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Not sure we can interpret MM marginal share movements - they had it up to 1.40 earlier this week but that didn’t seem to reflect a particular buying spree. Think volume over last 2 days has been about normal and based on dummy buys there have been 400k more buys than sells over last 2 days. Still seem to need something more positive to lift us out of this narrow range. Let’s hope that might come next week from the CPR.
SelfishMcNimby,
The MMs could drop the Ask to 1.15p, but it is still the same conclusion - more shares available for sale than people want to buy, to put it simply more sellers than buyers.
This means the SP is under pressure to drop yet further down.
This means positive market sentiment is non-existent, is zero, zilch, nada, dead!
Thanks BOD!
I’ve got a grip thank you. I suppose I just wanted to state the obvious which is considering the assets something appears fundamentally wrong with only two trades does it not ? as if we don’t exist.
Excuse spelling, no glassy.
Yanis, what it means is the market makers are trading buys and sells below the mid price. That's all. They just haven't adjusted the bid and ask prices.
Heidelberg, you may be right on that, but it doesn't help stating things as fact that aren't TRUE. Get a grip man.
Dummy trades:
Bid 1.10p … Ask 1.20p
Sell 100,000 @ 1.101p. - will appear as a sell
Buy. 100,000 @ 1.145p - will appear as a sell
This is not good as it indicates that right now more shares are available for sales than buys.
Sentiment is nonexistent, zero, zilch, nada, dead.
BOD doing a great job!
You’re easily impressed, at this rat most of us will be dead and buried before we see our money back. You obviously think things are great I think they are atrocious.
FFS Heidelberg, look at the prices instead of spouting nonsense. Maybe you should do dummy trades....
FFS SI 4 SALES TODAY NO BUYS
I don’t believe that a merger will benefit us. I agree with Serif on this one as EOG is in much better position fundamentally than EDR, and UJO.
The Irish asset will be of immense value once the Irish wake up and smell the coffee and I think they will wake up, is a matter of a bit more time now.
Morocco? Didn’t Simon say that we may hear something on this this year? Be nice to get an update irrespective of deal closure.
IMO, what we need is … I think we all know.
In that case you might think that some middle-sized company looking at the underlying strength of oil would just take them both over and liquidate all the overheads. Wressle and non-Wressle production alone would then probably pay for the deal at current low Mcaps, which would leave the other UK prospects, Resolution, Ireland and Morocco as freebies.
Can’t see how an EOG/EDR merger wouldn’t help them both now that Shale is a non-runner in UK. MA as CEO focusing on UK ops, SO/Brian on Board to look after Ireland and Morocco now that we are at farmout stage. Doubles the production revenue, cuts overheads and “balances” the portfolio nicely all round.
don't understand why some of these really small co's don't consolidate - particularly one's eog is actually working with. Would cut down all the overheads and might result in better quality of management
The problem is the BOD. I will repeat it again … is not the fundamentals that matter, is the peoples perception of the fundamentals that does and it is what drives the SP.
Zombie BOD needs to wake up.
Are there no prospective buyers of shares, is no one genuinely interested in this company or does no one actually know it exists??
It has huge assets next to a diminishing source where a huge investment has just been made.
I don’t understand our BOD.
Serif, I use twitter quite a bit. Right now, and for quite a few weeks now, there is nothing to say. Will look a bit odd trying to be positive on tweets when there is nothing out of the Company and the SP is in a drift down, slow bleed.
I also follow EOG on twitter… but there is hardly anything coming out of them. A tweet after an RNS and that’s about it. Nothing in between, such as for example tweeting that they crossed £1 mil revenue mark, or an update on one of the projects like lots of other companies do.
@Yanis, I agree that a bit more presence on likes of Twitter wouldn’t do us any harm. Just some simple retweeting of significant news on Ireland, Wressle and Morocco would be a start and wouldn’t take any effort (maybe SW could do it for SO if he is the wrong generation for this media!).We’ve been so low profile on these for so long that people don’t seem to know we have these assets when good news comes along, which is frustrating.
Yanis, at one point you also used to use twitter re EOG if I recall right?
One thing is certain, SO cannot promote the company, is not in his character. Nothing wrong in this, I could not do it it either. He needs to stand aside and let somebody in the PR role that is capable of doing it.
I know the importance of the Irish asset, is huge, I worked on Corrib in 2010/2011. I worked at the Bellanaboy Bridge Gas Terminal in Co Mayo. At the time Shell was not allowed to lay pipes above ground … drilled a tunnel from sea shore to the gas terminal at a cost of £70 or £90 mil, cannot remember the exact cost, it was big.
The infrastructure is there, if they link to the Corrib gas field next door then they are off to the terminal. Huge potential, but I still believe that for a developing company PR is important. Else interest fizzles out.
Yanis you are aware that the Inishkea prospect is drill ready. The site survey for a drilling location is sitting on Mr Ryan's desk and has been since 2019. No amount of PR is going to attract a farmin partner and subsequently a uplift in the share price until Mr R. Decides to come to his senses, which may be starting to happen with the statement regarding enrrgy security. For me one man is standing in the way to unlocking what we potentially have in the slyne basin.
Serif, “but still disappointing that EOG got no obvious benefit from Irish news” - the problem is lack of PR.
I said it before, is not the fundamentals that mater, is the peoples perception of the fundamentals that drives the SP.
We could get good news (on good fundamentals) and the SP could shoot up, but with zombie BOD not promoting the company, the SP will drift back down again. SO is a liability.
I haven’t been here as long as some of the other posters that I see, I am not loosing as much, but as soon as I recover my investment I am out, unless there is a fundamental change in management.
Soon yearly revenue from Wressle will match the MCap - inexcusable.
Actually 1 large buy and 1 small sell if you look at the prices - am not sure why the MMs bumped the Ask up to 1.40 on Thursday. There has been some better sized buys recently, but still been in the face of several large sells over recent weeks. Volume over several of the small oilers seems to have dropped recently, but still disappointing that EOG got no obvious benefit from Irish news when some others did. Irish decision still good news though - and I’ll wait for Ryan’s next move on how to supply these power stations to see if it turns into very good news!
A huge deal for Corrib this week and EOG managed two trades on Friday both sales, and people think Si's doing a fine job??
I have just done a rough calculation: EOG's share of profit from Wressle, based on an estimated average of production figures, is about half of its market capitalisation.
That is quite apart from the considerable exploration potential.
It seems that the bottom reached last year when oil price futures went negative - 0.75p - was the all time low.
The price now is just 0.4 pence off the all time low.
Unless there is something wrong with this company which has not yet been divulged, the shares are - regardless of all the doom - ridiculously cheap.
Looks like Si's just bought a few??
Not long now Si?? keep quiet and we’ll be a true penny share. Stick that on your CV.