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Some positive facts to balance the discussion..... 14 June 2017 IGas Annual General Meeting Trading Update Successful completion of balance sheet restructuring and fundraising in April 2017....... Experienced industry investor, Kerogen Capital, now a 28% shareholder following its $35 million equity investment..... Further $22 million raised in placing and open offer..... Net debt reduced from $122 million at 31 December 2016 to c.$8 million as at 31 May 2017...... Cash flow generative at current oil prices..... Shale appraisal and development plan covered by up to $230 million carried work programme..... IGas Financial Times July 3, 2017 Production costs have been cut “from the $40s per barrel to the $30s”..... IMO After the painful but necessary restructuring to adapt to a $50 dollar a barrel world. The $57m of New money, New Directors and New Chairman are positives going forward. Current Oil revenues will give the company working capital and interim profits allowing time for Gas reserves to be proved up. Also tucked away in the accounts is a useful "Ring fenced" corporation tax loss of £210m (31 December 
2016) ...... N.B. Planning approvals have been obtained for two Gas prospects and drills should be turning later this year. DYOR
And yet a shareholder on LSE's UKOG Share Discussion site said less than an hour ago: "I'm afraid to say all the larges trades over the last 3 days were all the w***ers selling out including DL the chairman of ukog and all his mates !! Then they all shorted it !! Same pump dump that he always does! What a c**t !!"
He's imported only ethane as Liquid Gas (from which to make plastics) not methane for fuel.
I agree with you there dead dog nothing will come of this in the uk
I was a share holder with about 50k shares With debt finance they done a share placing had know idea about consoldating a week later. I took up my open offer thinking positive balance. But at 4.5p value of 560£ consoladated at ÷200 x 10 which check mate what happens to the loss of over 100 quid straight to the fat cats
My own experience i could say how shareholders are treated i wouldnt give them my last penny
Thanks... but these answers are emotional. I wanted to see what the actual floor price is. At the minute you're all saying that my 3-bedroom house is worth zero whilst the market is going through a slow-down which is not the case. It might not be worth £450,000 but at £25,000 you'd take my arm off! So with Igas what is the bargain price? Or is it worth absolutely nothing? (I accept that any share that doesn't pay a dividend is worth zero pence to shareholders but that would make APPL shares zero!) Btw, I got my sums a bit wrong - £18 million should be £14.5 million (forgot to account for $ to £) so about £4.5 million profit / year before tax.
It pains me to admit i actually agree with you ,the board have only lined there own pockets there has been no shareholder value whatsoever,evertything that has been done has been to safeguard there own holdings and those of the new institutional holders.
It's Junk. Dead Dog. Game over. Simples. I've been saying it for years but nobody listens.
Not many answers then! Is anybody going to take a guess ?
Apologies - wrong board.
And your lottery numbers for next week are......
Indeed. Not only that, the acreage in similar areas is larger for IGAS. Also, the exploration for IGAS has been fully backed by industrie partners & on top of it, IGAS has zero debt. A similar investment case can be made for AJL, who hold around 50% of Cuadrilla. They are quoted on the ASX in Australia. They directly own large stake in Weald acreage, adjacent to UKOG. Cuadrilla itself holds the rest of those PEDL areas. They even drilled, and have applied for flow testing. Currently Cuadrilla is developing its Bowland acreage. Drilling is to commence shortly. So, plenty of stuff happening in UK exploration!! And if the UKOG price development is a benchmark, all other players are undervalued by a magnitude of 3-5. At least.
If UKOG can reach 300m then IGAS looks very cheap?
So can anyone tell me the absolute base value of this company if you *ignore* any fraccing potential? As a simple oil-only producer Igas are doing around 2350 barrels a day which (allowing for a 10% downtime) gives you 328 days so 771,800 barrels a year. If anything over $24.6 a barrel is gross profit (as stated in the latest results) then at $48 a barrel the company is making $23.4 per barrel gross so just over £18 million a year. With operating costs at £9 million then profit is also £9 million and with debt not having to be serviced until $50 a barrel we can shelve debt payback for the minute. So at 67p a share and 121m shares you have a valuation of £81 million and a P/E of 9. Is that a fair assessment and if so is it a cheap P/E for Igas? In the last tax year Igas made losses on bad hedges of £12 million because of debt conditions and finance costs of £28.8 million. Without those things to drag the company down is there not a damn good profit expected this tax year?
apologies for my dyslexia
Ineos is a prime example of a chief exec who is ahead of the game by importing lng as he knows he has taken measures to safeguard his business from the most adverse effect i.e. power if you aint got power you aint got nothing .
Many thanks, the reality of how dire things can and will get have not been fully appreciated by any party.There will be no party when the most important issue for any economy is threatened i.e. power supply then you will see the usual finger pointing but by then we will all be held hostage to whom ever wants to sell us power at whatever price they want this is inevitable the eye has been taken off the bigger scheme of things .
Sorry for your loss, I have been their in the past, lost a few grand with Xcite. I believe you will see an upward movement once the initial exploration actually commences. It is snail pace at present but as Mark pointed out the need for energy security is becoming more and more crucial. The Americans are 100% going to put new sanctions on Russia and there are enough votes to supersede a Trump veto. The Germans are going to be in an awkward situation hence making their own threats of retaliation, considering they are meant to be the poster boy example of renewables it doesn't look good. I have always said I think May is a phoney, I gave her the benefit of the doubt at the start due to the well read speeches but of course she didn't write them and was unable to deliver on any of it. She isn't really a supporter of business, Labour should be backing fracking for jobs but they have turned into a party of ideaology and green havens but that will start crumbling when reality of the real world rejoins the party. You're not going to get anywhere near all your cash back but you will definitely get more than 5%. GL.
With the conservatives holding a whisper of a majority ,i can forsee opposition parties putting all efforts into blocking or delaying any further development's regarding fracking.This share is only now of value for new investors or institutions as the value is only there for them i am sitting on a 95% loss no chance of recouping that, the last couple of weeks have shown that there is no appetite in this share to rise it is unfortunately a dead horse been flogged further.
Why UK energy security is important via companies like IGAS. ...... Press reports say the US and the EU are on collision course over Russia pipeline sanctions. The U.S. apparently want to punish Putin for interference in the recent Presidential election. However some on the EU, especially in Germany see the move as a way of grabbing LNG market share for the US. The EU may take retaliatory action especially if the new Nordstream 2 pipeline is effected. Given that the loss of Rough storage means the UK is more dependent than ever, beginning this winter, on LNG imports at short notice then any disruption to international trade in LNG could threaten our supplies. It may be that Trump will spite the EU by favouring UK supplies but given that our gas system is part of a wider European market it may be difficult to insulate ourselves from an US/EU spat.
Something's about to happen? The MM's are having trouble keeping the SP down? After watching this do nothing but find new lows for 3.5 years, your patter is about as convincing as Scaramucci. This bird wouldn't "voom" if you put four million volts through it! You may as well tell us it's pining for the fjiords.
IMO Something's about to happen MM's having trouble keeping this down. 0.01p between Buy and Sell. Very Low £15k volume DYOR
In old money, what a gyp
baxsters copse 50% and numerous others This is the one that will prosper