Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
To be fair, Will Holland also bought shares in March ‘23 .. approx £13,300 worth at 1.24p average. He spent over £31,000 in total last year - including the October/December batches. Not a huge amount, but not insignificant either - obviously further purchases would be most welcome. Good to see Alistair Stuart buying too .. keep ‘em coming gents.
The directors of EOG and UJO have very close friends within Egdon, I understand, so word gets around if there is money to be made!!
Re flowrates I don’t think Egdon tell anyone what’s going on - so can’t see insider knowledge being an issue!
The new flow figures using the recently installed jet pumps at Wressle are due to be out soon, so if they are good, this could be classed as insider knowledge ? They need to be careful.
See what happens when the BOD buy and show support for their strategy, the share price goes up. Let's see the non executives purchase some shares and WH buy some more and it will show they really believe in the Company.
Hi Term. I take your point. However, WH's December purchase was only 736,781 shares at an average price of 1.176p, so they cost him a whopping £8,665. IMO this pales into insignificance compared with his salary.
About time the directors got some skin in the game. Still very, very small amount of shares to convince anyone of true and honest financial commitment by any of the top directors. Need to buy a significant amount more to show true and real commitment to EOG
GreyPanther, looking back Will Holland bought shares in December and October. So with this lastest purchase from the COO that’s 3 x director buys since October
@GP - he did over 700k on 21 Dec when the EG deal was announced. I too am keen for him to buy more but not expecting it every week!
"Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development, and production company, announces that Alastair Stuart, Chief Operating Officer, has purchased 500,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares") at a price of 1.175 pence per Ordinary Share" That's great news but I'd be even happier if WH put his hand in his pocket too.
Good news !
Positive end to overall a good week. Let’s hope this becomes a regular habit by the reshaped (by PIs) board.
The Powers that be realise it is a good way to address African poverty and yet distance developed economies from carbon emissions. Good for EOG
If only the Irish government held a similar sensible view …
“ This year, I am looking forward to participating in a number of panel discussions, investor summits and ministerial forums, and will drive the message that gas is good for Africa. Equatorial Guinea has made significant progress to monetise both domestic and regional gas but a lot more needs to be done to maximise resources and drive industrialisation and economic growth. Gas, as a clean and readily available resource, is the best way for Africa to achieve energy security while facilitating a just energy transition.”
Interesting BP taking interests in Ireland as I read over on harl board this morning maybe inishkia j/v?
“The prospects are covered with 3D seismic and lie in approximately 80m of water with the reservoir targets at around 2800m which is drillable with a jack-up rig. The three prospects on EG-08 have been defined using standard Amplitude Variation with Offset (AVO) techniques and, within this area nine exploration wells have been drilled using the AVO techniques since 2005, of which eight are discoveries.”
EG is the right kind of project for EOG as we need something transformational. (Ireland is too politically difficult), otherwise Wressle just pays salaries and pensions. As others have pointed out, if it truly has potential the group should secure a farmout. I dont remember them saying if there is 3D over the block, does anyone know? If not, the farmout may just be 3D which of course moves a drill further out.
Posted by Tommy241 on the other board.
Some research this evening on the new prospect at Equatorial Guinea, feel free to share…
UK and ROI should take note to Equatorial Guinea’s approach to monetising their natural resources:
Https://oilreviewafrica.com/gas/gas/equatorial-guinea-is-looking-towards-major-milestones-starting-2024-believes-minister-of-mines-and-hydrocarbons
Equatorial Guinea’s new Hydrocarbons minister:
Https://newbusinessethiopia.com/oil-gas/opec-chief-to-drive-upstream-investment-in-equatorial-guinea
Canadian oil and gas company Africa Oil Corp. enters into Equatorial Guinea (Feb 23’):
Https://www.offshore-energy.biz/two-highly-prospective-offshore-blocks-open-doors-to-equatorial-guinea-for-canadian-player/
Update on Africa Oil Corp farm out (November 23):
Https://www.upstreamonline.com/exploration/-staggering-industry-interest-in-west-africa-exploration-block-close-to-lng-plant/2-1-1560295
Further area info:
Https://www.reuters.com/markets/deals/marathon-oil-enters-lng-deal-with-glencore-alba-gas-2023-10-16/
EG looks very promising
Ireland *may* spring to life this year - renewal of licence will be a favourable sign, of course
Serenity looks less promising, but you never know
EOG deserve huge credit here in landing this project at Equatorial Guinea and also refreshing their board (albeit from shareholder pressure).
At an investment of just circa £2.4million from existing cash (no placing required).
Prospects are next to existing production infrastructure (Chevron), have been AVO analysed with 17 wells drilled in the area with only 1 dry.
Extremely high COS in a sought after location.
Broker valuation of 28pps on a discovery (post farm-down), even if this is halved to 14pps it’s absolutely huge upside (without any value placed on Inishkea, NS or Cloughton assets).
Wressle is a great bill paying asset, however it’s not going to move the needle like Equatorial Guinea will.
Buy, add and hold this one to see how it pans out over the coming months. The risk/reward is an absolute no brainier with downside supported by existing production revenues.
The obvious question was why if it’s so good didn’t one of the majors grab it - which they explained really clearly. Could we finally have had a lucky break? I guess only a farm out will answer that - but they are at least giving themselves a short timescale on landing that without too much extra work.
The prospect seems to good to be true. As always the proof of the pudding will be in the eating, especially if the SP, as suggested goes anywhere above 20p.
Be good to get Paul's take on the opportunity especially the geology which listening to Jamie it seems easy to drill etc.
Have to agree, they done well and this prospect does sound exciting…… although in my comments at the end I mentioned the fact that for the last 13 years I have heard the same comment Will used in his closing statement, ‘the next year is going to be exciting’ …….
First time seeing Jamie speak and I thought he did really well, he convinced me but I have no experience of geology! Interested to here Paul’s take?
Superb presentation from Will and Jamie.