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

[guesswhosback] 13/6/2018 16:37

Our seller continues to sell into strength

[dunderheed] 13/6/2018 14:06

That's chump change for you isn't it CP?
EDIT or are you referring to the psychological barrier of 5p being broken?

[currypasty] 13/6/2018 13:44

200k buy at 5p?

[jusmasel99] 13/6/2018 12:18

I doubt that the Porcupine Assets are worth more than a farm in percentage plus recovery of back costs as things stand. Probably add a little value because of the tax break on the original two FELs. Corrib though is a different kettle of fish. If they are planning to start the ball rolling on a well then I would hope that they would come out of that smelling like JOG with a nice cash lift plus fully carried through an exploration plus an appraisal well.

[dunderheed] 13/6/2018 11:56

Hang on a sec guys.
All of the Irish assets have been effectively up for sale a long time now?
Ok I see the rationale re Corrib, new directors etc etc but let's not get ahead of ourselves eh?!
All imho of course but if these assets are "all going to get snapped up by Verm." why hasn't there been other interest by other similar companies?
Me, I'd be absolutely ecstatic with a free carry of exploration well around Corrib with EOG keeping - 15 to 25%?
Then if commercially successful, maybe, maybe Verm. would take a look at other Irish assets.

[currypasty] 13/6/2018 11:48

I wonder what all our Irish prospects are worth too them.. buy the lot, and hand cash back to EOG shareholders as a special divi?
What are Hughs exit plans?

[jusmasel99] 13/6/2018 11:05

Very informative presentation Mr CP .. Ireland produces highest Netback for them from all their production. Plans to compress, perforate and deepen as well so they are definitely planning to extend the life of the field. Also states their contingent and prospective resources which don't look too promising and will need replenishment. Easy to do that by farming in to all of our Irish prospects ...

[currypasty] 13/6/2018 09:45

bit of background reading...

Vermillion June 2018 presentation

[guesswhosback] 12/6/2018 18:02

Thanks V. That sounds very positive.

[volkswag] 12/6/2018 17:34

UJO RNS. 8 days ago mentioned new Wressle Field Development Application to be submitted in June 2018.Extract from UJO RNS follows:'New Wressle Field Development ApplicationAn application to extend the existing planning consent for a further year was submitted to the North Lincolnshire Council on 13 April 2018.In respect of a 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 the new application which will contain a revised site design and hydrological risk assessment. The operator has received and integrated results of the positive hydraulic conductivity tests executed on the core samples. The new Wressle Field Development application will be submitted in June 2018.'

[jusmasel99] 12/6/2018 11:03

Field Development Plan is under the auspices of the OGA .. probably requires a new one in conjunction with North Lincs Planning consent. so could have been submitted to them already.

[currypasty] 12/6/2018 10:38

Wressle new planning application....not yet, small delay, any day now?

[bountyhunter] 12/6/2018 10:26

from that link:

"The acquisition follows the news in April that that Egdon, the operator of Lincolnshire-based Wressle, would submit a revised field development plan for the site in May. The application will address points raised by the planning inspector in a failed appeal process."

Did that happen in May? (I may have missed it but don't recall seeing it.)

[currypasty] 12/6/2018 10:16

wressle mention

[dunderheed] 12/6/2018 04:50

Thanks for clarification toonarmy.

[thetoonarmy2] 11/6/2018 22:49

Curry in Spain back Thursdaythink you will like our other one !No and I'm not a constant seller although have been tempted

[currypasty] 11/6/2018 17:36

toon, too be honest its looking like EOG could double long before that other one were in does!

[dunderheed] 11/6/2018 17:30

Ah are you the constant seller thetoonarmy2!!

[thetoonarmy2] 11/6/2018 17:09

Curry 10p? You are surely joking at 10p I'm gone mate only got a million left but I'm off ASAP once over my buy in price

[guesswhosback] 11/6/2018 13:40

Even that seems low Jus. My own company is worth that and we dont drill holes in the sea bed generating billions of pounds of income to the Irish economy.

[jusmasel99] 11/6/2018 13:20

With UKOG in probably terminal decline it still has a Market Cap of £41m. We would need an share price of 13p just to match that .. probably not a great comparison.

PVR has a Mcap of £67m with of course Barryroe coming up as well as significant cash in the bank but we match them on Irish Offshore Prospects. Corrib could actually be drilled and come into production before Barryroe. £67m Mcap would require an share price of 22p.

I would also compare us to JOG. JOG £47m Mcap makes us 15p.

Whichever way you look we seem massively undervalued and the potential to multi bag on positive news is definitely there for the moment.

[currypasty] 11/6/2018 12:55

Im expecting a lot higher too, but still think sellers will be sorry at 10...lol

[guesswhosback] 11/6/2018 12:04

Im expecting much higher now CP. Too many chances here, we would have to be stupid to miss them all LOL.

[currypasty] 11/6/2018 11:54

seller will be sorry when its 10p

[guesswhosback] 11/6/2018 11:46

If the new directors were buying, they probably would have bought from the persistent seller? I guess they are all related in some way.