Iog Share Discussion Threads

[bountyhunter] 20/10/2022 17:23

£100m debt to repay over the next 18 months?

2 months ago the company said:
"The Group has reported cash of GBP12.3 million and net debt of GBP78.3 million, with no debt maturing until the second half of 2024."

Debt not as high as £100m (edit - as it's actually €100m not £) and there is now £36m cash confirmed today with more coming in and development costs 91.25% tax deductible.

[anley] 20/10/2022 17:10

Call it £100m of secured debt to repay over the next 18 months.............

Therefore NO MORE SLIPS either in drilling/production otherwise death......

[bountyhunter] 20/10/2022 16:48

Just read the lunchtime update, £36m cash with Southwark yet to come online in December, £56m market cap with no cash raise needed confirmed, no wonder this is on it's way back up!
Ok I know there is still debt to consider but yesterday's savage drop was clearly way overdone.

[billthebank] 20/10/2022 15:57

Cheers,dunderheed and I think your avatar is top drawer.

[deltalo] 20/10/2022 15:55

My iPhone has a mind of its own, sorry for the broken English, It's going up from here is basically what I'm saying as it's very much undervalued.

[deltalo] 20/10/2022 15:51

Prou do 15p + tomorrow as The nosy have reassured investors that all will be running asap and no need for financing. Where's the idiots who were saying they would yesterday. Enjoy the ride here now. Atb

[officerdigby] 20/10/2022 14:56

Dunder,You seem to know a thing or two on the assets and perhaps their quality.As in things that Joe Punter can't judge from IOG CPRs and presentation etc..Could all IOG assets be this bad I begin to wander?

[dunderheed] 20/10/2022 14:48

Ashkv, I am assuming you wanted to get in lower?
Mate so did I as I thought it had 5p all over it but, I think that train has left the station, so have averaged down today at or around 10p.
Best of luck all.

[deltalo] 20/10/2022 14:43

It's all looking good for the company and us shareholders. I'm looking forward to the positive progress in the coming weeks/ month's that will reward the shareholders. Very positive and reassuring update I must say..Rupert Newall, CEO of IOG, commented:"Following yesterday's update, and with 2022 capex guidance unchanged, it is important to reassure our shareholders that IOG has sufficient liquidity to work through current operational challenges and that the changes announced this morning do not imply any upcoming capital raising plans.The new IOG management team is working constructively to take ownership of these challenges and rebuild shareholder value. Our near-term priorities are to restore Saturn Banks production as early as possible after the Bacton terminal shutdown, bring Southwark onstream in a safe and timely fashion, and advance our plans to optimise Blythe production. We also look forward to progressing our exciting portfolio of appraisal and development opportunities. I look forward to keeping investors updated."

[ashkv] 20/10/2022 14:42

on-current liabilities: £112.0m (31 Dec 2021: £107.5m)
− €100m Senior Secured Bond: £84.8m
− LOG Subordinated Convertible Loan: £9.3m
− Decommissioning provision: £16.6m


tidy 2
20 Oct '22 - 14:40 - 2584 of 2584
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How much debt does IOG have to service?

[tidy 2] 20/10/2022 14:40

How much debt does IOG have to service?

[ashkv] 20/10/2022 14:40

No change in management in HUR - just much higher oil prices as its lows coincided with rock bottom oil prices... Currently 7p and was 60p plus.. What is IOG high price? In the 40s... going by your logic of comparing with HUR - IOG would be fairly valued at 6-8p...

deanmatlazin
20 Oct '22 - 14:37 - 2581 of 2582
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Remind me of HUR. From 1p up to 10p due to change in management :)

Hope IOG can do the same

[ashkv] 20/10/2022 14:38

At 11p - IOG down only 40% with one of its producing fields effectively written off, production shut down for a month, and drilling in Southwark which is not going well and it would be a miracle if commercial gas flows start prior to year end...

[deanmatlazin] 20/10/2022 14:37

Remind me of HUR. From 1p up to 10p due to change in management :)

Hope IOG can do the same

[tidy 2] 20/10/2022 14:37

Put your dummy back in Somebody will pick the toys up for you sit tight.

[ashkv] 20/10/2022 14:35

If the firm in administration that holds a substantial share starts selling IOG Plc - today will be a short lived dead cat bounce...

Things must be bad for the CEO to go...

[ashkv] 20/10/2022 14:31

That IOG fields are not performing as to expectation - makes it a high risk acquisition..

Need consistent production and fields to perform - selling part/farming in a partner on Southwark and upcoming drills makes more sense... as a tax write off for KIST, SQZ etc

[farrugia] 20/10/2022 14:27

what would prevent KIST or SQZ from swooping in for a takeover of IOG now?

[tidy 2] 20/10/2022 14:21

Order being filled with 100k clips.

[ashkv] 20/10/2022 14:20

Not cash rich - very much deep in net debt..

If Southwark doesn't come in - it could be very very tricky.

I am staying out... will wait for dust to settle...

Based on IOG current production KIST and SQZ cheaper by far... why would I buy this share... same guys who were working with the departed CEO and COO

tidy 2
20 Oct '22 - 13:06 - 2553 of 2574
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Cash rich

[bbluesky] 20/10/2022 14:17

What a fantastic day - Hockey and Truss!

One part of the RNS I particularly liked:

"We also look forward to progressing our exciting portfolio of appraisal and development opportunities."

Warren Buffet is a strategist and wanted to get into Natural Gas and energy recently buying a big stake (20%) in Occidental Petroleum and Cal-energy are there to soak up all those N Sea opportunities that are coming. IOG is a vehicle and with a new pilot and co-pilot I believe there is a very good chance of mega success. GLA

[dunderheed] 20/10/2022 14:10

Massive tick up for management- no inverted commas thus time - weirdly I'm well happy when though still large percentage down.
All we need is some director buys WITH THEIR OWN CASH and that us the icing on the cake!!

[tidy 2] 20/10/2022 14:07

CEO probably buying now causing the climb.

[deltalo] 20/10/2022 14:01

This is now the share to be in. Plenty of upside imo

[farrugia] 20/10/2022 14:00

i think the announced cash position has calmed nerves. The previous RNS was simply worded in an awful manner.