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Calling the Agm early is a good defensive strategy.
It would be interesting to compare our directors’ rewards with those of our Wressle partners. We don’t yet have Egdon’s latest annual results but, for the year ending July ‘23, Europa’s accounts show that the 6 directors received £722,000 between them, some of them for only a part year. Of this, SO’s and WH’s came to £574,000 between them, or 79.5% of the total for all directors. At the end of last week our market cap was only £11.03 million, so the directors’ annual £722,000 bill represents 5.8% of the market cap. Union Jack isn’t an operator but its four directors were paid £487,000 for 2022. Of this the two exec directors (Bramhill and O’Farrell) received £407,000 or 83.6% of the directors’ salary bill. I note that UJO’s market cap at the end of last week was £21.73 million, which was 97% more than Europa’s, and the UJO directors’ annual £487,000 bill represents only about 2.2% of their market cap. IMO it's completely wrong that Oddie could step down from the CEO role but remain on the Europa board in ANY capacity. Wasn't that one of the issues raised in various corporate governance reports? I think we should vote "NO" to Oddie but I have a lot of regard for the Chairman Brran O'Cathain.
Yep - guess we can make our votes count on other resolutions and of course have on-going shareholder action
Would be a crime to waste the wressle money in the next few years on a bloated board and further pointless board adventures which promise great things but never, ever deliver. Good news is the SP does not have much further to fall. Hope we can get the requisite shareholding together to demand change. Credit to those on this board who are supporting the on-going action - it is rare the little people like us doing anything other then acquiesce
See website
Brian and Will not up for re election
Les yes let’s get it up and running /producing and let the bod get taken over
Whilst the battle for control of the company ensues let's hope for a positive production restart of Wressle 1 early this week. It's been long enough.
Hi i Heidelberg,
Send an email to Paul at pboilcraft@gmail.com.. He will explain what you need to do.
I'm in too, I'll send my info to Pboilcraft@gmail.com.
The share price has collapsed and we have almost a billion shares in circulation.
Nothing more than hands in the till, how do they justify such pay increases?
IMHO
I’m a bit out of my depth.
I hold my shares in an HSBC invest direct account.
Can anyone very simply explain what I need to do for the revolt?
Thanks in anticipation
Reach out to :
Pboilcraft@gmail.com
Hi
1st post here.
I have been reading the posts, news, reports etc…here for a long time. I must agree enough is enough, time for a change of attitude towards individual shareholders.
How do I pledge my support to your initiative ? About 2.4 m shares
@Biggleswerf. I’d noticed the silence there too, but had presumed that as it was a Baker Hughes JV they had probably quietly dropped it when oil and gas came back into fashion after Ukraine invasion. Would be good to hear what has happened just so we know.
It’s funny how they have given up on geo-thermal aswell. I remember you saying it was no goer when they announced it crushcut. Another smoke screen to warrant their pay I wonder?
Double the prime ministers salary for probably less than 5% of the work load. Who do these guys think they are?
The bottom line is they tanked the SP with Serenity. It may or may not have been worth the risk going into it. If it had succeeded then fine they deserve a financial award (but should be through share options/salary) - it didn't share price tanked and yet they report a successful year with huge pats on backs and a significant rise in pay whilst our holding are a third of what they were - how can that be right - shame on them
Going to stop this as I am repeating myself!
Yes it absolutely is - all on the back of one smallish asset - would be different if Ireland had come in and the job was an 18 hour a day role - it is so sad that humans behave this way - really grateful for this share action group which hopefully will bring some justice to us shareholders and see this business make the most of its assets
Mcap 11m and EOG paid Holland 318k and Oddie 395k in emoluments this year.
Total Staff costs increased from 806k to 1.371m.
Directors pay increased from 455k to 855k this year.
Imo this is a disgraceful abuse of EOG’s profits, they should have at least another 500k in cash to fund projects, it’s being wasted, the profits are going to the directors while the share price has dropped of a cliff.
As it stands you can't rule out a bid from i3e , cash and equity.
Dyor
Would then have Serenity, Tain and Tain North for a standalone fpso field development. Capex would require a 3rd party , perhaps Ithaca.
NSRA Licence awards are due to be announced any day.
My guess is that with I3e we have jointly applied for that North of Tain. Possibly with a 3rd party.
Something needs to be done here imho terrible bod
Thanks Heid, by the way Anthony is my middle name, I have two log ins as at one time I couldn’t access my registered email and forgot log ins. I couldn’t get into my Anthony one, been that long I have no clue what my log ins are.
Don’t post anymore but still check on every morning at 7am, that is probably 13years of conditioning! Think Paul and Erika are the best people to get us out of this rut, the potential is huge, we just need people leading the charge to be investor focused rather than lining pockets. At least they have some serious skin in the game!
Karl 1
That's good. It would be good to see you post more again. Everyone seems well behaved on here nowadays.
I dont know about you but my hopes have been raised, fingers crossed and good luck it's been a very long painful wait.