http://www.oedigital.com/component/k2/item/6214-looking-for-ireland-s-jubilee "Europa is encouraged by the latest 3D data on the southern Porcupine basin. “We are very excited about what we are seeing,” he said in Dunline, adding that there is the potential for 50-100sq km aerial extent turbidite sandstone submarine fans. “We think there are Cretaceous turbidite fans in the southern Porcupine basin. It is an exciting new play... with the potential to hold hundreds of millions of barrels of reserves. This play has not been tested offshore Ireland yet. If it is successful we will see a complete transformation of the industry.” Looking forward to seeing Kosmos' Prospect Inventory and the CPR in Q4.
If Scotland split and take their Oil will this make english oil more lucrative, I would have thought it would make the national news if they did. Come on England lol Phew never thought I would ever say that.
Absolutley right. The main thing is the reaction to the deal Egdon made with Total. Hence they had a 5x increase in share price. Europa have some really good assets and great potential but they are down the road and AIM is here and now as Anthony pointed out. Unless the BOD can show that they can find and make deals EOG, then I am not sure we will see much increase in share price. Porkpies pointed out that the BOD made a placing at 6p and that is holding back the rise at the moment and killing the momentum. I agree with Heidelberg, new blood on the BOARD is probably needed to get some deals done and really move the share price north, which is what we are all here for to make some money.
I agree with your analysis of why the markets reacted to shale - but it is far off and personally I do not mind why the reaction occurs. In the Egdon case it was helped by deal making and I would hope any shale evidence on EOG licences would also see some deals which may help to realise early value. I bailed out of EDR for the reasons you explain (hype) and prefer EOG for future value. But I would rotate again on any similar effect with EOG.
The rise for Edgon following shale news was not based on the markets factoring in potential value from their assets, it was and still is simply the hype that came with the buzz word for investors this year, 'shale'. Thats my point, there is no real valuation of a company based on its sp listed on AIM. Majority of investors flooding EDR and other companies on the back of the shale news probably didn't even know what the hell they were getting into. You could see that by reading the discussion boards. People were expecting huge revenues from Gas production straight away, it was laughable. MMs did what they do best and used the situation to their advantage and fuelled the hype with the resultant sp swings. In no way was there any factoring of asset value factored into the sp. EDR in my opinion need the wressle success desperately. Without this and some other UK drills they would drift back to low teens as people caught on the shale spike realise they wont see any real return for many many years to come and sell out. AIM is all about the here and now and this gives what mm's feed off.......HYPE
Whoever under wrote recent placing at 6p will still be offloading shares into any good news flow. Once complete then we may see a rise. IMO
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