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

[dunderheed] 23/2/2018 07:48

6622 good post, especially last para, lol.

[jusmasel99] 23/2/2018 07:44

I hear what you are all saying about Hugh and his team with placings et all and loss of shareholder value. The share price depends mainly on sentiment in AIM rather than actual results but I think it should be noted what a tight ship he runs. UPL reported their interims today - they have already been diluted twice since their IPO and now have a Mcap more than ours - yet their Admin expenses are 50% more than ours. A lot of Execs in AIM making a lot of money out of their companies with little to show for it - Hugh and his team in comparison don't make much at all and much of Hugh's income has been reinvested in share purchases.

[dunderheed] 23/2/2018 00:06

Spangle / PC this is what I've been saying for ages now!!
It seems we as shareholders have constantly paid the salaries of a team that constantly seem to think they've got ahead of or seen something the market has not been aware of, ie stolen a march on the market. Unfortunately history indicates this is not the case and I would be concerned at any further placements to substantiate other 'marches' lol!! All imho of course.

[spangle93] 22/2/2018 23:33

Curry - those are damning figures - did you raise it with the company when they bleat on about how their market cap is rising in the pool of AIM oilers (actually, the others are probably falling rather than EOG rising)

Hash - there's truth in your copied post, but it tails off towards horoscope quality ;-) The Wessez Basin (Weymouth Bay) is discrete from the Weald Basin, separated by a ridge and faulting; the Sherwood Sands at Wytch Farm is Triassic in age, but Wealden rocks are Jurassic

[hashertu] 22/2/2018 17:43

Jusmasel99. You seem to ferret information out where others fear to tread.

Copied from the UKOG BB. Reference Weymouth Bay.

thomo11
22 Feb ’18 - 16:18 - 70836 of 70872

I spent 30 years of my working life in the offshore oil industry as a Chief Engineer on DP vessels. Knowing where the oil is and bringing it to the surface in large quantities is not easy. Sometimes a company may drill a number of wells before they hit the sweet spot. This company has drilled very few. The oil is there that is a proven fact and the field is very extensive.
In the late 90's I was involved with an offshore support company who were involved with a very large oil company who [No names no pack drill] drilled for and found oil in Weymouth Bay.
The test results were sensitive and as far as I know have never been published.
The oil game is like that. The field is not like the fields in places like Canada and USA where oil was sometimes lying on the surface and so X marked the spot.
You have to be very patient things will go wrong and problems will occur but something will eventually happen.

[currypasty] 22/2/2018 15:40

In feb/2011 the shareprice touched 42p with 130m shares = £55m MCAP

10/10/2011 Hugh took over, shareprice was 10p, with 130m shares = £13m MCAP

25/10/11 hugh issues 7.8m at 9p = £0.70m
9/1/14 hugh issues 47.7m at 6p = £2.86m
20/1/14 hugh issues 19.3m at 6p = £1.16m
23/7/15 hugh issues 17.3+22.6 at 6p = £2.39m
12/6/16 hugh issues 24+11+21.5m at 6p = £3.39m

total cash raised by Hugh £10.5m

Total shares today is 301.4m at 3.875 = £11.7m MCAP

[currypasty] 22/2/2018 15:31

UKOG bounced off low of 1.3, angs well up from their lows.. and EOG????

£11m mcap

[jusmasel99] 20/2/2018 16:23

Rogerlin I think the jury is swiftly coming to a conclusion here on the Weald Kimmeridge play. Yes it is naturally fractured and has reached thermal maturity to produce moveable hydrocarbons BUT not in any great quantities. Horse Hill looks as if it may just have been lucky enough to hit a small pocket of more fractured micrites.

my opinion - dyor - this isn't facts - etc etc etc

[rogerlin] 20/2/2018 16:04

10 to 72 barrels per day. I think we'd better hope for the original conventional targets to come in at Holmwood.

