Iog Share Discussion Threads

[guy_fawkes] 21/10/2022 11:18

Management Chancer's falling on their own sword.

[givmesunshine] 21/10/2022 11:06

Someone acclimating these in the background IMO .. very resilient for the amount of small sellers..

[deltalo] 21/10/2022 08:37

Director's buying up cheap shares before they begin to release the positive news flow as we move towards Xmas. I see 20p coming soon imo.

[nw99] 21/10/2022 08:27

Buy any dips target 22p

[bountyhunter] 21/10/2022 08:10

#13 hi Dh I would have done if I had some free cash and was not already overweight here!

[bountyhunter] 21/10/2022 08:06

Dunders and ash, agree entirely re the f word. Money for less than old rope. Fortunately not CEO or FD or operations so maybe the new management can pull things off from here, judging by today's RNS they must have confidence that they can.

[bountyhunter] 21/10/2022 07:56

Directors piling in including 600k for the new CEO.

Clearly way undervalued at this level assuming they can get Southwark online even if one of the wells takes a bit longer. Then there are other developments to follow up with.

[dunderheed] 21/10/2022 07:43

Ah 2609 see 2610 cross posted!!

[dunderheed] 21/10/2022 07:41

Ah can see Ashkv beat me to it.
Fiona is certainly way way over paid at IOG but, I suppose you could say minimum wage would be as well? IMHO.

[ashkv] 21/10/2022 07:40

Dunderhead kudos for you to mention about her - I used to advocate the same when she was an overpaid do nothing at Rockhopper for years on years... cushy gig to be a corporate aristocrat....

"When oh when, is that (totally) useless Fiona going to get sacked though?"

[ashkv] 21/10/2022 07:39

Not without reason - 19th RNS was 3rd strike if I recall in a line of downgrades of guidance...

"The share price was around 40p late August, so down more than 72% in around 8 weeks, pretty savage!"

[dunderheed] 21/10/2022 07:36

Surprised no one's mentioned about director purchases..
Whilst there is a nasty taste in my mouth brought about by directors purchasing at such low self perpetuated prices, it is a good sign to see them buying.

When oh when, is that (totally) useless Fiona going to get sacked though?

[ashkv] 21/10/2022 07:32

Great that some buys announced today from management / directors - but chicken feed in context of market cap / bloated salaries

[bountyhunter] 20/10/2022 20:11

and there are further planned developments beyond Southwark potentially tax deductible and a new licensing round, it's not all over by any means although yesterday's overdone drop might have made many think so, the new management team could turn things around

[ruedolf] 20/10/2022 19:47

Southwark is twice the size of the other two fields put together so southwark production could be double what there producing currently even on one well. water issues are hampering production at other wells so once they find and block off where the water is coming in production should recover.

[ashkv] 20/10/2022 19:32

Company is not pulling anything in November as production shut per 19 Oct Operation Update RNS

Also field production is declining

Southwark target is for Dec - and that is if all goes well... who knows if it will - given recent performance would put give 10% probability on Southwark Gas in December.

And hopefully Gas prices resume upward trend as at current gas price IOG is not making the figures you have put forth...

Ruedolf
20 Oct '22 - 19:20 - 2600 of 2600
0 1 0
The company is pulling in 5 million a month based on lastest cash at bank figures , production set to double or more from mid december, should be pulling in north of 10 million a month in 2023. plenty of funds to pay bond plus 8p dividend plus funds for capex.

[ruedolf] 20/10/2022 19:20

The company is pulling in 5 million a month based on lastest cash at bank figures , production set to double or more from mid december, should be pulling in north of 10 million a month in 2023. plenty of funds to pay bond plus 8p dividend plus funds for capex.

[bountyhunter] 20/10/2022 18:36

I was correcting anley's post stating £100m debt ash as opposed to 100m Euros and clearly not to repay over the next 18 months as was stated as there is "no debt maturing until the second half of 2024."

[ashkv] 20/10/2022 18:22

Serica 320p share price Enterprise Value/Flowing Barrel FY 2022 Production Guidance Mid-Point: $16,290

IOG as of today at 11p share Enterprise Value/Flowing Barrel H2 - 2022 Production Guidance Mid-Point: $31,960

Kistos similarly waay cheaper than IOG

I am wary of windfall tax extension (hopefully doesn't happen now that Liz Truss has gone) otherwise why would I invest in IOG versus SQZ, KIST, HBR etc - firms which are steadily building cash and value being created... games being played and their shares are depressed... IOG at 11p is fair value for risk.... might go up from here and it hopefully does for long term holders.

When IOG cheaper on an EV/Flowing Barrel measure than SQZ/KIST I might consider re-entering IOG...

In November no barrels will be flowing for IOG due to extended shutdown...

[bountyhunter] 20/10/2022 18:10

That's €100m not £100m and clearly not to repay "over the next 18 months".

Southwark drilling costs should be 91.25% tax deductible.

[ashkv] 20/10/2022 17:58

100mn bond matures in September 2024 so 20-21 months to go..

IOG could be understating added drilling costs from Southwark as unlikely has been billed for the same. Furthermore IOG entering a period of cash burn as production shut down for a month in November - when gas prices should be elevated. Hopefully no field issues on resumption of flows - as every one of the recent updates has been more downbeat as to production..

hxxps://www.annualreports.com/HostedData/AnnualReports/PDF/LSE_IOG_2021.pdf
£11.6 million convertible loan, 5 year facility 23 Maturity September 2024

€100 million Bond
The Group’s €100 million 5-year senior secured Bond was issued in 2019 in the name of Independent Oil and Gas plc
(the former name for the Company) to a range of institutional investors across the Nordic region, Europe, UK and Asia.
The bond has a bullet repayment structure, with a maturity date of 20 September 2024, and an interest rate, payable
quarterly, of 9.5 per cent per annum over the three-month EURIBOR rate (with a floor of zero when this rate is negative,
as it is at the time of writing). The Bond has a senior secured position over the Group’s licences and infrastructure
assets, as well as any further licence in which the Group takes an ownership interest during the tenure of the Bond,
such as the newly acquired P2589 Panther-Grafton licence. Bond funds can be used to fund Phase 1 capital
expenditure, financing costs and general corporate purposes