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Independent O&G Share Discussion Threads
Showing 4951 to 4975 of 4975 messages
|Can buy around mid at the moment maybe our big buyer has had a day off or is already loaded ahead of the next rns.|
Totally agreed and I AM in here.
Just want more !|
|Edgar aex has had a great run and I have been watching over there since 3.5p and non stop rising (gutted I didn't Bag a few) but for me in percentage terms of risk reward both at current sp's IOG could/will fly on the next rns.|
|I am actually less worried about share price fluctuations than I am about them sorting the pipeline.
As I understand it the entire plan depends on the "route".
So while sorting that out should be good news and the share price go up, who the hell knows what the share will do in the short term?
Am hoping to switch some AEX winnings into here but awaiting an RNS there too.|
|Keep the faith longs the rns could hit at any time....|
|News tomorrow then, do you see our big buyer bailing!!|
You are right. I stand corrected.
I would still expect some update by the 28th though.|
|Read the RNS again. The MOU doesn't expire on 28 Feb. It's the exclusivity provision which expires. IOG can still complete after 28th but they would risk being gazumped by somebody else unless the exclusivity period is extended (which it can be by agreement).
If the deal isn't done and dusted by close on Tuesday it does NOT mean it's over.
edgar22226 Feb '17 - 23:32 - 1521 of 1521 0 0
According to pipeline RNS the pipeline contract is to be signed or abandoned by Tuesday 28th Feb.
(Actually what it says is the MOU expires then, but you know what I mean)|
|According to pipeline RNS the pipeline contract is to be signed or abandoned by Tuesday 28th Feb.
(Actually what it says is the MOU expires then, but you know what I mean)|
|check iog tweets
Momentous Events 09/03 is now 3 weeks away from today. ME is ready to deliver the biggest PI event & VIP party ever seen. Are you ready?|
|By the way... Long long looooong term.... renewables... natural energy will surely be the way forward. Does anyone have any tips for such an enterprise?|
|As long as it's spent making shareholders money then win win....Staff taking wages in shares are not going to shaft themselves are they ??|
|Funding is the key. Unfortunately when someone else stumps up large amounts of cash, they often want a say in how it's spent|
|Trend is up and imho news next week folks!!Watching for volume today|
|I am going for around the 28th a day either side of it imho but could come at any time.|
|chesty1...I thought from the RNS that a decision was due by the 28th Feb...|
|News is seriously close now.Sign the pipeline, sign back into the 20's with ease!!!!!!|
|Can now buy around mid price, let's see if volume picks up this afternoon.|
|It will come good SaturnGo on another tick up into close and juicy rns tomorrow, I would have liked us to be back to 20p before the next rns let's see.|
I have faith un what you say
I will not sell|
|news should be due by the 28th Feb
16 January 2017
Independent Oil and Gas plc
Acquisition of SNS Pipeline and Skipper Update
Independent Oil and Gas plc ("IOG" or the "Company") (AIM: IOG.L), the development and production focused Oil and Gas Company, is pleased to announce it has signed a Memorandum of Understanding ("MOU") regarding the 100% acquisition of a currently disused pipeline in the Southern North Sea ("SNS") for a nominal consideration. The pipeline will provide the proposed export route for its Southern North Sea assets. The Company also provides further results of the Skipper appraisal well drilled last year.
Acquisition of SNS Pipeline
The MOU contains exclusivity provisions until 28th February 2017. Discussions regarding the Sale and Purchase Agreement ("SPA") are at an advanced stage and all parties are committed to completing this documentation and then concluding the acquisition at the earliest opportunity. The Company will assume operatorship of the pipeline at completion and the liability for future decommissioning.
Under the terms of the SPA, IOG would also acquire the associated onshore reception facilities. IOG plans to use this pipeline as the main export route for all of its SNS gas assets.
