Member Info for Serif

I think you have forgotten how slow they are at getting out any rns!

Or they are keeping as much good news as possible in reserve to help move the c250m shares that on past form will have gone to the usual placing companies who work on a quick 10-20% average before moving onto the next placing.

@GP. Think you estimates look pretty reasonable in terms of what we know at present. Only figure I would question is 65 bopd non-Wressle production. Not sure where this comes from, last figures I am aware of from last Oct were 75 bopd - which I thought looked low in terms of historic decline rates. So suspect you and Selfish are coming up with identical figures for EOG profit, which is healthy any way you look at it!

If the SP stays the same then we should have an MCap of £20m by Monday!

If

Interesting article stating some of the obvious points about Energy requirements in Ireland, that up to now have often been ignored or obscured. Good to see this type of discussion in the mainstream.
https://www.irishtimes.com/opinion/no-point-pretending-we-don-t-need-new-sources-of-fossil-fuels-1.4829689

Looks like we are coming back from the dead! Imagine we need to get everything formally signed and paid up before the accounts can go through and lift the suspension. Looks like the Moray Firth work that Baron is pursuing may have interested them as well.

7th March at the time VL gives! Agree re the site - a lesson in why to try to avoid engaging directly with rampers or dreamers however irritating their comments!

Did you see the email from MA on the UJO site re joining on to gas mains? If genuine suggests to me they are still looking at options. Seems an awful one time to decide when I was hoping they would have sorted this stage and moved on to publishing the next development stages while the mood is right in the country. It would be good to know what they are waiting for especially as I thought they had already told us they were going to install gas to power for the site at least.

Well I really hope he (McGrath - Irish Minister) is meeting with EOG too to discuss our projects especially after that reference to gas. I would recommend anyone interested in Inishkea has a listen to this link - including Simon/Brian!!!

Hi GP, any idea what information relevant to the gas flows they might still be waiting for before deciding what to do? They’ve known about this gas for almost 8 months, so I’m presuming it’s just not indecision!

Have just read this
https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511

Very worthy and idealistic but not sure how any of it helps the Irish energy dilemma - sharing pipeline flows across Europe, LNG deliveries, Gov reducing energy bills through windfalls on energy producers - it’s almost as if continental Europe has forgotten about their offshore partner. No pipelines, LNG unacceptable to Greens, Corrib depleting, little tax from energy producers - how will they keep their economy running and homes warm at affordable prices through talk of speeding up green hydrogen etc.. Did Ryan have any input to this paper? What’s the Irish plan?

Clearly can question whether EOG pitched the placing price too low in view of Wressle developments and massive oil price increases, creating unnecessary level of dilution for current shareholders. On other hand couldn’t have judged the timing of a North Sea farmin any better, so let’s hope that plays out as the more important factor for the SP over the course of 2022.

We already hold the Inishkea licence without challenge, but every step of further development, starting with the next step which is a survey of the potential drill sites, requires permits from Ryan’s department.

Are you sure VL? There are two separate versions of this interview - a 4 min one which is on the Europa and proactive sites, released at about 8.30am on Thursday and an 8 minute one on YouTube which seems to have appeared slightly later. They seem to be rerecordings not edits of the same interview as they use slightly different language throughout for instance in SImon’s first greeting. The YouTube interview is more informative and includes the reference to 3.5km out. No idea why we have 2 versions in circulation.

@Tacuma. Admire your self discipline. Lths deserve a bit of luck now and again. Nice to be able to sit back and see what unfolds now rather than constantly being under water.

Thanks, J. that’s excellent.

@VL - I3 look like a good outfit to me, so not questioning their ability, but I am just being pragmatic. Drilling slips especially in UK with all the various authorisations needed. Just trying to work out if we have timetable flexibility this year or whether it’s a cut off situation until next Spring. The asset will still be there waiting for us, just trying to workout realistic timeline expectations - September would be fantastic if we could make it, but if not, is it Oct etc or April?

@VL. Many thanks for posting this - I had watched the original interview but this seems to be an extended revamp also filmed on 3 March. Haven’t analysed in detail but seems to provide more helpful info and worth a watch.

Drill timetable is the question that springs to mind. “Hopefully Q3” he says. If this plays out like any other O&G project would be wise to expect some slippage. Anyone know if it would be feasible or desirable to drill in this part of North Sea in winter months?

@Wraith. Yes I remember your comments and caution at the time. You were absolutely right - good call.