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SO will do nothing other than keep the status quo.
Simon Oddie is starting to look a little 'missing in action', to have just missed on the largest investment case for a long time, he really should be up on the podium, he has a lot to shout about. Great cashflow from wresstle, cash will be offset on the gov levy so not such a financial hit as many first thought. potential to develop the existing discovery in the east which, based on sand thickness, should be even larger than Tain, all these good things and he is quiet, not really good skills in my view.
Personally I'm not interested in CCF's opinion. From my experience he won't say anything that isn't a little bitter and negative.
I'm more interested in what the people in charge NOW have to say.
HOW they are promoting Inishkea and Inezgane is important to know, even if they are hitting brick walls. IF the only way to up the share price is to get on with advancing Wressle, then it needs to be done, and publicised. IF that means that in a couple of years we are missing a project, then a new project needs to be announced WITH the reason why it's so important.
Some posters have recently shown that they need to be led by the nose to feel confident with their investment. In my opinion, now is a time to lead the nervous investor by the nose - perhaps even lead the more weathered investor like many currently posting. A frank update would be appreciated, because I for one, think it would lead to a big bounce in the share price.
All is not lost by a long shot. Eog are producing around 320bopd which isn’t far off UJO at 30m market cap. I did say previously the MM’s will try and take this down. The current climate doesn’t help this situation. I don’t think SO or the current bod are fit for purpose I think they are out to line their own pockets only. This company is fit for consolidation with organic growth via wressle as it has so much potential. Unfortunately Egdon take their sweet time taking advantage. All the prospects we have were provided by previous directors not the current motley crew. I would be interested to hear crushcuts view on the situation, where should they go from here?
Absolutely, and not to mention that these other assets far outweigh our current MCap, in fact on Wressle alone. Hopefully they are putting together a plan along with I3E gang to monetise Serenity.
Picked up a few here late on after watching from the sidelines for quite a while. Certainly don't think all is lost and there's definitely a case to invest down at these levels. Looking forward to the future. I was in ADV earlier this year when they hit a duster which was much worse than this. At least EOG has other assets.
Volumes look ok, there is just a sense that the SP is getting pushed down atm, which I would guess may intensify tomorrow if someone can make some money by such a drop and subsequent bounce - would look for rise next week perhaps with the Final Results confirming very healthy cash position.
It will if they try and trigger stops that are no doubt set at 1p.
Until volumes return I can't see it. Oddie might actually be pi*sing in the wind if he was to come out now but it can't get any worse.
I think this will at least 25% bounce either tomorrow or Monday
I think S.O is going to have to do a bit more than communicate with investors
We now sit at 11m m/c with probably 3 to 4 million in cash.
This will just be a MM's plaything for the time being.
This was his reply, if it helps.
Dear Dan
Thank you for your email and I agree that the performance of the share price has been disappointing. However I note that today the price has recovered somewhat and is 1.25p (+10.6%) as I type.
We shall be communicating further with investors in the near future.
10% is barely scratching the surface, not sure what time he wrote this but to only notice the sp at 22:44 doesn't show much regard towards it.
Oddie needs now to come out and do an interview as Majid, (I3E) did. He's had a few days to gather his thoughts and enough time to at least come up with a plan for Serenity moving forwards. It would've been ok if the share price hadn't slipped so much, but him staying so quiet is not helping the situation. Charts still show daily weening off on sells, thinner and thinner! Hoping to see an uplift next week. DYOR
The last time the share price was this low, 2 months later it had tripled! If I could understand why it is so low now, I would think there's no chance of that happening again, but I can't, so who knows? AIM is a very unpredictable animal.
not sure how much Wressle news we will get in EOG's Finals, however Egdon's Finals were released on 03.11.21 so we should have a detailed update on Wressle in 2 to 3 weeks
Lets give EOg i3 a bit of time.. 6 weeks to come up with a clearer plan for Serenity.We could even be pleasantly suprised...with 11 ft oil sand compared to 3 ft at Tain..there is a chance we could have something comparable to Tain ..just a hopeful guess..I also think Wressle will seem better managed at year end.I don't understand this idea of changing direction...heaven forbid any other wild projects...just get Pennistone sorted next year...and maybe Serenity will suprise.
Final results should be available some time next week I believe. Perhaps we may get an SP boost if the outlook and financials look good.
Hi Tac, I guess the Titanic could have changed course to go south to avoid the icebergs, but what’s the alternative route for EOG if it’s going to maximise the say 2 year window that has opened up to get near term projects up and running, before funding for long term oil production gets tight again? I’m naturally cautious - ie don’t spend what you haven’t got, especially when it’s other peoples money (!) - but until Ireland swings we will only be a slow but steady prospect with Wressle, not great for raising an SP on AIM. If there is a better risk/reward strategy around that works long term I’d be all for it - just not sure what this would be.
Narcissistic Simon reminds me of the captain of the Titanic, ‘Fcuk the icebergs, full steam ahead’.
He’s captaining the good ship Europa and don’t let’s forget it.
It’s not Putin, it’s not planning authorities, it’s not Brexit, it’s not the greens, it’s not falling pound, it’s not bad luck, it’s his watch, that’s the brutal truth.
And before you start, I’ve told him. GLA LTH’s as usual.
Very suspicious lack of market to buy now. Could one of the other Wressle partners throw in a bid and take out EOG on the cheap at say 3p??
DYOR
Come on MM's!!!! Get the ask up so that I can buy.
So we should be at 10p? You would think it would be a bargain at 1.2p and SO would invest and buy more shares. Was any time frame offered on news that would take the share price up. SO has been taking a bashing, but his record along with HM has been very poor...
And the price drops 10%. Hooe they get spiked if they dumped to trade elsewhere. Come on SO give us a bone today. Still have my eyes on 1.50p next few days.
DYOR
Well, for some reason he isn't replying to mine recently. He must confuse me with one of his bashers.
I got a more positive reply from S.O.He still expects gas to power at Wressle by year end.No planning application yet for pennistone. No issues from E.A.