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Yes Les, Interims last April were on the 24th with this quote about Inishkea;-
'A farm-out process has begun which is expected to conclude by year end 2023, with the aim of bringing in a partner to assist with the drilling of the prospect.'
And we're still waiting.
@ tonynorstrom1
"I don’t see how I can be accused of peddling untruths and being disingenuous. It seems to me that I’m the one that is owed an apology here. "
Tony, as you seem to like quoting definitions, here's one in the 'Urban Dictionary' of "disingenuous" :- 'To profess ignorance while actually being in the know'.
That is exactly the situation when you called Paul, 'Whats his face', when you knew darn well what his name was and that was why I suggested that you were disingenuous and owed Paul an apology for referring to him in what was frankly, a rather childish way. It was not about anything else you mention.
I've followed your posts for some years now mainly on I3e and in the main found them interesting and informative and was impressed by your knowledge of the industry and the amount of time you must spend on the research you carry out but when someone disagrees with you it becomes tedious. I blocked 'Oilman Jim's' posts and in the end closed the LSE tab because of your battle with him in which you were probably correct but in the end I stopped looking.
So, yes I still think that you owe Paul an apology but again I won't hold my breath.
Sorry donalb,
I assumed your were living in Eire as you always seem to have your finger on the pulse regarding relevant news in the land of my birth. Like you I no longer live there and left as a toddler so have no links.
Looking at Sinn Féin's info they don't seem any better than the Greens and if they have to form a government, as you say, they will probably have to ask the Greens for support to have a majority and Ryan may still be in place after that. I hope that I am wrong but I'm not convinced Sinn Féin would be any better. Hopefully the reality of being in government might concentrate their minds towards supporting the extraction of off-shore gas rather than importing it.
Hi Serif,
Not sure if they are Bed & ISA sales as when I did mine last April 6th, the repurchase into my ISA was a minute after the sale without any price difference except for the £40 charge made by IG for doing it. I don't recall them being shown as sales and buys at the time.
If these are sales waiting to go into an ISA there is is risk of an increase of the SP after April 5th (ever hopeful) as well as the spread difference.
Well done Paul,
You’ve saved me from saying what you have posted.
Tony you were disingenuous if not downright rude to refer to Paul in the way that you did especially as you know darn well what his surname is .
You have not done your reputation any good by your post. I expect that you will respond in your normal way as the self appointed censor of posts on LSE.
Serif, just to clarify - Paul did make sure that all of the 5%+ shareholders had the required letter from their nominees before he would send the request for an EGM as he anticipated that there could be a potential issue with the shares being held by nominees. So the only "paperwork technicalities" you suggest were the fact the shares were held by nominees not the shareholders and in that case EOG approach was exceptional compared to the Reabold situation.
Equatorial Guinea’s Minister of Mines and Hydrocarbons, Antonio Uburu Ondo, will speak at the 2024 edition of the African Energy Week (AEW): Invest in African Energy conference – taking place November 4-8.
I hope we don't have to wait until November for some positive news from EG!
Sorry Tony but you are not correct in what you have said. Paul did have the correct paperwork from the Nominees in the form of supporting letters and did have sufficient numbers to exceed the required 5%.
WH ignored the request for an EGM on the grounds that the shares, being held by the Nominees meant that only the Nominees could legally call for the EGM and HL etc were not willing to do that. Reabold obviously accepted the request on face value and did the right thing, treating their shareholders request on face value rather than hiding behind the rules/law in the way that WH did.
Serif & Les
Do you think our seller has finished? He could get 1.05p for his usual 500,000 sells today which is more than he's been selling at. If it was an Ii there should have been a TR1 by now i would have thought.
‘Smaller companies have become extremely unpopular since Aim shares hit a 20-year high in 2021’
Investing in shares is at times a very frustrating experience. An investor can do all of the right things, such as buying high-quality companies that go on to deliver strong financial performance, but still fail to generate large profits on their holdings for sustained periods.
This situation is likely to resonate with investors in British shares, and especially those who own stakes in smaller companies, which have become extremely unpopular since the FTSE Aim All-Share index soared to a 20-year high in September 2021.
The index has subsequently fallen by around 43pc. Judging by the downbeat outlook currently adopted by most investors, a return to the heady days of plentiful capital growth seems highly unlikely in the short run.
In Questor’s view, investors in smaller companies must accept their limitations. There is little they can do except ensure that their current holdings are financially sound, performing well and still offer fair value for money, as well as force themselves to be patient. After all, history suggests that under-performing high-quality stocks are only ever a temporary phenomenon.
Let's hope this applies to EOG!
Hi Treasures,
It was primarily the excessive salaries that SO and WH were paying themselves and the lack of shares WH owned that prompted the 'revolt' initially.
It is not a sensible thing to sell my shares and buy them back in certificated form as I would not be able to keep them in my SIPP and ISAs where they are protected from CGT and in the case of the SIPP Inheritance Tax.
I think you'll find Tony, that the correct supporting documents were submitted, it was just that as the shares were held in ISAs and SIPPs (that they had to by law be held in Nominee accounts) and because of an anomaly in the rules the Nominees had to apply for an EGM not the owners of the shares. That is what they hid behind and there was a high possibility that we would have had sufficient votes for, if not an overall majority, but enough to cause embarrassment to WH. So until the rules change we are stuck with the status quo.
In today’s Daily Telegraph:-
The North Sea still has a future – oil will power us for decades’
Licensing boss tells Jonathan Leake that continued offshore extraction is vital to secure the UK’s energy needs
Britain must kick-start a drilling race to extract the billions of barrels of oil and gas that remain offshore, says the chief executive of the North Sea Transition Authority (NSTA).
Stuart Payne is clearing the way for producers to exploit the oil and gas that still lie under the UK’s continental shelf, which he says will help maintain the country’s energy security for decades to come.
Within the next few weeks, his organisation is expected to issue up to 88 new oil and gas licences – which will mark a jump on the 27 issued in October. The move is likely to infuriate environmentalists fighting to end new drilling but will delight many in the energy industry.
Fairdealer20
I assume you have informed PB of your holding that could possibly be used by way of share certificates. The 5% used to request the EGM were unfortunately all held by nominees so it is going to be difficult to reach the required threshold.
If there are any more EOG shareholders who hold certificates or could arrange to have them, it would be a good idea to let PB know of your holdings. Unfortunately none of my 1% are available.
We cannot let WH get away with treating shareholders so shabbily.
@ fairdealer20,
It is my understanding that Inland Revenue rules are that shares held in ISAs and SIPPs have to be held via a Nominee so unfortunately you will not be able to have shares certificates held in that way.