Member Info for GreyPanther

There have been positive changes recently in the SPs of several of the smaller AIM E&P Cos such as EDR, EOG and UJO. This may be to do with the unexpected bid for Hurricane, or more general merger mania, or perhaps even the better oil price lately. What do others think?

There have been positive changes recently in the SPs of some of the smaller AIM E&P Cos such as EDR, EOG and UJO. Is this to do with the unexpected bid for Hurricane, or merger mania, or perhaps even the better oil price lately. What do you think?

Yesterday's big jump in our SP was welcome, and it made me wonder whether there might be some good news on the way. I suppose this an insidercould have known that i3e were about to say something positive about Serenity but more likely IMO was that the results had been leaked. Presumably not, as there's no RNS this morning. But why is it that so many AIM companies are unable to say exactly when their results will be released? I hope the auditors aren't insisting on last minute changes. Can anyone please tell me actual date when we'll see our results to 31/7/22? Thanks.

Thank you for that Selfish. It's good to see the sparks flying well before the EGM, and our current CEOs starting to make some comments. It's not before time. All the best.

I appreciate the feedback on the proposed divi. Now, could someone tell me how I get to see exactly what the Pershing people have proposed? Thanks. GP

I wouldn't count on a £4 million dividend, or whatever it's going to be, as I think it may not be easy for RBD to pay it for legal reasons. Won't the board have to get a favourable court decision in the same way that UJO did? We own a controlling interest in Rathlin who have 66.67% of an expensive WN well, but probably not the funds to drill it. So mightn't there be legal objections to our being paid (?bribed) in this way?

Does anyone just know when we might expect to receive our share of the £4 million which will be "upon receipt of the second tranche of funds from Shell"? Based on what we know of the company's current financial position, it seems me that this is cash that RBD cannot really afford to distribute. So even if 0.04p per share would be worth having,.it looks more like a poorly judged attempt at a bribe to me.

Hi Darton. The re-imposition of fracking ban / moratorium might not be the worst thing that could have happened to us. IMO we have far too many shale gas licences on which money could be spent by Egdon without seeing a return for many years. Maybe they will now concentrate their energies and their Wressle cash on those of their licences which contain conventional O&G prpspects. These could still produce a decent return in under 5 years if exploration and or appraisal drilling is successful there,

Whoops! I should have said that I've just topped up again with a decent chunk of Egdon shares.

Hi Tonno1944. No cold water from me this time, but have you looked at the separate elements which make up Gaffney Cline's production profile for Wressle ? But even so, based mainly on the oil price outlook, I've just topped up again with a decent chunk of EOG shares. All the best, GP.

Maybe it's just my personal take, but the recent EnergyVoice article suggests that our two wonderful CEOs ae showing signs of nervousness,. And that exactly what they should be feeling IMHO.

Winnifroth's continued anti UJO stance again reminds me, bearing in mind his rather murky history, that people who live in glass houses shouldn't throw stones. As far as I'm concerned, TW should shut up as he has absolutly no credibility.

Hi Camchat. Let's say I own a car but have proved that I'm unable to drive it without hurting others. Wouldn't it make sense for another person who has a record of safe driving (and, one hopes, a clean licence) see if they can drive it better? My problem with this metaphor is whether the boys from Pershing really fit the bill. But could they possibly be worse drivers than our current crew? Probably not, IMO.

Egdon Acquired EnCore's Assets in July 2010. Here's the quote: "The package of assets acquired comprise of EnCore's entire interest in nine onshore UK licenses and an interest in the Ceres gas field in the Southern North Sea. As consideration for the Acquisition, Egdon has issued 39,200,000 Ordinary Shares ("the Consideration Shares") to EnCore, which (then) represented 29.998 per cent. of the enlarged share capital of the Company. Application has been made for admission of the Consideration Shares to trading on AIM, which is expected to become effective on 29 July 2010. The total number of Egdon Ordinary Shares in issue on admission (was then) 130,675,774."

The Premier assets that Egdon acquired for shares were mainly conventional oil and gas UK onshore licences, possibly plus Ceres. They formerly belonged to EnCore Oil, who were later taken over by Premier, which is how Harbour came to be a slightly reluctant Egdon shareholder.

Harbour (ex-Premier) have reduced their Egdon holding from 15.14% to 8.85% which is quite a reduction. I wonder who bought the ca. 6.3% interest.

Does anybody know why so many small companies seem unable to say in advance when their financial results will be released? Could it be because their auditors give the accounts such a thorough going over that the management don't know the actual position until the last moment? Any thoughts gratefully received.

HI Seedcorn. Sorry to be pedantic but are you sure we have Irish Sea projects? I think you mean offshore Ireland but happy to be corrected..

I expect there will be some who feel that a 0.8p divi is too little. But for a share that was standing at 25.1p on Friday night this is a yield of 3.2% which is pretty unusual on AIM. I suppose it might be only a "one-off"... so far ... but it's worth bearing in mind that the Shell's yield s currently only 3.7% and BP's is 4.3%. So I'm very pleased with today's RNS, Thank you DB!

Like Selfish, I'm pretty convinced that much of No1plasterer's Fri 18:56 article was authored by Cathal Friel. Maybe not all of it, but I met Friel while he was running Fastnet O&G and I rate him far more highly than ou rtwo current CEOs.