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

[dunderheed] 20/8/2019 08:12

Imho, I think it's patently clear Hugh has not really had a clue about the "reality" of the EOG Irish prospects since day one? Were they not seriously hopeful of getting these signed off before Xmas and what was the original motivation and logic for the site survey work? Oh dear.
Hope it's not the same for Morocco, lol.
As ever all imho and dyor.

[guesswhosback2] 20/8/2019 07:40

Equally I cannot believe that Hugh would not know something. They are either partnering or not. They also sit on 6 game changing licenses. I have not seen any big sells, so my glass is half full right now. Subject to change!

[bountyhunter] 20/8/2019 07:08

I agree, it's so important to Ireland in terms of potentially reducing future imports that surely it would make sense at least from a political point of view to publish the result?

[guesswhosback2] 20/8/2019 06:59

I cannot see any competitive advantage in not reporting a dud. It would at least give others a chance to save their money running seismic and such like and we could all move on. The whole porcupine basin and much of irelands income and future power is resting on this outcome. I'm sure something will surface soon.

[jusmasel99] 20/8/2019 05:45

It is possible Rogerlin but as I have pointed out before here for some reason it appears that EOG shares are included in a small tracker fund based on Oil Price. Hugh told me you could not discount the possibility that they had time to drill the side track - the original drill time given in the application was 100 days for the main drill and another 50 for a side track which is clearly excessively conservative.

The drill took in total 80 days and about 25 days before the end of the drill Icemax appeared to move off station and switched off its transponder so movement could not be tracked. Could have been weather related but they stayed in position later in the drill through more severe weather.

Basically what I am saying is that I haven't a clue whether it was successful or not but at least both options are still possible.

[rogerlin] 19/8/2019 17:31

A result at Iolar perhaps?

[guesswhosback2] 19/8/2019 16:55

Something going on in the background it seems...

[currypasty] 19/8/2019 15:57

news on farm ins could come any time..

[joestalin] 19/8/2019 15:39

If we knew that, it would hardly be news.

[currypasty] 19/8/2019 13:58

tick up.. I wonder if there is an update in the pipeline?

[aland1] 16/8/2019 15:58

I think we all need to remember that Hugh has in excess of 5 million shares in total and if you look back at most of these purchases they are in the 5/6p range and so he’s well underwater too. I’m certain he don’t want to lose cash either and so I’m personally very hopeful in a positive outcome here.

I agree that timelines are poor thus far in terms of Morocco and majors queuing up at our door for our current farm-out offerings. Hugh clearly has agreed good terms with the major we are waiting on and I suspect it is a very big player. Otherwise if we have other interested majors why not just accept from them. Only my views GLA

[jusmasel99] 16/8/2019 15:31

Well that's an interesting move upwards ... very strange

[dunderheed] 16/8/2019 09:54

It just shows the inherent lack of understanding posted on here.
On the one hand there is a "hullabulloh" about Hugh purportedly saying all the oil companies will be crawling over broken glass post positive IOLAR result and on the other we have tight hole status - meaning no companies are going to know the results anyway?
What weird confused messages?! LOL

All imho and dyor.
Perhaps Hughie can put us all straight and have one of those "oh so demanding interviews" about the prospects moving forward again and again and again and again!!

Then we can roll out that expected share price chart which never seems to take into account the BOD confetti effect here and political environment changes. LOL

As ever all imho and dyor folks!!

[jusmasel99] 16/8/2019 07:59

Drop in the ocean indeed. When Exxon Mobil hit 9 tcf off Cyprus last year it didn't move their share price one little bit.

[bountyhunter] 16/8/2019 07:16

Yes thanks Jus. If no news is forthcoming maybe someone will spot a flare at Iolar if we are fortunate which could give a clue.

[hermana3] 16/8/2019 07:13

These 2 massive oilies are very leakproof and iolar is a mere drop in the ocean to them

[guesswhosback2] 16/8/2019 06:59

Thanks for that clarity Jus.

[jusmasel99] 16/8/2019 06:33

They CAN keep the result tight for 5 years if they want to. They can alternatively release the news to market today. What they did have to do is declare that the result would not be made public once the drill was completed although, as before, it is their prerogative when to release it.

Shell for instance declared the 18/20-7 well near Corrib tight and despite speculation at the time that it was a duster, 5 year later when the result was made public we got to know that they had found gas but not in commercial quantities (40bcf)

You have to consider why any company would keep the results tight and surely that would be down to obtaining surrounding acreage or similar play prospects.

Two of the three licences we are expecting a farm in for are of similar play types. The other is totally disconnected (Inishkea Gas) but as we are proceeding with three site survey's it has to be considered that a 3 well contract might be on the cards for the Icemax or similar and that would surely result in huge cost savings.

I would also point out that keeping the result 'tight' is pretty hard to do. No massive sells or buys though yet to give the game away.

[bountyhunter] 15/8/2019 20:47

Jus, are you saying that we are not likely to know the result of Iolar for five years even if a positive outcome does make EOG more attractive to those in the know? I really wasn't expecting that. If successful wouldn't there at the very least a development plan much sooner even if the drill result is not made public?

[guesswhosback2] 15/8/2019 20:46

So, just to be clear, either CNOOC or Exxon make a bid to partner and we are in the game?

[jusmasel99] 15/8/2019 20:38

That us to do with the play type - if Iolar was a success then it derisks our prospects. It makes them far more attractive to those companies who know that Iolar was a success.

[bountyhunter] 15/8/2019 20:32

Shares and exchange rates are different things. Carney is totally biased and as well as consistently getting things wrong he is not even entitled to a vote on the matter, anyway this is not a Brexit thread so that's the last I'll say on it.

[millwallfan] 15/8/2019 19:59

Bounty. I cannot agree that Brexit is not impacting on both uk shares and exchange rates - yes other factors influence them as well but there is widespread comment from various sources including carney and major business leaders that Brexit uncertainty is a major risk for the U.K. economy. I am tens of thousands down on my shares which include Lloyds (89p to under 50) taylor wimpey £2 plus to under £1.50 - neither of which are dependent on the factors you mention.