Member Info for Serif

Suspect it’s more about politics than geology - a way to outlast Ryan - he could grant an extension without causing too much complaint in his party - so he keeps himself pure, but Ireland doesn’t write off its only hope for indigenous gas and energy security for some narrow ideology - a compromise that other coalition partners could live with?

Not sure why we would want to swap our share of a proven valuable producer to increase our exposure/risk to an as yet unproved producer without even local planning permissions in place! Shared risk is best option at this stage.

If it’s news that’s great. If not, it’s still good that he’s out there doing some PR and talking to shareholders. Unlike some, his presentations attract some positive views on EOG.

Done so in the past with presentation link.

He’s even managed to completely mess up the renewables! If the Irish Gov felt any responsibility for providing affordable, low carbon, secure energy for its citizens over the next 10 years or so, they would sack Ryan now.

Looks like everyone involved in the study on SK334 is now taking up their options!

That’s interesting - what’s he going to be talking about - Wressle outcome, Ireland or Cloughton?

This is what the UJO tweet says about it

“As per the RNS, the work programme includes recompleting the well for the installation of a downhole jet pump and the siting of associated surface equipment. A workover rig is required for this.”

Picture on UJO Twitter of Wressle workover rig in place yesterday - presumably should mean news very soon of jet pump installation.

There’s always options, but best outcome for shareholders if they can’t farm out Ireland would be takeover/merger - with Wressle and other producing assets there is much more value here than reflected in current SP. Other routes - eg developing new assets might still be very profitable but would take years to monetise - anyone here want to wait another 5 years for that opportunity?

Agreed. If they can’t farm out Ireland I don’t see what unique expertise or assets they bring to the table, so can see no argument against a merger/takeover being the most sensible way forward.in that scenario.

Yes DNO took back the licence in order to surrender it as they got tired of paying the licence fee and Ryan was simply not signing off the transfer of the licence to EOG. All pre Ukrainian war of course.

Re 1 in 3 for Inishkea - this is the standard drilling risk on any such prospects - roll in the commercial and tax benefits of the project then if we can get the required political backing, it will get the farm in.

I agree farm out news would be great, but I suspect it may be dependent on the date of the Irish Gov energy security review and what is said then to reassure any companies that they will actually be allowed to get on and drill the licence.

In the short term hoping that positive news from Wressle - jet pump, production rates, CPR and future drilling plans - will give us a lift.

Should get news on the jet pump installation and production rates next week IF Egdon have managed to keep close to the “about 3 weeks” guidance issued on 31 August.

These chunky trades must be delayed buys as there seems virtually no stock about even at the increased Ask price.

Just seem a trade go through for almost 5m shares. Based on the trade price of 1.20 looks like a sell, but based on the SP movement (and strengthening Ask) looks more like a buy. Anyone any ideas?

I’m not! Just noting that Vermillion got their work on Corrib done 5 days early - wouldn’t it be nice if Egdon could do something on schedule! Would love to see Wressle production back on line this week with OP so strong - but next week more likely based on guidance - although Egdon have this nasty habit of slipping timescales and not telling anyone.

Any chance Egdon could complete out maintenance at Wressle 5 days early?!

Agreed - and getting this Thomas Nyanat on board straight from Petros looks very promising

https://www.google.co.uk/search?q=thomas+nyanat+petros&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari

It’s the difference between what’s possible (pretty much anything) and what’s probable.