[cheek212] 20/2/2018 10:51

Done - it seems a few people on LSE have also completed so hopefully everyone here doing their thing to support the business/drill to.

[jusmasel99] 19/2/2018 16:51

Rogerlin - the vertical Balcombe 1 was much the same as the original Horse Hill drill - seeking gas at LIAS depths - in my opinion they chanced upon hydrocarbons in the micrites and decided to test them. What is missing from both wells is more details of the flow testing - sure you can get 1500bpd equivalient for a couple of hours then a substantial drop off to .... 50bpd? Yes horizontal will increase that but how did Cuadrilla complete it? Could it be Broadford Bridge all over again? We know that they ran into trouble in the last 200 or so ft of the drill so stopped. AND of ocurse they walked away from it at the time as did ANGS from Horse Hill. Lots of unanswered questions, lots of conspiracy theories, lots of details missing ...

DYOR all my own opinion don;t treat what I say as facts etc etc etc...

[rogerlin] 19/2/2018 16:39

The discovery well Balcombe - 1 was first drilled in 1986 by Conoco, targeting the Great Oolite, Portland Sandstone and Kimmeridge limestones. Approximately 568m of Kimmeridge Clay was encountered in the well, including thick micritic limestone layers. Balcombe - 2 and its associated side track Balcombe-2Z completed drilling in September 2013 to a vertical depth of 2,200 ft, and horizontally through the Kimmeridge Upper Limestone to a length of some 1,714 ft.

Jus, Presumably the original was vertical? The new horizontal well could still flow, Broadford Bridge could flow, then the herd will awaken, before Holmwood has even been drilled.

[jusmasel99] 19/2/2018 16:20

Indication from Vermillion 2016 accounts about Corrib future production:

"production at Corrib is expected to remain stable for a period of 12 to 18 months following the achievement of peak production volumes before starting to decline".

So if they want to maximise their return then they need to start looking for additional resources soon. Anybody know of a company that has such resources only a short sub sea pipe line away?

I do think, in my own opinion, do your own research, this is not a fact, etc etc that once the Shell sale is complete we will see action as Vermillion need to be approved as an operator before they can take control of our Corrib licences.

So how much is the licence in its present shape and form worth? It has the results from a $30m well that found gas for a start. It has unconfirmed contingent resources of 1 trillion cf gas. That could double the life expectancy of the processing plant that is in the process of changing hands for EUR 830m - a significant investment that is at risk while there are no possible replacement resources in hand. Worth remembering that Vermillion could not have applied for the licences we got because they did not have operator status in Ireland although admittedly Statoil could have but try asking the Statoil board for more investment into Corrib.... I can guess the reply.

[christy41] 19/2/2018 16:12

Latest from Hugh....

[dunderheed] 19/2/2018 15:26

Ah thanks Jus I'm on my phone and can only see the upgrade and logout and no envelope? I'll try later on my laptop. Thanks.

[jusmasel99] 19/2/2018 14:55

At the top of the page there are three buttons side by side Upgrade Logout and one that looks like an envelope - click on that one.

[dunderheed] 19/2/2018 14:43

Jus, ok yiull have to explain in words of one syllable how I find this personal mail matey!! Lol!

[dunderheed] 19/2/2018 14:40

Jus, blimey I'll have to see if I can find that!! I haventva clue about all this free bb high-tech mulkarky!

[jusmasel99] 19/2/2018 14:35

DH - I sent you a PM with a link

[currypasty] 19/2/2018 14:21

make your representation here...

[dunderheed] 19/2/2018 13:58

FB yes thought it was but it just didn't look right and thought that after an entertaining couple of days with my GF, I was unconsciously influenced and mis remembering!!
I'll go back and edit thanks!!

[fardels bear] 19/2/2018 13:39

Dh - it's cum, not come... Honest. ;)

[jusmasel99] 19/2/2018 11:20

Nearly 4 weeks since the new directors were appointed and no share buying yet. Hopefully because there is news coming our way.