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

[jungmana] 26/9/2022 19:04

Been a week of selling for most small oilers. Many have lost 20% or more over the last 5 trading days

[gaffer73] 26/9/2022 18:57

Most oilers down today due to the drop in crude.

[fandagle] 26/9/2022 18:31

This price action is the biggest CON ive seen on AIM for a while, the MM's are stealing your shares, this drill is to see if a bigger boat is required, not to see if there is oil!

[johnswan193] 26/9/2022 16:43

Wouldn't surprise me with Simon. But if Serenity fails he needs to go immediately.

[neo26] 26/9/2022 16:28

Wtf is going on.Are they lining up a placing, i recall matd doin similar.

[lageraemia] 26/9/2022 14:56

1p on a duster?

When the UJO $10m RNS comes out this week, that means EOG will have recieved $7.5m just from Wressle....with 33% more BOPD from the other producers.

That's around the $10m per annum mark........and a share price of 1p would mean MCAP of £10m, with further development at Wressle, Irish business, Morroco AND The residual value of the Serenity prospect with low cost tie back to be a producer of 100s of barrels per day net to EOG at the least.

Share prices sometimes bear relation to findamentals you know. 3p on Wressle alone would not be unreasonable.

[stockport loser] 26/9/2022 14:00

Yep 7-9p on success case, between 4 and 6p on discovery of 100mb OIP and 1p on duster. Recovering to 1.5p.So risk reward from here says its worth a punt.

[hoper1] 26/9/2022 13:57

Yeah, and the bear is in a bad mood

[mynameiskhan] 26/9/2022 13:55

Oil discovery at appraisal well with sand thickness of 30-40 feet will confirm the JV model of 197 Mbbls, and according to brokers, is gross worth $1900m based on 50% Recovery Factor and $19/b value of oil. EOG own 25% of it, this will be equivalent to $450m = £433m = 45p So, I think any oil discovery in Serenity, the market cap is likely to be over £80m, after applying discount to NPV

[jungmana] 26/9/2022 12:41

Is all down to drill bit now. Out of my watchlist of 30 shares, only 3 are blue, 4 are flat and the rest all red. Been a similar performance all of last week.We are in a bear market

[currypasty] 26/9/2022 12:36

I wouldn't be surprised if Pershing weren't dumping the lot

[tommy241] 26/9/2022 12:23

Strange reaction recently, however I’ve topped up today

[jungmana] 26/9/2022 12:20

And the general market too is bearish with oil price heading down

[jungmana] 26/9/2022 12:18

Is not just the large shareholder, imo some pi's dumping after not getting the pre spud rally .I still hold all my shares but now in the red about 5%

[currypasty] 26/9/2022 12:15

MCAP dipped under £20m very poor performance

[talkman2] 26/9/2022 12:10

Don’t forget that EOG’s Wressle production is being paid in US Dollars which is significant. The current so is writing off Serenity as a complete dud and zero and is under valuing its current Wressle production asset . Madness

[currypasty] 26/9/2022 09:08

still no holding RNS..

[bandflex] 26/9/2022 07:53

They should have applied for a geological sidetrack with the drill application so maybe it is a late application, as only a consent for a mechanical sidetrack is shown.

hxxps://www.nstauthority.co.uk/media/8246/nsta-wons-guide_final_accessible_3006.pdf

Definitions-

(11) Mechanical Sidetrack: a sidetracked well where the target location stays the same. This can be due to an obstruction or failure to maintain a wellpath.

(12) Geological Sidetrack: a sidetracked well where the target location is different
from the previous wellbore

49. The NSTA’s consideration of an application to geologically sidetrack an existing well is very similar to that for the drilling of a well, see Consent to Drill section above.

50. Where it is possible that a geological sidetrack will be needed, it is strongly recommended that a sidetrack application is made at the same time as the initial drilling application. This approach ensures a consent is in place in case the original target does not meet expectations and a decision is made to drill to a new target.

55. The licensees must have received consent before a wellbore is geologically sidetracked. It is strongly recommended that a contingent application for consent should be submitted through WONS at the same time as application to drill at least 28 calendar days before the intended spud date.

[bandflex] 26/9/2022 07:27

hxxps://www.nstauthority.co.uk/media/8246/nsta-wons-guide_final_accessible_3006.pdf

Table 1

The initial drilling consent will normally provide for a spud, a single re-spud and a single mechanical sidetrack. Any further re-spuds or mechanical sidetracks should be raised quickly with the NSTA team and need separate applications.

[bountyhunter] 26/9/2022 07:17

For Serica the North Eigg drill was re-spudded several times but there was no announcement to the market at that time. The market was told a few weeks afterwards.

[mynameiskhan] 26/9/2022 07:13

If there was any prob or drill stopped for whatever reason, it should have been announced to market by RNS by now. All going smoothly.

[bandflex] 26/9/2022 07:10

hxxps://itportal.nstauthority.co.uk/edufox5live/fox/edu/WONS_WELLBORE_SEARCH_PUBLIC

Wellbore status still shown as Planned rather than drilling. Same site shows they had consent on 12th Sept for an initial drill, one respud, and one mechanical sidetrack.

If they used up the one respud and encountered problems then maybe that is why they are having to reapply. I'm not convinced they have been drilling this weekend.

[badger60] 26/9/2022 06:55

Unfortunately over time EOG has promised much and delivered nothing. If it is unable to capitalise on the current energy environment with what it's potentially got......forget it. Historically a very poorly run company.