Iog Share Discussion Threads

[xxnjr] 01/3/2022 09:55

ref 411, it is

"IOG said on Monday that if the Gazprom subsidiary were to become subject to further sanctions, it “would expect to sell this gas to another UK offtaker”. The company added that it already had a separate sales contract with BP’s gas marketing business governing its share of production from Blythe, another field shortly due to start production."

[bountyhunter] 28/2/2022 19:59

Edging closer?

"...the plant will likely not be ready to start backgassing until the week beginning 28(th) February, with First Gas from both Blythe and Elgood around a week later. Albeit frustrating, this delay facilitates a safe and reliable start-up."

[bountyhunter] 28/2/2022 19:52

Any cancelled contracted gas sales to GazProm could no doubt be sold at a higher price elsewhere if gas prices remain anywhere near the current sky high level. We just need to see that first gas delivered!

[robs12] 28/2/2022 19:31

Isn't the Blyth gas going to BP rather than Gazprom?

[flyer61] 28/2/2022 07:44

Come on IOG. It is your patriotic duty to get this gas flowing!

[bountyhunter] 27/2/2022 12:37

We should see a re-rate on first gas - which has proved rather evasive to date. That's the risk premium by which the share price is discounted.

[affc21] 27/2/2022 12:18

Just to add from my previous post, it would need IOG share price to increase by 40% (from 35p to 49p per share) to be on an equal P/S Ratio of 0.85 compared to KIST (all being KIST fundamentals and share price remained static at 370p).

Just sharing a few thoughts...

[affc21] 26/2/2022 13:16

Price to Sales Ratio (@ 35p per share):


First posting here,
comparing IOG and KIST Price to Sales Ratios...


Price to Sales Ratio (@ 35p per share):


90% of max gas rate, I get (thanks to Lemming99 via lse bb):
477,928 Therms = 46,310 mcf per day.


X £18.66 (€25 via Panmure Gordon, Kistos brokers note 2022 gas price forecast) per mcf.


X 350 (days per year)


= £302,450,610 Sales 


...
Hence:


IOG Price to Sales Ratio:


£184,510,000 (Price) ÷ £302,450,610 (Sales) 
= 0.61


I have used a 12 months assumed Sales for 2020, so as to compare to KIST.
...


KIST Price to Sales Ratio (@ 370p per share):


£305,000,000 (Price) ÷ £358,637,892 (Sales)
= 0.85

...
Lots more to consider in an investment choice, but going of the Price to Sales Ratio only, there seems to be more value in IOG.

As always please do your own research.

Comments welcome...


Hello Dunderhead,
Thanks for your comment on the lse bb, considering I'm new to the north sea gas field investing, it's appreciated.

[anley] 25/2/2022 11:12

News from the Press this morning.........

North Sea company with links to Gazprom is IOG, which is working towards first gas for its flagship Saturn Banks development in the North Sea.

IOG signed a deal in July to sell gas from Saturn Banks to Gazprom Marketing and Trading, a London-listed subsidiary of the Russian firm.

There are no sanctions in place against Gazprom Marketing and Trading at present and it should be noted the deal was made as part of a competitive process involving 10 bidders. Should sanctions come through against Gazprom, it is a seller’s market given high gas prices.

IOG just get going as soon as it is safe to do so.......

[bountyhunter] 24/2/2022 08:11

If that first gas was flowing we would surely be a lot higher than this today. Must get there soon I hope!

[flyer61] 24/2/2022 07:39

Given the huge spike in the gas price this morning if the share price doesn’t react positively may well have to call it quits here.

[dunderheed] 23/2/2022 15:03

Agree KS however after the litany of errors which have occurred here I'm more confident in the TXP team than here, IMHO.

Paul may say things he shouldn't but, the company is very careful as to what it RNS's, again fully IMHO.

[king suarez] 23/2/2022 14:59

As a fellow TXP investor you should be becoming accustomed to "slight" delays in the industry? ;)

[fardels bear] 23/2/2022 14:59

I think the share price reflects the wider lack of confidence in the current management team. I don't know what Buffet was thinking of.

[dunderheed] 23/2/2022 14:43

"Slight" delay?
There have been a continual slate of "Slight" delays in recent memory, which cumulatively have added to a major delay, IMHO.
Here's hoping recent share price weakness is just holders taking "certain" profits before a "hopeful" positive re-rating!

[king suarez] 23/2/2022 14:27

We won't know that until the next RNS that says - first gas has started, or... another slight delay, sorry all..

[alxo82] 23/2/2022 11:34

Under the current market conditions, if the UK government sanctions the operation of a company in british soil that sells energy commodities essential for citizens and businesses, it is clear it deserves to be pushed from power right away.

[petomi] 23/2/2022 10:39

Last July IOG announced they would sell the first two years' production through Gazprom's trading arm. Looked a slightly odd choice at the time but I hope they have a plan B now in case Gazprom is sanctioned in some way

GLA

[anley] 22/2/2022 13:26

For those who are not short term holders.

[alxo82] 22/2/2022 10:31

thanks mdchand, my numbers are now totallt out of scope as I planned production for mid febraury. I will update my estimations when they confirm first gas and daily production volumes. BTW I do not like this: * denotes corporate client of finnCap

[bountyhunter] 21/2/2022 20:21

..

Where will gas be in the morning!?

[anley] 21/2/2022 14:38

A sensible Press Release this morning and some good buying as well.

Will be back in a weeks time..............

[mdchand] 21/2/2022 12:06

Broker note out today. Finncap fwiw has an eps of 13.5 for yr end 2022 and a p/e of 2.6.

[dunderheed] 21/2/2022 10:32

H&S are obviously "involved".
They always have a few questions / clarifications and assuming this team are adequate in their preparations (jury's probably still out on that but...) this should really just be "box ticking". If indeed it is more than that it isn't H&S "fault" it will be inadequate preparation and planning by this team.
I'm pretty satisfied this is unlikely - as it will be another (massive) CF if indeed this is the case.
Again it would be nice to have an estimate of the costs of the drilling F'up and liabilities etc and I am disappointed in the late delivery and rubbish cost estimating for the whole of the project but, it does finally look like light at end of tunnel?

As ever all IMHO.