Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Brewing nicely this one, if you are a charist then pretty much all the indicators are saying buy. We have been in the sell category for about 6 months up until the last few weeks. Couple the chart signals mixed with solid fundamentals and news due immently, on the AIM then it could be the perfect storm. Hope we get workover news with an increase in production and the Morocco news before FO, give us a higher starting point to multi bag from IMO
Yeh hope so, I have a feeling this week might be the week also. We have the interims in a few as well so if no farmout, Morocco news or work over news, we can at least expect an update then. Looking for another leg up before news lands, healthy retrace Friday, solid start tomorrow??
Come on Dunder, deals come to fruition through communications even with the big blue chips. Even recently Hugh mentioned that they are still actively communicating with the major in question. They haven’t just accepted terms last Nov and are sitting by the phone. Could also be a better offer from a super who are also just getting final sign off?? There will be communications between head office and regional on these deals, perhaps further negotiations before FID and Hugh will be involved in this. So maybe deal done but just requires a few final signatures, more formality
So Hugh is presenting at APPEX tomorrow. Presentation is all about marketing Kiely, not our flagship Inishkea or Edgeworth..... deal for them all sorted then Hugh?? Few weeks ago he was keeping his options open on all prospects despite having an offer and waiting FID
I agree Dunder, how is the generation of fed up long termers who have been trapped in this share, mostly around the placing price of 6p going to affect the share price potential in the future??? This is my big concern and I have emailed Hugh over this a few times, especially after the 3p placing and the fact that in all the years, sentiment hit all time rock bottom around that time. See having been here so long, although at 6p I would just be in profit, I am not in this for that, I want many multiples of that and I do honestly believe we have the assets to realise it. How it is played out by the BOD is key to all this, it could be the difference between 10p and 20p, not just on how good the news is, but how it is played. People can dispute this and try to add logic to where the sp may end up, but I repeat, this is AIM, it does what it likes and sense most times doesn’t factor. Look at the market cap of UKOG at its peak…..what was the fundamentals that under pinned that!!!
The fact that we got such big institutional buy in recently, and the fact the BOD own a lot, should help the situation but without doubt, 6p will see a lot of long termers saying goodbye for good. What I am really happy about right now, any why this dawn seems to be different, our following has gone from bottom of the pile, to the very top, literally. This is now one of the most talked about O&G stocks around right now and people love nothing more than a success story, another Cove! EOG has the potential for all that so although there will be a large flushing of long term holders and it will be choppy around the 6p mark, right news flow to continue the hype, we should get passed that mark and who knows where it will end up.
EOG usually have a NAV chart they put out each year and to be fair, it has not been worth the paper it was written on in the past in terms of reaching those targets. This has not been updated since June last year which says 80% chance exceeding 20p. I have been badgering Hugh for an updated version of this, especially since the placing to see how they (BOD) see this playing out. He keeps telling me it’s coming and they will issue but I gather the reason for the delay is because the new NAV chart will be based on the farm out deal and they would have to disclose the terms which underpinned their estimates. It will be interesting to see what they think this could do…..
That’s right, at one point EOG went as high as 42p on the sole basis that it may reach production 500 barrels a day………….never got passed 250!
That is what does make me laugh about the people who predict the potential sp or lack of, the berating of people who dare suggest grandeur. We are on the f#cking AIM market, all the so called experienced experts are as well placed to call it as my pet dog.
Fact is, right sentiment with solid news flow and anything can happen, that is the beauty, and downfall of AIM. Anyone who poo poo’s anything else is a novice with AIM. I have watched our peer EDR rise to high 30’s on the hype for shale, UKOG reach hundreds of millions worth of market cap, there are plenty of examples.
For any newbies, I have been here for a long time, many others have claimed the same but one of the only names I do recognise from that long ago is Tommy. Usually a very good source for relevant info, if you take advice or guidance from anyone, he would be my pick...... but always DYOR
and i do also realise that back then less shares in circulation etc etc
Really do feel for you, you will not be the only share holder that gave up hope and jumped in the last 6 months, especially since the placing! It will hurt now it is our time in the sun, still plenty of time to jump back in ready to the expected news flow
I do think that there is more to the whole data room situation though. At first it did concern me that this major who has made the farm out offer, allowed EOG to continue to market said licenses.
It was discussed on here at the time, if you are a major oil and gas company, and have agreed terms with a piddly minnow like EOG, would you seriously allow them to carry on marketing and selling the licenses you have just agreed terms with? I mean why would you as a senior executive of the NW division, put this deal to your board at head office, only to then go back and say sorry, we have been gazumped, just can’t see it.
It is likely the data room marketing has been with the major’s approval so that they have plenty of market interest to quickly farm down their interests once the deal is announced. Now this is pure speculation on my part, so DYOR, IMO blah blah blah
I do think there is a lot of workings happening behind the scenes. Don’t forget, one of our NED’s (Brian O’Cathain) was not that long ago appointed as a NED of the Nephin Energy (Canadian pension fund) who are the biggest stake holder in Corrib…….
Really is exciting times here and I must admit it is great to have the optimistic buzz back about the place.
Past is the past, but we definitely have a healthy list of what could be transformational news flow. In a proactive interview on the 29th Jan, Hugh said ‘we are on the final decent to touch down’ with regards to finalising the Morocco deal. He then said he hoped to close out and announce the detailS in the next 4 to 5 weeks…….. That was 4 weeks and 3 days ago, next Tuesday will be 5 weeks!
Now I know the old guard on here, like myself to be honest don’t care about new licenses but what we have to remember, new investors (and there is a hell of a lot of them) will care about this new license as news flow is news flow!
So to keep this momentum going, literally any day now we can look forward to Morocco license update, workover results (not costing a penny but could add many more barrels to the coffers), and hopefully then the big news, Irish farm outs and who this mystery major is.
Then things should really start to hot up, high impact drill program planned to start from next year and all the build up that comes with this. We can look forward to site survey confirmation (Applications are in and we have funds so could that could actually come any day, even before farmout news). It is also likely that the mystery major will want to share the risk and sell off part of their 70% stake……..be interesting to see what that is worth and can be used as a gauge for what a takeover cost would be for little old EOG
Https://www.independent.ie/business/irish/europa-atlantic-prospect-could-beat-corrib-37857525.html
Risked-NAV and price target raised 10%. All else being equal, the increased prospect size on Inishkea raises our risked-NAV by 4p, or 10%, to 45p/sh. To narrow the large valuation gap that exists, Europa needs to close its farm-out negotiations and secure funding for up to three wells across its high-impact portfolio