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

[currypasty] 05/6/2018 08:03

thanks, itsrisky,





Oil Capital is the leading investor conference that unites the City’s Oil investors with management from some of the most exciting and fastest-growing oil & gas companies. Oil Capital is now firmly established as the largest oil & gas investor conference in the UK and is hosted at: The Brewery (52 Chiswell St, EC1Y 4SD). Oil Capital is institutionally focussed and is aimed at asset managers, private client brokers, family offices, and wealth managers. It is also open to the high net worth community.

[itsriskythat] 05/6/2018 07:58

Seriously the marketing continues at Oil Capital on the 14th

[itsriskythat] 05/6/2018 07:57

Game afoot methinks ... woaahh!

[rayrac] 05/6/2018 07:56

I think this is a very decent hold and allied to this, it is even more so....

Egdon Resources U.K. Limited (Operator) 30.00%
Europa Oil and Gas plc 30.00%
Union Jack Oil Plc 27.50%
Humber Oil & Gas Limited 12.50%

Wressle!

[jusmasel99] 05/6/2018 07:54

In January EOG appointed two new directors one of which became Chairman. Both actively involved in the original Corrib discovery. Since then there have been NO DIRECTOR BUYS AT ALL .. not even from the existing directors. Options for all the directors are priced in at about 10p ... surely significant given that the current share price is depressed because of probably only one significant seller since then.. The game is afoot methinks ...

[currypasty] 05/6/2018 07:35

The
farm-out data room for all three Europa-operated South Porcupine licences will
open during mid-2018.

[jusmasel99] 05/6/2018 07:29

I can hear cries of 'Same Old ... Same Old...' from the myriad of pessimists on this board but there is now a very important difference with the release of this new CPR on our 100% owned FELs.

The majors who entered into the Porcupine in the last licencing round will have now processed the seismic they acquired last year and before. Any drill decision they make will have to be after they compare their prospects with ours. With a 1ikely 15% carry on an exploration well as the cost for a farm in their prospects will have to be slightly better than our to make it worth their while to ignore us.

It is fast approaching make your mind up time in the Porcupine .. Oil prices on the rise as well as Rig Rates .. if the majors are going to explore further now is the time to acquire the acreage they need ... and we have it.

Hugh says the data room isn't open yet .. maybe so but if one of the big boys wants a look now I doubt he will say no ..

[volkswag] 04/6/2018 08:30

Not surprisingly Union Jack Oil also have a RNS today regarding Wressle but todate Europa don't - perhaps one to follow eg we note etc.What is interesting is the following extract from the UJO RNS.'New Wressle Field Development ApplicationAn application to extend the existing planning consent for a further year was submitted to the North Lincolnshire Council on 13 April 2018.In respect of a revised Wressle Field Development application, since January 2018, the operator has drilled two deeper cored groundwater boreholes in addition to the investigation boreholes previously drilled. The data from these operations is being used to support the new application which will contain a revised site design and hydrological risk assessment. The operator has received and integrated results of the positive hydraulic conductivity tests executed on the core samples. The new Wressle Field Development application will be submitted in June 2018.'

[jusmasel99] 04/6/2018 07:50

Celtique winding up? but further confirmation that Wressle will certainly be approved for production in due course. I recently went over the inspector's decision paper again and I can see nothing in it that cannot be covered by a new application (and nothing that could not have been covered by approved conditions). I would be mindful though of the whole palaver and the precedent it sets for further applications.

[currypasty] 04/6/2018 07:18

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of an additional 5% interest in PEDL180 and PEDL182, which contain the Egdon operated Wressle oil discovery and Broughton North Prospect, from Celtique Energie Petroleum Limited.

Under the terms of the agreement Egdon will acquire an additional 5% interest in PEDL180 and PEDL182 from Celtique Energie Petroleum Limited for a deferred cash consideration of GBP0.417m payable on commencement of production ("First Oil"). The effective date for the transaction is 1 January 2018.

Union Jack Oil PLC ("UJO", AIM: UJO) and Humber Oil & Gas Limited ("Humber", private) will each also acquire 12.50% in both PEDL180 and PEDL182 from Celtique Energie Petroleum Limited on the same terms under separate deals.

Egdon will shortly submit a new planning application for the Wressle development which has the benefit of information from additional site investigation boreholes and two deeper cored boreholes to ensure it addresses in detail the matters highlighted by the Inspector in his Decision Notice to refuse the planning appeals in January 2018. An application to extend the current planning consent for the Wressle site was submitted on 13 April 2018.

