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

[sunbed44] 21/9/2021 17:33

OPEC Secretary General yesterday at the World gastech event'The world will continue to consume energy. In our forecast to 2045, we project that demand for energy will grow by 28%, and oil (28%) and gas (25-26%) will remain the dominant source of energy in the global energy basket to 2045.'

[guesswhosback2] 21/9/2021 15:09

An amazing reaction to todays news on all 3 companies. Not quite sure what more could be done. Almost doubling the expected flow. Unless I missing something here, this is so undervalued its embarrassing.

[currypasty] 21/9/2021 13:43

likeawalrus, there seems more gas than they can handle, more equipment needed, probably a bigger separator. Gas intended to be used to generate electricity on site. I guess it will power the site, and if more than needed, feed back into the grid for cash.

[suetballs] 21/9/2021 12:34

Just got in from the 19th and tbh I thought the share price would be a lot higher.
But hey ho the sun is shining.
Suet

[ngms27] 21/9/2021 12:28

Correct Gas is being burnt, no pipeline for it.

[jusmasel99] 21/9/2021 12:25

Research note just out [...]

[likeawalrus] 21/9/2021 11:05

my understanding is all the gas is being burnt on site to generate electricity, if that's correct the price of gas doesnt matter (unless they can transport it)

[christy41] 21/9/2021 10:57

The gas is looking like an extra bonus

BREAKING🚨
28680; UK natural gas wholesale price has settled at 189.65 pence per therm, the highest ever closing price (we have a higher intra-day price last week, but this is the highest closing price). That's ~$26 per mBtu, or an eye-watering $150 per barrel of oil equivalent

[p@] 21/9/2021 10:50

The Wressle oil field, in which Europa holds a 30% working interest, has achieved
flow rates in excess of 950 boepd from the primary Ashover Grit reservoir. This has
been attained on a restricted choke setting and no formation water has been
produced as the well continues to clean up. This is very positive news for the
company given that the reported flow rate exceeds initially forecasted rates by a
substantial margin and further operations to increase gas handling capacity could
increase hydrocarbon flow rates further still.
Europa holds a 30% working interest in the Wressle oil field which is located on UK
onshore licences PEDL 180 and PEDL 182. The company’s partners are Union Jack Oil
with 40% and Egdon Resources UK Limited with 30% and operatorship of the asset.
Following the completion of coiled tubing operations on 19 August 2021, the Wressle-
1 well has exceeded initial expectations significantly. As early as 24 August 2021,
Europa reported that the well had achieved flow rates well in excess of 500 bopd,
which was the forecast flow rate, following a successful proppant squeeze operation.
However, following a period of stabilised production, the well has now achieved
instantaneous flow rates of 964 boepd.
This production is predominantly oil which has delivered flow rates in excess of 884
bopd from the Ashover Grit reservoir. This is augmented by 480,000 cfpd of gas,
equivalent to some 80 boepd from a restricted choke setting of 30.5/64ths and with
high wellhead flowing pressure. The company reports that no formation water has
been seen as the well continues to clean up.
Europa notes that in spite of initial forecast production rates being exceeded
comfortably, the full output potential of Wressle-1 is yet to be fully tested due to
capacity constraints with the gas handling equipment.
The operator plans to remove these constraints and increase well output further in
order to complete the testing of Wressle-1’s maximum potential. This will enable the
Wressle partners to define a plateau production rate which correlates the well’s
behaviour to the installed production facilities, longer term output objectives and
also prudent reservoir management.
Egdon has reported to the partners that revision to the Environmental Permit has
been received which will enable the installation of a combustion plant to facilitate
gas to electric power generation on site.
Since the completion of the proppant squeeze and coiled tubing operations in July
and August 2021 respectively, the oil and gas flow rates from Wressle-1 have
exceeded expectations significantly. With further production upside potential,
coupled with a higher oil price environment compared to that at the beginning of
the year, Europa stands to generate revenue streams comfortably in excess of those
anticipated prior to the commencement of the current work programme.

[jwilkes1] 21/9/2021 09:11

Anyone who wants another fast riser ahead. Look at JKX. Produces natural gas which is the hottest commodity about. Earns $700 per 1000m3 gas, the sold 120m in h1. Will be nearer to $90m net cash end of q4 (has no debt) and current market cap only £75m. Really starting to re-rate anyway. Well done here !

[jusmasel99] 21/9/2021 08:47

I'm a Bramhill get me an RNS out of here ....

Still every little helps and Final Results should be out this week as well.

[christy41] 21/9/2021 07:44

Fantastic news, been along time coming.

[johnswan193] 21/9/2021 07:43

Wresslemania baby!

[kwizza] 21/9/2021 07:42

Also from the Egdon release....


"We can also advise that we have now received the revision to the Environmental Permit, enabling the installation of a combustion plant to facilitate gas to electric generation and a new potential revenue stream."

[currypasty] 21/9/2021 07:28

excellent, should be way more shareprice

[guesswhosback2] 21/9/2021 07:24

Incredible Wressle numbers way beyond expectations. Now maybe this share can get going.

[tommy241] 20/9/2021 21:33

Lots of “gas” talk…

[tommy241] 18/9/2021 19:47

Wakey wakey Eamon Ryan…..

[joestalin] 17/9/2021 12:06

The Irish have a woke government.

You all know the saying: - "Go woke, go broke".

[tommy241] 17/9/2021 09:54

Anyone have a subscription?

[christy41] 17/9/2021 09:42

This was posted on the PVR board this week.

Michael McDowell: ..”Green policies are increasingly divorced from reality”

“Climate change does not require us to become a nation of eco-hobbits”