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."
ian Wood on R4 this morning saying that the North Sea is really being caught in the middle during the struggle between Opec and US shale for market share which is likely now to stretch into at least Q3 2016. He thinks HMG will need to intervene in terms of increased allowances in order to maintain exploration. Basically he's saying it's a UK plc issue. Why this matters is that the North Sea is a large (but diminishing) contributor to UK tax receipts. Where does Igas fit in? Well GO needs a replacement source of tax revenue, along comes shale gas and oil. So whatever other reasons there are for the government to support shale (energy security, CO2 reductions etc), replacing lost tax revenue is another important reason.
By the way, seems like the 10% hike in crude oil yesterday was a temporary blip caused by short sellers of oil getting the willies and buying back into the market after good news from the US and China.
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