Member Info for Yanis2005

Wyn, good morning, the answer is yes.

If I was not a shareholder, with the SP at all time low below 1p and only 274 million shares in circulation I would have bought some.

Jackbal/Stxx, fully agree with what you are saying about CC (and the rest) … choosing to be loss making then blowing the cash pile away, not dipping their hands in their pockets and buying some sharers … damn disgrace.

One thing though, which maybe a positive when looking for a buyer … being profitable at the operating level, pre-central overheads … sounds stupid yes but if true, wouldn’t this make Eve more attractive to another company which does not need the Eve overheads? They already have their own?

Geeman, if that is the case then we are relying on Eve’s business model (minus tax losses) alone. Fingers crossed a buyer. We should find out out in the coming weeks.

Correction. 2nd para

So EVE is worth a lot more to prospective buyers as a PLC rather than in admin

Wyn,

I believe that there are parties doing due diligence and asking questions. A “small number” - at least two. Ofcourse nothing came out of this yet as they are still doing due diligence. When they finish their due diligence we’ll find out one way or another. I expect this process to take at least another couple of weeks, maybe more.

There is value in EVE and this is is not under Admin. Under admin the accrued tax benefits will be lost and these are substantial. So EVE is worth a lot more top prospective as a PLC rather than admin.

I still believe that there is more chance of finding a buyer rather than going under. Hence my averaging down but each to their own.

Last update on 21 July stated:

“The Board of eve continues to explore the strategic and financing options available to the Company, including the possibility of a sale of the Company. This has involved engagement with both possible financial investors and strategic partners, across geographies, leading to the Board receiving a number of indicative expressions of interest. These have been carefully evaluated by the Board, with a small number currently being facilitated in their due diligence and with further information requests. Further announcements will be made as appropriate. There can be no certainty that the terms of any offer or investment received will be suitable for the Company and its stakeholders.”

So,

1. Engagement with both possible financial investors and strategic partners, across geographies

This tells us that there are both financial investors as well as buyers interested. The “across geographies” tells us that these parties are not just from UK, they are also from overseas; US, Europe?

This is good as it tells that there is global interest.

2. A number of expressions of interest, carefully evaluated by the board, with a small number currently being facilitated in their due diligence and with further information requests

There is a small number of investors/buyers doing due diligence and asking questions. A “small number” must mean there are more than 2 or 3 parties.

Again this is good, a positive, and we should hear something about this in the near future, end of this month? Beginning of next month? I hope is soon.

3. There can be no certainty that the terms of any offer or investment received will be suitable for the Company and its stakeholders

This sounds like a standard caveat but hold on a moment … if the alternative is going bust, any offer is good. No?

Personally I think that there is a very good chance of getting an offer; good product lines, nice revenue stream, tax losses to reap benefits from, business in UK, Ireland & mainland Europe …

DGU, obvious mismanagement, but I stopped kicking myself about that now - I wish I never listen to the investor webinars, because is believing what CC & TP said two years ago that got me to invest heavily. We are where we are though.

The hope (for me) now is a buyer and there is a very good chance that one will be found and that is why I am risking more to average down.

Jackbal, me a bull? Have you read my previous posts. I am in full agreement with you and DGU in what you are saying about CC (and TP).

There is a good case for a buyout though.

My current average is over 4p, I am trying to buy more low to bring my average down as I do feel that a buyout chance is relatively high. I believe this and I am willing to risk more to minimise my losses and possibly a grain.

Fingers crossed, a buyer soon.

The bid is at 2.50P … we haven’t seen this for a while. 3p soon :)

Les, lol I want to get some at 0.85p :)

Oh, according to L2 WIN is advertising 50k but my order for 50k gets rejected.

Greg, thanks. I trade with IG and I only get two options - either ask for a quote or place a bid.

If I place a bid it gets ignored, the MMs are walking over it in either direction and my order gets ignored.

For quotes, I asked for 250k and got them offered way over Ask. I then reduced it all the way down to 5k and it gets rejected.

Is a disgrace. If it was on the main market, with the Ask at 0.85p I would be able to place a buy order at 0.85p and what every was available at 0.85p I would get it. AIM is rigged in MMs favour.

Fingers crossed Les. 2.50p held us back for long time now but look like the beginning of the ride upwards now. One month to Serenity drilling.

Is not fair though, if WINS sitting at the ASK does not have shares to fill orders should move out of the way.

If ask for 250k shares I get an offer of 0.95p, if I reduce it all the way down to 10k my order gets rejected. AIM is rigged in favour of the MMs, it really needs to change to operate like the main market where anybody can put a bid or ask.

Trying to buy at 0.85p but my order gets rejected, will not give me anything, not even 10k!.

I know I said I will not post again, but today I am making an exception, just one more post.

Putting Angus’s competence in delivery aside, the news today are extremely good (under the circumstances) and I am surprised the SP hasn’t ticked up.

Is not to Mercuria’s interest for Angus to go under - yes, Mercuria will own the asset if Angus goes bust but the asset will not be as valuable to them as currently is. For three reasons:

(a) Tax losses will be lost
(b)) the hedge will be voided, and
(b) Mercuria will have to find another operator to operate SFB. The new operator not only will have to be approved by NSTA (ex-OGA) but will also be looking for a good deal out of this arrangement and who is going to assume the decommissioning liabilities? Gets complicated.

So in my opinion Mercuria wants Angus to succeed and carry on.

Now, the delay in first gas from 1st July, putting Angus’s unhedged profits from early start aside, caused two issues:

(1) The start of the £12 mil funding loan - will now have to be paid from cash in hand, or delayed resulting to interest payment - minor issue.
(2) Start of flowing gas and revenues, Angus receiving 43p per therm and Mercuria receiving market gas price minus 43p/therm up to hedged quantity is delayed.

So the reall issue is (2), but then again under the circumstances is not a big problem for Angus or for Mercuria - Angus looses early revenue and Mercuria will probably earn more due to higher gas princes early next year. As long as the gas flows in adequate quantities Mercuria is not loosing out by hedge deferment. Not a significant and not a complicated issue to resolve.

So, provided they get their act together and start producing next week all good.

Excellent news but Inishkea development will be very slow. What we really need now are news of NSTA I3E/EOG Serenity deals approval, only this will get the SP moving, in my opinion.

There are still a lot of shares available at this level - I am getting a quote to buy 1,000,000 shares at 2.295p!

We need news to attract buyers.

I never liked the placing at 1.8p, was far too low. Two days before the placing the SP hit 3.70p. As usual, there must also been a placing leak driving the SP lower. If he held back on the placing even for a week the placing would have been at over 3p with considerably less dilution. Anyway, is history now, we are where we are.

To me the real problem is still the PR, very poor. They recently hired a Communications agency, but nothing has changed.

UJO going up …

Not only RNS’ed revenues … is constantly twitting …

https://twitter.com/unionjackoilplc/status/1552557768464285698?s=21&t=SuY1L0UMgwoehg9h6y76ZA

Oil over 100 dollars

I3E going up …

EDG going up …

UJO going up …

EOG …flat at the low … Why?”

Frustrating. We are less than 3 weeks away from mid-August when Serenity drill can possibly start.

IMO, we need NSTA (ex-OGA) to approve the Serenity deal between I3E & EOG and I am surprised that in the current favourable environment we haven’t got yet. IMO only when this approval arrives will we see movement here.