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

[bountyhunter] 30/10/2018 12:37

...am looking on the bright side here still, just ;)

[jusmasel99] 30/10/2018 11:50

Always look on the bright side - if you are as confident as I am that Wressle will go into production then the share price right now is a bargain. Sure we don't know how long that will take but worst case scenario with appeal surely sometime next year.

Other thing to remember about Wress;e is there is more to come there from developing the other pay zones as well Broughton North .. mmm.. maybe not Broughton North .. I think North Lincs council wins that one

[currypasty] 30/10/2018 11:38

presentation

[bountyhunter] 30/10/2018 10:56

...sounds more positive, maybe we will get some good news before the end of 2018, but this matter does seem to be dragging on forever with many of us no doubt having gone grey while waiting patiently for a return on our investments here!

[currypasty] 30/10/2018 08:55

Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas
exploration, development and production company, is pleased to announce that it
will be making a presentation at the Atlantic Ireland Conference in Dublin on
Tuesday, 30 October 2018. A copy of the presentation will be available on the
Company's website.




today...

[currypasty] 30/10/2018 08:23

At the Wressle project, in early July 2018 we announced the submission of a new planning application for the development of the oil discovery to North Lincolnshire Council ("NLC"). The Company strongly believes that the new application takes full account of the key findings of the Planning Inspector's decision to dismiss the Company's appeals as set out in his decision letter of 4 January 2018, which identified three key issues in his decision: the absence of a ground conditions survey report; the absence of sufficient evidence on the adequacy of the Geosynthetic Clay Liner (GCL) covering; and uncertainty with regards to the near surface geology, specifically the presence of capping layers to the underlying aquifers.

The first issue has been addressed by the production of an independent Ground Investigation Report using information gained from geotechnical site investigation boreholes drilled in Q1 2018.

The second issue has been addressed through the proposed reconfiguration of the wellsite to install a new high-density polyethylene (HDPE) impermeable membrane above the existing GCL, with additional associated protection layers across the entire wellsite. The specification of the HDPE impermeable membrane, associated protection layers and thickness and suitability of the stone covering layer, has been tested and validated in a laboratory, and agreed between the membrane manufacturer and Egdon's consulting civil and structural engineers.

The third issue has been addressed through an updated independent Hydrogeological and Flood Risk Assessment (HRA), which includes the results of samples tested from two deeper cored boreholes drilled in Q1 2018, which conclusively demonstrates the presence of laterally continuous capping layers to the underlying aquifers.

The proposed development incorporates high levels of embedded mitigation, the effectiveness of which will be verified by continuous monitoring of the nearby water and groundwater.

Egdon also plans to set up a community liaison group and a community fund to ensure the local community are kept fully informed and share in the benefits of the Wressle development.

Whilst we have increased our efforts to convince the members of the NLC Planning Committee of the clear merits of our new application, our recent experiences mean we remain fully prepared to take this new application through another appeal process. As the most recent example of their apparent intransigence, on 1 August 2018 the NLC Planning Committee refused our application to extend the existing consent for the Wressle site despite a recommendation for approval from their own professional planning officers. The reasons cited were conflicts with paragraph 205 of the National Planning Policy Framework and policy M21 of the North Lincolnshire Local Plan even though in his decision of January 2018 the Inspector found in Egdon's favour on our appeal against the same reasons. We have now submitted an appeal against this decision and await the timeline for the process. We anticipate the current application being heard by committee before the end of 2018.

Notwithstanding the issues experienced to date, and demonstrating our commitment to and confidence in the Wressle field development, in June 2018 we announced the acquisition of an additional 5% interest in PEDL180 and PEDL182 from Celtique Energie Petroleum Limited for a deferred cash consideration of GBP0.417m payable on commencement of production.

[kwizza] 30/10/2018 07:43

Egdon resources have some information re Wressle in their results

[jusmasel99] 27/10/2018 07:26

Good find Tommy - confirmation that Gas is the way to go for now and surely, given what he says, they must be interested in prolonging the life of Corrib.

[tommy241] 26/10/2018 18:17

Vermilion media from 25.10.18:

[dunderheed] 26/10/2018 13:38

Probably a debt for equity death spiral?

[jusmasel99] 26/10/2018 09:50

Rogerlin - a really good indicator of the risk reward in exploring for a nearby gas field capable of restoring Corrib to full production. Last year PVR raised finance for Druid from financial institutions - enough to go it alone if need be. What I find interesting at the moment is that those same FIs are still on board at PVR - yes Barryroe looks good but surely an indication that they still see potential in the risk that is the Porcupine Basin. A much much higher risk than Inishkea as long as the Seismic holds up which we will find out about shortly.

