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Now they have all visited West Firsby perhaps they can tell us the plan for improvement and how much extra production they are targeting? I think they have notionally raised money for these improvements twice over the past few years. Time to do something or stop talking about it - let’s move ahead this year at least on the projects that are within our control.

Licence technically runs until 31 Jan 2024 and I can’t imagine we would give it up before then -

“ the Minister has given his consent to extend the first phase of FEL 4/19 to 31 January 2024.”

However EOG clearly would like to get any farm out signed before then so that it’s not a last minute job and all the relevant paperwork can be submitted, so that Ryan can’t exploit some technicality to block progress.

Shows Ireland what it’s like to manage without any indigenous gas - which is how it will be if they don’t allow gas exploration to extend life of Corrib.

Haha! This is the extract from the Mayo News where the protestor mentions us

- She also demanded that Minister Ryan not facilitate Europa Oil & Gas’s plans to explore at the Inishkea gas prospect, which is located 11 kilometres from the Corrib gas field.

Full article is here - thanks to Tommy on the other board -

https://www.mayonews.ie/news/local-news/1242864/mary-robinson-and-eamon-ryan-heckled-at-ballina-climate-conference.html

So the protestors are clearly aware of the EOG option and take it seriously enough that they are worried that Ryan may give the go ahead!

Think EOG have done a good job in raising profile and opportunity of Inishkea - Irish climate protestors shouting about it last week, Irish politicians talking about it at this conference - all positive signs. Just need the Irish Gov to stop talking about their dire indigenous energy situation and start taking up the obvious options to start tackling the problem. If they ever get serious about it then imo we have to be in the mix.

There is also the gas to wire engine to come - had forgotten about this! Mark Abbot email today showing on UJO Twitter confirming that “we are well advanced with the procurement of a suitable gas to wire engine at Wressle.” That could potentially provide a near term significant boost to production, as gas volumes seem to be the main constraint.

Egdon deal voted through this morning (about 95% in favour), so now we can get on with taking Wressle into the next phase.

Should be an interesting week or two. Egdon vote on Monday which should seal the deal and confirm the underlying current value put on Wressle with its 2.6p read through to EOG - then all eyes turn to the new CPR presumably an upgrade on resources and perhaps new reservoirs to consider - swiftly followed (well they’ve had plenty of time to prepare!)) by planning application for 1-2 new Wressle wells targeted for end of year.

Presumably in some final draft form which the JV partners can then approve and sign off for publication after the vote on 3rd July. The important part of their getting this preview is that it should enable them to finalise decisions about drilling sequence and so get the planning request in pronto.

@Biggleswerf. Yes had thought about WA pound cost averaging, but you can’t sell anything like the shares WA has on a “small uplift” - just look at how a “small” 500k sale triggered the fall today - it becomes in effect illiquid. I suspect with increasing that scale of shareholding he would have to be looking for a massive sustained rise to sell into (still probably slow and painful disposal) or for someone to take the lot off him whether a buy out, ii buy in or whatever. So IMO he needs to be backing the share to become hot enough to attract this sort of interest if he is even to get the money back on his latest purchase - not to mention the 37m higher priced shares he already held! So I read it as a very strong positive indicator - while recognising of course that he too may have “got it wrong”!

Across the boards I’ve read claims that

- Wressle will/won’t move the needle

- Serenity will/won’t happen

- Ireland is a company maker/dead duck

- x will/won’t want to buy us out

As they all seem in with a shout - I don’t know who’s guessing right. Personally I’m hoping for the accumulator jackpot or failing that a Wressle triggered buy out end of this year, once last hope in Ireland is extinguished.

Well I don’t think it’s that common to retire from a Board and then throw a large pile of money at the company - unless you are expecting good things coming.

Yes - the 4.5 million buy on 7 June - which must have been his looking at the date of the TR1 -was made at 1.5p. Not sure if he may have added a few more at 1.55p on 8 June which is the day he is reported to have crossed the threshold.

Based on what Will said I suspect CPR will be released week following Egdon vote (3July). They won’t want to unsettle the vote with new information being released the week before. Be interesting if we pick up any hints earlier if the partners are actually seeing the report beforehand - this week or next.

Link to today’s webinar at which Will spoke. Thanks to Tommy on the other board

https://vimeo.com/836534810/8612e96da0

Well it could easily be one of our best years thanks in part to the golden workhorse that is Wressle. But as always we will be dependent to a large extent on others - notably North Lincs planning committee and the Irish Gov to release the full potential. Still our new management seem to be making a decent fist of things at present, as long as they can stay away for a few more months from any new “do or die” deals!

New CPR for Wressle, which from summary of what Will said at last meeting should go to partners probably next week and be made public a couple of weeks later (presumably after Egdon vote on 3 July). Then same time or soon after should come the development plans for drilling extra wells at Wressle end of this year (in theory). And before Inishkea announcement we are also likely (fingers crossed) to hear about a deal on Serenity with Repsol.

Good - based on some of the local newspaper articles posted recently, Brian’s being doing the rounds to stir up some grassroots disquiet about Ireland’s lack of action on Energy needs. Hope it pays dividends, raising the political cost of not taking on Ryan more directly.

@itsawrap. Wonder if the reporting of the revenues by Egdon is in chunks which does not fit neatly with the UJO million dollar thresholds - so maybe May’s “in excess” was a lot more above the threshold than this months? May was perhaps a longer than expected reporting time lapse. Either way it’s good money in the bank!

Latest progress report appeared on site:

https://uplandres.com/wp-content/uploads/2023/06/Monthly-Progress-Report-for-Shareholders-Ending-31May2023-V.2.pdf

Also tweet today suggesting they are well ahead of schedule in starting the conceptual field development plan

https://twitter.com/Uplandtweets