Igas Energy Share Discussion Threads

[2baffled] 12/5/2015 23:33

re. 6523.

Yes.

So who wins?
It's not hard.

In case it is ..... a hint;-

An onshore Weald or Lincolnshire barrel costs buttons to drill and transport.
Gas from Qatar, Putin or Penketh?

Indeed.

Fox You 2 and frack-off [as some may say].

[fox you] 12/5/2015 20:20

Good news for the motorists and economy, ie cheaper transportation and heating costs

From The Times today 12/05/2015

================

Oil prices will not return to $100 a barrel for at least a decade, the world’s most influential cartel of producers has predicted.
The price of crude oil is unlikely to rise above $76 a barrel by 2025 and could fall back to $40 a barrel because of the vast supplies that have been tapped through fracking in the United States, Opec believes.

[fox you] 12/5/2015 19:56

when will you guys get your money back??

Many, many fools were banging on about how "cheap the share are" when they were above one quid then sub one quid - so when do you break even??

LOL

[haydock] 12/5/2015 16:05

IGas completes INEOS farm-out as CEO bows out

News
May 12, 2015



IGas hopes to get into Shale production onshore the UK


By Amy McLellan

There’s a change at the top at IGas, with CEO and co-founder Andrew Austin stepping down from the Board after ten years and CFO Stephen Bowler taking over the helm as CEO. Austin’s departure comes after the AIM-quoted onshore producer completes its farm-out to chemicals giant INEOS, a deal that puts real financial fire-power behind its shale gas acreage in the UK. The AIM-quoted onshore oil producer agreed the deal in March, which will see INEOS assume operatorship of PEDLs 133, 145 and 193 and EXL 273.

Under the terms of the transaction, IGas received £30 million in cash and a funded work programme of up to £138 million gross, with Igas’s share of these costs, reckoned to be about £65 million, to be funded fully by INEOS. In the North West, INEOS will acquire a 50 per cent interest in IGas’ PEDL, 147, 184, 189, and 190 licences and a 60 per cent interest in PEDL 145, 193 and EXL 273 (collectively known as the Bowland Licences).

Once commercial production starts from the Bowland Basin licences, IGas would pay back its net share of the carry out of 50 per cent of its net free cashflow. In the East Midlands, INEOS has the option to acquire 20 per cent in PEDL 012 and 200 and in Scotland INEOS will acquire IGas’ entire working interest in the acreage held under PEDL 133 in the Midland Basin and assume operatorship.

Speaking at the announcement of the farm-out in March, Austin said the deal underpinned the “quality, scale and significant potential of our licences”. Gary Haywood, CEO of INEOS Upstream, said these “first class assets [had] the potential to yield significant quantities of gas in the future”.

INEOS is keen to advance the UK’s shale gas industry, believing an indigenous shale gas industry could transform UK manufacturing and lower feedstock costs for its Grangemouth petrochemical plant. Partnering with IGas makes sense because the AIM company is at the forefront of the UK’s fledgling shale industry.

And for IGas the tie-up adds further financial firepower to its shale portfolio. The transaction means the shale gas wanna-be is now in partnership with industry heavyweights Total, GDF and INEOS in the UK with a gross carried work programme of US$285 million to unlock shale gas potential across the North West and East Midlands. This will give IGas a significant, funded work programme going forward, including 15 wells, flow tests and gas handling stations.

In the meantime, in light of the prevailing oil price environment, IGas, which pumps around 2,700 boepd from its fields in the UK, has been cutting costs, with headcount reductions of more than 25 per cent, including the closure of the former Dart office in Stirling, Scotland. At the end of March the company has cash of £19 million and net debt of £90.9 million. This has since been bolstered by the £30 million in cash from the INEOS farm-out.

[au24] 12/5/2015 10:08

Great Update on the 8th.
Doing all the right things by the look of it.

[haydock] 12/5/2015 09:37

[...]

Thisbb has a queue when the share price is falling. Now silence, great news !.

[haydock] 11/5/2015 11:42

Last weeks RNS.

Following the successful Ellesmere Port-1 well, completed in December 2014, which encountered over 400m of gas-mature shale, an extensive programme of log and core analysis has been commissioned.

