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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign


Europa Oil&gas Share Chat (EOG)



Share Price: 2.72Bid: 2.70Ask: 2.75Change: 0.00 (0.00%)No Movement on Europa Oil&gas
Spread: 0.05Spread as %: 1.85%Open: 2.725High: 2.72Low: 2.72Yesterday’s Close: 2.72


Share Discussion for Europa Oil&gas


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dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.72
RE: Ireland
Sat 15:12
Here's bloody hoping Anthony.

It is getting little late in the day waiting for this!!
My money is on cnooc (nexen), xom or wild card Suncor.
Cnooc because they're active, Suncor because they know the geology and both for the major oil company status (Suncor just lol).
Xom because they're 'active' but in theory they are THE super major so think the mgt would have said super in their guidance.

What I certainly do not want to hear is that the sign off will be linked to the cnooc well results because that is not worth the paper it is written on!!
I assume there is no exclusivity attached to all 3 licences (obviously Inishkea our later "flagship" asset which is currently in dr)?

Best of luck all.
Cannae be too long now!!
 
Anthony_
Posts: 984
Opinion:No Opinion
Price:2.72
RE: Ireland
Sat 10:13
Really positive article for a player operating in and around Ireland!

‘CNOOC is announcing its budget and production target for 2019 later this month’

Maybe once they tell their investors about budgets and production later this month they will then finalise deals and tell the markets.....our deal being one of them ???
Tacuma
Posts: 445
Opinion:No Opinion
Price:2.72
RE: Farmin, farmout, shake it all about
Fri 17:23
If I came in at this price I would be full of optimism and upbeat postings. Unfortunately myself and other LTH's have deposited the funds here to achieve the point at where we are now. If I didn't think that it will succeed I would be getting out as has been suggested by some but it will come through someday. Let's all hope it's soon.
Lucky lucky newcomers.
oilisthefuture
Posts: 121
Opinion:No Opinion
Price:2.725
Farmin, farmout, shake it all about
Fri 15:32
On Monday it will be exactly 2 months since the last regulatory update to the market on the Irish projects (I think), which referred to a farmin deal subject to head office approval, 95% of the way there, but no guarantee of a deal (sound familiar??). So discounting the festive break, there have been 6 working weeks in which to get that approval. I know there will be pushback on this sentiment, but it would seem to me that this was wishful thinking from HM. The Company went for a placing with that announcement and now has a few million in the bank. I don't know why you would punish shareholders by depressing the share price in another placing if you honestly thought there was a farmin going to happen which would alleviate the need for the cash. Key word there is honestly.
RampA
Posts: 1,124
Opinion:No Opinion
Price:2.725
RE: Farm-Out
Thu 09:32
AJED
Posts: 60
Opinion:No Opinion
Price:2.725
Farm-Out
Thu 08:56
My money is on Nexen farming in to this.

They’ve just formally changed their name to CNOOC Petroleum Europe Ltd (and other versions) and the Chinese are gathering momentum. Nexen has gone forever !! Offices in Uxbridge, Aberdeen and Dublin.

They have 50%, and maybe more later, of PVR and LOGP interests in Barryroe and are after production.
dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.725
RE: That saved me ..
Wed 16:48
Ah wasn't sure JT but wasn't a nasty reply from me and sort of tongue in cheek as well?
JohnnieTaylor
Posts: 181
Opinion:No Opinion
Price:2.85
RE: That saved me ..
Wed 14:37
It seems the lines have been disconnected to your sense of humour lobe.
dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.85
RE: That saved me ..
Wed 14:05
I'd be very surprised if they let a switchboard operator have any such access!
Always confidential lines matey.
JohnnieTaylor
Posts: 181
Opinion:No Opinion
Price:2.85
RE: That saved me ..
Wed 11:19
So you used to be a switchboard operator, dunderhead?
dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.85
RE: That saved me ..
Wed 11:06
Wtgr to Dreamon he / she doesn't appreciate the processes involved. 100% it is up to the local office to convince their bosses of the reasons behind thus Capex allocation!

I am surprised that they have disclosed so much "'personal' / confidential" information with regard to this potential transaction and draw some positivity from that.
The amount of times I've sat in tel conference calls and wells have been scratched based upon a very senior person having a different high level idea or dislike to the concepts involved.
I can only assume there have been very good communications between regional office and HO before "going public" on the respective company positions?!
All imho of course.
Genghis15
Posts: 3,787
Opinion:No Opinion
Price:2.85
RE: That saved me ..
Wed 10:13
"Board level now need to come up with a reason why they would override the NW Europe Division"

I doubt if it works like that ; it will be the other way around.

