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

[bountyhunter] 04/2/2019 21:31

I've changed my mind, I'll go for Nexen!

"Chinese-backed explorer Nexen is due to drill off the south-west coast next year, while Providence Resources — and its newly found Chinese development partners — will start a multi-well drilling round at the Barryroe field in the Celtic Sea. British explorer Europa Oil and Gas is eyeing drilling activity in 2020 in both the Porcupine Basin, off the south-west coast, as well as further north near the Corrib field, and is bullish about its chances of being a major contributor to Irish gas requirements in the coming years."

[bountyhunter] 04/2/2019 21:23

..or European!

and probably not a Japanese company either lol!
..or maybe it is and they are about to do a Nissan on us!?!

The US and Canada are reasonably UK friendly so I'll go for one of their majors? Which of those are already active in the vicinity?

[fardels bear] 04/2/2019 21:20

What due to Brexit uncertainty?

[bountyhunter] 04/2/2019 21:16

Not likely to be a UK based company or their head office would be within the NW Europe Division.

[bountyhunter] 04/2/2019 21:14

This was three weeks ago now, I wonder how long before we here any more?

"As investors are aware, the Company is currently negotiating farm-in agreements with a major international oil and gas company in respect of LO 16/20, FEL 1/17 and FEL 3/13. We have agreed terms with their NW Europe division and continue to await a final investment decision from their head office."

[guesswhosback2] 04/2/2019 20:29

You would think Hugh would know. Maybe he worked his magic and got them out at a good price. You know how clever he is. Good news due this year?

[currypasty] 04/2/2019 18:04

and Hugh was so pleased that the recent placing was taken up by institutions (see link to proactive interview a few days ago)... and not those pesky PI's



what he should know is that PI's don't usually sell at a loss, they hang on, where as Institutions don't give a toss and dump large sells on the MM's at whatever price


edit, here it is..

[itsriskythat] 04/2/2019 17:51

A trade of that size sends out a signal of the wrong kind

[currypasty] 04/2/2019 17:35

ouch 2.25p 5m dump

[itsriskythat] 04/2/2019 15:17

Maybe the EOG drop is due to forced selling after the ANGS RNS?

[suetballs] 04/2/2019 14:45

sp is dismal. Losing the will to live here!
Suet

[funtimejonny] 03/2/2019 07:25

Yeah.IOG is one that I hold as well. Bought in when the price halved just recently. Will keep EOG on watch for now.

[bountyhunter] 02/2/2019 16:20

I've been tracking EOG and CLNR for a long time now, both have been droning on about potential farmouts for as long as I can remember, but it is beginning to look as though CLNR may come in first now judging by the recent RNS and share price rise, although there is still time for that to go pear shaped so I had better not count my barrels just yet! IOG is another frustrating one to watch and anything could happen there, although I did manage to trade that one for a small profit although I must confess more by luck than judgement!

[funtimejonny] 02/2/2019 16:08

I am careful FB.I'm going to have a good butchers at the accounts over the weekend. In particular...how much money is left in the pot after paying for the surveys? This will be the year when I make no bum investments (all going well). Off to watch the 6 nations just now.

[fardels bear] 02/2/2019 15:56

Now now, FTJ, a whole grand, you'll be in cahoots with old Pap if you're not careful.

[funtimejonny] 02/2/2019 11:56

Fair enough!

[dunderheed] 02/2/2019 11:10

Sounds like a (sensible) plan matey - but don't forget I am certainly not qualified to give any investment advice!!

[funtimejonny] 02/2/2019 10:47

Thanks for your reply dh. I'm thinking maybe take a small position here so it doesn't weigh down my portfolio too much. Perhaps around £1k initially and see how it goes. Can always add later if things develop well, and still have a reasonably low average price.

[dunderheed] 02/2/2019 10:40

Funtime - I've lost count of the number of times I've chatted with well qualified mates who always reply back to me with a wry smile - "oh right ...so EOG have stolen a march on the market... again!!"

Maybe at last they have, Hugh has been plugging these 100% certainty world class assets for what - the last 5 years - so maybe not - these current three farm out deals do seem to be taking a long time now though - so you takes your bets!

What concerns me was absolutely no mention of these in his last "sales" video and still no mention of the CNE farm in - CNE are sharp and quick, generally speaking - so why aren't they commenting on these assets in any of their updates?
These certainly have a place in a well balanced portfolio as could be relatively large upside from here, however seem to be extremely high risk now?
All imho and as ever dyor of course.

[funtimejonny] 02/2/2019 09:42

I've had this one on my watchlist for a while....but the annual accounts don't make very palatable reading. It looks like a binary bet on securing a farm in on the Irish licences from where I am standing. What does anybody else think of the prospects here. I am averse to losing money.

[currypasty] 01/2/2019 11:40

"The exploration company behind failed plans to drill for oil near Leith Hill in the Surrey Hills has announced an annual loss of £2.88m. This is up from a loss of £721,000 in the previous 12 months.

Annual accounts for Europa Oil and Gas Ltd, published by Companies House today, take into account the cost of £1,145,000: the company’s share of obtaining permission to drill at the site at Bury Hill Wood."

[fardels bear] 31/1/2019 09:54

I first bought in here in 2008.. Never made a bean.

[dunderheed] 31/1/2019 09:16

Absolutely agree roger.
This probably will come good but there are other assets vying for such potential tie ins as well.
Jussy was saying this was a 100% sure thing done deal 6 months ago (further inferring non director buys justifying/ strengthening this opinion?!) and I feel very much for anyone who had bought in on this sure fire certainty then, as the share price has since halved. When I cautioned on time lines quoted I was accused of posting drivel.

We already have one non approved offer for which we are waiting supposed BOD approval (why BOD why not just appropriate senior mgt. Perhaps a new country entry?) but again if we are in non competitive bidding situation this does not bode well for our bargaining position.
Time will tell and until we hear that the three farm ins have fallen through, each day that passes is hopefully a day nearer to the successful conclusion of this?!
Best of luck all and as ever all imho.

[rogerlin] 31/1/2019 08:39

"Sources said that three partners behind the field – Shell, Norwegian oil and gas group Statoil and Canada’s Vermilion Energy – had invested almost €4.3 billion in the project".

The investment in Corrib was large and so it seems likely that anything within tie back distance will eventually be exploited, surely Vermilion and Equinor have the most to gain from this.