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

[kirk 6] 05/7/2019 11:32

Can't buy any now online

[oilforex] 05/7/2019 11:30

Someone's buying. Added some more.

[jusmasel99] 05/7/2019 09:03

Great news for Offshore Ireland exploration

[laptop15] 03/7/2019 13:43

https://twitter.com/laptop1515/status/1146355501443272704?s=19A tick up I see :)

[laptop15] 02/7/2019 21:18

Well I've been buying and I'm still confident of making a lot of money. U guys keep selling and I can keep buying ??? it's a great deal for us both ;-) my holding is getting quite big now

[currypasty] 01/7/2019 16:47

spangle.. same old as far as I can see

the project obviously isn't as compelling as hugh led us to believe to be sat on someone's desk for 6 months or more

[rogerlin] 01/7/2019 16:40

Certainly plenty of activity at the Stena Icemax, the supply vessels coming and going and I notice that the standby vessel (Esvagt Don) seems to have what I imagine are its launches (FRB1 and DC1)in the water a lot over the last few days, does this mean anything?

[spangle93] 01/7/2019 15:29

Has anyone done a "compare and contrast" with the shareholder letter of six months ago?

[bountyhunter] 01/7/2019 07:39

So all we can do right now is keep an eye on lolar:

[guesswhosback2] 01/7/2019 07:26

Another shareholder letter telling us nothing. They bumped into some geezer flogging Moroccan licences at a trade show and he convinced them they were so important they could have a go. I dont support this company I am trapped in a potential loss because nothing they have promised has materialised. You have failed with everything in Ireland and UK so let's have a stab at Morocco from our new Moroccan branch. Great holiday destination I'm sure.

[bountyhunter] 29/6/2019 14:40

Haven't we had the fall here already?
This has got to be one of the most frustrating shares I have ever held!

[caters] 21/6/2019 12:49

Hat tip to John Teeling of Petrel and CP for posting

[fardels bear] 21/6/2019 12:40

I do hope that's not pride before a fall.

[rumobejo] 21/6/2019 12:22

a cute soul was saying this going to 1.xp, and he actually promised, yet proven wrong, 2p holding strong...

[currypasty] 20/6/2019 11:12

How has this worked out? Not well. The big surprise is that Ireland where we assumed low political risk and higher geological risk and turning out to have high political risk while the geological has not improved.

Petrel and the partners it attracted to Ireland saw a stable environment, clear terms and rights to develop. This is not what has happened.

- The Corrib debacle lasting 20 years has done serious damage to our international reputation. It now is taken for granted that there will be objections to any natural resource developments. Delays of years are common thus destroying the present value of the project.

- The state changed the taxation laws applying to petroleum projects. There is absolutely no logic for doing this. Exploration has found almost nothing. There are no profits to tax. Ireland has one of the highest failure rates in oil exploration in the world. We should be increasing incentives not diminishing them.

- There is an active political movement to outlaw all offshore exploration. This in a country which is dependent on Siberian gas!!! What began as a fanciful proposition from a tiny left wing party got support from mainstream parties. The recent proposition before parliament has lapsed but damage has been done and a precedent established. Foreign investors can spend their money in over 200 countries, it does not have to be Ireland.

- Finally, companies who obtained exploration licences are being frustrated in getting drilling permits and are having permits overturned on technicalities. The state has allowed explorers to spend tens of millions on early stage prospecting only to frustrate and delay the granting of drilling licences.

Trying to be positive. Should the current well be a hit and should the long delayed work commence on the Barryroe prospect then sentiment may change.

Where is Petrel in all of this? We have applied to assume 100% operatorship of Frontier Exploration License 3/14 and to extend the first phase by one year. It has taken almost the full year to get approval. We have worked up the extensive data on the block and believe that we have a good package with which to attract a major but we have no time.

We have applied to transfer our 100% owned Licence Option 16 / 24 to a Frontier Exploration Licence. Here again we believe the geology holds potential. We will pitch the opportunities to majors.

Finally we hold a 10% working interest in Frontier Exploration Licence 11 / 18, Woodside holds the remaining 90%. We have met commitments until now. When we receive proposed budgets for the coming year we will evaluate whether to stay in or not.

Overall the Irish offshore is a sorry scene.

[4sta] 19/6/2019 14:35

Can still buy 500k at 2.3 so they're hardly short of stock unfortunately.

[laptop15] 19/6/2019 13:17

Another big buy today 600k at 2.40p, it's going to rise soon imo. share price has bottomed on the chart.

[laptop15] 18/6/2019 16:20

Premium buy at 2.40p I see 500k, someone likes the look of EOG :) I'm adding anyway

[tommy241] 18/6/2019 11:51

Finncap:

CNOOC and ExxonMobil have spud the 52/4-A well on the Iolar prospect, offshore Ireland, in block FEL 3/18 of the South Porcupine basin.
This will be the first well offshore Ireland since Providence’s Druid & Drombeg well, 53/6- 1, in 2017 and will refocus the market back onto this region. Iolar will be drilled by the Stena ICEMax deepwater drillship, which also drilled Druid & Drombeg.
The well is scheduled to take 100 days, more in the event of a discovery. It has three targets in the Early Cretaceous, Late Jurassic and Middle Jurassic. This is the first test of the Middle Jurassic in the South Porcupine basin.
Iolar is 70km south of Europa’s Kiely East prospect and 125 km west of Edgeworth. Success with Iolar will de-risk ~1Bboe of prospective resource across Europa’s five pre-rift drill-ready prospects on FEL 2/13 and FEL 1/17.
On a risked basis, these five prospects represent 15p/sh of our 45p/sh NAV. Unrisked, they are worth 147p/sh.
Europa is still expecting to finalise a farm-out of three of its Irish blocks by mid-year with a major international oil company, which includes FEL 1/17 and FEL 3/13 in the South Porcupine basin.
However, success at Iolar would certainly raise interest levels in this farm-out if it is not concluded by the time the well completes.
In Morocco, Europa is expecting to sign a new offshore permit imminently and management continues to screen for additional new venture opportunities.

[ngms27] 18/6/2019 10:33

Once you appreciate that this is lifestyle company you may have a different opinion.

[currypasty] 18/6/2019 10:23

thanks laptop

"#EOG is going nowhere unless Hugh updates the market @Europaoilandgas"


you could expand that to eog is going nowhere while hugh still there?

[laptop15] 18/6/2019 10:19

https://twitter.com/laptop1515/status/1140869256034291713?s=19Should come to life soon imo