I agree with Mark and Divi, they summed it up nicely. Small gains based on snippets of news will be wiped out by market skimmers within a day or two. Takeovers, apart, the real news is an announcement that Shale gas has been found in recoverable amounts followed by permission to fracc for it. Regrettably, in the UK, they never get around to the purpose, there is always another planning application, or another test to be done. One could add the acidic comment 'Well the BoD are getting paid handsome salaries and bonuses, regardless of if they are pumping gas, or not' . So to them it makes very little difference !!
There won't be any meaningful change in the SP in the next few months until, as Mark says, more positive news comes out. May I add that the news would have to be significant. This poor share has been so battered by bad news in the last year+ that the news has to be big to instill investor confidence. If there are still underhanded market forces at work keeping the SP down then it will take a big piece of positive news to be rid of them. The good thing is that there's really very little bad news left so the SP shouldn't deteriorate much. That said, it's important there aren't long periods without even mildly positive news as that would carry a risk of a SP reduction due to impatient investors selling up. The rest of the licenses are supposed to be released by the end of the year. Then there should be no more reason for IGas to withhold the core sample analysis. I remember Francis Egen saying Cuadrilla have every reason to think that shale gas can be extracted at economic rates so I'm not too concerned about that risk. Cuadrilla and Ineos are pressing full steam ahead with this. It's obvious they know something we don't. So I'd be very surprised if this fell flat on it's face at the extraction hurdle. For me it's not a question of 'if' but 'when'. I sense momentum is very slowly picking up. I think 2016 will be our year w.r.t. a significant SP increase. Personally, I need 50p to break even and am pretty confident that can happen before the end of 2016.
IMO all depends on... 1. When one of the exploration companies gets planning permission for exploratory fraccing. That's the next bit of news we're waiting for. 2. Possibly the second round of PEDL awards might also give a temporary fillip. 3. Takeover or takeover rumour of course.
I think other than this there might be a gradual creep up as the market begins to accept that shale exploration will happen in the UK.
To you all who talk ****e on here why not leave it to honest chat about shares as it will send people wrong messages about what we're all about ,,,leave the bull**** to all anti frackers .anyway there's my rant have a nice weekend
We are delighted that Julian will be joining the Board. His wealth of experience in the sector, most recently at Tullow Oil where he was part of the team that grew the business from being an explorer to a significant international oil and gas company operating with multiple partners, will complement IGas' existing leadership very well. We all look forward to him being part of the IGas leadership during the next phase of the Company's growth."
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.