Member Info for Copper3

Agree cost cutting needed, also Uk gov must not renew Energy windfall tax..it should be abolished now not 2030.

ny/2025/0030/env

i note that consultation with burniston parish council and others is to run to 30/4/25., so maybe get a planning decision early june ?

in my view , developing cloughton is dependent on finance coming from success of planning and drill at wressle. lng proposal for ireland, may put inniskea on hold, and uncertainty in world markets currently, put a delay in any decision on e.g. investment .

wressle

north linc council consulation period regarding 3rd march 2025 application for eia screening opinion, - with scope 3 cat 11 emissions report, are now concluded.

environmental protection comment is overall -- "this departments previous comments in relation to pa/scr/2023/4 remain unchanged and are copied below for information:

“i can confirm this department agrees with the applicants conclusion that the development does not require an environmental impact assessment, however the following comments are made to inform any future planning application that may be submitted.

they would require more detail on noise abatment during cosntruction drilling etc, and lighting abatment for nearby properties at lodge farm., if a new planning application is submitted.

there is also reference to a 5km proposed pipeline to british steel.; which i'd not heard of before., with env dept. concern about contamination etc. , but with future of the s****horpe furnaces looking like closure, then maybe no need to think about pipeline.

decision on e.i.a screening from north lincs should come soon enough.

anybody know more ?

Serif..WH comment just on Cloughton timetable only..my own thoughts on selling part of 30%....lets see how Wressle planning develops with EIA or not.

Before next AGM we should have news of Wressle planning.maybe early drill timetable.EOG having to give up part of their 30% to fund the drill..maybe a bit more to fund Cloughton next spring.WH tells me the existing funding for Cloughton is for seismic only this year.next spring for site construction and drill ..subject to funding.Maybe just maybe this tine next year we'll be happy with progress.Im not counting on Inniskea..maybe E.G.has more of a chance this year after Trump economics calms down..

Thanks Serif . Cloughton- you may be right, only more seismic in 2025, drill 2026. I find the RNS communications a bit oblique. It may include site construction in 2025 if seismic ok.? I have asked WH to clarify.

Seems a a bit back to front, on spending money and time , consultations, reports needed for the Planning application ( scheme = 7 weeks site construction. 7 weeks drill, 2 weeks propant , 15 weeks testing). Do they still need more seismic to justify the drill to partrners , or is it just clarify the direction of the drill. Surely do the seismic first . ?

I held hopeful at the end of end 24 with news of new Chairman and awaiting Irish governmnet energy review., with diminishing Corrib output.

Since new year it took ages for new governmnet to form , then news of LNG terminal under US pressure for Irish energy security for data centres etc. U.S. are still producing record gas with more going to export terminals as US demand itself shrinks. That's why Trump is pushing.

Positive is that Europe still needs gas, and price is better than low point last year both in U.S and Europe. Even talk of getting more Russian gas again if peace holds . That would be another blow to Ukraine, so maybe not. The other problem Ireland faces is mounting EU fines for not meeting Renewable targets. Im really not sure how it leaves EOG on E.G or Corrib... WH and directors must be wondering themselves. So from EOG point of view, pursuing Cloughton as the only project in their control makes sense to me. Though likley it will have to be settled at planning appeal in the summer. Last statement said they had funding for projects this year, but it would be useful to clarify if they have enough to complete drilling at Cloughton. Can anyone interpret the little us shareholders know, on that. Good luck all, and write to WH. I'll do that.

What are views on AGM resolutions

re-elect 4 directors..

Special resolutions..

Issue equity ( including overseas legal requirements..Antler ??)

I'd like to vote( through stockbroker) against most.

Aimshare.

On consolidated balance sheet. Investement in Antler shown as non current asset..investments note 13a £2.46 m

There are many long term liabilities to consider for wressle and other site clean ups etc. But point I was making is

that if you look at profit loss account taking out antler cost and serenity impairments then you do have considerable net cash flow from uk activities for at least another year.Im not sure how long ashover will produce.Adding that to £1.45 m cash in bank should ease any imediate fundraising to get wressle development going assuming they get over environment hurdles.

What might be a worry is the anount of money there is left in Antler kitty..so an early farm out required.

I can just see WH spouting on about advanced farm in talks but needing more time and funding in January 2025.(Just like good news stories on porcupine inniskea homlwood serenity etc)

Just hoping for positive news..

If not change of directors??

