Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have sympathy with both points of view - that we are moving forward slowly but surely to a positive conclusion or that we are trapped in a vortex of endless re-interpretation and promises. Either way it is a poor way to mange the process.
Now what does that remind you of?
I apologise, Swampy, I didn't actually realise the streets of this tiny little island were running red with pollutants, the country's roads gridlocked and houses falling down around us from man-made earthquakes. Gosh, I think you need to patent the rights for the next Hollywood disaster movie, because it sure is a 100% total fiction! Maybe you would do us all a favour and reduce carbon emissions by switching off your computer.
I must say, that is completely weird for HM or someone else in the EOG hierarchy to enthuse about a competitor's results. Very very strange. Well spotted.
Selfish, I have been accused of much worse. I would love the share price to be 10p, 20p, you name it. But my view is this management just don't have it in them. They fixed our medium term ceiling at 3p because of the placing, I had nothing to do with it, but I do not support them raising cash to tread water.
Rizo - 'nasty spreads' sounds like a porn site.
Dunders, no worries. I don't go near Twitter.
Classic, runs out of steam 10% over the recent placing price. Glass ceiling remains intact, so no sign of broken glass for farminees to crawl over!
Dunders, I too am old school. Ignoring the self-inflicted drop due to the placing, the shares have been on a straight line decline since late September which is pretty easy to project forwards even with my GCSE maths. September is when I guess everybody thought good news on farmouts was not far off. I am not sure how far we can still drift, but on that trend, we should be below 2p by mid April unless something positive happens. Really, really, really hope it does turn around, but it sure is out of our hands now. Nothing positive or negative we say can really affect the reality of the situation, so I guess we just need to sit tight and pray.
Cairn, probably like everyone else, including farminees, will be waiting for the Nexen well. Only a few months away, so why stick your neck out now? The price of the farmin will not go up if the Nexen well is a success because it will not change the cash requirement for EOG, so no harm for them in waiting, not so for us imho
It is interesting that someone can buy almost 1% of the company in one day and the dial hardly moves at all. If it continues, then it could be very interesting indeed. We could do with a hostile bid to liven the share price a little!
Dunders, isn't this outsciencing the problem a little - all you need is a stonking great prospect and someone willing to fund drilling it. Point taken doing the analysis for your returns on blue chip companies, but it is more the size of the company rather than the level of investment - for a company like EOG it is just this binary outcome - make money or lose it completely.
Rudey, JT,
Here are my observations
1. I said I would sell on the next spike - well there really hasn't been one since then as there has been no good news that points to getting wells drilled
2. I agree ANGS are in trouble, due primarily to personalities, it seems. UKOG, well they are spivs.
3. PVR, however, have secured a 5 well farmout on great terms
4. Not sure blaming myself for the share price performance holds water - if we had drilled duff wells, I could say yes I made a bad choice of which prospect to back, but I hate to say it, there has still been no drilling activity or sign of it.
5. Share performance is for the most part a management-driven process, not shareholder-driven
6. 94bpd last year (down 20% year-on-year) is more providing the management with a safety net rather than capital to invest.
If you like status quo (not the band), this is the share for you. I can't sell at sub-2.5p, there is no point at all.
Come on guys, this fantasising about 15p, 10p or frankly even 5p is fanciful to say the least. Sure, with a farminee locked in to drilling a couple of wells, no problem, but where is that eh? As we Poles say, there is a special place in hell for promising the earth and delivering ****!
On Monday it will be exactly 2 months since the last regulatory update to the market on the Irish projects (I think), which referred to a farmin deal subject to head office approval, 95% of the way there, but no guarantee of a deal (sound familiar??). So discounting the festive break, there have been 6 working weeks in which to get that approval. I know there will be pushback on this sentiment, but it would seem to me that this was wishful thinking from HM. The Company went for a placing with that announcement and now has a few million in the bank. I don't know why you would punish shareholders by depressing the share price in another placing if you honestly thought there was a farmin going to happen which would alleviate the need for the cash. Key word there is honestly.
The only thing I can see Grindr is good for is sticking the BOD in one, one director a week until the farmout is signed... Mr White style.
Nice one gibbers
Dunders, you got that in one. There is nobody else that can do the job in-house, but there are countless oil and gas professionals out there who can - young blood (please not a former Mckinsey/consultant type or other similar who has read in the manual how to do the job but never actually done an honest day's work at the coal face) but somebody with vitality and the ability to just turn it around. Please!!!!
Well cr@p, it looks as if the share price has finally come off the 2.90p plateau. It was only a matter of time. Dismal performance. I don't see HM changing his spots - it is up to the Board to change things imho
Indeed. Sexist, ageist and an all round eejit. Rude by name, rude by nature! Probably a MM. Anyway, whatever he says or does doesn't create value for shareholders - only management can do that.
There is a movie on tonight called Flatliners. I wonder if they need to make a sequel starring HM and the EOG share price!
This is a joke, Rudy, before you twist off...
I don't quite know how this has become a Brexit debating board. However, whether a leaver or remainer, you must agree that this government has truly made a complete pig's ear of the whole process. It is quite tricky to reconcile when half a group want to do one thing and another something that is a polar opposite and the feelings are so entrenched (like Catholics vs Protestants, Cavaliers vs Roundheads). The divided population now have no say-so in the process, save to take up arms and fight when they disagree with the outcome, which at least 50% of them will. After all, one MP has already been killed in this process. But then that is not very English, is it? Dark times ahead... come on Hugh, a glimmer of brightness required.
If you want to find out who is farming in to Ireland, just ask hm tomorrow at the EGM. 'I'd be happy with Total' - what kind of BS is that? I'd be happy with Lidl if they paid the well cost. There is no point double guessing in a 'I know the oil industry better than you' kind of way!!