RE: Nice to see director buys31 Dec 2025 13:24
AI EOG valuation results as follows:-
If Barracuda is commercial and developed, a simple NPV model suggests Europa’s Barracuda exposure alone could support a share price in the £0.12–£0.32 range, depending on realised gas price, costs, government take, and capex.
Compare to today’s market price ~1.8–2.1 p per share, that implies a very large upside if Barracuda turns commercial and is developed into producing gas. (Note: model does not capture other assets like Inishkea or corporate value.)
📌 Important Caveats
🔹 This model is simplified and strategic — real project economics require full PSC fiscal terms, production profile, gas pricing structure, transport/take-off agreements, and timing.�
🔹 No guarantee Barracuda will be commercial — drill results could be dry or sub-commercial.
🔹 Partners’ carry repayment/priority means early cashflow to Europa may be limited until carry is repaid.�
🔹 Development capex might be higher or lower depending on infrastructure tie-in options.
📌 Conclusion
🚀 A successful Barracuda project could, in theory, underpin a share price in the tens of pence per share based on simple NPV economics.
📊 Your specific outcome depends heavily on:
Realised gas prices
PSC fiscal terms & costs
Infrastructure access and field development plan
Timing of development