Member Info for Serif

Isn’t this the annex from the old Ryan paper of 2023/4 - where they wee told to rule out gas exploration in the Tors but still noted the potential benefits - even if they had to recommend against. It does look hard to argue now against allowing current - especially already advanced - exploration to continue, although without opening up the area to new licences this will limit the field of those likely to be interested.

Maybe - but it’s a pretty ridiculous article amounting to squat! Really must be desperate for material to fill their pages.

Probably outrageous thought for here - but it is always possible that Bo has done nothing as yet on costs because he thinks EOG can get the farmouts, so is 100% focused on these. As an entrepreneur he may prioritise growing the company over cost cutting which in the end only enables the company to go down the pan more slowly!

@Aimshame - if Bo was so rich he didn’t care why bother to take on the Chairmanship of the company at his age? Whether he has the ability to turn it around - which is more than just firing x or y - probably still depends on one of the farmins happening to give him something to work with.

I guess the option that you don’t mention is that however much we complain (and I agree it’s pretty pointless) we still think there is a greater than 50% chance that it will improve or logically we would have sold out - why would we stay invested believing we were bound to lose more money.

Or Bo helps him make that decision. Every time I get frustrated when the SP drops 0.05p I tell myself that Bo has just “lost” another 30k, so he won’t want this performance to continue if WH can’t deliver by the summer. I still hope (as I guess most of us do) that he does deliver - but a few positive noise would help - at least an update on Irish Gov discussions/policy can’t be that sensitive?

Were they shut down at New Year for a couple of days as well as Xmas? So perhaps still around 300bood? I guess Feb figures will confirm. Looks like Crosby Warren has gone back up to 10bood - was down to 5 in Dec.

I imagine EG might be only too happy to extend the licence, but why would we want to if we can’t farm it out this year. Re Ireland surely either the Irish Gov will decide to go for own gas this year or it’s just not going to happen bar major world developments - so why would we be talking to Irish Gov about more extensions, especially 10 months out?

Love the large banner on the building behind the marchers in the picture which says “Annual pantomime”!

All the articles whatever their slant seem to give good coverage to Europa’s counter-points - so they seem to have done a reasonable job in getting info out there. Not that the “frack free” community will be listening to facts or reasoned arguments.

2 million buy £15k - now someone’s getting serious.

We seem to be going down then up for no obvious reasons today.

VL - look on the bright side (as I’m sure you will!) if comments on the BB don’t affect the SP then you can’t be a “pump and dump merchant”.

Good observation on EG shallow water/infrastructure combination.

@Stokie - they have clearly tried to reduce costs, but are not going far enough fast enough - expenditure should not exceed income - and if they don’t get that right then a farm out only temporarily disguises the problem. Its not bashing to flag this up, although its curious how even small SP rises often seem to stir up negative sentiments - may be it just reminds everyone how low the SP has gone.

Still waiting for the pump bit! 😂

I see Polus have woken up! It’s a pain but not a surprise as I expect they want to sell down as much as they can this FY. Probably take an EG farm out to get rid of them finally I suspect. In the meantime they will likely keep the SP depressed.

And miss out on the prospect you want because another company in the data room goes for it? Not sure of legalities of taking this risk in any case - they were building in caveats to those seeking to enter the data room. Personally a bit relieved today to see ok results, positive noises around our two farm out prospects and the SP rising for a change!

Hi Joyride - It’s a commitment to drill by end of second year - so we get a farmin partner by October and we meet the conditions for next 2 years.This is relevant extract from EG rns: “the initial two-year term of the licence does not require the drilling of a well”.

They were pretty active lobbying the last Gov and not sure that got a big write up - I think it’s just what you do in any business which requires Gov approvals.

Joyride - why do you think they are not engaging with Irish Gov? Would seem strange to stop - have you read something to suggest this?

Yes Itsawrap that’s exactly what they say in the interims! With the rider that they have reduced costs so presumably have cover for the work for the year unless Wressle gets started and there are no farmins. Can’t see Wressle getting going before end of year, so we should know EG and Ireland by then.