Iog Share Discussion Threads

[dunderheed] 14/6/2022 13:07

MM / BH / FB I'm pretty sure they were aware of the gravy train they could create and their respective market values (starting with Fiona at the top lol, ahem!!) - so this probably impacted their decision to not even converse with RRE - understandable - but shouldn't have been allowed - however it was the small share-holders at the time - who should have collectively objected - so it is fundamentally "our" faults.

I think we could have easily got 5%-10% holdings prior to the ridiculous "II give aways" - but we entrusted the "management" and look what it got us - large dilution which reduced our influence - and let's face it organising a SHAG is a task is like herding cats - hence BOD's can get away with far more than they should do sometimes?

All IMHO of course!

[fardels bear] 14/6/2022 13:05

I'm offsky. I keep telling the wife to hold but I'm regretting ever suggesting them now. This has just been a catalogue of disasters.

[bountyhunter] 14/6/2022 12:58

You two beat me too it! Where's FB in anticipation of the celebratory party for the next great RNS when need him!? Added AXL to the header by the way if anyone else is interested in that one.

[marvelman] 14/6/2022 12:55

Regarding the RRE bid it is now clear the BOD grossly underestimated their own incompetence

[marvelman] 14/6/2022 12:52

Yes the dreaded “operational update” heading our way. Rejoice

[dunderheed] 14/6/2022 12:47

Looks like we will be getting an update RNS soon - say when the share price has dropped a further 10% - with the RNS arrive late to explain "why"?

I tell you what though - it's imperative the ever excellent Fiona and team remain to be on-hand to "solve" the issues!
It'll soon be below the "mooted" RRE take-over price of 20p years ago - which probably would have crystallised a 25p price anyway which the excellent BOD refused to even discuss with RRE, lol!!

IMHO.

[bountyhunter] 13/6/2022 14:50

Fair points hpcg.

[bountyhunter] 13/6/2022 14:50

If swimming in a sea of self granted share options doesn't incentivise them I don't know what will. Any ideas Dh? ;-)

[wskill] 13/6/2022 14:34

I think management requires more incentives after their recent problems that will fix the poor operational performance.

[hpcg] 13/6/2022 14:03

I agree completely that only the large holders are important, and yes instant liquidity for them is on the face of it attractive. However cash is not an attractive asset class at this time as it is losing value every day. Gas on the other hand will be worth much more in the coming winter.

[bountyhunter] 13/6/2022 12:30

It's the major shareholders such as Log that are important. A 60% premium above the market price if offered would quite possibly be attractive to many of them imho. Even Mgmt might be tempted given the shedloads of options they have granted themselves that would crystalize at any realised offer price. Also a 60% premium would be attractive to me given the recent track record here and I have held these for some time (and topped up at around 40p a while ago now); DH has also mentioned 38p as potentially acceptable so you are only speaking for yourself. I understand your wishful thinking but the share price reflects the market's value for this company right now given the recent track record of ongoing problems and delays - hopefully that will improve!

[hpcg] 13/6/2022 12:09

No new holders, apart from short term traders, would take that. I've been a share holder for less than 3 months and I'm not accepting 40p. We will see a gradual replacement of the old and jaded shareholders that have had their money tied up for years with a new forward looking cadre that would rather own gas in the ground and gas production than Pounds Sterling.

[bountyhunter] 13/6/2022 11:28

sp/dh I do hope you don't need to use the 'mega' version going forwards lol! WB's patience must also be running out, not just ours.

[bountyhunter] 13/6/2022 11:25

The normal premium for bids is not a percentage on top of a previous high, it is a percentage above the current price at the time of any bid. A 60% premium on the current price would be 40p. I would take that personally.

[dunderheed] 13/6/2022 10:56

I'd happily take "38p". (per share).

[bountyhunter] 13/6/2022 10:41

The market norm is a 40-50% premium which in the current climate I think many large holders excluding Mgmt of course would seriously consider. Certainly a 60% premium @40p might do it given the infamous catalogue of problems and delays here.

[hpcg] 13/6/2022 10:40

Too many large holders to get a bargain price for any purchaser. They'd have to offer 60p or more as a minimum in any case.

[dunderheed] 13/6/2022 10:16

Actually whole of my portfolio taking a battering this am.
I3E / JSE - relatively safe holds - similar share price movement - the difference being they have decent management and have recently had a strong run?

Thanks MM, it's good to be appreciated, I like to think I can contribute to an "erudite" conversation in that earlier manner, regarding IOG.
Nothing will surprise me now with this crowd - but I'll tell you what - for nothing - they need incentivising to stay at IOG - because there is a long queue of suitors chasing them every day!

[wskill] 13/6/2022 10:10

What can have gone wrong now ,was hoping for some good news for a change ,Southwalk is drilling ahead we are pumping gas into Bacton we are we due to hit target depth in Southwark in the not too distant future.

[marvelman] 13/6/2022 09:53

DH...your use of the English language applied to describe this companies constant stream of bad news "operational updates" is spot on