Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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Let's see what happens
Europa Oil & Gas (Holdings) plc is an AIM-listed exploration and production company focused on developing its balanced portfolio of assets in the North Sea and Atlantic Ireland, supported by revenue from onshore oil production in the UK.
Nothing good will come out of Africa, companys this size just get spat out over there. If no dilution (yeh righto) then it has to be some sort of loan, backed by hopefully by steady production at W1. Its my opinion you are entitled to your own.
Interesting interview from last month with Africa oil week 2023
https://youtu.be/lFdI2pHI9Hk?si=Vm44tdQYNz_fjXRO
Ridgtile, when has Europa ever been “just” an UK oil and gas exploration and production company? And how do you know the terms or timeframe for any possible new venture in West Africa?
You need new prospects to drive interest and (hopefully) the share price.
As previously noted, both the current CEO and founder of Europa support new ventures.
Https://www.farmoutangel.com/ Africa full of opportunities, let's hope Europa choose very carefully
The reason I and many other people invested here is because it is supposed to be a UK oil and gas exploration and production company. Any packing of suitcases for the west coast will more than likely take at least four years to come to any outcome good or bad. Payed for by an enormous loan at crazy rates because its backed by an oil well in yorkshire with no other means to pay should the well have issues. Sounds like a total disaster in the making to me and these numpty's cant read geology on their own doorstep hence the SP never mind on another continent.
That was a very positive presentation. I am going to do some research on West Africa. ,😎👍
Not what I saw in the presentation. He was very clear - no more Serenity type adventures with dilution. West Africa - if that’s what it’s going to be (like it or not) - would come out of Wressle revenue.
Wressle pays the wages and any new venture is paid by shareholders . I know its an exploration company but Serenity was reckless , a £7.5m dilution / cash raise that vanished along with the market cap with it . Dilution, followed by bad news is never recoverable . 3 p before crash would be like a market cap of £30m + again. Never gonna happen . Who's paying for West Africa ???????? . Nothing on the horizon except a slow drift down ......
Well there you have it, both current CEO and Europa founder agreeing that new prospects are required. Interestingly the focus on West Africa, which is a highly desirable location for the majors.
I thought they said at the investor meeting on 8/11 that it was back in production and that they would inform us of stabilised rates once established. They said 2-3 weeks at that point, so as it’s an Egdon timescale 4-6 weeks is presumably what they meant - which would be any time from now onwards.
There doesn’t appear to be anything visible on the recent site photos/videos that should prevent a return to full production and an update to the market. So perhaps they’re awaiting for some form of additional permit, i.e are they now producing higher water rates once the taps are open and do they need a permit to dispose of the additional water?
Any idea what they mean by "clean up", isn't that a continuous process performed by the separator or is it something else in this context?
Thanks for the reminder Itsawrapp..we could do with that further announcement just to calm the nerves that at least one project is going well.
RNS 08.11.23
Europa Oil & Gas... is pleased to announce that the W1 well at the onshore UK Wressle oilfield has resumed production. The jet pump and the associated surface equipment is operating as expected and since production resumed the W1 well has produced at gross rates of over 950 bbls of oil per day ("bopd"), compared to approximately 750 bopd prior to the jet pump. The well is now on continuous 24-hour production and is expected to continue to clean up over the course of the coming days. Once stabilised production is achieved a further announcement will be made.
The photos on UJO twitter today show"some of the latest equipment installed to restore production"
I'm unsure whether that meanes production has restarted or not. A lot pipes valves and green storage tanks. Are those tanks for waste water.?
Come on EDR , give us a better update when we are getting the revised CPR .and production.
"Let's see what tomorrow brings"
Another drop.
Let's see what tomorrow brings. 👀
What's going on with the proactive presentation? Are the going to put it up on YouTube so we can see it?
Yes I wrote a short note to them - no response - WH normally does respond but as you say in view of SH's trying to get him out I guess he is staying quiet - really don't want them taking on another project - there have been promises made over many years and none delivered on
Will never forgive them for issuing confetti shares just as the SP reached approx 3p. Should have bidded their time, cut cost and when the wressle money had built up bought into something smaller. But they only had small shareholdings, big salaries and wanted to pretend they were on the Dallas set. Can just imagine the lunches they had with i3e
They’re great when things are going their way, not so much when they can’t tell you what you want to hear.
Did anyone email the Company to get their reponse to the AGM / proposed SGM.
I sent them quite a pointed email with a couple of difficult questions. EOG have been very good in the past with Will Holland responding himself by email within a day or so - this particular email looks like it has been ignored.
Fascinating podcast, particular from 38 mins, on the benefits of domestic production. And earlier in on how Russia’s misinformation campaigns have increased dependence on imported energy. Ireland watch this space!