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That is a headline rate of 78% and if that applies for two qtrs, we are seriously hemorrhaging money.

Vernet, why don't you write to the company and ask them to address shareholders since you say they respond to you

It's on the government website for CT rates, it's not hard to find

Your CT is out of date, 19% I ly applies to less than 50000 profit

I think he could get it for less than 1p, shareholders are so fed up with the continual poor management performance

Clearly, there are massive falls across the board and as you rightly say everything is on hold and even more urgent for the BOD to do something about the losses

Are shares will be worthless unless they address the fundamentals, you can't run a loss making company in any conditions, particularly these markets

The oil price has cratered, OPEC is set to increase production, there might be a global recession and WH and co are taking cash out of a non profit making company. For shareholders sake the BOD need to earn their money and shake the magic money tree to where it no longer produces leaves of cash for the management

Any good businessman knows that you cant continue to run a loss making company without addressing the problem. It is fundemental to the continual existence of the company.

The EG licenses are not running away so I cant see that it can be an reason for lack of sound business practices.

The only reason I say that Bo might not care is that he has been invested for a long time and done nothing. As chairman and major shareholder he has the ability to get the costs down and if necessary look for a merger or sale. I think we have all lost so much money that it will be worth more for a tax write off then selling. We cannot continue to pay the enormous salaries and finance costs, it is a loss making company and the BODs need to address that. That actually should help the share price.

My calculations make dismal reading:

Hugh McKay- 85% down from Aug 2011 11.7p to 1.8p in Nov 2019

Simon Oddie- 35% down from 1.8p Nov 2019 to Mar 2023 1.15p

The only CEO which seemed to give shareholders some hope was Paul Barrett, where he had to weather the 2007 financial crisis and although the share price was down to 5p it went back to 38p.

I am with Phoenix, the BODs have been allowed to steal the company's cash and the large shareholders, particularly William Arlefelt and Bo have done nothing both of whom have and are holding board posistions. Serif says that he thinks Bo will do something because he has lost significant amounts on the company but so far he has done nothing, maybe he is so rich he doesn't care.

BO do something!!!

THIS SAYS IT ALL

What if I invested £1,000 in Europa Oil & Gas?

1 month ago 3 months ago 6 months ago 1 year ago

Europa Oil & Gas £800.00 -20.00% £648.65 -35.14% £648.65 -35.14% £600.00 -40.00%

Where are the BOD? What are the BOD's doing to stop the continual erosion of the share price??? Where is the cost cutting???? What is PLan B??????

Here is a message from the CEO of Rolls Royce which the BOD of EOG need to read:

Turning round Rolls-Royce: ‘If you don’t score quickly, you lose people’

I agree with Serif on EG licence extension, if you can't get it farmed out in a year it probably won't be farmed out in the following year. Remember offshore Morocco where they kept renewing the licence until it finally dawned on them that they had to relinquish it (another failed venture by Simon Oddie and company). Of course the world could change and something very unusual could happen to make the licence all of the sudden valuable but that is a very low chance and I would rather have shares in a company that had a statistically better chance of making money.

What worries me is that UK residents continue to protest against oil and gas and it takes forever to get anything done, I doubt that is good time value money being spent.

Forget the blurb and look at the fundamentals, they are currently loss making and have very little in the bank, I really hope they have a plan B because what happens if they don't get a farmout partner??? The farmout was suppose to be 1st Qtr now it is first half, will it be 3rd Qtr??. I hope they have a plan

EOG made a profit of only 250,000 in 5 months but their admin costs were 611,000 and finance costs were 193,000. They have had to use the cash in the bank just to keep going. That to me in unsustainable.

Getting finance for small oil and gas projects is extremely difficult and if they dont get this EG farmout concluded soon, they need a plan B. I hope they are working on one now.

Flombo,

I would be very wary of preemption rights. EOG have disallowed preemption rights in the past, once by a cashbox offer when Hugh Mackay was in charge, which was just morally contemptable. They are not above seeing things to continue status quo so they can continue drawing their outrageous salaries. There past treatment of shareholders puts them in the same boat as Maxwell.

You certainly got the fact that 0.5p is a slap in the face!!

Dai,

Why would you continue to support poor management?? Everyone is invested in shares to see an increasing share price NOT a decreasing one. If you continue to reward poor performance, i seriously doubt anything would change. I dont think anyone here wants to see the share price drop they want change to see the share price increase