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

[fandagle] 03/3/2022 16:29

Repsol have had their own problems with Spanish and Asian infighting over the past four years, I do believe its been resolved recently but that would have held negotiations back, i know the Bloeholm FPSO deal was drawn out affair due to Repsol commitment, all said and done this was a master stroke by Majid for once, and a marvellous deal for EOG, its not a matter of oil being in Serenity, its a matter if we need a bigger boat or not....GLA...

[guesswhosback2] 03/3/2022 14:23

well its certainly created some debate. I sense the 13E guys are both relieved that we have stumped up the money and that we are way too small to interfere. Its a huge opportunity agreed but not one that we were building up our company for. It seems like an ego play for the odd one.

Its a bit like a minnow signing Ronaldo. It could pay off but its going to costs us if it doesn't. £7m to i3E is probably about 2 months income. To us, its nearly half of our value.

[tommy241] 03/3/2022 14:04

Just in case it was missed…

[morningswimmer] 03/3/2022 13:51

40% discounted placing, just like UJO. It can't be that difficult to raise funds, it looks suspicious given EOG's cash flow position is so good. Good for the institution that was given the half price shares, not good for shareholders.

[dunderheed] 03/3/2022 13:33

Really Fandangle - money talks here and if it was a good proposition Repsol would have probably bettered the offer than EOG.

Of course it is likely Repsol may have insisted for operatorship which hence made EOG's offer more palatable to i3E but I'd like to think they would have still have got i3E to ransom with regard to (possible) infra-structure hence would not have put too much importance on operatorship at this stage and would have provided a better deal than EOG if they truly believed in the "concept(s)".

I am inferring they do not - could be right - could be wrong - just my opinion.

[fillipe] 03/3/2022 13:31

To me, it does look like there is a positive direction ahead for EOG.
The bests on show for the bid/ask are 1.85 v 2.1p.

2.035p is being paid as I type and it's understandable for the bid to be restrained and close to the recent new shares 1.8p ....to deter sellers.

Well, that's my reading of thing's EOG.

f

[fandagle] 03/3/2022 13:27

It’s up to I3E to decide who they select as a partner, as I’ve said many times before Respsol and Viaro held I3E to ransom WRT the F/O especially during early negotiations when oil was $30 per barrel. It does look to me like two fingers up to the big boys…

[pretax2] 03/3/2022 13:26

Guesswhosback
It's a chance to experience a big boy drill which (if successful) could literally make this company. The only people who ought to be upset is fly-by-night traders who are now locked in (for a few weeks). But investor in EOG with a long-term horizon ought to be delighted with the deal. And if you're not, then what are you for? This is an oil and gas company DOH.

[dunderheed] 03/3/2022 13:25

PS can Fandangle confirm if he understood my point or not please?

[vikingking1] 03/3/2022 13:24

Just making a point about liberator west.

[jungmana] 03/3/2022 13:23

Muddyfox- for now eog have only farm-in for serenity. Liberator and minos high are not part of the deal

[dunderheed] 03/3/2022 13:22

Hey GWB2, I personally think it's a good deal for EOG - it has a better chance of success than that which was advertised for Inishkea, IMHO - but we always have to remember oil and gas exploration (this actually is referred to as appraisal?) is risky.

I don't like the asset myself but I get almost as much wrong as right and it could be truly transformational for EOG.

I personally think the share price got a little heated because "someone" had heard "something" and wasn't truly reflective of EOG enterprise value - as I would like to see 2p reserve increases for Wressle as well as high production profiles but, I absolutely do feel for you guys, who feel hard done by with regard to the placing.

It must be remembered that the true reason why you guys are in such a mess with regard to placings etc is previous management "failings", IMHO and these guys really don't have that much to work with, as they will have needed money now to assure of reasonable weather window to drill the well - or else it could end up being twice as costly!!

Best of luck all and will always keep an eye here!!
As ever all above IMHO and DYOR.

[guesswhosback2] 03/3/2022 13:17

Jungmana, Muddyfox - maybe you are one of the guys who we can rely on to tell us why we have bought this farm in, when we were doing ok without it. It seems like Simon Oddone has just had an ego purchase at our expense. Be glad to hear just how good this opportunity is, or maybe as suggested, we will just trade it up until spud and run for the hills?

[muddyfox0151] 03/3/2022 13:17

New bunch of rampers ! Serenity is just for starters , liberator west could be twice the serenity discoverer ...

[kibes] 03/3/2022 13:09

Disgraceful to offer shares at 1p and exclude existing shareholders, this is the AIM market at its worst. Or come to think of it, not quite its worst as quite often people lose all their money. (Actually I have checked and it was 1.8p but still a kick in the teeth)

[jungmana] 03/3/2022 13:08

The "new bunch of rampers" are here for Serenity because we know all about the it. Some of us have been in i3e for 2+ years.

[guesswhosback2] 03/3/2022 13:03

Well at least we have acquired a new bunch of rampers. I will be interest to know the facts. Glad you are here Dunder perhaps with your knowledge we can learn to understand this.

[jungmana] 03/3/2022 12:56

I agree and said it earlier. I3e is my largest holding in oil and gas and today I bought eog for the first time. Will be adding more.6 to 8p by summer spud imho

[theonewhoknows2] 03/3/2022 12:54

6p spud price here gla

[dunderheed] 03/3/2022 12:28

My point Fandangle - and I know it's a "difficult" one to grasp, wtf didn't they farm in to this asset, as they will all be sharing the same infrastructure - probably, - and they will be very familiar with the geology.....