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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


Independent O&g Share Chat (IOG)



Share Price: 13.875Bid: 13.75Ask: 14.00Change: 0.00 (0.00%)No Movement on Independent O&g
Spread: 0.25Spread as %: 1.82%Open: 13.525High: 13.875Low: 13.50Yesterday’s Close: 13.875


Share Discussion for Independent O&g


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rxdav
Posts: 2,332
Opinion:No Opinion
Price:13.65
RE: No news is good news?
Wed 14:44
dunderhead: Nice to hear from you again - hope the new job is working out well (maybe not so new now?). IOG - well - I have declared I'll await 25p (my average) and sell out - just hope it gets there eventually as I refuse to average down in a company where I no longer trust the BoD (and with good reason) - but that's my call. Fortunately, I'm not in too deep - and won't be going deeper. ATB.
IMO etc.
 
Peakview
Posts: 2,282
Opinion:No Opinion
Price:13.65
No News
Wed 12:51
I didn't know we were expecting any until certain timelines are met by the Bod? We are now backed by some serious players who do not throw money or bananas at monkeys - and the same backers will surely want bigger pieces of the pie as this story unfolds. The greatest bugbear of all start-up explorers in gas/oil/mining ventures is lack of funding and our recent placing and subsequent dilution was a necessary step forward given the circumstances. Those doom-mongers who were forecasting a further drop in SP to the 8p marker have already been confounded - so have a little faith and patience in a great project and give these guys a chance to realise their planned programme.
dunderhead
Posts: 2,247
Opinion:No Opinion
Price:13.65
RE: No news is good news?
Wed 11:53
Lol rxdav few sweaty betties now who put their money on this bunch of monkey bod.
I'm still holding about half a mill of these but happily crystallised some nice cgt losses already "won" back with "better quality" and run oil companies.
Good luck all.
rxdav
Posts: 2,332
Opinion:No Opinion
Price:13.65
RE: No news is good news?
Wed 10:08
alligator: As you'll likely know already - very rarely on AIM is no news good news - but happy to be proved wrong.

IMO
aligator
Posts: 136
Opinion:No Opinion
Price:13.65
No news is good news?
Wed 08:39
As time marches on and we continue to await updates of any sort, my analytical mind is now turning to the issue of plan B's/fall back positions and just where does the company go next if it fails to secure long term funding? Forget about the drilling of Harvey and finalising documentation on the Thames Reception Facility (Bacon) - the critical issue here is securing the funding to develop the core project. Without it the company faces a bleak future.
I guess the very bottom line would be a fire sale of the licences but we all know that, in such a scenario, this will generate only a fraction of the assessed NPV of the gas. Certainly, if I was one of the mid cap companies, I would be casting my ruler over IOG's assets and holding back to see if I could pick them up on the cheap.
In my view, "Mid-year" (as quoted during the conference call and EGM) is the end of this month/first couple of weeks of July. Or does the BoD see this as extending to August and September? at what point does the BoD consider that it needs to provide information to its shareholders?
Apologies for the negativity but, having been one of the BoD's biggest supporters, events over the past 9-12 months have generated far more scepticism than expectation. This has not been assisted by recent refusals by the BoD to provide updates on various milestone issues, specifically to provide detail as to why progress has been so slow.
These are my own thoughts and I would of course, as a LTSH, be delighted to see the company succeed. Thus, any other views would be welcome.
dinsalas32
Posts: 287
Opinion:No Opinion
Price:13.875
RE: Share options
10 Jun '19
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IOG&ArticleCode=1v3flj4y&ArticleHeadline=Conversion_of_Directors_Salaries__Notice_of_AGM

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IOG&ArticleCode=jyq2es21&ArticleHeadline=Conversion_of_Salaries__Fees_into_Share_Options

Unless I'm climbing up the wrong tree, I only see the above two RNS's in close proximity. Only leaves the below two as being awarded enough shares to cash in 218k and MR already stated he wont be selling any?

