.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

balerboy - prosper yes But the ex took it all .So have a fresh start again!!! not doing bad curently started fresh again since two years .

hey Baylis, you one-eyed trouser snake, how come you haven't answered my question (post 175)? ..... also, weren't you the twat who called me a liar the other day re selling some XEL at 386/390, and was promptly proven totally and utterly wrong? ...... if so, where's the abject or even any apology?

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

good to see that, like me, you tend to post when you marry money and mouth

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

You have a humble opinion?

It's a miracle!

From the EOG Financial Report dated 26 October 2010.
"It should be noted that the 2011 appraisal drilling on Voitinel is expected to be funded from future cash flows but that will be contingent on the increased production anticipated from the West Firsby development well. If that well is not successful then the Company would need to seek alternative funding for Voitinel which could include another issue of equity, or the trading of assets."

From the RNS dated 24 December 2010
"Oil and gas company Europa Oil & Gas (Holdings) plc has raised about 2.75m before expenses to fund its near-term work programme through an institutional placing at 15p a share.

The funds will be used for 2011 work including anticipated sidetracking and testing of the Barchiz-1 well in Q1, appraisal drilling on the Voitinel gas field, the planning phase of the high impact Berenx-3 well and production stimulation work on the Crosby Warren oilfield."

I guess you could infer from those two statements that West Firsby is not producing revenue streams as hoped.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

As previously posted I was curious as to why EOG are on their third Broker / NOMAD in less than a year and due to a lack of a response from our expect researcher, TA, I thought I'd try to find out why. I've come to the conclusion, which of course is just my opinion, that EOG was in such a perilous financial situation last year no self-respecting adviser would touch them with a barge pole.

A few observations from the Finanical Report dated 31 July 2010.

"The lower than expected production and cost of the well workovers put a strain our cash resources and caused a degree of uncertainty over our ability to fund the 2011 work programme. It was therefore signaled in the Preliminary announcement of the 2010 results that an Emphasis of Matter going concern comment may be included in the auditor‟s report of this 2010 Annual Report and Accounts. Since the end of the reporting period, the Group raised a further 1.45 million through a share placing. This additional funding gives more confidence in our ability to fund the 2011 programme and removes the need for the Emphasis of Matter comment."

Basically the Emphasis of Matter questions the company's ability to continue as a going concern.

It's easy to see why this warning might have been included, if Intangibe Assets are stripped out of the Consolidated Statement, EOG would have been left with negative assets of 2M, ie, if all their debts were called in, they did not have the money to pay the debt. I do wonder if they were materially insolvent (obviously, not technically).

For info their Intangibles relate entirely to exploration costs already spent, the majority of which has been invested in Romania (7m).

Actually the situation was probably even more dire as plant & equipment accounted for 4.5m in assets, which would be worth very little if a quick sale was required. Throw in liabilities of 7m, including short term loans of nearly 1M and a 3m deffered tax bill with just four thousand cash in the bank (yep, four thousand!) it didn't make a very pretty picture.

Although EOG have since raised cash through placings, it is quite clear they desperately need revenue streams, without which they will be coming back to the market and further dilution.

The good news is Firsby should help, although perhaps not to the degree the BoD would wish (see my previous post). I suspect the real winner in the short term will be the Voitinel gas Field in Romania, which is already plugged into a gas pipeline.

No doubt TA will attack my comments, however, studying past accounts can certainly flag up future problems and rather than attracting abuse should stimulate discussion.

TA, I care not if you read my posts, they are for the benefit (or not as the case may be) for the more open minded and certainly more intelligent.

PS. With every insult, you beome more abhorent to other readers, who I will leave to make up their own minds as to your rather base character.

thanks peter .... a very readable analysis and conclusion

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finace industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

sounds more like pro everyday.,.

The answer is in the name - topANALyst.

i never said a word!