Let me make it clear, I have no position on IGAS and no interest in its upside or downside, I am here purely to correct all the assumptions in your post.
1) you have NAV disease. You believe that NAV should be an.anchor to share price. This is clearly a falsehood, for several reasons. 1) discounts always apply, based on quality of resource, management, political climate and immediacy of realisation for assets. 2) NAV actually has little to zero bearing on the viability of a business. SP reflects the business viability, NAV only had any influence once they are realised.
3) company may have 18mil cash in bank, but it has 4xcash in net debt. 4) finances, largely due to current climate and medium term forcasts for oil, are poor. Revenue, ebitda, profit before tax and gross profit are all down, and will be further down on full year due to oil prices being lower than H1.
Your bull case is very much overstated for a small, loss making with worsening revenue forcasts, oil producer in a very tough economical climate.
I dont know what.so called derampers have been saying, your post is the first one i have ever.read on this board, but if you want to make the case for your share pick you need to do much better than that.
Derampers can say what they like, SP is currently oversold, market cap should be significantly higher than where it is now.
£165 m market cap for a business with £80 million of projects under control backed by the oilies, 1 million acres of licenced area under their control yet to be valued, Dart aquisition yet to be included in figures, Significant shale reserves, major partners signed, £18 million cash at bank, significant progress made to scale up operations going forwards and pending licence awards from the 14th round due out - It might be black friday but at the current SP its ridiculously low.
Meanwhile the derampers would have us believe that the market cap should fall to 35p sub £100 m - give me strength !!!
You, sir, are an obvious de-ramper, and thus an utter twit. You will buy at 35p? Dream on. Scare-monger as much as you want. You won't get any of my shares! The OPEC conference has been interesting, and brought down crude price, but essentially Saudi has passed the ball. It's a paradigm-changer, but a perfect opportunity for The West to show its hand, and make the ME realise once and for all upon who their money depends, upon which currency, and who produces the goods or services to provide such income.
Look at the pictures posted worldwide on the internet about the OPEC conference. An angry Arab is generally a frightened Arab.
OK, 'world oil prices' might be set relative to the US instead of the ME? Great, good. I think Halliburton will be more interested in doing things domestic instead of having to go ME.
OPEC has just shot itself in the foot, bigtime. They no longer rule the oilpatch. In fact, they've just relinquished it to the Big Boys.
Drive down the price. Okay, do so! Anoher 'oil war'. But The West can pull out of ME bigtime, leving you with no infrastructure whatsoever, other than the slave-wagers living on a pittance.
Obviously interesting times ahead. But no worries for Igas.
Indeed! You can see today that the no. of Automated Trades shows it's in the hands of the shorters. PIs only tend to buy on news. Those that are already shareholders are mostly all-in so new PIs will come in with the Chancellor's statement on fracking on 3rd Dec. Until then, it's the usual game.
I am very bullish on shale, definitely in the UK. Although I don't think Igas is the no.1 in the UK, I believe they can make a big impact in about two years. I mention 2 years, because it will take time to set up the organisation and permitting, like Cuadrilla has done. The approval process simply takes that long before you get the permits.
So, whilst being bullish, I am taking a nap, and wait for the right opportunity in terms of share price.
Current ongoings due to the ceo shorting the share have been most damaging. Also the oil price drop will have a direct impact over the coming weeks, as it is becoming a headline even hitting big oil.
In two/three years all this share dealing nonsense will be a distant memory. The company will be in full production and a 55p share will seem unbelievable. At the moment let the shorters ,luddites and loonies have their fun and keep topping up !
Is it me - but didnt the Director Deals at the top of this page say that AA holding 10million shares - only it now shows zero........surely it should be 10m, or 3m, or even 300K, but zero, but I dont recall it changing.
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