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

[caters] 13/4/2018 13:12

There is, I believe, ongoing assessment of Corrib with profiling the various leads/prospects. And then there's all the other Irish Atlantic licences.

I've been following AIM O&G shares for 12 years now and the Irish Atlantic has been a great source of revenue for consultants, surveyors, etc, but precious little hydrocarbon revenue has flowed from it.

Corrib is an exception (though it cost Shell a wad) and why Vermilion will end up buying EOG for a song, imho. Why JV when you can have the lot for sub £20m?

[dunderheed] 13/4/2018 13:05

Because historically they always seem to spend money without any return for share holders and come back with another jt story?
Because the recent senior managers haven't put their hands in their pockets yet?
If the share is such good value I think that it is a fair question why not?
Normally any senior mgt or directors would have a clause inserted into contract for minimum share purchases when joining?
All imho of course.

[tommy241] 13/4/2018 12:53

6877, "EOG has quite a few consultants to pay for the ongoing reprocessing of old 3D."

Can you elaborate on this? i.e what is left to pay for?

From the last placing money was raised for the following:

"3D seismic data processing and reprocessing, CPR production and other geological licence work in the Porcupine basin, offshore Atlantic Ireland "

Thanks in advance.

[caters] 13/4/2018 12:15

Because of the fundraising that will be needed sometime in 2018?

I did mention the other week the cashburn as shown in the recent figures. Wressle won't be in production for quite a while yet and EOG has quite a few consultants to pay for the ongoing reprocessing of old 3D.

But I am a bit bearish about EOG....

[currypasty] 13/4/2018 12:05

how come lots of buying, and price static, small sell and mm's tick down?

[jusmasel99] 10/4/2018 16:52

Well at the moment the newsflow is non existent so hard to attract attention but those smart enough to do some research of their own into the strategic importance of Corrib to the Irish Energy infrastructure will realise that the chances of more exploration in and around Corrib in order to extend the life of the plant are more than high - an absolute certainty.

Vermillion can't announce anything on that score until after they take operatorship which will be before June and I know Hugh has been talking to them already as of course he would be. (not just Vermillion but the Corrib partners!)

We know from what I have been told by Vermillion and what is published that they have allocated $20m for an additional production well in 2020 - that may increase production but will decrease the life of the field.

Time is of the essence and Europa are in the pound seats ..

[cheek212] 10/4/2018 16:27

Ah ha - a famous 1 trade!!! Won't hold my breath!lol

[dunderheed] 10/4/2018 16:18

Mate I walked away from two (?) placings I think. Wasn't happy with all the jam promises that hadn't crystallised. I think they're really on last chances now so will lose their jobs (and realise this as well) if they don't deliver this time hence my little recent gamble lol?
By the way typical new senior mgt not buying any shares. R u telling me its been restricted trade since they started at eog lol?!

[currypasty] 10/4/2018 16:09

the million I didn't sell looks sick though...
the ones I bought in the placing to support the company... at 6p doh!!!!!

[dunderheed] 10/4/2018 16:04

I think multitude of smallies getting impatient with the continual jt story.
You must be close to profit soon, if you bought at recent lows which I missed lol!
Best of luck by the way!

[currypasty] 10/4/2018 15:52

dunder, I dumped a mil end of last year when it looked like UK onshore was not going to be easy without bringing some big gun experts on board to tackle planning (which we seem reluctant to do).
Now it seems priority has switched to Irish Atlantic where we might be in with a chance, so I bought them back, now on 2.5 mil.


seems to me like there has been a big seller all this year to halve the price.. if not one big seller, then probably a disaster if multitudes of small PI's have just given up the ghost and dumped.

The house broker needs to get out there and find some buyers, putting stupid target prices on a share, and hoping for the best is not good enough.

[guesswhosback] 10/4/2018 15:46

Don't hold your breath

[cheek212] 10/4/2018 15:24

A lot of buying today but not much of a tick up in price! Starting to look good though - hopefully positive news imminent or maybe, dare I say it, some Directors buys from the new guys!

[dunderheed] 10/4/2018 13:55

CP you still holding that 2 mill in these?

[currypasty] 10/4/2018 13:00

It makes you wonder why the house broker, Finncap who put a 43p price target on EOG, have sat idly by over the last four months and watched the shareprice half.

We all know there has been a lot of selling, probably from a large holder, but part of the house brokers job is to rehouse large quantities of unwanted stock so the shareprice isn't trashed... id sack them!

[christy41] 10/4/2018 09:29

Finncap are house broker

[caters] 10/4/2018 09:20

Is that paid-for or independent research?

[currypasty] 10/4/2018 08:37

FinnCap sees massive upside

Analyst Jonathan Wright has a 43p price target for Europa, versus the current target price of 3.36p.

“Europa shares have been buffeted by frustrations with the UK planning process, as its Wressle development and Holmwood exploration well have both been held up by delays to application approvals.

“However, this has masked real progress offshore Ireland, where new and reprocessed seismic is expected to lead to increased prospectivity and reduced risk across its large exploration portfolio.”

Wright reckons Europa is set to relaunch its farm-out efforts for offshore Ireland in the next quarter, and, he highlighted that at least two wells could be drilled next year by third parties in the Atlantic

[tommy241] 09/4/2018 19:19

www.proactiveinvestors.co.uk/companies/news/194543/europa-oil-gas-in-the-spotlight-as-inishkea-is-promoted-to-flagship-project-194543.html

[farmscan] 09/4/2018 09:25

Bed and ISA?

[4sta] 09/4/2018 09:05

OUCH! Two huge sells there. Perhaps the Newlands changed their minds?

[dunderheed] 07/4/2018 09:44

Yep do you know what would be better though?
Perhaps some of the directors themselves could put their hands in their pockets for non discounted options or buy one get too free staff incentives.
Just an idea of course....