Member Info for MickR

MM's are short of shares so they are shaking hard to get rid of the weak hands.

IMO 0.25p coming soon.

DYOR

There we go. What is going on? Directors buying? Never seen a reversal so strong in an hour. 0.30p finish would be awesome.

DYOR

Massive buying going on...Cannot believe the gift that we got to buy below 0.16p. Looks like we could move back to 0.25p once the sub 0.20p buyers have sold out.

Buyers back now. Let's smash through 0.20p and get to 0.30p. The sellers must have been desperate to be selling below 0.15-0.16p

DYOR

Cannot believe my luck buying sub 0.16p. Looks like a strong reversal could play out IMO. I am still thinking 0.22p to 0.25p finish.

DYOR

I am not in but looks like the SP may settle in the 0.22-0.25p range after all the traders have had their fill IMO.

DYOR

Wow, this was pumped heavily. 0.17p now.

Hit as I thought a few weeks ago.

Ketan Patel holds more than 4% of SHG shares and I do not think he will entertain a bid less than 25p. The company is not undertaking a FSP and is not a distressed seller. I would not be surprised with a bid of 30p or even higher having looked at SHg fundamentals in more depth this afternoon.

DYOr

Well done folks. What a ride it must have been from 32p.

What assures me is that the names of the prospective bidders have been revealed and the Chinese parties are going to be the likely winners. Consolidating very well at the 13p level and we should see 14-15p in the afternoon IMO.

DYOR

25p is a fair valuation IMO, I do not see it being recommended at anything less. 16.50 was the placing price.

Some peeps here need to think bigger than some of the silly undervalued market valuations on the London market that are so common these days

DYOR

kkkrrr,

My view is different from yours. Shandong or whoever the bidder is will want a recommended cash bid which is why I see a 25p bid or higher first time round. Anyway, let#s see how it pans out.

DYOR

The Chinese will already have a price in mind and they will not want to wait around. 25p seems to be the consensus here and my money is on Shandong Gold which a State owned company.

DYOR

Yes, indeed interest was paid in addition to the capital but no penalty was payable.

Well done to holders. Looks like a bid could come in at 20p to start off the process and if there is a bidding war, it could go up to 30-40p IMO.

Buy and hold.

DYOR

I expect to see 1.50p today or this week IMO. This is a bargain sub 1.50p as I have been saying last few days. I would not rule out 2p on strong results.

DYOR

Oh dear. No wonder the lenders are jumping up and down as reported by Sky news over the weekend.

Good to see this confirmed: Loan Facility Repayment

Wed, 19th Oct 2022 07:00
RNS Number : 3241D
Europa Oil & Gas (Holdings) PLC
19 October 2022






Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas



19 October 2022



Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")



Loan Facility Repayment



Europa Oil & Gas (Holdings) plc, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, is pleased to announce that it has repaid in full the £1,000,000 loan facility (the "Loan") provided by Union Jack Oil plc ("UJO") which was announced on 9 September 2022. In accordance with the terms of the Loan, the principal and accrued interest has been repaid without penalty and following repayment the Loan will be cancelled. The Loan was secured against a 10% interest in the Wressle field (PEDL180 and PEDL182), including the associated infrastructure; this security will now be released at which point the Company will be completely unencumbered and debt-free.



As announced on 10 October 2022, following drilling of the Serenity well the Company expects to receive in the coming months, once all of invoices for the SA02 well have been received and a final well cost has been established, a repayment of approximately £2 million from the escrow account.



Simon Oddie, CEO of Europa, said:



"I would like to thank UJO for providing us with this loan, which provided Europa with additional liquidity as part of our prudent cash management philosophy pertaining to our short-term capital requirements. Although the results were disappointing, the Serenity well was drilled significantly under budget and the £2 million, when added to our existing cash balance and ongoing net income from our onshore production, provide us with a strong balance sheet to fund the ongoing assessment of the Serenity development, development activity at Wressle and also to continue with our stated efforts to add additional appraisal assets to the portfolio. I look forward to providing further updates as each of these exciting facets of the Europa business progresses."

Meanwhile, the 500,000 shares buyer is hard at it….obviously accumulating a stake?
One thing that may throw us off guard is a cheeky bid Which I do not see coming in at less than 3p.

DYOR