Market's view on Europa Oil & Gas
Published on April 2024
- A significant buy of 2,680,000 shares is seen as a great purchase opportunity due to the stock’s low price.
- Clarifications are made on calculating market capitalisation using outstanding shares multiplied by share price.
- Concerns are voiced over poor decisions regarding the Serenity project, suggesting the company should have never taken the risk given its size.
- The possibility of selling the Serenity interest to another company like I3 is discussed, as well as focusing on potentially more profitable ventures like Irish gas.
- Observations indicate a very low market capitalisation of £9.1 million, attributed to failed recoveries from past dilutions due to risky ventures, putting the company’s future in jeopardy.
- Suggestions include selling the company entirely to salvage stockholder investments, indicating dissatisfaction with the current board’s strategies.
- Skepticism is expressed regarding the management’s proactive strategies, such as the lengthy process of data room reviews for the Inishkea project, which is viewed as stalling rather than progressing.
- The use of outside consultants is criticised, particularly when the effectiveness and novelty of their reports are questionable.
- Frustration is shown towards continuous delays in project developments and calls for significant operational changes to improve company valuation.
- A director’s stock purchase is perceived as an indicator that no substantial company developments are expected in the short term.