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I thought the jet pump did not require a workover rig. Is it possible they can open up the Wingfield flags and co mingle?
Serif thanks for letting us know good stuffđź‘Ť
Picture on UJO Twitter of Wressle workover rig in place yesterday - presumably should mean news very soon of jet pump installation.
There’s always options, but best outcome for shareholders if they can’t farm out Ireland would be takeover/merger - with Wressle and other producing assets there is much more value here than reflected in current SP. Other routes - eg developing new assets might still be very profitable but would take years to monetise - anyone here want to wait another 5 years for that opportunity?
There're plenty of options if Inishkea f/o is not possible. The board know that there is a sizeable rump of disgruntled shareholders here ( see the last Agm result) so need to deliver.
Hopefully we I’ll get the answer in the next 3 months, then I can stop checking on a daily basis and move on with my life with a tough lesson learnt over 12 years.
Agreed. If they can’t farm out Ireland I don’t see what unique expertise or assets they bring to the table, so can see no argument against a merger/takeover being the most sensible way forward.in that scenario.
Well the bought value today isn’t very much, hopefully not long until the jet pump is tuned on and the dollars are flowing again. They need to hurry on and get the farm out contracts signed. Time and tide wait for no man. If they fail to get a farm out then a merger would offer plenty of cost saving syngeries, given that the board of directors are getting paid for delivering very little I would certainly support a merger in the absence of a farm out.
I wouldn’t be surprised
Imv there is a background buyer in the market.
Egdon have a new flashy website.
All set to accommodate Eog within?
SO as per rns Nov 22...
"We look forward to working constructively with DECC as we seek to progress FEL 4/19 to drilling, and to attracting additional partners to this prospective licence."
Additional partners? So we are looking at a consortium of sorts.
VernetLes,November looks good then ,good time to add a few I think
Plenty of news to come prior to full year accounts release probably early November. Still unable to work out if the ÂŁ2m escrowed Serenity funds need to be added to the January net cash position.
Hope we here some news next week on inishkia or wressle
Provide gas up to 2050!,that’s how big inishkia could be
Term,yes indeed huge potential
I believe this presentation is more recent, prospects are 1.5tcf and 0.8tcf in size. An Inishkea farmout would unlock significant value:
https://www.europaoil.com/wp-content/uploads/2023/05/FEL-4_19-Summary-Overview-nvn.pdf
@isdeer ..agree farm out = life changing sums if drill hits. Perhaps 20 or 30 X
Re 3/19 .potential 1.2 tcf gas
https://www.europaoil.com/wp-content/uploads/2021/05/200616TheEdgeFEL3-19_002.pdf
Yes DNO took back the licence in order to surrender it as they got tired of paying the licence fee and Ryan was simply not signing off the transfer of the licence to EOG. All pre Ukrainian war of course.
Re 1 in 3 for Inishkea - this is the standard drilling risk on any such prospects - roll in the commercial and tax benefits of the project then if we can get the required political backing, it will get the farm in.
Didn’t
Government did sign off the transfer in time I think
Correction ...FEL 3/19
Does anyone know why DNO took the Edge 4/19 licence back only to later relinquish. Makes no sense.