Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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PPS, It should read "Struggling to buy more"
Anyway my rough calcs at PE < 2 are at current SP. If we double or treble from now, then that should be a fairer PE at around 4-6.
Come on DB of UJO, You can get the other 30% of Wressle for £11M currently never mind the loan, its currently a steal, but I know you'll already know that. Maybe the numerous 500,000 purchases are a white night partner with cash to invest? Maybe the MM are collecting up for UJO. know that could be a theory!! GLA DYOR
You maybe right plasterer and gusto.
It would be nice to get above 3p again, even 2p for a bit of realism on sp.
With the finals potentially due thursday/friday that should give us a more realistic view of cash in hand as well as profits from all ventures especially Wressle. I could roughly estimate if a full year Wressle puts in around $9M ish plus others covering overheads you should have a PE of less than 2 !!! (Mega cheap). Serenity will be on next years accounts and losses against Wressle profits, so a loss on the accounts, but with more potential from Wressle prior to next full year accounts, then PE would still be less than 2 depending on further Serenity costs, Wressle costs, dilution if needed and any further dusters if needing further appraisals. To me its disheartening at the moment, but seems at these prices a reasonable cheap safe bet. DYOR GLA etc
Ps. Any thoughts Yanis pal, there's some nice malt on hold here!! I think we both need some if this doesn't move back before Christmas.
It’s reported that EDR has got a gas-to-power scheme planned for year end. It might not be then but it will be soon thereafter I suspect. Increased production will help EOG’s share price recover.
A whiff of any progress on Ireland and the price will rise substantially. However, the odds of this look slim at the moment, but lots of reasons for some progress with Inishkea.
Not a good omen.
I was down about about 50% due to serenity as I was buying on the better than 50% chance of around 200M boo. I did buy my first lot at just over 2p but topped up a few times over the months leading up to the drill. I've averaged down a bit and maybe again tomorrow, if I can.
I really do feel this has been well oversold and the Wressle alone should keep this share price well over 2p. Ah well, let's not panic, it's not going bust and should move back up in time. Who knows, with the politics as they are, maybe Uk and Ireland will be beneficial over the short to medium term. Gla dyor etc.
If you get in the fetal position in a corner somewhere and then have a good cry for at least 1 hour, you will feel a lot better for it afterwards
Oh dear; my substantial investment is back down 85%.
Europa has been my greatest investment disaster in my entire life.
False dawn after false dawn; dilution after dilution.
Will it ever end!
IMHO
Yes the mms want to pull your pants down for a buyer then raise it back to 3.5p on results!
Still waiting for 1p
Not sure if it will happen or not . who knows
The 47% drop still stings now
Im glad i sold IOG a while ago after there reaction today was similar
Feels like somethings happening!!
I'm trying to average down but can't buy at the moment, but I could sell.
Feels like MM holding on for somebody or something. Any thoughts?
Well if this is what good news gets you these days lets hope we are done with the bad….
*here
just bought small amount again today at 1.17 pence... are the finals due on Friday 21st October?
don't have much spare cash at the moment but happy to put some hear and happy to trade and hold.
i like it.
Wressle soon to be doing 1400-1500 barrels once gas online.
Our turnover and profit to market cap is going to look a bit silly if we're still at this kind of price.
That also doesn't account for our other producing assets or anything for Serenity,Ireland or Morocco.
Hi Gusto, if we do get a year of $130 per barrel that would bring about $9M per year to EOG, trouble is it would choke off the economy too which would lead to more depressed activity. Incidentally an $9M income is encouraging when EOG is valued at Market Capitalisation of £11M , just hope the Management team here can set a steady path then this is a nice entry even if it dips below 1 pence due to economic worries and winter blues its a interesting setup to watch and accumulate steadily.
10% is nothing when you can make 200%+ as a minimum.....
Oh well..
Looks like the big 500,000 buyer yesterday was looking for a quick ten percent.
The world needs oil and gas... Even in recessions..
Price of oil set to be $130+ especially when old boy Biden is draining the SPR..
EOG is debt free and making cash...
Whats not to like?
I wish I had funds to top it up.
I just don't understand where all those big sales are coming from? It doesn't make sense....
What if Bankers know something we don't, such as next Financial Crisis...I am wondering how would this impact EOG...?
Me too gusto. Its not even like they sold on the immediate morning spike. Unbelievable!
Bought more on the dip....
Thanks selling morons! You gifted me some more cheap shares.
Not the worst RNS I seen, little financial damage but not much. I was never very keen on the Geothermal route but looking at the massive profits gained by clean energy subsidies to solar and wind development companies , maybe this route could be more profitable than I thought. Perhaps the old West Firsby field could be developed with some of the billions that seem to be readily available . I’m starting to look at the project with new interest instead of just dismissing it as another cash drain. It seems that Brian is emerging as the face of Europa what with his involvement in Ireland and geothermal development.
Just musing and trying to make myself feel better until this miserably low SP recovers. GLA as usual
Afternoon bounce is on the cards
Dalton,
EOG haven’t spent any of their Wressle cash.
I would also suggest they have circa £3m more than EDR, who had to borrow £1m from UJO pre wressle results, they have since repaid but it’s bitten into wressle profits.
EOG’s current bopd is c320 from wressle and other production.
What’s EDR’s in comparison, mcap 19m v 11m for EOG, somethings not right.
I bought in today with what is left of my IOG investment (-56% down today!).
I hold EDR, UJO and now EOG. Regards valuation, I think £12 to £15M is about right currently, especially when compared to EDR and UJO. EDR is valued at £19M today, but has some other production and a few more irons in the fire, such as 2 planning appeals - Biscathorpe imminent. Plus they have not spent their earnings from Wressel. (I am ignoring Resolution gas license, and I dont believed Fracking will happen - there is nothing in the SP for Fracking currently).
For me, the compelling upside on all of these, is that once the gas processing is sorted at wressel, oil production can significantly increase. The field has a life time of 15 years, so this really is just the beginning. Anything else that comes good for any of these stocks is just extra upside. UJO probably has the best potential upside. In time it would make sense for the 3 companies to consolidate.
I believe that there will an announcement on the gas processing at Wressel before the end of the month - according to a Tweet from Egdon. Another bullish sign is that UJO recently exercised warrants for 3% of the share capital in Egdon, im hoping this is due to the gas processing and upside I have mentioned.
Yes Serentiy has potential and im sure EOG wont want to call it day just yet, but my point is that on the current valuation you have upside just from Wressel. Not fully researched what else EOG might have (good other prospects or bad such as warrants). After the IOG haircut today my stake is quite small here, but I have significant exposure across all 3 wressel stocks.
Original "Loan" RNS stated, IIRC, that early repayment without penalty was in the contract, so EOG did their due diligence in that respect and I expect that was purely on the basis/chance that Serenity did not come in for us... Which makes sense.
We're cashed up, (also awaiting cash back to us), and earning well from Wressle, (daily), completely debt free AND still pursuing Serenity in the SA01 region which is already proven. Whilst we wait, Wressle cash inflow swells monthly in the bank account.
What is not to like? Aside from the share price lol. Wressle update is due.. so i'll just sit and wait!