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Forgot to add that WH was Finance Director at the time, so I dont think he is completely blameless

Fully agree

Serif,

I heard that WH brought the Serenity deal to EOG. I am not sure if that is correct but that is what I heard.

1. Agree, I think they are looking for something transformative and landed on EG. WH and co says it is his connections but since it has 3D already, I am also skeptical that they have found a project ahead of the pact. I am sure the company that farmed it out would have wanted a big player instead of EOG if they could. It is probably a good project but it is high risk and years to a well, which would be transformative. Still let's pray they get someone to farm in this year. HIGH RISK

2. Ireland, yes good geology but you are looking for a farminee who has deep pockets and will take the political risks. The Canadian pension fund who are part owners of Corrib are definitely not going to do it. That leaves very few potential farminees. VERY HIGH RISK

3. My hand is up. I think Wressle is a good project but all it will ever do is pay salaries. The sad thing about EOGs UK onshore is that it has allowed the management to take large salaries without having to perform. Bramhill is clearly looking at moving away from the UK onshore due to the restrictive long process of doing anything. GOING NO WHERE FAST

4. Pauls' comments about vending into larger company are sensible. He is saying a merger creating a larger entity that can spread risks and undertake more projects in the nearer term should be looked at. Without a doubt larger companies better than smaller ones. They have access to better deals and more financial products. SENSIBLE

5. He is saying that with their salaries they would not entertain a merger. This has been Europa's problem for a very, very long time.

6. Can add one more. Serenity. The management including WH, put the company at jeopardy with this disastrous well. I am not sure if it really has life but I suspect it will be difficult and will they be able to fund it? A larger company would have been better able to withstand the blow from the poor result and precipitous fall in share price.

ROLL ON MERGER

Well the only good thing about the share price is Simon Oddie wont be able to steal anymore money from the company as his options expire end of first quarter.

Otherwise, for the salary the BOD are taking they really need to get this share price up this year.

I didnt think he said anything new. Let' see if he can land a fam out, otherwise he may go the same way as SO and co.

"Plenty of time", fills me with dread

I think Hydras is trying to point out that you need to consider the project as a whole. Afterall, any company who will farm in will consider all aspects in their spreadsheet when assessing the deal.

People can do there own research and see that the share price has been been on a downward trajectory for a very long time. However, the BOD keep raising their salaries. They are in control of the company, not me or you. They have control of the shareholder sentiment and whether shareholders are on their side. I will be more than happy to see a farm out and even more than happy to see a well drilled that is actually transformational but they need to deliver and soon because no one is happy with a penny share that isnt going anywhere.

There appears to be a very good negative correlation between BOD salaries and share price over the past several years. They really need to start showing that they are worth their exorbitant salaries, which means getting the share price up, not down!!!

But not a strong share price!!!!!

See the misunderstanding. the 8mm 9mm shares relates to dropping below 5%, not total shareholding. Not many people have 20mm shares and they just dont seem that committed to EOG in my opinion. If the BODs cant stop the selling than what good are they?

TR1 rules-(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100%

So according to the website, Polus have 5.79% and BGF have 5.91%. That is approximately 8mm or 9mm shares, respectively. That is a lot of shares to dump on the market and I would expect it is one or both of them as they have lost a lot of money (2/3rds). If it is them, the BODs need to convince them the share price is going up because if either want out, our share price is not going up.

The share price rise is very much welcomed. They need to jeep positive news coming to get over the hump where people sell into a rise. Fingers crossed for all share holders

Serif, I dont know absolutely that Africa is not going anywhere fast but to really get the share price moving requires a well and that is not going to be on a fast track, that is at least 18 months, at the minimum from now. That is why I said nowhere fast. They really need to do something in the meantime to get this share price moving.

How long will that take. Serenity, Ireland, Cloughton and Africa are going no where fast. Wrestle I'm afraid is already priced in the share price. The BOD need to pull a rabbit out of a hat now before the seller starts up again. Based on 235 days WH is being paid 1490 pounds a day to do something to stop the share price decline.

The problem is every time you get purchases at this low a price a 20% profit for them is still a very low price. It becomes a vicious cycle. It really is a mess of the BODs making.

I was told WH brought Serenity to the BODs. BOC has been Chairman for 5 years and proceeded over the share price destruction. They better hope there are 2 farmins, Ireland and EG this year which I find a completely unrealistic outcome. However, you can guarantee one thing, they will continue to say they are in the bottom quartile for pay.

The BODs are certainly earning their money by convincing all those large shareholders to stay with the Company.

Good one Itzar.

It sounds to me that 2p would be the sell point for most people, therefore sets a bit of a ceiling on price rise