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

[christy41] 05/6/2018 14:23

Nothing new but this also from Malcy's blog

Much better news this morning from EOG as they announce a 93% increase in estimated combined gross mean un-risked prospective resources on FEL 3/13 to 2.9bn boe. This marked improvement comes following PSDM reprocessing of the 3D seismic acquired in 2013 and fully justifies its investment at the time. Next stop for EOG is to farm-out FEL 3/13 but not until work on licences FEL 2/13 and 1/17 have been brought up to the same level of evaluation as this one. Investing in EOG has always been for the long haul and today has moved that a small step in the right direction, there is still a long way to go but I assume that having got this far the management still see the sunlit uplands in the distance.

[jusmasel99] 05/6/2018 13:23

A quick summary of where we are for any new investors looking in:

a) UK Onshore Production of circa 90bpd keeps our head above water and covers our running costs

b) UK Onshore exploration hampered by local councillors meaning that Wressle discovered a few years ago needs to go through the whole planning process again before it comes in to production with corca 170bpd to EOG. News imminent on fresh application going in and I expect production to start early next year all being well.

c) Porcupine basin .. RNS today covers that .. and Hugh in his interview re-iterates a point I made in an earlier post about now is the time the majors who have licences alongside ours will be making their decisions based on their own prospects after 3D Seismic analysis. No timetable here but Nexen are planning to drill next year and I would imagine there will be more wells in 2020 of which we could be part of.

d) Corrib is the focus of my interest. It is an Absolute Necessity for Ireland to ensure that the life of Corrib is extended until they sort out any plans they might have for renewable energy. If we define a drillable prospect near Corrib then IT WILL BE DRILLED .. whether we start the ball rolling ourselves or get a partner on board. Hugh is very optimistic when he targets 1st May next year but it remains a possibility for next year. This has all the makings of JOG over again .. 5 to 10 bagger potential just on Corrib alone with the aforementioned UK Production offering a backstop on the risk. We were well above this Mcap when we didn't have Corrib and the OP was half of what it is now.

No brainer investment for someone with patience ...

[guesswhosback] 05/6/2018 12:20

A Good response to the news here today for as change.

Only need a bit of Wressel excitement and we will be back at the last placing price. New blood in the share price with the seller exiting.

Who knows, we may get some news soon on Corrib too.

[cheek212] 05/6/2018 10:47

Except maybe watching a share price jump dramatically!!!!

[currypasty] 05/6/2018 10:41

end of the interview.. 'nothing more exciting than drilling a well'

[currypasty] 05/6/2018 10:33

think they will get same transformational uplift in other prospects

[christy41] 05/6/2018 09:27

From Hugh on Proactive...

[currypasty] 05/6/2018 09:24

about time EOG had more institutional investor support, hope the oil conference drums up some interest

[dunderheed] 05/6/2018 09:08

Yep bh I've got a few here now.
Again could be like aex buying in spite of mgt not because and think I'm in slight loss over there now.
Excuse my absence from sqz, crazy busy with other stuff at moment.
Best of luck all.

[bountyhunter] 05/6/2018 09:02

nearly ditched this one! how things can change, almost in the black now

[dunderheed] 05/6/2018 08:59

@5.2 Rayrac?

[rayrac] 05/6/2018 08:48

Upped my holding.

[rayrac] 05/6/2018 08:26

Only doubles? You could go anyway!

[jusmasel99] 05/6/2018 08:22

Kind of rules me out there CP unless one of two things happen ..

a) The share price doubles from here then I can go as a High Net Worth

or

b) The share price halves then I could go as an 'Institutionalised' Investor

;-)

[rayrac] 05/6/2018 08:20

But it’s the bid situation/potential for me.

[rayrac] 05/6/2018 08:19

150bpd = around $3.8m year? Depending on brent @ $70bll

[currypasty] 05/6/2018 08:18

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anyone going ?

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[jusmasel99] 05/6/2018 08:15

APF - the next drill would probably be Holmwood which is fully covered by Farm Ins but they are also actively planning an exploration well in our Corrib Licence. Planning approval for Wressle will be due in a couple of months as well.

[currypasty] 05/6/2018 08:13

Drilling...Ireland next year, farm out to bigger player pays, we should get free ride..imho

[jusmasel99] 05/6/2018 08:13

Mr CP - I think the price sensitive news must relate to Corrib .. it is surely linked to the appointment of the two directors in January and the one thing we do know is that Vermillion cannot release any news about that until they are appointed operator which they hope will happen by the end of this month.

[apfindley] 05/6/2018 08:10

When are they drilling? And where's the money coming from to drill?

[currypasty] 05/6/2018 08:07

IMO we will either see some director buys now this rns is out, or there is still some price sensitive news they arn't telling.

[jusmasel99] 05/6/2018 08:05

The RNS from UJO et al yesterday confirmed that Egdon are confident that the new planning application will succeed for Wressle ... 150bpd for EOG when it comes on stream .. with hindsight the delays in planning have been extremely lucky for us - with UPL backing out and the OP getting higher and higher ..

Personally I think Holmwood is now a complete distraction and we should get rid of it quickly while their is still interest in the Weald.

This little £12m company sitting on billion and billions of oil and gas ....... Love It .. just love it ...