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Next weeks uplift
Seller looks exhausted.
About to fly....just in time for nexts uplift
Took a position here today, vowed to not invest further into Oil/Gas plays ... but hell, the fundamentals here are very good and I already have a small position in I3E from before. Been watching overhang wash through, seems to be dripping now and hopefully will break 3p very soon. Good luck all.
*is equal to £2M
IE3 has gone up £25M in the last 2 days. EOG lagging behind... but not for long. the equivalent 8% here in £2M lol
Cheap stock to buy at an MCap of £25M.
Can't imagine we'll be sub 3p.for long...
Surely a rig update on the horizon. It's awesome to have a company like IE3 as operator with a net worth of £350M and rising
Is this right?
De-risking 197 mmbbls STOIIP (P50)
@ 25% EOG
@ $5 a barrel: In the ground price.
= $246M to EOG
Or
£202M
To sell on.
The current market cap barely accounts for the wrestle holding alone no? £26M???
And it’s an appraisal well? I.e high chance of success?
Troajan,....With oil around current levels ($99 a barrel), Serenity & Wressle development, as I understand it, should have tax (windfall profits tax) benefits, for EOG.
BW
wraith
and going by the volumes,of late....eog is starting to gain a bit of traction
nitezzzzzz
brent back up to $99 a barrel.
Nicely put, VeryHappyBunny,....EOG, has a nicely balanced portfolio, ( https://youtu.be/dXDiKBhQSAo ),.....looks like Morocco, could me massive, ( https://www.europaoil.com/wp-content/uploads/2022/06/220609_EOG-The-full-package.pdf ),....Inishkea drill-ready ( https://www.europaoil.com/wp-content/uploads/2022/07/20220706-Proactive-FINAL.pdf ),....producer,....I'm happy, to be an EOG shareholder.
BW
"the pressure on Mr. Ryan must be huge but he seems adamant not to budge; I'm secretly (openly) hoping he breaks like a dam and concedes or gets removed for his post."
Thing is Ryan is the kingmaker in the Irish Goverment, head of The Green Party. He goes or gets sacked, the Irish Government falls. He has them by the short and curlies. Would the other parties of the coalition risk this, judging by regular MP's standards..by guess would be no.
The only thing that would probably do it, would be the EU, telling them to drill in that area.....for the benefit of the EU itself.
@HerefordBull I partly agree on Inishkea, the pressure on Mr. Ryan must be huge but he seems adamant not to budge; I'm secretly (openly) hoping he breaks like a dam and concedes or gets removed for his post. He has ignored so many red flags it will be dangerous for Irish citizens especially for the coming Winter. I suspect we will have a decision latest around 2023 Feb as the European embargo of Russian oil will kick in and oil/gas prices will skyrocket yet further!
I'm not so pessimistic about Morocco I think this is just a matter of time, another year or so!
But you are right we have two eggs in our basket Wressle and Serenity, ( with Serenity being our company maker ).
IMHO
Agree Tovoc,...I was initially holding, mainly for the Inishkea prospect in FEL 4/19 in the Slyne basin, near the Corrib gasfield,....not any more, Wressle has performed much better than I had anticipated, plus the outlook at Wressle, as you have referred to, is looking very good, (IMO).
I will now hold, for Wressle alone,....looking forward, to our Serenity drill.
BW
https://www.europaoil.com/wp-content/uploads/2022/06/220609_EOG-The-full-package.pdf
I think everyone (company and Tennyson) focuses on Wressle and Serenity for valuation purposes: Ireland and Morocco are long shots/ totally discounted, falling outside core value of 7.8p.
Sorry guys. I am completely discounting Ireland and Morocco, for me it’s all about Wressle and Serenity. Those two alone are worth a far higher price than we’re at currently
Tovoc, it’s good to be reminded, we will kick ourselves if we miss this opportunity.
I think that's the KEY point: Wressle is a literal Gold Mine; which can carry the SP to 6p-10p by itself as we continue to develop the field.
Wressle is producing far in excess of what was expected and we could only be utilising only between 30%-40% of its full potential.
We are currently only producing from the Ashover Grit layer; hopefully once the Gas issue which is holding current production back to approx. 800 bopd average is sorted out, oil production will INCREASE to between 1200-1500 bopd, plus we get loads of money for the Gas being produced on top which is currently being flared.
Remembering this is just oil/gas from one layer generating lots of revenue; we still have two other layers to develop!
Also we are in an era of very high oil/gas prices which is here to stay for at least a couple of years, especially in Europe.
For those worried about buying Europa it's important to remember Wressle alone can carry our SP higher with lots more development to come. (Do your own research too)
Yet we still have Serenity, Morocco and Inishkea yet to come.
IMHO
All 3 Wressle partners have a P/E ratio of 4, all have a market value roughly equivalent to 4 x yearly profits. With Wressle not fully developed yet, they are all cheap as chips.
boltok,
You have just summarised the investment case here, even without the Serenity drill EOG is undervalued, Wressle alone carries the SP and that’s still to be fully developed, with the Ireland and Morocco licenses it’s a stonking buy at these levels.
eog net profit will be around £6 million as they have a very low cost base.
that alone should be worth 6p on PE of 10. Then we are also waiting for updated reserves for wressle which is larger than thought. ALSO two more production wells to come from wressle, AND gas monetisation.
then u have drill of serenity, so very undervalued
we have new worries from newbie investors though, damn
Brakes are coming off.
The afterr hour trades yesterday looked like the last of the big seller.
Targetting 25mmbls net recoverable to EOG. Too cheap for the upcoming funded appraisal well