I remain positive that Hugh and the team are busy putting together a deal that will surprise us all. Hope springs eternal.

[rogerlin] 26/10/2018 08:10

Still saying the Corrib deal will close before the end of this year, i.e. not yet. An EOG find with a tie-back to Corrib will be excellent, just have to wait a bit longer for the Holy Grail.

[ngms27] 24/10/2018 16:31

If those reports are true, heads should roll. Total incompetence unless its fake news.

[jusmasel99] 24/10/2018 16:29

I asked Hugh what they were up to at West Firsby - at least some detail of their expectations and costs but he said they would have to tell the market first.

I do hope than that this news is imminent, it is good and that above all the 8 barrels is brought back into production ...

The EA assessment is fairly detailed in what they are attempting although they do mention it is fairly expensive ..

[jusmasel99] 24/10/2018 16:09

Well then you could move over to Predator (Not!)

They take optimism to new levels in their presentation today.

Already planning for development wells 6 & 7 at Corrib in 2024/25

They haven't even run fackin seismic yet ...

Unbelievable ..

[guesswhosback2] 24/10/2018 15:51

It shows that the management are a shambles. I have lost faith in them completely. Nothing to show after nearly 10 years. Pitiful.

[currypasty] 24/10/2018 10:19

At Bury Hill Wood, he said:

“They had ex security service personnel, which was interesting to watch their activities, rather than public affairs consultants.

“We did advise them at every stage to actually get some proper advice.

“I think they were quite surprised that they just couldn’t walk in and just drill over one of the most scenic parts of the south east.”
•DrillOrDrop invited Angus Energy and Europa to comment on Cllr Hall’s points. Neither company responded but this post will be updated if they do.

[currypasty] 24/10/2018 10:13

At Bury Hill Wood, he said an oil exploration project had been in the planning system for more than nine years, including public inquiries and court cases. It was withdrawn only in September when the Environment Secretary refused to renew the lease on Forestry Commission land (DrillOrDrop report)

Cllr Hall said:


“It was up a sunken lane, behind Leith Hill, right in the middle of the AONB [Area of Outstanding Natural Beauty], the least accessible point in the county almost.”

He said the company had not done a proper transport assessment and it went to the planning committee at least three times on highways issues because a marshalling area, required by a planning inspector, did not have the owner’s consent.


“The first one was at Rykas [café] at the bottom of Box Hill. Somebody went into Rykas the week of the planning committee and said ‘What do you know?’. They knew nothing.

“The second time, it was the service station at Cobham on the M25. Again, there was correspondence before the meeting: ‘What do you know about this?’ ‘We know nothing, we don’t agree to this.’

“And the last time, which is quite amusing in its own way, they put out to consultation to use a layby on the M25 next to junction 9 only to meet the county planners the next day but also the police and Highways England. Highways England and the police both said ‘We’re not going to have demonstrators all over junction 9, get lost.’ So they had to withdraw it.”

Cllr Hall said:


“They did no proper consultation with the residents affected and they only had one serious access point which was one small lane full of agricultural premises and small businesses.”

[currypasty] 24/10/2018 10:10

post by taucuma on lse...

"It appears that Councillor Tim Hall has appeared in front of an All Party Parliamentary Group at Westminster to discuss the woeful lack of professionalism regarding planning submissions in the Weald.
I'm a little embarrassed at the content of the discussion and the way that our Company representatives were regarded. I have advocated many times here that there was a woeful lack of senior management representation at the Planning meetings in Surrey. It transpires that I and many other on here were right. I too are beginning to agree or at least see the points of view expressed by other posters that maybe, just maybe, a different captain of the good ship Europa should be steered by a different Skipper.
I have said many times that I believe that Hugh is one of the most technically competent Geologists in his area of expertise, but, is that enough to go the final hurdle into production, which nobody can deny has been a bit of a let down.
I really don't want to repeat my previous list of projects that our Company has walked away from in the past. We have it all in front of us , for Gods sake let someone make it happen before I die. GLA"

[currypasty] 23/10/2018 16:08

wressle not on agenda for planning next week... after that its end nov

[jusmasel99] 23/10/2018 12:07

I don't think the councillors realise very much .. it is down the Council's legal department to persuade them of that argument. Egdon has surely covered all of the inspectors comments and that would mean the councillors would have to basically disagree with the result of the original appeal which is absurd but I believe absurdity is their strong point.

As I have said before and to Hugh, I hope their representative at the hearing will not try to speak about the merits of the application only the pragmatism of approving it against a very costly appeal process in which they will claim costs when they win.