Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Company should be forced by a vote to intitiate
Jungmana, absolutely correct imo and I was also a buyer at 1.25p today.
The NSTA's approval of the Field Development Plan ensures the Wressle project remains on track to transition from an extended well test to production. Wressle continues to exceed our expectations, generating high levels of production and revenues, with the Wressle-1 well currently amongst the most productive in the onshore UK, producing over 170,000 barrels of oil to date.
Our next steps involve advancing the development plan and consenting process to enable production from the *****tone Flags reservoir where gross Mid-case Contingent Resources of 1.53 million barrels of oil and 2 billion cubic feet of gas have been independently reported, in addition to progressing gas monetisation and continuing to optimise oil and gas production from the Ashover Grit reservoir.
Leveraging the knowhow and experience of our technical team, we are committed to capitalising on the significant opportunities that exist at the field, alongside our joint venture partners Egdon and Union Jack Oil."
Sp seems to be moving north, if the seller is finally out, we could easily get back to truer valuation without being dragged down by seller. TR1 would be nice.
Hindsight is a wonderful thing, but you have to asked why EOG needed to get involved with this drill? A year of just collecting Wressle money, building up the bank balance and then seeing what is available, working on other assets rather than massively diluting this. We were sitting at 3.8p before this dilution was ask for. We probably be at 5p giving lots of LTH the chance to pull out if they wanted. It’s LTH that’s lost out here. Most of the share options the directors had would have been activated during the last few months too.
I really don’t know what the end game for EOG is? If the drill was a success we all know more dilution would happen, and with years before getting a payday for it, would have given us other problems.
That’s £1m ‘loan’ should have been cancelled this morning straight away, as we have no need for it with the £2.4m we get back for this drill and the few million we have from Wressle. But I’m sure we will come up with another ‘bright’ idea with how to spend the money. AIMHO
Have dried up
We were told I3e chose Eog as a farmin partner because they had such a great technical team….. You have to laugh sometimes.
Yesterday I had 400k shares here for the results and today bought a total of 1.3m in 4 trades at about 1.3p .
Way oversold right now imo . Wressle alone is worth a lot more than GBP 11m market cap (1.3p share price). See the valuation of EDR and UJO.
Europas net production is about 300bopd generating good cash , still own 25% of serenity discovered reserve, wressle *****tone development coming soon, then there is the huge Irish gas asset. Cash in hand approximately £5m.
Too oversold right now imho
In fact I just bought some, EOG is undervalued imo.
Who knows Tony, with £2m left from Serenity, up to £3m in cash from wressle etc and £1m UJO loan, they have c£6m in cash with £1m loan to pay back.
Assets 30% of wressle, Uk licenses,25% of serenity and further licenses in Ireland and Morocco, market valuation for this lot currently c£7m. 30% of wressle has to cover this alone.
Im down several k and won’t be selling at this level.
Since the asset, (Wressle), is valued way over current MC, the sale representation right now would have to value that in since we're not in debt and are monetising Wressle succesfully... and if I'm right in thinking we can also monetise the Serenity asset with I3E, that increases value further depending on the costs for our share in the works required.
The market needs to get a grip on companies blatantly misleading people on social networks. This madness has to be stopped, AIM is destroying itself. I am awaiting an exit point for all my investments, where my losses across all sectors are not so considerable. This system is broken, and no one anywhere is addressing the institutional abuse. Anyhow GLA.
Tony, UJO cannot buy EOG now in the market at 1.3p, if that level of buying starts, they will very quickly not be 1.3p. Bottom line is Wrestle has some good value, currently 2.3p it has to be more than that on a sale.
Best just put the whole company up for sale.
It's not a loss until you sell.
But Wressle worth what? Surely represents good value today?
This is my biggest ever loss of n the stock market thanks EOG for teaching me a valuable lesson
And while I’m here , even our equity in Wressle has been sold in the past.
Well according to RNS they're looking to monetise what they have on the Serenity drill earlier with I3E, so all may not be lost and if they can do that, in addition to Wressle... we'll be well good imo
Spelling error but I’m livid. The reset button please.
Spot on Tovoc, We’re in the same boat and this company has continued to slide into oblivion under this management. Europa needs athereset button to be pushed, as soon as possible . It’s been a disaster for me and all other LTH’s
We just can't catch a break. Europa may actually be a BAD luck company.
I've been STUCK here for 10 years.
I have seen share dilution going from 250M to now nearly 1B now.
Wressle is the only success that Europa has had in 10 years.
:-(
Stras20 - Absolutely not. Oddie cannot be trusted, can you imagine how much damage he would do with the cash? The only saving grace here is that EOG are not the operator because he'd be back next month to do the side-track. The bloke is incompetent, and reckless and if he's got any respect from shareholders he'll resign. Serenity should be binned as it should have years ago and attention to the given to the asset that brings in cash, we shouldn't be gambling with it.
There must have been some form of Technical synergy between the teams on the re-negotiated drill site, I can’t see for one minute a minnow with a minority share dictating to the majority holder where to go poking the bit, surely it must have been a mutual decision and a location that provided the most bang for buck at the time based on the information to hand….
or buy it now on the open market for 1.3p a share ?
To UJO, full sale to UJO for 5p? any thoughts. I have no idea but wit Wressle alone being valued at 2.3p and for sure I expect UJO would love to take it off their hands, full buyout?