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Posted by Tommy241
Https://x.com/Europaoilandgas/status/1770758400726401454?s=20
The lack of news on Cloughton and Wressle etc is worrying.Sent Eog a request for an early update.Looks possibly like all will be put back yet another year. Hope we get news soon.If others can write into company we might get a proper update not just another wish list presentation.
Presume those two huge trades are some kind of bed and isa - the numbers look about right and the SP seems unaffected.
"Another offensive and ignorant post" - Not really Fairdealer - its factual as was my previous post - it seems you have a problem with the facts
Offensive is accusing people of peddling untruths without any foundation.
As for where Shorters do not get their shares from - I have told you - not from Hargreaves Lansdowne and I would venture to say not from any other reputable online broker unless the broker offers shorting and has expressly got the permission of shareholders to lend out shares
So where do they get their shares from:
1) Not from Hargreaves Lansdown !
2) Unscrupulous Brokers
3) Brokers that offer a shorting service and have expressly got shareholder consent to lend out shares
4) Managed Funds - this has been widely reported in the press in the past.
So there you go - let me know if there is anything else I can help you with.
Tony,
You have made your point, i will just make a couple of points. The share price drop in 2008-9 was definitely because of the financial crash. The drop in share price after Paul quit could be seen as the markets not really liking that outcome.
Anyway, the share price at present is dire and it is a penny share. The BODs really need to show they are deserving of their pay which has trebled since Paul was in charge.
Another quite offensive and ignorant post.
The question of Shorters ( where do they borrow shares) has not been answered, because you do not know. Quoting HL is open to scrutiny. There are investors who openly admit they have allowed Brokers to lend shares for a fee. It is the rump of shares loaned and not openly disclosed that should trouble PI's. It is no secret Brokers have algorithms in place that recognise clients who sit on shares ( LTHs) as opposed to those who regularly Trade and therefore a pool of shares capable of being loaned.
Being offensive adds nothing to the debate. Criticising past CEO with highly questionable statements is not on as confirmed by posters who know different.
End of....
Addressing some of the comments:
“Yet more nonsense from self-appointed expert. HL may state they do not lend shares but where do shorters acquire shares?”
- If you don’t know where shorters get their shares – don’t go and make sh@t up. Hold you hands up and say “I don’t know, I will do better next time and go research the topic properly” then maybe you can self-appoint yourself as an expert !
And for those that said “I cannot let you get away with peddling such untruths” and being “disingenuous” – lets cut through the nonsense and take a look at the long-term share chart on yahoo. I’ve summarized below what I see but encourage interested posters to pull up the chart for themselves. I’ve also posted some selected numbers for reference from the chart.
1) In June 2005 the SP was around 36p
2) The chart shows some volatility but entered into a long term down trend falling to about 5.5p in 2009
3) Recovered to about 13.7p on the 9th May 2010
4) There was a very short-term spike up to 41p on the 13 Feb 2011 that lasted a matter of days
5) By the 24th April 2011 the SP had already fallen to about 18p around the time Paul left the Company
6) And a matter of months latter on the 14th June 2011 the SP was around 11p and has been on a down trend ever since
Looking at the SP in the months before the spike and the following few months after Paul left (ignoring the spike which appeared to be due to a short-lived event) – a representative SP at the time seemed to me to be around the 13-14p level.
From 36p in June 2005 to 14p around the time Paul left and 11p only 1 or 2 months latter – I don’t see how I can be accused of peddling untruths and being disingenuous. It seems to me that I’m the one that is owed an apology here. And it’s worse than the headline numbers above suggest– an ex-colleague of mine once said – “if you’re going to fall over, fall quickly, get up immediately and start running “This didn’t happen here – it took 6 or 7 years to fall under Paul’s tenure and no one has gotten back up since!!
29.7p 1st Jan 2005
35.4p 1st Mar 2005
5.49p 8th Mar 2009
13.4p 1st Oct 2010
11.98p 10th Oct 2010
39p 1st Feb 2011
18.1p 1st April 2011
19.2p 24th April 2011
13.8p 26th May 2011
6.1p 20 Nov 2011
I rest my case your Honour!
CCF - glad you did take the time to respond- as someone who wasn’t invested at that time found it an interesting read. Personally don’t agree with the views of a poster on the other Board that we are too polite here and should instead be hurling abuse. - whether that’s at each other or the Board.
