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We just can't catch a break. Europa may actually be a BAD luck company.
I've been STUCK here for 10 years.
I have seen share dilution going from 250M to now nearly 1B now.
Wressle is the only success that Europa has had in 10 years.
:-(
@Grey
I think both Europa and i3 would not have invested relatively very large amounts of money into the Serenity field lightly.
After all Europa had to raise the funds by a massive dilution of shares as you know.
I am very positive on Serenity simply becasue both these companies have BET hugely on what they see is a great field based on all the data they have. Bet is probably the wrong word as the likelihood of success and the work/effort put into Serenity gives us a fantastic chance of success.
We can speculate all we want but we will know very very soon whether we have hit gold.
IMHO
@Serif You're absolutely RIGHT, there is nothing that is going against us except the SP (I was hoping we would have hit 4p on the spud news... but will happen on positive news).
But as you say apart from SP being a little lower than hoped everything is in favour; I must keep repeating the mantra "We will win in the end this I have no doubt". Stiff upper lip and all :-)
IMHO
We have almost 1B shares in issue when I first bought in we had 250M shares in issue. I suspect many old hands have simply sold out as they have been STUCK here for years sitting on huge losses like me,(but I haven't sold but bought more).
I think we just have to sit and wait for some big wins; Serenity will hopefully be a big win for us.
Good luck to all.
IMHO
I think it's always good to be prepared well in advance so no surprises pop up.
Good way to raise money; will be easy to pay back at current oil rates and production.
Let's hope we are close to sorting out our GAS issue so we can raise our oil production to 1200-1500 bopd and monitise the large volumes of gas too.
IMHO
We have spoken before here about Europa's fields which have fracking potential; do we know how big this could be for Europa if we developed these fracking sites?
If Europa simply announced it would start fracking it's SP would rise just on that.
IMHO
Ultimately our SP being where it is is because we have diluted so much. One big seller can make a difference.
The SP will be very turbulent until Serenity or other positive news comes in.
I wouldn't panic we will do well the end I have no doubt.
Wressle ensures we will have plenty of cash; Serenity odds are in our favour; its question of how big the reserves are not if they exist; we know they exist. We need a bit more of luck like we had with Wressle exceeding expectations.
At some point soon too we should get a decision on Inishkea.
Lots of news to come.
IMHO
@Tony I don't see Europa's revenues being an issue or the monies needed by Europa for near future projects, (reasoning given in previous posts).
But I think all opinions are valid; I would like to see your figures and how you come to them.
IMHO
@Serif Oh dear my maths! £4M is even a better which will be easily (IMHO) raised by Europa via existing production.
I have no issue with another fundraise at a much higher SP; this won't negatively hurt our SP or add too many additional shares, if necessary.
We are in the best place we have been in for years, we are generating good money with CERTAIN increases in production to come.
The SP can only go one way and that's up, Up and UP :-)
IMHO