Member Info for Copper3

CPR dated 30th June 2023, makes me wonder why the long delay and if they have been working on figures recently why is report not dated 30 December. Seems a bit odd to me

Ashover doubling is as expected, but no real increase in pennistone reserves so thats a bit dissapointing, despite revised look at seismic .

No mention of Cloughton in recent video- hopefully some mention of drill site progress in forthcoming question time.

Bit too early to say if West Africa is yet another mad scheme, but they do need to get a move on preparing a farm out. The world is starting ( slowly) to move on to non fossil energy, and so if there is gas it needs to be discovered soon.

Good luck to us all this year.

I find it confusing making sense of mmscf to therms for wholesale prices, so its likely I have got this wrong

6 mmscfgas per day possible ?

conversion to therms x 0.01028 = 61,680 therms per day

wholesale gas around £0.90 per therm

gross income to EOG at 40% = around £8.0m p.a.

Please advise if anyone has the same figures, It does seem high to me

Of course EOG has got to find a drill site first which likely will be non-optimum, cost of drilling, geological risk not sure about. Just food for thought. Await next update January. Does seem more likley though than Serenity or Inniskea

I think the proposed three wells are firstly pennistone then a second ashover production and third a waste water well

It may be clearer when the planing application goes in sometime when EDR can get around to that..dream on.

If the CPR justifies that...when we finally get it...

There were some glimmers of hope on Claughton in the W.H presentation..anf looks like wressle pennistone will be q3 at earliest.so happy to hold for a while.If P.B can arrange a vote I would support that only if it aims to lower directors costs , restrict number of directors.and seriously looks again at the west africa question which without more information has a very very dubious feel to it.

Thanks for the reminder Itsawrapp..we could do with that further announcement just to calm the nerves that at least one project is going well.

The photos on UJO twitter today show"some of the latest equipment installed to restore production"

I'm unsure whether that meanes production has restarted or not. A lot pipes valves and green storage tanks. Are those tanks for waste water.?

Come on EDR , give us a better update when we are getting the revised CPR .and production.

Hi, As mentioned earlier, most retail investors hold shares in nominee accounts and are not shareholders /members of the company and cannot vote directlly. You have to ask your stockbroker to vote on your behalf as THEY are the shareholder( on your behalf)

Look at Share Soc information on this .

Agree Serif information flow remains poor. The community forum leaflet for Wressle is at least a first step by Edr but as they point out they need the independent studies on ecology lightning noise etc before submitting a planning application

A 50 m wide extension of the site is a significant increase.Good point is emphasis on gas planned into local network..that may make planning approval easier as gas considered a transition fuel..I'm guessing it will be late February before a planning application. A year later than hoped for but better late than never.

Just read informative article published by SharecSoc.worth reading.Yes unfortunately all shareholders using nominee accounts( barclays for me) are not members/ shareholders of the company and cannot vote directly or attend meetings to vote.Stockbroker can vote for you in my case Barclays said they would vote against Resolution 3-6..on my behalf...

There is something called a Crest account which has voting rights.may be worthwhile looking into that..are the ex directors going to do that.??

Wressle pennistone still looks far off as EGR have to get application for planing for an expanded well site..surely bad project management by EGR..maybe another 6 months minimum before a drill.

Ok I think it may be worth counting up who's interested.

My own holding(foolishly) is 4.39 m which if my maths is correct is 0.45% of capital value...

Then we'd. have to agree a motion.

My own thoughts were to censure W.H. but happy to see other views.

We all want the company to do well in what is becoming a tight market in next decade or do for oil with gas a bit longer in transition period.I would really like Cloughton to succeed but we need better updates on feasibility..and as discussed no drain from directors.

Thanks Gerry1939

I guess most of us here hold shares through nominal accounts such as H.L .or Barclay "smart"investor etc..so may be difficult to assess how many share we can count up if people are interested in an EGM request .Any thoughts .

I am holding for wressle update and cpr. hopefully positive..even if nearly a year overdue.

For an extraordinary general meeting need 10% of shareholders to vote for.

I don't know if that would ever be feasible.But would like to put pressure on W.H with no confidence vote removal

as CEO following his assertion for more directors in current circumstances. I think only realistic hope for share uplift in medium term is getting pennistone drilled but still no planning application.oh dear

Thanks brightfuture for attending meeting.I voted against 3 directors ..so what is vote for no.3

for W.H .to say he'll appoint two new ones for those that stepped down(in anticipation of the push) deems a F.Yu to shareholders.

Is there any chance of shareholders requesting EGM to settle number of directors.In meantime can they be honest on any progress on Claughton applications...landowner planning etc

Just sick of the half truths.

Vote cast against the three directors reappointment I'm told by Barclays stockbroker that this is the last day they can do the proxy vote. So anyone else out there with Barclays get on the phone...hope there is a message for more openness clarity realistic timeframes and some speedier action on claughton pennistone etc. plus a review of salaries...well we can live in hope for better times in the next year..may be out last hope ...

Agree..geothermal did seem unlikely ..not a hot rock area.

No progress on Wressle CPR , pennistone etc.

Also I don't understand why they left it to almost end of Inniskea licence to do the reprocessing work which is done by external consultants in any case

So what do directors and eog staff actually do?

Send strong message to the board required at AGM.

If Will and pals could I just be more honest and open on issues such as wressle jet pump and when CPR will be published...when planning applications will go forward with pennistone ..will that be drilled from the existing pad. . and Claughton..What's happening to new Seismic for Claughton.

Why did it take to near end of the Inniskea licence to do revised seismic ?That itself seemed farcical...and what of current political talks to extend the licence.

I don't have much faith in Serenity...that was sold by the board as having a safe back up plan if a new drill turned out to be a dud but now it appears no clear understanding had been made by I3 and Eog with Repsol Sinopec for Tain field plan. So raising more capital at a ridiculous knock down share price issue that really hurt existing shareholders by dilution was not a nice thing to happen without that back up plan with Repsol being valid

Now it turns out not to have been the case .That is not clearly acting in shareholders interest .

I agree there is too much payout for directors and lack of care by them and lack of telling the truth and getting a move on.. So when is next AGM vote ?

Agreee brightfuture Holwood was a farce and wressle has become so slow.I think couple months ago they said shut down and pump would be three weeks Looks like they are finally there but no comment on the delays..CPR was promised months ago..still no comment when that will happen...Plans for pennistone always on hold...Do we need to replace current board.

Really hope Heyco can get wressle moving.supposedly tEDR were waiting for CPR before planning application.not sure why that would be as they have said will use Wressle 1 platform for drilling pennistone.delay after delay.

Best to forget about for yet another month for any sensible news

All that blue sky inniskea talk is at moment just blue sky and at only 33% geological chance....so can we just get some positive news on next RNS.

If Will thinks wressle can do another 500 k barrels that's good but why still no indication of results of new pump and where is the CPR.so many unanswered questions.

If Tain licence lapsed its likely because it was deemed uneconomic.

Anyhow still hold for a very long delayed wressle update.

Our CEO will present the EOG investment proposition at the @Proactive_UK

One2One Investor Forum in London on Thursday, 7 September 2023.

Surely we will hear positive Wressle CPR news before this, and a clear plan of action. !!!

You never know with EOG.