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Europa Oil&gas Share Chat (EOG)



Share Price: 5.50Bid: 5.25Ask: 5.75Change: -0.25 (-4.35%)Faller - Europa Oil&gas
Spread: 0.50Spread as %: 9.52%Open: 5.625High: 5.625Low: 5.25Yesterday’s Close: 5.75


Share Discussion for Europa Oil&gas


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porkpies
Posts: 103
Off Topic
Opinion:No Opinion
Price:5.75
holmwood
Sun 23:59
look on the bright side

if we hadn't had the delays then europa could have drilled holmwood (before ukog drilled) aiming for the portland only and missed the kimmeridge like everyone else did.
europa would then have had to spend more money getting the rig back up there!
 
porkpies
Posts: 103
Off Topic
Opinion:No Opinion
Price:5.75
kosmos
Sun 23:53
dunderhead

i would agree kosmos walked as they had better assets elsewhere and had to prioritise these given restrictions to their budget (due to oil price)
Giblets
Posts: 205
Off Topic
Opinion:No Opinion
Price:5.75
Third party farm out specialist
Sun 19:58
Is there such a company in existence?

Maybe this would be an option, bring in an SME that can market the licences amongst majors and perform negotiations, fees based on cutting a deal, maybe with the addition of a % based royalty from any future production profits.

There are a lot of hungry people in this world so I’m sure such a company exists, we need to think outside the box as something is amiss.

Are the current bod asking for too much? Do they come across as over or under confident?

Either way we need to try something new in 2018, maybe some fresh young blood with plenty of drive in the camp to go out and seek deals. The current recipe isn’t working and it needs changing before it’s too late.

Sacrifice one of our financial experts, we only need the one....
dunderhead
Posts: 79
Off Topic
Opinion:No Opinion
Price:5.75
RE: bod
Sun 19:45
PP sorry I promised not to post on here but let's take a look at the facts!
Kosmos walked away after 3d interpretation not oil price. They have spent a fortune offshore Sen and Mauri!! Just 'perhaps' the prospects weren't quite as good as 'everyone' think they are !!
Since then Hugh has assured is there's been loads of interest in the full data room expecting to update us all on this many many many times over.
What do we get? After all the massive interest, only Cairn, the out and out drillers choosing a bit of seismic acqusition!! You can be assured they will have looked long and hard at the 'worked up' drill ready prospects, so we have to ask, why didn't they snap these up?!
I am not saying corrib may not come up with something but am concerned that, in contrast with many on here, we do not have the commercial nous to not get shagged black and blue by any 'big' oil wanting in!
Please note all imho of course and I am 'disgruntled' by the amount of time wasted by the err management, to work up our onshore assets which would 'possibly' have reduced the amount of equity we will end up giving away for any Irish farm outs?
porkpies
Posts: 103
Off Topic
Opinion:No Opinion
Price:5.75
bod
Sun 17:37
in order to farm out you need someone to farm in

you always need a bit of luck on your side. you can be doing all the right things yet sometimes things just don't go your way and vice versa. we have had a bit of luck with the kimmeridge for example.

the bod already did farm out fel3/13 to kosmos. then got a bit unlucky with the oil price meaning kosmos refocused.
dunderhead
Posts: 79
Off Topic
Opinion:No Opinion
Price:5.75
RE: bod
Sun 16:34
Sorry lol, if the g&a is too high for the model (not needle lol) it doesnt work !!
Tacuma
Posts: 102
Off Topic
Opinion:No Opinion
Price:5.75
Re:Bod
Sun 14:50
PP, I have taken the liberty to read your posts back to Jan 2015. I truly respect and admire your eternal optimism.
dunderhead
Posts: 79
Off Topic
Opinion:No Opinion
Price:5.75
RE: bod
Sun 14:20
PP, it's not about luck, it's about mitigated risk.
Your wish list (excluding specifics about corrib but requiring two farm outs for ireland) should have been completed last year!
Without a doubt the bod delivery has been lowest quartile this year and none of the options should be issued and that doesn't give an excuse for even cheaper ones to be issued, during the next year either. I think its insulting to issue options taking into account the 'salary sacrifice' they did at eog. For about the millionth time, if the g&a us too high for the needle it doesn't work so cut or change the model.
Another poster on here commented on sp pfmce by current board, which is simply crap compared to peer group, even taking into account the difficult times for the industry - considering the uk production back-up during this period.
All imho of course.
porkpies
Posts: 103
Off Topic
Opinion:No Opinion
Price:5.75
bod
Sun 13:21
I don't think you need to worry about anyone.

don't forget we are not operators of all the assets. work is also outsourced to consultants.

it is clear 100bpd only covers overheads. the strategy is to farm out assets. its a waiting game but this applies to all small explorers.

need to be realistic

I would class a successful 2018 as bringing wressle into production and drilling holmwood.
securing 2 farmouts for ireland, one for corrib north and one in the porcupine and also news from 3d.
Then also hopefully some developments on the other UK assets such as planning applications however of all the uk assets we are only operators of holmwood and pedl181 (kiln lane licence) so this is in others hands.
Also maybe a new venture.

We will also benefit from news flow of what others do in terms of ukog and angs and farmouts and drilling scheduled for the porcupine.

I expect it to be more of the same for 2018 and 2019.

However slowly its gearing up though and the foundations are being laid. I believe a successful strike in the porcupine by anyone and all hell will break loose with majors drilling 6 to 10 well programmes. its politically stable country.
I think the company maker will be corrib north in 3 to 4 years.

we just need a bit of luck
Tacuma
Posts: 102
Off Topic
Opinion:No Opinion
Price:5.75
Re: AGM
Sun 12:07
Well put minimil, we are bumping along the bottom in terms of cash generation, the three wells producing, Whisby, West Firsby and Crosby Warren are just not enough at 100 bopd. and now that P2304 southern North Sea has been sold for beer money, we still have 6 non productive interests onshore UK. that need progression. Along with these we are now looking at more including 'The Atlantic Seaboard, North West Europe, Mediterranean and North Africa.' according to the latest shareholder newsletter of the 14th.
I re-iterate, if Hugh is overseeing these latest possible acquisitions, is he not spreading his executive duties too thinly? Should we be considering a pseudo separation of production from acquisition / farm-outs? Does 100bopd support the proposed new ventures? Is this too much for a CEO to manage effectively? There's no doubt as to his ability in acquiring new assets and securing farm-ins, his record shows that. I do however, believe that we will remain static until metal hits earth and the markets can see actual production, the Irish Atlantic is a long way off from production, whether some of this boards posters like it or not, that's the reality.
Just saying, that's all.




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