Iog Share Discussion Threads

[hpcg] 12/5/2022 12:52

Cash at year end, 2021-12-31 is in the annual report:

Cash balance at period end of £34.7 million (2020: £80.4million), including restricted cash of £3.4 million (2020: £67.0 million)

[wskill] 12/5/2022 12:06

They must be sounding out about a placing or something if its not the LOG holding could it be IOG requires more cash, with the operational slip ups and elongated time its taken to get the small amount of gas ashore they had £50 million on 30th June 2021 they cant have much in reserve now.Then they will need more options to incentivize management more that will fix the problem of poor operational management .

[hpcg] 12/5/2022 11:01

Yes, several headwinds in the short term, European storage is filling up on a relative calendar basis, great weather for renewables in the UK, threats of windfall taxes. The first of those is completely contingent on China lock downs, and those need to be maintained throughout the summer because the rate of fill has to accelerate. Look forward 4-5 months and an even lower Sterling, a seasonal shortfall in European storage and the UK with a whole 3 days storage capacity spot prices will be quite different. Spot for gas is a terribly eratic market anyway and frankly even futures have been this year. Price in general is still way above normal levels.

[montyhedge] 12/5/2022 10:10

Glut of U.K. gas.https://www.thetimes.co.uk/article/glut-of-gas-in-uk-drives-wholesale-price-down-to-pre-crisis-levels-pd5s5shzk

[marvelman] 12/5/2022 08:48

There has to be something wrong with a system that allows administrators to hang on to a valuable asset without, it seems, making any attempt to crystallise it and at the same time reducing its value by paying their fees from it.

[hpcg] 12/5/2022 08:46

I'm happy to add slowly as price remains under pressure. Its a fantastic opportunity and I am loving the price action here. I thank the market sell off for providing the opportunity to get into a company after it had de-risked substantially at prices from when there is more uncertainty. Mind you, I went into the crash with a lot of cash on hand and run a significant and diverse short book.

[bountyhunter] 12/5/2022 08:30

Relentless and getting beyond annoying. SQZ could snap up this up from loose change but may need to go hostile if LOG won't sell (purely conjecture on my part I should add).

[dunderheed] 12/5/2022 08:23

Is this preparing for the next leg down to say 20p?!
Good old IOG.

[bountyhunter] 10/5/2022 21:36

Russian Gas Flows To Europe Via Ukraine To Stop Wednesday

[bountyhunter] 10/5/2022 18:11

That would be the most likely scenario I would imagine unless the management stand to gain a small fortune from their options and the price was high enough. Buffett can't be too happy, maybe CalEnergy will put in an opportunistic bid while the price is low. (But as you say getting LOG onside first would be the best option for any potential bidder).

[marvelman] 10/5/2022 18:05

Realistically a bidder would surely have to convene with LOG first

[bountyhunter] 10/5/2022 18:03

Shedloads of options some issued not so long ago which would no doubt all crystallize early if there was a successful bid :)

[marvelman] 10/5/2022 18:02

Not sure how much the management have these days

[bountyhunter] 10/5/2022 18:00

What does that add up to in % terms? Enough to block a hostile bid? Maybe SQZ should go after LOGs holding at a premium. It is a bit tricky when IOG management are so coy with the numbers.

[marvelman] 10/5/2022 17:59

Only LOG and the management Bounty.....both have got steady incomes to protect :-))

[bountyhunter] 10/5/2022 17:57

Potentially very significant news re Ukraine.

Nothing to stop a hostile bid FB, who wouldn't vote for it if it was from SQZ!

[itsriskythat] 10/5/2022 15:43

UK NBP Jun 22 future jumps on announcement of Ukraine pipeline force majeure

[fardels bear] 10/5/2022 11:25

Nah. This lot are on their gravy train and not going to give it up lightly.

[marvelman] 09/5/2022 17:19

You read my mind Bounty

[bountyhunter] 09/5/2022 17:18

over at SQZ? they have the cash as well

[marvelman] 09/5/2022 17:16

This has to be a bargain for a company with a decent management team to take it forward...where are you?

[marvelman] 09/5/2022 17:13

Looking at that chart for the very first time a potential investor would think this company is on the brink of bankruptcy instead of a gas producer in what still is a sellers market. What a disaster this is turning out to be.

[bountyhunter] 09/5/2022 16:59

They're probably writing that right now for some more or revalued options at this lower price!

[dunderheed] 09/5/2022 16:42

Only a 10% drop today?
Surely the management team can do better than that?
Perhaps a badly worded confusing RNS will help?
All IMHO of course.

[hpcg] 09/5/2022 11:40

I've bought more at 27.5, but plenty of ammunition left if it goes lower. Plenty of small money making resource companies getting the same. This is what happens in sell-offs, they start to get indiscriminate. Some people I'm sure get margin called. Yes there are question marks here about the amount of gas they will produce, and yes a recession will reduce energy demand, but prices are never going back to the 30-60p /therm range. I am expecting some support here but it could easily pass through to the low 20s, so that's my lot for now.