Member Info for isdeer

Stas,

Union Jack oil, RNS’s, they provide info on revenue generated from Wressle every month.
They have 40%, EOG has 30%, then add on 65ish bopd EOG produce themselves.

That would value the company at c£10m with a REVENUE of $9m a year and more to follow from Wressle., as per a previous RNS.
Our next steps involve advancing the development plan and consenting process to enable production from the *****tone Flags reservoir where gross Mid-case Contingent Resources of 1.53 million barrels of oil and 2 billion cubic feet of gas have been independently reported, in addition to progressing gas monetisation and continuing to optimise oil and gas production from the Ashover Grit reservoir.
I agree there will be a drop, if it’s to 1p, I’m sure it will rise significantly, after all we do still have the caveat in place regarding the extension of the field c2.5mmbbls net to EOG is expected to be commercial as a joint development with the Tain field, this I hope will provide protection on the downside if drilling disappoints.
So not all doom and gloom..

If you want to be pedantic, It’s you’re or you are, not your Tony.

Cheers Tony, I knew I could rely on you, I’m sure I said to ignore if not interested.
By the by, 3p for EOG will be cheap in a few weeks time, if that’s the case I3 will be doing very nicely as well. Gl in both cases.

Not the norm and I’m a little hesitant in asking.
I bought some RBD shares Reabold resources as the sp plummeted yesterday.
Ive obviously had a look at their portfolio, cash in hand and other investments, there seems to be a bit of a mismatch between sp low and assets good, anyone else delved into accounts etc or have a positive /negative outlook, just ignore if not interested.

Forgot Simwell, so has the SP.

Mcap at c21m seems way undervalued.
£12.7m cash to come from Corallion and 3.6m in the bank.
42% shared capital in Daybreak, equates to £7.5m.
The above = £23.8m

58.8% equity in Danube, 0 value,
59.5% share holding in Rathlin, 0 value.
Company and all its assets/licenses WN, Parta, NS, valued at 0.

We have a bit of a disconnect between SP and reality, it’s a buy once market wakes up.
For the sp to drop to this level I can only assume there is some doubt placed by the market in the Corallion deal, this has to be firmed up and pronto.

Same old negativity, same old traders talking it down.
It might go lower who can tell, just bought some today, hopefully it can recover.
Gl to holders old and new.

You could get 1.20 Euro to the pound, in August , it went down to 1.7, it’s c1.11 today.
As for interest rates, the UK is rising fast, hundred of mortgages now unavailable.
The IMF have had to step in, top bankers around the world have visited, the BOE had to buy 64b worth of bonds to stop some UK pension funds from collapsing.
The good news tory minister John Redwood has just said, the IMF and the BOE are wrong, who needs these so called experts when we have Kamakazi and Truss at the controls.

The market is spooked, some really bad sh… going on, this Tory govt has fu…. It.

Why did they need the £1m loan?

We know UJO have RNS’d they have received $9m in revenue from wressle for their 40% covering the year to August 22. That equates to $6.75m for each partner for their 30%
EOG also have other wells contributing a further 65 + bopd, let’s say another $1m
Let’s say they had nothing in cash last August before wressle, since then they have received c$7.75m in revenue, what’s left in the coffers minus a years tax and expenses, why did they need the loan.

No one is saying it about I3E but the market imo seems to be pricing Serenity negatively, EOG has dropped massively over the last week and I3e seems to be following the trend to a much lesser extent. When people say it’s all about The Canadian assets and Serenity isn’t priced in, it looks like its already been priced in to fail, or has it? with nothing included for the upside.
What should we expect for the sp following a poor drill result

Boom.boom, I agree in regards to wressle, it seems it’s got a few years in regards to oil and gas.
The guys backing EDR must have a lot of faith in fracking happening in England against the wishes of most of the people who live there.

It’s really about about the drill, people selling now will be either kicking themselves or patting themselves on the back for their shrewd insight.
We know it’s a 50/50, we know it will drop on bad news, we know they will also sidetrack to appraise a larger area, everyone should be fully aware that in a few weeks time the sp could be anything between 1.25p and 10p
The answer is no one knows, it’s a gamble, for me as an investor the rewards outweigh the risks.
I’m also under water now like most who bought over the last few months.
2.4p gets me my money back so I’m sticking with it.
GL to those doing likewise.

Don’t bother, I’m watching a fly crawl over the ceiling and quaffing a beer.

