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

[christy41] 02/1/2024 08:48

Even before the revised figures of today the Egdon deal valued our share of Wressle at £24 million.
The disconnect has just got a lot bigger.

Reminder that the investor meet is tomorrow at 2.30pm regarding EG-08

[currypasty] 02/1/2024 08:35

and MCAP still under £12m

[suetballs] 02/1/2024 08:31

So at $75 a barrel our 30% of 2P is valued at in excess of $50m?

[enfranglais] 30/12/2023 11:31

A happy New Year to all fellow benighted long term holders & it looks like we are tied to little Willies gambles for the moment & for all our sakes, just hope that the latest one pays off!!

[tommy241] 29/12/2023 21:48

The text was translated from Arabic, article below:

[hoper1] 29/12/2023 19:37

Think his tipewritters gonx rong

[tommy241] 29/12/2023 16:44

PR continues next week with Investor Meet

03 Jan 2024, 14:30

[jedc1] 29/12/2023 11:21

Who wrote that, a dyslexic?

[christy41] 29/12/2023 09:31

Thank you for posting.

[genises] 29/12/2023 09:16

Not sure if this has been posted.

An oil discovery in the North Sea has long held the attention of two British companies, although another deal for a nearby discovery has failed.

The British company Europa Oil and Gas and the British company i3 Energy are considering plans to acquire the Tyne discovery, which was abandoned by the Spanish company Repsol earlier this year (2023), according to what I learned. It is a specialized power platform.

Europa's chief executive, William Holland, said the North Sea Transition Authority (NSTA) had indicated the two companies might make an off-round bid to discover oil in the Moray Firth.

This comes at a time when the two companies were seeking to join the nearby Serenity discovery with Tyne, via the floating production, storage and offloading vessel “Plio Holm” belonging to Repsol.

However, these plans appear to have collapsed, when Repsol and its partners abandoned the Tyne project.

An attempt to save an oil discovery

Europa and i3 insist that the discovery still needs to be saved, even with the exit of Repsol and its partner Viaro, according to what was reported by the “ Energy Voice ” platform.

“There are a number of options we can do,” Europa CEO William Holland said. “There is a discovery adjacent to Serenity called Tyne, which is an open square.”

He added: "The North Sea Transitional Authority indicated that we can apply for it through an application outside the round... Therefore, we are currently analyzing the matter with our partner i3, and looking for ways to develop it, and there are a number of options."

Holland also said: “If Serenity had succeeded, we would have discovered 70 million barrels of crude oil, and our share price would have been much higher. We are in the oil and gas game, and we have to take risks.”

He expressed his regret that the discovery failed, saying: “It is unfortunate that it did not work out, but it was a calculated risk... We, along with i3, thought it was a very good opportunity... A lot of investors thought it was a good opportunity, because they invested "There too, and it didn't work out...it's the nature of the game."

Floating production, storage and offloading vessel "Pleo Holm"
The floating production, storage and offloading vessel “Plio Holm” - photo from “Energy Voice” platform
Options for developing oil exploration

Europa Oil & Gas had revealed - in October 2023 - that it was continuing to move forward to acquire a minority stake (25%) in the Serenity discovery, despite the setbacks that occurred last year (2022).

Operating company I3 Energy (with a 75% stake) praised the discovery for its potential to produce 100 million barrels, but disappointing evaluation results indicated that hydrocarbons were “non-existent” in the well.

Despite this, the partners confirm that there is still a way to move forward with the project, perhaps by unifying it with neighboring fields, according to what the energy platform has seen, quoted by the “ Energy Voice ” platform.

Seismic data showed that the Blake, Tyne and Serenity fields share a common reservoir, with I3 and Europa seeking to merge the latter into a single development project with the Tyne project.

The matter may be further complicated by Repsol's decision not to pursue the 10 million barrel Tyne project, given that it is "no longer an active project, and the joint venture partners no longer hold the licence".

For its part, Europa indicated that developing a single well in the eastern area of ​​Serenity around the exploratory well “has economic feasibility,” but reiterated in its announcement that consolidation discussions are continuing.

CEO William Holland said the company is working with I3 Energy to determine “the best strategic direction for the discovery, with a variety of development scenarios being seriously considered, including development that includes a discovery that could be linked to the Blake field, or that could be developed using reduced infrastructure.̶1; Cost as an independent field.

[enfranglais] 28/12/2023 17:14

Was that Odious "cashing out" today?
Wonder what little Willie is getting for his other Directors fee?!!!!! Groan!!!!!

[currypasty] 28/12/2023 11:58

the long awaited CPR, the same Will said in November interview it would be a week or two.. but that was before Heyco forgot to tell everyone they needed a permit, to crank production up, to reach stabilised flow to satisfy the cpr authors .

to be fair to Will (and UJO) Mark Abbot of EDR, and now Heyco, were always on the 'lean side' with updates and explanations.

If we can get a stabilised oil production of 800+ bls, the CPR should be very good...

[christy41] 28/12/2023 11:52

CPR shouldn’t be too far behind either.

[currypasty] 28/12/2023 11:45

Hopefully we will get an RNS next week (ish) on improved flow rates at Wressle, and likely UJO will RNS their next $1m receivables.

[currypasty] 28/12/2023 10:56

Europa Oil and Gas
@Europaoilandgas
·
1h
.
@Tennyson_Secs
has increased its Target price for #EOG to 4.97p following the announcement of our acquisition of a 42.9% interest in Antler Global, which owns an 80% stake in the EG-08 gas licence offshore Equatorial Guinea. This offers c. 5x upside from the current share price.

[ride daice] 28/12/2023 10:48

Do you think my 2p price target requires an upward revision ?

[suetballs] 28/12/2023 10:27

EG - possible 120x return - now that would be a nice present for next year!!
Suet

[joestalin] 27/12/2023 17:41

I like the word "potentially". It is admired by footie fans all over the world.

[suetballs] 22/12/2023 16:17

Simon Ashby-Rudd - imo doesn't look much of a heavy weight appointment. Especially if we're not looking to raise more capital.
Appointed a director of Sound Oil in June 2023 - another struggling small oilie with a market cap of £14m.
Any other views?
Suet