Member Info for phoenixdude

I personally don't see any news coming our way. The last RNS of any significance was the January Irish licence extension, where WH was 'delighted that our application has been granted and that we can continue with further technical studies of the licence and seeking a project partner'. I suspect management are working to a timetable of getting something moving before the annual bonuses are calculated, perhaps November. Nothing before then I feel.

You always like to think something will be announced to coincide with Proactive, or the shareholder meet and greet, but it never works out that way.

As expected, nothing new tonight. They have been gazing at their navels for the last 6 months before thinking about farming out EG. FFS, they have previous on this, having been thinking about farming out Ireland for, is it, 5 years? Has nobody told him that tonynordstrom is going to convene an egm by year end if there is no progress? WH scuttled out of the room immediately afterwards, not stopping to speak to any shareholders, as they are not important to him. He probably has to go back and count his money. Tony, I think you are holding the baton on the EGM. Go Tony.... show us how it's done, mate.

Love it! Fantastic, let's all fill our boots on the certainty of a 4 bagger!!! Brilliant intel, aecofaeces

Yes, we do have good cashflow, that's true, but we don't see any benefit. Not like over the road at UJO, where they have just dividended out £250,000 to shareholders (my maths may not be correct). We could do with some reward for loyalty here as well.

Share price has dropped 20% in the last month and it is on an accelerating decline. It is now May, so in reality I don't see anything positive on these projects coming out until September, when we may be closer to 0.5p. Nothing in the portfolio is in the gift of management to generate news. The whole portfolio relies on outside parties performing. When they went after a project to drill themselves it was a total flop. Track record is lamentable, hence the share price. Tony can feel persecuted because he thinks we should be able to call an EGM ,but honestly, for what purpose? Everything is stacked up against shareholders and the management are sitting pretty at the top end of the pay scale. Maybe 'proven oil finder' Eleanor can turn the ship around, but as a independent non-exec, she will just be there to make sure the management get their pay rises and bonuses approved on the AIM gravy train.

Adnatrob, are you buying, then? Very little risk... do you honestly think it will not go any lower? Since June of last year, the stock has been effectively on a straight line downward trajectory, so unless there are some fundamental changes, it will continue IMHO. Development of every asset in the portfolio relies on someone else performing. Farminees, governments and operators. It is a doomed strategy, I'm afraid. At least UJO pay dividends.

You guys need to ditch the siamese CEO's. They are just taking your shareholder value and using it to feather their nests. Kick 'em out before it is too late. They only have one non-exec who used to work for Repsol who knows anything about oil and gas. Really, a stranded gas project nearly 20 years in the waiting in Italy, a UK project that won't make money and a US project that can't get its enviro permits. It needs new blood.

Looking forward to it. By double digits, do you mean 1.1p instead of 1p? Double digits, what a joke

Why do you say that? Is it queued for release? And what will it say - another 12 months of studies to accompany the Irish work programme? They only have until Q3 next year to find a farmin partner or the licence will lapse. Their track record at finding farminees suggests this will be another stressful time for shareholders. As for your valuation - a bit full, don't you think? Maybe £10mm for Wressle, nothing for Ireland and EG until they land farminees and certainly nothing for Cloughton and Serenity. Not far off where the market has the stock now.

I can't really see a scenario where WH and SO fall under a bus, unless they are mowed down in a freak taxi rank accident on the way to first class check-in for Rio.