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

[dunderheed] 02/11/2018 17:35

Well this should be corrected in rns then, regarding speculative press comment.

[jusmasel99] 02/11/2018 17:16

As I don't post on LSE anymore the answer they seem to want at the moment is that A drill in Inishkea can still happen next year if they get financial backing into the Irish subsidiary and go it alone. If they get a farm out presumably with change of operatorship then the earliest a drill can happen is 2020. Thanks to a fellow investor for that update from EOG. The reporter of the piece got his facts wrong.

[dunderheed] 01/11/2018 13:35

It's ok one of the best researchers on here has some 'friends' at Nexen.
I'm sure they will divulge any tight hole detail we would like to hear!!

[hermana3] 31/10/2018 16:17

Bob Hope and no Hope of a drill in 2019. Nexen and Providence will drill in Irish waters in 2019 and Nexen may not even update market on results as it is chickenfeed to them and Exxon.

[currypasty] 31/10/2018 16:08

RNS tomorrow then.. 'project update' blah blah, very very, bit of slippage

[itsriskythat] 31/10/2018 13:03

The press report contains price sensitive information.

Shouldn't be long before Europa issue an RNS to confirm or deny Hugh's statement. I wonder if the board are happy now to have to react to Hugh's loose tongue.

[currypasty] 31/10/2018 10:03

talk about jam tomorrow, we haven't even got the fruit and sugar yet

[guesswhosback2] 31/10/2018 09:48

These guys are on self destruct.

Surely such a statement should be RNS.

Whilst reading this it makes me realise that nothing that has been promised has come to fruition. We are constantly waiting for a dream to realise here and nothing ever comes. Failed on Holmwood, Wressel and now not drilling for at least a year. What are we doing then? Hoping for a fluke buy up from Vermillion.

I have a lot of money (relative) invested here, first at over 30p, which fortunately I took the loss on years ago against another oil win.

Hugh has been incredibly poor running this very quite and boring company, whilst at the same time taking a good salary.

Why are the investors just left waiting for a rabbit somewhere to miracle our money back. What ever you think about Jus, he stops me from giving up with his posts because actually, that's all I have to go on.

[greatfull dead] 31/10/2018 08:35

NAI and please DYOR.......

Look at Europa Metals.

ATB,
GD

[dunderheed] 31/10/2018 08:30

It's good to be right.

[currypasty] 31/10/2018 08:28

not really the headline we are after..


"Europa Oil and Gas has ruled out any prospect of drilling in Irish waters next year, but has said it is making significant progress towards drilling activity in 2020, including on its flagship gas project adjacent to the Corrib field off the west coast."

[jusmasel99] 31/10/2018 08:23

Rogerlin - yes Vermillion needs approval as an operator to take over the prospect. Maybe what is holding up the deal at the moment.

[jusmasel99] 31/10/2018 08:22

Must have been something I said! Now he needs an RNS to confirm that report as it is market significant. Oh dear ... not what I wanted to hear on two counts.

[rogerlin] 31/10/2018 08:12

Can't see any reason why Vermilion wouldn't farm in to Inishkea, just that they can't until the Shell sale is concluded.

[jusmasel99] 30/10/2018 15:31

Following on from that line of thought ... everybody likes the chance of a 10 bagger so surely if a drill is announced with finance the share price could reach 11.5p as the drill approaches. The FIs involved could hold it there and sell off quite a bit of their holding reducing their risk considerably.

[jusmasel99] 30/10/2018 15:26

I am having a bad day - not on the stock market - just life in general - so instead of buying a lottery ticket I decided to dream a little dream and the result is this drivel.

So we go it alone at Inishkea and the figures are on todays presentation.

We need £39m for a tested discovery well. So without going into detail that results in 1.3b shares at 4p

We discover 1TCF which is 300mmboe

Worth £5 a barrel as untapped reserves = £1.5 billion

Divide that by shares in issue = £1.15p each

That happens I am happy but is the risk reward attractive for the FIs? COS 35% Return 29 to 1 ???

