted trade since they started at eog lol?!