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Trackman, that's your decision to make! My intentions are clear. BOD's certainly need to wake up and and see what past mistakes have been made and completely change strategy IMHO. They are going nowhere at present except down, down, down!
SP now 0.8p to sell. This tells the full story of what the market thinks of the BOD's strategy. Absolutely tragic situation no hope in sight of anything decent to say at all to improve matters. WH needs to start investing in the company to show faith or resign.
MM's frozen. Can't buy any all morning. I expect MM's are waiting for people to sell but no one is at stupid prices being offered. MM's must think PI's are crazy and desperate to sell. Maybe a bid on its way??? Hold on folks, don't even think about selling at prices being offered.
Another can kicking meeting to give the same old, same old. What a waste of time and money. Obviously nothing at all positive or reals news to announce just a 5th time re-run of WH and wowee a new director!! To waste more money in salaries and unearned bonuses. What a joke this BOD are turning out to be. We need to sack the lot of them and sell the company ASAP.
Itsawrap, if UJO do bid for or merge with EOG, then the whole of the EOG management team would have to go. I also believe that, for UJO to be involved at all with EOG, then EG project would be sold off and Serenity and Ireland hived off to the highest bidder , to build up capital for the expansion of the USA venture if Andrew 1-17 is a successful. Doubt that EOG Directors will want to leave their fat salaries so IMHO it is very unlikely to happen.
EOG Directors starting to see some sense at last. Today's decision shows the Directors are starting to move away from the UK's ultra expensive, over regulated and very risky oil and gas development projects which are only for the extremely rich, big oil companies. Directors will hopefully now look at more tangible, near term return developments with little risk involved to ensure the companies Wressle revenue stream, when it degrades in the next couple of years , can be easily maintained or improved. Earn your big fat salaries Directors and invest the revenue from the Wressle cash cow very wisely. Investors obviously need to see some return with a growth in the sp or dividends or BB. otherwise the company will sink. Change direction and strategy and cut the management costs and the sp will start to grow . Try it !!
Prowler, you will be waiting for a lot longer than 6 months for anything to happen to the sp unless the directors change their strategy. Any money that comes in from Wressle is immediately poured down the drain into their fat salaries and bonuses which they do not deserve at all and into over the rainbow projects that they cannot afford . The Directors think, delusionally, because of the present Wressle income, it is a multi billion pound business they are running, but it is barely surviving let alone thriving at all. The directors need to get real, wake up and smell the coffee and Change their tack , now!! They are throwing good money after bad chasing a dream farm in which will not happen this year or next. Four times they have tried and not a sniff of a farm in from anyone. Bunch of losers, fall on your swords and save the company millions of pounds a year!!
Flombo, the truth hurts, but the sp will get a lot worse than what it is now, unless changes in the Directors strategy are not put in place soon. Things can get much much worse, than the dire position they are in now, before they can get better and sp improves. The Complacent Directors need a wake up call otherwise the company will fold. They seem to have lost the plot completely!!
Bobbyb,
These talking shops are just a means to kick the can down the road and keep the Directors fat and unearned salaries coming in. The shareholders need to see positive action by the Directors in areas that are certain to provide some decent income and start to reward the investments made and increase the sp. Directors need to invest the Wressle cash into an oil and gas development that will succeed but NOT go Kite flying in the UK or Ireland or go for ultra high risk projects and ultra high cost pie in the sky developments that take years to obtain any possible financial returns. Change strategy to near term low cost easy to develop projects in oil and gas friendly countries. Listen and learn after your abject failures in Morocco, Ireland, Serenity and now EG !! All high class glossy hooker type projects where Directors fingers have been burned at shareholders expense. Will they ever learn after all these extremely expensive failures?
Bobbyb, I am certain that the new Labour government will put a stop to Claughton ever getting planning permission for gas extraction wherever EOG decides to drill . Another absolute waste of shareholders money and only provides kicking can time for the EOG Directors to continue to pretend to be earning their fat cat salaries for doing absolutely nothing for the company shareholders. The Directors haven't a clue about forward planning and predicting what will happen in the future and doing good and realistic risk assessments of their plans. No future for EOG without a change in strategy by Directors. Use the money earned from Wressle wisely!! You have wasted over £7 million over the last 2 years with zero return!! Criminal, while you are still earning your fat salaries and getting nowhere? Let's get some decent return on the shareholders investment.
!!
Gardener, problem is that the Directors haven't got any other true or real excuses for the sp being so low except themselves and their crazy obsession with blockbuster over the rainbow farm in deals when it is EOG who are splashing their cash to farm in to 3 crazy very wasteful deals at Serenity, Inishkea and EG. Not one farm in nibble from a big oiler in sight, how wasteful is that of shareholders money? Directors have to go or change strategy or the company is well and truly sunk.
Vermillion should stop or reduce production until the tax situation is sorted with the Ireland government. What an odd shower of s*** the Irish government are. The Irish people who use energy in their homes will end up paying dearly for this tax, tax, tax on the producers. And the imported dirty gas from the UK will increase so the greens will go backwards just like the Irish like it. Living in the past all the time? Never learn!
UJO changed strategy from investing in UK oil and gas development to USA with a partner that is producing oil and gas and has extensive experience and knowledge of the producing oil from similar types of Wells being developed in the area. Also they have invested the shareholders cash into already producing oil fields with Royalties which gives regular assured income to the company with extra benefits if other wells are successful. Extremely important and WISE tactics employed by UJO. THEY CHANGED STRATEGY FROM BEING A UK ONLY OIL AND GAS DEVELOPER to spread their wings and EOG must do something similar to survive and thrive otherwise demise!! Get it?
My prediction is that if they continue with their current strategy of high risk and very costly adventures they will eventually run out of cash and fall into liquidation so sp will disappear. Is that what the shareholders want. Kamikaze directors?
Definitely a great time to top up the account holdings in Block Energy. SP has gained another 5% up to now today and it is just taking another breather until it builds up steam again for the expected next rise to above 2p. Still cheap as chips!!
Serif, think about it logically. My investments are spread over many different companies and if I see any that I consider are underperformed then I will obviously say so on the BB. It is obvious that these directors are making extremely poor and ill thought through decisions with the shareholders money. Not just once but 3 times, with Serenity, EG and Ireland. All the same mistakes made on extremely high risk ventures, that are several years away from possible payback, if ever at all. The directors need to learn lessons instead of making the same costly mistakes again and again. You must be fully aware of the insanity of persons who attempt to do exactly the same thing over and over and over again and expect a different result? CHANGE STRATEGY - LEARN !!