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Think investors are missing the fact that GePetrol (Equatorial Guinea government-owned oil and gas company) owns 20% of the license. This deal is going through.

Nigel. Sell some or all of the UK assets to build up the balance sheet and focus on EG. Better political environment and oil majors moving in and hungry.

Nigel. The partner is buying into the licence and worked data and will most likely carry the full cost of the drill plus substantial back costs. As I said a successful deal will likely lead to many multiples of today's share price.

Cash position better than expected. Costs well managed. Farm out of EG-08 to a major is highly likely anytime soon, followed by a share price many multiples of what it is today. I will be adding.

Itsawrap. Haven't time to check your 130M director shares, but that's only 13 per cent. Some way to go to 75.

Let's focus on the fact that we are a month into Heads of Terms with a major. News of terms agreed could drop at any time. Then we'll likely be pushing 3p, not 1p.

My preference is to sell a chunk of Wressle and buy more licenses in Equatorial Guinea. Favorable regime, big oilers moving in.

Don't encourage him!

Re your cash point. Europa are on the brink of a massive farm out with a major, which will likely carry significant back costs.

Knowing you're a trader, people can judge your posts accordingly.

Itsawrap 12th August "I sold into the spike"

Typical itsawrap. Sells out then deramps.

My preference is to sell a chunk of Wressle and buy more licenses in Equatorial Guinea. Favorable regime, big oilers moving in versus Miliband and crew in the UK.

Upwards of 3p when terms agreed, so who's bothered by the current 0.1p movements. Now is the time to build a position.

Https://www.linkedin.com/posts/europa-oil-and-gas-holdings-plc_eog-equatorialguinea-activity-7358037205891567617-Aeqe?utm_source=share&utm_medium=member_android&rcm=ACoAACQ_3foB64Xv-D8B7Pd6QcHbiulVtLpVDE4

Keep an eye on the comments; they might provide clues.

Flombo10: Correct, that was one of the resolutions that failed. The other that failed was the right to raise equity. For that, they would have to hold a GM and get 75% of the vote. Good luck with that, considering retail now holds an even larger percentage of shares.

Maybe the BGF sell off suggests a wider move away from UK based assets. Sell some Wressle for more EG licenses in a fiscally favourable regime?

Keep in mind; likely 3p+ on agreement, 5p+ on run up to drill, 10p+ on success

Expect this to move very quickly to full agreement, when you consider that GEPetrol (Equatorial Guinea's national oil company) has a 20% working interest. Therefore, Equatorial Guinea ministerial approval should sail through. News on completion could land anytime soon.

And here we go, all the naysayers, disgruntled investors who sold out and punters who have never posted on this board, quick to mention placing. The deal will likely be a full carry on the drill and substantial back costs. Add that to the revenue from Wressle, absolutely no need for a placing.