Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Great to have the feedback from everyone who attended. Many thanks for that. I get a sense of Dave being a very straight down the middle type of individual and had that since I started holding Keras probably three years ago now. I wish I had the means to increase my holding. (If wishes were fishes the sea would be full - as a friend once told me!). Looking forward to the future news flow.
... not really clear to me! The presentation has been flagged up in recent interviews discussing Ireland offshore. Not impressed that talks about a farm out with a major now celebrate a first birthday. The same story is being repeated over and over and yet nothing gets over the line to give this share any substantive added value. I realise that Hugh and others on the board are vested in this share too but they really do need to get a result pretty soon. Oh well there is always Wressle. Very frustrating as investments go. Does anyone agree?
I get the feeling that patience will be rewarded with this share. The recent interview video on Proactive Investors showed the ambition that Sir Martin has for the company. I just hope he can keep up the breakneck speed of growth and find more companies suitable acquisition/ merger. Just my own views.
Normalguy, when asked in the past Malcy has said he has been unable to get access to the UKOG board to have a chance to discuss and assess the company by means of an interview. Hence his lack of comments. Regards, Seedcorn
If no news is good news then perhaps I could be a little excited about this share? After all the hype of previous years the silence from the Sound board is so uncharacteristic that it makes me feel uneasy. If I am not mistaken we still have a target for some sort of LE outcome information prior to Christmas. If not I feel it would poor form if we do not get some sort of update to let us know what, if anything, is going on? I have seen comments here and elsewhere about James & Co being involved with NUOG. If that is the case then I am concerned their energies are diluted where Sound is concerned. For goodness sake we need this share to make good before the board start playing around with other distractions. Does anyone agree?
Heidelberg I can only agree with you. The BOD are just not delivering tangible value for investors. In fact they are too wrapped up in their own world of technical analysis to see what is going on elsewhere and so miss the political and economic consequences that impact on the very value enhancing opportunities they hope to take advantage of. If only they could get one, yes just one, project over the line then we might see some positive response in the share price. I am not holding my breath.
The debates on this subject in the Irish parliament were well covered. It is worrying that EOG is only now seeking clarification. I am quite concerned with the disconnect between the board of this company and the concept that they need to work in and with the real world that shareholders inhabit. To only now seek to clarify the economic potential for their flagship asset whilst trying to get a farm-in seems to me to be rather odd? Maybe I am not being fair? Just my view.
Hi Serif, I saw the video and tried to put a comment earlier but there was a system blip and it would not post. I notice their intention to make a different type of acquisition next time round. Thank goodness! It is fine they gain new license allocations but the risk factor is too high if they are all like that and the practical outcomes almost out of reach. Yes, comment on the part of portfolio we all want to hear about was lacking. That news is much needed I believe. GLA
Tovoc, I like the way you sum up the situation. Looking at the Company strategy shown on their website it says in the first paragraph: 'Europa's objective is to create a significant liquidity event for its shareholders through a successful drill up of its high impact exploration portfolio in Atlantic Ireland and discovery of oil and gas.'
Well, let's hope they do. The ultimate proof of the back-room work is the action with the drill bit. Getting to that point is proving the hard part. GLA
The RNS has not shifted the share price so I wonder how widely it was read? It is great Europa has been awarded the licence but two (more) years of waiting is not going to add to the value of the share .... merely soak up valuable cash resources in salaries, and there will be a further two years before getting to something like a drilling prospect status. While this new prospect is underwater, so is my holding! Acquisitions I would expect to add value. So far the market has not acknowledged that in this case. After the SOU experience (yes, I am in there too - underwater in the middle of the desert!) my faith in yet another Morocco prospect is somewhat lacking. So let's have an interview Hugh. Look into the camera and convince us why it is worth sticking around for this one? While you are at it please update us on the news about the Irish Sea prospects, how the farm-in is progressing and when can we see some outcomes that will beneficially impact the share price with added value. Oh, and yes we must not forget the Wressle outcome too. GLA.
