If nothing else with so many cliff hangers to be resolved on this one its going to move in big swings ...... Just depends on the direction of travel. I think the BOD have to many trump cards and with shale gas about to become very big news and oil price rising, they have to just keep their nerve as some big companies will be very very interested if they get approval to start opening up the UK market. GLA
They have already farmed out:- most of their big projects going forward are fully funded by GDF/Total/etc. They could sell their family jewels as they are indeed asset-rich but that feeds into the KKR takeover prob. KKR want to asset-strip IGas. If IGas do the job for them simply to get rid of the bond debt they make themselves an easy takeover target. And the assets will, by 2018 (when drilling for shale FINALLY gets going), be through the roof. Is Barclays going to want to give a loan to a company that has sold all its best bits? I'm happy to wait. IGas don't have to do anything until July by which time the white rabbit will be revealed.
That was interesting. As I have voiced before, to my mind Igas is like a rabbit caught in the headlights. It is frozen, even though there are many avenues of escape still open to them. They are asset rich and they could sell something off to get them out of a jam. They could farm out, they are doing nothing, although they do say that they are in talks. I note that Brent Crude is $55.75 today, that is up considerably on a few months ago. So assuming that they are still producing c. 3000 brls per day and they are taking in an extra $20-25 per barrel per day above what they taking a year ago Llet others do the maths !
The direction of travel of SP suggests we are f**k*d. This defies logic. IGas offers a product that will guarantee energy autonomy and relatively low carbon emissions and it's safer than nuclear. In fact, with proper PR, the anti-frackers should actually welcome iGas into their boroughs to share in the profits. Shale gas is a "commons" (i.e. a community resource) and some benefit should return to the community. Wake up iGas BoD and get your act together. You are doing us shareholders and yourselves no favours. This company is the future of our energy supply in the short to medium term.
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