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

[jusmasel99] 16/10/2019 15:07

Something is happening that's for sure. 2 per cent of the company in one trade!

[rogerlin] 15/10/2019 21:27

This old piece (2017) looks optimistic now, largely because Druid/Drombeg and now Iolar were dry. If Iolar had been a Lisa things would be different. It's easy for politicians to renounce future drilling in the Porcupine if nothing is found. No news on Woodside's well anyway but Exxon, CNOOC, Equinor and ENI all still have licences. Swallows on the horizon surely, not just midges.

[currypasty] 15/10/2019 16:29

high volume today... delayed reaction to that 'awesome' interview?

[dunderheed] 15/10/2019 09:25

Tommy wtgr how many time have we heard those famous words "already interest in FO"?!
With Tony you were always buying into a 100% Irish play.
When Hughie started this was certainly NOT the case.
Until we hear different this is what it has become. Morocco could come good but at what "cost" to (longer term) share holders?
We can't keep on "averaging down" (like the BOD appear to) do with confetti options at "low" prices essentially driven by their own under performance?

I wish everyone best of luck but how about a few more probing questions in these "video adverts" regarding what has been said before and relative delivery compared to that?
Best of luck all and as ever imho!

[tommy241] 15/10/2019 08:46

Hermana3:

I’d rather a “Hughie” as you say, than a “Tone” from PVR - Taking the share price from 700p to 4p? (next stop the administrators?)....

In my opinion the interview with Hugh was positive.
*Revenues to be boosted to £3.5 - £4 mil (up from £1.7 mil) on the back of success at Wressle.
*Inishkea creating more interest and surly will lead to a FO (with back costs).
*Morroco, already interest in FO.
*EOG screening for shorter term appraisal projects.

[dunderheed] 15/10/2019 07:46

How long has he been doing a Hughie now?
After all this time and talk what has he actually achieved?
Sold a load of assets and can only really talk about one of the last he inherited (the rest being sold or given away chasing this Irish dream) having the most certainty regarding adding value?
Let's hope this Inishkea asset comes to something soon? Then hopefully we can return to an equivalent share price level (taking into account the confetti placings) before he arrived, although that will mean really significant "baggers" from this lowly price.
Best of luck all and as ever all imho.

[guesswhosback2] 15/10/2019 07:43

Well hes taken the share price from 30p to 2p, which is impressive if short. And hes chucked in a couple of fund raises.

[hermana3] 15/10/2019 07:37

Still "doing a Hughie". What a leap of faith....

[dunderheed] 14/10/2019 23:50

Thinking the same gwb2 and most of it self inflicted.
I don't think Hughie believes it himself any more lol!
All imho of course.

[guesswhosback2] 14/10/2019 18:37

That was a painful interview.

[cheek212] 14/10/2019 18:18

Which year though?

[currypasty] 14/10/2019 15:00

thanks Christy

Inishkea by xmas?

[christy41] 14/10/2019 14:39

Latest from Hugh just came up on Proactive

[vauch] 11/10/2019 16:44

As per JOG if EOG were to retain 25% fully carried on a �30m well they could sell on half for �4m to �6m

Jusmasel could yo redo the numbers as they are not readable

[jusmasel99] 10/10/2019 10:35

Inishkea is worth more to CPPIB aka Nephin Energy. Vermilion are not interested in further capital expenditure in exploration other than developing some further potential resources in the Corrib Field. That probably rules out Statoil/Equinor as a potential suitor as well. My bet is that it is ENI who are the only major I can find that has a NW Europe Division.

CPPIB have an investment arm that are not averse to funding exploration risk and they have literally billions to spend.

There is also the possibility that Seacrest/Seapulse might be sniffing about.

Any farm in is also dependent on a conditional supply agreement with Vermilion/CPPIB/Nephin.

On Farm In according to accounts published, back costs repayable would be in the region of �1m on a 25% retention.

As per JOG if EOG were to retain 25% fully carried on a �30m well they could sell on half for �4m to �6m

[dunderheed] 10/10/2019 09:02

"Not really" a major.
Good manners or nice polite way to describe rog, Lol.

[rogerlin] 10/10/2019 08:59

Inishkea is surely worth more to Equinor or Vermilion than anyone else, as they have tax losses at Corrib to set against it and the issue of negotiating with the Corrib partners would not arise. Vermilion is not really a "major". Equinor have a number of licences already in the Porcupine, some as operator, presumably seismic has been done on those and if they want to progress them they can, they don't need to farm in to EOG's licences unless the prospects are clearly better than their own. In the end, any operator will need to get a production licence, if that is in doubt then why go to the costs of drilling, I think that is slowing everything down in the Porcupine.

[dunderheed] 10/10/2019 08:57

We "believe" ... is "considering".

Does it give an estimate of potential drill dates (at the "earliest opportunity") and funding of company especially if Wressle does not come in as expected? I thought this onshore stuff was there to provide funds for them to (appropriately) work on not provide funds for them to sell other assets or confetti raise further whilst chasing other g&g dreams?!

A cynic may say what a complete mess that this bod have created from such a good starting point.
Give them all a bonus!!

As ever all imho and dyor.

[jusmasel99] 10/10/2019 08:23

Farmout

As previously announced, we have negotiated farmout agreements in respect of FEL 4/19, FEL 1/17 and FEL 3/13 with the NW Europe division of a major oil company (the �Major�). Europa is in regular contact with the Major and continues to await a final investment decision from the Major�s head office. However, owing to the length of time it has taken to complete the farmout agreement, we have continued to market the licences to other potential partners. We are focused on being in a position to drill Inishkea at the earliest opportunity and farmout discussions are ongoing with a number of parties, including the Major. We believe that the �Major� is considering prioritising conclusion of the FEL 4/19 Inishkea farmout and in advance of the South Porcupine licences FEL 1/17 and FEL 3/13.

[dunderheed] 10/10/2019 07:48

Not bothered about the world class potential billions of oil after the absolute certainties of last year.
Lol good old Jussy.

[jusmasel99] 10/10/2019 07:44

Seems to me that a farm in to Inishkea is going to happen quite soon. Not bothered about the Porcupine any more. A Wressle decision could be forthcoming before the end of the year as well.

Nobody has commented yet on the decision this week by the government to overturn a planning inspectorate decision that turned down an appeal based on climate change concerns. Government said inspectorate shouldn't decide on these matters.

[joestalin] 03/10/2019 16:12

I am not sure that what Varadke is trying to do is compatible with EU law.

[gunsofmarscapone] 03/10/2019 15:36

Inflection point? Hard to see any more downside now unless complete admission of farm in failure.

[guesswhosback2] 03/10/2019 12:07

That's is really kind of you. Thank you very much.