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Share Name Share Symbol Market Type Share ISIN Share Description
Independent Oil & Gas Plc LSE:IOG London Ordinary Share GB00BF49WF64 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25 -1.45% 17.00 16.50 17.50 17.25 17.00 17.25 199,184 08:03:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 15.0 5.1 3.3 83

Independent Oil & Gas Share Discussion Threads

Showing 7426 to 7450 of 7750 messages
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DateSubjectAuthorDiscuss
11/9/2019
06:21
Harvey hit 49ft of gas pay
shareideas1
10/9/2019
16:31
Thanks, was doing the maths, if Harvey hit; then potential cash balance will be £65m (£60m cash payment from f/o deal), I can see £100-150m market cap on success case; 270 BCF (47 MBOE) reserve net to IOG after Harvey success, £65m cash balance with 270 BCF reserve, market cap likely be significantly higher than current cap
mynameiskhan
10/9/2019
15:35
Fair enough although I think you should use the fully diluted share count at 583m for a start. FinnCap reflect the cash payment elsewhere in the net debt line...
shareideas1
10/9/2019
15:16
I've used 341m shares in issue. Even if apply £240m NPV, still it's worth 41p. In case of 50% F/O, company will get extra funds. I beleive, total cash balance will be likely £80-100m, after Harvey Hit. Current m/c is £65m which will be significantly lower than cash balance.
mynameiskhan
10/9/2019
14:45
FinnCap have mid case $100m for 50% which is close to the $230m you say for 100%Using 583m fully diluted shares in issue and an FX rate of 1.2 usd/gbp gives you their 13.8p per share
shareideas1
10/9/2019
14:34
I think HARVEY NPV is £230m, which is equivalent to 67p/share. If 50% farm-out, then net will worth 33p + £40m cash (12p).
mynameiskhan
10/9/2019
14:28
Arguably they should be in mid 20s now that the bond is covered and the farmout is a formality... certainly would expect a move higher on Harvey success, but how high will come down to how quickly LOG want to unwind their holding (subject to orderly market conditions)...
shareideas1
10/9/2019
14:07
Thanks share ideas, do you really think for decent rise on commercial hit? 25-30p?Also, Harvey will unlock JV and additional cash payment from JV partner ?
mynameiskhan
10/9/2019
12:36
...apologies...wrong thread...s/b TRIN
marvelman
10/9/2019
11:39
30,000 added at 11.79...surely we will see that F'ing seller off soon?
marvelman
10/9/2019
11:23
Sounds like a bit of a balls up - must have seriously misinterpreted their imaging?
shareideas1
10/9/2019
11:16
...not even a 90% CoS as in the case of I3E this morning!
bountyhunter
10/9/2019
11:05
Should add that the company has assigned a 63% geological chance of success on Harvey, but nothing is ever certain in life...
shareideas1
10/9/2019
10:54
According to FinnCap's calculations, the Harvey well mid-case (129bbl) unrisked is worth 13.8p per share to IOG assuming CalEnergy take up their option on 50% (likely). They have 8.2p of risked value in their 60p risked NAV based price objective. So for them a successful mid point well would add c.6p (+10%) to their valuation. Using a straight line extrapolation (understates upside case and overstates the downside case) the upside to their 60p target in a bull case outcome (199bbl) is probably c.12-13p (+20-25%) while the downside at the lower estimate (85bbl) is probably zero. Clearly the bear case of no commercial gas find is removing the 8p from their risked NAV (-15%).What is currently in the share price is anyone's guess - at sub-20p per share IOG is probably not pricing anything for Harvey in my humble opinion...
shareideas1
10/9/2019
10:36
What's upside potential on Harvey hit?
mynameiskhan
09/9/2019
15:44
That is true also DH...unfortunately...we await in anticipation
marvelman
09/9/2019
15:40
Yes and no marvel. You could have hole integrity problems that would potentially lengthen well duration as well?
dunderheed
09/9/2019
15:26
My thoughts are based on the statement "two months in the success case" which appears to indicate that it would take rather less than that to know whether it was worth evaluating. Certainly no news for another 2 weeks or so would be more likely to indicate that there is an unlikelhood of a bad result...we sit on our hands for now.
marvelman
09/9/2019
14:22
Don't know the answer to that ... gut says that a month in to the drill they would already know if it was a dud, so the lack of news probably a positive... will try and get a sensible answer, albeit the company are understandably tight lipped right now...
shareideas1
09/9/2019
14:06
RNS dated 7th August stated "As previously indicated, completion of the well is expected to take approximately two months in the success case"....so when could we expect a less than succesful anouncement if that were the case. Shareideas...your clarification regarding the bond application was enough to pursuade me to invest for which I am grateful. You appear to have your finger on the pulse here and has saved me from re-inventing the wheel more than once.
marvelman
09/9/2019
14:05
Malcy: Independent Oil & GasIOG has announced a successful EUR 100m 5 year senior secured bond issuance this morning which takes the company a long way down the route to finalising the funding for their substantial gas project in the SNS. Callable after three years, which is tactically sensible it being 6-12 months after first gas, this fulfills the major condition for the completion of the farm-out process and should lead to its completion and phase 1 FID imminently.Speaking to the company this morning they are clearly delighted after what has been 'a monumental year' and there is now proper sunlight at the end of the tunnel. They are strategically aligned with a blue-chip partner, have drilling underway and can see the project going to phases 1 and 2 without further need for further funding.Whilst gas prices this year have been rather on the low side the longer term strip is still very positive and have clearly not worried the investors in the bond. My other worry about the high equity stake held by the London Group administrator also looks to be overdone as with an orderly market arrangement in place and conversion tightly controlled it should be a stable relationship.
shareideas1
09/9/2019
10:19
To be clear by "they" in the previous post I am referring to FinnCap
shareideas1
09/9/2019
10:19
Guess the reaction suggests that the market never really doubted that IOG would get the bond away (despite some comparisons on here to SXX last week)... Good thing from here is that we presumably have a string of positive news RNS's to come... Farm-OutFIDFDP... Even before we find out the result from Harvey well which could be a real basis changer (IOG share of the well unrisked they see at worth 14p per share)!
shareideas1
09/9/2019
10:13
I'm surprised this hasn't had a better response. It's a big hurdle to have cleared. Well done to the Management.
keisersoze
09/9/2019
10:00
Is on I3e board
costax1654x
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