Member Info for DreamOn

a) 10.3p
b) Moving to an FEL is just an unnecessary expense at the moment as it would require a negotiated work program and all the work has been done / is being done up to a well being drilled which is an FEL2 commitment. EOG would also have to relinquish 15% I think of the licence as well.

First in response to Ivans - you should read the thrid paragraph again I think. All the licences that the majors are interested in in the Porcupine have been awarded. A ban on the issuing of new licences will certainly appease the greens but has no impact on current exploration plans.

ENI are now progressing the Dunquin South Well with a site survey planned in June.

Stena Icemax is at anchor off Falmouth clearly waiting to go and drill Iolar.

Share options were granted to the management team at 10p a share because they elected to take a pay cut during the low OP years. Hugh has a significant personal investment in the company - can't say he will be too happy about the SP either. Factor in though the real depression at the moment over Brexit. My business is way way down. Habitual spending is fine but impulse purchases are now non existent. It will take a long time for that to recover if ever.

Best thing you can do is filter yourself. You've been bitter since you were NGMS and hung on too long with your PVR shares.

I was dreaming - they are still there

Hi - Am I dreaming? But has the Seapulse presentation mentioned before on here been altered? I am sure there was a map on there showing the three targets off Ireland?

Hi Wraith - all eyes then on Stena Icemax currently at anchor off Gibraltar. They will be waiting for imminent orders otherwise they would have returned to home port of Las Palmas.

That's interesting porkpies - the old Antrim / Kosmos licences I think.

I did have a quick look at the gas well and it was relatively close although the presentation doesn't make any note of what percentages they would be looking at to retain in the licences and if this was factored into the prospective resources they state.

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.

These seem to be mostly T20 rollovers from the surge of interest 4 weeks ago

The interims will be in a couple of weeks and these will show the cash from the Placing with reduced production due to the clean up. Obviously Hugh will have to comment then on the topics below.

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 !!!

https://www.proactiveinvestors.co.uk/mediaFiles/stocktubeDetails/12372/europa-oil--gas-highlights-inishkea-potential-as-farm-outs-continue-12372.html

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.

is that Europa Investors like the RNS yet the most recommended post on here is asking Dunderhead to leave. Bye bye.