When I was at school education was still in the dark ages. Actually it was even more archaic than that - we were still learning about the classical world of Rome and Greece. At primary school we read stories from classical mythology and later at grammar school we learned Latin which often involved myths and stories in the original language. One story that made an impact was "Europa and the Bull". Europa was a beautiful young princess of Tyre. Zeus saw her and fell madly in love. She was well guarded and he thought it would be impossible to get close to her. So he transformed himself into a magnificent white bull and mingled in with her father's cattle. Wandering around the estate she spotted the bull and went over to inspect him, She found him remarkably tame and soon decided to go for a ride on his back. Once she was on board he charged off, slipped past the guards and into the sea. And off he swam, princess and all.

He carried her off to Crete where he revealed his godliness and she reciprocated his affections. They both lived happily* ever after. She eventually gave her name to Europe. And of course to Europa Oil & Gas.

The questions in my mind today are

1) Was Europa Oil & Gas (LON:EOG) carried off by an enthusiastic bull market in its shares recently? Or was the rise justified?

2) Should recent RNS announcements be taken at face value? Are they what they seem, or are they just bull?

My personal assessment is positive. It seems to me that EOG has a wealth of potential which is massively significant for a company of this minuscule size. Progress is being made at Firsby. The results from Barchiz are encouraging. I have today bought more shares. In effect I've bought enough shares to boost the value of my holding back to where it was yesterday. It's not a gigantic holding - about 2.5% of my total. But it's enough to make a difference if EOG achieve their potential.

T

* - of course there was all that unpleasant business with the Minotaur who might well have been a member of the extended family…

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