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

[spangle93] 05/3/2019 08:26

Indeed, usually... well, pro-rated to the equity taken at any rate.

Share price is above the most recent placing - it's due for a nose bleed if it crawls any higher

[hermana3] 05/3/2019 08:04

Ah usually!!!

[jusmasel99] 04/3/2019 17:22

All the back costs per licence are in the annual reports. Hugh said the back costs are recoverable as they usually are in a farm in agreement.

[gunsofmarscapone] 01/3/2019 14:02

3.7/3.75

Deal making is the priority, tbh very nearly forgotten about actual oil, seems almost irrelevant! Totally bizarre but I would struggle to recollect any O and G weaner which gave me profits who produce actual hydrocarbons. RKH bought some production but that is about it.

What an epiphany. Lets all forget about bloody oil, in that sense we are all virtual green energy investors ha ha. Good weekend and it went to 3.7/3.9 during my waffle.

Should hold, we have a reasonable cash reserve if a little on the low side for comfort. 80% confident that a transformational deal is imminent ie a time horizon of under six months.

[dunderheed] 01/3/2019 10:48

Well assuming they get a 10-12.5% 'free' carry this implies an asset value around £2bln.
Quite a lot of money that.

[fardels bear] 01/3/2019 10:46

My 50p says it'll never happen, Dh.

[dunderheed] 01/3/2019 10:43

50p possible per share implies a mkt cap of £222MM?
Would you care to share odds on this - I know EOG have some funny chart which they roll out each year for the last "X" years lol with the same kind of (share) prices.
I am surprised they haven't reflected the time value of money discounted (plus placing impacts) on this but there you go?

[purple11] 01/3/2019 09:57

BUY BUY BUY

[currypasty] 01/3/2019 09:56

677k, and 300k sells, I hope that's the end of them.. obviously been a big seller for a while now, lets see if there are any TR1's

[currypasty] 28/2/2019 15:58

good volume today

[christy41] 27/2/2019 12:44

Proactive interview..

[fardels bear] 26/2/2019 23:12

No, wait, I'm Spartacus.

[fardels bear] 26/2/2019 23:12

I'll be Moriarty..

[gunsofmarscapone] 26/2/2019 23:11

Tick up for Curry, yes sounds like complete football journalist speak when you put it like that haha. Sorry about that.

Really made me think though. Malcy makes a living out of such waffle, along with most media types. No offence taken, I’ll be Watson then.

[tommy241] 26/2/2019 19:44

Plenty of news today associated with the RNS. From Finncap:

“Inishkea prospect size increases

Europa has provided a new prospect inventory for its LO 16/20 licence, offshore Ireland. This acreage contains the flagship Inishkea gas prospect, which the company is intending to drill in 2020, subject to funding. Inishkea gross unrisked mean prospective resources have risen ~70% to 1.5 tcf (250 mmboe) and the chance of success has been confirmed at 33%. This raises our risked-NAV and price target by 10% to 45p/sh. To close the large valuation gap that exists, Europa needs to conclude its farm-out negotiations with a major oil and gas company to secure funding for three high-impact wells across its portfolio. The terms for these have been agreed and we are just waiting on final head office approval.
Inishkea prospect grows materially. Europa has revealed a new prospect inventory for its LO 16/20 block in the Slyne basin, offshore northwest Ireland. This acreage includes its flagship Inishkea gas prospect, adjacent to the producing Corrib gas field. Inishkea gross mean un-risked prospective gas resources are estimated at 1.5 tcf. This is 70% higher than our previous estimate, based off the prior 1.1 tcf of Gas Initially In Place (GIIP) and an 80% recovery factor, which gave recoverable resources of 878 bcf. The Chance of Success has also been confirmed at 33%, in line with prior management guidance. Several large oil companies are said to have reviewed the prospect since the data room opened in late 2018.
Other leads not included yet. There are five other Triassic and Jurassic leads on LO16/20, which are not included in the prospect inventory currently. The Corrib North structure containing the 18/20-7 gas discovery well drilled by Shell in 2010 is included in the prospect inventory and may be upgraded to contingent resources pending further engineering evaluation.
Targeting drilling in 2020 Planning for a site survey in summer 2019 continues and a well targeting Inishkea in 2020. This well is estimated to cost £30-35m and is subject to funding. Farm-in negotiations are still ongoing with a major oil and gas company for three of Europa’s offshore Ireland licences, including LO 16/20. Terms have been agreed and the deal is awaiting final head office sign-off.
Risked-NAV and price target raised 10%. All else being equal, the increased prospect size on Inishkea raises our risked-NAV by 4p, or 10%, to 45p/sh. To narrow the large valuation gap that exists, Europa needs to close its farm-out negotiations and secure funding for up to three wells across its high-impact portfolio.”

[dunderheed] 26/2/2019 19:43

Ah ok BH thanks for clarification buddy (well me actually but there u go).
Who the hell is the ticker down?
You need to be a bluey (very wealthy type) to do that?!

[bountyhunter] 26/2/2019 19:01

Gave you a tick up to compensate!

Dh, I was just trying to get farmout and farmin into the same sentence as in the RNS so that comment was pretty tongue in cheek really!

[gunsofmarscapone] 26/2/2019 17:36

I always get ticked down within 10 minutes of posting! Hilarious!