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

[tommy241] 07/9/2021 13:27

Just rewatched this interview, certainly sounds like plenty of positive news flow to follow for EOG

[likeawalrus] 07/9/2021 11:36

lse up and running

[likeawalrus] 07/9/2021 11:34

short term I think the eog share price will benefit more than ujo when they announce the flow rate, all being well it's should be a win/win

[currypasty] 07/9/2021 11:28

Personally I think they already have a decent stable flow, just letting it clean up more.

I also think UJO results first, as they are quite historic now, and will only have a few months at 100+ bopd (40 net to them).

[likeawalrus] 07/9/2021 11:25

yup hopefully ujo will enlighten us, perhaps they will delay the trading update until they have stabilised the flow, not sure how long that will take though, any thoughts?

[currypasty] 07/9/2021 11:20

UJO results, IMHO, before that.. later this week, or next ? Will have to mention Wressle, surely


GP2, EDR also have the 1 million loan from UJO

[likeawalrus] 07/9/2021 11:19

about 5 weeks until the year end results (31.07.21), hopefully the 'post reporting' statement will show some very healthy income from Wressle

[greypanther2] 07/9/2021 09:44

Calmar LP apparently replaced Celtique some time after they (Celtique) gave up most /?all of their UK licences. I think they are owed money by both UJO and Egdon, but not by us.

[currypasty] 07/9/2021 09:26

A Deferred Consideration of GBP1,040,000 to be paid to Calmar LP on "first commercial oil"





8/5/20 RNS of additional Wressle interest UJO were already liable for 1m for a previous acquisition of Wressle.

[guesswhosback2] 07/9/2021 09:06

Sorry GP2 I did mean in total. That aside, who are Calmar?

[guesswhosback2] 07/9/2021 09:05

Sorry GP2 I did mean in total. That aside, who are Calmar?

[currypasty] 07/9/2021 09:01

GP2, I think he means 150 bopd from Wressle, plus approx. 50 bopd from our other projects as listed in the latest results, to give OVER 200 bopd total.

[greypanther2] 07/9/2021 08:56

Hi Guesswhosback2 "200 x $75 x 365 = $5.5m PA" wouldn't be unreasonable if our Wressle interest was 40% and we were to get 365 days production each year. But unfortunately our Wressle interest is only 30% so, even with 365 days /year, our gross revenue from Wressle might be about $4.1 / £3.0 million / year. But at least we don't owe Calmar about £2 million, unlike UJO.

[christy41] 07/9/2021 08:22

Certainly lots appearing now in mainstream media about shortages

[guesswhosback2] 06/9/2021 18:24

Simon Oddie, CEO of Europa, said: "Achieving the targeted 500 barrels of oil per day production rate at Wressle is an excellent outcome, following the successful proppant squeeze operation at the Wressle-1 well. While oil production will be optimised in the coming weeks as the reservoir continues to clean-up, a gross rate of 500 bopd at Wressle more than doubles Europa's existing UK onshore production to over 200 bopd. At current oil prices of over US$65 per barrel, this step-up in net production will transform Europa's financial profile and in turn provide a strong platform from which to grow the Company further. Considerable upside exists in the other formations at Wressle which we now look forward to progressing.

Says it all really.

200 x $75 x 365 = $5.5m PA. That's £4m what PE for that income?

[currypasty] 06/9/2021 14:09

you can probably get them now GWB as a couple of sellers.. must be mad this close to the next rns update on flow and further development..

Must be a candidate for corporate activity / takeover / asset sale... if shareholders are slow to give value, other market participants must be mulling things over..imo

[guesswhosback2] 06/9/2021 12:22

Yes I thought so too. I have put in an order, see what I can get as the volumes are so low.. Trouble is you never want to pay over the asking on the day. Many times I have got caught on this share and others with the hype.

This time I believe in the fundamentals even at 500 bopd this is undervalue. Transformational Mr Oddie called it.

[currypasty] 06/9/2021 12:10

perhaps you should have taken that 500k, GWB..

good argument for a shareprice of 3 - 5p imho


edit, looks like you can get 200k at 1.69

over that goes to ring up only, or limit order

[tommy241] 06/9/2021 11:01

Cheers Curry and GWB.

Taken from Interims in April:

“ 86boepd was produced from Europa’s three existing UK onshore fields during the period –
compared to 90boepd for H1 2020”

[guesswhosback2] 06/9/2021 10:38

Just tried 500k shares showing 1.74. to buy

[currypasty] 06/9/2021 10:24

Plus they are already doing 50 bopd at other projects

so the total for eog is 200 bopd

200 x 72 x 365 = $5.1 million


Plus Wressle sounds like being able to do higher than 500 bopd!

[currypasty] 06/9/2021 10:21

Wressle target 500 bopd

500 x $72 x 30% = $10.8k

10.8 x 365 = $4m


less costs of production (was it $17), but Oil looks good for higher than $70 to me

[currypasty] 06/9/2021 10:18

So it should Tommy, way under priced here!