Iog Share Discussion Threads

[bountyhunter] 25/8/2022 09:47

Yes a buying opportunity HD if I had sold yesterday when I was thinking about it! Unfortunately all funds tied up now though. Even with today's news the market reaction is looking overdone though.

[hiddendepths] 25/8/2022 09:14

Agreed bh.

Not great news for sure but smells like a buying opportunity! Not long for this world imho.

[officerdigby] 25/8/2022 09:11

The asset does what it does, but the management critiqsm here is now that how long have they known this development -.for how long have they been sitting on it.Should be instant update it is the only producing asset and material here right now.Update immediately with plan..Otherwise insiders working it.

[bountyhunter] 25/8/2022 08:45

#2063 That will be BG for you!

Dh that's the first I've heard of the management here being head hunted, except by shareholders perhaps ;-)

On a serious note the assets and potential development allowances here must surely be attractive to a company such as SQZ or HBR though?

[dunderheed] 25/8/2022 08:45

Will they be producing "that much" by then though BH, who knows with this motley crew lol!!??

Tell you what though, give them some more LTIPS, as there are so many other companies head hunting the "management" here, so we really need to incentivise them more to stay, lol.

[bountyhunter] 25/8/2022 08:41

There is some hedging mentioned, maybe more post Southwark. Winter prices do look ridiculously high so even IOG should be raking it in despite the reduced production which presumably will only be temporary while assessing the source of the salinity fluids.

In early H2 2022 we started implementing our hedging strategy, fixing 30,000 therms/day (2.7 mmscf/d) for the months of August and September 2022 at 310 p/therm and 444 p/therm respectively.

[mikeh30] 25/8/2022 08:39

They were bidding 37.25 on open. Great price

[anley] 25/8/2022 08:32

Poor presentation as it gives no view like Harbour does on forward prices to production to debt payments which would give shareholders some idea as tofuture profits.

I have turned a seller if the shares rebound to 40p........................

[bountyhunter] 25/8/2022 08:32

I nearly sold here yesterday Dh thinking there might be the odd hiccup thrown into today's RNS but now I'm holding awaiting Southwark and beyond.
Just look at the prices in the header today. Most of the rest have outperformed IOG. On the positive side I guess the chance of a takeout increases as Lombard continue to sell down their stake. I don't know how much management, Log and Lombard now hold between them.

[kibes] 25/8/2022 08:31

'Gross 2H 2022 gas production guidance adjusted to 30-50 mmscf/d range (from 45-60 mmscf/d' - These people are just blowing in the wind hoping for the best.

[xxnjr] 25/8/2022 08:10

Well if it helps, according to the EIA, hydraulic stimulation takes about 25 days + 6 days clean up. 31 days total for each well.

[bountyhunter] 25/8/2022 08:07

Yawn. Head in the sand time here again until Southwark comes online or a bid takes us out.

[bountyhunter] 25/8/2022 08:05

I would prefer not to Dh given my investment here :)
Expecting my 37p average to be underwater again for a while. No mishaps or delays with Southwark I hope and a little clearer timing on that might have helped given that we are only a week away from the start of Q4.

[dunderheed] 25/8/2022 07:58

Can you imagine where we would be, using the original pricing of the revenue estimates by the "management" team, FFS?

[robizm] 25/8/2022 07:57

They have not resolved previous issues. Those 2 fields could produce 90 mcf a day and they are now quoting 15 to 25 mcf so issue is not sorted. Q4 start for Southwark is that 1st October or 31 December. The market does not trust the company and they have to prove the market wrong which they have yet to do.

[uncleoswald] 25/8/2022 07:55

Saved by high gas prices.

[melody9999] 25/8/2022 07:50

Management have a habit of reporting every issue - issues which might be expected with new production. They will resolve these as they have resolved previous issues.

[bountyhunter] 25/8/2022 07:36

You wouldn't think it would take long to source the problem by alternating the two supplies. I'm surprised they need to alternate for any length of time.
Saved by the high gas prices as I said, yes winter profits should be far higher than expected regardless of the issues. Good to hear that Southwark remains on track for first gas Q4 which should be great timing for first gas there.

[lord gnome] 25/8/2022 07:33

Sorry, I don’t agree with the doom and gloom. Firstly, if there is a technical problem with one of the assets, how will a management change alter anything? Unless of course the new management have a magic wand. Secondly, we are talking about a company with a market cap of barely £200 millions. Given the forward gas prices, then even at the forecast output they will be very profitable and very cheap.

[officerdigby] 25/8/2022 07:32

Just a tech question.If it is 94% gas are high saline fluids really a bother in the 6%.?Or just good practice.tonslow things down and attempt to source the problem?.Thanks.

[bountyhunter] 25/8/2022 07:28

No prizes for operating prowess remaining in division 2 there. Saved by the ever increasing gas prices again.
-- Strengthening gas market conditions during the period and particularly since period end
o Volume weighted average gas price of 149 p/therm in 1H 2022

o Rising to 254 p/therm over 2H 2022 to date

o UK NBP gas Winter-22 contract currently >600 p/therm and Summer-23 >500 p/therm

Also some hedging at high prices.