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Uropa Oil and Gas
@Europaoilandgas
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1h
This adds a new geography to #EOG’s existing asset portfolio, and one which the Board believes has enormous near-term, infrastructure-led, near-field exploration potential.
🔗Full announcement: https://londonstockexchange.com/news-article/EOG/acquisition-of-interest-in-eg-08-licence/16261470
#equatorialguinea #westafrica #energy #africa #exploration
maybe they find some oompa loompas and steal their chocolates, who knows.
Well he gave a commitment that he would buy when he could in a recent interview and I guess he's out of a closed period now that the deal is announced.
Will holland buying... To quote Tommy Cooper " JUST LIKE THAT ' More to follow
"it has acquired a 42.9% equity interest in Antler Global Limited ("Antler") via a US$3 million cash subscription for new ordinary shares in Antler"
I suspect EOG has acquired 429k new shares, which means it actually owns exactly 30% of the 1.429m shares now in issue valuing AG at $10m - if I'm right, it's odd that it wasn't mentioned in the RNS
And look where the share price is now, it is the sentiment that they will be reducing the number of shares and yes they need to buy shares all of the BOD. WA bought 150,000 pounds worth, that is a chunk but didn't have any lasting effects. The BOD need to step up to the plate and buy at least that many between them. If they believe in this project they will.
I’m not convinced that share buybacks really work for companies like this (they haven’t with UJO). But I would love them all - including the new non-exec - to start buying more shares themselves. Look what happened when WA bought a decent chunk last April. The SP was at 1.6 in no time - so I don’t think number of shares is a real hurdle if there is significant buying going on.
Serif and Bobbybee,
The problem they have is the number of shares issued at a low price. Everytime the share price goes up you will have sellers making 10% return at 1.3 p. They really should instigate a share but back program and drop their salaries so shareholders see they care about them and not just themselves. It is an uphill struggle with a billion shares many bought at low price
Heidi. Not following can you expand, who are our new friends?
Well if newsflow drives SP January will be a busy month. EG presentation on 3rd - Inishkea licence technical ends on 31st. In between we should have update on improved Wressle flowrates, the Wressle CPR, submission of Pstones planning application and an update on Cloughton drilling location and next steps there.
If ive read it right, one of our new friends over there might be able to help it along where otheres will struggle
Well hopefully todays news will start to invigorate the share price and those that want to exit can leave and those that see an opportunity can buy in.
Of course they’ve got to find a farm in partner,we’re a junior e&p company.
@Aimshame. Spot on. He says he is looking for a farmin in 12 months - so we can judge. What we need to avoid is a never ending cost creep of Morocco. Either a major gets interested or they don’t. $3m won’t break the company, but endless reprocessing will drain it with no likely return.
They need to farm it out, EOG can't afford to drill the well. Anyone can farm into a licence for $3mm but the only proof that they are performing is if they farm it out and get a well drilled. Remember Morocco .
After todays news I’d say they are performing.How long do you think this deal has been on the cards for.They don’t happen over night.
Until they start performing and not just taking the money they need to be reminded of their short comings. I’m not Intentionally trying to boil the p*** of board members here only the other BOD.
@Gardner.. Been here longer than I care to remember with north of 65k in here. So we all in the same boat. AIM is a massive gamble that's why we are attracted to it. I have no more knowledge than you my friend. So yes my glass is half full. Takecare.
G - can’t believe there is any lth here who isnt sitting on a loss. But either we think on balance the SP is going to go up - so we hold or we think it’s going to go down - so we sell to preserve what little is left. What other options are there?
I love your enthusiasm it’s refreshing, I probably don’t have as much experience as you but I can just about read but truthfully it’s six years of failure and a 25k loss that does it for me.
Maybe that’s small change for you?
I learnt too late aim isn’t all it seems?
AimMaster 😂😂
Who says they don't have the ability to execute them. You must have a vast wealth of knowledge when it comes to Oil and Gas exploration. Back to my point if sentiment changes here where will you be. I don't see any point waking up every day slating the management. I suppose it's the glass half full and all that.
Accept we’ve heard it all before and should remain questioning- but there were going to get criticised here whatever they did. Have a watch of the video - at least we can say their marketing has got a lot better than before.
It’s having the ability to execute them not the quality of the assets??
no, just heard it all before, many times
i am a loyal, long term shareholder and don’t ***** or praise according to daily share price. the one thing this company has been brilliantly successful at is large failed projects over many years
of course i hope this works out - can’t afford to sell my holding