Member Info for Yanis2005

Wyn, you been very harsh on DGU. I fully agree with Jack, the BOD has performed badly, misled? CC & TP gone from sustainable profitability in 2022 (choosing to be loss making in 2021) … to break even in 2022 (and only for UK & I) … to now up for sale and very little cash left. I too added substantially back in 2021 when they chose to be loss making …

Am I now annoyed? Yes, more so with myself now than with Eve though, will not fall for it again.

When the CEO promises richness and throws up numbers and graphs a lot of investors/traders fall for it, not just me and DGU. Is a pity this is AIM and not a larger company on the main market as it may have led to a class action lawsuit.

And btw Jack is not just retail companies, oil exploration companies too. One of them said the train was about to leave the station, shareholders will be holidaying in the Bahamas … the SP wend from under a penny to double digit and now sits at less that 0.1p. A lot of people got burned on this one. AIM is a jungle.

Here we are …

3p on the Bid …

17 years !!

Excellent interview one of Simon’s best, if not the best.

Our -prospects are very good based on Wressle and Serenity alone but if the Irish finally wake up, come out of the comma they are in, Inishkea will be mega - 1.5 tcf, enough to satisfy Irelands domestic needs for 17 tears!

Not only this, all this gas can be exploited and utilised by simply connecting Inishkea wells to Corrib lines subsea, out of sight. Once connected to the existing Corrib lines then is off to the existing Bellanoboy Bridge Gas Terminal, processed and then straight to the Irish national gas grid. Environmental foot print of utilising this gas versus imported gas is far far less. The Irish are bound to wake up eventually, hopefully soon as the current gas crisis takes hold.

I didn’t know this but Simon Oddie and some of the EOG Technical Team worked for Enterprise Oil.

Enterprise Oil was the company that along with their partners discovered the gas in the Corrib field, drilled the first well in 1997. They were taken over by Shell in 2002.

Europa looks great! The ride has just begun.

BV, you need men on site. I hope they have enough bodies as they physically have to tweak things.

Ok guys, signing off - have a nice weekend all.

The hedge should not be an issue as GL would negotiate shifting a bit more to later quarters. Mercuria will be happy with this since gas in later quarters is more expensive.

We need to be producing this month though to give time for the sidetrack.

So, according to today’s tweet we have gas all the way to the J-T package. Therefore, we still have the J-T package, Condensate Stabilisation Package and fuel skids/power generation to commission.

The latter could be commissioned whilst producing.

Once the J-T package is completed then they will probably do the condensate stabilisation but the two could be done in parallel. After this they will need to flow gas through the train and do all the adjustments.

Can be done in a few days if they work efficiently, but so far they have been moving through the system extremely slowly, so it could take another week maybe more.

So if the second stage compressor requirement has been deleted then is one less item to commission.

HITS, as per the PFD we have a First Stage Compressor which takes suction from the Production Separator and feeds in to the Dehydration Package which then feeds into the J-T package.

The Second Stage Compressor takes feed from the J-T package and raises the pressure up to export pressure and on to the NGG pipeline via export metering.

If it is only one compressor installed then this must be the First Stage Compressor., so the Second stage compression is deleted (funny that is not in the latest plan, maybe covered in notes).

If the second stage Compressor has been deleted then it means that the J-T package operates at export pressure.

The installed compressor would be sized to accommodate all the SFB flow (10MMSCFD + margin).

DoneK, thanks but it has the same PFD as the one that I have.

According to this PFD we have two compressors; 1st stage and 2nd stage. Also a booster compressor to be installed/used in the future when the field pressure drops. However, GL has been talking about only one compressor for now.

As far as I am aware, , GL said that we are only installing one compressor now - anybody else hear this?

Paul, no. I am looking for a link to the documents in the EA/Planning application.

Paul,
You asked me on Twitter to comment on where I think commissioning is. It will help a lot to assess if we have a Process Flow Diagram of the gas plant. I’ve only seen one PFD which was submitted in the initial planning application and that does not appear to correspond exactly with statements made by GL since. Does anybody have a link to the latest application submitted to planning/EA?

Morning DGU,

Yes, is disappointing that we got in this situation after all the promises but we are were we are. My philosophy is that is not over until is over. I still have faith that something will happen here that will drive the SP higher up, it does not take much to move the EVE SP.

I feel that this not the end, maybe the beginning of the end but certainly not the end. I don’t think that CC & TP would have waited until the very last moment before admin to initiate FSP. There must be a plan B for now. I feel that we still have several months of life.

In fact recently I added ~400k shares to reduce my average. Risky? Yes but I believe is a risk worth taking. In fact if I free some more cash I will add some more, but this is in line with my risk taking and may not be acceptable to others.

Patience. In another week or two we should be getting an FSP update. If we don’t get an update by month end then we should be emailing them asking for one. They owe us at least that.

PEDL181 (from EOG website):

Further to the west is PEDL181. With phase 1 work obligations fulfilled by the drilling of the Kiln Lane well in 2015, Europa has entered into the second phase of the licence.

Following analysis of seismic and geological data, together with the results of the Kiln Lane well, Europa elected to retain an area of 160km2 in the southeast of the licence and relinquish the remaining 380km2. The retained area provides exposure to the conventional and unconventional hydrocarbon potential of the Humber basin. It has technical synergy with the adjacent licence PEDL334, which was awarded to an Egdon led group in the 14th Round for the purpose of conventional and UNCONVENTIONAL exploration.

Tovoc, buy or sell it doesn’t matter IMO. That 4 mil was overhang and is now gone.

From the volume activity today I expect the SP tomorrow to move decidedly up , possibly attack the 3p by Friday, if not tomorrow. Fingers crossed.

Excellent finish today with volume surge in to the close (including 4 mil trade at 2.515p). Bodes very well for tomorrow.

IMO the 2.50p resistance is blown out … next stop attack at 3p.

Blue, normally we have one or two MMs at the bid and one or two at the ask. Right now is one MM at the Ask and two MMs at the Bid. The fact that we earlier had all six MMs sitting at the Bid at 2.2p shows that all MMs want to buy at that level.

L2 shows 6 MMs dealing EOG - all six are sitting on the Bid at 2.20p, haven’t seen this for a while. Getting ready to move IMO.

4.5p is too low.

We would have already been there without Serenity.