Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Tacoma,
I don’t get it, EOG must have £4m in cash as I write.
They have onshore production of c320bopd.
They must be earning close to $1m in revenue every month, from Wressle and other wells.
25% of serenity and their licenses in Ireland and Morocco are according to the market worthless.
I will sell the wife if this goes to 1p, could maybe get another 1000 shares.
You are not alone plasterer
@ is deer, exactly right there, that’s what I can’t figure out, what’s gone wrong here, I’ve not only got a significant monetary interest here but also foolishly an emotional tie to this share after so many years. It’s frustrating.
Along the lines of what you posted it does look like "first year allowances" are claimed in the same year the investments are made, Just what I googled..
https://www.gov.uk/government/publications/cost-of-living-support/energy-profits-levy-factsheet-26-may-2022#_ftn2
Eh, breakeven?, I was thinking they are sitting on £5m in cash, with 1m loan to return to UJO.
300bopd for the last year c£7m revenue, maybe £2m in cash, after taxes etc, some of which they may get back, they also have the surplus c£2m cash from the serenity drill.
If this gets to 1p I’m buying 2 million
Thank you Selfish but I’m all to aware of The Company history. Like him or loathe him HM had us at 7p in 2017 with very little production. What he could do was sell the company to P,i’s to encourage SP growth. If SO can do the same I’ll pat him on the back and set up a bronze statue of him in my grounds. Thanks for your input though and you were very polite this time.
Not sure you realize this Tacuma, but the share price was 0.75 in March 2020, Simon Oddie took over as CEO in August 2020 when the price was 1.15. Maybe you can treat to yourself to buy some shares now!
I had expected an operating profit of between £0.5 and £1m this last financial year to July 22. Serenity expenditure will be in next years accounts, with a much bigger Wressle income set gainst a £4.5 m Serenity expendture, so at best breakeven. I think the tax advantage of Serenity will be felt in the following year to July 24 where profit will be maximised with no tax due because of the tax set off of 90% of the £4.5 m. I'm not an accountant, so maybe theres a better outcome.
Balance sheet this year will look ok, with additional £2.5M still in the bank.
Yes, maybe we will get an extra 1,000 bopd from Serenity if Repsol go ahead. Have to wait for the revised CPR to see the possibilities.
https://gb.wallmine.com/lse/eog/officer/2015510/simon-oddie
This rep does not show a guy who'd keep quiet for no reason... Reckon he's brewing something good to give to shareholders.
Lots of buying going on, I might even consider it myself if we stoop to Simons previous record of 0.75 in 2020. GLA as usual.
Maybe there is a corporate action keeping him busy?
Just added 25% more to my total. Cheers!
slowly ticking up. red to blue.
sellers drying up now.
time to get in. look at how UJO continue to rise
I’m hoping with the Final Results due next week that he clarifies the real cost to us for the Serenity appraisal drill due to government tax relief. We may even get a free carry with Serenity with around 1000 bopd. (Assumes 50% to Repsol & EOG 12.5%)
Finals last year Thursday 21st, has a date been confirmed for this year? thx.
Bramhill will be playing a waiting game with SO in charge here. I can see UJO bagging another 10% of Wressle on the cheap to fund the SO strategy.
SO reminds me previous CEO who was constantly diluting shares to pursue his ego with Ireland exploration. I would like to see an update to Morocco, which was so loud about last year and suddenly gone quite.
I have added more this morning betting on Wressle value and so low SP in comparison to it. I just hope Simon Oddie hasn't got in mind more placing to pursue his EGO/EOG of diversified portfolio in time for his retirement.
SO will do nothing other than keep the status quo.
Simon Oddie is starting to look a little 'missing in action', to have just missed on the largest investment case for a long time, he really should be up on the podium, he has a lot to shout about. Great cashflow from wresstle, cash will be offset on the gov levy so not such a financial hit as many first thought. potential to develop the existing discovery in the east which, based on sand thickness, should be even larger than Tain, all these good things and he is quiet, not really good skills in my view.
Personally I'm not interested in CCF's opinion. From my experience he won't say anything that isn't a little bitter and negative.
I'm more interested in what the people in charge NOW have to say.
HOW they are promoting Inishkea and Inezgane is important to know, even if they are hitting brick walls. IF the only way to up the share price is to get on with advancing Wressle, then it needs to be done, and publicised. IF that means that in a couple of years we are missing a project, then a new project needs to be announced WITH the reason why it's so important.
Some posters have recently shown that they need to be led by the nose to feel confident with their investment. In my opinion, now is a time to lead the nervous investor by the nose - perhaps even lead the more weathered investor like many currently posting. A frank update would be appreciated, because I for one, think it would lead to a big bounce in the share price.
All is not lost by a long shot. Eog are producing around 320bopd which isn’t far off UJO at 30m market cap. I did say previously the MM’s will try and take this down. The current climate doesn’t help this situation. I don’t think SO or the current bod are fit for purpose I think they are out to line their own pockets only. This company is fit for consolidation with organic growth via wressle as it has so much potential. Unfortunately Egdon take their sweet time taking advantage. All the prospects we have were provided by previous directors not the current motley crew. I would be interested to hear crushcuts view on the situation, where should they go from here?
Absolutely, and not to mention that these other assets far outweigh our current MCap, in fact on Wressle alone. Hopefully they are putting together a plan along with I3E gang to monetise Serenity.
Picked up a few here late on after watching from the sidelines for quite a while. Certainly don't think all is lost and there's definitely a case to invest down at these levels. Looking forward to the future. I was in ADV earlier this year when they hit a duster which was much worse than this. At least EOG has other assets.
Volumes look ok, there is just a sense that the SP is getting pushed down atm, which I would guess may intensify tomorrow if someone can make some money by such a drop and subsequent bounce - would look for rise next week perhaps with the Final Results confirming very healthy cash position.