Member Info for Yanis2005

BV, in all likelihood the EA approval will be awarded, as I said earlier this is a simple variation to the existing permit.

The question though is WHEN?

Without EA approval I doubt it if Civil works will start. Delivering equipment to site is no issue as it can sit there and wait. If Angus take a gamble and starts the Civil Works then a lot of time will be saved as they can do all the pre-commissioning and also mechanical completion. When EA approval is given they can let the gas through finish commissioning, test and off we go.

There is no quarantine though that EA approval will be awarded before the 17th, within the week, as Angus is expecting. There is no guarantee EA will be looking at this case now, and If EA is working from home then it may take quite a lot longer.

I am still hoping though to see the EA approval next week (17th is next Friday). Fingers crossed.

Dummy trades:

Bid 1.10p … Ask 1.20p
Sell 100,000 @ 1.101p. - will appear as a sell
Buy. 100,000 @ 1.145p - will appear as a sell

This is not good as it indicates that right now more shares are available for sales than buys.

Sentiment is nonexistent, zero, zilch, nada, dead.

BOD doing a great job!

BV, first things first before we start counting chickens, let the eggs hatch … we need the EA approval.

Is it going to be a happy Friday? I wonder when the EA approval will land.

MMs can sell short as part of their normal market making activities. They can easily forward sell placing shares and then have them replaced when the shares are admitted, IMO.

Strangely enough we been seeing 30+ mil volume and 20+ mil volume days this week, but today when the shares are officially admitted the volume is a mere 5 mil!

Exactly ED.

Who was selling 1 mil and 2 mil share blocks below 0.7p?

PIs that suddenly gone mad and are selling at a loss at rock bottom, just before news on SFB?

HITS, I don’t think that the placing shares have all been forward sold. I think the majority is still to come. Personally, I am expecting to see the Ask at 0.65p (and hopefully not less).

Unless the EA approval hits and creates the demand to clear the rest of the placing shares at higher SP.

In last TU a few months back we were told that all is on course for sustainable profitability in 2022.

Why with 3 weeks left to see 2021 through is the SP at a 52-week low and sinking lower?

Last year a precedence was set by announcing a TU on 2 December. Why did this precedence not continue? The wrong message is now being send to the market and hence the SP hammering on increasing volume.

Forgot to add “net” in front of “yearly revenue”. The 50% and 61% figures are NET revenue (after all expenses).

The BOD performance is a disgrace. The SP is at 1.10p and sinking lower as we approach Christmas and New Year.

At 1.10p the EOG MCap is £6.2 mil.

Oil is at $74 and on the up. At an oil price of $64.4 ($10 lower than current oil price), yearly revenue from UK onshore is £3.1 mil which equates to 50% of current MCap.

The yearly revenue from UK ops is more than half the value of the MCap (>61% at current oil price). Value in Morocco? Value in Ireland? Why the SP decline?

The current SP rot is inexcusable and is 100% down to the zombie BOD. They are just happy drawing their salaries and effectively do very little to promote the company and bring value to the shareholders (help the SP appreciate). There are no dividends here paid out to shareholders to do the talking … the BOD needs to do the talking but they are not. They are acting as if they are working for Shell or BP. Completely inexcusable and if this attitude continues then there will be no hope here.

Geeman, shareholder value is in the value of the SP, is as simple as that.

Once the SP crushes, it takes a lot more effort, a lot more volume to lift it up. To me this is worrying, as it may not recover to the levels where it should be.

Volume (sell volume) should now pick up as the SP drops.

Somebody wake CC up.

Yanis2005
Posts: 3,962
Price: 2.75
No Opinion
TU. Fri 08:40
I was hoping to follow on from last year and get a TU this week, it didn’t happen.

Now, hopefully a TU on Monday next week.

If we don’t get one until January, IMO 4/5 weeks is a long time from here and considering that over the last few days all we have seen is mainly sells, the SP will very likely collapse.

Looks to me that potential buyers are holding back waiting for the update and some holders are getting nervous and are selling. IMO, it takes a lot more effort, a lot more volume to lift the SP up from lower levels. As the SP advances it takes relatively less volume to push it higher.

I do hope we get a TU next week before the SP drops lower. GLTA.

If sustainable profitability by 2022 is going to really happen then we must see a marked improvement in next TU in my opinion.

I am heavily invested here and a bit disappointed we haven’t got a TU already and if no TU this week then I don’t know what to think.

If Eve stays quiet until January, then the SP is likely to crush, volume is low now but will pick up on the downside. I hope they have something to say and say it soon.

Irrespective of the work over rig, it changes nothing as far as 1st gas is concerned.

So far on site we received the flare, the analyser package and the metering skid. Unless we receive the EA approval this month and the rest of the equipment by February as in last RNS delivery schedule then is goodby 1st gas in Q1.

This is the essence.

WG, thanks. Beyond my field but why would a work over rig be required? Didn’t the shutdown help build up the reservoir pressure? I wish Angus would tell us what they are doing … be a bit more transparent.

I don’t recall Angus mentioning a work over rig, anybody else has?

WG, I don’t know why a work over will be needed now. No idea. A reservoir engineer would know.

And guys, yes, I have tons of experience in the Oil & Gas industry. I did mention upstream and downstream …

Reservoir engineering, drilling and sub-sea are different. I do not have experience in these, I understand a few things but is not my field. I know about what goes on on the surface.

We still don’t know how long the rig has been there - two possibilities

(A) was brought in days ago for sidetrack before first gas, but this as per the RNS has changed. If this is the case then is waiting to be taken down and removed. I don’t see them keeping it there until after 1st gas.

(B) They changed their minds since the RNS and the rig was just brought in (and I don’t mean brought in elevated!) to drill now.

If we are to believe the RNS, is (A).

BV, I said “waiting to be taken away” … ofcourse it has to be taken down first … you want every step spelled in detail? What is this a test?

The upside picture below does not change anything from what we already know, is just an evening picture with the lights on - don’t forget it gets dark early this time of the year.

What we have so far is the flare, analyser package and metering skid delivered to site - that is it.

As far as the rig is concerned we already discussed it.

What do you mean by I”'m very surprised by your answers being from the industry.”?