Upon acquisition of the pipeline, IOG will undertake an intelligent pigging inspection to ensure the pipeline's integrity for safe re-use. The Company then intends to re-commission it to enable evacuation of the gas from both the Company's Blythe hub and Vulcan Satellites hub. This will require the installation of inter-field pipelines and tie-in points as is normal for any gas field development. With 300,000 million cubic feet per day ("MMcfd") capacity, the pipeline could also accommodate export of the newly enlarged resources in the Harvey discovery, subject to further appraisal.
This acquisition is of great strategic importance as it provides an export route for the Company's SNS gas development portfolio which IOG has acquired at low cost, mainly due to concerns over the ability to export the gas. Ownership and recommissioning of this pipeline will solve this issue, providing a direct export route for the Company's gas assets into the UK market. By owning the gas assets and the export route 100%, IOG will benefit from clear control over the entire process from field to market. There may also be potential for third parties to use the pipeline in which case IOG would benefit from tariff income. This strategy is fully supported by the Oil and Gas Authority ("OGA"), is in line with the Maximising Economic Recovery principles and is incorporated in the draft Blythe Field Development Plan submitted to the OGA in December 2016.
By owning the pipeline, the Company will incur no transportation tariffs, thereby further improving the economics of the SNS gas assets. These developments will also benefit from recent stronger UK gas prices. The Company will need to agree and pay processing tariffs to the terminal operator in the normal way. There will be ample ullage through the pipeline and the terminal has capacity to receive in excess of 400 bcf of gas at rates up to 200 MMcfd for more than 20 years.
The consideration is for a nominal sum, with IOG agreeing to bear the liabilities for the future decommissioning of the pipeline and reception facilities.
The Company has received further results from the analysis of the oil samples retrieved from the Skipper appraisal well drilled in July/August last year. The oil has a high density of approximately 11 °API, a high viscosity and a high Total Acid Number. However, the Skipper oil is mobile in the very high permeability reservoir and is also mobile at ambient conditions thanks to its very low wax content. The Company is undertaking further technical and commercial evaluation, in particular building a reservoir model to simulate the oil's mobility in the reservoir. If a field development plan can be designed to enable the economic extraction of oil from the Skipper field, the oil properties will present a challenge for refining and marketability. Depending on where and when the oil is sold, the Company anticipates the crude would trade at a significant discount to the prevailing quoted Brent oil price.
The total cost of the Skipper appraisal well drilled in July/August 2016 was £10 million. As previously announced this has been part financed via loans and deferred payments which are due to be repaid at the end of 2017. The total loans and deferred payments drawn for this purpose was approximately £6.8 million and approximately £3.2 million has been paid in cash or shares. In line with IOG's business plan, the intention is to refinance or repay these loans in parallel with securing development funding for some or all of our SNS gas assets in 2017.
Mark Routh, CEO of IOG, commented: -
"This pipeline will be the cornerstone of our Southern North Sea portfolio which, subject to remediation, will enable us to deliver our approximately 0.5 trillion cubic feet of gas resources to the UK market. During a period of relatively low gas prices we have bought, at very attractive prices, quality assets which were considered effectively stranded. Subject to completion of the acquisition, full ownership and control of the export route creates significant value for the Company, especially given the recovery in UK gas prices. Owning our gas portfolio and export infrastructure 100% will enable us to accelerate both the development planning and funding processes."
"The update on the Skipper crude quality has confirmed the earlier results and has provided us with some new data. The oil qualities are likely to be challenging, however given the oil's mobility in the reservoir we continue to explore the potential extraction and marketing options to deliver value from the asset."
"We look forward to providing further updates on our portfolio in due course."
|Saturn these will hit and smash past 25p at some stage this year I am going for within the next two months on the next two rns's but let's see.Nice to see them chasing stock for a change.|
|I would like these to hit 25 for me some time.
These AIM shares can often go badly wrong.( as I have found)
Silver and Gold could do well with all the political hasle
about BREXSIT and also in the US.
Im picking up a little on FRES|
|Morning allLooking very strong here ahead of expected pipeline update which imho will happen and set this one strongly into the 20's.|
|Buyers lining up now...|