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Fairdealer

GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the Serenity Discovery. EOG relinquished their share Sept 2024.

It looks like they spent about £6mm on the licence (I think) and didn't have the foresight to think it might have some value to someone else. Clever eh! That is our illustrious BOD, they really are top notch!

The only news is that the share price is stuck and instead of going up is going down. You can try to put a good spin on this share but the reality is that the BODs have not been able to turn this company around to make anyone want to buy shares

Well Bo isn't doing a very good job so far as the share price is going nowhere. Wrestle PP does nothing for share price growth. We need a farm out soon.

Are you seriously saying another 12 months. If the last.22 months is anything to go by, the share price will be .25p, that is a quarter of 1 penny!!.

The BOD need to get a farm out delivered before Oct when it comes up for relinquishment because the last thing we need is an extension which will cost more money. I they can't get a farm out then Bo needs to take control, get rid of WH and instigate a turnaround strategy.

The Wressle deal is putting enough cash into the company to pay salaries, consultants and bonuses, but not enough to drill a well or enter into a new jv. At current oil price and assuming $35 opex, one third of the pre-tax value goes to the royalty holder. Hopefully they structured the deal properly because if hmrc assess it as a royalty, eog will pay their tax. the big problem lies in if the oil price goes to 50, the royalty equates to 50% of the value. Why did they do this deal unless they are running out of cash. Not a great first deal for Bo. I for one expected better.

Great,put more money in that will help all of us LTSH. Don't just buy lots but the whole company, put id out of our misery. I am your biggest cheerleader

Premium bonds have a better return on investment than EOG.

Unsophisticated, I have news for you the current CEO has seen the share price decline by over 50%.

Our new ramper is trying his hardest but a lot of what he is saying is old news. Kosmos most recent well in EG is sub commercial, not about to spud. We need positive recent news from EOG to actually move this share price. That has been severely lacking and until that happens, all the ramping chat will fall mainly on cynical ears.

The BOD let the share price sink to .45p and I am not impressed by a rise to 0.6p. We will continue to have sellers until they announce something substantial. In the meantime, I would like an update from the company itself. Silence in this case is not golden.

WH became CEO on March 15 2023, the share price was 1.175 it has lost almost 60% since he took over. The BOD have stopped communicating to the share holders so I actually don't have any clue what the new Board members have contributed, they certainly don't seem to be helping the share price. I agree that BO is our only hope but he needs to begin to realize that there isn't a single happy share holder and a turnaround strategy needs to be implemented now.

If things continue as is, you wont need anyone to requisition a change because I believe everyone will vote all the BOD off at the next AGM. It doesn't look good to take enormous salaries when everyone is losing money. As for WH buying shares, he almost has to pretend he believes in the company, after all he is CEO. Hugh Mackay actually bought more shares than WH has but it didn't help the share price or him it is a way of using it as an excuse to keep their jobs.

The new BOD are doing a great job. They really know how to change the status quo and make a difference to the share price but it doesn't appear that they actually know that the share price should be going up not down.

Well it sounds like we are all on the same page

But when is it going to happen, last year has gone, 1st qtr this year has gone, 2nd qtr almost finished and Oct relinquishment looms ever closer. WH needs to get this over the line pronto.

BTW, I have reached out to EOG but have not had a response. That tells me something

Serif,

I do think the BODs read the BB. Two years ago we were able to oust two BODs through the BBs which galvanised the shareholders to revolt. Burying your head in the sand and hoping everything comes good is not good business and the way things are going doesn't instill me with confidence. The shareholders have a vote and they have a right to express their opinion on the BBs. I hope that it doesn't come to it but if things don't improve, I think the BBs have a role in highlighting the fact that things need to change at the next AGM, if not before.

Vernet,

You are the one who got into this share because.of Serenity, your comments, 'Serenity not a dud, the step out will come good'. Instead Serenity was absolutely a dud and you have been trying to justify your purchase ever sense with, Marathon, Kosmos etc farming into EG. Vermillion farming into Ireland, Heyco buying us out. Bla, bla, bla.

The reality is the company is burning cash that it cant afford, EG has not been farmed out nor has Ireland and the expiry of the licences gets closer and closer by the day. The BOD have given stock options at a lower price because the share price over the last year is down by over 50% and that was before oil price tanked. The salaries are way.out of proportion to company size. The BOD cannot convince major shareholders like Polus to stay because they have not articulated a plan that will see a rising share price.

I am not sure how my credibility is shot when although noone wants to hear it because we want to get out of this share with lower losses, I keep saying the reality and hope that the message is getting through that EOG needs to take a.serious look at how the comapny is run and not r ely on farmouts or onshore UK with all its.problems. It is a loss making company and yes I will continue to highlight what any CEO would do who cared about the shareholders.and.not their own bank balance and that is reduce management cost.

I think the first thing to do is reduce management costs, it will help the share price and is absolutely the most sensible thing to do

The £800,000 management cost doesn't even include consultant fees which are paid on a full time basis and believe me that will be hundreds of thousands a year

You know I was going to post, "Wait for the options announcement saying the awards are lower than last year's " but they beat me to it.

It really is shocking how the remuneration committee keeps awarding the CEO more for his poor performance. I guess running a loss making company really takes brains and needs to be rewarded!!!!

My take on this is that WH wants to keep his job and Bo is taking advantage of low price. Maybe Bo has finally woken up to the fact that he needs to do something, his shareholding makes him the most powerful man in the company and everyone will need to follow what he wants. The good news is that it is very hard for him to sell so he needs a rising share price and eventually exit the company with some profit. A profit for him is probably close to double digits.