Mehdi Varzi - 230,029shs @ 27.17
Mark Routh 638,361shs - 10.86
aligator
Posts: 136
Opinion:No Opinion
Price:13.875
Share options
10 Jun '19
Turtle82, This would appear to be a standard option exercise by a "former officer". However, we all know that such exercises trigger immediate income tax liability on the profit achieved, in this case ca £32,000. So, assuming said "former officer's" top tax rate is 40%, then he/she will be liable to pay ca £13,000. Not a huge amount to risk but does he/she know something we don't?
Turtle82
Posts: 35
Opinion:No Opinion
Price:13.875
‘Former Officer exercises share opt..
10 Jun '19
Intriguing RNS.
Peakview
Posts: 2,282
Opinion:No Opinion
Price:14.00
RE: Purpose of a posting board
6 Jun '19
is to post useful observations on a frequent basis - so this must be half-term for IOG fans? Quite a few lumpy sells gone through this week, but the MMs steadfastly refuse to drop the Bid, which is good news when we finally get it IMHO.
rxdav
Posts: 2,332
Opinion:No Opinion
Price:14.125
RE: Purpose of a posting board
2 Jun '19
Crikey - it's like shooting fish in a barrel (and as predictable as night following day) - LoL

IMO
betterupthandown
Posts: 381
Opinion:No Opinion
Price:14.125
RE: Purpose of a posting board
2 Jun '19
Sorry but I totally disagree with both of you. rxdav you showed how inept you were when you self elected to represent some shareholders. It was an embarrassing display and you certainly didn't represent me. Alligator if you have decided to align yourself with rxdav then it is a sad state of affairs. If you were at the agm as you mentioned then you will have noted the timescales the bod set out. We have yet to have passed the timelines and therefore your constant paranoid posts are totally unwarranted. If we pass those timeframes then you will be justified in asking questions but the daily quibbling by a small number of you is frankly quite boring and naive. the fact that you hang onto rxdav every word who wants out of this company asap and has shown he is lacking in any investing and social acumen is rather quite bizarre. As mentioned before if you have concerns then pick up the phone and have a decent conversation with the company on a bilateral basis rather than listening to the ramblings of the boards inept Captain Mainwaring. For the sake of clarity I have a decent stake in the company and now see value in multiple times the value of the sp. The problems with this company were with its involvement with LOG who were the main sticking point for success. The shackles are off and have given the bod freedom and renewed energy to achieve the aims of all shareholders. look what is happening with North Sea assets, there are plenty of opportunities out there.
rxdav
Posts: 2,332
Opinion:No Opinion
Price:14.125
RE: Purpose of a posting board
2 Jun '19
alligator: See what I mean - she's at it again - just can't stop herself - no self-discipline whatsoever!

IMO
betterupthandown
Posts: 381
Opinion:No Opinion
Price:14.125
RE: PETITION
2 Jun '19
Totally ridiculous to be posting this. 1 - shorting is a totally legitimate trading option which adds liquidity to markets, 2- you can't short IOG and so you has absolutely no reason to be posting this petition on this board, no doubt you will be posting your even more ludicrous brexit position.
rxdav
Posts: 2,332
Opinion:No Opinion
Price:14.125
RE: Purpose of a posting board
2 Jun '19
alligator: Couldn't agree more - you'll note my last post to 600T had no references to anybody or anything but IOG. Sadly, we have one ham shanker on here (that is the rhyming slang for Banker isn't it?......or was it something else?.......can't recall now!?) who it seems just can't stop herself.

Have a good Sunday.

IMO etc.
rxdav
Posts: 2,332
Opinion:No Opinion
Price:14.125
PETITION
2 Jun '19
This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399

PS: BUTD: To the bone eh!?!? LoL
aligator
Posts: 136
Opinion:No Opinion
Price:14.125
Purpose of a posting board
1 Jun '19
I find it disappointing and irritating that people use this board to pursue feuds or, indeed, seek to personally insult one another. To my mind the board should reflect the thoughts and views of shareholders and other investors on the prospects or otherwise of IOG, irrespective of whether they fit with the thinking of others. I am happy to admit that I am always willing to learn and be educated on issues I have limited knowledge of.
betterupthandown
Posts: 381
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
1 Jun '19
well fortunately you are not a particularly perceptive person
rxdav
Posts: 2,332
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
31 May '19
600Thieves: I rarely comment here now as I'm just awaiting my exit (hopefully) - but the more I glean, and the more time passes, the more my previously stated position is distrusting the BoD and belief that they lack adequate integrity is validated - speaking solely from my personal perspective of course.
GL.
IMO
600Thieves
Posts: 1,146
Premium Chat Member
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
31 May '19
I received a response from Chris McMahon at Vigo Communications that amounted to zilch.

