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

[adnatrob] 19/9/2019 07:57

Chris Oil is putting out cryptic tweets about diving into the next multi-bagger. EOG was one of the contenders circulating through the Twitterati. Love him or hate him, his PR machine will certainly lift the price if comes to fruition.

[jusmasel99] 19/9/2019 07:51

I have him filtered AD - so I don't have to read drivel - and it is ALWAYS pure drivel

[adnatrob] 19/9/2019 07:42

And every time someone posts something remotely positive, up pops Dunderheed. Getting monotonous now. Must have had eyes glued to the screen to react so quickly to the last one.

[dunderheed] 19/9/2019 06:24

Blimey Jussy got a few minutes b4 the paper rounds return? Is the above your opinion or fact buddy? I seem to remember your opinion being posted well over a year ago with absolute certainty with regard to farm out timings and reasons for "non buys" by directors?!
To be clear a 100 times over, of course it is the bods fault the share price is so low.
It is them that guided the company into this ridiculous "eggs in one basket situation" without any other short term value adding alternatives available whilst diluting share holders continuously.
To talk about them not spending money on site surveys unless they were certain of value increase for share holders is somewhat ironic (or simply obtuse?) considering the (earlier) "certainty" they had with regard to farm-outs - and value their perceived value the "market" attached to the Irish "assets" and share-holder value they have created to date!!!
ALL IMHO OF COURSE AND DYOR.
Best of luck all.

[jusmasel99] 19/9/2019 06:08

I doubt there will be many current investors here still in EOG by the time Morocco comes to fruition. Hugh and his team are looking beyond the drilling of Inishkea to secure the future of the company and that in my opinion is fair enough and a good decision to get out of the UK where Corbyn will destroy the onshore oil and gas industry as soon as he takes office.

Rogerlin summarises the reasons why the share price is where it is at the moment and none of the blame can be laid at the door of the management of this company. In particular the shenanigans going on at the DCCAE at the moment where it appears Ireland are the only country in Europe to be so strict about the new environmental regulations brought in this year. It is reasonable to assume that a lot of the delay is down to the work of environmentalists.

But you all miss the positive - we are still pursuing three site surveys. Hugh would not be doing that is he didn't firmly believe that they were necessary in order to secure a farm out.

I doubt now with the sentiment around that even a carried well in the Porcupine would be enough to stimulate the share price but Inishkea is a different story. It NEEDS to be drilled and it will be. It is absurd to think otherwise. A major oil company has looked at the prospect and declared it worthy of drilling so I don't have to take just Hugh;s word about it.

And in a few weeks we will have what should be a fairly straightforward appeal to be heard over Wressle production. At the very latest in early January we will be given permission to start producing from Wressle which I assume will start Q2 2020.

That alone secures the future for the company and by the time that arrives we will surely be well on the way in the drill process for Inishkea.

[guesswhosback2] 18/9/2019 21:56

Lets be honest they have failed at everything they have done so far and they have lost money for everyone. If its not their fault, Its certainly not mine, so Im not sure who we can blame? Its the same repeated failure on everything they do. Apart from that, they are in great shape to do nothing for another 2 years.

I bet they dare not announce that the MAJOR has actually lost interest, we can be sub 1p.

Imagine they have not got 1 single investor in profit? Great result for shareholders Hugh.You truly are the worst CEO of any company I have ever invested in, I guess thats a positive, I just wish you would fail at that too.

[fardels bear] 18/9/2019 20:30

Pie in the sky.

[tommy241] 18/9/2019 19:45

Malcy...

Europa Oil & Gas (LON:EOG)

“EOG has joined the caravan of love to Morocco and has been awarded a large exploration licence offshore the country in the Agadir Basin. The initial inevitable necessary low cost work programme on the 250 MMBO plus prospects already identified on 3D seismic to drillable status ahead of farm-out also inevitably planned.

EOG will start a two year work programme will mature the prospects to drillable status in this time. Although this is another slightly distant reward it is likely to show potentially exciting and high upside in this unexplored basin and EOG has done well to expand its portfolio in this popular international post code.”

[rogerlin] 18/9/2019 18:56

Lincolnshire planners have obstructed Wressle. Druid/Drombeg and now Iolar have come up dry. The political situation in Ireland is unhelpful, it has taken PVR six months to get a permit to do just a site survey at Barryroe. These are negatives but the EOG management is not responsible for them. There is still hope for Inishkea because of the need for gas supply in Ireland, but why not look elsewhere now? A pity we didn't have a block in Guyana though.

[fardels bear] 18/9/2019 09:54

Rained eight days and night solid when I was there. It was about as green as Ireland.

[currypasty] 18/9/2019 09:43

Its just 2 years of cash drain, more placings, and at the end hope for the best


anyway, not many days left till end of September when hugh said things will conclude one way or another

[dunderheed] 18/9/2019 09:27

Absolutely spangle mate - succinctly and correctly communicated as ever!!
Hope things are good with you - just been crazy busy at the moment with personal faaaaamily stuff cor blimey guvnor!

[spangle93] 18/9/2019 09:12

The problem is that EOG neither has
1. A track record of successfully bringing offshore deepwater plays to fruition
2. Attractws other larger players to manage this through advancing value and then farming out
3. The wherewithal to develop the play itself

There's nothing in the first 2 years' program that is going to materially change EOG's valuation. So it's more work, more outlay, but no shareholder value increase for several years, assuming one day it might.

In other words, it's Ireland 2, before they've cracked Ireland 1, and not going to attract any new money

[rogerlin] 18/9/2019 08:59

Morocco govt more supportive than onshore UK or now offshore Ireland for that matter. Might as well move on imho.

[dunderheed] 18/9/2019 08:09

Curry dont be ridiculous.
I believe the "majors" will be calling shuggs already.
EOG have an incredible record about spotting "things" the mkt has completely missed. Just look at the Ireland quality assets and how they have all been snapped up.
Well done Hugh et al.
What another 4 or 5 years gravy train again?

[zen12] 18/9/2019 08:06

Lol Well read the extract you've just posted! The answers there 'unexplored'

[currypasty] 18/9/2019 08:01

To date, only 10 wells have been drilled in deepwater Morocco, of which only
three have penetrated a complete Lower Cretaceous section. Given the deepwater
basins extend for some 1,800 kilometres offshore Morocco, it is clear that the
play is highly under-explored


I wonder why?

[dunderheed] 18/9/2019 08:00

Wow Christ on a bike. EOG have done it again.
Shuggs has spotted another play type that the main mkt or majors had never seen or thought of. I am hopeful this will be as successful as Ireland assets.
Well done EOG, ahead of the mkt again.
Should see at least 5p a share on this eh Jussy?

[hermana3] 18/9/2019 07:23

"Doing a Hughie" now going to another quagmire!!!