Correct Leigh - these "not in my backyard" types all too prevelent in Surrey. Happy to burn fuel from other parts of country or world. Best ignore - UK plc needs the resources and that will be the driver in the end. Good luck to all invested here both on and offshore.
Yup, good to see the resources increasing. They say they still have more analysis to do on the other prospects before any farm in/out discussions Strange as previous announcements indicated they were in discussions with majors. Where are we exactly and when will a FDP be issued (Field Development Plan)??? RNS only gives more questions than answers.
If this attitude persists then government will have to intervene. Not being able to dig my garden because I will slice up loads of worms won't cut it anymore. The planning permission saga is a joke and is delaying progress and vital tax revenues.
Tacuma - I am with you on this. Both EDR and ANGS breaking out of previous sideways trends as a result of the positive PR. As usual not a dickie bird from EOG. There must be no internet connection in that data room of theirs..
dunderhead - the buck stops with EDR as they are operator but as a JV partner EOG board should review the application itself before submission. I've already been critical of EOG per previous failures on this and Holmwood. If neither of EOG/EDR have learned any lessons from previous failures then they should walk. However, I'm more confident now from a Wressle perspective. As for Holmwood it's all rather quiet...
Egdon's new planning application is due in this month sometime. If the two boreholes they have drilled provide credence to it then I am sure we will see a decent rise pending the review process. As you say we still have 30% and $78 Poo. All looking goo if EDR gets it act together. I trust EOG team will also review what Egdon are doing as a JV partner to ensure no further delays.
G - short term we all hope EDR will not botch the new Wressle planning application and similarly EOG with Holmwood. That should return us to above the open offer price of 6p. You then have to make your decision along with many others here. If farm outs for offshore Ireland still look too far away then we have to ask what the current incumbents have been doing. I would imagine lots of shares will be sold around the 6p level so shareholders can get most of their investment back. Hugh can then keep harping on about his great team and seismic data for another two years.
Unfortunately Hugh keeps sounding like a used car salesman now every time he is on video. Time for someone else to lead if he does not produce by end of July. By that I mean 10-12p so with no more dilution.
J - SP is down due to failure/delay in producing from Wressle and Holmwood. We also get the same old rhetoric on farm out "high interest being shown with some majors but we need to do more seismic analysis" repeat in a news letter several times over several months and you have the perfect recipe to make the SP drift down.
dist - I think you need to give the new team a chance. They are not just employed for onshore but to obtain farm outs on the Irish assets. I am sure that both EOG and EDR have learned lessons from the previous refusals so that the next applications are water tight. As Tovoc has stated the negativity of these left wing libby councils is not helping matters at all, but once we get the wedge in the door future planning applications should be more straight forward.
No nobody to blame but themselves for this. Sit there watch and do nothing this is what happens. Serious changes in management required now. 50% decline in SP is not acceptable. Hugh needs to demonstrate he has the mentality to drive this company forward - surely he realizes changes are necessary?
Yup. Let's hope EDR don't mess this one up again and EOG just stand by and watch it happen. EOG need to be proactive in the review process before the application is submitted. I would recommend they employ a specialist to do that as clearly they have demonstrated they are incapable of reviewing these types of documents.