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

[currypasty] 25/7/2017 10:46

more buyers than sellers, and quite illiquid..

[dunderheed] 25/7/2017 10:34

5273: Yeah and Jus he's a good salesman.
Jus give them your Ireland 'ideas' as well!
Me I'm a black hole and unfortunately a mini ngm - I'm thinking dry but hopefully some HC working system EVIDENCE?!

[currypasty] 25/7/2017 10:15

I think you need to go over to UKOG and spell it out for them !

[guesswhosback] 25/7/2017 10:03

Some profit takers from 5-6p I suspect. New buyers in at 7-8p. Lots of news to come. Im starting to sound like the UKOG rampers. I sure hope the UKOG millionaires come over here when they understand the read across. Is that too hopeful?

[currypasty] 25/7/2017 09:57

looking perky, few sellers spoiling the party.. bet they will be sorry

[edgein] 25/7/2017 09:46

Jus,

Of course, its why old Ed filled his boots on the excess facility. I'll be stunned if there isn't significant volumes of naturally fractured limestone at Holmwood. I'm expecting it to be a more Brockham lookalike than BB-1. It'll likely be limestone zones rather than continuous 1200ft etc. But according to ANGS etc Brockham is more fractured etc than HH and we know what stunning initial test rates they got at HH. I'm pretty relaxed about EOG becoming a bagger on either Irish AM and/or Holmwood. Its one of my largest O&G investments currently. I'm a KL believer, Holmwood has the potential of being a company making asset to EOG. The Slyne and porcupine was the deciding factor that puts these ahead of EDR and ANGS, not just the larger net acreage around Brockham. I can see a consolidation of these assets if there are significant flow rates from Brockham/bb-1. Economics of wells flowing at the HH rates, onshore and pretty shallow make these assets compelling at current oil prices. I could see a large player coming in for 30-40% of all these assets if it all goes to plan for the companies involved.

Regards,
Ed.

[4sta] 25/7/2017 09:45

Has the penny finally dropped?

[jusmasel99] 25/7/2017 09:29

Ed

Do you not see some merit in my argument then that Holmwood is merely an appraisal well into the licence area and that the Brockham sidetrack established the KL as a play in the area? We own more in terms of acreage than ANGS.

Oh well I am sure they will arrive soon.

[edgein] 25/7/2017 09:14

Roger,

Yes its very prospective for a conventional target for a small capped company like EOG. However as we all know by now its the amount and state of the KL that's the real game changer for EOG. Great reaction by UKOG on what's now a £250m capped company, it shows what can happen when the market gets behind these companies. Limestones can give natural flow without frac or even acid squeeze. Limestone/chalk reservoirs can and do produce naturally, the best being the most naturally fractured, as can be seen with the initial flow tests at HH. So it'll be very interesting to see what the 900ft odd of perforations in BB-1 will do over the 14 week testing period. Yes they may have a shale style production profile with the best rates achieved over 6 months and a steep decline thereafter. But ultimately UKOG believe that these wells can recover up to 1mmbbls over their lifetime each without frac. So it'll be interesting to see how these wells perform and maintain pressure on test. Hopefully perform somewhat higher than SOU's TE-8!

Regards,
Ed.

[rogerlin] 25/7/2017 08:48

"The Holmwood prospect has been assigned gross mean prospective resources of 5.6 million boe with a range of 1 to 11 million barrels. Were it to come in at 5.6 million boe, Holmwood would become the fifth largest onshore oil field in the UK. As a result, Europa regards Holmwood as one of the best undrilled prospects onshore UK".

It seems to have always been regarded as quite a decent prospect just on a conventional basis, but not one to get the graph rocketing, that needs a feeding frenzy too!

[jusmasel99] 25/7/2017 08:42

Oh NGMS I don't think so. I think whatever the results of the flow tests the masses will multiply them by the acreage of the licences and assume it will all be recoverable. UKOG will announce it was a vertical well and that Horizontal will be the answer .... a long way to go before a horizontal drill is tested in the Kimmeridge. Maybe that is why Cuadrilla chose not to do so but they did at least drill horizontally ...

