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The geothermal project must have moved on, it’s nearly a year since it started.
Is there farther info regarding Serenity that needs approval.
The delay in delivering the financials only has me guessing as I can’t see why, probably the same for everyone invested here, surely all the negatives are known.
Wressle has thrown off a lot of cash, they have £2m leftover from the serenity drill.
Do we have a further deal they need approved they want to mention but can’t until it’s signed off.
Whats the delay and what are they waiting for if that’s not the case?
Tony
Eog reported they produce 257 within an RNS
A near 10% difference in oil production isn’t that big?.
£2-3m isn’t that much?, it’s a hell of a lot in cash when you only have a market cap of £12m.
Circa £4m cash, no debt, wressle oil production and the assets listed below for £12m, it’s a steal.
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets which includes production, development and exploration interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. Production for the year ending 31 July 2022 was 245 bopd. In April 2022, Europa farmed into P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The licence contains the 2019 Serenity oil discovery, in which Europa now has a 25% interest. The Company holds one exploration licence offshore Ireland, which has the potential to host gross mean un-risked prospective resources of 1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in the Slyne Basin which the Company classifies as lower risk due to its close proximity to the producing Corrib gas field and associated gas processing infrastructure. In September 2019, Europa was awarded a 75% interest in the Inezgane permit offshore Morocco. Initial results of technical work have identified 30 prospects and leads that have the potential to hold in excess of one billion barrels of unrisked oil resources. In December 2021, Europa announced a collaboration between Baker Hughes and CausewayGT to conduct a geothermal clean heat project at the Company's West Firsby field. If this project is successful, it will prove the operational ability to extract and use geothermal heat from the site.
EOG with several millions in the bank, now have the opportunity to promote, market and sell Inishkea to a wider audience within the sector. The shoestring budget has long gone.
This is certainly good timing with gas prices high, hopefully the more sensible Irish politicians will look to secure their own local gas supplies and not rely on others.
Just need a partner with some clout to help push this on.
Canetoad,
All is well then,that’s good to know.
There must be a slew of undervalued oil and gas stocks out there like I3 what an opportunity.
Best I just switch off my computer and let those who know better get on with it.
No one cared about serenity pre the drill, the sp was going along nicely, the subsequent duster has knocked 100m of the mcap, EOG got of lightly.
The marketing of the company is terrible, they seem to think the figures will speak for themselves, the market will just do it’s own thing and value will eventually out.
I’m sure it will, but not at the rate investors want to see, all we are seeing for the last few weeks are just about every day daily drops, it’s NOT GOOD ENOUGH to say I3 is undervalued, the investors need action by the directors to stop the rot.
Dalton,
EOG haven’t spent any of their Wressle cash.
I would also suggest they have circa £3m more than EDR, who had to borrow £1m from UJO pre wressle results, they have since repaid but it’s bitten into wressle profits.
EOG’s current bopd is c320 from wressle and other production.
What’s EDR’s in comparison, mcap 19m v 11m for EOG, somethings not right.
Johnny,
Have you spoken with anyone who worked in a hospital during the pandemic for their take on what was actually happening, then and now.
You are correct about some hospitals not being full to capacity on occasions, the problem they had was with placing covid patients away from sick non covid patients while trying to maintain full capacity, it was a balancing act, all the while sickness was rife amongst staff, you can’t maintain full capacity with less staff and you can’t open new wards or hospitals to cater for the sick when you don’t have the staff to man them.
Herbert,
Hopefully EOG won’t be this lowly price for long, I also bought a load at 1.3p thinking that was the bottom and I could average down, now I’m up ****creek without a paddle and I didn’t hold anything back for a rainy day, that 1p looks possible and I’m now kicking myself for being to eager.