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Pin to quick picksEuropa Oil & Gas Share News (EOG)

Share Price Information for Europa Oil & Gas (EOG)

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TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

Fri, 28th Jul 2023 16:34

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on xxxday and not separately reported by Alliance News:

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Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Net asset value per share at June 30 rises to USD100.01 from USD99.47 a year earlier. First half gross revenue falls to USD54.78 billion from USD55.99 billion a year earlier, while pretax profit falls to USD1.96 billion from USD2.10 billion. Interim dividend rises to 60 US cents from 55 cents. Executive Chair Ben Keswick says: "The group delivered a strong overall performance in the first half of 2023, as the business continued its post-pandemic recovery, with overall results exceeding pre-Covid levels seen in 2019...We are encouraged by the results from most of our businesses in the first half and are optimistic that earnings growth will continue in the remainder of the year. The group has a strong balance sheet and will continue to focus on opportunities in its core, growing markets in Asia, to create sustainable long-term growth."

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Oberon Investments Group PLC - investment management, wealth planning and corporate broking group - In the financial year that ended March 31, pretax loss widens to GBP3.9 million from GBP580,814 a year earlier. Turnover falls to GBP5.0 million from GBP6.7 million, while administrative expenses rise to GBP8.7 million from GBP7.5 million. Says it has been a year of investment for the company. Looking ahead, says: "We remain aware of the challenges of a stressed macro-economic environment and all the challenges the UK faces in a period of high inflation and rising interest rates, but we view the Oberon businesses as extremely well-positioned to grow in any market conditions and has the right team and strategy to deliver for shareholders and employees and other stakeholders in 2023 and beyond."

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DP Poland - London-based operator of Domino's pizza stores and restaurants in Poland and Croatia - Non-Executive Director Andrew Rennie to resign with effect from October 1 after his appointment as chief executive officer at Domino's Pizza Group PLC from August 1. Begins a process to identify a replacement non-executive director. As part of his resignation, says the board have agreed Rennie will no longer subscribe for 3.2 milllion second subscription shares, as planned following the acquisition of All About Pizza DOO in July last year. Says Rennie will "remain a committed and supportive shareholder in respect of his current 2% shareholding in the company".

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UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Receives petition brought by one of its subcontractors KML Engineering Ltd in the High Court in Hong Kong regarding Univision's outstanding debt of HKD2.1 million, or GBP209,863, to KML. KML wishes for UniVision to be wound up as a result. A hearing has been set for September 27. Univision says it continues to negotiate with KML and will defend and oppose the petition. Also notes previous announcement and says it remains in negotiations with potential investors who are looking to make a substantial investment in the company. If a substantial investment was to occur, UniVision says it is confident it will be able to meet the petition, "should this be necessary". Says further announcements will be made "if and when appropriate".

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Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Assumes operatorship of licence PEDL343, which holds the Cloughton gas discovery, from Egdon Resources PLC. This follows approval from industry regulator the UK North Sea Transition Authority, effective from Thursday. Egdon also notes transfer of operatorship, which is "part of a process of ensuring that Egdon prioritises core projects whilst ensuring other potentially high value opportunities are progressed at pace". Partners in PEDL343 are now Europa at 40%, Egdon at 40% and Petrichor at 20%. Europa Oil & Gas says the Cloughton field was discovered in 1986 and encountered gas throughout the Carboniferous section. Notes the well tested at rates of up to 40,000 standard cubic feet per day on natural flow. Says: "however, with the right completion and production optimisation techniques, the company believes that a well could flow at 6 million standard cubic feet per day." Chief Executive Officer Will Holland says: "The Europa technical team is now working through the subsurface data to calculate a range of probabilistic recoverable gas volumes and will produce a conceptual development plan for the field, which we believe will demonstrate the material potential value of the licence. There is undoubtedly a significant volume of gas within the structure, which could be brought online relatively quickly and would displace imported gas volumes."

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Live Co Group PLC - Says while "good progress" is being made with its 2022 annual results, these accounts will not be published by Monday next week as previously indicated. Says it will update investors in due course. Last month, Live Co appointed MHA MacIntyre Hudson, part of Baker Tilly International, as its new auditors. At the time, it said that whilst the preparation of its 2022 financial statements have been ongoing, the accounts were unlikely to be published by June 30, as required by the AIM listing rules. Accordingly, the company shares were suspended from early July.

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Science in Sport PLC - London-based performance nutrition firm - Says 45% of shareholders reject annual general meeting resolution on receiving 2022 financial accounts. Meanwhile, 33% reject vote on authorisation to allot shares, 40% reject proposal on non-pre-emptive share issues and 41% reject vote on issuing shares for cash for capital investment. Science in Sport says the latter two votes did not pass as special resolutions. Says the board will engage in discussions "with certain of its major shareholders to better understand their views".

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nanosynth group PLC - London-based company specialising in the synthesis and application of nanoparticles to create new and improve existing products - Says Chief Executive Officer Mark Duffin resigns with immediate effect. Says Gareth Cave will succeed Duffin as CEO while the company continues to consider potential funding options for the business. Trading of its shares on AIM remain suspended. Says furtehr announcements will be made "in due course as appropriate". Last month, nanosynth said it would be unable to publish its 2022 results by June 30, the deadline under AIM rules. As a result, shares remained suspended.

