Member Info for Serif

Finally removed this mornings 250k cap on buys.

Can be frustrating that this share moves at times very fast on what appears to be little trading. Hard to know what larger trades may be going on in the background. Just look what happened in 30 mins on Monday.

@Tovoc - but no longer looks an impossible target!

@Brezhnev. I agree - not only are Predator a better source of info on Ireland than here (which is a bit odd when you consider our assets!), also feeling a lot more optimistic about eog becoming an active company this year. Post placing I was prepared for a painful 3 months as we cleared the overhang, but the trading volume over the last couple of weeks has been so good that we now we can perhaps shake it off with one piece of solid good news. Then we will be placing free, revenue rich and with no obvious ceilings on our SP when we make further progress.

@copperpot. I doubt there will be many wanting to sell now that we are so close to a Sarawak decision which will be a whole new platform for the company. From the Petros timetable we are now in an evaluation/clarification stage but suspect this will not take long (if required much at all) as they plan to award licences and then get formal signings completed by April. Could be announced any day - I think there are all sorts of political reasons why Sarawak want this to be a quick success.

Just seen the rise here - quite amazing after 2 quiet years!

Yes there is news due potentially on 2 items. Potentially huge Tunisian asset recently readied for farmout - so could be development on this. But perhaps most likely news trigger is first Sarawakian licence round bidding closed today - this has always been the primary goal of the company but it has long been delayed by Malaysian politics, although the path has cleared recently. UPL very well connected in the area to win one of these licences.

Some week for sleepy EOG! Trying to make sense of what it means. Seem to be several different forces at play this week:
- large placing with 80m new shares coming to market, on top of 35m a couple of weeks ago. Presumably a drag on SP, see large late reported sales today
- Twitter led buying spree, which seems to have lifted SP from 1.30 to around 1.60 and greatly increased volume so presumably churning placing shares
- BMD rumour about ongoing transformational farmout talks, which seems to have lifted SP again this pm when it looked a bit saggy, slowed again by placing sales
- SImon being upbeat and talking about farmouts/sales as part of our rebalancing - with £1.5m in Bank from raise
- Wressle going on in background providing some extra revenue and promising more with Squeeze
- Oil price hovering around $70 and looking bullish - great for current and new revenue easily covering overheads.

So are we heading up to 2/3/4p or back down to 1.50/40/30 as we clear the placing?

@Tacuma. Was that a late stage appraisal project?

https://www.**********.co.uk/articles/prospex-energy-and-europa-oil-gas-333e0b5/ - at 10mins 63 secs.
(Haven’t figured out yet how to make the link live)

At last a podcast interview on Vox Markets of Simon Oddie. Broad brush but a pretty clear message about where he wants to take the company. Sounded a lot more energised and upbeat than previously. Rebalancing is the word of the moment - and seemed to suggest selling/farming out of offshore exploration assets in next few months to shift emphasis to North Sea (likely). Wressle clearly excluded from agenda for discussion at present.

Agreed Rob, but I think it just illustrates the power of Twitter and the importance of doing your own research! Nice to see the SP rising, but honestly not what I was expecting immediately after the 120m share placing. But then this is AIM.

The RNS is not a reduction in holding, its just their percentage has dropped with the increase in shares issued in the placing. They did the same notification when the first tranche came to market.

@Ivans - agreed. But volume still matters as you have to clear the overhang whatever before other news can really take you forward.

@Rob. SP was only 1.65 when they announced, then with a 20% placing discount to 1.30. I think it’s bound to go up and down while the placing shares are integrated.

It was approx 120million shares @1.30. 32million came to market on 18th Feb, the rest will now arrive on 8th March.

Love the volume again today. If we can sustain this sort of level we could clear any churn on the placing shares this month and hopefully move ahead more significantly by Easter.

Yes good volume here today - over 10million traded. Now starting to shift some of those placing shares.

@H. See what your promise has done to the share price!

@Cloves. Think if you want to use these completely open BBs you have to talk to those who are also interested investors and simply ignore the “disrupters”. They aren’t that hard to spot whether rampers, derampers or “grudgers” (I see from your posting history it didn’t you take long with some!), but they feed off oxygen so responding to them is worse than useless. They always have more time to spend on this than you ever will, are willing to misrepresent info without evidence, and seem to thrive off goading people into an over the top response which they will then gleefully use against them for evermore. You can filter people out from what you see on the Board, although I prefer not to, I just count to 10 and stick to talking about the company. I still find there are some around (including genuine critics from experience) who can challenge your thinking and give useful steers and references to info you might otherwise have missed.

Thanks, Cloves, good to have confirmation of an interview - hope Simon can seize the opportunity to chart out a new direction that can get some momentum behind this company. Since he took over it seems he has largely been managing the fallout from the collapse of the Ireland strategy (Corib excepted to some extent), then the oil price collapse and Covid - and an overly expensive cost base in relation to the size of the business. We've got a window now with Wressle and the placing (at a cost) to pick up the pace and flesh out the plans now on Ireland/Morroco/Production/the "third leg". If he can set a new course and provide some clarity and exciting, yet credible, timescales around these points - with a commitment to further more regular updates - then that would be a big step forward and we might attract more new investors - on Ireland alone. (I should add that he has done 2 interviews over the past 18 months - lets just say the second was a little more dynamic than the first - so here's hoping for a stonking third!)