Iog Share Discussion Threads

[ashkv] 25/11/2022 07:06

Flummoxed as to why no update on amount of Gas flowing to Saturn Banks - current expected production??

Good news on Southwark possibility prior to year end - hopefully management deliver on the same.

[dunderheed] 24/11/2022 16:45

Agree, feel with that situation, if we're still below 20p per share we could possibly get an opportunistic bid initially around 105-110MM ending at 125-130MM?
All IMHO, DYOR of course.

[bountyhunter] 24/11/2022 11:44

Actually more so when Southwark comes on line, presuming no disasters!

[therealdeal25] 24/11/2022 10:56

This will move when the Gas moves simples!

[bountyhunter] 23/11/2022 19:05

'exploding' lol 😉 wish it was!

[alxo82] 22/11/2022 15:58

The Seven Atlantic is gone and the share price is exploding, is it because of that or something else?

[therealdeal25] 21/11/2022 16:51

Let’s hope it comes back on line now Gas prices are heading the right way, end of month almost here!

[bountyhunter] 19/11/2022 18:20

The NBP day ahead gas price was up 52% yesterday at 145p from 95p.

[alxo82] 17/11/2022 21:13

Big Orange is sailing back to Southwark, maybe needed to replenish the explosives or acids

[bountyhunter] 17/11/2022 17:12

More tax relief as now 91.4% up from 91.25% apparently, but I still haven't got my head round this!

How will the Energy Profit Levy’s investment allowance change?
The government has always been clear that it wants to see the oil and gas sector reinvest its profits to support the economy, jobs, and the UK’s energy security.
The energy profits levy included a ‘super-deduction’ style relief which aimed to encourage companies to invest in UK oil and gas extraction, putting more UK gas on the grid for longer, supporting jobs and the economy and bolstering the future energy security of the UK.
This 80% Investment Allowance meant businesses would get a £91.25 tax saving for every £100 they invest – providing them with an additional incentive to invest. This nearly doubled the tax relief available and means the more investment a firm makes, the less tax they will pay.
Under the 35% levy rate, the government is reducing the rate of the allowance to 29% which, due to the higher rate, will broadly maintain the existing cash value of the allowance.
This means business will be able to claim £91.40 in tax relief for every £100 invested rather than the previous £91.25
We also recognise the crucial role oil and gas firms in helping us to achieve our ambitious net zero targets by investing in world leading renewable infrastructure and green energy products.
The government has always been clear that it wants to see the sector reinvest its profits to further support Net Zero, domestic jobs and the UK’s energy security. The Net Zero Strategy also recognised that remaining oil and gas installations will use low carbon power, with the sector currently working towards reducing emissions by 25% in 2027 and by 50% in 2030.
To encourage this, decarbonisation expenditure such as modifying existing installations to use power from offshore windfarms, installing bespoke wind turbines to power the installation or running electricity cables to the installation from shore will continue to qualify for the current investment allowance rate of 80%.
This means from the 1st of January 2023, a company spending £100 on upstream decarbonisation will now be able to deduct £109.25p when calculating its levy profits.

[therealdeal25] 17/11/2022 16:07

Think people are selling IOG and buying Deltic

[therealdeal25] 17/11/2022 16:07

Falling back hard here today, I’m ready to buy more the lower the better

[bountyhunter] 17/11/2022 12:32

WT changes certainly not as bad as it could have been. No retro, with Jan 23 start for the +10% WT, development allowance maintained, WT now ends Mar 28.

[bountyhunter] 16/11/2022 21:07

I don't suppose there's much point in Big Orange hanging around until January or longer. Could mean higher UK gas prices until Freeport does get going again, if it ever gets cold this winter!

[myfriendsharer] 16/11/2022 20:24

Big Orange has come and gone.

[bountyhunter] 16/11/2022 07:25

Freeport restart of LNG exports from the US has most been likely been delayed by 2 months until at least January 2023...

[deltalo] 13/11/2022 17:06

Sorry, that was meant for the HUR board.

[deltalo] 13/11/2022 16:58

Nobody knows the comp value more than the bods. So if they say 7.7p is undervalued then it's undervalued simple as that. They didn't even consider the offer that I find very understandable. Oil at $96 is even better. https://oilprice.com/

[bountyhunter] 13/11/2022 11:09

I think the best we can expect is +5% on the WT and no meddling with the development allowance but I don't particularly trust Sunak not to meddle. Of course on top of that the sunset clause will be disappearing into the sunset!

[cashandcard] 13/11/2022 11:03

Will be interesting to see what effect Jeremy Hunts budget on 17th has on NS oil producers. Almost certainly an increase, but how much of that will be be baked in?Cash

[officerdigby] 13/11/2022 10:48

How did they get the quality of the assets so wrong?What's to say these new wells don't just prove to be poo too? Is it the case the IOG picked up these fields that no one else wanted and decided to make them a thing, investment proposition etc etc, and all along it was a flawed venture?

[emigna2020] 12/11/2022 08:54

Awa an` get fankled!