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

[luchan007] 15/6/2020 13:15

I suppose you have to ask what is "material" and what isn't. Maybe a farm out deal is news but not "material" in his view as opposed to drilling results, interims - finals etc..

But I do see your point.

Luchan.

[dunderheed] 15/6/2020 13:07

What concerned me was that he appeared to imply the next "material" news would be related to Wressle hence I am inferring no news form Ireland and Morocco (LOL) until at least year end?
All imho of course.

[guesswhosback2] 15/6/2020 12:22

1.2mTCF is something to shout about for sure!

[currypasty] 15/6/2020 11:38

If Morocco is so great, he need to get those facts out.. and by proper means, not a proactive interview..

[guesswhosback2] 15/6/2020 11:23

That was a lonnnnnnnggggg chat but fairly useful.

[currypasty] 15/6/2020 09:34

you would think after that thrilling interview, directors will be rushing to buy shares in the market

[currypasty] 15/6/2020 09:03

cheers

heres the link



or

[christy41] 15/6/2020 08:41

A new presentation from S.O on Proactive

[guesswhosback2] 11/6/2020 19:49

Dunder agreed really poor telephone call but to be fair it was a while ago. Maybe we have turned sa corner and we should give them a chance. Im guessing Hugh is still invested at 6p and more, so fingers crossed.

[dunderheed] 11/6/2020 19:18

Gwb I spoke to EOG on 3 occasions. First 2 ok, last one I thought rude, so didn't bother ringing after that.

[guesswhosback2] 11/6/2020 19:11

Yes mate they added up to mine, roughly. Stock has been a bit scarce. I left orders in? I read your post on the Newlands whoever they are. Happy to talk with them if they are sensible but Im NOT contacting the company. Last time I tried they just filled me full of fear as they were so unprofessional. I know Dunderheed will have not a lot positive to say about Hugh but Im quite enthused by the extra licence. Its gonna take a while though. You can pass on my number.

[currypasty] 11/6/2020 16:40

Guesswhosback2
10 Jun '20 - 10:09 - 9601 of 9637

I have a large order in :-)



not seen any large buys yet, couple of large sells.. thought they were newlands, but guess they were yours

[currypasty] 11/6/2020 14:40

perhaps those new directors will buy some shares? ring newlands up and take the lot?

[jusmasel99] 11/6/2020 09:44

The consortium owners of Corrib are planning well operations next year including perhaps a deeper prospect underneath the existing field. I would hope it would make sense for them to expand that into a multi-well drill. There is certainly now a timeframe in which further exploration is warranted as without it Corrib has only a few years to run. Equinor interest is the key I guess and hopefully linked to their windfarm project. Given that it takes 8 months for approval of anything over there if anything is going to happen next year the applications to DCCAE need to be in fairly soon.

[ohisay] 11/6/2020 09:34

See the Map..

FEL 3/19, which lies 18km east of the producing Corrib gas field, was formerly the LO 16/23 block which DNO acquired following the acquisition of Faroe Petroleum.

Makes so much more sense than that half baked Moroccan excursion.

[rogerlin] 11/6/2020 09:22

Faroe’s only significant interest in Ireland is the Edge Prospect, located in the CNOOC-operated LO 16/23 licence off the northwest coast (Figure 1) some 18 km from the Corrib gas field that started production in 2015. The Prospect is partly covered by 3D seismic. The target reservoir is the Sherwood Sandstone (Triassic), as at Corrib, but at a much shallower depth. The Prospect is considered Long-Term, with a chance of success of about 15%.

Surely this is the same prospect that Faroe farmed down to CNOOC, and so CNOOC must have given up on it?

[guesswhosback2] 11/6/2020 09:00

Good news. Glad I bought some more to average down. Might even see my money back one day. Its not a share price mover by any means, that will come when Wressel produces, which in Coronavirus time, wont be too long!

[spangle93] 11/6/2020 08:50

To be fair, this bolt-on makes a lot more sense than Morocco.

It does double the attractiveness of this asset (I'm not going to use the F word) and provide a material core area to farm out rather than a spotty target. If you look at Equinor (ex Hydro) they just keep their Oseberg field going by adding more and more satellite targets to the original field.

Plus there are no commitments in the licence to demand cost.

There are a few caveats though - we are are told it's a prospective, rather than a lead or something even vaguer, but we aren't given a "chance of success" (CoS). But I can't recall a CoS being quoted by the company or a CPR for Inishkea? So we don't know whether they have equal maturity. Moreover, success on one probably wouldn't affect CoS on the other.

Also we aren't told how nominal the fee is. What's nominal to DNO might not be so nominal to EOG!

The main drawback, at least to my thought, is that Inishkea is NW of Corrib, while Edge is around the same distance East. So economies of scale from a dual development, assuming they are both actually discovered, would be highly limited


Edit - Dunders LOL. If we've been effectively handed something what does that say about its current value.
The whole function of a micro-E&P (it was just a small one before Hughie) is to advance the value of an asset while spending as little as possible. Edge should have value some day, but that day isn't today

[spangle93] 11/6/2020 08:50

"we look forward to showcasing our new position to prospective partners, a number of whom we have been talking to for some time."

I wonder whether the 5th annual Inishkea farm out Christmas party can take place this year

[mesquida] 11/6/2020 08:11

Dunderheed, I well understand your exasperation when folks talk about a doubling of the market cap without any logical argument to support their case, but hopefully you will agree that this deal does make sense, and in principle should make the farm-in proposition a much more attractive offering to potential partners, which ultimately should prove rewarding for shareholders.

[luchan007] 11/6/2020 07:55

Chaps,

am I right in saying the new licence is next door to our current licence by the producing gas field?

Luchan.

[ohisay] 11/6/2020 07:34

Has to be very good news.Market cap should be in double figures after this.Glad I'd already taken a small position here.

[mesquida] 11/6/2020 07:26

Might not set the share price alight just now, but if you believe that Irish gas has a future then this has to be a good deal in the longer term, and eventually value will out.