Beware - Appraisal Well Information22 Sep 2022 12:34
Everybody knew that it was an appraisal well, but nice to see some posters trying the ole misinformation tactic.
From RNS releases;
2nd March 2022
The Fundraising and any requirement from future cashflows will fund the acquisition by the Company of a 25% interest in Serenity by paying 46.25% of the appraisal well cost, equating to a 1.85 to 1 carry (the "Carry").
21st April 2022
· Europa is acquiring a 25% interest in Serenity by paying 46.25% of the appraisal well cost, equating to a 1.85 to 1 carry (the "Carry").
30th May 2022
Europa Oil & Gas (Holdings) plc, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, is pleased to announce that i3 Energy, as operator of Block 13/23c, has entered into a contract with Petrofac Facilities Management Limited ("PFML") to provide well engineering, operations management and operator services for the drilling of the Serenity appraisal well.
1st Aug 2022
The Serenity appraisal well, an important near-term catalyst for Europa, has the potential to prove sufficient recoverable volumes to justify a standalone development and could deliver significant near-term value to our shareholders."
Think however, we can all agree on that the terms 'plug and abandoned' should have been at the end of the RNS, and also added to early RNS releases about Serenity. Another own goal by our incompetent management.