Member Info for ADNATROB

MM's slowly moving the bid up, just need news on Wressle and I expect this to pop.

Sorry, wrong board

Burning through the cash, I wouldn't be surprised to see a cash raise before year end.

Exactly, wtfdyk

Sorry wrong again, having trouble posting the right link.

It appears Woodside are to be given an exploration licence for FEL 5/13
https://m.independent.ie/business/irish/australian-oil-giant-to-get-drilling-permit-38957822.html

Sorry wrong link
https://www.irishexaminer.com/breakingnews/views/columnists/doublethink-on-the-environment-is-putting-our-energy-supply-at-risk-935841.html

Excellent news, Irish exploration lives on!

https://uk.advfn.com/cmn/fbb/thread.php3?id=7665175

At last we have a businessman in charge, not a geologist. The political landscape has seen a seismic shift over the last two years, mainly brought about by the rise of the environmentalists. It wouldn’t surprise me if the Cairn decision is based on political uncertainty rather than geological.
Beginning to warm to Simon, wouldn’t surprise me if he also forced the major to get off the pot. In business your often successful for the things you don’t do as the things you do.
Keep it up Simon, tempted now to buy more.

One of the requirements of the job is knowing how COS is calculated....

Not sure Dunderhead is familiar with how COS is calculated as 1 in 3 is actually quite good.

Nothing of worry here. My interpretation is: working capital already covered by current production, therefore Wressle revenue is pure profit.

Four things this year I'm looking forward to hearing, which should each boost the SP:
1. Appointment of new CEO
2. Inishkea farm out
3. Sell off 10% of Wressle to put cash in the bank and cover Wressle field development costs.
4. 10p+ SP

Expecting at last that 2020 will be a good year for EOG shareholders.

On the plus side, we have another short term event to look forward to. Appoint a new CEO, market likes him, share price goes up.

To finalise negotiations on Inishkea before year end possibly.

Costs for first phase of Morocco covered in the last fundraise according to the CEO in his latest interview, so no worries there.

My summary of recent CEO interview

Financial perspective healthy
- £1.7M sales, £2.9M cash
- Wressle to increase sales to c. £4M
- Wressle all profit, current sales cover operating costs.
- Wressle capable of producing more than the 500 bopd stated, constrained only by surface equipment.

- Inishkea, renewed interest following recently stated Irish Gov position that gas will be part of energy transition
- The major plus another showing genuine interest in farmout (competitive tension)
- Drill ready

Morocco
- First phase costs covered
- Early interest in farmout

CEO expectation is double digit SP on granting of Wressle planning permission and Inishkea farmout

VHB ever heard the phrase "don't poke the bear", if not, look it up

We are where we are Tacuma, nevertheless, with Wressle and Inishkea farmout on the near horizon, the current SP represents excellent value for new investors and for new money from LTH's like you and I.

Primary focus is Wressle and Inishkea farmout, each will add substantial value to the SP.
At c. £8M market cap, EOG amongst it's partners, represents the best entry point to Wressle and a potential multi-bag from current SP.

In addition to the Ashover Grit, substantial resources were confirmed in the P e n istone Flags - gross 2C Resources of 1.53 million stb of oil and 2.0 billion standard cubic feet (‘Bscf’) of gas

Previously EOG reported; Plans to produce from the *****tone Flags to be progressed following commencement of production from Ashover Grit - to include monetisation of gas resource by pipeline export or electricity generation and export

Wressle interest over the coming weeks will get this moving. Lowest market cap amongst partners and 30% interest. Plus farm in news could drop any day.