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

[currypasty] 30/10/2019 16:14

British exploration company Europa Oil and Gas, , which has six licences off the west coast of Ireland, used the conference to announce that it hopes to conduct a site survey of its flagship Inishkea gas prospect, near the Corrib field, next summer, with a view to drilling during 2021.

Farmout talks, with numerous interested parties, are ongoing, the company said. Last month, Europa’s chief executive Hugh Mackay said that he was confident of finalising a development partner for the company’s Irish assets before the end of the year.

[joestalin] 29/10/2019 15:31

Tree shake?

Hard to think of any other reason.

[4sta] 29/10/2019 15:25

About £2500.00's worth of sells more than buys today and the mm's mark it down 12.5%?? That equates to over a million pounds off the market capitalisation of the company - crazy.

[itr7] 29/10/2019 13:23

Down 10% but look at the volume, which equates to a very low notional £ traded, and when dealing with such a small share price the volatility is always higher. This share is very illiquid at this price so you will get large relative changes in px for small moves in trading.

Have held this for some time. See it as a relatively cheap option at this point which will either pay off big or they will run out of cash.

[dunderheed] 29/10/2019 08:39

People probably expected more from the presentation at this upcoming conference.
This looks like a Hughie again but I suppose and hope the "subtle" (lol) change in wording is more than that.
All imho and dyor.

[currypasty] 29/10/2019 08:14

down 10% !

[jusmasel99] 29/10/2019 07:28

I think a very significant update on the farm out negotiations this morning from Hugh. He has never expanded on the farm out before on RNS published because of other events.

My gut feeling is that we are now in final negotiations with a consortium and that will include a contingent supply agreement with Vermilion and Nephin.

All in my opinion and I could very well be wrong but I hope not.

[tommy241] 28/10/2019 20:12

Looks like another large delayed buy appeared from Friday

[jusmasel99] 28/10/2019 07:11

Major Gas find announced this morning in Mauritania by our former partner Kosmos. I wonder if there is any geological link to our brand new offshore Moroccan assets?

Only a week to go for the Wressle planning inquiry which was receiving a lot of attention on twitter over the weekend.

[jusmasel99] 26/10/2019 12:52

It is too soon to write off the Offshore Oil Industry I agree but in my personal timeframe I need an earlier return on my investment in EOG now. A £10m Mcap company with a fully carried 15 to 25 percent of a drill into a 1.5TCF target at Inishkea sounds good to me. If we get the timing right and get the share price lifted by Wressle first then the Inishkea farm out I would say a £25m to £50m Mcap is easily justifiable on the AIM Casino. That is 6p to 12p from here.

EOG have been desperately unlucky these last few years with Holmwood, Wressle and now a further delay via DCCAE approving the Site Surveys. CNOOC interestingly enough seem to have given up on the site survey application for their licence next to Corrib despite having hired 2 people this Summer to deal specifically with that process. Perhaps they are just waiting for all the others to get their applications approved then cut and paste from their submissions. Puts EOG first in line though for a well that could deliver all Corrib needs for the next 5 years or so.

I am sure we will hear something soon enough.

[hashertu] 26/10/2019 11:59

Jus. Posts 4178/79 on the Steelwatch HUR thread are interesting.
It might be that there is indigestion in the offshore market coming up.

[rederic1] 26/10/2019 11:42

Helpful update, Jus, thank you

[dunderheed] 26/10/2019 09:29

Ffs how many times...
BDN isn't that great in first place.
Just because there is a play "over there" does not necessarily mean there is a "symmetric play" this side.
In which case so far, the opposite seems to be true!!
Just because there are big players in territory doesn't mean our blocks are "gold". In fact the converse argument is "why havnae they farmed in, if so compelling"?!
Whilst we have great quality neighbours in play, the risk is that is all they are, great neighbours.
IMHO the upside here is Wressle and Inishkea.
Let's have some action on Inishkea (latest flagship Hughie) before more talk on other Irish assets.
Best of luck all and as ever IMHO.
To be clear I 'may' buy a few more here but based simply on possible Inishkea (still not super certain on that) and Wressle so dont want people saying later, "oh he's been talking down the company whilst buying more"!!

[guesswhosback2] 25/10/2019 17:46

Nice update Jus thank you

[jusmasel99] 25/10/2019 17:21

Had some feedback from PIP regarding the Atlantic Ireland conference next week. Hugh will be presenting on the Eastern Flank potential of the Porcupine and also Exxon Mobil will be updating the conference with 'insights' from the Porcupine. Most interesting is the presentation from Equinor on the southern porcupine. We haven't heard much from them on Ireland as yet but remember they are leading the way in Bay du Nord off Canada which led to the increased interest in the Porcupine in the first place. EOG standing alongside all the big boys - Exxon, Equinor, CNOOC! Don't see ENI involved anywhere so maybe they aren't the interested major after all.

[guesswhosback2] 25/10/2019 11:21

Well if all that is likely no wonder someone is buying. Another tick up.

[jusmasel99] 25/10/2019 10:54

I wonder if there will be any news coming out of the Atlantic Ireland conference next week? I would assume that CNOOC won't be able to keep details of Iolar to themselves even if it is in private discussion. They will certainly be discussing the nonsense going on around the consultation process at the moment with DCCAE.

Great platform to announce the farm in to Inishkea! Surely a certainty that the mysterious oil major will be in attendance as will Hugh.

[guesswhosback2] 25/10/2019 10:25

Jus. Good point. It will also generate a good income if not so not the worst news to come!

Price continues to tick up. Not much stock around.

[jusmasel99] 25/10/2019 10:02

GWB not suggesting they sell straight away but useful to have it in reserve for future funding. We sold 10% to Upland for 1.85m when the Oil Price was $45 - now steady? at $60 so looking at 2.5 million for same percentage.

[guesswhosback2] 25/10/2019 09:48

Yes decent buying clearing out stale bulls. Wressel should get us all out, well those around 6p I guess.

[currypasty] 25/10/2019 09:18

lots of buys and a tick up or two... a very long way to go yet though

[guesswhosback2] 25/10/2019 09:15

I guess they might make a payout if they did? They hold a good % ?

[dunderheed] 25/10/2019 08:41

Great idea - let's sell it like the rest of our assets and chase even more G&G dreams.