Member Info for Serif

All the traders will have sold out by then so it would be down largely to Lths - 1.5p is not going to make them say wow go ahead with a placings at 1.30p. Mood of shareholders has changed and we are used to saying No to this Board - it would take something nearer 3p to convince me that they should get permission to chase the next dream!

“subject to an SR” - that’s technically correct, but do you really see them getting a 75% positive vote for this - there are plenty of holders here who won’t give them that permission until the SP is a lot higher and closer to their averages (and look what just happened to UJOs attempt to get a positive vote for warrants) - so unless they deliver well beyond our expectations they are going to have to manage without placings for the foreseeable future.

Perhaps we should drop the placings talk for now - you can’t legally raise below nominal - so the SP first has to reach 1p then presumably stay stable at 1.20 to allow for a discount to get it all away. Then they need to hold an EGM to get the last Agm vote overturned - so it’s just not on the cards atm.

Isn’t it a 4 year licence with just a drill or drop decision this October? Suspect they may still apply for an extension just in case this stage of negotiations drags on, but if we get the farm out signed before then, an extension won’t be necessary. EG will be as desperate as Eog to get this licence drilled so can’t see an extension if needed being an issue.

That was the only statutory objection I think - so it can presumably now go to planning and we will see whether the councillors follow the law or the anti oil and gas (let’s import it all instead) lobby.

If the oil companies trusted what your FD contact said then I would have expected some movement by Vermillion re their current assets - but nothing doing. I don’t care whether they send the signal publically, privately or by Masonic handshake, but lack of movement on anything (“deep Corrib, Prd, Inishkea) tells me they haven’t yet. It’s probably in the “more likely to lose votes than win them” tray atm, until jobs start to go cos of lack of power.

Irish Gov need to signal that they will support development of Inishkea for Corrib - or no one will farm in because last admin deliberately stalled permits preventing any development even while saying they respected the law on licences like ours.

Can I suggest we use this thread to counteract the regular misleading posts on here - which will no doubt continue? Have copied your last post smkr as it briefly provides the relevant info and reference for anyone seriously interested:

They failed the special resolution in 2024 AGM to get authority to raise, and nominal is 1p. currently can’t raise below that without a general meeting and a vote to lower it, which is likely to voted against going by 2024 AGM. So.. it’s over 1p we go at some point.

29th November 24 RNS :

the special resolutions (the "Special Resolutions") set forth in the Notice did not achieve the required 75% vote to pass.

I can’t see why not, Biggleswerf - Eog completing the work essentially as a “friendly contractor” should not affect in any way Eog position as a shareholder to receive their portion of any back costs paid. Would be nice to get paid twice for the work!

Flombo - Polus had decreased it further by June (see Eog website). Looks to me that Polus had decided to sell down on year end review, which is why I expect them to sell on out. But as you say they may not and could decide to ride with Eog now. Some confusion on the Board between BGF who have sold out with reason given and Polus who we don’t know about yet.

Just looked back at original EG rns does - say backed by “many of our IIs - struck me as an odd statement at the time and this development may explain it.

VL - I would see it as a sign that they think it is now very likely to happen and don’t want to be seen as investors in EG projects at the point of signing. Up to now they could have rightly classified it as talk no commitment. Tbh I suspect they wanted out of O&G and any excuse would do. I still think more have been sold than by these guys and will be interested to see if we get anything from Polus - I’ve lost track but haven’t we had about 300m shares traded, so enough turn over for them both to go.

You might want to look at results of last AGM votes re your placings concerns - they lost the vote on these. As for preceding with Inishkea alone - it’s simply not a credible option for multiple reasons, not least that by law they would have to have some $50m cash in hand to show the Gov first - that would be some EG deal to get that!

If the big seller yesterday was Polus then the volume we seem likely to get today should see them out. They held 44m in June and were selling down, so probably close to 40 m when this news broke. Some 30m dumped yesterday in large trades and more on Monday - so could be there or almost there.

If you have some evidence to support these serious allegations could you share it - because we all might to take action? I agree with you that integrity is important.

Looks like over 10% of the company traded in last 2 days - been needing this clear out for sometime - losing those who were determined to sell for months and gaining new investors because something might actually be happening now. Be interesting to see if we get any notifications from our past sellers - e.g. WA or Polus.

WH has bought after every rns news announcement - it is what PIs look for to show confidence in what has happened - seems odd to say that it is now shady - what would posters be saying if directors didn’t buy after a positive announcement.

Sounds to me that they just can’t win with some. You could say that it proves there is no placing in the offing (even if they were allowed to do one) because this would then be insider dealing?

There’s a vast imbalance between declared buys and sells over past 2 days, so hopefully some of our legacy sellers have finally taken the opportunity to go rather than selling off piecemeal and constantly depressing the price.

Good news, followed by Director buy and high volume - looking a lot more positive here.