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You’re right, if none of their ventures come off they will eventually run out of money. But that applies to any business. None of us can see round the corner - you were predicting disaster outs things for ujo just before the SP turned around unexpectedly.
I guess there are companies around that do something like that. But if eog changed to this, you would then need to hunt around for another high risk/high reward type company to replace it to keep the portfolio range.
Me too. Like the approach of the new CFO who seems to me to have steadily undone the mess left by the last one over the past year. Now on a more secure basis and seems to me to be taking a conservative approach, so more likely to surprise the market to the upside over the next year. Plus not many places where I can get this kind of dividend!
Exactly, Brezhnef. And if you are a high risk/high reward exploration company why would you change strategy to become something else when there are already other business with experience occupying that space. It makes no logical business sense.
@B. Thanks for reporting back. Seems a decent, clear response. Perhaps we can now cross off “lack of responsiveness” from his list of failings!?
Seems a good number that we are getting some of our money back from doing work on the licence - every penny counts.
Still all of no use if they can’t farm it out - and soon. We need a significant event to break free of whoever is selling off whenever anyone dares to buy a few more.
@B. I would be disappointed if that was so and it wasn’t going back to eog -as I noticed that Antler were paying eog for any work they did on processing the data etc. May be worth giving them more than a couple of days to respond before making that assumption?
Think WH is pretty good at responding. Only address I have is the standard one mail@europaoil.com - maybe Itsawrap has a better one as I think he asked a question on flowrates today and got an answer pretty much at once.
@Biggleswerf. As I understand it he’s a Director of Antler as the EOG representative, not as a private individual - so very much doubt he gets a separate salary for this. But you could always ask eog directly - I am sure they will tell you - and if they won’t that would probably answer your question as well!
An explanation from Corporate Governance Rules as WH said (whether we like it or not)
“The board should be of an appropriate size. At least half the members of the board, excluding the chairman, should be independent non-executive directors. To ensure that power and information are not concentrated in one or two individuals, there should also be a strong executive representation on the board.”
What I find frustrating is we seem to be talking more about internal admin arrangements than progress made on assets - which should be the main focus at this time.