Member Info for Serif

@Aimshame. Spot on. He says he is looking for a farmin in 12 months - so we can judge. What we need to avoid is a never ending cost creep of Morocco. Either a major gets interested or they don’t. $3m won’t break the company, but endless reprocessing will drain it with no likely return.

G - can’t believe there is any lth here who isnt sitting on a loss. But either we think on balance the SP is going to go up - so we hold or we think it’s going to go down - so we sell to preserve what little is left. What other options are there?

Accept we’ve heard it all before and should remain questioning- but there were going to get criticised here whatever they did. Have a watch of the video - at least we can say their marketing has got a lot better than before.

Seems the SP has ticked up - which is a bit of a surprise on what seems a largely unknown prospect.

I think a lot of people would agree that there is no point in looking for value in new prospects in UK or Ireland with Gov positions.

@Bobbybee. Thanks for info. I know nothing about EG, so will need to read up to understand if it’s a good prospect or not. Can’t see a 30% spread on SP encouraging any buying even if people knew anything about the area!

GP - I think the 850 is a red herring, as I see WH has confirmed it was just a mis-speak for 680.

Correct - the SP is unchanged.

GP - presumably if they are using Crosby Warren for water disposal (and paying for this) that should more than cover the albeit marginal costs of extra water production for EOG?

EOG unchanged from yesterdays close - it’s a technical adjustment because of an after hours buy.

Personally I prefer the more unvarnished truth rather being constantly spun a line. What PR were you looking for?

So all going well at Wressle 1. 680 bopd achieved after only 4 days of incremental increases, because of EIA limitations until 14 Dec (why didn’t Egdon reveal that before?). Should presumably be able to go back into 700s as before, although some caution re best end flowrate figure for well - less so in UJO rns which reads more bullish. CPR now being finalised for early Jan - finally!

Fwiw Egdon told Broughton Town Council that detailed planning documents were being submitted in January 2024.

That’s clearly the most important factor for the business, trouble is that’s in Ryan’s control at present - and they are clearing lobbying hard but he holds the cards on progress…. They ARE in total control of reward and shareholder relations so can take action on that now.

I agree they should act now and coherently (see below), but I also think memories/behaviour on AIM is very short term, so one bit of excitement and suddenly people change their minds at the prospect of making some quick money.

If it was me I would:

1 - work with UJO to force Egdon to report back better or lose operatorship

2. Buy a big chunk on release of CPR

3. Appoint new Non-Exec commissioned with first task to report in 3 months having consulted with shareholders on ways to better structure reward to relate more clearly (in part at least) to SP performance.

Can’t see what they would have to lose from such an approach - and it would be a first step to winning back broader shareholder support.

Share price here is clearly heavily sentiment driven for all the reasons and more that people have been talking about. In my experience sentiment will change - may be not this week/month - but for one reason or another eventually it will - and then people will look at the SP/assets/cash and react accordingly.

Some don’t loan out shares and some others allow you to elect not to have your shares loaned out. Might be worth checking with your platform/broker what their policy is on this?

Odd I can get offers on selling as much as I want online.

True - unless there is positive news on Wressle, Ireland or even Cloughton and West Africa.

@itsawrap. Interesting! Do you know when the RBD EGM is scheduled? Could be one to watch in terms of how it plays out as clearly similar dissatisfaction - it seems we are not alone in Directors taking reward without the risk experienced by shareholders.