Talking of 40p, I'm probably one of the very few investors who is still here that sold at that level having bought in at 22p. So Paul did deliver on that score.
EOG at BEOS next week.
www.beosevent.com
Tony,
Also an apology to Paul would not go amiss, although I won't hold my breath.
Well done Paul,
You’ve saved me from saying what you have posted.
Tony you were disingenuous if not downright rude to refer to Paul in the way that you did especially as you know darn well what his surname is .
You have not done your reputation any good by your post. I expect that you will respond in your normal way as the self appointed censor of posts on LSE.
Yet more nonsense from self appointed expert. HL may state they do not lend shares but where do shorters acquire shares?
As for Brokers controling when PI's can vote, we have seen it here when Brokers would not issue nominee account holders, statements which allowed an EGM to be called.
The disrespectful way in which Paul is portrayed says more about the poster than the real performance of the past CEO.
Tony,
Nominee accounts will normally vote the way you ask but if you ask your nominee account holder to requisition a meeting, they will most probably say no they are an execution only service, I know I have it in writing from Hargreaves Landsdowne. As for share certificates, these will be obsolete when the digitisation of all shares takes place in the near future and unless the law changes you can probably forget ever holding the directors to account unless you have a private client broker who is willing to request a meeting. Most wont.
I am not sure what you have against Paul Barrett (that is actually his name, it is not what's his face) but was the one who identified Wressle and brought it into the portfolio, he drilled the very successful Whisby well, and was the first CEO to go into Ireland (which everyone still thinks is great, except me because of the politics). So yes he probably would do a better job than all CEO's who have come after him, for one thing he has a large number of shares and wants to see the shareholders make some money, not just management. However, and I am not sure how many times this has to be said but he wasnt going to run the company but did want to see change, which he managed by getting rid of SO and Stephen.
There’s been a lot of nonsense on here about nominee accounts – it is a widespread myth that UK nominee account operators (most brokers and stock trading platforms) lend their clients' stock. The FCA prohibits this, unless explicit permission is obtained from each client. I know Hargreaves Lansdown don’t do it – I’ve asked!
Also, there are benefits for Investors in having nominee accounts – it allows the brokers to pool funds amongst other things for more efficient administration resulting in lower costs for customers. Most brokers worldwide operate the same way with I think Singapore one of the rare exceptions. If you don't like nominee accounts - get them to send you a share certificate - just watch out the dog doesn't chew it up or get burnt in a house fire !
It’s also a nonsense that online brokers get to decide when you can vote and when you cannot.
My previous reference to Paul what’s his face not having sufficient votes was in reference to the results of the re-election of directors where the directors put forward received significant shareholder support. WH was not on the ballot this time round but seeing that he was probably the most popular – it seems clear to me that Paul was not going to get very much support at all.
This all ignores the fact that Paul’s tenure as CEO was a disaster in terms of share price performance – just take a look at the graph! Not only that – he did not seem to be willing to take on any questions why he would be a success second time round given that he had failed previously. I rest my case your Honor!
Will be interesting to see how LOGP get on with their case against the Irish government over the next few months. Well worth reading their boards and comments from swizz.
Morning Gerry, I have lived abroad for years, so out of the nitty gritty, but as far as I know, from the Providence, Barryroe & Landsdowne boards over they years, they are as bad/blind as the Greens against new oil & gas exploration licences, but I see no mention of honouring existing licences. If elected when money is wanted for their huge social programs, maybe we might see some very fresh thinking !!! :-) I also expect a Sinn Fein & Greens & other left parties have a 50+ % chance of forming the next government. See link below to their latest policies, not much clarity for us, under the renewables section. GLA, DB
https://www.sinnfein.ie/policy-document-archive
CNOOC would be an interesting choice. They had originally farmed in to the DNO Corrib block, so there could be more than one area of interest.
EOG will tie up with Afica oil imv
From news articles I’ve read, Exxon have been planning to leave since late 2022. Chevron on the other hand actively looking for more licences.
Donalb, have you any idea what the position of Sinn FĂ©in is regarding their policy of offshore gas in Ireland?
Article in FT today on oil and gas interests in EG, it doesnt make great reading. Exxon has pulled out and despite a concerted effort to get a western major to buy there assets, there were no offers. The president is under investigation in US nd France and he is now turning towards the Chinese. It sounds like a difficult situation and may be more difficult to find a farminee then we had anticipated. I hope WH has contacted CNOOC.
As long as we get inishkia going am not bothered tbh