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Market likes the news and it’s something that I’ve previously mentioned the company was crying out for, allowing a new change in direction than the previous assets.
There is no dilution required and creatively acquired using a Subscription payment plan, absolutely huge rewards at stake if they can land a quick partner to drill.
I’m a buyer here
Can anyone let me have these details ?
I know, part of me hopes they read this stuff and the like of oddie feel an iota of guilt at their poor performance. I know at heart they don’t give a f***.
We will know if the other directors, ie AS, BOC and SAR buy shares. They need to show support of their strategy.
G - lovely idea, but as he is no longer a Director we will never know!
Come on Oddie give a bit back as well by buying a few shares proving to the peasants at Christmas you believed in the mess you left behind . It won’t hurt you.
He last bought two months ago end of October, so probably more relevant to look at what he accumulates over the year if comparing to annual salary.
Will Holland's recent share purchase would have cost him about £8,665 before commission etc. While it's very welcome, i wonder what fairly minimal percent of his annual summary it comes to.
Well, we now see why the share price went up. I will be impressed when he buys 10 times that. Where are the rest of the director's buys
Interesting holding
Uropa Oil and Gas
@Europaoilandgas
·
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.