Iog Share Discussion Threads

[bountyhunter] 18/1/2023 09:00

Pulled my head out of the sand for 2 mins to check the damage!
Re new North Sea gas ...Pensacola? The recent gas discovery there by Shell could indicate a new North Sea gas provence. Back to the sand.

[dunderheed] 18/1/2023 08:57

The bottom line is we (UK) need to at least look at onshore gas frac work - simple.

[kibes] 18/1/2023 08:53

hpcg - There is plenty of gas left in the North Sea. You are unduly pessimistic. Wind power is not going to deliver UK energy needs and neither is solar energy. As for nuclear, we are currently building one small new station (Hinkley) which might be ready by 2027 but contractually could slip to 2036. We need at least 10 more nuclear stations about which nothing is being done. The bottom line is the UK is dependent on gas and we had better start developing more fields (even though these are small). We do not earn enough to buy gas from abroad.

[babbler] 18/1/2023 08:46

Never panic sell on bad news day. Wait for the traders to take it back up on the day then sell.

[oakville] 18/1/2023 08:45

Bought at 8p will sell at 9.6p

[hpcg] 18/1/2023 08:43

I'm out now. Chunky loss for me. There possibly is value, but too difficult for me to estimate, and it is more productive to focus my time on other investment opportunities.

A broader lesson here is that the UK North Sea is pretty much dead. The concept of clearing up previously discovered marginal fields is fraught with danger even at sky high gas prices. There just aren't big fields to find. UK has to turn even more to wind or else earn imported hydrocarbons. Sterling is likely to continue falling, as it had precipitously before the North Sea opened up.

[guy_fawkes] 18/1/2023 08:43

At 5p this would be expensive

[dunderheed] 18/1/2023 08:43

No but about 90% is lost perhaps?!
I'll get me coat and of course all IMHO, DYOR of course folks!

[mally6] 18/1/2023 08:40

Subject to the PLT data, the potential solution would be to isolate water producing zones to enable gas flow from other zones. Relevant equipment has already been mobilised to the rig and would be expected to be utilised over the next week.- If isolation is successful, updated well test results would be expected within the coming weeks which would provide a clearer assessment of the scope for the A2 well to produce gas at commercial ratesDougie Scott, COO of IOG, commented:"Having stimulated six discrete reservoir zones, a low gas rate and apparent formation water production at this stage of the A2 well clean-up is unexpected and disappointing. The production logging tool should provide important gas and liquid flow data to help us calibrate the forward plan, which is likely to be to isolate water producing zones in order to assist gas flow. "All is not lost yet

[kibes] 18/1/2023 08:33

Some heavy buying going on it looks like somebody 2.4 million at 8.4p.

[dunderheed] 18/1/2023 08:31

Evil - there's always been a lot of risk here - just the way the dream team Bod sold it - people didn't truly appreciate - I think I'll go over to LSE and remind them that the very generous potential offer from AA at RRE at 20p should have been snapped up years ago!! There'll still be some "die-hards" denying this of course"
All imHo and DYOR folks!"

[evilblues] 18/1/2023 08:26

Far too much risk here now.

[cashandcard] 18/1/2023 08:24

Not to sound alarmist but they need to do a Hur and start heavily reducing debt, that noose around their necks will tighten in troubled waters.Cash

[robizm] 18/1/2023 08:23

Kibes they get less than half of that at the moment. Everything on Blythe now, no cash for nothing else

[kibes] 18/1/2023 08:19

Just bought at 8.5p. 22 mmscfd is worth having.

[robizm] 18/1/2023 08:04

I reduced my holding by 75% on Monday and just sold the last 50000 shares. Give up on this lot completely.

[kibes] 18/1/2023 08:04

Well this is lousy news, Soutwark sounds like a write off to me. However they are still producing 22 mmscfd which according to my reckoning is 0.22 million therms/day. At around 200p/therm (achieved during 2022) that is £440,000/day or £160 million/year is that correct? Which sounds like a lot of money to me, it is more than IOG market capitalisation in fact.

[bountyhunter] 18/1/2023 07:58

Dream team lol! Maybe if they were making mattresses! Definitely off now, I'll get my coat.

[frazboy] 18/1/2023 07:32

Bad assets bounty. Hydraulically fracking tight gas reservoirs with active aquifers is hugely risky - they have no choice as they have to try to make gas flows commercial. The reserves never existed

[dunderheed] 18/1/2023 07:31

BH no this is the G&G dream team issue.
The writing has been on wall for long time with all the previous optimistic write downs!
IMHO.

[therealdeal25] 18/1/2023 07:27

Morning Guys, oh well it’s is what it is, money can be made, a life cannot have a value put on it!
I only invest what I can afford to lose p, if you stick to that golden rule you can’t be upset, after all life is a gamble!

[bountyhunter] 18/1/2023 07:19

I don't believe it! Water production again!! Is this likely to be down to the competency of the drilling/technical team Dh or just bad luck?
We have A1 I suppose, if down to bad luck that one could be ok.