Member Info for Yanis2005

HITS, I disagree about the EA - I do not believe that it is priced in.

EA approval is critical now. IMO, we will see a significant SP spike and a notch up, very likely above 1p when EA approval is announced.

I also believe that if EA approval is delayed passed mid-Jan next year then the SP may revisit the all-time low.

Will we see Civil Works ramped-up without EA approval? Doubt it.

We closed at 3.10p.

The 105-EMA is at 3.20p and the 200-SMA at 3.80p. IMO, when we take these two out is quick run to 5p. Next TU early Jan, not long now.

Director buys in 2021

?14/12 Chair 800,000 @ 2.94p

?13/10 Chair 500,000 @ 3.14p

?23/08 CFO 400,000 @ 3.075p

?11/05 Non-Exec Dir 100,000 @ 4.827p

?22/03 CEO 87,719 @ 5.70p
CFO 100,000 @ 5.70p

An d we are still on course for sustainable profitability in 2022. Next TU will be very very interesting.

Nom, You must admit is puzzling. They could have taken part of the placing, if they wanted to, rather than having these damped in the market.

I wonder why they are not now aiming for 10%+

If EA lands this month then the SP will very likely shoot back up above 1p. Site activity picking up will see the SP appreciating even more - if it all goes as per latest plan.

So why are these guys choosing not to increase their stake?

G.P (Jersey) Limited Is listed as having 8.64%

These guys when they joined they wanted 10%+ shareholding.

They wanted that so much so that after the 1p placing there was another 1p placing for them to get them back up to above 10%.

Following the last small issue of shares they dropped to just below 10% and didn’t bother to top up.

With this 0.65p placing G.P (Jersey) Limited shareholding dropped to 8.64% and even though they can now buy a lot cheaper (i.e. at 0.65p) they don’t bather with it.

I am puzzled - why are they not now not interested in the 10%+ holding?

BV, the only thing that I want to see now, at this present time, is EA approval.

Angus said it will come by latest 17 December - that is a mere 3 days away and is getting very tight for approval this year.

Morning BV, you may need to check with a Drilling Engineer or Reservoir Engineer for that. As I said earlier my field is what goes on above surface (ground or water), upstream and downstream plants.

Thanks ED. On to EA approval now.

What is it all about? At the hospital today and just saw the tweets.

VeryHappyBunny, I contacted them with a suggestion before, a few weeks after SO announced on Proactive the imminent North Sea acquisition that is not on the table anymore. At that time I used the form on the website, received no acknowledgement.

Does anybody have email contacts? And btw, last time I contacted them I was polite, this time it will be polite but firmer.

HITS, I agree in that the earlier Angus starts producing before the hedge kicks in the better - more cash in the coffer.

My point with waiting for EA approval is not to avoid spending money, but wait and see if the EA puts any preconditions that require site preparation, e.g. membranes, exactly what I don’t know, is not my field.

Anyway, do you agree that come next week if no EA approval and no Civil works contract award occurs then the two are very likely related?

The 1.10p bid is about to be blown away, is already selling below that.

We seem to have good news (i.e. Wressle revenues) and the Irish situation seems to be becoming a lot more favourable, yet the SP drops, continues to sink lower.

FFS this is 100% down to the BOD not promoting the company, not doing what they are paid to do.

I will be writing to them expressing my concerns and dissatisfaction.

To me sustained profitability means at least two positive results in 2022. If we just show a profit at the end of 2022 it does not necessarily mean sustained profitability until it is confirmed in 2023 … and this would then be sustained profitability in 2023, not 2022.

We should see a profit in the next report, minimising losses is not good enough.

HITS, in my opinion FWIW Angus is waiting for EA approval before going full steam ahead with the Civil Works.

Firm orders were placed long ago and foundation plans are known long before equipment delivery. In fact manufacture/assembly really kicks in after the foundation plans are approved. I don’t believe that these are the reason for delay in civil works.

I believe the delay in Civil Works award is down to EA permit approval - 100%.

This week the EA permit is suppose to arrive, also the Civil Works contract is supposed to be placed. Next week we’ll know, if EA approval is not announced Civil Works will not (IMO) be awarded either, we shall see.

HITS, EA is known for very long delays. I will relax when the approval is obtained.

We will know how serious EA approval is by the end of this week - will Civil Works start?

ED, precisely … This is why Angus should be banging on EA’s door.

Nobody is expecting not to approve this but it could take them another 6 months or more left to their own accord. They need a push.

Mirasol, if the contract forces them to buy the gas in order to supply it to Shell at the hedge price and it comes to that then is goodby Angus!

Angus should be banging on the EA door on a weekly basis.

Angus said that they were expecting approval by the 17th … that is a mere 4 days away. I hope Angus is not sitting on their hands and is waiting for the 17th to pass. They should be in constant contact with the EA, pushing them.

Geeman, I doubt that we’ll see a TR-1, volumes don’t justify that. Unless ofcourse is a director buy.

On the issue of sustainable profitability in 2022 I see a profit in next report and a profit again at the end of 2022. Is that how we all see it?

HITS, I agree with you in that GL can update the 1st Gas forecast and condition that on EA approval. It is in fact as you say the right thing to do.

EA approval is key, yet nobody here seems to want to discuss this in a bit more detail.

There is no guarantee that EA approval will come in time. In the meantime, Hedge start date is fixed.

What would happen if Angus is not ready to deliver the contracted quantities when the hedge kicks in? Do we know what the penalties are?

VeryHappyBunny, thanks for that. Huge, brilliant and very encouraging news.

I can see the Corrib operator and owners being very interested in the EOG acreage. Looks like is now only a matter of time before the Irish wake up and sort the EOG licences and permits out.

This is something the EOG BOD should be commenting on in my opinion.