Member Info for GreyPanther

Hi whistler51. On the contrary, I believe that I've done my homework fairly thoroughly. What I was talking about was the initial rates to be obtained by using the beam pump. While the well will, or should, do much better with an ESP, the initial rates will be an indication of how good the reservoir really is. Please don't shoot the messenger!

What flow rate are we expecting from Schwarzbach-2? I've wondered about this quite a bit as LB has suggested 250 bopd on the beam pump (or perhaps 250 barrels of total fluids, which could include some water cut, I suppose). I've also looked at some of the nearby wells to see what they've done in the past, and what Schwarz-1 is still doing. Bearing in mind the Schwarz -2 reservoir is said by LB to be significantly better than in other nearby wells, and that Schwarz-1 has declined from about 100 bopd to around 10 bopd over many years, I'd be quite happy with 250 bopd. But I suggest that we don't hold our breath. The reservoir isn't exactly a clean sand, but is quite shaley in places.

We've been told that the AGM will be in Douglas, Isle of Man, on 21 December, so I'm not going to be able to attend. However, it seems to me that the delay in announcing the results of the Schwarzbach pump test - if they really are all that much delayed - is a great opportunity to top up my shareholding on the basis that the results will be worth waiting for. So I'm now wondering if other investors feel the same about the likely outcome. Any thoughts please?

Hello Heid. You've been going on about KS for quite a while now, and you clearly think - for now -that he's the "Bee's Knees". So could you please explain why it would be a good idea for DB to talk to KS at this stage. KS might win his expected EGM motions, but then again, he may not. So why DB would want to p*** off his current WN partners at this delicate time is beyond me.

Shareholders with fairly short memories, who think that a return to the days when Paul Barrett & Erika Syba were running the company would be a great idea, might like to be reminded of the following. PB and ES floated Europa on AIM at 25p per share in November 2004. In the early days the shares traded between 25p and 35p but, by the time they left the company (ES in August 2010 and PB in Oct 2011), the SP was 12p in the case of ES and 13p for PB. So their performance was 't exactly stellar either!

Thank you JD-Nau.

With regard to latest EGM, could someone say a bit more about the likely timetable please. For example (1) how long after the requisition notice is considered to have been legally delivered can the board wait before calling the meeting and (2) within what period after that must the meeting actually

take place. Thanks.

Thanks Heid. I think you'll find, though, that there were originally a lot more private investors in Corallian than just KS / Portillion Capital. Almost anyone involved in the UK O&G industry would know about Hannam an Partners for sure, so why would an introduction be needed by KS?

Heid. Can you say a bit more about "... Kamran ....an what he did with Corallian" please? I wasn't aware that KS was involved with Corallian, except (maybe ) as a shareholder, but maybe you know more. Thanks

Perhaps the Shell money will arrive soonish, but not until after the EGM thanks, maybe, to some so far unannounced arrangement with Shell and the NSTA who have to give their consent to the FDP. If KS is sucessful, it's he who will decide what happens to the Shell cash.

If the produced gas had actually been included in the reported 950 bopd (barrels of oil per day )flow rate, IMO neither UJO nor EOG would have said bopd but used boepd (barrels of oil equivalent per day) in stead.

Surely tomorrow's meting will have to include something, and I'd hope very positive, about the re-start of Wressle production. What else do they have to talk about apart, perhaps the forthcoming AGM resolution. That's unless the Irish Govt has had a sudden change of heart regarding Inishkea, which I very much doubt.

Hi Rogue rader. If Star were to sell all their oil and gas assets for a bundle of cash they would, in my opinion, have the necessary funds for any new ventures. But whether anyone would offer what Star think they are worth is quite another question!

It would be interesting to compare our directors’ rewards with those of our Wressle partners. We don’t yet have Egdon’s latest annual results but, for the year ending July ‘23, Europa’s accounts show that the 6 directors received £722,000 between them, some of them for only a part year. Of this, SO’s and WH’s came to £574,000 between them, or 79.5% of the total for all directors. At the end of last week our market cap was only £11.03 million, so the directors’ annual £722,000 bill represents 5.8% of the market cap. Union Jack isn’t an operator but its four directors were paid £487,000 for 2022. Of this the two exec directors (Bramhill and O’Farrell) received £407,000 or 83.6% of the directors’ salary bill. I note that UJO’s market cap at the end of last week was £21.73 million, which was 97% more than Europa’s, and the UJO directors’ annual £487,000 bill represents only about 2.2% of their market cap. IMO it's completely wrong that Oddie could step down from the CEO role but remain on the Europa board in ANY capacity. Wasn't that one of the issues raised in various corporate governance reports? I think we should vote "NO" to Oddie but I have a lot of regard for the Chairman Brran O'Cathain.

Thanks SEA7. That's much how I was thinking.

Has there been a formal statement or an RNS (for example) that STAR's oil and gas assets are for sale? If so, what does any one on this bulletin board think they might go for? I'm guessing that they might be worth around the current market cap of approx £15 million to a small number of onshore players. So, if they went for that much, we might see a pretty decent jump in the SP.

Good to see that our CEO has bought 781,767 shares. They will have cost him the princely sum of about £9,365.

Hi Serif. You're probably right in terms of what a partner could / should say. But, speaking personally, I struggle to agree with WH .

I'm very surprised that Will Holland is "pleased that the work has gone so smoothly". Egdon said that the pump installation and associated works would take ca. three weeks, and it's now been six weeks or possibly more since there was production from Wressle. IMO Egdon have never failed to disappoint their partners and investors regarding their highly over-optimistic work schedules.

Krustysmegma. I assume you mean "millions of years ago the planet didn't need to sustain HUMAN life". But even corals don't like very hot water.