Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As a LTH and considerably underwater, I fully share the frustration of fellow holders. However, we have had excellent news over the last couple of weeks effectively removing the barriers to success which have led in the main to where we are today.
With the Irish government giving the green light to offshore oil exploration and Lincolnshire CC withdrawing their objection to drilling at Wressle its only a matter of time before the market / investors wake up to the true potential.
We have also seen over the last couple of weeks that many retail investors are watching this and will jump in on the next positive news.
With relatively few shares in issue and a lower market cap than most of our peers, EOG has significant upside IMO and I continue to add to my holding.
This might help
http://www.europaoil.com/navchart.aspx
Mr Daniel Levi (Sinner) @BrokermanDaniel Lot of positive rumours circulating on Egdon/Wressle. It would seem that an agreement maybe close that would allow production. Of course until it’s confirmed it’s only rumour etc.
Watch the share price go if this happens. We can but hope.
Morocco news must be imminent!
From the shareholder newsletter:
The final piece of administration that needs to be completed is the bank guarantee, which is linked to our Moroccan branch office and Moroccan bank account. We are working hard to complete this final round of documentation and once in place we will sign the agreements with ONHYM in Rabat.
Come on Hugh, get on Twitter and tell us you've booked your plane ticket.
When will Hugh realise that currently no one appears interested in Ireland, the share price tells you that. Now, if Hugh was to put out a RNS saying that either Holmwood or Wressle have been approved the share price would likely treble from this depressing low. Therefore, in 2018 Europa should focus resources accordingly, 90% to UK onshore and 10% to Ireland. Let�s hope Hugh and team have read LHAG�s newsletter 58 and are preparing a robust response. 6Ps: Prior Planning & Preparation Prevents Poor Performance, clearly this hasn�t been the case during Hugh�s tenure.
Another example of total lack of drive from Hugh and his team. Surely, he has answers to deferral reasons 1, 2 and 3 and regarding the informative he just needs to book a room in Coldharbour, invite all interested parties, listen to their absurd claims and tick the box. That�s all it is, a tick boxing exercise to say consultation has taken place with all parties, because as we most surely know, LHAG are not interested in resolution or compromise, they have one objective, which is to prevent drilling at all costs. The sooner Hugh realises that, grows some balls and fights fire with fire, the better. Not sure he has it in him though! The next RNS should say �due to my total lack of drive and capability, Holmwood exploratory drill is pushed back to Q2, unless of course I fail again� As I said, not a hope in hell.
In my opinion, another year of poor SP progress following the previous 5 years of poor SP progress under Hugh McKay�s tenure. SP performance over the last 6 years has been dreadful. Back in August 2011 �On appointment, Mr Mackay will be granted options, expiring after ten years from the date of grant, over 5,000,000 ordinary shares with an exercise price of 13p. The share options will vest in five equal tranches when the share price of the Company has been at or above 25 pence, 35 pence, 45 pence, 50 pence and 60 pence respectively for a period of 30 consecutive trading days�. Hasn�t got anywhere near achieving that performance level or even the exercise price, so recently lowered the bar and granted options at 6p vesting at 10p! Outrageous. What have we to look forward to in 2018? - Wressle goes into production: I believe this will happen and should lift the SP - Holmwood exploration drill Q1 2018: Not a hope in hell in my opinion, neither will it happen in Q2, Q3, Q4, if at all. LHAG will continue to run rings around Hugh and his team. - Ireland: not sure what events will lead to a �meaningful� farm out so not expecting much there either. - SP remains range bound 5p-9p: highly likely I am firmly of the belief that management changes are required to have any chance of realising our fantastic asset base in a timely fashion and my vote is placed. I believe Proxy votes need to be in by 8th December. Hopefully the large investors see it the same way.
Sorry but what on earth could anybody have done differently? This is about dealing with councillors who give more weight to emotional arguments put forward eloquently by LHAG and the rest than technical detail provided by the planner. The sooner Europa and people like yourself understand this the better. As I said before, Hugh needs to grow some and start thinking out of the box. I would: Request a detailed response from the Chairman explaining the reason the application was deferred. Request also, that each councillor do the same along with bullet points identifying the issue(s) in their mind and what is required to secure their approval. This approach throws ambiguity out of the window and assuming Europa can satisfactorily provide resolution to issues tabled then there should be no surprises at the next meeting. Of course, some of the councillor requests will be absurd, but better to confront them prior to the meeting and perhaps get them dismissed than risk yet another failure. Good preparation is essential, Hugh needs to step up his game, it is simply not good enough. Einstein�s famous quote on the definition of insanity �doing the same thing over and over again and expecting different results�
Poor preparation, poor representation. Europa are clearly inept at dealing with planning committees. Another win for LHAG who are always well prepared and always well represented. LHAG have been running rings round Hugh and his team for the last 6 years. Not good enough.
Rudey, I am well aware of that which is why I wrote "Hugh and his peers". Re your other point, I would just like to change it slightly; Holmwood has had years and years of LHAG running rings rounds Hugh and his team and wouldn't hold my breath about it ending this autumn. That said I hope it does, Wressle is approved and Drombeg is full of oil.
What does Hugh need to do: He and his team need to do a lot more to get the drill bit turning at Wressle and Holmwood. Wressle was tested and proven commercial over 2.5 years ago!! Clearly, we can all say, “well we tried but kept getting overturned at the planning committee meetings”. Such a delay is not acceptable in my book and any other industry. Einstein’s famous quote on the definition of insanity “doing the same thing over and over again and expecting different results” That’s what Hugh and his peers appear to keep doing. Winning over the planners isn’t enough, hold public meetings, find out who the local movers and shakers are, leaflets, find out who is on the committee do some research and object if there are obvious conflicts of interest. Etc,etc I repeat, LHAG have and continue to run rings round Hugh and his team. They may have lost the battle but they certainly haven’t lost the war until the drill bit turns.