Member Info for Flombo10

Looking at the late trades , it’s unlikely they are retail trades . It looks coordinated with a big buyer(s)

Https://www.gov.uk/government/news/public-consultation-opens-on-yorkshire-oil-and-gas-site

With this involving a major energy company , it’s extremely likely a deal will be done .

It’s quite possible they were told that , so they made their decisions.

Bgf main shareholders are British and Irish banks , even the Irish strategy investment fund , so pumping gas in EG might upset their sensibilities.

What do you think is at play here ?

Vern,

They have been investors since about 2018. Looking at their website , they focus on equity investments in the UK and Ireland and up to last year , EOG has been predominant in the U.K. and Ireland.

I suppose the fact that the HOT agreement has been signed ,meant they to face up to the reality and make a decision.

Also they have over £4b invested, so their eog investment is about .01% of total investment.

And the market gobbled them up.. great changed days for long term eog investors. Upwards and onwards .

Backed by a major …

And they were from Tuesday evening -2% of the stock . EOG now gives good exposure to funds to EG energy market ,backed a major to a field with a 80% probability of success. Should hit 1.5p + within the next few weeks

They are buying not selling . If they were not buying , it would raise bigger questions.

Things moving along here nicely for a chance but how this is only 4% up is a mystery .

“they have already said as much today.”- please enlighten us

This should reach its previous high of 1.2p in the next few days as news spreads . Would expect some large institutional buys to buy exposure to EG energy sector.

Could also unlock inishkea negotiations as a successful EG farm-out would strengthen EoG negotiation position , so why not negotiate now before that happens ,a possible bidder might figure!

Itsawrap, check last years AGM resolutions re raising cash especially in relation to Pre-emptive rights . It seems that some of that $500,000 was used for legals etc.

With the remainder, we should be fine for cash for this year. Here hoping for a good deal by October . It’s great to see it’s with a major , will take longer but worth it .

A lovely start to the bank holiday .

Who would you say are the other qualifying claimants? The only one that comes to mind that might legally qualify is Lorsden (Jersey) Limited , the vehicle LG used to steal Barryroe . And the only other live license in play , that might in future create a claim is PRD in Corrib south. Can’t think of anybody else who could be a claimant ??

Unless of course the phrase is been used to describe “ lansdowne and the funders “.

Unfortunately , were we lucky to get 10p per share ,you would need to deduct corresponding amount in legal expenses and then probably 60% to legal funders. And need to wait 5-10 years

Still if they were reputable firm of funders , it does add value to the share .

What was interesting as previously noted was

“Lansdowne has joined with other qualifying investors to progress the claim”

Who are they?

Has legal advice qualified vevan via a reverse takeover.

Have PRD been told they won’t have the corrib south licence updated?

Anyway,soon investors will have to make up their mind if they want to call and stay in the pot or fold.

We have a licence . That excuse of political impediment is gone . The board and others have hid behind that excuse for too long now .

We could reach new share price low this week . Market update required.

From RNS Jan 31st 2025:

EG‑08 farm‑out process They confirmed significant interest in the EG‑08 licence and said they expected firm farm-out offers for a drill‑carry in H1 2025, backed by resources data already funded via parent Antler .

Can we have an update . I think shareholders should have at least the same knowledge of affairs at eog as the subscribers of AfricaIntelligence.com

Thanks for sharing the email ,Captain Kirk .

But i can’t ant believe they issued such information via email to single investor .

If not privileged information , it is certainly unprofessional behaviour. It’s poor corporate governance to quietly reveal meaningful delays in private. Also, surly it is share price sensitive data.

And its raises serious questions .

Obviously no farm out on EG-08 for at least 6 months now

1. The H1 farm-out target has officially slipped? Why not update the market via RNS saying HI target not met , but now working on H2 and this means !!!!

2. Are there risks to the EG-08 licence being lost?

3. What are the costs involved

What about Ireland .Are they in talks to extend that as well or should I just email them .

The new share register is very disappointing and worrying for us but especially worrying for the board. All the major holders have decreased their stake cumulatively by about 2% , apart from Bo. With the slack been taken up by private retail investors.

So the major guys have lost confidence in WH and Bo and I think the same can be said for most private investors.

Deadline for farm outs was pushed out to end of H1. Did we hear anything from EOG. Not a bean. Even Griffiths of PRD, who is renowned for ignoring shareholders felt he had to issue one at end of HI.

The idea of radio silence meaning something is brewing is highly unlikely with share price behaviour suggests otherwise.

We do need some communication from the board now to steady the ship because you have lost the support off everyone, big and small investors alike.