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

[dunderheed] 12/7/2018 17:17

7400 reserved for Saul Goodman

[bountyhunter] 12/7/2018 17:16

Yes exactly they will still need more not less gas regardless of an irrelevant investment policy! ...and they won't want to import that if it's available on their doorstep.

[jusmasel99] 12/7/2018 16:53

Peter that is actually brilliant news for EOG as it kills off completely and forever any possible new LNG terminal in or around Cork. Meanwhile for the foreseeable future Ireland's only hope of moving to renewable energy sources relies entirely on gas as the green party has spoiled any hope of investment into pumped storage.

Stop using peat for electricity generation means more gas needed. Irish gas board continues to roll out gas pipelines into local communities which means ...mmm... more gas needed ... Kinsale finally runs out which means ... oh dear ... more gas needed ...

I really think Ireland needs more gas don't you?

[currypasty] 12/7/2018 16:38

.. which was decided in January this year


"The Republic of Ireland will become the world’s first country to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament.

The state’s €8bn national investment fund will be required to sell all investments in coal, oil, gas and peat “as soon as is practicable”, which is expected to mean within five years"



why do people think the govt. selling fuel assets will have any effect what so ever on EOG, who are looking for a private, or public listed company to farm into our Irish licences?

[peterpiper5] 12/7/2018 16:32

news starting to appear now.

Ireland becomes world's first country to divest from fossil fuels

[peterpiper5] 12/7/2018 16:20

doesn't look good any more

irish government passed into law bill banning state fossil fuel investment about half an hour ago

[currypasty] 12/7/2018 16:13

5 x 100k sells!!

Its about time the Company/nomad investigated this.. Been heavy selling most of this year, but no holdings information... Ive a good mind to buy a copy of the shareholder register showing all significant transactions over the last 3 month period.. costs about £300 but would clarify whats going on.

[cheek212] 12/7/2018 16:13

Well today's RNS has done wonders for the shareprice!!!

[peterpiper5] 12/7/2018 16:12

the irish government has just voted to pass into law the fossil fuel divestment bill

the state of ireland can now no longer make any fossil fuel business investments


no one spoke in support of fossil fuels. the writing is on the wall now.

in my opinion no chance of any farm outs now including inishkea. who would invest in irish licences now the government has passed this law.


big eog stock sell off looks already under way.

[bountyhunter] 12/7/2018 13:07

well that's blown it, into the red for the day now!

I think we need something concrete to drive this up, maybe at Wressle before any potential farmout news

[currypasty] 12/7/2018 12:54

malky

Europa Oil & Gas

EOG has updated its prospect inventory for the FEL 1/17 and 2/13 licences in the South Porcupine Basin offshore Ireland. It has also launched a farm-out process for three licences, FEL 1/17, 2/13 and 3/13 ‘which together are estimated to hold gross mean un-risked prospective resources of 4.3 billion barrels of oil equivalent’.

CEO Hugh Mackay said that the ‘PSDM reprocessing of our proprietary 3D seismic data sets over our South Porcupine licences has transformed the prospect inventory’ so with the farm-out process now underway the proof of the pudding, so to speak, will be in the eating…

[dunderheed] 12/7/2018 08:39

CP this is my point.
I think people are tired at seeing the same stuff wheeled out with 'new' 'extra work' done!
Surely if this stuff was so compelling they would have been contacted 'off data room' anyways?
Hugh etc really must be in last chance saloon and I'd be bloody livid if they got rid of him (eventually) to 'promote internally'. That would be a very big mistake.
Here's hoping anyway with regard to your points above but wtgr I haven't been wrong to date, with regard to value increase for small pi's (not share traders btw!!)
All imho and dyor.
Anyway 'orf out for day now so don't take non reply as rudeness.

[jusmasel99] 12/7/2018 08:35

Good news that the work has been completed and just about the right time to let others in to the data room to see what we have ...

Next Steps are fairly obvious ...

The majors that are interested in the Porcupine are there already and have their own licences. They have run seismmic and should be at the same stage as us in evaluating what they have found. Their project teams will be reporting to senior management and perhaps putting forward drilling proposals (Nexen already a step ahead in this regard)

BUT ... they certainly won't drill their own targets without comparing what they have against ours. Absolutely negligble to them what they may to have to pay EOG to farm in and in respect to our first two FELs they carry the benefit of a different tax regime which would be worth more than what they end up having to pay EOG.

If Hugh and his consultants think we have drillable targets then my conclusion is that there will be more wells drilled in the porcupine .. may not be ours but I hope it is.

[currypasty] 12/7/2018 08:32

Its a positive step. Bound to be some fanfare to go along with this, proactive interviews etc, so could help shareprice.

[dunderheed] 12/7/2018 08:23

Ah Caters lol you beat me to it.
Yes and were we talking original Encore acquisition or the further Catcher area farm in later?

[dunderheed] 12/7/2018 08:17

gwb wtgr it isn't. It is 'one way' of doing things though absolutely!
The Catcher deal was a totally different 'prospect' as well (in that it wasn't actually a prospect!).
If EOG had real contacts in the business and if the prospects really are as great as they imply, this would have been done 'off data room' IMHO.
Biggies would rather pay potentially higher than risk 'blind auction' etc. especially for frontier type plays because the 'cost' of negotiating privately, compared to potential 'massive' upside, offset the risk of getting involved in (blind) auction, at this stage of asset cycle, IF they really like what they see.
However I do have some 'real' confidence in, hopefully this 100% banged on, signed and sealed Corrib deal, may come to something?
Jus can comment on that of course.
Once again as ever, all imho and dyor of course.

[caters] 12/7/2018 08:12

But Catcher was smack bang in the middle of a prolific, proven basin...

[guesswhosback] 12/7/2018 08:05

I think it's the way it's done. I remember Alan booth opening the data room on Catcher and getting premier on board. That was a huge success.

[dunderheed] 12/7/2018 08:01

A 'rush' for what CP, if I may ask?
Genuine question.
If there was anything really interesting in the package they would already have been contacted by big oil and this wouldn't have had to be marketed in this manner (this strategy certainly hasn't 'worked' before)?
Perhaps Hugh's 'whispers' have reached elsewhere on this board and we may hear them in due course, lol, so I await to hear that 'version'?!

All imho and dyor of course!

[currypasty] 12/7/2018 07:56

might be a rush?

[dunderheed] 12/7/2018 07:29

There was a time when people got 'excited' about such things.

[itsriskythat] 12/7/2018 07:26

"Europa's farmout data room to secure partner(s) and fund exploration drilling activity opened today (12 July 2018)"

I'm checking on AirBnB for a room in the South Porcupine, it doesn't appear to be listed yet.