Member Info for Flombo10

You are right Vernetles, my mistake

Updated share register now up. Basically drift from large investors to retail ( worrying )except for Polus capital management who have increased their stake .

Difference from previous

Bgf was 5.9% now 5.49

C Ahlefeldt 5.67 now 5.36

Bo the same

Polus: was 4.45 and now 4.97%

C Stanley was 3.70 now below 3%

Serif , good logic as usual but maybe the unnamed Canadians are part of the overall amalgamation . I don’t think WH and Bo are singing from the same hymn sheet

Vernetles, a 50-75 % premium on current share price I would see as ridiculous. But at this moment and time , I would be happy with 1.5-2p

A lot of big sells and buys today . I still expect a takeover here in the next month or two but probably at a ridiculous price

I agree , Vernetles, there has been shenanigans going on here with the shares for a long time. Particularly when WA announced his sale of shares months after the actual transaction and WH bought shares on the same day to calm the market.

By keeping share price down and getting timing right ( we are running out of cash , renewals of licences approaching) they could make a cheeky bid of 1p and succeed . Maybe the unnamed Canadian investor providing the financing.

Wressle , with its redevelopment potential alone makes it worthwhile . They could even sell of the licences for €2-5 million , save 1/2m on aim listing expenses and same or even more on getting rid of most of the staff . That’s a lot of the initial investment back .

But they would still need support of 75% of shares to push this true , so it would need to be a decent offer

Yes, possibly but it was a interdepartment email that was leaked. Hopefully some of the more able TD’s will raise and question this .

i.e soon we will be relying on the U.K. for nearly all our natural gas when there could be farage led U.K. government and this minister can’t be bothered to meet with a company who could possibly solve that problem.

Also interesting was the part of the letter which stated

“could almost eliminate the need for gas imports from the UK during a three-year period between 2030 and 2032”.

which is a strange timeline

Yes,Serif, that ls the big question.

Who leaked the interdepartmental email ? Can not see any benefit for a staff member doing it , unless trying to stop the lng terminal. Remember the dept got the revised update on energy security policy last Friday which prices lng terminal at €900m with its fracked gas.

Or did one of the minister’s aides leak it , to give him some cover from inevitable environmentalists attacks were drilling in inishkea to actually take place .

But why not let WH meet the minister , it’s not as if they don’t already have the licence ? We certainly do now need an update from the company esp about the May 22nd meeting.

Part 2

The email said the Geoscience Regulation Office (GSRO) was meeting with Europa “to discuss progress on their exploration license” on May 22.

“As such, the GSRO does not see the need for the company to meet separately with the minister on their specific licence, as they have requested,” an internal email sent from a principal officer in the GSRO, said.

“If any meeting was to go ahead the focus should be on general policy / regulatory framework rather than specific licences,” the official added.

The principal officer attached a briefing, outlining that the previous government ended the authorisation for the exploration and extraction of gas, but companies who had current licenses could continue with their projects.

The briefing said the decision considered the Climate Action and Low Carbon Development Act, 2021 in doing so.

In line with these policy and regulatory changes, the department is no longer accepting new applications for petroleum authorisations, nor will there be any future petroleum exploration licensing rounds,” the briefing note read.

Europa Oil & Gas received an extension to the first phase of its exploration license from Eamon Ryan, the previous energy minister, until January 31, 2026.

It will still run out in 2034, however.

Its latest interim statement made in March, the company informed investors the Inishkea gas field could bring in $2 billion in future cash flow for the business.

It said the company is looking for a partner to assist with the drilling of the prospect, with interest from a number of parties.

The group told investors the new Irish government has “acted quickly since being elected, approving plans to reduce Ireland’s exposure to potential disruption of gas supplies “

“It is hoped the new government will be supportive of the domestic upstream sector, approving plans to develop a state-led floating LNG terminal,” it stated.

“The new minister for energy is seeking to reduce Ireland’s exposure to potential disruption of gas supplies and as such it is hoped that the new government will be supportive of the domestic upstream sector,” it added.

This is the headline story in today business post. So what happened in the meeting on may 22nd .

Part 1

Official tells Darragh O’Brien: Don’t meet firm that found one of Ireland’s largest gas fields

A Department of the Environment official advised Darragh O’Brien, the minister, against meeting the head of a company that has discovered 1.55 trillion cubic feet of gas at Inishkea West, near Mayo.

In February, Murray’s PR sent an email on behalf of Will Holland, chief executive of London-listed Europe Oil & Gas, requesting to meet with O’Brien.

“The company's chief executive Will Holland would really value an opportunity to brief you on the work being undertaken now to establish the ability of Inishkea to be ready for drilling, with the potential to be a secure, low-emission, indigenous energy source for Ireland,” the letter said.

The gas exploration company has a 15-year frontier exploration license for the Inishkea gas field, off the west coast and near the Corrib Oil field.

It previously informed investors it had found the Inishkea West site, part of the field, potentially holds up to 1.55 trillion cubic feet of gas - 92 per cent more than its previous estimate.

According to the letter the gas field “has the potential to provide Ireland with circa 75 per cent of its forecast gas demand until 2035”.

The letter said the field “could almost eliminate the need for gas imports from the UK during a three-year period between 2030 and 2032”.

Europe Oil and Gas said with its close proximity to the infrastructure at Corrib, it could be “brought online quickly and would enhance Ireland's security of supply”.

The department confirmed to the Business Post a meeting never took place between the minister and Holland.

An interdepartmental email sent in April advised the minister’s office not to meet with Holland to discuss the licens

Very interesting although the trade was yesterday. Strange it had no effect on the share price today . It’s all very strange

Experts!!

Not really relevant to us as we have a licence except it could rocket oil prices to over $100 per barrel according to to the exports .

Also the Cambridge Economic Policy Associates (CEPA), gave an updated report on the state’s energy security of supply review to the dept of environment on Friday . It is expected to be published in coming weeks.

Is it a closed period, Vernetles , don’t they normally publish a month or 2 after for the Jan-June 2025 figures. Open to correction.

I’m not stressed at all, enjoying a few weeks in New York.Slainte

Makeabundle.. I am confused . Lol.

Cephalo, Give it a rest. You couldn’t even find this fund raising info . Read my comment again more carefully.

News like this , is not just hidden away but written to create some level of ambiguity, so your comment is your interpretation, no doubt influenced by the new paragraph.

Finally , how you seen how much money they have in their accounts. Financial,legal advisor fees alone for even a minor RT can be 250,000+ . How will just those alone be paid for ? How will Landowne maintain a substantial equity presence in the new setup? They have no assets at all, until they sign a funders agreement, and even that will only make it a contingent asset ? Answers on a post card .

Think again ???. Makeabundle, Here, I will make it easy for you . Here is the relevant section from the accounts note issued last week.

“The Company has been working since the second half of 2024 on a Reverse Take Over to acquire a new asset that has the potential to create additional value.

“A fund-raising is planned to accompany the completion of the Reverse Take Over and the process of readmission of the Company's shares to trading on AIM.

The ability of the Group and the Company to continue as a going concern, therefore relies upon successful future equity fund-raising and continued support from the holder of the Company's loan note.”

-so, in future, dear boy , read all the document before you start casting insults as it’s not a good look.

Read the notes to the accounts - what were they hid the juicey stuff . Word of of advice : read the accounts notes first before telling people they are getting things mixed up .