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

[kcowe] 09/9/2022 08:59

Security .. exactly .. default lol no wonder big holders been selling .

[currypasty] 09/9/2022 08:55

Its 10% interest on the money... Wressle is just the security if they default

for kcowe sake, they are NOT selling ujo 10% of Wressle

[kcowe] 09/9/2022 08:52

There is a reason EDR and UJO share prices are storming it .. lol. You think a deal .. 10% of wressle for £1million thats clown thinking ..

[guesswhosback2] 09/9/2022 08:48

Yes its a great deal.

[kcowe] 09/9/2022 08:40

You believe this is a good deal ... lol

[currypasty] 09/9/2022 08:32

Fandagle, exactly.. could have been a lot worse...

Perhaps it's a NSTA requirement that they are fully funded for further development.
If this Serenity drill is a sucess, they may have plans to move to next drill straight away...

A bit more guidance from S.O. would be nice

[fandagle] 09/9/2022 08:28

It could have been far worse, they could have done another fund raise! But didn’t! I was expecting something but this isn’t the worse case scenario by a king shot.

[suetballs] 09/9/2022 08:24

Gotta laugh - someone more upset than I've been.
Suet

[currypasty] 09/9/2022 08:22

kcowe, any chance of telling them your thoughts on the other thread

[kcowe] 09/9/2022 08:20

Big share holders selling out .. they knew .. ..

[guesswhosback2] 09/9/2022 08:18

Agreed. Its good planning for a change. Its there if needed and if its needed Its because we are side tracking for more oil.

[gclark] 09/9/2022 08:12

I read it as a facility, which is available, if the drilling requires a side track. When you have the rig in place, to stop because there is not enough additional funds to do a side track at the time would be corporate stupidity, or we cede part of our ownership. I am sure we have a lot of cash, that it hasn't gone missing, but having a fallback loan facility is totally sensible, in my view. It can be swiftly repaid from Wressle revenues in the coming months if it is needed.

Drilling is by its nature uncertain, having all scenarios covered is total business sense.

[christy41] 09/9/2022 07:48

Egdon did the same with UJO a little while ago and it didn't seem to do them any harm.
Plus who knows whatever other opportunities are likely to come their way after what's happened in Parliament this week. O & G should soon be back in favour with investors.

[kcowe] 09/9/2022 07:48

How is this reasonable,?

[grannyboy] 09/9/2022 07:45

I think It's good business at the right time.

[currypasty] 09/9/2022 07:43

perhaps they want to buy in cheap before the actual spud RNS? Hopefully next week?

Im not a fan of management, but this actually looks reasonable, and far better than another discounted placing.

They must be confident on this Serenity first drill to plan further development

[christy41] 09/9/2022 07:39

That's the way I read it,although we seem to be in the minority looking at all the comments across the boards.

[currypasty] 09/9/2022 07:37

surely the cash hasn't gone, but is going on Serenity..

It's a contingency if Serenity is a sucess and needs more drilling

[markfrankie] 09/9/2022 07:33

Nice to have profitable jv partners like ujo to lend out money...

[suetballs] 09/9/2022 07:16

And not to adequately explain where the cash has gone is not acceptable.
Apart from scratching his backside what is the FD doing?
I'll keep quiet now.
Suet

[gold001] 09/9/2022 07:07

It's not a great look in my opinion.
If they don't have £1mil in the bank then obviously funds are running very dry..