Member Info for Aimshame

Leigh,

As you probably know, I have been saying that the BOD need to start thinking about the shareholders and share price for a very long time. When you have salaries that are no where near realistic to performance, all shareholders will eventually revolt. We are finally seeing the optimists turn to pessimists. That tells me that the BOD need to do something that completely resets the company. If they cant make it as an oil company sell the assets and change to a sector that can make money. Bo is supposed to be a fantastic entrepreneur, let him take the company in a new direction. It is better than death by a thousand sells.

If BP's Board can cut their CEOs salary by 30% , then surely it is time we did the same.

Trade sale for Cloughton; how much are you expecting to get?? I can't see it is worth much at all.

It probably won't be too difficult if they don't deliver a farm out this year, and that is given them 6 months longer than they said it would take. We didn't need a requisition to boot out 2 directors and I suspect BOC left because of the last vote. They need to understand that shareholders won't continue to be taken for a ride.

Maytheforce,

I can only assume that either you are a EOG employee or haven't been invested here for that long or you would know there have been many promises of delivery for shareholders and all we have seen is lower and lower share price and higher and higher pay rises.

I think EOG BOD knows they have limited time to deliver, we won't hold our nerve ,as you say, very long. They need to deliver an increasing share price.

One thing there can't be any dispute about is there is a lot of justified cynicism among EOG shareholders

I think the purchaser also has a say so and all they need do is look at the share price. If Bo and William want a better price they need to crack the whip and get the company's share price moving, something they have failed to do for years

I hate to say it but any take out offer would be cheap as the successive managements have destroyed the market cap. At .70 bid even a double in share price is pathetic. Although, I think WH will get something because I think he has share options below that price awarded by his best friends on the remuneration committee.

Where is the the transformational RNS that some had hoped would materialize or even a company update. A n RNS saying cutting BOD to 3 and halving salaries is not depending on anyone else just common sense from Bo, who effectively controls the company now. That may go someway to seeing a reduction in buy/sell price and get a few more people to buy some shares, particularly as the realisation that fossil fuels is here for the short term at least.

A farmout RNS would be even better but.......

Bo has actually been invested in EOG for a number of years and done nothing to hold anyone to account for the disastrous performance. All I am saying is that we need to see a him making a difference soon and not just let things ride as he has done in the past.

Problem is that any investor will want to make sure that the share price will rise 20% to just to cover the sell price. That is a heave ask for new investors. Bo really needs to grasp the nettle and do something early so people can see that it is a different company. The last thing we need is continue on same path waiting for something to happen in the future . We have played that game for too long

They now need to get rid of one of the recently appointed BOD. They certainly didnt need 5 on the board and in 3 is a much better number for the company size, 2 non-executives and one exec. Five BODs was too many and another one one BOCs wasting money ideas

The only connection BOC had was to his paycheck from Europa for 7 years.

One down and at least one to go. I am glad BOC has gone as he was instrumental in ruining this company. Bo needs to take control of the finances and the company and do something that makes a difference.

It is disproportionate, I hope they read these BB and realize that the shareholders feel a complete sense of unfairness and that will translate to voting them off. According to your figures we need another 12 times increase in market cap to justify WH salary, that is a long way in one year

5% all together

Then they have a year and even that is too long. We can call an EGM if they dont get something farmed out

When does that put the AGM, not sure they can go 18 months before calling an AGM

Vernet

£400,000 might buy 5% but William Arlefelt owns another 5% so you need a £1mm. We are effectively beholden to BO and William to either get this company moving or sit back and watch it wither. I appreciate shareholders talking it up but the reality is Brian O'Cain awarded SO a huge bonus after the disaster he set the company's path on, SO and the BOD at the time ruined the company and BOC was an integral part of that. He should go. The salaries are a direct result of BOC awarding SO excessive salaries. He only narrowly escaped getting the boot at the last AGM.

As for the current BOD, the only movement in the share price is down and they are being rewarded handsomely and completely disconnected from the market cap. They have a limited time to get a farm out and what is plan B if they dont???

A token buying of shares by WH doesnt do anything for me to restore my confidence, they need a serious strategic review and decrease in all salaries.

My sentiments exactly Serif, however, I would add sack the lot concentrate on farmout with one geotechnical person as consultant, decrease WH salary and if they cant get a farmout this first half look at a merger or sale.