RNS13 Jan 2025 10:05
Indeed a very positive RNS. The management are doing everything right and in a timely manner. You can't ask for more than that.
With regards to the noise on twitter, there's definitely a lot of ramping going on. Most shouting how great this project is but with no facts to back it up.
Yes it's a great idea, yes it could prove to be fruitful for investors but at this point in time, it's many years from happening. So here comes the questions which are not an attempt at deramping. It's called being sensible and having due diligence:
- 2p and 2c gas reserves. For those not familiar with these terminologies. 2p means an estimated >50% chance of reserves being recoverable. 2c means there are potentially reserves which are recoverable but not yet commercially recoverable. Whilst 2p is a good sign, I'd be looking to have 3p.
- what assets do EPP own which could bring the gas project in production, if any? Are they looking to go in to a JV with a major O&G producer with the hope they bring this in to production? With an estimated 6 years left, would the project be worth it?
- what is their B plan if they're not shortlisted by the UK Gov. This, imo, could cripple them.
- if they fail to have a major O&G player going to a JV with them for the gas project, how will they fund this? They can raise capital on the market but share dilution will not be enough.
I'm very shrewd with my money, I like to have questions answered honestly and with a balanced view before I invest any of my money. I have £40k set aside for a renewable project like this but for me, I need these questions answered.
So far, all I see is hype and whenever someone asks a reasonable question, they're criticised. That in itself is a red flag.
I'm still open to investing here but if anyone could at least point me in the right direction if they don't know the answers to these questions, it would be appreciated.