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

[dunderheed] 07/12/2018 11:42

gclark agree re POO and oil companies drilling in the BODS chosen area to GAMBLE all our funds for the last few years?
This gamble could pay off but I didn't originally choose to invest in what could be a binary play now?
We pay the BOD to risk mitigate against the POO and whether or not oil companies have chosen to drill in our area of exploration so therefore YES I do think they need to shoulder a lot of the blame for why the share price is currently languishing so low - but that is only my opinion and you are perfectly entitled to yours buddy!!

To answer Jus's point re if the 'major' is not registered operator in Ireland , I assume they are in a lot of other regions, by virtue of being a major and hence shouldn't be too difficult to get that arranged relatively quickly - especially if they are going to potentially drill at least 3 exploration wells - so not sure that logic necessarily follows however for sure, if they want to be drilling in 2020 we need to be surveying in early 2019 anyway!

Best of luck all and as ever all imho!

[gclark] 07/12/2018 11:07

This is a risky business, slightly unfair to blame the management all the time. There may be things that could have been done better, but things take time, they aren't responsible for the POO, or for the majors' decisions on where to drill or for councillors' decisions.
Inishkea sounds a good reason to invest for me.

And buying in the offer, as well as in the market, gives the company more cash to do things - it wasn't a lot of money from me, but it all makes a little difference. After all, it is in our interests for them to have money to do things.


As has been said, the IIs must have put their teams on evaluating the possibilities and found them worth investing in. So now I hope for news within the first months of 2019. Hopefully ...

[jusmasel99] 07/12/2018 10:40

sorry there should be a 'quarter' in between extra and million

[jusmasel99] 07/12/2018 10:39

I bought an extra million in the market below the placing price. In between the placing news we had news from Wressle which no doubt knocked back the share price plus a drop in the OP.

I can't imagine anybody investing £4m in EOG without some appreciation of what is likely to transpire shortly.

Interesting looking back at the investor presentation in Dublin and comparing that to the news of the potential farm in a few days later. Then he was talking of (had to probably) opening the Inishkea Data Room in January which is now clearly shut until we hear of the take up or not.

But there is also a little clue in the placing as well - note that the open offer subscriptions might be used for additional site surveys on the Licences which are under consideration. I think that might be an indication that the potential farminee has not got a position in Ireland as of yet and will need to get an operators licence before assuming control.

[guesswhosback2] 07/12/2018 10:13

Well, many reasons not too based on past performance but you would like to think that institutional investment has arrived on the basis of information that we never get to see?

I cannot see anyone investing otherwise. Equally they are getting in at half the price of the last offer, at which time Hugh and others put their money in.

On that basis, I would rather not sell but wait for the mentioned farm ins and such like. Im not holding my breath but Im not investing any more either.

[enfranglais] 07/12/2018 10:08

clark - More like a NAG or betting on a pony in the Grand National?
Did not take up my entitlement, so it seems i am in the majority (70%), who have lost faith with the management but good luck to you!!!!!!Most could have bought for a fraction less in the open market just before offer closed, so did not see any reason to accept the offer - good money after bad?

[currypasty] 07/12/2018 09:13

We will see how many shares the directors bought on Monday

"admission of the 9,969,882 Open Offer Shares will become effective at 8.00 a.m. on 10 December 2018"

[gclark] 07/12/2018 08:56

I applied for some in the offer and the extra entitlement. So they have £4.3m gross raised.
Now we need to see these opportunities make progress …
More than other shares, this is like betting on a horse

[dunderheed] 07/12/2018 07:38

Yep I wonder (this time) what soothing words Hugh has been whispering into the mgt stooges who follow and research eog so diligently.

Where on Earth is this farm out?
Not a mention of this in this rns which would have been nice to see?

All imho of course.

[hermana3] 07/12/2018 07:30

Ooops not much of a take up! Hughie better get a farmout announced toute suite to avoid mutiny....

[pugugly] 07/12/2018 07:22

"The Open Offer closed for acceptances at 11.00 a.m. on 6 December 2018. The Company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 9,969,882 Open Offer Shares, including applications for 3,863,166 Open Offer Shares under the Excess Application Facility. This represents 29.77 per cent. of the maximum Open Offer Shares available under the Open Offer. "

A very clear message from existing shareholders - This is toast - Cut your losses and get out - Market situation not improved by falling POO and Nimbyism in respect of exploratory and producing wells in UK mainland.

[dunderheed] 07/12/2018 07:10

I think these results indicate small share owners "happiness" with how these assets have been "managed".

Very embarrassing but I'm sure the "new guys" will be able to give a pompous arrogant view on this, lol.

[jusmasel99] 06/12/2018 07:45

Thnanks for the link John0 interesting development ..

