Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I had filtered him but unfortunately you get to see his posts before you log in. Back to SeaPulse though.. if they are the ones this is even better than an Oil Major because they are completely committed to their investors to deliver the 12 wells in the time frame and the partnership with Maersk means that they have the rigs ready to go. If we get an announcement on this the SP will BOOM
You agree with me then. But I would suggest you study the presentation carefully. These are three drill ready targets off Ireland. 2 Oil and 1 Gas. Nowhere do they mention 100% stake. If I wanted to place Well 10 (a gas well) on a map I couldn't have put it closer to Inishkea if I tried. They describe this new concept of a high impact 12 well JV over three years as SuperMajor scale exploration. They have funded 70% of it already and you don't get the funds unless you know where you are going to drill. There is more but maybe you could do your own research on it. Now why oh why was Hugh so keen to get the site surveys done this year?
According to the presentation Seapulse intend to drill three wells off the coast of Ireland - 2 Oil and 1 Gas
Now who do we know that has a potential farm in partner for 2 Oil and 1 Gas wells? That is the plus (there is more than one)
Minus is that SeaPulse couldn't be defined as an Oil Major - however what if they are joint partners in the Farm in?
Can't imagine where this SP is going if we get an announcement like Seapulse farming in - their strategy is clear drilling 12 wells in the next three years and they have the rigs ready from Maersk. Have a look at the drill program as well which has all three Irish wells one after the other.
Huge!
Brilliant Find Wraith - I have been watching out for news on Seapulse since they announced it last December. Their Website is still blank so if they are our partners in waiting then they are holding back news for a big announcement soon. All the clues are there in the presentation. They would need an Ireland office and Operator licence so delay there as well. EOG are a perfect fit for them. Here's hoping.
to intervene but there is at last one thing I agree with DickHead and that is that this board and the comments on it have absolutely no influence on the SP. The group of new investors in EOG that I have joined do not,as far as I can tell, comment on chat boards, they belong to a purely private group where the messages are positive and complimentary. As for being a 'chartist' - well you either are or you aren't, but irrespective of that serious investors acknowledge the existence of chartists and the effect their chart based buying or selling has on SPs. As to what happened with UCG, I think you might find the answer in Australia. Mr Cluff had no chance after that accident.
I am sure that the SP will now continue to rise throughout the year. I think somebody mentioned Wressle timing - well the earliest the planning inquiry can be held will be June with a decision 6 weeks later - that decision should be favourable but will probably include conditions .. site work and approval of conditions will delay things so production maybe this time next year? Further delay doesn't really matter as we have cash in the bank plus the bonus of the positive news from the Inquiry when it comes followed by the excitement of actual production .. Good news flow. I'll end by saying chartist or no chartist the one thing a chart tells you is that the SP cannot continue to climb as rapidly as it is doing at the moment for ever. Spot the peak and be happy. I am looking for 12p at the moment.
I don't think there is much chance of Europa existing as such should Inishkea come in - however - let's say they continued through to production - 15% is the norm post farm in with full carry (remember the two other wells) Production would cost at least one further appraisal well and say three production wells (£120m) Tieback (£120m) Possibly / probably farm down to cover that cost to 7.5% By the time that all happens and into production perhaps able to produce 50% of Corrib capacity (rising) Which would leave EOG earning about £15m a year NET and on average for 20 years. I think I would rather take the money upfront and redistribute to shareholders because in 20 years time I don't like the look of the O&G industry .,,,, Glad more folk are Dreaming On here .....
When looking at the potential of a prospect you rarely consider the High side, maybe the mean or even the P10 but look what happened yesterday in Cyprus. A 5-8TCF Gas discovery - far more than expected. Our high on Inishkea is 3.5TCF - imagine discovering that or beating that even! Not just huge for EOG or even Ireland. The Cyprus discovery is being talked of as having implications on European Energy security! Not that it is related in any way but I always found it peculiar that millions of pounds were spent recently on the Moffat Gas interchange to allow for flow reversal (previously could only send gas to Ireland not receive it) Imagine in 18 months time EOG sitting on 15% of 5TCF!! Thats about 2 BCF per 1000 shares! Dream On !!!
For investors who have arrived here at this SP (I know there are longer term holders with significantly higher averages) the risk ratio is significant in that it will attract further interest in EOG as the drill approaches and with the added benefit that by the time of the drill we will also have had hopefully positive news from Wressle. All going well before spud the SP should multibag from here with the opportunity to have a free carry through to results. So a free bet on a 3/1 shot that will payout multiples of that if it comes in plus of course an additional two wells further down the line that can do the same thing. No brainer if you ask me.
Good point mate .. the deal on the table is for the three drills .. fair enough .. however the other interested parties are presumably only looking at Inishkea. A nice sweetener if Hugh can produce a couple of partners for the Oil Major as well.
Investing in EOG at this level is a no brainer. Inishkea will be drilled. The application for the site survey has been completed and a placing last year raised the funds for that. All that is needed after that is the standard well application process which Nexen/CNOOC started for their drill this year in November so plenty of time to grab a farm in partner or two or three. If you buy EOG shares at this level now you would be mad not to sell some at a considerable profit prior to the spud of the well. There will be plenty of takers willing to have a punt on the success of the drill so plenty opportunity to sell some and have at least a free carry on such an exciting prospect.
But by November you will also have the Big Plus of Wressle should the inspector decide in our favour - do you really think our SP will be 3p of that goes our way? Of course not.
And just to make matter even more exciting we will have the Iolar well drilled later this year on a prospect where success will ensure our licences are real farm in prospects.
Oh - I forgot - there is an Oil Major waiting to farm in to our Inishkea prospect as we speak - what is not to like about this share .. the only downside I see is the crap from one poster on here .. soon as he is gone this share will take off.
Of course this could be called a ramp but it isn't one without some justification. There is a farm out in progress and news of that will send the SP soaring .. so better to soar from a higher starting point in my opinion. I have averaged down over the couple of months and will continue to accumulate as funds permit. Happy to see my average increase as well in due course.
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