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Well they are strongly incentivised to see success in Equatorial Guinea now.
Looking forward to them highlighting further substantial prospective resources in deeper targets in due course and netting a farm in partner.
Totally agree. Honestly, sick to death of this money grubbing board. Given the massive decline in SP they should have vested at 3p or so - the price the so was at before serenity. Also, given a possible over 20p sp should the almost certain EG drill work out how on earth do they justify options at this price - it is because REMCOM are part of the club
They know after the failed resolution they are untouchable until their terms are up. I thought we may have turned over a new leaf - I have nothing but contempt for them - not that they care
Vesting criteria of options is hardly stretching!! These guys haven’t got the message from shareholders re their ridiculous remuneration. In my view options should only vest if the share price is at least more than 3 times higher than the share price on the grant date.
Old options cancelled and a lot of new options issued, although none of these vest for 3 years - so very much a long term incentive. Seem to invest if SP is at least approx 25% higher than today at the time - if I’ve understood it right.
Indeed it was after close
That’s a Stella RNS - issued just as I took my first swig.
Serif anything will be good ,like you say nice and steady
@ B - doubt if we will see a 1-200% rise tomorrow (closer to its value!), I’d be happy if we could get a steady rising trend, continuing to clear out as we go.
Should bounce tomorrow back to true value
He’s put a lot of money into this company over the years - and continues to back it with serious cash - 6% of the company is a fair whack. Clearly thinks it’s way too cheap at present for what’s going on - and I agree - even if I can’t quite stretch to buying 6%!
Ex non exec director and long standing shareholder WA has topped up.
Rns out
Confidently increased my holding over the last couple of weeks, risk/reward is stacked hugely in favour. Sentiment across all sectors is down, however it’s always the time to buy.
Buy, increase and hold to see how EG plays out this year for large gains. Anything positive in Ireland or NS is a bonus, Wressle is a bill payer (perhaps a little more).
Clear chart support below around 1p.
Seller out.?
Ultra cheap stock all gone?
From Malcy’s blog.
A little bit at the end also regarding EG.
Europa has announced that the Wressle-1 well’s gross production is currently averaging 665 barrels of oil per day, as the Operator, Egdon Resources U.K. Limited, continues to evaluate the reservoir response to increased pump rates.
Europa holds a 30% economic interest in PEDL180/182.
Further to the Company’s announcement of 11 January 2023, Europa confirms that its free cash flow (pre-capex) for 2023 is expected to be approximately £0.8 million and, as at 30 November 2023, the Company’s cash position was £4.26 million. The lower than forecasted full year free cashflow was primarily due to delayed 2023 Wressle development activities which reduced revenue receipts for the 2023 calendar year but equally resulted in materially lower capital expenditure than originally forecasted. The Company has sufficient funds to cover its forecast capital and operational requirements for 2024.
Will Holland, Chief Executive Officer of Europa, said:
“As we announced at the end of last year, our engineers are closely monitoring the W1 well and are optimising the jet pump rate to maximise oil recovery and value from the well. This remains a dynamic process and we may decide to increase pump rates further as the well performance continues to be assessed.”
The same announcement pretty much from Europa but they, whilst appreciating the good news from Wressle, are keen to point out that there is more to the company and that they have sufficient funds to cover investment and developments in Equatorial Guinea at the end of last year.
Expansion away from both Wressle and indeed the UK onshore is very wise policy and shareholders should appreciate what Will Holland and his team are up to. If EG works as soon as this year and I believe that it will, it will soon show signs of rewarding the investment they have made.
Computer allocates by mid price - must be buys or there are no trades showing to explain the rise.
Why are they showing as sells ?
Looking forward to tomorrow see what happens gla.
Certainly a lot of buys at end of trading in decent amounts if cleared this could really bounce and rightly so for lths
It's high time this traded at £15m mcap
Lets see if that's cleared out our seller - could start to resume our post EG rise if so.
Nice 5 million bought at the end there
They buying up some shares today
Forget Inishkea and Cloughton for now.
For real share price growth this is all about Tain and EG imv
Inishkia needs sorting soon