Iog Share Discussion Threads

[wskill] 29/12/2021 10:27

There is always CAD it has a gas trading arm also probably ownership of a services company Proger which has not repaid a loan of $15m and a little oil production all for 3p a share also in Ukraine but with 3 or 4 court actions to try and stop the State stealing licenses, you also have to pray they dont do a JKX .

If you have the stomach for it assets are around £40m verses market cap of £8m including $15m cash in UK banks .

Not suitable for widows or Orphans

[edgar222] 29/12/2021 10:24

FarrugiaAminex.You already know Tanzania via Wentworth.Aminex are in a similar position to IOG. Farmout/funding sorted, gas discovered (much more than IOG and Wentworth put together) Major onboard. Next major catalyst September drill targetting trillions of cf more though possible good news before then.

[farrugia] 29/12/2021 10:00

what other plays would be good for Gas? I have Wentworth Resources. The Ukrainian/Russia plays JKX and Zoltav Resources unbelievingly screwed up small shareholders by buying them out at a pitiful price just when they were going to make a killing.

[itsriskythat] 29/12/2021 09:16

Have IOG made any mention of when it starts paying for hire of the rig? Is this delay outside of the contracted payment period?

[aimmafia] 29/12/2021 09:09

Next thing will be its run out of triple A batteries

[bountyhunter] 29/12/2021 08:41

All eyes are on first gas now with hiccups along the way seemingly factored in with this company. If they can deliver first gas in Q1 22 without further problems I expect a huge sigh of relief from investors and a relief rally to accompany that, if not who knows. There doesn't seem to be much at all left to do now ahead of first gas but nothing is guaranteed here as we have seen.

[flyer61] 29/12/2021 08:34

Maybe this mornings buyers haven’t seen the RNS or are happy with the long term gas price forecast to still come on board.

Guess cheapest contractors are not always best. What’s the betting these are old ROV’s nearing the end of their working lives…

[dunderheed] 29/12/2021 08:25

256, I didn't expect it too but, they just seem so "accident prone" on relatively immaterial ("simple") issues.

Along with their "appraisal" (lol) track record, it just doesn't instill (any) confidence, IMHO.

[jeanesy] 29/12/2021 08:14

Hasn't affected the shareprice though !?

[fardels bear] 28/12/2021 21:29

Jackdaw was refused because Shell wanted to tie it back to Shearwater, which they operate. If they had accepted tying it back to a closer hub it would have been accepted.

[wskill] 28/12/2021 18:19

After the incompetent refusal of the jackdaw gas development of Shells this year why would they try and destroy all future gas development by a windfall tax .

There is going to be very little exploration in the North sea by oil majors now after this poor decision by OPRED .

Not to mention CAMBO another development which has been sidelined due to OPRED lack of support what is wrong with Norways system they always support development.

[flyer61] 28/12/2021 16:53

Dale Vince is talking his own book. Basically he doesn’t want to have to deal with the inevitable bad debts that will face his business post the big rise in bills that is coming.
Ie he wants the taxpayer to bail him out…cheeky sod.

What’s the call for the morning folks…. Up or down?

[bountyhunter] 28/12/2021 16:43

Sunak rejected that last time as anti-competative and a deterrent to UK development so I don't see that that view will change despite the BBC repeating the story.

[itsriskythat] 28/12/2021 16:35

And in the Guardian too ...

Look how both the pro Labour and pro Conservative media have picked up on the potential for North Sea gas firms to pay windfall taxes. It looks like this government is being backed into a corner by the media as well as the gas and electricity suppliers and will be seen to be ineffective if it doesn't act to curb private profits and reduce gas bills.

“What the government needs to do is step in,” Dale Vince, the chief executive of the energy supplier Ecotricity, told the BBC. “If they really believe the energy prices are too high and truly want to control them then they should subsidise the cost of energy right now.”

“The North Sea operators, for example, supply 40% of Britain’s gas [and] they have made a killing in this crisis because they’re getting paid at nine times more than they were last year – and nine times more than they need because the cost of getting gas out the ground has not gone up,” he said.

[bountyhunter] 28/12/2021 12:40

Unfortunately the Government is being run by the Tory backbenchers at the moment, I wonder how long this can continue before we see a leadership election? So much for following the scientific advice, Boris doesn't even bother with news conferences any more - he just sends out Javid pre-briefed to face journalists on his own. Boris may of course be too busy planning his NYE party to do anything else!

[bountyhunter] 28/12/2021 12:16

I'm afraid I no longer trust Boris either although I did vote for him as a better option than Corbyn at the time. He's lost control of the pandemic and many are now concerned how the NHS will cope in the coming months. The problem with taxing British energy companies more is that it makes them less competitive internationally as well as discouraging investment, so the problem only gets worse as we become yet more dependent on the Russians and other international suppliers who may charge us even more as demand goes up rather than down.

[flyer61] 28/12/2021 12:08

I am afraid a windfall tax could be dressed up in many guises...The 'green agenda' can be used to cover a multiple of perceived wrongs. I just don't trust this Conservative government (not as much though as I would distrust a Labour Government)not to do something daft.

[bountyhunter] 28/12/2021 11:56

Missed that, an easy repeat story for the BBC to peddle at a time when many of their journalists will be on leave. You can always rely on the BBC to rehash such news stories at this time of the year. If UK gas development is discouraged we will just be even more dependent on foreign imports which is what is driving up prices to such high levels in the first place.

[edgar222] 28/12/2021 11:47

https://twitter.com/voxmarkets/status/1475753890419146752?s=21Gervais Williams on IOGat about 19:20

[itsriskythat] 28/12/2021 11:41

And in the Telegraph too ...

Britain’s energy sector faces a crisis similar to the 2008 financial crash, the boss of a leading supplier has warned ahead of a crunch meeting with the Business Secretary on Monday. Neivan Boroujerdi of Wood Mackenzie warned of a potential windfall tax for North Sea oil companies on the back of surging profits.

Mr Boroujerdi argued a windfall tax “cannot be ruled out”, and would meet “strong resistance” from producers “who would typically stop investment in response”.

[flyer61] 28/12/2021 11:33

They started this morning on Radio 4. One should not be surprised.....

[bountyhunter] 28/12/2021 11:28

I presume you are speculating about the BBC peddling a windfall tax on gas producers? I've certainly not seen anything on that for quite some time at which time it was discounted.

[flyer61] 28/12/2021 10:04

So what price action can we expect in the morning.....

A big drop in the share price as the BBC starts peddling a windfall tax on the gas producers or

A significant bounce higher as many more rush in to position for gas prices to stay higher for longer as the supply and demand equation remains out of kilter.