Iog Share Discussion Threads

[forfaiter1] 02/8/2023 18:33

H2 falling back from 32 to 26mm does not seem to be worrying the bondholders ....granting an extension.....didnt the company say production of H2 would be between 20mm and 30mm....over time....

All down to the gas price now with the possibility of adding production from H1 and elgood if winter gas prices improve....

[forfaiter1] 02/8/2023 18:28

No administration or D4E yet.....they live to fight another day....

[loglorry1] 02/8/2023 18:18

The H2 well declined from 32 to just 26 mmscfd in about 2 weeks. That's with 95% uptime.

No mention of condensate produced either so maybe that's gone now.

[bountyhunter] 02/8/2023 18:17

I think it must have been a relief rally i.e. suspension/administration not happening yet, albeit short lived. They can't kick the ball down the road for ever though.

[genghis_khan_] 02/8/2023 18:07

How come people got suckered in, they did not read the rns?

The price actions indicate people just taking off, as quickly as possibly.

Someone has been selling ten of millions of shares today.

Would be nice to know which II are bailing out first.

[loglorry1] 02/8/2023 18:05

The only working well doesn't produce enough free cash flow to service the €105m debt at 14.5% let alone repay any of it.

Remember they only have a 50% share and out of that 50% there is a 20%+ royalty gas to CalEnergy. We don't know the actual royalty it could be 40% we only know it goes up as volumes of gas produced goes down.

Oh and now we learn it's declining already after just a month

[irondick] 02/8/2023 17:49

Two months extension, and what happens when August comes, another -60% of the share price?


Interest post, equity debt keeps the debt out, use shareholder funds to pay the debt holders, then in a few month's time, put in administration.

[moonshine3] 02/8/2023 17:44

Magnificient/Kimchi1 other wonder share.

-36%




kimchi13 Jul '23 - 09:01 - 2316 of 2356
0.000911 1 0
Clifford Elphick, Non-Executive Chairman of ZIOC, commented:

"I am pleased to report that ZIOC has launched a process with its Chinese EPC Partner to secure Chinese contractor pricing and to update the cost estimates of the 30Mtpa Feasibility Study, while also considering the application of new iron ore processing technology to reduce estimated costs further.

Furthermore, port infrastructure discussions are underway with a large port infrastructure development firm seeking to expand the existing port of Pointe-Noire. Consideration is also being given to potential development solutions for a large bulk mineral port capable of supporting the 30Mtpa staged development project.

2022 was apivotal year for ZIOC, with the controlling shareholding of the Zanaga Project being acquired from Glencore in exchnage for shares in ZIOC. The streamlining of the ownership and control of the Zanaga Project enables ZIOC to now engage with strategic entities interested in participating in the Zanaga Project going forward, and ensures a single unified voice engaging with collaboration partners on the ground. It is pleasing to have secured the support of Glencore for this initiative and I look forward to working with the Glencore team in unlocking value from the project for all stakeholders going forward. "


--

Just for a bit of fun have taken a punt at under 10p, knowing full well it could be a loooooong-term investment, lol.

[bountyhunter] 02/8/2023 17:40

Precisely, the ball has being kicked down the highway to hell again. Glad I'm out, this 'investment' has been a disaster but at least I have retained something rather than nothing. Lesson learnt.


"Subject to approval of the proposal, the repayment price of the Bonds will be increased to 105% of par value and the Call Option and early redemption prices increased by 5 percentage points."

Repayment with monopoly money? Or are the BoD going to forego their paychecks?

[loglorry1] 02/8/2023 17:34

Shareholders should be over the moon with that extension but it only puts off the inevitable.

5% bump makes no difference because they can't afford to repay it anyway. I guess the BH game plan will be to convert 10% into equity at 0.1p at some point in the autumn, when they are back from Tuscany, and also wipe out the CLN in exchange for a extending maturity. At that point it only really costs them 5% so the company still will owe €95m and shareholdeds will be wiped out.

No doubt Robbie and the many similar Robbies out there will spew bilge for a while longer but the end game is the same.

[1speedster] 02/8/2023 17:18

How do they do early redemption when they lack the funds to pay up?

Unless a massive Rights issue, 1-50. If they increase 5% to par, I can't see any other way.

[1speedster] 02/8/2023 17:12

I suspect you are not listening in detail to what he is saying. It's synthetic trading. Doubt you understand this type of trading.

Short derivatives, then go long via shares trading for intraday bounce, then they dumped their long.

They will keep their substantial short positions (via derivatives, usually at high points).

In his case, I suspect his synthetic trading is a short straddle, biased on the downside. You do not really believe he's your typical mug punter, right?

[bountyhunter] 02/8/2023 17:07

Entering Cloud Cuckoo Land...

"Subject to approval of the proposal, the repayment price of the Bonds will be increased to 105% of par value and the Call Option and early redemption prices increased by 5 percentage points."

Double or quits?

[g2theary] 02/8/2023 16:54

:D the guy that announces short in the morning and long as soon as his 500 quid was wiped out in his little trading account... topping back up frantically to try and get his giro back :D poor F911 ... always wrong ... ALL, PMG & here .. not to mention many other times :D

[firestorm911] 02/8/2023 16:20

Dumping in the close. 1.5p close?

who Knows.

Regards,
F911
RMC

[firestorm911] 02/8/2023 16:13

I am afraid 0.1911p is coming. Desperate mugs here.

AFRN Redux 2

Sell before it's too late.

Regards,
F911
RMC

[billthebank] 02/8/2023 16:08

Grabbed some at 0.1991!!!!!

[billthebank] 02/8/2023 16:06

Or even 4p 0r 5p 0r 10p???

[billthebank] 02/8/2023 16:05

So how long till it breaks 3p?

[firestorm911] 02/8/2023 16:04

Yes I am having larf.

Regards,
F911
RMC

[billthebank] 02/8/2023 16:02

Si you reckon IOG is a 20 bagger from here.You are having a laugh

[firestorm911] 02/8/2023 15:50

20bagger at 0.1911p. go back to skool to learn how to read engerlisch.

Regards
F911
RMC