Member Info for DreamOn

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.

https://ihsmarkit.com/research-analysis/irelands-offshore-basins-past-disappointments-success.html#.XdvDciRP4Tw.twitter

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.

Council have agreed to pay Egdons costs for the inquiry!

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!

Looking good so far from *************'s tweets

A Permit has been issued by the EA, authorising the near wellbore treatments and on
page 17 of the Decision Document in respect of the Environmental Permit (CDG2), the
Environment Agency states that “the proposed “proppant squeeze” is a small scale
hydraulic fracturing process which has historically taken place in conventional oilfields
in Lincolnshire, where oil is extracted from tight formations of sandstone reservoirs, or
where the geological formations are prone to damage during the drilling process,
resulting in impeded oil flows.”

Read the effin link I posted below for goodness sake. You could also read the inspectors decision from the last planning enquiry which clearly stated and acknowledged that what was proposed was NOT what is commonly referred to as fracking. Fracking is 'massive' this is not. You could also read, if you are bothered, the existing report from the environment agency that will be presented to the inquiry which approves the process being put forward by Egdon.

To put your mind at rest .. if they banned acidisation then there would be no more water bore holes drilled on the planet

https://consult.environment-agency.gov.uk/onshore-oil-and-gas/onshore-oil-and-gas-regulation-information-page/supporting_documents/Acidisation%20FAQs%20January%202018.pdf

I disagree - the update on Inishkea is particularly interesting because he needn't have mentioned it if it wasn't getting close. Pay particular attention to the words "when finalised". Looks very good to me.

You should have a look at this to see Government attitude towards the Planning INspectorate making decisions based on Climate Change https://www.bbc.co.uk/news/business-49960817

Drillor Drop will be reporting https://drillordrop.com/2019/10/09/second-wressle-inquiry-scheduled-for-six-days/ You can also view the comments from the public associated with the Inquiry via the link. You should note that ALL of them are to do with Climate Change.

Last night Ruth from DrillorDrop was most upset that the petrol driven bus brought in to replace the diesel electric train that had broken down on her way home was late.

and on the toilet floor .... sorry that's dribble not drivel

Anthony - the inspector can only make a final decision on the length of the Inquiry after the 15th which is the last date to submit witnesses and evidence duration. It will be less than 6 days if NE Linc confirm their decision

I asked the inspector if there would be reduction in the time the process took given the withdrawal by the council and they told me that it would proceed as normal. In a couple of weeks though they will update the timetable for the hearing and I suspect it will be shorter than 6 days (third party objectors have a limited amount of time allocated to them) As you say a positive decision will have an impact and open up another long awaited avenue of news flow. This being Aim though I suspect that once the hearing gets going a few more punters will jump on board hoping to sell into a positive decision in January which of course will mean that the SP will drop on good news .. very predictable and one that I usually trade on.

Tovoc - the planning inspector will be confirming the conditions approved by the council and Egdon. One of these is the complete replacement of the watertight membrane to ensure that if an operator at Wressle accidentally drops his can of 3to1 Oil and a couple of drops spill out he doesn't end up causing British Steel to close down (again). Point is that Egdon this week confirmed that once the decision is known it will take 6 months at least to get the site ready for production.

Nephin Energy is Ireland’s largest domestic producer of natural gas. We are a Dublin based company, led by a team of experienced Irish executives. We hold a 43.5% interest in the Corrib Gas Field, located 83 kilometres off the northwest coast of Ireland. The gas we produce from Corrib is used to power Ireland’s homes and businesses.

We are focused on growing in Ireland and Europe through the acquisition of material interests in assets across the energy spectrum.

As I may have mentioned before the conundrum for DCCAE is that Vermilion are required by law to do a subsea infrastructure survey on Corrib yet DCCAE are preventing them from doing so by delaying the consent process. Still I suppose Environment agencies are hardly infested with O&G enthusiasts ...