Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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It seems to have gone very quiet regarding the 2 vacancies that WH is determined to fill. Whether necessary or not has already been debated. It would be ideal in many ways to see the 2 founding members appointed and not some unknown pals of WH??
Did I imagine it or was there meant to be a farm out in Ireland by now??
Sold down 300K shares, Will now clutching at straws with W.Africa. I have kept 200K shares on bolt-from-blue potential from Ireland. Bought some WDS with a dividend yield, GLA.
Held for well over ten years - sold half - don’t believe things will ever change - just hoping someone will buy us out before they squander the wressle money - last message from me but this board are over paid and incompetent
Some interesting videos on oil and gas in Africa
Sure we may as well do some research. It's fun and better then giving out all the time.
https://youtu.be/XT1gwuFfvgc?si=TLkcg2VueqE5-Az0
Well it needs to be a very different prospect type from the Morocco waste of time and money - no more 4 year projects which end up with wonderful prospects that no one wants to farm into. We haven’t had much luck abroad in the past - even nearby Ireland is stuck. But if we are going for exploration no point in looking in Europe as the politics will kill it off.
Let's see what happens
Europa Oil & Gas (Holdings) plc is an AIM-listed exploration and production company focused on developing its balanced portfolio of assets in the North Sea and Atlantic Ireland, supported by revenue from onshore oil production in the UK.
Nothing good will come out of Africa, companys this size just get spat out over there. If no dilution (yeh righto) then it has to be some sort of loan, backed by hopefully by steady production at W1. Its my opinion you are entitled to your own.
Interesting interview from last month with Africa oil week 2023
https://youtu.be/lFdI2pHI9Hk?si=Vm44tdQYNz_fjXRO
Ridgtile, when has Europa ever been “just” an UK oil and gas exploration and production company? And how do you know the terms or timeframe for any possible new venture in West Africa?
You need new prospects to drive interest and (hopefully) the share price.
As previously noted, both the current CEO and founder of Europa support new ventures.
Https://www.farmoutangel.com/ Africa full of opportunities, let's hope Europa choose very carefully
The reason I and many other people invested here is because it is supposed to be a UK oil and gas exploration and production company. Any packing of suitcases for the west coast will more than likely take at least four years to come to any outcome good or bad. Payed for by an enormous loan at crazy rates because its backed by an oil well in yorkshire with no other means to pay should the well have issues. Sounds like a total disaster in the making to me and these numpty's cant read geology on their own doorstep hence the SP never mind on another continent.
That was a very positive presentation. I am going to do some research on West Africa. ,😎👍
Not what I saw in the presentation. He was very clear - no more Serenity type adventures with dilution. West Africa - if that’s what it’s going to be (like it or not) - would come out of Wressle revenue.
Wressle pays the wages and any new venture is paid by shareholders . I know its an exploration company but Serenity was reckless , a £7.5m dilution / cash raise that vanished along with the market cap with it . Dilution, followed by bad news is never recoverable . 3 p before crash would be like a market cap of £30m + again. Never gonna happen . Who's paying for West Africa ???????? . Nothing on the horizon except a slow drift down ......
Well there you have it, both current CEO and Europa founder agreeing that new prospects are required. Interestingly the focus on West Africa, which is a highly desirable location for the majors.
I thought they said at the investor meeting on 8/11 that it was back in production and that they would inform us of stabilised rates once established. They said 2-3 weeks at that point, so as it’s an Egdon timescale 4-6 weeks is presumably what they meant - which would be any time from now onwards.
There doesn’t appear to be anything visible on the recent site photos/videos that should prevent a return to full production and an update to the market. So perhaps they’re awaiting for some form of additional permit, i.e are they now producing higher water rates once the taps are open and do they need a permit to dispose of the additional water?
Any idea what they mean by "clean up", isn't that a continuous process performed by the separator or is it something else in this context?
Thanks for the reminder Itsawrapp..we could do with that further announcement just to calm the nerves that at least one project is going well.
RNS 08.11.23
Europa Oil & Gas... is pleased to announce that the W1 well at the onshore UK Wressle oilfield has resumed production. The jet pump and the associated surface equipment is operating as expected and since production resumed the W1 well has produced at gross rates of over 950 bbls of oil per day ("bopd"), compared to approximately 750 bopd prior to the jet pump. The well is now on continuous 24-hour production and is expected to continue to clean up over the course of the coming days. Once stabilised production is achieved a further announcement will be made.
The photos on UJO twitter today show"some of the latest equipment installed to restore production"
I'm unsure whether that meanes production has restarted or not. A lot pipes valves and green storage tanks. Are those tanks for waste water.?
Come on EDR , give us a better update when we are getting the revised CPR .and production.
"Let's see what tomorrow brings"
Another drop.