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I am a long term holder here and I have a target holding along with a target selling price. As the SP dropped I bought more that took me over my target holding so I have sold some now taking a 50% profit. I sold those shares to someone who believes that they too will make a significant return on their investment and who will likely hold on to them until they too meet their target selling price. The SP chart will not continue going straight up and it may reverse for a while but I am very happy with what I have got invested here and the long term prospects although I am still over invested and have more to sell until I revert to target holding. All is good here. No problems.
Very similar situation here as happened to Cluff. SP didn't take off until Farm Out officially announced but RNS this morning is as close you can get to saying the deal is done.
The International Energy Agency recommended in its 2019 country report on
Ireland’s Energy policies, that in relation to natural gas, Ireland should “Ensure a
stable and streamlined regulatory framework, and conduct regular licensing rounds,
to encourage exploration activities and, subsequently, develop domestic reserves.”
Rudey - Hugh said exactly the same. The decision will be on or before that date but having seen the civil service in action, with huge workloads caused by reduction in staff levels I am not holding my breath for an early decision and given that the max wait is 6 weeks it makes not a jot of difference to me personally
9 December
Dear Ms Skinner
Just wondering if you could confirm that the decision on this appeal will be published on Friday? The decision date has not been updated on your website but I understand the parties were informed that the decision would be delayed until after the General Election.
Kind regards
Thanks Anthony. So significant is this "Seems getting the site survey through has been a stumbling block with negotiations for farmout but by the sounds of things, everything seems to be resolved with this now and approval should be very soon"
Makes perfect sense to me and a very reasonable reason for delaying the farm in until it is approved. Could be very soon....
Interesting comment "all speculation is futile - he was fired" I assume you intended that to be a futile comment then?
Whatever the reason, and I do believe speculation is futile, you all seem to be missing a point I made earlier. There is now a vacancy at the top and it is about to be filled. Who fills it could be extremely significant for the company and the SP. There is at least one person I know of who could at least triple the SP on appointment and he is available. Just to be clear - I do not know who they have in mind but the right person, well known to the market and with a track record of success in our industry could give our investments a real lift. That is not an opportunity the company had before Hugh left.
When Tom Cross announced his attention to move lock stock and barrel into Parkmead it turned out to be a 25 bagger in a few weeks. Not saying this will happen here but EOG now have to appoint a new CEO and there is one particular individual who would certainly make the SP fly on appointment who is currently looking for a job although he is involved in an IPO at the moment. Would love to see him take EOG forward ...
EOG SP has been dragged down along with rest of the sector for several reasons I believe.
a) Probably most relevant is the move away from investing in Oil for obvious reasons
b) Our connection to the over hyped relatively recent UK Onshore Oil 'discoveries' particularly in the Weald
c) The political debate in Ireland which is not yet fully resolved
d) and for AIM Private Investors in particular the lack of forthcoming newsflow i.e. get rich tomorrow brigade that own a million shares in sub penny stocks
e) While BBs such as this don't have a massive impact on SPs there is no doubt that the tone on here and ADVFN will not do much to inspire new investors.
f) we really are at the moment a one trick pony and it all rests on Inishkea. I have absolute faith that that is about to come to fruition and I place great store in what Tom O'Brien recently said about the Irish Gas supply situation (Tom being CEO of Nephin Energy who has as a fellow director Brian O'Caithlin who happens to be one of ours)
We may only have one trick up our sleeves but it is an effing big trick and one that in my opinion is very likely to be played soon.
EOG are not being targeted by the DCCEA. The DCCEA are applying the new EU regulations to the letter and have employed a UK based consultancy firm to check applications about these. This consultancy firm is a major part of the delay in processing the applications but in addition to that there is ONE and just ONE pesty little environmentalist who responds to the consultations just at the last moment - and then the cycle starts all over again. Not only that but at each stage of the process the DCCAE are obliged to gather the comments from about 15 or so related agencies. This is a one off delay though as once all the current applications have been signed off it will surely be a case of cut and paste for future ones. EOG are second in line now for Inishkea site survey sign off behind, as I have mentioned before, Vermilion, whose annual maintenance survey, prescribed in law, is now overdue thanks to these delays. If you want to read some really good news try this https://t.co/3zdxSRZBxy?amp=1
INteresting question whether or not to raise funds by way of a placing or other means. In a few weeks Wressle will become a very saleable asset and WN also in due course once all the EWT tests and appraisals have been carried out. I suppose you have to take into consideration DB's personal position and a placing will certainly dilute his holding. Also consider the long term future of the company - the purpose if you will. Is it to be sold? Is it to remain a going concern for ever? Will it ever provide a dividend to investors ? Interesting conundrum but I would think with two saleable assets on the cards raising funds through a placing might be the least desirable for all concerned.
Within 6 days I think of the end of the inquiry the inspector must publish the date the decision will be published. The 'decision' has already been made and it will not be changed regardless of the outcome of the election. I would expect the decision to be published on the 13th December which as it happens is my birthday, Thanks for the present!