Iog Share Discussion Threads

[jaknife] 14/9/2024 15:55

Therealdeal25,

"If it means spending more money on a Low probability outcome I’m out, "

It's not just a "Low probability outcome", it's a zero probability outcome.

There is no compensation scheme, no fund, no protection, no law, there is simply nothing. When a company goes bust shareholders lose their investment, that's how it works.

And don't forget, the people who you should really feel sorry for are IOG's bondholders. They lent EUR 100m to the company and, according to the latest Administrator's progress report, they're only going to get back 12% of that:



In ye olden days shareholders would have been called upon to put money in to cover that liability. In this instance shareholders have benefited from limited liability to walk away from that debt and other material liabilities.

JakNife

[jaknife] 23/1/2024 16:26

WH123

"WTF did everyone invest in then the office chair"

You're looking at the solo accounts of the plc. The plc has few real tangible assets, its big asset is "Investments", ie shares in subsidiaries. And it's in those subsidiaries that you'll find the gas assets that you're expecting to find.

Administration is something that happens to individual companies, rather than to a whole group, and it's also something that only normally happens to companies with large debts. So it's likely that the operating subsidiaries haven't been put into administration.

JakNife

[bountyhunter] 13/11/2023 12:03

There's a lot of bad feeling here, unsurprisingly given the way things planned out. This was probably my worst investment ever, although I did get out before the bitter end but that was far from soon enough. It has been a hard lesson learnt. I hope those that did hold until the end do manage to claw something back.

[wh123] 13/11/2023 11:58

WTF did everyone invest in then the office chair

[jaknife] 13/11/2023 11:31

IOG is in administration:



its debts are significantly in excess of its assets

I'm not sure what shareholders expect from a day in court. It's a very different story to HUR.

[dunderheed] 13/11/2023 11:04

Don't know?
Trying to stop "something"?
I haven't a clue but there was talk (I believe) of the Hurricane "precedent".
I've seen some posts about it all being a con and stuff but as far as I'm aware, you can't "sue" for director complacency which was what I assume they were referencing?
I was just interested because I personally didn't think they had a snowballs chance in hell but I am not privy to their "strategy"? Just being nosy I suppose?
All IMHO.

[jaknife] 13/11/2023 10:51

A court date for what?

[dunderheed] 13/11/2023 10:40

Does the SHAG have a court date yet?

[bountyhunter] 13/11/2023 09:04

13/11/2023 - 07:00

NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM
At the request of the Company the following securities have been cancelled from trading on AIM with effect from the time and date of this notice.

[oilguy1] 26/10/2023 22:37

IOG Shareholders announcement.

We have secured expert legal representation and ​a pledge of funds to challenge what is happening & we need your help.
​IOG shareholders are now being legally represented and have a team working to correct this wrong.
Sign up to this group to join the growing number of IOG shareholdsers.
As individuals we now have a joint voice

JOIN HERE
hxxps://lifephotographic.wixsite.com/iogaction

[billybunter1970] 26/10/2023 20:28

If you are unhappy with the outcome at IOG checkout this website.https://lifephotographic.wixsite.com/iogaction

[wh123] 20/10/2023 10:09

Those who jumped in after Robbie's ramp for context he has just scaled / fully loaded in Maru so be cautious as the dump will be by him as soon as he has made his 5%

[officerdigby] 10/10/2023 12:56

Really screwed on this with gas prices flying now obviously

[dunderheed] 04/10/2023 10:04

J2U - can you keep us all updated how this "going" buddy - really interested.

[justice2uu] 04/10/2023 09:17

To get some weight behind legal action if you are interested to join the group, Dave will add you in. 0 7 no space 9 no space 7 9 4 1 7 2 7 6

[bri15] 02/10/2023 06:26

EOG RNS,they sitting on so much gas, either a buyer will come in on a big company will do a JV,and yes the Irish government will have to approve drilling, eventually.

[fardels bear] 02/10/2023 05:09

It never has been though..

[bri15] 01/10/2023 09:23

It is going to be bigger than Lizzo!