Trying to find the positives.If Revised Wressle CPR is to be believed there is still some oil left in ashover so can we expect at least £3.5 m again revenue next year.

Cost of sales for operating assets inludes uk sites eire and E.G. where europa spent £ 2.4 on acquisition. I can't see that cost accounted for elsewhere so must be part of cost of sales. There is a note there is still £0.7m of that as cash balance in Antler account.

So if that wasnt taken into accoubt Uk only profitability would be significantky higher. Perhaps less of a chance of any funding crisis for at least 12 months.

I also think put Cloughton on hold.

There is supposedly 1 to 1 voting on operations in EG with Antler...that gives some security but the whole deal seems very dubious and where have they spent £1.4m in.last year..is that on seismic reinterpretation or just their drinks bill, backhanders and hotels...

Perhaps WH will give update on wressle environmental report in December chat up...we should be slightly wiser..just a bit poorer.

Will 2025 be any better ?

I had a look at NsTa

Crosby Warren may 24 is just over 8bopd

Westfirsby is about 18.5

Whisby is not listed but BRIT NRGY Web page indicates 50 bopd from remaining well...that should be 32.5bopd net to Eog if share agreement still in place

Total 40.8 bopd to EOG .?

Plus Wressle

Drill site found HOT agreed.Progress at last .Would it be commercial with high tax rate.Same as Wressle I guess.

Thanks Serif, I dont know if they can get around that by use of a planning condition for a future ground survey if they decide to go ahead with pipeline after satisfactory test flow results. Either way there will be a delay, but maybe not so significant. I view it as positive that EOG are not directly involved. Seemed odd that EOG taking photos in front of 10 year old Claughton cores as though it was a significant event. Whoever is in Charge of EOG twitter please give us some sensible news. Ice cream on scarborough beach perhaps.

extension of the existing wellsite to construct 3 well cellars, drill 2 additional lateral underground boreholes to appraise and develop the hydrocarbon resources from the *****tone flags and ashover grit reservoirs, upgrade existing production facilities to include additional fluid storage tanks, separator system, surface pump and associated bunds, install gas processing equipment, construct a 600m underground gas pipeline and flow gas to the existing national grid pipeline and the long term production of oil and gas new document - hydrogeological and flood risk assessment march 2024

date valid 26 march 2024

consultation ends 21 may

? decision date- early june ?

I agree E.G and Inniskea still blue sky.Disappointed there is nothing to add on Cloughton which is supposed to he a (the only) project in EOG control..and EOG may have had the money to develop if their rhetoric was truthful..Only thing on horizon now is Wressle Pennistone and gas planning application..I don't hold for the blue sky . They just seem a waste of money at the moment but maybe luck will change later this year..next year ?? Who can get the BOD working for us.

I had a rely from EOG last week saying there was no news yet to share on Cloughton. A bit dissapointing.

The lack of news on Cloughton and Wressle etc is worrying.Sent Eog a request for an early update.Looks possibly like all will be put back yet another year. Hope we get news soon.If others can write into company we might get a proper update not just another wish list presentation.

Director jollys in E.G. at company expense..

Seen comment on UJO page about lifestyle company..same applies here..come on lets have some Wressle or Cloughton mews in next week or two..

I don't really understand this discussion on short selling..I cant see the links between buys and sells you suggest..What I do know is that not so many years ago ..was it just two years the share price was 3p plus for several weeks before serenity fundraising at a ridiculous discount.if I'd sold at the 3p level or shorted someone elses shareholding I could buy back in now happily.However I didn't sell at that time,so not so happy..Eog continue to promote themselves but there is nothing really tangible at the moment..so that's why people sell..what has happened to EDR planing applications for Wressle pennistone ? Smoke and mirrors continue.

I agree good news if change in Irish politics next year . depletion of corrib in EOG,'s favour.But they've still got to find a partner willing to spend $50 m on a drill with only 30 % geological chance. we know what happened at Serenity with 30%. Still better than expected ..and we should have news on Wressle and Cloughton soon...which I think will potentially be more important.

The options are a bit underhand favouring directors and staff against shareholders.Hoever they aren't going to exercise those options till share price stabilises at a high level.maybe 6p. Maybe 10p..

I'd support another coup attempt at a Special meeting if organised after mid March if we haven't had a positive update on operatorship of Cloughton and or other projects.

I still don't understand the E.G . deal .. why if such a great project the licence holders wanted to involve EOG.

Keep the faith guys. Remember Will Ahlefeldt will pick up cheap shares.