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

[jusmasel99] 01/8/2018 15:44

Well at least the councillors are aware that a new application for production has been submitted - easy to vote against today given that it has absolutely no effect on the outcome.

[currypasty] 01/8/2018 15:43

appeal will be first plan, which means they don't have to do anything till heard

[alanlinda] 01/8/2018 15:43

Planning Refused

[itsriskythat] 01/8/2018 15:42

As it has been refused, the best course of action is to take cover with Egdon, Europa and Union Jack until Egdon come forward with a response and their plan going forward. Hopefully soon.

[jusmasel99] 01/8/2018 15:38

If it has not been already - it is going to be refused - nutters ... hope Egdon announce immediate appeal straight to SoS

[jusmasel99] 01/8/2018 15:09

live updates on drillordrop now

just started hearing edr

[bountyhunter] 01/8/2018 15:04

signs good judging by share price recovery?

[jusmasel99] 01/8/2018 14:20

Yes - voted on immediately ...

[currypasty] 01/8/2018 14:20

I would think so

[bountyhunter] 01/8/2018 14:13

and is a decision expected today?

[currypasty] 01/8/2018 14:10

The meeting has started, 'major applications' are in front of the rest. There seems quite a lot to get through, so I would guess they will rattle off all the applications quickly, or run out of time..

[bountyhunter] 01/8/2018 13:35

when are we likely to know the decision?

[currypasty] 01/8/2018 13:01

I think there must be a few panicking shareholder flogging a few before the meeting later..
In my honest opinion, this application should, if common sense prevails, be passed. If not surely it will just be appealed?

[jusmasel99] 01/8/2018 12:54

Dreams do come true ... from 2014 ,,,....hxxps://www.albertaoilmagazine.com/2014/01/light-crude-discovery-newfoundland/

"Comparable in size to the Jeanne d’Arc Basin – which has been tested by 155 exploration and 55 development wells – the Flemish Pass Basin has been explored by just 10 wells to date. The Statoil-operated leases span 8,500 square kilometers, or roughly 75 per cent of the Flemish Pass Basin. The remainder of the basin is open Crown land, a portion of which will be publicly auctioned in 2014 by the C-NLOBP. In 2004, the C-NLOPB released a Flemish Pass Basin hydrocarbon resource assessment, calculating that it contained 1.7 billion barrels (at 50 per cent probability) with expected field sizes ranging from 44 million to 528 million barrels.

“The key to successful exploration is the presence of source rocks, and I believe that these basins are on the ‘Jurassic Superhighway’ that extends from Nova Scotia to the Grand Banks and the Flemish Pass, and across the Atlantic to the Irish Sea and the Porcupine Basin,” Enachescu says. The former Husky geophysicist, who has 30 years of experience in offshore Newfoundland exploration, adds that these discoveries “shine a new light on the potential of the Southeast Orphan and the Carson basins.”

And now from last week ...
hxxps://www.ctvnews.ca/business/n-l-announces-agreement-to-develop-deepwater-bay-du-nord-oil-project-1.4028841

Only 10 wells and all this 500km offshore (helicopters have to travel half full) in Iceberg infested waters and over 1000m deep .. makes the Porcupine sound like the Maldives

[currypasty] 01/8/2018 09:08

anyone going to the meeting

[aland1] 31/7/2018 17:29

I have just submitted my comments in favour of approval. Anyone interested in doing so has until the 16th August to do so. The more we can get to do this the better chance we have of gaining approval. You know you want to guys, as doing anything other than this could seriously damage your wealth! GL all. 👍

[currypasty] 31/7/2018 11:12

planners said the facilities and infrastructure currently on the site were not “highly intrusive” and did not have a “significantly detrimental impact on the character and appearance of the area”.

They concluded:


“Given the relatively modest duration of the proposed extension to the restoration period, the lack of demonstrable environmental harm as a result of this extension and the financial implications of potentially abortive work should the extension be denied, it is considered that, in this instance, there are material considerations which outweigh the identified policy conflicts.”

[itsriskythat] 31/7/2018 07:28

Predator RNS's today on a Corrib South exploration well in 2020

[rogerlin] 30/7/2018 15:18

Thanks Jus. As I understand it Inishkea is distinct from Corrib north and so perhaps it doesn't matter what that found anyway, except of course I suppose one of the main risks is that the reservoir is tight.

[jusmasel99] 30/7/2018 12:21

Spangle - happy to settle on the fact that 60p is irrational at this stage - none of us will still be here (including Hugh and his team) if we ever reach that level!

Rogerlin - pure speculation on my part but the well that is 18/20/-7 is a total enigma to me.

I think the gas column they 'found' was below the real target they were aiming for and the gas shows were of no relevance to them at that point because they hadn't mappped it on their seismic. They didn't find what they were looking for. BUT they went back twice to the same area - once for an environmental seabed study and once for more seismic. Hugh told me the additional seismic may have been for calibration purposes as it was part of the Corrib seismic survey prior to production but perhaps they wanted to understand better what they had found. Hugh reckons 40b which isn't much and not worth tapping into on its own but perhaps they were also looking 'underneath'. - extrapolating from what Vermillion has said about drilling deeper under Corrib. We'll know soon enough when that seismic is released into public domain later this year.

All this happened round about the time Shell did take the decision to pull out - the final nail in the coffing in their decision making process was the requirement to build a tunnel to the terminal which I think cost the partners an extra £100m

[rogerlin] 30/7/2018 11:38

Thanks for your encouraging update Jus.

"The Well penetrated a 70m gas column in the same Triassic sandstone reservoir as the Corrib field, but with lower porosity. The Well was not production tested, however there is good evidence on log data to suggest the presence of gas. The Well was terminated in the reservoir, meaning the gas column is a “gas down to”. Based on Europa’s mapping the Company believes that the full gas column may be some 170m thick. The surface area of the structure is some 5.75km2".

Re 18/20-7, I can't see that Shell would have terminated the well before reaching the bottom of the reservoir if they thought it was any good. They had not at that stage decided to sell out. Perhaps the porosity is not good enough?

[spangle93] 30/7/2018 11:21

Jus - without the report I'm speculating about any rational basis for 60p. But it would appear, based on most reports, that they would assign an NPV (or EMV for non-discoveries) to each prospect, ratioed down by EOG's equity.

So either they'd need money to preserve their equity share when any development prior to revenue takes place (= more shares), OR they'd farm down, as you say, which reduces their share of the pie (= less NPV). In either case NPV/share would be reduced.

It would be nice to dream of EOG being bought, but which company interested in Ireland would want the UK stuff, and the hassle of disposing of it. Not saying it couldn't happen, but I don't think anyone basing an offer for the company on the irish assets would offer a premium because of the onshore stuff.