Many thanks to you Tacuma, Crushcutfluor and Dunderhead for your considered replies. I take the points made and agree that a big company approach does not always cut it in a very small entrepreneurial company environment. It is good to have ideas and opportunities and all the brain power to identify what 'could be', The main thrust of a small company can only really benefit from all of that if things are not over-thought and there is a real hunger to get them over the line. PEDL 143 at Holmwood comes to mind. There was so much dithering about that project. It was obvious the site selected was problematic in terms of vehicle access down tree-lined country roads and naturally objections abounded. Nothing concrete was done to resolve the approach from EOG as far as I could see and yet they were the operators. No dynamism, drive or real practical interest and consequently a hasty retreat ensued. When I have seen Hugh being interviewed he has mentioned knowing where the Irish potential farm-ins are, in terms of the processes within large company showing interest. I don't get a feeling of him really going after the prize and I feel he could put pressure on them if the potential is as good as he believes, especially after such a long delay. Indeed if the potential is that good then we should have a queue outside the data room door! Either we have something that really is going to capture the imagination of the big boys, or we have not. If it is the latter then let's move on but the objective for all involved is creating value, asap surely? The CEO does I notice have some skin in the game (5,700,000 shares), so I guess he may have some interest in a positive outcome, and he was able to convince institutions to invest their money too . In the meantime politicians in Ireland recently completed a very useful debate about their energy needs in future. It would be excellent if EOG could be central to resolving that issue when it comes to their gas supply. I won't hold my breath although I shall continue to hold my shares for now ....... but not indefinitely! Good luck all. Regards, Seedcorn.
I notice comments of disappointment with this share and can only agree. The BOD appears to have good intent but are unable to deliver anything in over two years I have held the share. During that time I have averaged down but it would be nice to see some sort of concerted uplift in expectations for shareholders. About the only thing that is likely to change in the near future is a positive result from the Wressle planning issue and I think EOG and others were unlucky with that long delayed situation. However, exploration needs the backroom activities that follow on from seismic to convert into actual physical work i.e. action with a drill bit and there is absolutely no sign of that for the Irish possibilities ..... or is there? ....... Unless of course we get an rns on Monday morning? An individual view and choice but holding and hoping for me is not really a strategy that works right now. Before I decide to move on can anyone suggest where we may see some significant changes to the current situation please?
A fully justified rant Tacoma! We are so good at putting obstacles in our own way and a lot is due to the pandering to minority interests instead of just getting on with things. Our planning system is a good example. Whilst we do need a local input, the well meaning dithering of totally unqualified individuals often politically driven, using unwieldy processes seems to work against business usually at great expense. I suppose that is democracy for you! Not withstanding this somehow we have a great economy driven by fantastic entrepreneurs. Yet I’m sure it could be even better. Britain first sounds to me like a good starting point for progressing.
Fred that is a very nice idea. I wonder what the quality of gas would need to be for the generator sets to run from? Perhaps it would require the generator feed gas to be 'dry' i.e. at a certain hydrocarbon dew point first, and any contaminants scrubbed out. Also if the intention is to maximise the amount of gas produced then how many generator sets would be required. What about environmental impact too from the exhaust gases? That might take more environmental assessments and planning complications. I think the volume of produced gas expected is around 5mmscf/d and (they hope) rising if possible. The maintenance and operating costs would escalate with more complex machinery than they currently plan for and presumably the bottom line would be impacted by higher overheads. Perhaps the gain would come from a higher product price? I am all for maximising the opportunities here but would prefer the board to keep things simple. The less complicated the better where Angus is concerned. I do take your point however and maybe it is another option.
I am all for making a rational transition to renewables but I just cannot believe millions of houses, factories, offices etc. are going to make the change from gas to electricity in just ten years. It will require massive incentives and investment at the stroke of a pen. Perhaps I will continue to put off having a smart meter installed for my gas consumption and save the fitters time fitting it then removing it in a couple of years time.
Towards the end of the call, when discussing the intention to try to accelerate gas production at the new gas plant set-up an aside comment was made about there being only about a ten year window for gas production in the UK. Did I hear that correctly? Is that a firm government policy. I know they don't want any more gas boilers fitted in new houses in a few years time and imaging electricity will be the preferred option. We may be able to do without coal almost now but gas in just 10 years? Thoughts anyone?