Member Info for Aimshame

Do the BOD not get it. They need to get the share price up. I'm afraid, 1 p doesnt do it for me. There is an article in the FT today that says,

'It makes sense for chief executive pay to be linked to share price performance. They and the rest of the 0.1% (referring to executives that make direct decisions and outcomes for company) should be paid heavily in stock'.

That is what the remuneration committee should be doing. WH says he is not a wealthy man ( I am not sure what his benchmark is but by mine a 360,000+ salary is very wealthy). He should be spending at least 30%+ of his salary buying shares. Not to mention AS who bought a measly 7000 pounds w orth, a percentage of his sa lary that is pathetic. I havent seen any of the new non execs buy any shares and BOC hasnt dipped into his pocket recently.

If they had more of their salaries in shares, they may actually think about mergers and something to change the fortune of the long suffering shareholders. It is pretty easy to take a yearly salary at t hose levels without suffering. If the large shareholders actually cared about their investment they should be talkng to the BOD about the pathetic share price.

That matches perfectly my assessment as well Serif.

I am glad the share price is finally going up but let's not get carried away, it was 1.15 when WH took over as CEO so there is a long way to go for him to prove he is actually leading a company with an upward trajectory. He needs to get a significant farm out, after all his technical team are being paid lots of money so in theory they should be good.

Damofarl,

The frustration is simple. It is the share price. Nothing more, nothing less. It is not going up, it has gone down since WA joined and has flat lined for most of his tenure. The salaries are excessive by anyone's standard for the market cap. People have questioned the Cloughton project but it is the same technical team that farmed into Serenity. I believe EG is a project which may have potential but it is a long way off before a well is drilled. I really think that a merger is the only way forward. The bigger the company the more resilient and easy to excite investors. The assets won't go away but hopefully we will see a increase in share price.

Good try everyone to try to boost the share price but nothing is working. It is slowly dying and we are left with ashes while management fly high on overpaid salaries. It is truly a perfect negative correlation between salaries and share price. They must do something soon.

The share price is 0.875!!!!!!!!!!!!

Unlike your post, mine is an explanation from HL which i felt the people who asked for an EGM deserved.

You are very agressive, I think you need help to control your anger issues.

I am copying a letter I received from HL, regarding the requisition of an EGM. I think it shows what applying pressure can do. It also shows that Europa really put two fingers up their shareholders when they used the legal loophole. If the share price does not improve significantly by the next AGM, we as shareholders have the option now call an EGM and force a change. For me, that would mean a merger or sell but I am definitely not happy with the salaries being taken and the languishing share price.

I have reviewed this matter again and spoken at length with our Corporate Actions Team regarding this.

At the time of my first response on 23 January, I was correct in stating that HL is not able to contact a company on your behalf, but we have made a slight exception in regards to this matter. As I previously outlined, from our experience from such situations, Europa Oil &Gas should have accepted the evidence of your holding that we had provided you to date.

We understood that multiple HL clients were experiencing the same issue with arranging this meeting with the company. Our Corporate Actions Team therefore spoke with our Legal Department, asking if there was anything that HL could do for our clients in this situation. Our normal process would be that HL does not get involved in this nature of issue, however, given the difficulties multiple clients faced, our Legal Department investigated what could be done whilst remaining within our remit.

The letter of requisition was written by our Legal Department and provides legal reasoning why the company should accept your request to host a meeting, but outlines that the request is on your behalf rather than HL requesting the meeting itself. At the time I issued my response to you, this had not yet been arranged, but HL has since made an exception by writing this letter which was completed on 9 May 2024, due to the issues you and other holders of this position have faced. I appreciate that the information included in my response does seem to be outdated, but I want to assure you that at the time of writing, I had been assured that this was something HL could not do.

Although HL will still not be able to contact the company to request a meeting ourselves, by having our Legal Department write this document, we are hopeful that this does pressure the company to obey the shareholder request. Whilst this is not something HL would usually do, I do hope that by us having written this letter, it does show that we have taken this matter seriously.

I have attached the letter of requisition to this message. If the meeting has not yet been called, you are able to complete the highlighted sections and return this to us. We will then have the letter signed by a registered signatory at HL before forwarding this tothe company on your behalf.

I am obliged at this stage to remind you of your right to refer your complaint to the Financial Ombudsman Service, details of which were provided in our email of 23

I am afraid you have heard it 100s of times before because it is true.

I think the posts today show frustration all around. The BOD really need to understand that people wont support £360,000+ salaries/benefits if the share price doesn't start to show a significant improvement.

I am writing further to your recent complaint regarding a request made to HL to arrange a shareholder meeting with Europa Oil & Gas Holdings. As you feel that HL should be doing more to assist you in arranging this meeting, your concerns have been treated as a formal complaint.

