Iog Share Discussion Threads

[edgar222] 22/10/2022 14:29

AnleyIn my honest opinion, big mistake.Time will tell and I wish you well

[nw99] 21/10/2022 18:52

Near high of day close very bullish

[anley] 21/10/2022 18:19

I have sold all my holding and promise not to post again. My reasons are:

1 The reserves and downgrades are really serious and capital is required to put the water issue in such a position that production (capital cost) can be reclaimed from gas sales over the coming months.

2 Management is now going to come from a finance man who will be looking at the financial structure of the company as it will need fresh capital to cover the water problem + new drills etc and the payment of salaries.

3 There is the debt = Euro 100m + interest which is covered by cash in hand but unless the drilling/production can cover future capital costs then is the company in a financial pickle?

A bidder should buy up the BOND on the Oslo SE at 80cent on the Euro and sit and wait for news from the new management as to how this debt will get repaid in 2023/24. As I say - in the meantime the management will have to make sure that the current gas production can be put right and if so start a sinking fund - ignoring the ordinary shareholders and any dividend requests.

4 I question if there ever will be capital that can be used to develop any further parts of the portfolio and I suspect that the North Sea authorities will also ask for clarification as to the company's ability to progress further licences in the 2023 round.

I am sorry if this sounds like news from the frozen belly of earth but the blame so say friends of mine in the E&P world but someone will come along for the bits and pieces that IOG have - BUT - what will that deal be?

Warren Buffet is in the background as a long stop and he will be asking for the figures - remember he gets cut of gas sales so he must be factored into the equation.

Hence my sale.........

[deltalo] 21/10/2022 16:22

I like Rupert Newall already, he's the man we need to get the jobs done and deliver good news flow by securing the confidence in investors that we have plenty of liquidity and the obstacles like the values and saline will be put right and the new gas field connected as planned for December. All looking good from now on. Enjoy your weekend.

[fardels bear] 21/10/2022 16:21

I shouldn't think so, bh. Her brother lives in Dubai and she doesn't like him either so I could go there I suppose. They have some great FiveGuys in Dubai.

[deltalo] 21/10/2022 16:04

You could be going to Dubai on a Airbus A380 the way this is going. I've said it two days ago at 8p that this is massively undervalued and 40p will look cheap in December- January imo. Atb

[bountyhunter] 21/10/2022 15:55

Does she like China FB?

Good to see the beginning of a recovery here today on the back of the buying by the new directors reported this morning. I wouldn't book any tickets yet.

[deltalo] 21/10/2022 15:44

A long way to go up to 40p as it was a few months ago. Soon as the new field is connected in December and pumping gas we will then see the real big rises above 40p imo. Its exciting time's to see it all get moving forward.

[fardels bear] 21/10/2022 15:20

Bought these for the wife at 35p. One day pretty soon she's going to look at her PF. Do they still do slow boats to China?

[kcowe] 21/10/2022 15:19

Have you an interest here?

[ashkv] 21/10/2022 15:14

Also overlook reviewing the below - IOG are relying on their former CEO Andrew Hockey's "Expert Analysis" - so take their already depressed assessments with a pinch of salt...

Deadcat bounce IMHO - only hope for IOG prior to Dec is a low ball offer or an other corporate deal... otherwise imho it will sell off over the next few months


"Competent Person's Statement

In accordance with the AIM Note for Mining and Oil and Gas Companies, IOG discloses that Andrew Hockey, IOG's CEO, is the qualified person that has reviewed the technical information contained in this document. Andrew Hockey has an MSc in Petroleum Geology and has been a member of the Petroleum Exploration Society of Great Britain since 1983. He has over 40 years' operating experience in the upstream oil and gas industry. Andrew Hockey consents to the inclusion of the information in the form and context in which it appears."

[firestorm911] 21/10/2022 15:04

Ladies and Gents

TWD booming, Trackwise

Upfront payment is bigger than Mcap.

Could 200% or more today. DYOR


Regards,
F911

[ashkv] 21/10/2022 14:58

From 19 Oct RNS

Final connection of the Saturn Banks Pipeline System to Southwark has been affected by a defective 6" valve at the offshore 24" manifold. To enable safe connection, the line will be depressurised ahead of the Bacton terminal November shutdown, requiring an expected overall outage of four weeks.

hpcg
21 Oct '22 - 13:29 - 2626 of 2628
0 5 0
ashkv - your timing is off. Production is ceasing now as they depressurise the pipe line to replace the valve, hook-up Southwark pipeline. This is good because of the relatively low day ahead price while Europe is still warm. There should be ample time to refill the pipe line while Bacton is down for maintenance, meaning delivery resumes as soon as Bacton is up.

[deltalo] 21/10/2022 13:42

This company is rare as it has its very own 60k pipeline direct from the fields to mainland Britton, Now with the war in Ukraine and Russia cutting off the gas supply to Europe, I feel more licences will be rolling out to IOG to maximise gas flow and help towards shortages the uk are now experiencing. We're in the right business now and at the right time imho. I now hold 200k shares that's how confident I am invested here. Atb investors.

[hpcg] 21/10/2022 13:29

ashkv - your timing is off. Production is ceasing now as they depressurise the pipe line to replace the valve, hook-up Southwark pipeline. This is good because of the relatively low day ahead price while Europe is still warm. There should be ample time to refill the pipe line while Bacton is down for maintenance, meaning delivery resumes as soon as Bacton is up.

[ashkv] 21/10/2022 13:20

18p prior to awful news that one of two operational fields has very little recoverable reserves remaining and the other field also having issues - along with one of two Southwark drills not going ahead for now due to issues, and production suspension increased from 2 weeks to 4 weeks in November 2022

At 12p - only a 33% drop for such horrendous news...

[bountyhunter] 21/10/2022 11:22

That is yesterday's news, things have moved on now and the new directors are piling in today.