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Going to make the market cap here look a bit silly soon with those figures and reduced costs carried out.
At $73 Europa's total income will be approx. £4.9M per year.
Many are predicting $80 and even $100 oil!
If no other news on other projects occurs maybe they can spend £1M on share buy back or do a share consolidation.
1 for 10 maybe?
Oil on the up $73.20
Lets see what news come this week, gla
I’d be more than a little miffed if I thought that our senior NED had been dedicating his time and expertise in forming a new venture for his own benefit rather than spending his time trying to enhance the SP here.
Surely it must be tied in with the future plans for EOG , if not he may as well bow out gracefully because you bet your bottom dollar he’s going to spending a great deal of his time forming the new venture called Causeway GT. I wonder who the other parties are with a stake in the new venture., the plot thickens.
Simon Oddie recently said that they were looking to use wells in our existing onshore licences for purposes other than oil and gas production. Also that they wanted to improve the carbon footprint of the company. However, the article read to me like it was a Brian O'Cathain project separate to Europa.
I still think it will be something North Sea related, but maybe we'll know as early as tomorrow.
Well I would love it to be something new and environmentally friendly which could also help unlock our Irish assets. But it’s not “the North Sea” so I wonder if it might just be a Brian thing? Or may be we are putting more than one iron in the fire - wouldn’t that be nice to see some new energy and imagination around EOG. Imagine what a sound financial platform from Wressle could enable us to do then.
@ Soulac, I don't think there is any doubt about it, with the Proactive event and this news it will give him something new to talk about. New and innovative ventures normally attract a great deal of interest in the markets I've found. GLA as usual.
This could be our new venture
https://www.irishtimes.com/business/energy-and-resources/former-petroceltic-chief-joins-in-new-venture-to-tap-into-geothermal-energy-1.4590996?mode=amp&mode=amp&__twitter_impression=true
Agreed itsawrap.
A few chunky trades over the last couple of days.
What has Simon Oddie got in store for us next week? He doesn't tend to go to the trouble of being interviewed with there being nothing to say. Wressle looks to be quiet, so as the proppant squeeze is likely to need some setting up procedures to be undertaken first, I doubt that is what he wants to speak about. Let's hope it's a new North Sea interest.
soulac, note date and time of the 2m, appears to be a BUY at midday yesterday
2mil late trade . Could be last of placing cleared in time for some good news.
Bounced off the bottom for the weekend. Phew.
Or a rollover, looks more like the price being walked down.
Sorry, had to see again what Egdon said on may 18...The operation is expected to be completed and optimum oil production achieved during June 2021.
The Wressle-1 well has been on 24 hour test production since late January with produced oil transported by road tanker to the Phillips 66 Humber refinery and sold under Egdon’s existing oil sales contract.
Production rates have continued to increase and have exceeded our expectations with high quality free flowing oil being produced and no water present. All data confirms the independent prediction that over 500 bopd will be achievable following the proppant squeeze. The well will continue operating on test production until the proppant squeeze operation is undertaken.
mid june
The statement from EDR said we should have results of squeeze mid july, but with proviso that if not successful a sidetrack may be required. ( thats a concern) Anyone know when the squeeze is taking place?
Presumably the 1 million sale now showing at 1.18 price is what took us down yesterday.
Perhaps Simon's lost his balance?
Yep board need to produce some strong news . Though with squeeze coming up and possibly of 240 bopd total production for Eog . Oil at two year high, there would be a lot more interest.
Watch this space, lol
It really is a POO day with oil up and eog down. With oil up, the 120-130 bopd net eog must be producing must at least pay for costs and salary rises, Wressle thankfully is being managed by EDR, although they havn't been fully honest either, but we should be back to 1.8p next week,after squeeze, at least surely. EOG twitter page is saying yet again( yet again) 500 bopd is going to happen at wressle . I will see what other words of wit or wisdom S.O can utter .. Come on squeeze do your stuff soon.
I can’t really believe S.O. is going to make a pitch for investors at a Proactive event next week when his only publicised achievement since the raise some 4-5 months ago is to “reinstate” (I.e. double) his salary! It is time for an update on at least some of the things he has been doing to add value to the company. With POO high and rising, profitable production and time to work up some of the leads advertised in Feb, it’s reasonable to expect something more compelling.
Not doing very well are we. What is going to attract new P.I's to this company ? We'll know when something is in the wind other than BS, when the directors show some monetary confidence here and own more shares than me.
Morocco , Inishkea / Edge, Wressle , new North Sea prospects, re-balancing, POO, Watching this space all mean nothing at the moment. Do we buy even more shares here, or just follow the crowd and go. For Gods sake do something man at the proactive event, we're going so low I'm developing the bends.