The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Bubble, 2 million shares sold. It must be a seller at that price? This sp is going nowhere. The wise seller sees sense obviously. EOG has no record or experience of obtaining any companies which will farm into any of their assets. EOG always do the opposite and ending up farming into other companies useless assets at exorbitant prices?? Giving the shareholders money away each time!! Well over £7 million of shareholders money, thrown away by the BOD, into so called investments, which turn out to be worthless. I can see the sp down at around 0.7p soon as the wise sellers continue the attrition and get out while they can whilst the star gazers and dreamers remain. Strange that the extremely well paid EOG directors and/or Antler owners are not buying into the EOG dream if it has such a good future. But wise seller's know full well it hasn't a future at all, with the present single minded strategy of the intransigent blinkered Directors steering the ship.
Brezhy, these directors don't have a hope in hell of farming out EG. Look at their previous records on very promising past tries Morocco, Ireland, Serenity, Claughton. All big expensive failures. Time to get out now before the sp collapses completely and then it will be difficult, if not impossible, to sell. Please yourselves!!
Its a question to all shareholders, not a statement of fact, that's all. Directors are sometimes found guilty of Fraudulent activities and as they are now dealing with private companies who are well known parties if not friends to the EOG directors then we (shareholders) all need to be aware of what could happen in certain circumstances? All IMHO of course!! I am sure WH can enlighten us in his next public presentation before another tranch of the shareholders money is paid out to private companies?
Gardener, this share is going absolutely no where with the current blue sky Director's strategy of investing massive amounts of shareholders money earned from Wressle into extremely risky no hope big projects. They think they are BP, Chevron or Shell Directors!! Throwing hard earned money to their mates in Antler with EG. What under the table return are the Directors sharing out from the £3 million given to Antler for the stake in EG. Makes you wonder where the money really goes?
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.