Member Info for Serif

Figures now updated here at least. But seems they haven’t yet worked out how to change the intraday graph retrospectively.

Small uptick on the day it seems based on closing prices - although none of the systems seem to acknowledge it. A bit surprised that LSE computers can’t work out the mid-price between 2 figures!

MMs appear to keep fiddling with the ask price - eg just gone up again to 2.95 and don’t show any changes to the SP level - not seen this before, maybe some ongoing computer glitch today? But they are charging the higher amount for smaller buys, so seems wrong.

LP - Agree would much prefer to see us delivering BOPD rather than MoUs! But we never have precise knowledge to go on about the negotiations/politics, so imv we have to rely on those closest to signpost what’s happening (rather than BB commentators). So either Marc Bruner has lost his marbles or he really likes what he sees (and presumably doesn’t think it’s BS). Equally the UPL team must either enjoy throwing away large amounts of their own cash or they can see real value coming down the tracks and are pretty confident that the SP will respond accordingly. Of course they could all be wrong, but that as always is hard to call.

LP - they’re coming but it’s on the timescales of the awarding countries not in UPLs hands. In the meantime it looks like some as always are trying to exploit the wait and deliberately ignore the potential that has been built up by the developments reported this year - progress that have persuaded members of the management team (and not just the super rich) to put their own money on the line at a in sizeable chunks at a higher SP.

So my best guess on timescales:

Indonesia other opportunity - any time soon based on last rns on this

Sarawak - High Court date 16th March - let’s see if this clears any paths

Brunei - the bid for the shallow water licence was submitted in Jan - so hope to hear something in H1?

- the UPL “expression of interest” on the land based adjoining licence to SK 334, totally dependent on whether we can get Brunei really involved in the potential - all the corporate stuff that UPL have been chewing through should help with the company profile here.

Waiting always the worst part - but imv UPL look a lot stronger and more credible as a company bidding for these licences now than they did, say, a year ago. Get just one and these SP levels will be history - and now we’ve got the funding streams and expertise to get the job done.

I am well pre Wick too - no problem with a share that has 15 bagged from its low of 0.2 building a stronger base. But then I don’t have a lower “technical target” to push for.

It’s steady progress - just what many who are lths and not traders are looking for.

Thanks, Only, it was an unpleasant experience to be excluded. I am still hopeful though that we will all get a chance to join in once the “institutions” start to sell off the bulk of their 300m shares!

Over the past year the company has grown, hugely broadened its capability, gained access to new funding streams, significantly increased its share price, had management and staff invest heavily in its shares (most recently at 3.5p) and progressed opportunities of different types across the region. There is every indication that it will continue to progress at its pace rather than “having to deliver a psc next week” to meet someone’s short term needs.

Technically it could fall or rise to any point.

It’s turning into quite an epic long v short struggle this week!

15.5m reported trades: 13m buys, 2.5m sells. Clearly a nasty surprise for some.

Suggest that anyone who was unable to apply for shares in the recent raise email their formal objection to the use of the Wrap to EOG, as unlike the institutional placing it treats them unequally to other current shareholders, and so bundling them together in one resolution is also inappropriate. This won’t damage the company in opposing the AGM vote, but will prevent the company claiming that all shareholders have acquiesced in this differential treatment and consider more carefully should they wish to use such an approach for any future placing or other financial arrangement.

So SP has been rising recently to meet the placing price despite seller, that’s the opposite to normal. Couldn’t get a bigger sign of confidence than this level of internal support for the placing. Be fascinating to get updated holder percentages to see whose up and whose down.

Are you on Twitter/x?

How would we message you Gerry? Messaging on lse is a premium service.

Thanks Gerry for sharing this. I accept that they can make a case re costs for foreign investors but not domestic investors. The Wrap offering simply wasn’t good enough in connecting with enough holders platforms. Winterflood do not in practice seem to have relationships with several of the mainstream platforms, despite what their website appears to show. But from this response we should presume that EOG will continue to use this method, so creating a permanent “B” class of share. It doesn’t work for me that I will now be disadvantaged by every corporate event. So I hope the drill in EG is an absolute blinder - and all the lths still here will be able to achieve all their financial goals after so many years of suffering! Good luck.

It’s not a question it’s a fact. And I’m wondering if Eog will now have to insert something in their share prospects to warn potential buyers that depending on the brokers/platform they use or their country of residence they may not be entitled to share along with other retail shareholders in any offerings made by the company to the market. The FCA is usually pretty hot on buyers being given full terms and conditions at the point of sale - even if most people dont read them. I certainly get similar warnings come up on my platform when I have looked at international transactions.

The GM has only one resolution covering all the placing and retail offering elements - so I will support it and place myself in the newly created second class of share ownership, which is entitled to share equally in the risks but not in the opportunities or benefits that the company may offer to the market. A bit like investing in a company on the North American exchanges - something I have always avoided because of the additional and unpredictable disadvantages. I guess other members of the new second class shareholding category may also be weighing up the attractiveness of such an offering.

No I think we just have to commit to drill by then. This is now all a bit historic as the farmout once approved takes us into the next sub-phase.