From Predator RNS this morning (below) you would think that if Vermilion news was worthy of comment to their shareholders then news of Europa planning a similar well (AND getting the only mention from Vermilion) would be worth commenting on as well - as far as I know they still haven't received the 3D seismic let alone reprocess it. I guess that's their problem but just as I comment on PRD here you would thing PRD shareholders would comment on EOG on their boards?

Related Corporate Activity

The Company noted the recent announcement by the incoming operator of the Corrib gas field ("Corrib"), Vermilion, confirming the completion of the sale of Shell's 45% interest in Corrib for approximately $1.3billion to Nephin Energy Holdings Limited and the transfer of operatorship to Vermilion. Predator further noted the recent press article in the Irish Independent stating that Vermilion has outlined plans to expand the project and in addition that it would look to do deals with other oil and gas companies exploring in the waters around Corrib, either by allowing those companies to use Corrib Infrastructure to transport gas, or by buying stakes in those companies.

The announcement validates Predator's business model in relation to focussing solely on gas in Ireland and only in those areas where gas production has already established offshore and onshore infrastructure.

Predator therefore is accelerating its ongoing discussions with potential partners interested in the Company's Irish portfolio during January with a view to combining its assets in a substantive low risk drilling and re-entry programme in 2020 to target potentially material gas resources.

[johno99] 05/12/2018 20:31

Interesting, Seapulse stated they are going to be drilling a well in ireland in the next 2 years. Farmed into 11 licences globally.

[rayrac] 05/12/2018 10:36

Did hold these for a while, but it never come to anything. I lost interest and patience. No good telling us what they’ve got if they never get it?
Been promising partners for ever, but where are they!

[dunderheed] 05/12/2018 09:11

I think that's a little unfair CP tbh they have only really exhibited this aim behaviour recently with Hugh (et al) and his blue sky dreams.
Here's hoping 'his' gamble pays off.
Certainly wasn't mine when I bought shares here!

C'est la vie and as ever all imho and dyor all!

[dunderheed] 04/12/2018 12:11

Yes I had to laugh, there is almost an 'air' of us share holders being so 'lucky' (and priviliged) to employ these guys?!

[itsriskythat] 04/12/2018 09:23

Spotted that comment too, shows he's completely out of touch with shareholders.

[currypasty] 04/12/2018 08:13

yipeee jam in a few years

"By next year's AGM Statement, I
am confident Europa will not only have a clear line of sight towards the
drilling of at least one potentially transformational well offshore Ireland,
but also have a portfolio of assets in at least three jurisdictions"

[jusmasel99] 04/12/2018 06:23

Just accentuating the positive here (for the life of me I can't understand the comments on the LSE board - if I had a look at them as a potential new investor I would move on in a hurry)

a) There will be no data room for Inishkea open for business until such time as the farm in is confirmed or denied.

b) The potential farm in partner has clearly seen something they like in the three licences so that firms up Inishkea as a real prospect regardless of what happens with the farm in (i.e. the board approval required may be rejected for other reasons such as CAPEX strategy/budget)

c) The potential farm in partner (and EOG) clearly recognise the current delays in processing applications through DCCAE and that is why EOG are having to fund on going work at Inishkea like the site survey. By the time the farm in is approved the new partner will still be in a position to drill in 2020 (by the way that is exactly why there were always two dates 2019/2020 for drilling)

d) Given the current climate in the junior E&P sector, at least two Institutional Investors liked what they saw at EOG enough to invest a couple of million.

e) First mover status at Corrib is a great bonus as it will deter investment in competitor licences in the area.

and finally - the news of the farm in is coming soon - it will be announced one way or another and of course it could be bad news but the indications are extremely positive for good news. As I said above they liked what they have seen and that is all we need to know at the moment.

[joestalin] 03/12/2018 14:12

Yes - this "12 years" is taken as fact but nobody knows why.

We will regret trashing the UK Onshore Oil and Gas exploration industry.

[jusmasel99] 03/12/2018 11:50

GWB There is a quote in the Vermilion Webcast that holds good = we are in a period/era of energy evolution = and that ain't Hugh's fault. Holmwood wasn't his fault and I consider the whole of UK Onshore OIl and Gas exploration non investable due to the current climate which isn't going to get any better. While the protestors doth protest too much the reality is that for the interim period between carbon and renewables, gas is the preferred partner and the relevance of increasing the longevity of the Corrib plant is beooming more and more important. All EOG needs is to get to a spud date on Inishkea - for holders now at this share price that represents a significant multibagger opportunity which is the life blood of the AIM PIs ..

[guesswhosback2] 03/12/2018 09:49

Curry thats a funny post but actually it rings true. They have failed so far at everything apart from getting the share price down. Literally zero returns for any investor for years. I have to keep trading down to hope that one day I will get my average price to choose my exit.I have bought below the 3p price.

Im certainly not in love with this share!

Actually one edit they did get a drill on Dromberg away last year and Wressell cannot be pinned on them for failure.