Sad sad man, get a life.

10 recommends, the I3e broker policeman strikes again.

Tony, you also posted this on the EOG board today, is it wrong are you not suggestion production from serenity whatever the outcome will still go ahead or am I reading too much into this.

Repsol Sinopec are currently producing from the Blake Field (right next door to Tain & Serenity) via the Bleo Holm (FPSO) - so there are no issue with these vessels.

The Tain Development is also based on producing via the Bleo Holm and the idea is that if Serenity is found to be a small field - then i3e's plan is to unitize with Tain and also produce through the Bleo Holm.

However, if the field is as large as I3e hopes - then the Bleo Holm has insufficient processing capacity and a dedicated FPSO is required.

The rest

The assets contain large prospects in close proximity to major international oil companies, and therefore we rate EOG’s chances of attracting a partner to progress exploration efforts. Timings are inherently hard to predict, but a deal could be transformational for the share price.
Value proposition. At its current share price of 2.5p/shr, Europa’s market cap is equivalent to just US$30m. After adjusting for net cash, our US$7.3m EBITDA forecast for FY23 (Jul ‘22-Jul ‘23) places the company on an EV/EBITDA multiple of just 2.5x – making the company look highly attractive based on current cash flow metrics alone. We have set our target price at our risked Core NAV of 7.8p/shr, which carries conservative riskings on both undeveloped 2C resources (75% CoS) and Serenity (25% CoS) and leaves plenty of scope for upgrades. Our Total NAV of 22.2p/shr illustrates the potential value within the exploration portfolio which could be unlocked through farm out transactions.
FOR QUALIFIED AND PROFESSIONAL INVESTORS ONLY: Attention of readers is drawn to important disclaimers printed at the end of this document.
Tennyson Securities is a trading name of Shard Capital Partners LLP, which is authorised and regulated by the Financial Conduct Authority (FRN: 538762). Shard Capital Partners LLP is

This is info I read from June on EOG published by Tennyson

THE FULL PACKAGE
Europa Oil & Gas (EOG LN) is a diversified full-cycle E&P, with a modest amount of production onshore UK, low risk appraisal both onshore and offshore UK, and high impact exploration in Morocco and Ireland. Having weathered the downcycle in commodity prices, the company is well positioned to benefit from today’s strong price environment. High margin production covers G&A costs and organic production growth, with fully funded material near-term drilling catalysts, and potential blue-sky upside, overseen by an experienced, high-quality Board. We initiate coverage with a 7.8p/shr target price.
Production exceeding expectations. Europa has timed the oil cycle well, with the initiation of production at Wressle at rates well above expectations coinciding with the rallying oil prices. The field more than doubled group production, with Europa currently delivering over 300 bopd – now equivalent to over US$1m of monthly sales at today’s oil price (US$119/bbl). We expect more to come over the second half of the year, with investment in gas infrastructure allowing for a hike in the currently constrained rates at Wressle. There is further growth expected with the development of the gassier *****tone Flags formation, which we believe could add a further c.250 boepd of net production at peak.
Meanwhile, although as a UK domestic producer Europa is impacted by the new Energy Profits Levy (the windfall profits tax), its effect is substantially offset by an increased investment allowance (raised from 62.5% to 80%) introduced concurrently. This allowance is designed to incentivize investment in the region, rewarding spenders with the ability to immediately save 91p of tax for every £1 invested. Perhaps counter intuitively therefore, the changes mean that Europa’s upcoming appraisal well at Serenity, plus development at Wressle will provide significant shelter from tax going forwards.
Near term catalyst. Operator i3 Energy recently announced that it has booked a window for the arrival of the Stena Don semi-sub for the Serenity appraisal well, now confirmed to spud in early September. The highly anticipated well is targeting around 17 mmbbls net to EOG, which at US$15.4/bbl (NPV10), would be transformational in a success case. Given that the well is classified as appraisal, there is no independent geological chance of success, however we expect the well to have a better than one-in-two chance of meeting its objectives. Still, should it fail to prove an extension of the discovery, the c.10 mmbbls already discovered (c.2.5 mmbbls net to EOG) is expected to be commercial as a joint development with the neighbouring Tain field, providing protection on the downside should drilling disappoint.
Exploration assets in an improving market. Meanwhile, exploration assets in Ireland and Morocco are being marketed for farm out.