he surely wont know about a JV offer untill it drops in his inbox
could be anytime |
holland buying means nothing happening in the near future. |
on 27/1/23 Polus had 4.979% or 47758398 shares
so the next notifiable will be under 4%, or after they have sold 9.4m
I would have thought with todays sells (if them) that should do it |
a few larger sells dinting the rise on reasonble results and director buys
pity Bo cant just take them out |
Europa Oil & Gas (Holdings) plc, the AIM quoted UK, West Africa and Ireland focused oil and gas exploration, development and production company, announces that William Holland, Chief Executive Officer, has purchased 765,763 ordinary shares of £0.01 each in the Company ("Ordinary Shares") at an average price of 0.71 pence per Ordinary Share.
Following the purchase, Mr Holland is beneficially interested in a total of 7,109,716 Ordinary Shares, representing approximately 0.741% of the Company's issued share capital. |
Seems to be a little bit more activity the last few days.Should hopefully start reducing
the remaining stock of shares held by Polus. |
I guess no longer closed period, and directors can buy a few ? |
a bit better than i was expecting to be fair |
 Chairman's Statement
The interim period has seen plenty of activity at Europa with material progress being made on both our UK and EG assets. After completing the technical evaluation of the EG-08 block, which resulted in an upgraded resource estimate of Pmean prospective resource of 2.2 TCFe across an enhanced portfolio of prospects and leads, and an 80% chance of success for our primary 900 BCFe Barracuda prospect, a farmout process has been launched. It is inherently difficult to predict how long these processes will take but, with multiple interested parties, it is hoped that offers will be received during the first half of 2025. We believe that EG-08 is a world-class asset and will attract bids. At Cloughton, the planning application has been submitted, which involved completing 13 independent technical reports. We continue to work with the regulator and local stakeholders as we progress the project which has the potential to deliver low emission gas displacing imported LNG and reducing emissions associated with consuming gas in the UK. In Ireland the new government appears to be addressing securing of energy supply for the country, which has re-ignited interest in the Irish upstream sector. As such we continue to focus on finding a good farm-in partner for our Irish asset, as well as our EG asset, as an important near-term priority.
In the period, we achieved revenue of £1.2 million (5 months to 31 December 2023: £1.0 million), driven primarily by Wressle's ongoing production. Compared to 31 December 2023, net unrestricted cash decreased to £1.0 million in the first half of the financial year (31 July 2024: £1.5 million), whilst the average realised oil price decreased by 9% to US$75 per barrel compared to the 5 months to 31 December 2023. Work continues on the two-well development programme and concurrent monetisation of the associated gas being produced from Wressle. The timing of these works remains subject to regulatory approvals being granted but both Europa and the operator expect the work programme to commence during H2 2025.
I was pleased to be appointed to the Board in December 2024 as I believe that the business has significant potential and I wanted to be more closely involved. Over the past year, I have continued to build my equity position in Europa and I now look forward to working with the Board and senior management as we progress the business. Concurrently to my appointment, in order to satisfy QCA guidelines, Alastair Stuart stepped down from the Board but remains Chief Operating Officer and committed to the success of the business. In February 2025, Brian O'Cathain decided to resign after seven years of dedicated service. I'd like to thank him for his valuable contributions to the business and wish him well in his future endeavours. At the present time, there is no intention to add another board member.
Within the asset portfolio, we have the potential to deliver significant value to shareholders with our UK production providing solid foundations and significant near-term upside potential from our appraisal and exploration assets, all of which have material activity planned for the period ahead. I'd like to thank the entire Europa team for their hard work and dedication throughout the period. As always, we will continue to ensure shareholders are updated on activities at all Europa assets on a regular basis and look forward to an eventful period for the Company
Bo Krøll (Non-Executive Chairman)
19 March 2025 |
From donalb on the other board.
Planning permission granted to Shannon LNG for power plant in Kerry
Thats, new coalition TDs, the 2 Healy-Rays 1 - 0 ex Minister Ryan
And again with huge "new' government changes, no excuses left to block Inishkea West or Corrib South, new gov policy giving An Bord Pleanala & the DECC the necessary legal green lights. |
a bit of buying today ? |
closed period for interims
right now I would take a 1p offer from Mr Kroll |
I think Wil Holland needs to pull his finger out and deliver something tangible apart from his world class impression of ‘a waste of space’
….and no Wil that doesn’t mean you can just fob us off by rearranging your old slide presentation deck again. |
It makes no sense them selling when the risked NPV10 of Wressle alone is 1p but they are still selling.
They may also want to be fully out by the 5th April.
I’m still surprised no one has taken us out. |
Maybe Christy but for me that would further confirm that the EG "crock of gold" is nowhere near the horizon.
Suet |
They could be divesting from O&G.Same happened at Deltic a couple of weeks ago with another fund. |
It seems to me if Polus want out then Bo and Will cannot convince them that EG may come good. Or perhaps Polus just need cash.
Whatever the reasons it's not looking good for eog.
And the big salaries look increasingly unjustified - imo they need to cut costs to the bone as an equity raise is out of the question.
Come on Bo make an announcement which will cheer us up.
Suet |
end of jan they had 5.8, as of the january rns 4.9 47758398 shares
so nearly 2 months later they could be close to dipping under next notifiable % ie 4% |
Not too sure,steady selling though since their last RNS.
They seemed to be selling in £1200.00 lots previously. |
what have they left ?
perhaps will or bo could take a bit more ? |
If Polus want out which looks the case probably not much anyone could do. |
Mr Bo Krøll doesnt seem to have made any positive impact since his promotion, quite the oposite actually |
Market cap now only £6.2m.
Says it all really.
Suet |
Bad day, been some big sellers recently..
People giving up on Will and his dreams of a JV ? |
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