Andy
- 11 Aug 2005 00:17
I noticed EOG in Shares Magazine last week, and having done some research, think they may be a decent producer / exploration play.
Europa Oil & Gas (Holdings) plc, is involved in the exploration and production of hydrocarbons in Europe. The Company has a balanced portfolio of 12 European oil and gas exploration and production assets in the UK, Ukraine, Romania and Poland. The portfolio contains proven plus probable and development reserves of 7 million barrels oil equivalent (mmboe) net to Europa and exploration potential of a further 28 mmboe. Wellhead revenues are currently in excess of 200,000 per month from a volume of 340 barrels of oil equivalent per day (boepd). These figures are set to rise substantially by the year 2007 when projected production will be above 7000 boepd.

The Company has an active near term drilling programme with three wells scheduled to spud in the first quarter 2005. The drilling programme mimics the balanced portfolio with one appraisal well on the recent Bilca Gas discovery in Romania, one development well on the West Firsby Oilfield in the UK and one exploration well in Romania.
Europa is set to become a significant producer of hydrocarbons in the near future and intends to develop a substantial independent upstream oil & gas business. The management has a strong mainstream oil and gas background, which enables Europa to continue to identify, acquire and develop profit-making oil and gas assets.
Europa Oil & Gas (Holdings) plc was admitted to the London Stock Exchanges Alternative Investment Market on November 11, 2004 and trades under the symbol EOG.
Corporate website :
Click HERE
moneyplus
- 30 Apr 2006 21:00
- 19 of 113
thanks st-warrants sound a bit like CFDs. interesting I'll think about a few!
moneyplus
- 02 May 2006 11:26
- 21 of 113
.
soul traders
- 02 May 2006 11:31
- 22 of 113
Anyway, getting back to the main point of this thread:
RNS out from EOG today - new licences awarded in Egypt (seen on oilbarrel.com).
For immediate release:
Europa Oil & Gas (Holdings) plc
Egypt Licence Award
The Board of Europa Oil & Gas (Holdings) plc - AIM: EOG - the hydrocarbon
production and exploration company, is very pleased to announce that Europa has
been offered the West Darag exploration concession by the Egyptian General
Petroleum Corporation (`EGPC') as a result of an application in the EGPC 2005
bidding round. The award is subject to government approvals and execution of a
Production Sharing Agreement (`PSA') with EGPC.
The concession covers a large under-explored onshore area in excess of 5,300
km2 (1.3 million acres or the equivalent of 25 UK North Sea blocks). It lies on
the northwestern margin of the Gulf of Suez and has a Mesozoic sequence similar
to that in the prolific Egyptian Western Desert oil province.
Saharan Africa, with resources of over 160 billion barrels equivalent, half of
this in Mesozoic basins, is becoming vital to the European oil and gas markets.
Egypt in particular had 36 oil and gas discoveries in 2005 alone and continues
to deliver exploration success in both new and established plays.
Paul Barrett, Managing Director, said, "This is a highly significant award for
Europa and part of our new venture programme across Saharan North Africa,
coming quickly on the heels of two very large licence awards in Western Sahara.
We look forward to exploring West Darag and will release a more detailed
technical review of the concession area once the PSA is signed."
About Europa Oil & Gas (Holdings) plc
Europa Oil & Gas (Holdings) plc - AIM: EOG - focuses on the production and
exploration of hydrocarbons in Europe and North Africa. It currently produces
210 barrels of oil per day from UK onshore fields and 25 barrels of oil
equivalent from the Ukraine. Production is expected to rise significantly after
its Romanian Bilca Gas Project comes onstream later this year. Operating a
balanced portfolio, Europa currently has field appraisal activity on projects
in the UK Southern Gas Basin and onshore Romania and exploration activity on a
further eight licences across the Europe - North Africa region. For more
information please visit www.europaoil.com.
moneyplus
- 02 May 2006 18:46
- 24 of 113
none taken-I just couldn't think of a reply! very pleased to have your advice and input on this thread nothing offends me except some of tvc15's drivel!
barclay
- 03 May 2006 18:39
- 28 of 113
Mediterranean Oil + Gas directors have just exercised their warrants.
London Stock Exchange RNS.
Looks like they made a tidy sum!
barclay
ellio
- 04 May 2006 09:23
- 29 of 113
ST, think 1 or 2k, maybe 1k initially, then if they move to 20p another 1k maybe an astute trickle or funds into these, I'm going to track, if I get chance I'll do it tomorrow, otherwise it'll be Monday, plenty of time imo to move on these, but they do look tasty, given eog's prospects.
barclay
- 04 May 2006 17:10
- 32 of 113
ST, even if the warrant doesn't reach the 30p exercise price and only reaches
50% of that at 15p you will still make some money 15p-8.5p = 6.5p per warrant held to sell at bid in the market(worse case scenario).
My broker says that company warrants are less risky than covered warrants because of less volatility and are quite liquid, and traded daily.
The same risk can be had from holding the shares which will cost more therefore even though you may not lose all your money because your outlay was more a 25% decline in the sp could equate to a bigger loss than you would suffer from the market rendering your warrant worthless.
EOG warrants never came to my attention until i saw your thread.
Thanks! I will put a small amount of money in them for the leverage.
Production is bound to increase between now and Nov 2007,it may not reach it's targets but it will make the shares rise along with the warrant.
You could always take profits by selling some of your warrants and leaving some
in to reach the exercise price.
barclay
soul traders
- 04 May 2006 17:25
- 33 of 113
Barclay, it is the underlying share which has to reach exercise price of 30p, i.e. the warrant allows you to buy the share, at any time, for 30p. The warrants are therefore exercisable now (just!).
This is one reason why the warrants look attractive, because they are "in the money" - i.e. exerciseable - but still cheap, with plenty of time left on them and with the company prospects looking good for a rise in the share price.
You may also want to check with your broker/accountant about the tax position, because I have a feeling that if you exercise the warrants and then sell the shares, you'll be able to offset the total purchase amount (i.e. the cost of the warrants plus 30p per subscribed share) against your profits for capital gains tax purposes. At some point this may be more beneficial than just selling the warrants, e.g. if the Final Exercise Date is near at hand and the "time value" of the warrants has reduced. Don't ask me about taper relief and please don't take what I've said as gospel but rather check it out for yourself - I am trying to get these questions cleared up with the Inland Revenue but am currently waiting for them to return my call. I will post any info I do get.
(I should add that in the final analysis I am much more clued up about German taxation having lived here for five years, but am reviewing the position with the UK tax authorities as I may be moving back to the UK shortly).
Trust this helps.
ST.
barclay
- 04 May 2006 17:56
- 34 of 113
Thanks for the info, i am new to warrants i did my own research.
Are you saying that because the warrants are exercisable now it would be like
the same as buying the shares, but if the shares rise 5p to 35p i can exercise my warrants and i have made 5p per share profit per warrant held?
How do i excercise the warrant as opposed to selling them in the market?
I deal online with squaregain.
There is no stamp duty on warrants, but they are subject to capital gains tax at 20% uk.
I do not know how to offset it though but what your saying does make sense.
ellio
- 04 May 2006 20:18
- 38 of 113
Looking very cheap after today, may go for it tomorrow!