We want to provide, and as our clients rightfully expect, the very highest standards of service and I’m sorry we’ve fallen short of your expectations in this instance.

I appreciate that a letter has been sent by a Team Leader on our Helpdesk, with fear of repeating information you are already aware of, I will provide the reasons why HL is unable to get involved in such a matter.

As you may be aware, HL offers what is known as an execution only service. This means that whilst we provide you with the platform to purchase investments and hold these in nominee form, we are unable to apply any pressure to a company to host a meeting, even if this

request is on your behalf.

Holding an investment in nominee form as is the case with each security you own with HL means that the company register will displayHargreaves Lansdown Asset Management on their records. The shares held will be the total amount

of that stock which all HL clients hold

in that position. We therefore keep our own records showing the amount of shares each client owns with us.

Whilst HL effectively holds the stock in trust for you, we can issue documentation, signed by a relevant signatory at HL which evidences your ownership. As this is an industry standard practice, companies should accept this documentation as sufficient evidence to prove your investment in the company. Whilst I am unsure why Europa Oil & Gas Holdings are unwilling to accept this; HL has provided the same documentation to other clients with different holdings which hasn’t previously posed any issue.

Whilst we would like to be able to assist you further in this matter, HL is limited as to how involved we can get in such a situation. Any letter written by us would effectively be on behalf of every HL client who owns this position, and it is not within our remit to contact the company on your behalf. As our service is purely execution only, we are happy to provide you with the assistance in how to complete an action such as arrange a meeting independently, however, we are not able to contact a company to arrange this on your behalf.

I appreciate how frustrating this must be, especially when the company has requested you to have HL contact them directly. It is disappointing for me to see the time you have spent on this matter; however, HL has provided you with the correct documentation which displays your ownership, and this should be sufficient for you to vote in favour of/ call a meeting with the company.

Whilst we wouldn’t be able to provide any further guidance on this matter, from the internal discussions I have had on this matter, it does

seem that the company in question should be able to accept the documents provided to date. As per our previous letter, if Europa Oil &

Gas can provide you with a template, they would like us to sign, we would be happy to do so. It must be clear on this template that it is not

HL calling for the meeting on behalf of all shareholders with HL but is providing you the authority to act on your own holding in the

company.

However, if you are not satisfied with the outcome of your complaint and do not think that contacting me will help, you have the right to

refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this email.

If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able

to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional

circumstances. The following link gives you further information.

http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm Full details about the Financial Ombudsman Service are

available at www.financialombudsman.org.uk

Yours sincerely

Max Foster

Client Services Manager

Hargreaves Lansdown

I don't think you will ever believe anyone but yourself. If I could upload the letter, I would gladly do so and maybe you would actually acknowledge that you could be wrong but I doubt that would happen.

I am going to you also do not read the post properly. Paul did have all the correct paperwork but HL would not send a requisitioning letter in their name as the owners of the shares, which is what was and is required. If you had read my post properly, you would have seen that I have a letter from HL stating why they would not send the letter. Please don't peddle untruths

Tony,

HL has clearly changed their stance on this as I asked the same question when the shareholders were looking at requisitioning a meeting and was sent an email saying they would not do it, I even sent it to my MP. We definitely had enough support last time with over 5% but couldnt get HL to send the letter to EOG. I dont think Paul was looking to run the company but was looking at giving some return to share holders and reducing costs, all of which seemed very sensible to me and hence why I supported him. I have said this before but if the share price does not improve by this Autumn, I dont think they will continue to have shareholder support so it is very good to hear HL willing to send the letter.

Okay my mistake that he was CEO but he was on the BOD. The bottom line is they are not getting the share price up, it is going down and they really need to pull a rabbit out of the hat because people are getting even more frustrated.

Well I don't think he knows what he is talking about because the gas basin is the only area that hasn't been announced, so the block must have been in the gas basin.

Well that was a waste of money and time. I am sure consultants were being paid like Jamie White at ££. The application would have been made in Jan last year so WH was in place as CEO. They certainly are deploying Europa's money in other projects, it is called project 'Let's make Management Rich'.

As much as no one who is invested here wants to hear negative posts, the share price speaks for itself. It is entrenched at sub 1p and I really believe the only way up is a farmout or merger. I have serious doubts Ireland will ever get farmed out so that really leaves EG. EG seems a relatively sensible place but there are several small companies in EG who will need to farm out, all vying for the few large players who can afford exploration risk. The sensible thing would be to merge several EG assets together to make a large portfolio.

IMO, I think if the BOD can't show an increase in share price by late Autumn, then the company needs to look for a company to merge with and that may mean kissing their nice, fat salaries goodbye for the sake of the shareholders.

I think patience has already run out, they need to get a move on with getting this share price up