Divisional heads will pitch projects to the main BoD, and they will evaluate based on corporate strategy, capex budget, and perceived risk/reward.

There is no knowing what %age get pitched/rejected, and it will likely vary by company anyway. But it is not yet a done deal, the odds mb 50% or 10%, we just don't know.
dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.85
RE: Update
14 Jan '19
It didn't cause an uproar for Shell anyway lol?
AJED
Posts: 60
Opinion:No Opinion
Price:2.85
RE: Update
14 Jan '19
Thanks.

What I really meant concerned the uproar that Corrib caused during its development and its effect on the overall cost to Shell both monetarily and in terms of reputation. Anyway I believe they’ve sold it in now.

I suppose all the problems with regard to the landward pipeline route etc are out of the way as it’s in production now. However I just thought that the ‘Shell to Sea’ people may want to stir it up again. Perhaps not.

EOG certainly need something +ve to happen.
Tovoc
Posts: 277
Opinion:No Opinion
Price:2.85
RE: Update
14 Jan '19
@AJED I don't follow your first sentence but as regards the second I don't foresee an issue with Europa using the Corrib infrastructure, after all, we are not dealing with NIMBY's here; Corrib will charge for the use and will benefit from increased capacity and increased life span. It should be a win-win for all the companies involved.
IMHO
AJED
Posts: 60
Opinion:No Opinion
Price:2.85
RE: Update
14 Jan '19
It rather surprises me that some sort of stink isn’t being raised by shell to sea and others this being within spitting distance of the dreaded Corrib !!

Also I believe that the Corrib infrastructure is planned to be used. All they need is another nightmare along the lines of Wressle.

Just a thought.
dunderhead
Posts: 1,900
Opinion:No Opinion
Price:2.775
RE: That saved me ..
14 Jan '19
Dream on.
Of course they've agreed terms for crying out loud. The NWE head has signed the farm outs and I assume they need counter signatory from their respective bosses because they do not have the authority to sign on such a large Capex commitment.
Ffs, all imho and dyor.
JohnnyB.Goode
Posts: 4,293
Opinion:No Opinion
Price:2.65
RE: Update
14 Jan '19
"As investors are aware, the Company is currently negotiating farm-in agreements with a major international oil and gas company in respect of LO 16/20, FEL 1/17 and FEL 3/13. We have agreed terms with their NW Europe division and continue to await a final investment decision from their head office."

Get in now before the farm-in oil major is confirmed I say.

https://www.investegate.co.uk/europa-oil---38--gas--eog-/rns/shareholder-letter/201901140700069440M/
JohnnyB.Goode
Posts: 4,293
Opinion:Buy
Price:2.775
RE: Update
14 Jan '19
Lots of positives in the Shareholder Letter, the main one being ...
"In Ireland, we opened the virtual data room ('VDR') for our Inishkea gas prospect on schedule on 20 December. Interested parties are already active in the VDR and dates have been fixed for the physical data room. We continue to regard Inishkea as our flagship project and all the early promise has been confirmed by the new 3D PSDM seismic data. We are confident that we have "tcf-scale" prospective resources, within 10km of the Corrib gas infrastructure, in comparatively shallow water and in a country that needs more gas."

Got to be worth much more than the current SP by summer.
DreamOn
Posts: 27
Opinion:No Opinion
Price:2.775
That saved me ..
14 Jan '19
After last week ended with love ins all round I was going to write a positive post to get this week off to a great start but Hugh beat me to it. Good news on the clean up at West Firsby - a barrel a day keeps the doctor away and just a small snippet more regarding the farm out of the three licences - TERMS AGREED! Great stuff ..Board level now need to come up with a reason why they would override the NW Europe Division chiefs of a major oil company.

My Dream is still ON ...
glasgowpunter
Posts: 368
Opinion:No Opinion
Price:2.775
Update
14 Jan '19
Felt that was a good update and badly needed with what’s happening. Lots to look forward to if we get the three farm-in. Only time will tell :-)
SelfishMcNimby
Posts: 219
Opinion:No Opinion
Price:2.775
RE: Revised target price 1.79p
13 Jan '19
One of the 'keep it in the ground' brigade I see.
rizalino
Posts: 717
Opinion:Strong Sell
Price:2.775
Revised target price 1.79p
13 Jan '19
Still looking expensive here.

Revised price for me 0.0179

Still paying bods Chrimbo turkey #Cashburn




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