The transaction is subject to approval from the Oil and Gas Authority. On completion, the interests in PEDL180 and 182 will become

Egdon Resources U.K. Limited (Operator) 30.00%
Europa Oil and Gas plc 30.00%
Union Jack Oil Plc 27.50%
Humber Oil & Gas Limited 12.50%

[jusmasel99] 31/5/2018 18:06

Predator are planning for 2020 - EOG for 2019 dependent on Seismic interpretation results. I think Predator added a great piece to the jigsaw in that a well will only be drilled with a production agreement with Vermillion and Vermillion aren't approved as the operator yet so Hush Hush. Remember also we have Nexen and Faroe to the North but that is not to say more than one discovery will be used to extend the life of Corrib.

Nice to know that Vermillion are/were our partners already and our new directors were an integral part of the Corrib discovery. With all this activity going on around Corrib very interesting that they chose to join up with EOG. Many posts ago a theorised that Vermillion and EOG were already up to something in the licencing round as Vermillion couldn't apply because they were not an approved operator.

I am getting quite excited about all of this ...

[currypasty] 31/5/2018 16:24

11:07 24 May 2018
Europa Oil & Gas (Holdings) PLC's (LON:EOG) Hugh Mackay tells Proactive that the company has elected to relinquish its LO16/21 license off the west coast of Ireland to focus on the LO16/20 gas prospects at Inishkea.

Mackay adds that shift in focus is toward a lower risk play, with an exploration well having a target spud date of 1 June 2019.

Europa is also "punching above its weight" in the region, standing equal to other regional players such as Exxon Mobil and StatOil, Mackay says.

[bountyhunter] 31/5/2018 16:11

Dh, I got 2020 from post 7141 but not checked further so maybe that is incorrect? I'd be more than happy for it to be a year earlier.

[dunderheed] 31/5/2018 15:56

7147 it would seem incomparable 'mgt' teams as Well? Imho of course.

[4sta] 31/5/2018 15:35

EDR are hoping to start the Biscathorpe drill with UJO around the middle of this year so it isn't that far off. This is probably why they are going up but Europa are not. We need some action rather than just updates on our prospects, something to create a little bit of hope and excitement.

[currypasty] 31/5/2018 15:08

EOG v EDR any explanation ???

[currypasty] 31/5/2018 12:36

'drill June 2019' is what he said

[dunderheed] 31/5/2018 12:33

bh I thought Hugh was talking well (drill ready) in 2019?
Correct me if wrong please?

[bountyhunter] 31/5/2018 11:52

...should have said to realise full potential if there is a successful drill in 2020

[jusmasel99] 31/5/2018 11:39

Don't think so ... matter of weeks now ... Predator confirming that there will be lots of newsflow once Vermillion take over as operator. Got to be in it to win it.

Quick comparison ... Predator and EOG both have wells previosuly drilled on their licences .. both of ours found gas .. Predators was dry .. to the south of Corrib there is oil to the north there is more gas ...

[bountyhunter] 31/5/2018 11:30

cheers Jus, maybe I'll hang on here a little longer!
...may have to be a year or two though after reading that

[jusmasel99] 31/5/2018 09:56

and more from an interview with the Predator MD ....

In Ireland, the first step is basically to progress to the next stage in negotiating and obtaining the successful authorisation which would be Frontier Exploration Licence, which would be subject obviously to regulatory approval.
From that, we would move on to open our discussions and continue our negotiations with the new Corrib gas field operator and as you know, that’s still awaiting approval from the regulatory authorities, as far as I understand, the transfer of the operatorship from Shell. The reason for that is because ahead of any drilling commitment, we would want to negotiate a time and tariff agreement before we spent high-risk money drilling a well basically, that’s just a natural commercial thing that most people would attempt to do.
Lastly, and most importantly, over the next 6 months we will be establishing the drilling consortium to drill this prospect, no earlier than 2020 unfortunately, that’s the time you need effectively to plan and execute wells these days. The types of parties we have, already having discussion with, are basically a mix of private equity engineering companies and oil majors and the reason why the project is attractive, in terms of these entities, is that they’re looking at the overall project, in a success case, of it being able to tie-back and monetised gas through the Corrib infrastructure very quickly and that makes it a completely different style of farm-out partnership, if you like, to the normal conventional farm-out where you’re farming out for high-risk exploration wells or appraisal wells. So, that allows us to have a broader audience for potential participation in this.

[currypasty] 31/5/2018 09:37

thanks for that Jus, looking good for some action one way or another