[kenstaff] 11/5/2015 11:18

BOWLAND Shale is a MONSTER.....

fact

Cuadrilla Resources, an onshore exploration company, said in 2011 that there were some 200 trillion cubic feet of shale gas reserves in place in the Bowland shale in northwest England. That's equal to about 5,700 Bcm, and producing just 10% of it, or 570 Bcm, would be equal to around seven years of the UK's entire annual gas consumption.

[hawkwind4] 11/5/2015 10:34

Oh God, he's back. Mr Bloody negative

[fox you] 10/5/2015 20:04

WILL IT SEND IT BACK TO 168P LOL

[kenstaff] 10/5/2015 15:38

BOWLAND Shale is a MONSTER.....

fact

hxxp://nora.nerc.ac.uk/503839/3/BGS_DECC_BowlandShaleGasReport_APPENDIX_D.pdf

[fox you] 10/5/2015 12:19

Time to take profits?
If i go into fracking SP's - 99% cert it will be Edgon as they have a really good, puka leader

i was right about the spike - what next lol

[fox you] 09/5/2015 13:03

time to run - lol

[haydock] 09/5/2015 12:34

Agreed, he cost us a fortune, bad judgement, but came over well on the media.

Balance is difficult.

Timing is also a difficult art, but this seems to be Good Friday, as the papers are full of the possibilities now for fracking, & gas supply, at least the Telegraph is.

Davey gets a very bad press, Fallon was his minder, not trusted to keep on line, as Green as we thought.

Arise Sir I-gas ??
At least notice how far above is the 200 dma.

[backinblack80] 08/5/2015 23:23

Haydock,

I'm not sure Austin is such a good man. If he made a mistake then presumably we will see him buy his shares back.....

I think his self-serving actions have cost us all a lot of cash.

The rest of your post, I hope, is spot on.

[au24] 08/5/2015 23:03

David Cameron has stated that he is very pro fracking and gave his reasons. Now with 5 yrs ahead of him we should see some pretty good action.
If labour had won then it would not be looking so good for holders here.

[hawkwind4] 08/5/2015 16:38

One to read you fraccers.


Selected pick off another BB thread that I came across.

The Yorkshire Post AND A MUST READ for all holders and those thinking of holding shares in shale gas extraction companies




Shattering the myths over risk from ‘fracking̵7;

THIRD Energy has been producing gas and electricity in North Yorkshire for more than two decades, working with local businesses, employing local people. Over that time we have drilled more than 20 wells, all on sites less than the size of two football pitches, next to farms, homes, even tourist attractions, and have an excellent safety and environmental record. For the most part people hardly notice us.

To read more hxxp://www.yorkshirepost.co.uk/news/debate/columnists/john-dewar-shattering-the-myths-over-risk-from-fracking-1-7238715thread that is worth a read.

Read and weep Fox You etc, etc.

[hawkwind4] 08/5/2015 16:37

Selected pick off another BB thread that I came across.

The Yorkshire Post AND A MUST READ for all holders and those thinking of holding shares in shale gas extraction companies




Shattering the myths over risk from ‘fracking̵7;

THIRD Energy has been producing gas and electricity in North Yorkshire for more than two decades, working with local businesses, employing local people. Over that time we have drilled more than 20 wells, all on sites less than the size of two football pitches, next to farms, homes, even tourist attractions, and have an excellent safety and environmental record. For the most part people hardly notice us.

To read more hxxp://www.yorkshirepost.co.uk/news/debate/columnists/john-dewar-shattering-the-myths-over-risk-from-fracking-1-7238715thread that is worth a read.

Read and weep Fox You etc, etc.

[haydock] 08/5/2015 09:15

Sad to see Austin go, not pleased about the personal attacks which T.W. made on him.
Wish him all the best, he did well in the House of Lords enquiry & on local T.V.

A good man goes, like many others today, he did after all make a mistake the mkt would not forgive.


Still an overdue & dignified change & an update should provide an orderly re-assessment of the share.

Perhaps now we shall start to see the share price in a different light, with a 30p floor.

[kenstaff] 08/5/2015 08:38

Bish bash bosh

4x my holding now

++++++++++++++++++++++++

George Osbournes acceptance speech, contains his NORTHERN POWERHOUSE PLEDGE
which is THE ATLANTIC GATEWAY = SHALE GAS :-D

[haydock] 07/5/2015 18:18

At the minute, if I am in run for the hills !

Mkt out of love with this one, oil moving up, time will tell, but look out for the next figs in a couple of months.

Hedged so not as bad as folk think?