Member Info for porkpies

shell sold 45% corrib (1tcf) for $1.23 billion.

Hi tacuma No I'm pretty sure its they can only buy (exercise option) once the share price has been above 10p for 30 days. I think the option is awarded to them for free. They have till 2028 (10 years) to exercise it. So if next July/August there is a big commercial gas find near corrib and the share price goes to £2.75 then the directors can exercise their options and they can buy 1.2m shares for 6.5p.

The new directors have been awarded options as an incentive. They have an option to buy ordinary shares at 6.5p but can only buy the shares once the share price has been over 10p for 30 days in a row.

use a heavy lift helicopter or chinook to move most of the kit by air? would this work?

public consultation about the application ended 25 april and then the application was withdrawn the next day

don't get too excited. its just the traffic management plan. probably going to resubmit something else. view it on scc planning website

licence holders in the slyne basin region include europa, providence, serica and faroe not discovered much info about faroe's licence but the prospective resources for providence and serica's LO's were much smaller than europa's 228bcf for PVR and around 438BCF for Serica meaning europa potentially is the holder of the largest prospects in the vicinity of the corrib infrastructure

sometimes you just have to take a chance. the potential is there. news of a farm out could drop at any time

what about the irish government banning oil and gas exploration? the main opposition party voted to ban them. the next general election must be before 2021, if not earlier, what if they get voted in? when is the committee stage vote? there was also talk about watering the bill down though. there was also press articles about a new LPG route being opened up from USA to cork. we need some clarification on this.

Rns Says the holding is in part a long spread bet! Long term committed shareholders then? What happens when it is closed? Seems strange though as who would take that bet? Whoever laid the bet must need a total wipeout at eog to win unless not laid at current price but then you'd just buy shares Any thoughts?

cash balance at 31 January 2018: �2.3 million (31 July 2017: �3.6 million) �1.3million in 6 months the cap is coming imo

relaunch the south porcupine farm out process? i think other junior players have bigger prospects than 700m which will be higher in the pecking order to our, such as providence where the prospects are in the billions the interim report reads the same as 5 years ago. corrib looks good however providence, faroe and sercia also have similar licences with faroe already farmed out to nexen. plus nexen being canadian have the link to vermillion this share was worth a punt because the UK assets underpinned the share price and cash flow but they are struggling to get these moving. the turning point for me was parliament voting to ban oil exploration in ireland whether it actually is banned or not its going to make farm ins far less appealing all imo

dunderhead you could apply you hypothesis about the market not agreeing the seismic is great to providence resources for example they have only recently farmed out to Total yet data has been available for years i think it just come down to timing and other opportunities available

10% 16/14 farm out petrel?

o&g director solely to improve oil production? a more diverse team? how would these change the outcome at wressle and holmwood. the outcome would still be the same imo remember eog and partners carefully work with the planning departments at these councils and work up perfectly acceptable applications. the planning department then recommend them for approval. the people at the council that eog and partners work advise them what they have done is inline with planning policy etc. then the councilors vote against it must be like banging your head against a brick wall. i dont see how different people at edr, eog,upland, and celtique would have made any difference.

its easy to throw the word mismanagement about without adding any substance to it EDR are the operators of Wressle. If you want to attribute some blame to EOG board then you have to do the same for UJO, Upland, Celtique and also the consultants so that is 50 people. The problem is the UK planning regulations and the timescales involved. Its not necessarily a problem that applications may be refused or that they require further information but once you're into the planning process and appealing it takes ages, in all industries. We all make our own investment decisions but some decide to point the finger at others when things don't go their way but the reality is that they should take responsibility themselves for making an investment in a company and under estimating the nature of the beast that is UK onshore and associated planning.

Mini wressle drilled 2014 Kiln Lane drilled 2015

PVR SP going up recently but have a look at share price performance over last 5 years not bad management at PVR either it's just oil exploration

The Irish assets are exactly as Hugh has sold them and backed by erc equipoise. But pvrs Avalon prospect 12 billion potential eog 1 billion. Which one would you farm into first?

look on the bright side if we hadn't had the delays then europa could have drilled holmwood (before ukog drilled) aiming for the portland only and missed the kimmeridge like everyone else did. europa would then have had to spend more money getting the rig back up there!