Iofina Share Discussion Threads

[battery] 14/8/2013 23:50

tick.... tock....


tick.... tock....


tick.... tock....


tick.... tock....


tick.... tock....


That's the sound of a timebomb ticking down to detonation. The timebomb the shorters are sitting on.


(With due deference to anger taxes....)
.... watch this space

[angel of the north] 14/8/2013 22:48

Hurricane. 14 Aug'13 - 22:22 - 7047 of 7049 0 0
CEO and CFO news imminent

These are my Only concerns about my investment.

[rogerbridge] 14/8/2013 22:34

Still here and waiting for events to unfold.
Hurricane, nice to hear from you, are we talking about hours or days?

[freshvoice] 14/8/2013 22:32

Hope you are correct again Hurricane.

[hurricane.] 14/8/2013 22:22

CEO and CFO news imminent

These low prices won't last long

IMO dyor

[hitsha3] 14/8/2013 22:18

Can someone explain to me how water can change this company and how long we may how to wait for permit?

[superg1] 14/8/2013 21:00

Re FUM

I haven't seen this anywhere mentioned.

Looks like they have started to launch PET500 finally. Digging does work

[superg1] 14/8/2013 20:42

A recent report re the Chile mining turning to seawater, due to cleaning fresh water.

As can be seen it increases operating costs for obvious reasons.

[malachey] 14/8/2013 20:38

oh, unless dnair is right...

[malachey] 14/8/2013 20:36

thanks durden, I will give them a call then as I didn't seem able to do it online when I tried.

[dnair28] 14/8/2013 20:14

Unfortunately only cleared funds can be moved between iii trading and isa accounts.

[durden82] 14/8/2013 19:05

Malachey,iii should let you invest the proceeds of the sale immediately, the time delay to await money clearance is only for when you want to withdraw it.

[dorset64] 14/8/2013 16:26

Superg1, they could also reduce their FRP build costs even further by buying direct from the Chinese suppliers. I have also visited one of the largest manufacturers in China which, in turn is bigger than any factory in the UK or US. An absolute amazing place and for those that say Chinese imports are poorly constructed, really don't have a clue.

[superg1] 14/8/2013 16:22

Rug

Interesting.

It shows the power situation being sorted with generator back up, and plenty re the SWD's.

The comment re challenges on produced water tells you that, as we suspected the Miss lime produces a lot of it.

IOF switched to frp and now mention maxsorb bigger plants. It's all there for IOF to roll those plants out, of that I have no doubt.

[rugrat2] 14/8/2013 16:00

There was reference a day or two back to the Midstates Quarterly Earnings statement but I don't think that anyone has referred to the conference call. Here is the relevant part of the transcript, courtesy of SeekingAlpha, which I have edited for a couple of mistakes having listened to the audio.

"By the end of the quarter, all five rigs were drilling in the more proven area. As John discussed, we participated in the 300 square mile 3-D shoot and we were excited about incorporating the results into our decision making. We invested $77 million in spud 21 operated wells during the quarter of which five were producing, 11 were waiting in completion and five were drilling.
Second quarter production in the Mississippian Lime and Hunton averaged 10,426 Boe per day of which 33% was oil and 17% was NGLs. We recorded lower than normal liquids due to approximately 40% of our gas volumes being temporarily bypassed until the new Semgas Hopeton plant was operational, which was June 1st.
This bypassing our gas stream resulted in short-term lower realized liquids GL's and higher gas percentage. We expect the production spilt to be back to normal in the third quarter. We have continued to see significant improvement in our cycle times. During the second quarter, our average spud-to-rig release was below 20 days, a substantial improvement of the 26 days that we averaged during the first quarter of 2013.
Three factors that continue to drive this efficiency are the use of the top drives on our rigs. The use of rotary steerables in the curve section of the hull and additional experience in the play.
As John mentioned, pad drilling has been one of the key changes, we've made in the Mississippian program. We are building pad sites with six well capacity but are currently drilling am maximum of four wells per pad, in an effort to minimize the amount of time needed to bring those wells onto production.
Although pad drilling significantly reduces drilling time and provides other cost savings. The timing from spud of the first well to all four wells being brought onto production is roughly 100-110 days. Moving forward, we will see spikes in production as a larger number of our wells are drilled off of pads and are brought on in groups, but we will also see periods with few completions resulting in some quarter-to-quarter variability in our production growth.
We have been proactive with optimizing our SWD and power infrastructure in the region. One of the biggest challenge is when operating in the Mississippian Lime is produced water. Fortunately, due to our concentrated acreage position and efforts to optimize our disposal system 100% of our produced water goes to our SWD wells.
Additionally 95% of the frac water for our recent new completions is sourced from produced water, which significantly cuts the use of fresh water in the area. After the major snow storms, we experienced earlier in the year increasing reliability of our powered grid has been a key focus. We have programs in place to lower per unit cost in the long-term including replacing diesel generators with natural gas generators, working with local co-ops to upgrade electrical lines, working with other operators in the area to share cost on additional sub-stations and a significant maintenance and upgrade program on our existing grid.
We expect these initiatives to yield improved reliability to our power supply. For the third quarter, we plan to spend approximately $105 million in the Mississippian completing the wells awaiting completion and drilling at quarter-end, while spudding 20 to 25 new wells."

