George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Long, If you want to cheer yourself up with rose tinted glasses. IF EOG achieves wressle 160 bpd, and if oil price goes back to$65 in 2021 a barrel, then we could have a net income (after allowing for main overhreads and and allow for lower end of production costs) of £3.9 m from wressle and existing production, assuming that dosn't drop below 85 bopd. Lots of ifs and buts, so thinking like that may be foolish,, but its a bit more cheerfull than looking at existing share price.
Thanks, Copper and Tacuma.
According to the late-departed Hugh, the addition of Wressle should raise total annual revenue to between£3.5 and 4 m.
That's not the same as profit, but it's about 60 percent of the market capitalisation.
If they were able to increase production from Wressle by a further 40 percent, then revenue would be maybe 75 percent of market capitalisation.
Isn't that unusually high?
LONGWAIT, it must just be a typo, I remember a couple of Proactive interviews where Hugh and Simon said that our annual income will double from the present £2m . The initial production is restricted to 5OO BOPD, that's expected to reach 700 BOPD
thereafter.
The thing I don't understand is, if they are expecting just a few hundred barrels per day initially, how could revenue ever reach £400 m?
Eog , wressle gross income, 150 bopd, at $58 per barrel, will be £2.5m p.a.
I would expect net income after production and delivery to refinery costs to be around £1.8 m p.a. maybe £2.0 p.a.
Any production from Wressle will be welcome, as long as it actually happens. The news on Wressle did us no good what so ever.
Maybe, just maybe, our new Prime Minister, Dominic Cummings will force forward home produced oil and gas in this country. He's a breath of fresh air for me.
Come on Simon , find his phone number, give him a call, he sounds right for the job to me. GLA.
After starting up at Wressle, Europa expects revenue to reach up to £400mln annually
https://www.proactiveinvestors.co.uk/companies/news/221144/europa-oil--gas-hails-planning-permission-at-wressle-221144.html
Could anyone translate that into earnings per share?
'The more I think about it, returning the companies founder is about the only thing that will save it. '
Is that comment actually about EOG?
IMHO (and is absolutely only that) such an option would not really work unless in a really interim basis and with new (board) blood as well.
The whole BOD should take responsibility for this mess (but will they?), as this is exactly why we have a BOD - to keep the CEO and company strategy / risk profile in "check".
Hopefully some positive corporate news soon?
Regarding revaluation of company post wressle on stream, depends very much on oil price which ain't looking too clever at the moment!!
Best of luck all and as ever, imho and dyor.
The more I think about it, returning the companies founder is about the only thing that will save it. Possibly generating a renewed momentum. I'd respect Paul if his skin is thick enough to return and let bygones be bygones.
Dunders , thank you.
TAC, as far as I'm aware Paul set up the company or was an original founder and that fact should always have been appreciated. He got "sacked" too quickly imho and Hugh was put in who again imho, did not have anymore convincing experience for running plc at that point in his career and the rest of BOD probably not up to "scratch" either.
I am under the impression rightly or wrongly Paul was treated with disdain I.e. now we've got a real team in place to take EOG to the required level?
From day one I was very personally concerned about the Irish focus/ bet but at least had the comfort of the UK producing assets with the idea these would not be ignored or expanded upon like EDR however as time progressed I was proven wrong which was why I became more vociferous with regard to "strategy".
I just think after Paul "left" company he was left high and dry with no communication about strategy or request for feed back on direction ?
I just get that feeling and was posting in response to H's suggestion he could hold the wheel temporarily or even permanently again? Ie that it wasnae that amicable a "divorce" and a lot of the original BOD are still there?
As ever all imho.
Dunders, as much as I look forward to your posts I seem to be struggling a little with the translation, what are you talking about in your last?
Mind you, with the latest dive in the SP I'm currently sitting in a dark corner of the cave rocking gently and chanting, "everything will be OK soon"
I honestly can't remember how long I have been here, but it was based on the possibility Paul may have returned that I invested. He didn't and I was advised to sell by the person who introduced me to EOG. I stayed and my god I'm paying the price as are many others.
Judging by some of his posts on here I'd say "they" paid him no proper respect at all with regard to communications or inputs?
Purely a hunch on my part and of course my opinion only.
A lot on here seemed quite rude to him as well. Funny how opinions change eh?
If Paul could take an active role, that would be positive news. It's not as if he hasn"t got a few shares to protect.
1.3p. 28% spread, what!!!
Your right Tac, in that we have no idea how hard they may be working behind the scenes to make things happens - so I can’t wait for the end of this miserable February and hope that their efforts will deliver better news in early March. I think we just have heard so little of Simon and Brian and their involvement with the company over the past 2 years, that its hard to know what to make of it. But as our money is in their hands I’ll be more than happy to congratulate them on finding a great new CEO - just soon please!
They tell us next to nothing, personally I’d even be more pleased so see Paul at the helm, interim.
I bet he can't wait to get rid of the crown to a new CEO so that he can settle back into his previous role, zzzzzzzzzzzzzzzz, move over Brian.
Disrespectful I know but not quite as much as the disrespect and abuse that I feel.
I expect that they both work really hard but unless they tell us what they do, how will we know
You seen that share price Simon?
Always makes me a bit nervous when the Chairman and the CEO are the same person because who is holding who to account? That’s one reason why I would like to see a new CEO appointed ASAP.
Just an attempt at a joke, Tac, in these no news days. Would need to be inside Simon’s head to hear that conversation!
Interesting news from the Boardroom Serif, is that public knowledge? Scratch that, it is now.
Apparently the Chairman and the Acting CEO have fallen out, blaming each other for the poor performance over the past 3 months.