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@JH77 I disagree; two things happened today; we had loads of sellers jumping ship and loads of buyers boarding ship and our SP increased today. This means we hopefully will have settled at a much higher price which is great for the next uptick, I never expect a big-bang break out but a slow uptick maybe getting faster nearer the drill date; that said if Serenity hits then there might in all probability be a BIG-BANG break out.
Whatever anyone thinks I believe Europa is in the best position it has been in for the last ten years of so.
IMHO
If we get news of Inishkea extension being granted then we are quid's in; Inishkea will be our second company maker.
We are quid's in in-any-case because of Wressle and Serenity.
I wasn't overly confident in Inishkea but the article gives me some much needed hope:
http://www.gov.ie/en/publication/3bcaf-policy-statement-on-petroleum-exploration-and-production-in-ireland/
IMHO
We broke 3p after how many years? Finally Europa is rising; we have Wressle (Our Goldmine that keeps on giving) and Serenity that has a VERY good chance of being our company maker.
This is not including Inishkea (which now may get the green light, very soon) and Morocco (although a fair way off yet).
Great news for all especially the oldtimers!
IMHO
The update was much more detailed then we have been used too; all very good news.
I was hoping that we would be far closer to solving the GAS issue by now; hopefully this will be linked to the local network soon. It's great to hear that once the GAS issue is fixed then we are expected to produce 1300 bopd plus the monetization of the gas produced, all form Ashover Grit layer alone.
*****tone has more Gas/Oil then Ashover Grit.
IMHO
Ah, okay I missed some posts so it does seem we do have some fields that can be fracked whether this happens or not is a different matter; it's still another opportunity for Europa! Not forgetting the Thermal heat retrieval project also going on.
IMHO
@Serif I partly agree with Selfish.
I think high energy prices has changed the environment totally; before oil/gas were toxic; banks were refusing funding now everything has changed. Even people who were against now find themselves in great difficulty and can't afford to hold such views literally.
The question still stands does Europa have fields that can be fracked?
IMHO
Both Conservatives candidates have reaffirmed that they now support Fracking where local communities agree.
I know Europa is not a fracking company but if we have fields where fracking can happen then surely this is yet another opportunity, if I remember right we do have such fields, if Serif, Grey or anyone else can confirm?
Fracking could be a super opportunity for Europa, just look at Egdon today!
IMHO
@HerefordBull I partly agree on Inishkea, the pressure on Mr. Ryan must be huge but he seems adamant not to budge; I'm secretly (openly) hoping he breaks like a dam and concedes or gets removed for his post. He has ignored so many red flags it will be dangerous for Irish citizens especially for the coming Winter. I suspect we will have a decision latest around 2023 Feb as the European embargo of Russian oil will kick in and oil/gas prices will skyrocket yet further!
I'm not so pessimistic about Morocco I think this is just a matter of time, another year or so!
But you are right we have two eggs in our basket Wressle and Serenity, ( with Serenity being our company maker ).
IMHO
I think that's the KEY point: Wressle is a literal Gold Mine; which can carry the SP to 6p-10p by itself as we continue to develop the field.
Wressle is producing far in excess of what was expected and we could only be utilising only between 30%-40% of its full potential.
We are currently only producing from the Ashover Grit layer; hopefully once the Gas issue which is holding current production back to approx. 800 bopd average is sorted out, oil production will INCREASE to between 1200-1500 bopd, plus we get loads of money for the Gas being produced on top which is currently being flared.
Remembering this is just oil/gas from one layer generating lots of revenue; we still have two other layers to develop!
Also we are in an era of very high oil/gas prices which is here to stay for at least a couple of years, especially in Europe.
For those worried about buying Europa it's important to remember Wressle alone can carry our SP higher with lots more development to come. (Do your own research too)
Yet we still have Serenity, Morocco and Inishkea yet to come.
IMHO
If countries like Norway continue to make statements that they may stop exporting GAS as their own needs come first; I'm sure I read we (UK) have made a similar statement recently too; then I would hope the Irish would change and give the green light.
My concern with Inishkea is that the go ahead should have happened ages back as all the warning signals are flashing RED and have been for sometime and nothing has happened! If this happens great but Mr. Ryan is determined it won't!
IMHO
After years of promising myself that I wouldn't add anymore Europa shares to my existing substantial shares; I just did!
I think finally we have turned a corner with thanks mainly to Wressle and high oil prices which are here to stay for at least a couple years. Wressle still has so much yet to give; we have still only tapped 30%-40% of Wressles potential.
Serenity hopefully will be a great success even if its not it will give us another earning stream becasue of its existing 10M barrels of oil already found.
Morocco could be another great earner too; as more foreign companies are moving in.
Inishkea I'm not too confident about; Mr Ryan is a major blocker ignoring RED flags to the Irish nation; that said if Russia cuts of GAS and OIL from Europe then he'll have no choice but to grant the permits and fast.
Wressle gives us a STRONG earning base whatever happens with our new projects. Tis give me confidence Europa is a now a very good investment.
IMHO
@sunny I don't think anyone will offer £10; if a takeover does occur I think we could be closer at this point in time to £15ish takeover price.
That said hopefully this won't happen before we bounce back to higher SP values.
It's really sad we have seen such a catastrophic fall; but we still have a very strong company growing at leaps and bounds and our cash reserves and profits are growing fast too. Maybe they can hand out a divi soon or do a share buyback.
It's important too to remember we only have approx. 16M shares in issue!
IMHO
@Serif The Irish are asleep; did you read the comments; most are silly; like building nuclear power stations or more solar; like this take weeks to do! Their risk is immediate not waiting to happen years down the road!
If they haven't moved yet I can't see them moving at all; they ignore red flag after red flag; Ireland and its people will suffer this winter for sure.
Its quite sad we have fallen so much; I don't understand why as we are still growing at leaps and bounds; we may end up with £7/8M in the bank and £2/3M profit by the end of the year. The company is in great health and doing VERY well; I think we'll have to just wait it out. They could use the cash they have or will have at some point to buy some shares back, but with only 16M in issue there isn't many about.
IMHO