Igas Energy Share Discussion Threads

[raideradg2] 15/12/2022 15:43

Nice to see the weak holders bailing out for their 5-10%. More jam for the rest of us

[theblackbaron] 15/12/2022 15:39

Seller cleared blue sky’s baby

[bekindnotblind] 15/12/2022 15:14

Or did I mean 55p

[bekindnotblind] 15/12/2022 15:14

I not sell until 5p

[bsg] 15/12/2022 15:04

No, just a large buy frenzy.

[raideradg2] 15/12/2022 14:56

Hello, what's happening here...a news leak?

[blackbear] 14/12/2022 14:13

You sound like someone thats lost a lot.

[bekindnotblind] 14/12/2022 13:57

MARKETA MAKERS sit & wait for dum punters to buy wait till it's 5p then maybe worth a. PUNT

[bsg] 14/12/2022 13:32

Coiled spring. LOL.

[epifanio1] 14/12/2022 13:08

And the planning wasn't for oil fracking. It was for a hydrogen development. So you're point response was pretty much useless to readers, aside from some new derogatory phrases lol

[epifanio1] 14/12/2022 13:03

It's not old news actually. It happened late Oct after Rishi pulled the fracking bill and the company never released an RNS. So its unknown news to the market. Surprised its not been mentioned in today's update actually. By all means call me names, it just shows the level of intelligence on bulletin boards these days... when somebody highlights any potential issues spivs just attack, attack, attack..... then many wonder why they fail in the business lol

[hairballradical] 14/12/2022 10:55

mortal!ty,

.... while making a c £20m profit

The above means that they are looking to maintain at least 1900 boepd from their existing assets while developing their new business opportunities for longer term shareholder returns. It doesn't mean that they are pouring cash into existing assets just to breakeven.

Debt has already been reduced this year and I expect another tranche to be paid off in the second half.

The dividend is my opinion and I believe its a distinct possibility, a 1p dividend which is approx 5% of earnings would set them back £1.25m, not a vast amount but a significant signal to the markets that they see themselves as a long term player.

[mortal1ty] 14/12/2022 10:13

We are focused on putting cash generated during high commodity prices to work into maximising recovery from our existing assets and developing near term incremental production opportunities as well as growing our nascent geothermal business into a material enterprise."

- No chat about dividend.

[epifanio1] 14/12/2022 09:06

"The proposal, by IGas plc, was rejected unanimously by the county council's planning committee this morning.The vote followed a recommendation from officials that the scheme was inappropriate development in the greenbelt and there were no special circumstances to justify it..."Why has this STILL NOT been RNS'd. Its price sensitive information..!!!!!!https://drillordrop.com/2022/10/26/surrey-rejects-igas-plans-for-grey-hydrogen-production/#:~:text=The%20proposal%2C%20by%20IGas%20plc,special%20circumstances%20to%20justify%20it.

[hairballradical] 14/12/2022 09:03

Mortality,

They'll make c £20m profit this year. Running to stand still?

I'm thinking dividend next year.

[jackjackpaul] 14/12/2022 09:02

For perspective.... Igas is producing between 1900 - 1950 boepd. At the current oil price of $80, that equates to $4.6 million per month or $1.06 million a week at the lower end (1900 boepd).

Throwing off some serious cash in the medium to long term.

HOLD for me.

[bad gateway] 14/12/2022 08:57

Think they may be bigging up what they did a bit. In the interims they stated they were initiating a work programme to make up for the lack of works and maintenance during covid.
Think this was it myself.

[ashkv] 14/12/2022 08:21

Indeed and what about the massive decommissioning expenses and decent amount of debt which is not mentioned when referring to market cap!!!

Also Odey is yet to sell out - post massive buy-in hoping for shale prospects!!!

[mortal1ty] 14/12/2022 07:49

I'm sure it deserves a bounce from an oversold level.

The statement reads to me like they are massively running hard to stand still though. They are delivering inline production levels, but they had to increase operation rights 3-> 5, brought online 18 wells that were offline, and converting 2 wells from just jump to beam pump (whatever the hell that means).

What would production have been if they hadn't ploughed huge amounts of cash into this?

[kirk 6] 14/12/2022 07:29

Well that's reassuring !! Some people will have missed the boat today