[ngms27] 25/7/2017 08:34

Yes but by the time Holmwood comes around the flow tests will likely have been damp squibs.EOG have Holmwood for the conventional play NOT the Limestone fractured or not.

[jusmasel99] 25/7/2017 08:26

EOG STRIKES OIL! (in my humble opinion)

All because of something Dunderheed said yesterday ...

I was sitting here this morning trying to work out what actual percentages of Holmwood and Brockham the various participants owned - and it was getting complicated.

Then I looked at it another way. PEDL 143 is the original licence area that Brockham was discovered in. PL235 is the retained Oil Field boundary from that licence.

Now UKOG are taking off because they have drilled one well into a licence area PEDL234 - some 300km2 - and hit the Kimmeridge again

Well what was BROCKHAM-X4Z if not one well drilled into a licence area which hit the Kimmeridge? A licence area that we own more of than ANGS?

If UKOG rockets because of one well then why not EOG? The read across is one well in one licence area. We have that.

According to that interpretation - from the masses invested in UKOG and ANGS - the Brockham well means that Holmwood is merely an appraisal well in the licence area!

Does anyone see where I am going with this?

[guesswhosback] 25/7/2017 08:24

They must have something special. Great read across for us. Holmwood will generate some interest.so 7 x 7p lol. Magic.

[rogerlin] 25/7/2017 08:18

Indeed the UKOG graph is a wonder to behold. Time for EOG to follow!

[currypasty] 25/7/2017 08:06

UKOG motoring again

[jusmasel99] 24/7/2017 16:49

Rapidly approaching Faroe's market cap ... you do have to wonder sometimes ..

[tommy241] 24/7/2017 16:08

In the meantime, UKOG now have a market cap of £200 million. 10 x that of EOGs

[jusmasel99] 24/7/2017 14:06

Excellent! FB. Great Idea...

[fardels bear] 24/7/2017 13:48

Angus seems to think it can drill long holes and pump oil from the whole of Holmwood...

So, if we use their interpretation of the law, and if (heaven forbid) Holmwood were a duster, we'd just need to drill long holes from Holmwood into Brockham..

Simples!

[rogerlin] 24/7/2017 13:42

Tommy241 thanks for the link, Angus seem very optimistic!

[currypasty] 24/7/2017 11:40

someone after stock, or mm's forcing business?

[jusmasel99] 24/7/2017 11:11

I think the chances of the drill bit going through the Kimmeridge and not finding what the rest have are pretty slim. What the rest have found is debatable but has generated a massive amount of interest.

As far as the recent Statoil wells in the Flemish pass are concerned - my understanding is that these were syn-rift plays .. not quite analogous to the majority of our prospects in the Porcupine. The pre-rift and Cretaceous fan and slope plays are the main targets in FEL 2/13, 3/13, 1/17 and LO 16/19.

Can't remember if it is this board or the other but the fact is that right now we aren't drilling a well and that doesn't help. We are reliant on others at the moment for news and potential derisking of our targets. Drilling will bring us into the spotlight and that is what Holmwood will do. I can't see anything in our share price at the moment that incorporates the potential of good news at Druid.

In AIM folk sell on good news. In order to do that they have to be invested in the company before the good news strikes. That is why I am here anyway.

GWB - thanks for the kind words - keeps me going ...

[lowflow] 24/7/2017 11:07

ngms,

How do you reckon the production profile would be from the HH well if it would have been put on a long-term flow test, at least 30 days?

Thx

[guesswhosback] 24/7/2017 10:33

I think Jus is right. It maybe a duster but AIM works in that way. Rise for news and fall dramatically on anything other! Its a gamblers market, with a small amount of investors, many of which, including myself, are uninformed and uneducated (Curry).

If Druids a failure, so what, Holmwood will generate some interest. I actually wonder if it will rise if Druid is successful as the read across from UKOG is zero. It just needs something in this AIM market to ignite the embers of the herd (UKOG)and there is money to be made.

Jus is far more informed than most here, and if it wasn't for his enthusiasm, we would have very little to talk about. Its just positive chitter chatter, which I like.
If all we read is Ngms, then the world would be a miserable place. You are right about EOG valuation, its priced right. However, its human nature to like a bit of positivity, isn't it?