Iog Share Discussion Threads

[robizm] 19/8/2022 12:36

It will be 25% on top of the 40% they already pay. They must be spending at least £80 million (gross) on Southwark but not sure how the farm in contribution is accounted for.

[dilip40] 19/8/2022 12:35

shes made many u turns social demo to conservative remainer to brexit etc

marvelman just trying to work out what sort of profits iog will make once southwark is running and what gas price to assume going forward most of my holdings i can work out roughly expected profits for next 12 months

[marvelman] 19/8/2022 12:32

Max..the WT is charged against NS oil profits on producers not re-sellers (yet)

[maxidi] 19/8/2022 12:29

I thought the w.tax was for the big supply companies e.g. Octopus, eon, CNA, edf etc.

Truss said she wants to encourage N.Sea supply and gas storage, Fracking and the like
so she shouldn't kill the golden goose, BUT, she is a Politician so watch this space!

[robizm] 19/8/2022 12:19

With all the capex will they pay any windfall tax this year as surely than can be set off as investment.

[marvelman] 19/8/2022 12:16

ditip...I cannot see any tax (CT) being due once PY losses are taken into account. There is a while yet to this tax year end and surely there will be some capex before then to set off against the WT

[dilip40] 19/8/2022 11:32

seems iog is 40% of net profit before tax then 25% windfall tax

has anyone done any figures including southwark next 12 months assuming gas at average £2.50 elgood and blythe producing 50 mmscf and southwark flowed at 70mmscf so say will be producing 50mmscf total 100mmscf and 40% if that is 40 mmscf to iog.

[thelongandtheshortandthetall] 18/8/2022 15:09

'The best way to buy stocks for me is to get into the shorter mindset. Would you short any pure North Sea gas play going into winter?'

Good way to look at things. I like that :)

[maxidi] 18/8/2022 12:40

MrScruff

That's quite comforting. Thanks!

[mrscruff] 18/8/2022 12:16

All your buys make sense considering today we stand at -2 to -3 percent YTD and in comparison to KIST +40 percent and SQZ +70 percent you have to wonder if a formal (if failed) bid is needed to generate the PR needed for a leg up! Hopefully not and we are the smart money performance chasing these that have PR generated momentum upwards with net buyers who often just buy on past performance.

The best way to buy stocks for me is to get into the shorter mindset. Would you short any pure North Sea gas play going into winter?

Let's see where we are in December.

[maxidi] 18/8/2022 10:24

Me also. My buy went through as a sell !

[bountyhunter] 18/8/2022 09:56

Another small top up today so it will probably head down again now lol!

[mrscruff] 18/8/2022 09:26

It's hugely frustrating not being given regular numbers by any of these small gas players. So I am keen to see others numbers on IOG... the way SQZ did final numbers at the end of the year was very creative!

70p/therm as the long run seems about OK if the long run is 3-5+ years time... maybe a tad more. In the mean time can we have double our market cap in cash within 3 years and in addition also pay for what was in the presentation regarding growth? Do this all without debts and eventually pay silly dividends. The great unknown to our advantage as a PI is how long these prices stay.

[hpcg] 18/8/2022 08:57

Frazboy - My interpretation from a revenue point of view is also 40%. What I don't know is the tax situation. I've used 40% as my net share in my models. The royalty is capped at £91m so I have assumed the cost to IOG will be exactly that but I haven't incorporated it into an NPV estimation as yet. Obviously there is huge difference depending on the strip one uses. Just using 40% as a net interest is conservative but possibly too conservative. For example I've seen a brokers note using 70p/therm as the long run assumption but personally I think that is far too low.

[robizm] 18/8/2022 08:38

That revenue royalty will be paid off quickly at current prices.

[robizm] 18/8/2022 08:37

Yes Iog receive 40% of gross revenue after caper etc.

[frazboy] 18/8/2022 08:22

A quick clarification required from one of the more keen watchers of IOG, from the recent presentation by the company:

"revenue royalty 20.2% of IOG’s net share payable to CalEnergy Resources (CER)"

This is for Phase 1. My take is that it's a a 50% WI, and then from the gross income from that 50% WI, 80% of net income is retained by IOG. Is that how others are understanding this? There are no accounts to verify this against, since production started in March.

[mikeh30] 18/8/2022 08:22

KIST/SQZ have cash to burn. This will be bought out

[bountyhunter] 18/8/2022 08:04

or SQZ who have cash rather than paper to offer

[bountyhunter] 18/8/2022 07:36

It's so close I've put that at the top of the header for now so we can keep an eye on it! :)

[bountyhunter] 18/8/2022 07:31

Well spotted tidy...



One for the header!

[tidy 2] 17/8/2022 22:40

Golden cross 50/200 almost on it guys. All north from here.

[bountyhunter] 17/8/2022 20:42

My lowest priced buy was at 16p in May 2018 - since sold for a decent profit. I'm not a trader but buying and selling IOG seems to have served me well over the last few years. I do hold quite a few of these now having topped up on first gas hence the average but I'm happy to hold for some time now.