Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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@Brez, I agree with your synopsis, however, Simon is in the driving seat.. Although I'm sure that the greater majority will agree with the way that he has really trimmed up the financial outgoings here, its to be commended IMO.
The fact that a little bit of personality has crept into this chat room regarding opinions or advice to sell up and B***** off is not a great sign of investor unity, although it appears that a vast number of investors in UJO and RBD have taken that advice and caused a landslide in their SP. Ours seems to be holding, ready to rise on news pending.
I'm happy to stay, have the odd moan but stoically hang on until the blue horizon appears. GLA
Exactly serif.. Some posters here want to blame the current management for the lack of a Ireland farmout when its pretty clear its a political issue. Morocco farmout has been launched. Wressle we are not the operators and the N. Sea could land anytime. Frustrating yes. Blame it all on Simon. No.
It’s obvious, or rather it should be that anyone who’s bought a chunk of shares at a penny is going to have a different slant on things compared to some of us who have watched things slide since Kosmos bailed out.
I’m struggling to think of the new ventures this management team have brought on board! Which new EOG ventures are you referring to where the current CEO and Chairman have over promised and under delivered?
It’s obvious, or rather it should be that anyone who’s bought a chunk of shares at a penny is going to have a different slant on things compared to some of us who have watched things slide since Kosmos bailed out.
Tovoc, Selfish has a point but as usual, as suggested by his screen name, he cannot help being provocative just for the hell of it. However, it is not so easy just to cut and run and swallow your losses when so many promises remain unfulfilled. No, missing a deadline or two is not the end of the world, but this management have made it their modus operandi to over promise and under deliver, especially on new ventures.
@Selfish I would love to bugger of as you crudely put it; I bought in initially at around 11p; so I'm a little stuck and frustrated and am 60% down on my averaged down breakeven point. I've been here for years just waiting to recoup some of my losses.
I really hope Europa comes good for all us long timers. Wressle is our best hope; but the frustration comes yet again with the lack of updates.
IMHO
Tovoc:
'What we do know:
1) Inishkia forever stuck!
2) Europa pays well, good salary (benefits), home working, open ended projects with no project deadlines, no project updates, no set date for company reporting!'
I don't mean to be rude, but isn't this exactly how all companies are run? If you don't like it, whyever did you invest in shares in the first place? Don't you need to look beyond the basics, to the enormous opportunities that are available. All this trivia about working from home, loose dates and suchlike, it just seems so vacuous.
Maybe results soon, and an update on projects. If I felt like you appear to Tovoc, I'd sell and bugger off tout suite.
I never take the lists of what a raise is for too literally. Looking around companies tend to link it to “positives” rather than say it’s for “extra costs” or “in case x fails”. I think Febs raise was in part “insurance” in case Wressle needed a sidetrack, because a raise in those conditions would have obliterated the SP. I hope that means they have a substantial chunk of it left to fund whatever they target next. I don’t I,anime Wressle upgrade can be that expensive - it doesn’t seem to involve that much new work (I think UJO only mentioned it in their placing as one of their “positives”!). In any case we also have money coming in from our production wells prior to Wressle and this on its own should clearly be covering our standard costs at current OP and be providing a nice little contingency fund on top.
It would be interesting to find out how much Europa have got left in the bank from the last placing which was only in February. What happened to the work over at the existing wells? Or have they earmarked this for wressle now?
@Tovoc. That’s looks like a bit of a half full or half empty list!
Wressle flow rates announcements is down to EDR,
Morocco what would we expect to hear until they get some one signed up (got a bit tired of the phrase “interested parties” etc),
North Sea - can’t argue with that one, I only hope the delay works out to shareholders advantage here
Expect a report sometime this week - there is always some flexibility around these and I hope they are timing it to have maximum positive impact. They are also managing without a full FD as a sensible cost cutting exercise during COVID which I guess may mean it takes a little longer to consolidate the report
Inishkea - “the dream” - at least pressure is continuing to build on the Gov - did you see Tommy’s link to the Nephin article today on the other board?
Salaries - over generous in terms of size of business and not sufficiently linked to SP performance, especially when CEO and Chair have no substantial shareholding.
Benefits - working from home wasn’t a perk, it was another cost cutting measure, which I would fully support. Why would we want to waste money on offices in current working environment?
I am as anxious as you to find out how much Wressle is bringing in and whether we are going to seize the opportunity to add shareholder value and not throw it away this time. So far Simon has struck me as, if anything, overcautious - we will see. I console myself on the reporting delay that the figure they will report for how much Wressle has brought in so far can only be getting bigger!!
What we don't know:
1) How many bopd Wressle is producing, continuously?
hence how much Europa is making monetarily.
2) Whats happening in Morocco?
3) What's happening in the North Sea?
4) When Europa will report?
What we do know:
1) Inishkia forever stuck!
2) Europa pays well, good salary (benefits), home working, open ended projects with no project deadlines, no project updates, no set date for company reporting!
---------
Draw your own conclusions on how the company is run!!
IMHO