When you wish upon a star ...... all this of course could happen next Summer!! and more to the point finance for the drill could be announced imminently ..

[jusmasel99] 30/10/2018 12:58

another bit of news coming our way soon should be the results of the clean up at West Firsby - increased production??

[bountyhunter] 30/10/2018 12:37

...am looking on the bright side here still, just ;)

[jusmasel99] 30/10/2018 11:50

Always look on the bright side - if you are as confident as I am that Wressle will go into production then the share price right now is a bargain. Sure we don't know how long that will take but worst case scenario with appeal surely sometime next year.

Other thing to remember about Wress;e is there is more to come there from developing the other pay zones as well Broughton North .. mmm.. maybe not Broughton North .. I think North Lincs council wins that one

[currypasty] 30/10/2018 11:38

presentation

[bountyhunter] 30/10/2018 10:56

...sounds more positive, maybe we will get some good news before the end of 2018, but this matter does seem to be dragging on forever with many of us no doubt having gone grey while waiting patiently for a return on our investments here!

[currypasty] 30/10/2018 08:55

Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas
exploration, development and production company, is pleased to announce that it
will be making a presentation at the Atlantic Ireland Conference in Dublin on
Tuesday, 30 October 2018. A copy of the presentation will be available on the
Company's website.




today...

[currypasty] 30/10/2018 08:23

At the Wressle project, in early July 2018 we announced the submission of a new planning application for the development of the oil discovery to North Lincolnshire Council ("NLC"). The Company strongly believes that the new application takes full account of the key findings of the Planning Inspector's decision to dismiss the Company's appeals as set out in his decision letter of 4 January 2018, which identified three key issues in his decision: the absence of a ground conditions survey report; the absence of sufficient evidence on the adequacy of the Geosynthetic Clay Liner (GCL) covering; and uncertainty with regards to the near surface geology, specifically the presence of capping layers to the underlying aquifers.

The first issue has been addressed by the production of an independent Ground Investigation Report using information gained from geotechnical site investigation boreholes drilled in Q1 2018.

The second issue has been addressed through the proposed reconfiguration of the wellsite to install a new high-density polyethylene (HDPE) impermeable membrane above the existing GCL, with additional associated protection layers across the entire wellsite. The specification of the HDPE impermeable membrane, associated protection layers and thickness and suitability of the stone covering layer, has been tested and validated in a laboratory, and agreed between the membrane manufacturer and Egdon's consulting civil and structural engineers.

The third issue has been addressed through an updated independent Hydrogeological and Flood Risk Assessment (HRA), which includes the results of samples tested from two deeper cored boreholes drilled in Q1 2018, which conclusively demonstrates the presence of laterally continuous capping layers to the underlying aquifers.

The proposed development incorporates high levels of embedded mitigation, the effectiveness of which will be verified by continuous monitoring of the nearby water and groundwater.

Egdon also plans to set up a community liaison group and a community fund to ensure the local community are kept fully informed and share in the benefits of the Wressle development.

Whilst we have increased our efforts to convince the members of the NLC Planning Committee of the clear merits of our new application, our recent experiences mean we remain fully prepared to take this new application through another appeal process. As the most recent example of their apparent intransigence, on 1 August 2018 the NLC Planning Committee refused our application to extend the existing consent for the Wressle site despite a recommendation for approval from their own professional planning officers. The reasons cited were conflicts with paragraph 205 of the National Planning Policy Framework and policy M21 of the North Lincolnshire Local Plan even though in his decision of January 2018 the Inspector found in Egdon's favour on our appeal against the same reasons. We have now submitted an appeal against this decision and await the timeline for the process. We anticipate the current application being heard by committee before the end of 2018.

Notwithstanding the issues experienced to date, and demonstrating our commitment to and confidence in the Wressle field development, in June 2018 we announced the acquisition of 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.