Member Info for Aimshame

I calculated that there have been approximately 200mm shares traded since the AGM agreement. Of course not all of these are sells but it suggests that we have a short while to go to churn through another 200mm if they are going to be flipped. At this price, they are making a 40% increase in value in 2 weeks so not bad and I expect most of the placing shares to be sold as it is a guaranteed profit.

We will just need to wait and hopefully they will have filtered through before we announce the spud date and we should see a good premium to this share price

I think Heidelberg is just trying to keep the BOD accountable. EOG has pretty much had the same board for years with minor changes every 4 or so years. They have overseen a dismal share price record and long term share holders which Heidelberg is one, as I am, have lost a lot of money and are right!y annoyed. If you keep praising bad decisions, what will change?

We all see that, at last, they have finally made a decision to drill, the last one being around 10 years ago. I think both Heidelberg and I are happy to see this dtill which along with M&A is the only way we are going to see the increase in share price where we can hopefully break even on our investment.

Heidelberg has a right to criticise the BO D who have continued to take salaries while doing FA but they are finally doing something and let's hope they continue to understand doing nothing is the road to nowhere.

I suspect Heidelberg is happy to see.this change but worried it is not being followed through with good PR.

I really dont know why people haven't reacted to this news. The cancelled share options were based on the price of the shares at the time they were offered, 22.75, 20.62, 10, 9.7, 7.85p. Notice the direction of travel, downwards and now they are rewarding themselves with options at 2.25p It really is disgraceful, but they will get away with it because the share price is currently going up. I dont know how they hold their heads up, rewarding themselves for poor performance. Shame, shame, shame.

Well timed Tacuma. Glad to see you were able to make something out of the years of wait. I think EOG's luck might have started to change and hopefully we can all cash out at a significant increase to today's share price.

It looks promising

I agree that it is a good deal for all. I need to look further at the exploration potential but it looks like a decent appraisal well close to infrastructure. Chariot O&G drilled an appraisal well, not too far from the original discovery and their shareprice has risen 50% in last 6 months. Wressle is good and the Wressle/Broughton trend should be a cash cow but wont really be transformational. This well to be drilled this year, will be transformational. It would be great to see EOG say they are going to drill both the Serenity appraisal and another Wressle well, this would give investors real incentive to buy shares and stay for the future potential reward. I am happy we are drilling at least one well which should increase interest in the shares and shareprice will rise.

If you never drill wells, you wont see an increase in share value.

I think the more likely situation is that the Irish government did not approve the transfer because they are completely paralysed with regard to approving anything to do with energy. I think we should assume that Ireland will not give us any further share price improvement and concentrate on what we have in the bag.

We have a great asset with Wressle and have a great prospect with Broughton. I cant see that EOG without the Irish assets is any different to Egdon, so share price will rise. In fact, Egdon have royalties to pay and a potential liability to Union Jack if Wressle extends into acreage held with UJO. That makes every Wressle barrel produced worth more for EOG than Egdon.

EOG now looks cheap compared to Edr and UJO. Particularly when the price of oil is high and probably going to stay high for a while.

I am with Heidelberg that a BOD who can put shareholders first and come up with a plan to move the company to a point where most of us are at least able to break even is needed. I dont think the current BOD, which have a pretty dismal track record, have the inspiration required to do this. Don't know how David Bramhill does it but maybe we need UJO to take us over.

Let's not forget that both Edgon and UJO have outstanding NPI payments to Valhalla (10%) and Celtique (2.5%) so that makes Europa's 30% look even better

Tacuma, you should not feel guilty. The BOD should shoulder all the guilt. They have failed you, they have failed me and every other shareholder.

What is the point of these directors if they cannot get the share price up, the only thing I care about. In fact what is the point of the Company if all they can do is pay salaries and pensions while we see an ever decreasing share price. I can't understand BGF who have the ability to shake the board but do nothing after losing several million. We cant wait forever for this turnaround, something needs to change soon.

One thing for sure is that any thoughts or advice by mere shareholders will fall on deaf ears. Just like they (BOD) have been blind to the pathetic share price.

Historical data on Year, Revenue and Adjusted pretax profit. It speaks for itself and revenue includes fund raises!

2010 £3.0 £-1.7
2011 £3.8 £0.7
2012 £5.1 £1.2
2013 £4.5 £0.4
2014 £3.9 £0.7
2015 £2.2 £-0.8
2016 £1.3 £-1.6
2017 £1.6 £-0.5
2018 £1.6 £-2.6
2019 £1.7 £-0.7
2020 £1.2 £-5.4

mrbobbybee,

Quick scan to see how Europa have proven themselves over the last years when operational revenue was similar to predicted upcoming revenue increase:

Year Revenue £m Adjusted pretax profit £m

2011 3.8 0.7
2012 5.1 1.2
2013

Tacuma,

I am not a pessimist but a realist. The company has been poorly run for years and years. The increase in production will be just enough to pay salaries. Hugh took over£1mill in salary for his 8 years and dessimated shareholder value. We have heard for years and years they are evaluating new projects but nothing has been done. The company should first and foremost be dedicated to adding shareholder value. It is not a charity but has acted as a charity to the EOG Directors Charity fund and done nothing for shareholders. You can't make gold from fools gold.

What is Plan A, Breznef? Surely not another high risk exploration area which needs a major and will take years to see to fruition.

They need to think out of the tiny box they have made for themselves. We lth deserve more. We need a complete overhaul of the BOD.

SO has been acting CEO for 18months, share price has halved and from what I saw last night has very little to offer with new ideas. BO'C has added absolutely zip. WA appears to not have the backbone to get rid of poor management as he has the ability to but has watched his shareholding either under poor management for 10 years. For Simon to point out that EOG has been on the market for almost 20 years with nothing to show is frankly unbelievable.

Oh dear, oh dear. This company desperately needs new management. They have reinstated the full pay and frankly they should be paying us for having to listen to such a poor presentation. We need a coup!