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

[tommy241] 14/9/2022 08:33

Courtesy of the PVR bb:

Michael McDowell former Tánaiste , Minister & Attorney General calls out Ryan’s hypocrisy in The Irish Times

Which energy minister
warned us back in October
2007 in relation to Ireland's 85
per cent dependence on
imported gas and oil? "This
reliance on imported fuels
from areas of the world that
are geopolitically volatile
contributes to price instability
and vulnerability in Ireland.
New domestic sources of oil
and gas would ease this
pressure." It was Eamon Ryan.
He also said that "Ireland's
oil and gas is a resource of the
people. I want to ensure that
our waters are fully explored
and also that we get a proper
return to the State." (Irish
Times, October 7th, 2007).
This paper's editorial
commented on Russia's then
use of gas, and Gazprom threats
to cut off supplies to Ukraine.
(October 9th, 2007) and the
need for domestic energy
security and exploration
So, any suggestion that
Ireland was taken completely
by surprise by the recent
energy crisis and Russia's
turning of the screw needs to
look at the record. It was
foreseen in outline. But little or
nothing was done.
Delay is one thing. But
wrong-headed refusal to
confront realities and
wrong-headed legislation to
close off storage and explora-
tion options is another thing
altogether.
Weare very vulnerable.
Shorter morning showers and
turned-down thermostats in
the home and elsewhere may
help a little. But an increasing
population and an increasing
demand for electricity for data
centres, transport and non-fos-
sil-fuel home heating, coupled
with the need to keep our
economy moving in all sectors,
demands a different "hands
on" approach.
The real world does not
operate on the "Let there be
light" basis of the Book of
Genesis.

[mustbefunny] 13/9/2022 12:47

Clearly not done yet

[jungmana] 13/9/2022 10:31

Lol! Our seller had about 50m left 7 sessions back. I think they are done selling for now if not fully out

[bill216] 13/9/2022 10:29

Could be the same share traded 120m times though ;)

[jungmana] 13/9/2022 10:13

Is our seller done? Must be as we traded about 120m volume over the last 7 sessions

[joestalin] 13/9/2022 07:48

News on Serenity - nothing we do not know already

[bomfin] 13/9/2022 07:34

Anyways. I think. We`ll be going stand alone after the appraisal well and Tain may be tied into our fpso. We will find out in about a month or so.

[bomfin] 13/9/2022 07:33

I know. Thanks. Yes. Majid. Fantastic cricketer. That`s where I got mixed up.

[mynameiskhan] 13/9/2022 07:31

His name is Majid Shafiq, not Majid Khan.Majid Khan was a famous cricketer

[bomfin] 13/9/2022 07:30

I do apologise. CEO is Majid Shafiq

[bomfin] 13/9/2022 07:28

Yes. Worth listening to what Mr Shafiq said in the recent proactive presentation. I think their read on it is good. I think they will prove up more oil. At present I believe they have 1 well in a small field when unitised. Of course our oil (i3 and Eog) helps the prognosis for Tain. If we have the bulk of the oil we could be looking at stand alone rather than messy unitisation discussions and a 19 km tie back when that development spend money would provide for an fpso and quite likely Tain would then elect to be tied back to us. If Repsol still have it (they have been selling assets in the north sea) then they will be holding to see the result of our appraisal well I would imagine.

[edgein] 13/9/2022 07:26

Bomfin,

Firstly you were watching a different presentation as the CEO's name isn't Khan. Secondly in a recent presentation by I3E they said that there's already around 16mmbbls in place (about 50% recoverable) at Serenity and big enough as a tie in. They've also said they believe there will be P10 volumes there of 240mmbbls in place if they can prove 40ft average pay sands across Serenity.

Regards,
Ed.

[mynameiskhan] 13/9/2022 07:22

Yes, they had thin sand of 5 feet or so. Serenity discovery well found 11 feet sand, and expecting it to be more thick at the appraisal well

[lageraemia] 13/9/2022 07:22

Guess my hunch that EOG would do better from the Wressle Report than UJO was correct eh?

Just not this way LOL!

[bomfin] 13/9/2022 07:20

Here you will see Repsol flagging Tain as 10 million barrels.

[bomfin] 13/9/2022 07:18

If you are talking about 10 million barrels commercial threshold tie back. That could mean for the Tain field development of which they would have a single well tied back. It`s not clear. It could be ambiguous but I hope you are correct.

[mynameiskhan] 13/9/2022 07:08

If go through EOG March 2022 presentation about Serenity Farm-in, slide 4 also indicating 10 mbbls

[bomfin] 13/9/2022 07:02

If it were 10 million barrels the farm in cost to Europa is a give away which would of course be good for Europa shareholders. Personally I believe the appraisal will prove up far more additional barrels.

[bomfin] 13/9/2022 07:01

Well. i3 ceo said it was 2.5 million barrels in the recent presentation.

[mynameiskhan] 13/9/2022 06:47

Serenity discovery well has something 10 mbbls recoverable oil, and 25% goes to EOG = 2.5 mbbls net to eog

[bomfin] 13/9/2022 06:44

Noticed that CEO of i3 says that Serenity discovery already has enough to be developed. 2.5 million barrels in a Tain field development. Unitised perhaps already 625,000 bo net to Europa. Currently clearing about £25/barrel profit. The model for the appraisal well is good and clever. Sands could thicken west or south or even closer to the horst. imho dyor

[guesswhosback2] 13/9/2022 06:25

"The current Reserves at the Ashover Grit and Wingfield Flags in respect of 2P figures according to GaffneyCline stands at 670,000 bbls of oil as at 30 June 2022. This figure is post past production figures of 203,000 bbls of oil, a substantial upgrade to the originally reported recoverable Reserve.

This really is a substantial upgrade.

2P reserves means proved plus probable reserves. "Proved reserves" are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

So Wressle is even bigger than first expected with additional reservoirs and income for minimum 5 years, which we know usually gets extended. EOG have 30% of $60m income PA, with potential increases to come if we drill a few more wells.

[currypasty] 13/9/2022 06:09

-- Ashover Grit Speculative Deeper Oil-Water Contact assessment indicates a potentially significant increased estimate of STOIIP ("Stock Tank Oil Initially in Place") of 10.12 million barrels of oil ("MMBbl") and a recoverable resource of 2.43 MMBbl

-- The Wressle-1 well also indicated the hydrocarbon potential of the Santon Sandstone where GaffneyCline has estimated a Contingent Resource

-- Illustrative Production Scenario shows a constrained plateau production rate of 800 barrels of oil per day for approximately five years

-- Ashover Grit and Wingfield Flags oil reserves at the Effective Date of 30 June 2022 stood at 1P 320,000, 2P 670,000 and 3P 1,030,000 barrels of oil following past production of 203,000 barrels of high-quality oil with zero water cut

An abridged version of the Report is presented and the full Report can be viewed on the Company's website www.unionjackoil.com

[cinques] 13/9/2022 06:05

GC report out this morning. See UJO

[cinques] 13/9/2022 06:05

GC report out this morning.