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Energy: 'It's an attractive time to be looking at the energy sector' as oil prices fall, analyst says
https://uk.finance.yahoo.com/video/energy-attractive-time-looking-energy-204614424.html
Reminder
AAPG/GESGB Business & Exploration Opportunities Show
Tomorrow at 12:40-13:00
FEL 4/19 licence offshore Ireland. The Inishkea and Inishkea West prospects – Infrastructure led exploration on TCF sized prospects.
“Surely Corrib isn’t an only child.”
Jamie White Europa Oil and Gas
Last year the Interim Results came on the 13th April, so not long to wait now.
“The stock market is a device for transferring money from the impatient to the patient.”
“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” Warren Buffett
As a patient Europa shareholder I’m trying to adhere to these two principles however frustrating the journey is.
Tony, JMort has just posted my own thoughts entirely. As an investor with limited background knowledge of the oil and gas industry I value your opinion, so please don’t stop what you are doing and try to ignore your detractors.
From this morning's Telegraph
https://uk.finance.yahoo.com/news/oil-gas-investment-needed-another-073804881.html
Louis, I think a line should now be drawn under this as it is taking too much attention away from the imprtant issues regarding EOG. I persononally think Tony is one of the more knowledgable posters on this BB and time will tell who is right.
Happy New Year to all.
@izstar, I was pointing out to SO that he had told another contributor on this BB that he was prevented from purchasing any shares in the company as the year-end report had not been made public at that time and I was wondering why even though some weeks had passed since they had been published, neither he or any other member of the BOD had purchased any at the current low price.
As he didn't explain why, is there some other inside information we are not aware of preventing them from doing so?
Last Thursday I sent an email to SO pointing out that between my wife and myself we hold more than 4 times the number of shares in EOG than he does and it was about time that he and other directors should show more faith in their company.
It wasn't until today that I received this reply:-
Thank you for your emails and please accept my apologies for not replying earlier.
I note your comments regarding the size of your and your wife’s shareholding; thank you for your support for Europa. Members of the Board, including myself, are constantly reviewing their own shareholdings and make adjustments from time to time which are disclosed to shareholders.
The Chairman’s AGM Statement (RNS 7th December) set out very clearly the reasons for continuing to hold shares in Europa, specifically:
1. Continuing excellent production performance at Wressle and further developments on both gas monetisation and the *****tone formation.
2. Ongoing assessment of development options for the Serenity Field where Europa now holds 25%.
3. Renewed initiative to farm out the Irish FEL 4/19 licence where Europa has recently obtained an extension from the Irish Government. You may have read in the Irish press on Saturday that Europa is currently in talks with several potential partners.
In summary, I believe that Europa has a well-balanced portfolio of assets and is considerably undervalued on the market. I would expect that the share price will recover as we provide updates on the progress of these projects over the coming weeks and months.
Thank you once again for your support.
Best regards
Simon Oddie
CEO
ENERGY
Italy’s Eni eyes up North Sea producer
RACHEL MILLARD
ONE of the Britain’s largest gas producers is in the cross hairs of an Italian rival amid a race to shore up supplies.
Neptune Energy faces the prospect of a takeover by Italy’s Eni, which is reportedly considering making a bid.
Neptune, which is backed by private equity and the Chinese state, could be valued at more than $5bn (£4.1bn) in any deal, according to Bloomberg which first reported the prospect.
Chaired by Sam Laidlaw, the former boss of Centrica, Neptune produces oil and gas mainly in the UK, Norway, Germany, Algeria and Indonesia. It operates about 11pc of Britain’s gas supplies from fields in the North Sea.
11pc
Share of Britain’s North Sea gas supplies that is operated by Neptune Energy
Milan-listed Eni, one of the world’s seven oil “supermajors”, is trying to boost the proportion of gas in its fossil fuel portfolio to 90pc by 2050.
Neptune produces about 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It is currently 49pc owned by the China Investment Corporation in Beijing and is also backed by private equity giants Carlyle Group and CVC Capital Partners.
Companies are trying to lock in supplies of gas amid disruption to the market triggered by Russia’s war in Ukraine.
Like other oil and gas producers, Neptune has been boosted by soaring gas prices in recent months. It made $3.3bn in revenue during the first nine months of the year, compared with $1.5bn during the same period last year.
Eni declined to comment on “market speculation”. Neptune also declined to comment.
In today’s Daily Telegraph
ENERGY
Surge in oil company dividends
RACHEL MILLARD
COMPANIES around the world paid out a record $415.9bn (£349bn) in dividends between July and September amid surging profits from oil producers benefiting from the energy crisis.
Payments from oil companies rose by 75pc from a year earlier to $46.4bn, following a jump in the cost of fossil fuels driven by the war in Ukraine.
It comes amid growing scrutiny of oil and gas producers’ profits as high energy prices drive a cost of living crisis, with windfall taxes imposed around Europe and in Britain. Producers have been urged to reinvest their profits in boosting energy supplies, as well as handing cash back to shareholders.
Janus Henderson, which compiled the data, said oil companies all over the world hiked their payouts, largely via special dividends, with the biggest rise coming from Brazil’s Petrobras. It said: “Without the positive impact from this sector, the global total would have barely risen in the third quarter.” The surge in oil dividend offset a fall in dividends from mining companies in response to falling commodities prices.
I wonder if SO reads the Telegraph?
Thoughts on these items please.
08
AUTHORITY TO ALLOT ORDINARY SHARES UP TO 20 PER CENT. OF THE COMPANY'S ISSUED SHARE CAPITAL (ISC) (NOMINAL VALUE GBP 1,918,368) REFER TO NOM FOR FULL RESOLUTION (A response to this proposal is mandatory)
09
AUTHORITY TO ALLOT EQUITY SECURITIES ON A PRE-EMPTIVE BASIS WITH ADJUSTMENTS TO STATUTORY PRE-EMPTION REQUIREMENTS REFER TO THE NOM FOR FULL DETAILS (A response to this proposal is mandatory)
10
AUTHORITY TO ALLOT EQUITY SECURITIES FOR CASH ON ANON-PREEMPTIVE BASIS UP TO A MAXIMUM NOMINAL VALUE OF 10 PERCENT. OF THE ISC (A response to this proposal is mandatory)