The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Decommissioning costs? Wow you must be confident on the quality of the asset if you are already thinking about that!
History of other small oil companies doing exactly the same is not good at all. The directors throwing more and more money, garnered from the shareholders via massive rights issues, at the risky exploits didn't work either and they ended up in bankruptcy. Both the PRIVATE companies Reach (UJO partner in USA) and Antler Global (EOG partner in EG) will do very well out of their selling of these extremely risky assets that no other companies with many years of experience behind them in these areas would touch. It is easy to spend money on these risky adventures when it isn't your own. Has anyone considered the overall full life costs, including decide commissioning. They need to be extremely cautious in what they are getting involved in.
Worth scrabbling for though isn’t it
Itsawrap. You are perfectly correct in your assessment of Egdon now taken over by HEYCO. My belief is that HEYCO provide confidential information about development progress on each site to both EOG and UJO but it is severely censored and redacted and it is only the "good news" or palatable news that is transferred to the shareholders via RNS's with caveats such as - possible, likely, may, provisional, and reading between the lines it is just more of the "over the rainbow" wishful speak we get told every year about HEYCO's plans for each site. HEYCO have never met a planned date yet and you can at least treble the timescales to complete any of their projects and some planned dates just dissappear and fall away each year, like Ked and Bisc. It is truly a shambles and I can fully understand why DB and WH are scrabbling around the world for extremly risky and relatively expensive tit-bits that have been left behind by the big boys! What a way to run a business?
Itsawrap agree but recent news and plans bodes well for rest of year imho
Wraith ,thanks for link yes interesting read
It's all very well having a "planned program" for Penystone but Bramhill failed to mention that Egdon missed their own January target for submitting a planning application. nothing can happen until they have planning and all the permits, H2 2025 perhaps? Egdon has been due to drill Keddington (an EDR/UJO jv) "this year" for the last 3 years - now supposedly 2024, Kedd has planning and all permits! So one has question the competence of Egdon, they talk a good game but have only delivered on Wressle.
from todays ujo rns
in the uk, we have planned programmes, which include the drilling and development of the *****tone flags formation, containing material gas reserves on our flagship wressle development.
Page 21 ( https://www.vermilionenergy.com//wp-content/uploads/2023/01/Vermilion-Energy-Corporate-Presentation-February-2024.pdf ) does make interesting reading, thanks for posting the link VernetLes.
BW
People can do there own research and see that the share price has been been on a downward trajectory for a very long time. However, the BOD keep raising their salaries. They are in control of the company, not me or you. They have control of the shareholder sentiment and whether shareholders are on their side. I will be more than happy to see a farm out and even more than happy to see a well drilled that is actually transformational but they need to deliver and soon because no one is happy with a penny share that isnt going anywhere.
Inishkia will be transformational for eog imho
Not from me I’ve been here over a year now looking to add more this week med/long term investment
I agree that long term it’s the progress on assets that will drive the SP not the sentiment. But as essentially a small PI retail share this is likely to be affected by what people read on boards if only to make them postpone buying or jump in - which is why you get traders ramping and deramping across all these small retail shares.
Or William putting his hand in his pocket.
I don’t honestly think these boards have much bearing on people investing, it didn’t affect the last few fundraises, serenity?
There is also a positive correlation between negative sentiment in this board an low share price. How can we expect anyone to invest if existing shareholders denigrate the company
There appears to be a very good negative correlation between BOD salaries and share price over the past several years. They really need to start showing that they are worth their exorbitant salaries, which means getting the share price up, not down!!!
I’ll top up if it drops below 1p on Thursday got some funds then
Agree very vulnerable to a takeover
It doesn’t get much more opportunistic than 1p per share to buy us out, we are so vulnerable to a lowball takeover at this price
"Focused on opportunistic European gas acquisitions"
https://www.vermilionenergy.com//wp-content/uploads/2023/01/Vermilion-Energy-Corporate-Presentation-February-2024.pdf
Providing 1 5 TCF of gas ,now if that doesn’t encourage one of the big conglomerates to take part in a J/V then nothing will imho
Short interview appearing on Proactive today summarising the way forward on Inishkea.
https://www.proactiveinvestors.co.uk/companies/news/1040514/europa-oil-gas-outlines-benefits-on-licence-extension-icymi-1040514.html
Les yes good plan I’ll top up again next month last bit of my isa for the year
With steady state W1 revenues and strong oil price and in the absence of fresh equity I think it's worth taking a position and holding 12 months for either for EG or IW farm out. Serenity Tain might yey surprise.