Member Info for PERPETUALOPTIMI

Shareholders should at least expect a statement from Hugh; even if its only to say enjoyed my decade building up the Irish portfolio, but the future strategy now demands a new CEO to take the company forward.

Good one DreamOn. Certainly puts the delay into context and provides a degree of optimism, albeit curtailed by seasonal window.
Well done; a sensible and informative post.

Good take on the situation and schedule; but two issues remain mysterious. If major is serious then what stops them agreeing with a conditional clause? To outcome of survey application? And why has EOG suffered so much brick wall red tape when others seem to have had survey permission given to similar routine application process. If Hugh has said he hopes to have things sewn up by Xmas then perhaps he has put this on Santa's Xmas list. Hope he's been a good boy this year. Perhaps not. Repeating what has been posted previously re the last interview; Hugh looked nervous.

As long as Hugh's statements remain aspirational backers will go elsewhere. The truth is nothing has come to fruition for many years; even the major who was waiting for head office to approve. Buy on the rise when something eventful happens. Perhaps put it on the Xmas list for Santa.

Either optimism or Market Traders edging the price up in anticipation of a failed appeal and making a killing.

Hugh appeared very thoughtful on how he phrased any comment. Little eye contact with interviewer or camera. No mention of major any more. Only that there was significant increased interest in Ireland last 3 weeks. All in all he appears nervous.

So if the wrong party is elected it will be an easy out to say NO.

Just like Tallulah's song in Bugsy Mallone.
Tomorrow.... Tomorrow never comes....

Perhaps misinformed, but the French venture seemed to have just disappeared off the radar.

Could be that Hugh is playing an old strategy of "say nothing" and in the end people will forget about it and the issue will go away. Happened before with Hugh's EOG predecessors.

From 1978, Gas Networks Ireland has developed a safe and secure gas network, with sufficient capacity for Ireland to meet energy demand in an ever competitive global economy. The distribution and transmission networks consist of over 14,172km of pipeline, and are linked to the UK and European gas markets through two Interconnector pipelines with Scotland.

Massive network is hardly going to waste. Backed up by imports from Europe and UK via supply line ex Scotland.
Natural gas accounts for 30% of Ireland's total primary energy requirements, allowing over 688,000 Irish homes and businesses to rely on the network for their energy needs. Natural gas also forms a critical part for Ireland's electricity generation, with 52% of the country's annual electricity produced from natural gas.
And more connectivity projects planned or ongoing.

Saying nothing tends towards Hugh having to eat his words. A typical trait of EOG over the decades it has been on AIM.
3D seismic says one thing (to Hugh) but farm ins just don't share his enthusiasm.

Could be that major no longer has intention of doing a deal and Hugh is now desperately trying to get someone else interested.

Listening to podcast he said those words very quickly and then reiterated that company would be obliged to advise the market immediately of any good or bad news. If a major now pulls out, they do it because they don't have Hugh's faith. If they don't then unlikely anybody else will.

No reason to get over excited; at least two years before next milestone. Then data rooms then ....etc etc
If viable then best drill bit to TD 4 years. And the data seems to be second hand!!
QUOTE:
During the two-year initial phase, Europa will undertake a work programme, which includes reprocessing 1,300 km of 3D seismic data, as well as other technical studies. At the end of the initial phase, Europa will have the option to commit to drilling an exploration well in the second phase or to relinquish the Licence.

Hopefully Hugh has set a deadline for the major to come on board or not. With others waiting in the wings (apparently) and the CNOOC well result well known it is now hard to believe a degree of sincerity from a major who is waiting for head office to approve. Thin ice. It begins to look more and more that Hugh is being led up the garden path.

Will EOG now want to convince the world that their seismic is very different to the CNOOC hopeful wildcat.

Hopefully you are right; but surely if not quoted on LSE then CNOOC are not bound by the rules to immediately publish news that might impact the share price. Still possible the drill ship gone for repairs (unlikely to need secrecy) or to prepare for evaluation period with equipment needing deck space. In the meantime conjecture will prevail.

If CNOOC are not quoted on LSE then not bound by rules to report any event that may have impact on share price.

Due in Las Palmas 22 August 15;00.