I sent this response:

Thank you for your response.

Regrettably, I am not assured that there will ever be an update on the purchase of the Bacton Terminal. I do however accept that all shareholders should be kept informed as events progress, or not.

We were told by way of the RNS released on 17 April 2018 that we had a period of exclusivity to buy Perenco's interest at Bacton that ended on 30 September 2018. We have had no update in the last eight months and therefore conclude that the period of exclusivity has expired. Did the II’s that took up shares in the recent placing know this? I submit that this information needs to be announced.

Ithaca Energy Limited announced yesterday that it is to acquire Chevron North Sea Limited (“CNSL”) for $2 billion. See http://www.ithacaenergy.com/media/news/acquisition-chevron-north-sea-limited There is no RNS as Ithaca was delisted on 7 June 2017 when Delek took them over. No RNS, but the information is in the public domain. Whilst this deal does not seem to include the Bacton Terminal, it certainly raises concern as some major players are chasing assets in the SNS and we know Perenco is in the process of selling their assets there.

It seems that you are taking the stance that IOG does not need to update the market on its own position with the critical issue of the acquisition of Perenco’s interest in the Bacton Terminal. If you still feel the only way to divulge news is via RNS, then perhaps we should be granted one that: -
• Confirms, or otherwise, that IOG are still trying to complete this purchase.
• If not, is IOG relying on a farm-in partner acquiring this.
• An explanation as to the information in the latest Financial Statements regarding a five-year lease with the Crown Estate for the Bacton Terminal that explains what happens after the five-year term.

Kind regards,
600Thieves
Posts: 1,146
Premium Chat Member
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
31 May '19
Morning all,

We had a period of exclusivity to buy Perenco's interest at Bacton that ended on 30 September 2018. IOG has not come clean but rather put out smoke screens over the past 8 months. The only possibility that has any merit, in my view, is that this coincides with looking at a farm-out deal with a few carefully selected partners. I would like to know if these potential partners were all looking at buying this part of Bacton and had the money to do so. Could it be that the selected partners were Ineos, Dalek, Chrysaor and/or Ithaca Energy? Interesting times ahead! News needed!!

I am hoping to get a response from my emails today - I will share what I can if I get anything.

GLA
GreatGigInTheSky
Posts: 999
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
30 May '19
600T

Perhaps Sit Jim Ratcliffe has a watchful eye on IOG
Bacton, 100% owned pipeline and SNS Gas in place plus potential upside from Harvey could be a very interesting prospect for the man who is looking to increase his North Sea presence.
There may just be some synergies there, who knows

Q3 could be transformational for IOG

All the best

GG
mrcalm
Posts: 15,867
Opinion:No Opinion
Price:14.125
RE: RE: Email re Bacton
30 May '19
soz wrong board
mrcalm
Posts: 15,867
Opinion:No Opinion
Price:14.125
RE: RE: Email re Bacton
30 May '19
seems like someone was on a buying spree today and wanted to get in before close. £14k buy in the last 10mins or so... not really punt money
aligator
Posts: 136
Opinion:No Opinion
Price:14.125
RE: Email re Bacton
30 May '19
600T, Just to let you know that I am reading all your posts. Your email to AH is a good call since RS has not even the etiquette to acknowledge your original message - if only to say he is busy but will respond asap.

To be blunt, I am beginning to read the BoD in a similar vein to our Parliament and more specifically the MPs that attend it. That is, it is not listening to what the shareholders are saying (i.e. more communication) and how shareholders are feeling at this time.

I just hope that AH has the courtesy to get in touch with you.
600Thieves
Posts: 1,146
Premium Chat Member
Opinion:No Opinion
Price:14.125
RE: Re:Email re Bacton
30 May '19
As far as I know, Bacton consists of 6 terminals with four tenants; Eni, National Grid plc, Royal Dutch Shell and Perenco. Perenco was put on the market by Hubert Perrodo’s widow Carrie as part of a strategic review of their gas business in the southern North Sea. Since Perenco was a part owner of the Thames Pipeline that we bought, it seems reasonable to assume we were buying their interest as per the RNS on 17 April 2018: “Ahead of first gas, the Company intends to acquire the onshore reception facilities at the Perenco Bacton terminal. A period of exclusivity has been agreed until the end of September 2018.”




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