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EOG Directors have broken many records with the lowest sp ever !! Not all shareholders are happy with that performance Brezy.
You sound like a broken record. Give it a rest ffs.
Bobbyb, I am certain that the new Labour government will put a stop to Claughton ever getting planning permission for gas extraction wherever EOG decides to drill . Another absolute waste of shareholders money and only provides kicking can time for the EOG Directors to continue to pretend to be earning their fat cat salaries for doing absolutely nothing for the company shareholders. The Directors haven't a clue about forward planning and predicting what will happen in the future and doing good and realistic risk assessments of their plans. No future for EOG without a change in strategy by Directors. Use the money earned from Wressle wisely!! You have wasted over £7 million over the last 2 years with zero return!! Criminal, while you are still earning your fat salaries and getting nowhere? Let's get some decent return on the shareholders investment.
!!
Https://x.com/europaoilandgas/status/1784866850607677668?s=46&t=yb4bY8lQ32WiMrlMFx8_yQ
Gardener, problem is that the Directors haven't got any other true or real excuses for the sp being so low except themselves and their crazy obsession with blockbuster over the rainbow farm in deals when it is EOG who are splashing their cash to farm in to 3 crazy very wasteful deals at Serenity, Inishkea and EG. Not one farm in nibble from a big oiler in sight, how wasteful is that of shareholders money? Directors have to go or change strategy or the company is well and truly sunk.
.9 I see????
this should be a place for polite conversation and exchange of ideas and not for silly ****** comments.
Vermillion should stop or reduce production until the tax situation is sorted with the Ireland government. What an odd shower of s*** the Irish government are. The Irish people who use energy in their homes will end up paying dearly for this tax, tax, tax on the producers. And the imported dirty gas from the UK will increase so the greens will go backwards just like the Irish like it. Living in the past all the time? Never learn!
That explains Vermillion's reluctance to farm in then
Maybe some Vermillion pushback on huge windfall taxes & lack of licence progress will focus minds. Vermillion could even stop production for a year or two to avoid the worst taxes.
https://www.independent.ie/business/corrib-gas-field-operator-challenges-states-windfall-tax/a1628932224.html
Seems UJO was run by con men and crooks with an American side show thrown in up until a few weeks ago. Now hydras is saying it's the next best thing since sliced bread... Random to say the least... Next....
You should just invest in shell or BP, if you want a steady income .
Hydras - yes, despite being investors in eog we are not complete fools, and I think those of us who also read the ujo board get where you are coming from.
UJO changed strategy from investing in UK oil and gas development to USA with a partner that is producing oil and gas and has extensive experience and knowledge of the producing oil from similar types of Wells being developed in the area. Also they have invested the shareholders cash into already producing oil fields with Royalties which gives regular assured income to the company with extra benefits if other wells are successful. Extremely important and WISE tactics employed by UJO. THEY CHANGED STRATEGY FROM BEING A UK ONLY OIL AND GAS DEVELOPER to spread their wings and EOG must do something similar to survive and thrive otherwise demise!! Get it?
You’re right, if none of their ventures come off they will eventually run out of money. But that applies to any business. None of us can see round the corner - you were predicting disaster outs things for ujo just before the SP turned around unexpectedly.
My prediction is that if they continue with their current strategy of high risk and very costly adventures they will eventually run out of cash and fall into liquidation so sp will disappear. Is that what the shareholders want. Kamikaze directors?
Yes G. More lots of high risk and not a sniff of reward yet in my case!
This makes me smile even with such a personal loss.
High risk and yet to reward is probably more accurate?
I guess there are companies around that do something like that. But if eog changed to this, you would then need to hunt around for another high risk/high reward type company to replace it to keep the portfolio range.
Outlandish idea!
We could turn Europa into a cash shell company and just give out divi's and do share buy backs!
Have minimal staff who require small paypackets and pension contributions;simply live of the earning of Wressle and its continued development!!!
IMHO
Exactly, Brezhnef. And if you are a high risk/high reward exploration company why would you change strategy to become something else when there are already other business with experience occupying that space. It makes no logical business sense.
Surely Europa have learned hence the move to EG with a much more favourable environment to do business in a prolific oil and gas discovery region with a asset that has a 90% chance of finding a commercial discovery.
Serif, think about it logically. My investments are spread over many different companies and if I see any that I consider are underperformed then I will obviously say so on the BB. It is obvious that these directors are making extremely poor and ill thought through decisions with the shareholders money. Not just once but 3 times, with Serenity, EG and Ireland. All the same mistakes made on extremely high risk ventures, that are several years away from possible payback, if ever at all. The directors need to learn lessons instead of making the same costly mistakes again and again. You must be fully aware of the insanity of persons who attempt to do exactly the same thing over and over and over again and expect a different result? CHANGE STRATEGY - LEARN !!
Https://www.lse.co.uk/rns/I3E/2024-capital-budget-and-production-guidance-t3csrql5dqf7lb4.html
"UK Operations
The Company continues to evaluate development options for the Serenity discovery in consultation with its partner and the North Sea Transition Authority. There is no capital budget associated with this work in 2024."
Nearly nine o'clock and one trade, i think things could be moving?
DYOR