Iog Share Discussion Threads

[maxidi] 21/6/2022 08:26

Took me 27 minutes to get some more.

[cb7] 21/6/2022 08:22

hpcg - I think Southwark expected to double production (approx).

[maxidi] 21/6/2022 08:17

Can't buy any at the moment. Too much volatility !

[hpcg] 21/6/2022 00:00

It is about 1000 scf for 1 BTU, 1015 for pure Methane. Carbon Dioxide lowers the BTU, some ethane puts it up. Just use 1000.

[lord gnome] 20/6/2022 23:55

This is impenetrable to a dim wit like me. Does anybody know how many therms 54 million cubic feet is? If I know that I might just be able to have a decent stab at calculating revenue. Otherwise, it's like telling me that they produce apples and then giving me the price of pairs.

[hpcg] 20/6/2022 23:37

Brokers' consensus on Stockopedia is for 124m for 2022, which will need a top end H2 as I don´t think Q2 will carry its weight In any case the net cash will eat into a big chunk of the debt and pay for the capex program. Debt is considerably smaller than the tax losses accrued thus far.

[wskill] 20/6/2022 21:20

£75m not too shabby with a market cap of £131m why are IOG not putting the east well into production when the well is completed ,have I missed something .

[maxidi] 20/6/2022 18:34

40p (which was my first contract) may be on it's way soon, so long as there are no more unforeseen probs.
Been adding as and when over a last few weeks to dilute my 40p! so pleased I did.

[tonytyke2] 20/6/2022 16:40

Yep, and a further 3 trades totalling 2.4m shares just before closing.

[hpcg] 20/6/2022 16:26

Conventional summer rates are about 30p, but highly variable on a day to day basis just from wind and sun. There is variability on an annual basis not just for weather as when oil is cheap gas prices drop too. Predicting gas prices is extremely difficult at the best of times. What we can say is that the high prices now are an absolute boon coming at the best time for the company. My mid case revenue model lines up brokers, actually a bit below, so I'm happy to defer to them as everyone is in the lap of the gods with respect to price. As per the presentation Southwark timing makes a difference and I have no idea what the anticipated production rate is.

[xxnjr] 20/6/2022 16:11

54000/6 = 9000 boe/d.

3 trades totalling 4.2m shares just went through.

[bipos] 20/6/2022 16:06

Could someone please explained to me what 54 mmscf/d convert to boe/d, thank you.

[maxidi] 20/6/2022 16:03

Just bought some more. :o) Here's hoping!

[farrugia] 20/6/2022 15:11

how did this move so little on what reads like a great update?

[xxnjr] 20/6/2022 13:55

Prices collapsed in May due to very high LNG imports but have since strengthened following a recent US fire resulting in forecast 3 month LNG plant outage.



But anyways, 135p VWA since SB start up is OK.

"IOG's volume weighted average monthly realised gas prices so far have been 232p/therm for March, 161p/therm for April, 83p/therm for May and 106p/therm for June to date (135p/therm combined since First Gas)."

[officerdigby] 20/6/2022 13:43

Update highlights the banality of UK gas price day ahead value that producers sell at.Why should they be paying WFT. When some days they are selling at 10p a therm?.And the average for the month is less at £1 a therm.It is up to govt to make the market and pricing work.. with suitable storage and infrastructure..This nonsense if just being over whelmed by LNG. LNG bought at say $30+ /btu. From US by e.g. the government then make UK producers essentially give away their product for few days while the system absorbs the delivery.Is that fair? I ask? Then after giving their product away they have to pay WFT on the days when the price recovers - sufficiently to justify another LNG delivery.All the while stop starting the deliveries when they could be stored for when need later... Total bunk.

[xxnjr] 20/6/2022 13:42

Thx for link in header. I hadn't realised our partner in SB is none other than the Sage of Omaha, as

"CalEnergy Resources Limited (“CalEnergy221;) is a wholly-owned subsidiary of Northern Powergrid which is in turn owned by Berkshire Hathaway Energy Company, which is headquartered in Des Moines, Iowa, U.S."

IOG must be a rock solid investment :)

[bountyhunter] 20/6/2022 13:34

Thanks, looks good to me basically reflecting today's update.

Link added at the end of the header.

[xxnjr] 20/6/2022 13:26

Corporate Update Presentation

[bountyhunter] 20/6/2022 09:57

And plenty of investment to take advantage of the 91% tax allowance which should minimise tax payable. IOG might even be better off over the next couple of years ahead of the sunset clause ending the windfall tax changes.

[tonytyke2] 20/6/2022 09:10

Good reasonably detailed update imo, and I'm happy now I added last week.- Looks like $1.2m condensate sales for Apr and May. - Further gas flow restrictions to be lifted over the coming weeks.- Expectations of a very constrained market over the coming year = higher prices.Hopefully the update can provide a platform to attract increased buy volumes and stimulate some positive progress in the share price

[bountyhunter] 20/6/2022 09:09

Hedging would be a bad idea right now given the possibility of outages.
Re guidance they did say mid summer so you could say they have provided this a little earlier than they said given mid summer's day is tomorrow ;-)
I hesitate to say it but Southwark seems to be on target right now for Q4 according to today's update.

[wskill] 20/6/2022 09:08

SQZ have £150m restricted cash as a deposit for their hedge so I would think that marvelman is correct in his assumption .Loading up now in IOG shares as cannot see gas prices falling anytime soon .

[marvelman] 20/6/2022 08:40

They surely havn't the cash to deposit for a hedging strategy