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Seems to be some interest this morning and it’s bounced back already.

Pretty much everything was down today across the board, EOG was no different from most the rest. Think there is plenty of interest, but today was more of a market panic than buying day!

Drill could be as little as just over 2 months away. Great opportunity for EOG team to explain more about the appraisal and build on wider interest and attention - and say how they are going to use the Wressle cash surplus over coming months. Hope they record the session or at least share any presentations on the website for those of us who are not free to attend. Seem to be a lot of people watching this share at present trying to judge when to move. Could be an interesting couple of weeks if they can pitch this right.

Late reported sells of an extra 8.75million shares yesterday -presumably a big clear out of remaining placing shares. No wonder it was a bit quieter today!

A really helpful and timely brokers note. Recommend all investors and potential investors have a read as it lays out EOGs assets, opportunities and risks as clearly as I have seen anywhere. I am sure we will get more on the Serenity appraisal next week with the investor meeting, but this note begins to spell out clearly the potential value of the asset whether the appraisal drill has a positive or negative outcome. Also projected revenue flows from current onshore assets really do seem to earn the title of “transformational” for the company’s finances over the coming years!

Yes that’s a relief! Definitely now need to show something concrete in terms of Tunisia or Sarawak - or preferably both!

Looks like there still a few with placing shares to sell. Seems to be almost 10m late reported sells from last week and another 4m in chunky (250k plus) sells today with presumably some more late reports to appear tomorrow. With current pace of buying seems unlikely to last long and the SP already looks more sensitive to any significant run of buys.

Basically just a recap of the 3 RNSs that came out this week. Like the reference to the changes in advisers being a move “to sharpen up the organisation” for the next phase. Let’s hope we feel the benefit!

Much stronger afternoon for the SP, with almost all buying in terms of printed trades (ignoring lse mid price attribution). Expect more large trades from today to appear tomorrow evening, which probably stopped the SP rising this morning. Two months since the placing, must be over a billion traded in that time, are we now finally shaking off the placing and starting to move up on buys?

Mark Abbot email clarifying the access order to the 3 reservoirs.
https://twitter.com/Heid_oil/status/1531183114344595456/photo/1

Great to see that the Serenity drill is lining up to happen on the promised schedule.

GP can you see an credible alternatives to a pipeline? With the other reservoirs to be brought on line being apparently more gassy, what else could work for them? I would hope they have already started the process of applying for permits, I can’t think why they wouldn’t as there seems no real loss in applying even if they later changed course for some reason.

Not a tax expert but presuming the 91% investment relief would be a lot more beneficial financially to EOG than any proposed extra tax levy on the kind of profits we might make on Wressle?

Surely it’s just the impact of the 390 million new shares. Must be all but gone through now, but seeing the money Egdon have accumulated it is very frustrating that our Board didn’t try to lessen the full dilution for Serenity by using revenue more actively. Maybe if someone can make the pub event they might ask them what has been the advantage of not doing so for shareholders?

No problem GP! Hopefully the FDP will reveal more, but like you I suspect they may want to time the Wingfield for the new gas link to avoid increasing excess gas. Presumably as we will then get paid for the gas we may end up with another worthwhile revenue stream, so Wressle income just looks better and better! On timing they they have said for winter - it’s a target and there is practical advantage in achieving it, so let’s see how they do. They will have had some 16 months by then between knowing of this nice problem to have and developing a solution to it!

Let’s not overlook the Wingfield Flags which although comparatively small are easily accessible and could add some extra bopd without addition wells etc. Suspect they may be waiting for gas issue to be resolved rather than risk adding to the gas levels at present, but the WFs did get a mention recently by either Simon or DB (can’t remember which).

Mtfw - I suspect they will be getting interest on any funds in the bank. There are various ways of lending money out short term to get a return that FDs routinely use. Should show up in the next accounts, but still unlikely to be a big figure in the scale of the overall revenue being provided by Wressle - which is clearly still performing well beyond any expectations. I don’t think we will really know the true size of the prize we have got until the GC report emerges, but from what’s been said to date it looks like it’s going to be worth waiting for!

Seems to be a persistent level of background buying here. Been a couple of chunk buys pushing up the SP since sometime last week.

Your being overly harsh, it was actually a big time buy of £1.98 for 87 shares. Someone’s clearly starting to take a position via one of the freebie trading apps.

Or unless the Wressle reservoirs and reserves report commissioned by UJO from GC shows a lot more oil and gas available than previously predicted.