Ripley94
09 Sep 2018
lovely jubbly EOG… XXXXX News on 4th September 2018 Campaigners had won the argument to stop explanation at Bury Hill Wood. EDG ,UJO & ANGS are affected partners they all dropped on news.
millwallfan
06 Jun 2018
Re: info I think we all take broker forecasts with a pinch of salt but 12 times current sp really is pushing it to the limit imho
forwardloop
06 Jun 2018
info In a note to clients, analysts at finnCap hiked their target price for Europa O&G by 28% to 55p to reflect the upgrade.[link] executive Hugh Mackay interview[link]
millwallfan
05 Jun 2018
Re: RNS Reseng Thank you. I was tipped this share by a friend quite a few years ago and until today only held 22k - now 40k at an average of c 5.5p. Bit wary of o&g shares now having lost a significant sum on excite energy. Hopefully yours and other response give me a bit more faith of a decent return here within next couple of years. Fortunately Griffin mining which I have held on and off since 3p days keep my portfolio in the blue lol.
ResEng
05 Jun 2018
Re: RNS Reseng Millwllfan, the unrisked resource potential should take into account recovery factor. The 20 % is a nominal guess at the chance of success related to the exploration risk converting unrisked to risked. This figure relates to aspects like reservoir seal, migration of petroleum into the trap, reservoir quality etc etc Of course the exploration risk can be higher (ie the 20 % can be lower) and this is what the farm in companies will be assessing. Is the oil (or gas) actually there..?.The encouraging aspect is the significant size of the resource making economically viable development more likely.
karlos23
05 Jun 2018
Re: RNS Reseng [link] a look at this interview from this morning, even though Hugh is there to talk about these huge potential reserves in the Porcupine, he cannot help but show his excitement for the Slyne play we have (Corrib) and he kept mentioning it.This play is going to finally change things here IMO, once the sale of Corrib from Shell to Vermillion is complete scheduled this month, we should see some farm out action and potential a fully funded well on what is a low risk game changer next summer. All this for a minnow.....hopefully not a minnow for long!
millwallfan
05 Jun 2018
Re: RNS Reseng I like your figures much more than mine !!! I openly admit I don’t understand really what ‘gross mean unrisked resource ‘ means - I assumed it represented a properly professionally assessed level of recoverable oil so I would welcome views and comments on whether or not your 20% recovery rate is reasonable or perhaps conservative?? Do we have any oil industry experts reading this who can offer an opinion on what this latest update could mean in value terms to Europa and over what timeline
ResEng
05 Jun 2018
Re: RNS Good observation and I support your sentiment but your maths is a little shaky. Here's my take : Unrisked prospective resources at 2900 million barrels. Lets say average chance of success is 20 % which reduces volumes to 580 Mbbls. Farm out with carry leaving 10 % share reduces volume to 58 Mbbls. $10 / bbl profit would generate $ 580 million. Not bad for a company with market cap of $ 13.7 Million.
millwallfan
05 Jun 2018
RNS Just nearly doubled my holding with purchase at just under 5p. Unless I am missing something we now have 100% rights over 2.9 billion boe with an intention to farm out later this year. Accept there will be major investment costs to extract but surely a major will be interested in such a safe haven location - so even if they negotiate free carry on just 10% retained interest that equates to 290 million boe. Let’s say profit margin is $10 per barrel 5hats $29 million into the coffers over the next few years. Even better sell the entire lot and accept $15 million one off up front. Can some of you informed posters please correct my dreaming.
millwallfan
05 Apr 2018
Re: info Interesting read and at current cash burn they have funds for over 2 years - as such any improvement in income should put them on the road to break even. Hopefully that will mean no more equity fund raising. Then it will be down to the develop,net of all the existing assets to take us into profit and fair value of share price. As such a hold for me. Any contrary views ????
forwardloop
04 Apr 2018
info [link]
lizardtongue
17 Mar 2018
Worth a read [link]
hector22
14 Mar 2018
Hugh Mackay on Proactive [link] Oil And Gas looks to fast-track 'flagship' Inishkea prospects
trickler
25 Jan 2018
Bad news for PI's Brian O'Caithlan appointed as non-exec. director.Don't you just love it when a company in which you're invested appoints someone from a (failed) company that you used to invest in.Hugh Mackay lauds BO's 'achievements' at Petroceltic International. Private investors including me lost everything under his leadership.Watch out for RNs's declaring share awards and options to this man.Makes me sicktclr
ndr242
12 Jan 2018
Everyone's lost interest ?! Must admit feel a bit sorry for Europa. Everything seems to have gone the wrong way for them.