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By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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28 Oct 2024 14:34

Europa Oil shares dive as loss widens amid big exploration costs

(Alliance News) - Europa Oil & Gas Holdings PLC on Monday said 2025 will be an exciting period for the company as it reported a widened loss due to higher exploration costs.

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28 Oct 2024 10:51

Europa Oil reports challenging financial performance

(Sharecast News) - Europa Oil & Gas reported a challenging financial performance for the year ended 31 July on Monday, as revenue declined 46% to £3.6m, reflecting reduced oil production, including a three-month shutdown at its Wressle site, and lower realised oil prices.

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18 Oct 2024 10:30

Approval for more development of Lincolnshire oil field to be revoked

(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC said on Friday they expect planning consent for further development of the Wressle field in Lincolnshire to be quashed, following a legal challenge to their application.

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13 Sep 2024 12:49

IN BRIEF: Europa Oil & Gas opts not to extend Serenity licence

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Says that it does not intend to apply to the North Sea Transition Authority for an extension to the Serenity licence, which is due to expire on September 30 of this year. As a result, the incurred costs associated the licence that Europa Oil & Gas has capitalised on its balance sheet will be written off.

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13 Sep 2024 11:23

Europa Oil opts not to extend Serenity licence

(Sharecast News) - Europa Oil & Gas, an company focussed on oil and gas exploration, development, and production in the UK, Ireland and West Africa, announced on Friday that it would not apply for an extension of the Serenity licence, P2358.

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3 May 2024 20:29

IN BRIEF: Europa Oil & Gas withdraws from UK offshore licensing round

Europa Oil & Gas (Holdings) PLC - UK and Ireland-focused oil and gas exploration, development and production company - Updates on the company's application for a licence as part of the 33rd UK Offshore Licensing Round that closed in January. Says the North Sea Transition Authority proposes a marriage between Europa and another party for the Licence. But, Europa decides not to accept the proposed marriage and also notifies the NSTA that, if the NSTA subsequently decide to award the Licence, in its entirety to the company as the sole owner, Europa would decline the offer. Europa explains that since its original application various aspects of the operating conditions and the fiscal environment have changed and remain uncertain. This reduces the economic and strategic attractiveness of the licence. As such, Europa believes that its resources are better deployed on its existing assets and looking for new opportunities within its core areas of focus.

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3 May 2024 08:39

Europa Oil to decline any North Sea licence offer

(Sharecast News) - Europa Oil & Gas said in an update on Friday that it received communication from the North Sea Transition Authority (NSTA) regarding its application for a licence as part of the 33rd UK Offshore Licensing Round.

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22 Apr 2024 20:03

EARNINGS AND TRADING: Zenova's Kitemark award; Carnival's eyes savings

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and Monday and not separately reported by Alliance News:

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17 Apr 2024 12:21

IN BRIEF: Europa Oil loss lower; eyes opportunity in Equatorial Guinea

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Pretax loss narrows 20% to GBP1.0 million in the six months to GBP1.0 million from GBP1.3 million a year prior. Revenue dives to GBP1.4 million from GBP3.7 million, which it says was due to the three-month shut-in period at Wressle in the East Midlands. Total cost of sales decrease 28% to GBP1.6 million from GBP2.2 million. Notably, reports no exploration write off cost, compared to GBP1.7 million a year prior. Looking ahead, Chief Executive Officer Will Holland says: "As we have alluded to in the past, we are always looking for additional geographies where we can reallocate our inhouse expertise. Such an opportunity arose in Equatorial Guinea towards the end of last year, where we are investing in a very high-quality licence with three drill-ready and potentially transformational prospects."

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14 Feb 2024 12:40

Europa Oil & Gas confirms extension to Cloughton licence

(Sharecast News) - Europa Oil & Gas announced a significant extension to its PEDL 343 licence on Wednesday, housing the Cloughton gas discovery in the East Midlands.

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14 Feb 2024 11:55

Europa Oil & Gas gets extension to PEDL 343 gas licence from UK NSTA

(Alliance News) - Europa Oil & Gas Holdings PLC on Wednesday announced an extension to its PEDL 343 licence in the East Midlands of England, which contains the Cloughton gas discovery.

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29 Jan 2024 10:27

IN BRIEF: Europa Oil hails phase extension for flagship Irish licence

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Says that Phase One of FEL 4/19, its licence in the Slyne basin, has been extended following approval from the Irish Government's Department of the Environment, Climate & Communications.

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15 Jan 2024 13:37

IN BRIEF: Europa Oil & Gas stock down as cashflow lower than expected

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Expects to report free cash flow of approximately GBP800,000 for 2023, lower than forecast of GBP4.2 million announced on Wednesday. Says lower than expected result was primarily due to delayed development at Wressle-1 well reducing revenue receipts for 2023, although it did result in "materially lower" capital expenditure. Says it has sufficient funds to cover expected capital and operational requirements for 2024. Company also reports that its cash position was GBP4.3 million at November 30, and that gross production at Wressle-1 is currently averaging 665 barrels of oil per day.

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2 Jan 2024 11:05

Union Jack and Europa Oil get resources upgrade for Wressle field

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Tuesday said an independent assessment has increased the oil reserves of their licences at the Wressle field onshore in Lincolnshire, England.

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