Member Info for crushcutfluor2

The clock is still ticking here - 7 months left on the licence - do we have any visibility on Chinese and EG approval of the farmout, any progress with securing a rig (or even a well engineering consultant), anything at all to suggest this is moving ahead? Farmout agreement has been executed, but there are conditions precedent to completion including the two govt approvals and nothing can really happen in terms of long lead items, contracts, etc., until then. No wonder the share price is drifting back now. Will just did enough at the end of 2025 to secure a good bonus, no doubt, so the pressure personally is off him. But the clock ticks away.

I think that's probably true, Serif. If William was to bail, he would instruct a broker to sell relentlessly into the market. He probably just liberated a little cash to cover the Moet bill for Xmas. Why not

Well, I missed that Friday afternoon RNS. Looks like William is going to miss out on the monster rise when the rig contract is announced.

Not sure why Cloughton is getting so much attention. As a developments project it is fraught with difficulties, not least the reservoir's inability to produce gas at commercial rates. The fundamental problem with the Cleveland Basin is it has been deeply buried, the permeability destroyed, before being uplifted. Other Carboniferous sst reservoirs such as Saltfleetby work because they haven't had this inversion. Cloughton will not deliver. Let it go.

Ireland has festered for a decade with no solution in sight - and, critically, no farminee. Wressle drilling will really help cashflow, but FGS this has been in the pipeline for years and even if we drill another producer, it won't get any credit in the share price. Only EG will do the trick. That must be the 100% focus.

I am fairly sure the reason the market hasn’t valued the otherwise great farmout is that EOG hold 17% through a minority stake in a private company with a concert party of 2 holding the rest. That is not a good look. The shareholders agreement has to be watertight and it would make sense if they set this out in a slide on their next presentation. This probably wouldn’t bother retail investors, but to get the price moving up and have it stay there we need professional investors who might be put off by the structure. Vigo need to step up and get the story properly out there as a great investment opportunity.

We have been buying this morning, but no real response to the price from the RNS, which is strange. Must have the B Team manning the MM screens today

Rise and shine!

Price holding up, hopefully that means nobody will really be trading until the 5th. Anybody going to the AGM? The thing is, Will won't be able to say anything about the farmout unless it has been announced beforehand, so in reality it will probably be a damp squib apart from the voting.

.... yes, perhaps the Chinese government if it is CNOOC

This is the only Friday that the share price has fallen for a while. I think investors have turned a corner and are leaning towards more 'concerned' than 'anticipating'. This is a critical time for information if we want to stay on the 2p launch pad. Silence from the Company really means they are not controlling the narrative and surprised the PR guys at Vigo aren't pushing them - but then I am not a great believer in small caps paying good money for PR.

Let's hope so...

The wide range of views speculating over what and when it may happen is simply a result of the information vacuum. Will can hope for a year-end farmout conclusion, but it is not in his gift. Jan/Feb a perfectly reasonable view to take based on the information so far. But I am not sure the market will be that patient and we may see some softening of the price, which is why Will needs to say something very soon. If the other party still has exclusivity and decides not to farm-in, we will be in a fairly dark place if they have to start all over again.

We deserve an update on the farmout process. Almost 20 weeks since LOI announced.

10p would be fandabidozi!

Ps I have asked their Nomad if the Company is in possession of unreleased price sensitive information that may be leaking out. I would be surprised if the exchange haven't flagged it to them.

This is an extreme example of what's been happening for the last few weeks - price goes up on absence of a friday bad news rns (hopefully) and will drop on lack of a monday morning good news rns. But possibly a leak of good news to market makers via the PR or nomad. Let's hope so

Exactly, 'depends on the farmout deal'.

Absolutely, 5-10p possible on spud, but 20p before then is fanciful

Ffs, get real

They have to extend the WF licence despite it being loss-making as if they let it lapse it will catapult a large chunk of the £5mm deferred liability on decommissioning (Note 11 to the interims) into current and would bankrupt the company. Wressle saved us a few years ago, now it is the turn of EG hopefully.