A couple of points raised there. Firstly although they are talking about pad drilling, they are only in the early stages of doing so. Currently, counting wells at all stages from permitted to producing, they have just two pads with 4 wells, two with 3 wells and six with 2 wells.

Secondly I was interested in the last paragraph, re the reuse of brine for fraccing. Does that mean that the likes of Veolia are active on the SWD sites cleaning up the brine, or is it sufficiently clean already?

[superg1] 14/8/2013 15:00

No probs Bron, it's gone a bit mad recently. I haven't had a good read lately, but can see it has caught the attention of a few.

[bronislav] 14/8/2013 14:35

Superg...off topic ,but great call on atuk .you probably won't remember but you gave me two shares that you thought may do well .atuk was one of course ,the other I won't say because I await my entry although I think its nearly time .gl and many thanks.

[superg1] 14/8/2013 14:08

Ch

Thanks and welcome.

I could post for a week in one entry and wouldn't be able to get all the facts in.

Some shares are so easy to research, but this is a sod. Area's of business that the market hasn't the first clue about.

For your info, from digging I think we can add around $4m to next years figures, without water or iodine.

A small amount in the potential bigger picture but welcome and I doubt many spotted it.

[malachey] 14/8/2013 14:02

The trouble I had with that boggle(using iii), is that I found I couldn't just sell and then transfer the money from my trading account to my ISA account to buy back, because it takes several days for the money to clear - ie. it is treated as a withdrawal. Scuppered my plan a bit.

[naphar] 14/8/2013 14:01

after my initial fiasco moving to ISA selftrade, (they told me no bed and isa option), I bought the rest at what I thought would be a low of the day, and sold from the trading account once they had gone up.

Of course you can only do that if the money is there and waiting in the ISA account. But I ended up making a £50 profit on the transfer, instead of losing. Of course, timing is key and I could have "lost" even more than the trading costs had they fallen.

[nevmyers] 14/8/2013 13:47

Ok Thanks Boggle

yes I just looked about half a pence spread at the moment so be cheaper to do it myself

Cheers

[bogg1e] 14/8/2013 13:42

Nev TDW charge £52.50 within the spread. Extortionate. I reached the same conclusion, sell in trading a/c, move cash across, rebuy in ISA (for TDW anyway, that works out cheaper)

[nevmyers] 14/8/2013 13:37

Just called my Broker (Selftrade) they seem to want a lot to sell and buy my shares back inside my ISA, I noticed some on here saying it was cheaper to call their broker, I have been told 50 pounds for the spread and 40 pounds for the trading costs, Im sure I can do it online myself cheaper then 90 pounds depending on the spread.

[chr1sjs] 14/8/2013 13:22

Superg,
I much appreciate your liberal fact sharing, thank you. Although I researched thoroughly (in my terms) before my fairly recent entry into IOF I have come to appreciate the details you provide that underscore my original conclusions.