Member Info for crushcutfluor2

I'm not sure this board has any influence on the market, but it is a tool to send the EOG management a message they should do better in a number of areas. A prime example is clicking on the X feed button on EOG's homepage to get a notification that '@europaoilandgas hasn't posted yet'. I hope with all my heart this farmout completes and we start to see forward motion, but it's not much use if the market isn't primed and ready to press the 'buy' button.

The share price is exactly where it was 3 years ago. The key activity now for the Europa management is perhaps to get out there and start getting some traction in the market with a PR splurge. Make Vigo work for their fees. If the market is not watching when the ODI approval drops, we will be sorely disasappointed with the share price response - again!

Only, it is the Remuneration Committee that agree to the bonuses etc. You can't fault WH for pushing for more and more loot. He said previsouly he is not a rich man, but to paraphrase Kenneth Wolstenholme, 'he is now'! If they will gladly hand it to him, he would be a fool not to take it. Handing out big wads of shareholders cash when the farmout is hanging by a thread of a 30 days long stop date extension beggars belief. Poor corporate governance, but hey, that is AIM. The other thing is, WH cleansed himself with the RNS so he coud buy shares. In theory he now knows no more than we do. Think about that - the single largest company making/breaking event and he doesn't know what is happenening, he doesn't have a fixer on the ground working the corridors??

One thing is for sure, my NOMAD wouldn't have let me say that unless I convinced them that the approval was imminent.

A 30 days long stop extension is unusual - usually they would give 60 or 90 days as Fuhai know full well how long these things take. I sense they are getting fed up with this and want to bring it to a head. So we likely won't know where this is going by the AGM, but will definitiely know by 1 August.

Reflecting further on Will's c.£200k 2025 bonus, it is clear now why he wanted to get the farmout signed before 31 Dec (just) so he could bank the 2025 bonus, leaving a clear runway to bag a further bonus when the approvals come in and delay drilling to 2027 for another bonus round. It a great strategy for personal gain and the RemCo clearly can't see that. There is an argument for saying any amount of bonus is worth getting the well drilled. Maybe, but pay it when the well spud, not when the farmout agreement is still not even completed. The other element of rushing the farmout execution through for 31 Dec 2025 is the risk corners were cut. If we don't get Chinese approval by 29 June that will be a full 6 months and I would call on the Board to pause his salary (I can't imagine he doesn't have any cash reserves to fall back on), until this farmout completes. But it is never going to happen, the spineless board just keep paying him and we keep paying for it and waiting.

I am afraid that is not far from the truth. Total remuneration for the CEO of £675k (on an annual basis this is £475k per annum). £271k in bonuses. Share price seemingly irrelevant. The farmout is not yet over the line. Will he repay this if the farmout doesn't complete? Will he f.... This is drifting into grifting territory and professional thieving of shareholder funds. It is unacceptable and I will tell Bo as much.

Has anybody found the AGM materials on their website? I suspect without making them available they are now unable to have the meeting on the 29th as the 21 days does not include the day of the meeting or the day of the AGM notice. AGM notice has to include at least some level of detail as to what resolutions are proposed, esp. if Special Resolutions. So the RNS doesn't cut it. Maybe I am missing it, but can't see it in the circulars section.

This is clearly the last roll of the dice for WH and perhaps the Company. It is 31 years since incorporation, 22 years since float and to be honest what do we all have to show for it? Floated at 25p, now at 1.4p. LTH's deserve a medal.

True, which is splitting hairs, to be honest. However, the published timeline for most non sensitive investments in this province (ie not selling technology or weapons to the US) getting approval is 1-3 months, so if they had done all the paperwork and were waiting for EG to approve, this should be automatic and happen quickly. If we don't see it by the time WH leaves for his Grandes Vacance au Cap Ferrat, we are likely in trouble.

The approval in China should have been an automatic slam dunk for a company investing in west african gas. Perhaps the delay is Fuhai trying to find partners to co-fund the drill and reduce their risk.

Note to Will Holland - STOP BANGING YOUR HEAD AGAINST THE WALL WITH UK AND IRELAND. It will feel so much better when you do and it will save our money from being wasted and allow you and your team to concentrate on where we can actually get things done - EG.

Patience - even Job would have thrown in the towel on this one. Second well on Wressle - 4 years and counting, Drilling a well in EG - 3 and 1/2 years and counting, farming out Ireland - lost count (can't even remember the prospect name), Serenity - enough said, Morrocco - dead in the water, West Firsby geothermal - non starter, Cloughton - life support. Jees, what a litany of incompetence. And CEO isafter CEO pulling down top $ for this BS.

DG of Eassets at EG mines will be there. If he hasn't got something to tell us by the start of next week, then we need to worry. You are being way too generous!

Absolutely, Brezhnef. Turning it down will hopefully put this in the bottom drawer now. A useless and expensive distraction. I recall the meeting in Kingston for the Holmwood planning as we were across the aisle from the 'country club and range rover' home counties set literally bussed in from Coldharbour. The vote was lost on the Chairwonan's casting vote, so it was actually very close. Now it wouldn't be anywhere near that close. But Will must concentrate 100% on EG. He and his team should be camped out there and earning their sizeable crust on the ground.

Looks like AI is driving a lot of the narrative on this board. Paul Haywood now has another set of government approvals to secure in China and Georgia. Hopefully that doesn't divert his attention from getting the EG approvals over the line quickly. Aren't we owed some sort of update from WH now that Q1 has been and gone?

Tennyson note reads well, especially the 5p comment. However, I think there are quite a few holes in our knowledge coming out of Easter - how far along the track is the respective govt approval process, whether they have appointed a contract well operator, have any long lead items been secured, do they have a drilling contractor? We are now into Q2 and only 6 months left on the licence. Will et al continue to rake in the cash, the share price is moribund and we are left in the dark.

WILL HOLLAND, CAN WE HAVE AN UPDATE ON EG09 AS A MATTER OF THE UTMOST URGENCY. OTHERWISE, IT WILL NOT END WELL. THANK YOU FOR YOUR ATTENTION IN THIS MATTER!

The other thing is and I hate to point this out, but the Farmout agreement will have a long-stop date, so that if the CP's (which are principally govt approvals) are not satisfied of waived by that date, the farminee can pull out. Commonly 90 days, but we have to hope here that someone was smart enough to put in 180 days. This is why we need regular updates that things are moving along.

It certainly is heading in that direction. Will still raking it in whilst nothing is happening. End Q1 looms, but October when the licence expires (again) is going to come around pretty quickly as well if we rely on two governments that move at a snail's pace. 6 weeks since the placing and no news. Not good enough Messrs Haywood/Holland, not good enough at all.