Member Info for isdeer

Still waiting on RNS, anyone think of a reason for delay, maybe looking to increase divi.
Or more likely wishful thinking on my part.

Yes, minus expenses.

Given UJO announced net profits of $9m from wressle, we therefore have to assume EDR and EOG must also have circa $7m from wressle alone, we also know EOG have 3 other onshore UK wells delivering around 93 bopd.
We also know they had 0.6m in cash and no debt around the time wressle came online.
Ball park figures for wressle must be c$750k a month, adding the other 93 bopd, we must be around c$1m net profits monthly for EOG.
By year end EOG as it stands will have made a net profit of c$13m from its onshore oil fields. Imo.

Shock horror, divi cash in IG account already.

news must be incoming, ujo always a bit leaky has jumped a bit in last few hours, might mean wressle good news imminent.

The beauty of the Serenity deal is that even if it fails, there is backup protection in place for the SP.

should it fail to prove an extension of the discovery, the c.10 mmbbls already discovered (c.2.5 mmbbls net to EOG) is expected to be commercial as a joint development with the neighbouring Tain field, providing protection on the downside should drilling disappoint.

That’s 5

4 green triangles hanging on my I3e chat board, the more the merrier.

Lots of answers on Wressle will be forthcoming when the Gaffney Cline report is published.
UJO one of the 3 partners commissioned the report

They are compiling three production scenarios for the Wressle oilfield,
Looking at the low, medium and high cases, covering the remaining planning period of 13 years.
They will also comment on any possible untapped resources at the Wressle-1 well that may be present.

I guess we will all be hopeful the 3 partners all rerate once this report lands, news is due soon.

what does the future hold for free ports.
I'm guessing trade will resume for free ports, they will pick up the mantle where brexit killed trade with our euro allies.
Charter cities will be the future vision for the billionaires with the help of this govt, we will have cities within cities where they govern, where they control the laws judiciary and immigration, I'm guessing it's one of the many reasons for wanting to change human rights and to dismantle EU laws.

The beauty of the Serenity deal is that even if it fails, there is backup protection in place for the SP.

should it fail to prove an extension of the discovery, the c.10 mmbbls already discovered (c.2.5 mmbbls net to EOG) is expected to be commercial as a joint development with the neighbouring Tain field, providing protection on the downside should drilling disappoint.

I3 are hedging their bets, they will have first dabs at Ireland and Morocco, I’ve no doubt both have been reviewed by the I3 technical team, they will have been fully briefed.
It’s no wonder Simon Oddie was exuberant about EOG in this interview, never mind Serenity he’s probably also had good feed back from the I3 technical team regarding the Ireland and Morocco license areas.
Exciting times ahead for EOG and all its partners.

I might be wrong in my calcs, maybe someone can answer and put me right.
To get the price for 1 billion cubic metres of gas It’s quoted on internet as 36.7m x price of 1 mmbtu.
If 1 mmbtu = say £8 for natural gas in the North Sea, this equates to 293m, so 2 x 293m = 586m worth of gas for the 3 partners.
Roughly speaking EOG and EDR stake is worth c £175m, with UJO c£234m.

Oddie used the word SYNERGY when he talked of the connection between the two companies over the Serenity deal, why would I3 choose a small partner like EOG in such a major project.
I like the idea of a long lasting partnership between these guys with the Serenity deal only the first of many more to come, can we imagine these two working together on other ventures such as Ireland or Morocco, EOG with a £25m mcap could be transformed beyond all our even best case expectations. Still plenty time to buy more at these lowly prices, wressle alone covers the SP with more than a bit to spare.

Hot chip, you have more than redeemed yourself, that’s a good update.

Tovoc, it’s good to be reminded, we will kick ourselves if we miss this opportunity.

All 3 Wressle partners have a P/E ratio of 4, all have a market value roughly equivalent to 4 x yearly profits. With Wressle not fully developed yet, they are all cheap as chips.

boltok,

You have just summarised the investment case here, even without the Serenity drill EOG is undervalued, Wressle alone carries the SP and that’s still to be fully developed, with the Ireland and Morocco licenses it’s a stonking buy at these levels.

Tony,
There is no plan, the plan can only happen on the conclusion of the drill.
We the shareholders and the companies involved can only speculate since we don’t know the drill outcome yet.

Yes they do have money constraints given a successful drill, doesn’t every company, in the mean time it’s probably the last thing I’m worrying about as a share holder because I also have options given a good result at Serenity.
I can sell at a higher price than I bought at, I can top slice my profits or I can hold.

If you build it, they will come. Stonking buy.