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

[4sta] 21/12/2023 08:58

And how much are we paying this new bloke?

[jedc1] 21/12/2023 08:51

Kim-Clay, Paul stated that the Canadian government put a moratorium on drilling in the Beaufortyears ago. I am sure he qould have done a better job than this lot but because we dont own the shares, there isnt much we can do. sad

[spangle93] 21/12/2023 08:47

Suet - just watch some of his videos. See if you can get to the end without your toenails curling.

According to a Google search

was added 3 days ago. I missed that preview of the RNS

It's not hard to find gas in EG. Just ask (former) Ophir. Successfully getting it to a market isn't so easy, nor is learning how to work in EG.

However, from what's shown on the website, it's close to shore, and the fluid is wet gas, so it might turn out to be a gassy oil instead. Moreover from the website, the facilities in the neighbouring block operated by Chevron could be used as a tieback. [It's good that it's there, but not great if you're negotiating terms with the only show in town]

They claim "Together, these three prospects when combined provide over a 90% chance of finding a commercial discovery" though this might be adding 3 independent 1 in 3 chances - I don't know how they have combined the odds.

[suetballs] 21/12/2023 08:41

Yep - not a dilution yet.
Suet

[kim_clay] 21/12/2023 08:40

So they bought ~40% of a company with no balance sheet (£-1000 last published) who acquired a licence in EG. Hopefully young Will did his DD on Antler and how a company with apparently no cash or assets acquired a licence. I'm sure PB can help him given his experience with Franklin Petroleum."Records in the United Kingdom show that Oxfordshire-based Franklin has two employees - CEO Paul Barrett and his wife. It has $200 in the bank and a net worth of minus $32,000.Franklin bought the rights - which are in addition to two Beaufort parcels it bought last year - for the promise of $7.5 million worth of work over the next five years in a region where even an inexpensive well costs more than 10 times that.

[currypasty] 21/12/2023 08:39

on a positive note,its only $3m by staged payments

I await the pod cast etc

[suetballs] 21/12/2023 08:11

Spangle - any views on bloe?
Suet

[4sta] 21/12/2023 08:06

Another promise of great things way way down the line and another snout in the trough to boot. You couldn't make it up could you.

[swanvesta] 21/12/2023 07:56

Paul Haywood is also CEO of Block Energy

[suetballs] 21/12/2023 07:55

Given the issues with nominee holdings I can’t see a GM in the near future.
Suet

[suetballs] 21/12/2023 07:52

Another transformational deal and backed by many of our institutional shareholders. Such a pity that we failed to stop them.
Suet

[currypasty] 21/12/2023 07:49

Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development and production company, is pleased to announce that it has acquired a 42.9% equity interest in Antler Global Limited ("Antler") via a US$3 million cash subscription for new ordinary shares in Antler (the "Subscription"). Antler holds an 80% working interest in the recently acquired and highly prospective EG-08 production sharing contract ("PSC"), offshore Equatorial Guinea, with Guinea Ecuatorialde Petroleos ("GEPetrol"), the National oil company, holding the remaining 20%.


Under the terms of the Subscription, Europa shall pay to Antler aggregate consideration of US$3 million, payable in four instalments, with the first being shortly following entering into the Subscription agreement and the final in October 2024. In addition, Europa, Antler and its founding shareholders (Paul Haywood and Christopher Irons) have entered into a shareholder agreement with customary protections and restrictions, including that each of Europa and Antler's founding shareholders shall have the right to appoint one director to the board of Antler; all decisions made by the board of Antler must be unanimous; and an agreement that all oil and gas assets in Equatorial Guinea are covered by area of mutual interest (AMI) provisions. William Holland shall be Europa's appointee to the board of Antler.


handy if action group kicks will off eog board

[jimmladd1] 21/12/2023 07:46

https://www.antlerglobal.uk/

[suetballs] 21/12/2023 07:45

Anyone know anything about Antler Global?
Suet

[suetballs] 21/12/2023 07:36

Xmas presents from eog I could do without.
Suet

[greypanther2] 20/12/2023 12:32

From yesterday's RNS and from WH's comments later on (assuming the latter have been correctly reported)there is a 170 bbl difference between the 680 barrels of oil / day and the 850 (total barrels of fluid / day. This is the daily water volume, and from this I creckon this is a 20% water cut, or 170 bbl / 850 bbl.

[currypasty] 19/12/2023 16:27

twitter

"
Europa Oil and Gas
@Europaoilandgas
·
3h
Update from Wressle (#EOG: 30%).

As there is no water disposal on site, the produced water is now being disposed in a nearby well but we needed
@EnvAgency
permission to do so.

Before we had this EA permit, 550bopd was as much as we could handle."

[enfranglais] 19/12/2023 15:47

CURRY - "Will Holland and team will also have the luxury of a potentially bigger payday"!!!!!!!!! Well, little Willie & his sidekicks are the only ones having a bigger pay day - WELL IN EXCESS OF THEIR CAPABILITIES!!
It`s about time the owners shared in the largesse, so a £1m dividend would not go amiss, both for the shareholders & the share price (before they waste it all on another hair brained scheme)!!!!!
2 more Directors with a target on their backs, so hopefully only a matter of time!!

[spangle93] 19/12/2023 15:33

@grey panther

I might be putting 2 & 2 together erroneously here, but to follow up on your point

In the RNS they state "the oil production rate over a 24-hour period ending at 7am on 18 December 2023 was 680 bopd (net 204 bopd to Europa)." He re-states this same number around3:45 in the video

But in the same video, around 4:25, he says "850 barrels per day is the current rate".

So if you assume that he's not had a quantitative brain fart, you could draw the conclusion that the difference between the 680 and the 850 (170 bpd)is the water volume, which would be 25% water cut

[suetballs] 19/12/2023 14:34

Cheers Spangle - I am a retired accountant and in my day explaining how you got from A to B was always a valuable part of the equation.
Suet

[currypasty] 19/12/2023 13:00

Tommy, well, that helps the understanding

[spangle93] 19/12/2023 12:55

Curry- I think it's a sequence from his comment on UJO earlier in the link that you shared

As I have said often before Wressle is the gift that keeps on giving and will ultimately repay this investment in its facilities big time. As a base for growing the business in or outside of the UK the asset provides UJO with meaningful cash flow and will formulate significant growth for the future. In the meantime shareholders can look forward to a CPR in the new year which should make interesting reading.


In other words, EOG has a lower interest than UJO in Wressle

But I don't know from what was released today what he's referring to in terms of "the luxury of a potentially bigger payday"