Member Info for isdeer

EOG valued 25% of Serenity at £7.5m as that was what they were prepared to pay. In the end they only paid out c£5m. What’s 4k bopd worth, £50m and some.

Izstar, as Maximus the Roman general from gladiator would say Hold! Hold!

In regard to serenity, EOG said a subsea tie-back to Repsol Sinopec's Tain Field. would be a highly material opportunity, potentially delivering net production of around 1,000 bopd to Europa. 3,000 bopd to I3e would certainly be welcome.

The well cost for serenity was estimated to be circa £14 million with Europa paying 46.25%.

I figure the actual cost to Europa for 25% was c£5m as £2m was returned to them from the escrow account as the well came in under budget.

The Acquisition of Egdon values the entire issued and to be issued share capital at approx £26.64 million, Egdon produces slightly less oil than Europa, it has more Uk licenses but doesn’t have an Inishkea or a Serenity on its books and isn’t valued at only c£12m with over £5m of that in cash.

Thanks for that Izstar, you wouldn’t believe it but I had all sorts of thoughts in my mind regarding a large holder who had a relationship with a would be buyer of EOG, they were working together by unloading shares as part of some despicable plan to hold the SP down and buy the assets on the cheap.

Very honest of you izstar, I hope you hold onto some of your shares in EOG to see how this pans out.

Good luck to those still buying, we have a large seller out there holding the price down, personally I’ve added more than a million over the last few weeks, I will continue to add as others sell. Wressle alone at current levels more than covers the current SP, with more to come.

Krull, don’t want to preach to the converted, however that 10k sell was quickly bought into, just shows there are plenty holders out there waiting in the wings and adding on any weakness in price. It just needs a little push, maybe buys from management to get this noticed or a committed investor with plenty cash to get the sp moving and we will see the buys will flood in.

Looks like I’m going to have lots of EOG shares, mind you I can only buy so many.

Our day will come, my portfolio of different shares is dwindling by the day.

Of all the partners in Wressle, EOG is not only the cheapest by multiples, it also has the most potential for huge rises from either Inishkea or Serenity imo.

Anyone buying into our serenity partner EOG, just a heads up as it looks well undervalued if compared to Its other Wressle partners EDR and UJO,

For info I recently bought in at 1.10p 1.11 and added more at 1.15, it’s 1.35p as of Friday.

I lost out like many on the back of the Serenity drill, think price drop was overdone.

See EDR RNS and sale at over double mcap to see why EOG price is rising.

Agreed Krull, they need to keep the price low to make the offer which will be high look more acceptable to the board and its shareholders.

Alternatively they could be looking at a spending big on EDR and it’s other assets and wressle or EOG isn’t a priority.

Whatever happens EOG is well placed to benefit, especially given its lowly price.

Good point Hobione, I lost out on a few quid when I topped up on my CAML shares as I I bought on the morning of the 27th April, the RNS one line divi info wasn’t clear IMO.

(Final dividend payable on 23 May 2023 to shareholders registered on 28 April 2023)

There is more clarity with I3 RNS’s regarding divi payments.

I bought Caml shares at 08:31 on the 27th April via Halifax account.

If all the shares are registered to someone, the person I bought them from has to have been registered as the shareholder on the 28th, how can that be when I am the new registered owner at the start of the following day on the 28th, therefore final dividend as per the RNS is payable to shareholders registered on the 28th April and that’s me, not someone who sold on 27th, how are they still the registered owners the following day after they sold.

I bought more shares on the 27th April, but no divi, paid out for shares bought months before but not those bought on 27th April with Halifax, am I wrong to think I should get divi?

I thought ex divi date was 28th/ registered on 28th

Eog’s cash in bank is near half mcap.

They also produce and sell more oil than Edr, whose mcap is well over double Eog.

They produce and sell slightly less oil than Ujo, but have nearly a third the mcap.

Everything else is wishful thinking, Eog mcap seems to be based on Inishkea and Serenity failing and the oil they sell from wressle being less valuable than their partners.

Crazy selling at this price imo.

It feels like EOG is the black sheep of the wressle family, like the lost brother people have forgotten about and no one talks about, either that or he’s married to the worst wife anyone can imagine and no one wants to visit, maybe he’s just a recluse.

If it’s none of those can anyone figure why the huge value disconnect between (ujo,edr) and Eog.

Has the £2m been returned from the serenity deal as I can’t remember it being RNS’d?, maybe it’s been placed within another RNS, anyone direct me to that info.

Mike_p thanks for that.

The read-through ‘fair commercial’ value for Europa’s stake in Wressle, therefore, is around 2.6p/shr net to #EOG, which represents a 148% premium to the prevailing share price.

Marvellous, let’s see some buyers

Forgot the important one £5m in cash and every year increasing cash pile by millions.

Do the EOG directors get to spend it and more or preferably imo a savvy company with expertise.

Tavoc,

I hope I’m right, however it doesn’t take away from the fact as you say, EOG valued at c£11m produces more oil than the company that’s in the process of being bought out for £26m.

Eog I feel is undervalued at £11m because they took a £5m risk in the NS, it didn’t pay off, people forget it still holds oil and they have 25% of that license, is the market still holding a grudge, once bitten as they say.

Why does the market value EOG so cheaply in comparison to the other wressle owners, it’s not just wressle , it’s Inishkea,the NS and their other licenses and producing assets, they currently hold no value, even wressle with 30% is undervalued in comparison to it peers.

I’m holding and waiting till the market catches up.

Gl to all holders

If most of the price is in wressle, why is EOG valued at c£11m with EDR and UJO each c£26m