Member Info for Jungmana

Is Europa Oil & Gas likely to get any cheaper than this ask @TMSreach
“…with a range of interests across the UK and the Atlantic EOG would still seem to be well positioned to contribute to Britain’s urgent need for hydrocarbons…”
https://total-market-solutions.com/2022/10/europa-oil-gas-holdings-plc/

Olivia, am not suggesting anything misleading. Am quoting a statement made by mr Oddie in the rns. Just seen the statement by Mr Abbott.
Simon Oddie, CEO said :

"The well performance at Wressle continues to exceed our initial expectations and once the planned connection to the local gas distribution network is completed by winter 2022 "

Wressle gas connection to the distribution network soon ( ie before winter) More cash for eog

From December to March the share price went from about 1.2p GBP 6m market cap to 3.6p GBP 20m market before the Serenity placing.
Market cap right now is GBP 12m with a good healthy pile of cash, wressle development got the go ahead and Ireland looking a lot more positive with all the energy issues ongoing.
"The well performance at Wressle continues to exceed our initial expectations and once the planned connection to the local gas distribution network is completed by winter 2022 the well will be able to produce at unrestricted rates which will materially impact the cash flows associated with the field. This will also allow the field to be further developed by targeting the contingent resources located in the *****tone Flags reservoir and I look forward to updating the market in due course with details of this work programme."

The EOG market cap just before the Serenity faim in was about £20m. Today it is just £12m .
Wressle production has since increased and more to come, *****tone development on a fast track , good cash buffer of approx £5m, tax relief on the Serenity well cost , Ireland looking positive etc.
Too cheap right now

BGF are out imo as the last 5.9% declaration was over a month ago.
A rise back to 2p in the near term imo as is too cheap especially compared to EDR and UJO

The 800k is monthly revenue

Eog is generating £800k revenue from 300bopd of net production.
Current cash level is about £5m

Simon Oddie, CEO said :

"The well performance at Wressle continues to exceed our initial expectations and once the planned connection to the local gas distribution network is completed by winter 2022 the well will be able to produce at unrestricted rates which will materially impact the cash flows associated with the field. This will also allow the field to be further developed by targeting the contingent resources located in the *****tone Flags reservoir and I look forward to updating the market in due course with details of this work programme."

The NSTA's approval of the Field Development Plan ensures the Wressle project remains on track to transition from an extended well test to production. Wressle continues to exceed our expectations, generating high levels of production and revenues, with the Wressle-1 well currently amongst the most productive in the onshore UK, producing over 170,000 barrels of oil to date.

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.

Leveraging the knowhow and experience of our technical team, we are committed to capitalising on the significant opportunities that exist at the field, alongside our joint venture partners Egdon and Union Jack Oil."

Yesterday I had 400k shares here for the results and today bought a total of 1.3m in 4 trades at about 1.3p .
Way oversold right now imo . Wressle alone is worth a lot more than GBP 11m market cap (1.3p share price). See the valuation of EDR and UJO.
Europas net production is about 300bopd generating good cash , still own 25% of serenity discovered reserve, wressle *****tone development coming soon, then there is the huge Irish gas asset. Cash in hand approximately £5m.
Too oversold right now imho

Let's get MOU 2 drilling under way hopefully in 4 weeks time. That's whst interest me most and then good news from Ireland.
I hold about 600k shares at 7p average

Edit ; write it off I meant

Legal cases in Banana Republics are never straightforward or fair. Get ready for lawyers to chop more of your money and probably end up with zilch in return.
If 600k is all we have spent there then Paul just right it off and move on is my opinion.

I have been in and out of prd for 4 years. My biggest win was from 3p average to about 14p on the drilling of mou 1.
Am back in at about 7p average and let's see where we are by spud of mou 2.
Good luck

Mate sometimes is best to write off a loss and move on. We can make a 1000 times that in Morocco not to mention Ireland.
That's were all our energy, resources and efforts should be.
Any legal action in Trinidad will only drain our resources before we see any money back if ever.

Trinidad is a distraction and Paul should just close that chapter and forget about it.
We have a lot more important assets in morocco and Ireland to concentrate on.

We had about $33m of cash as at 31st July. With the addition of the 3 new wells we should be generating revenues of $5m to $6m monthly on 3700 boepd.
Could be sitting on $40m of cash right now which is more than 50% of our market cap at 50p.

Brokers Auctus have a 270p target and Eight Capital about 200p .
Strong buy imho

brokers note from Eigtht Capital the (23rd August:

hTTps://research.viiicapital.com/Reports/Research/2022/August/SOU082322.pdf