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Looks like the Seaway Stanshnov (Crane ship) , the Fairplay 35 and the Pegasus are at the Southwark location. Will be great if IOG put a time lapse presentation together for sharing once the NUI is installed. All coming together nicely in 2021
As shareholders we only benefit if the share level increases 25p 30p 40p ect but this lot award themselves options with no target attached just when a work level is completed or reached WOW I wish us shareholders could get this ffs
Alighned with shareholders my backside it's getting more like a lifestyle company for me as time goes by.
Attach a level to the options not this carp targets
I think that the share option scheme is a perfectly fair way of rewarding key personnel, with a number of key targets that need to be achieved for rewards that relate to the benefit of all shareholders in the longer term. Also calculated in reasonable volumes IMHO. Thanks GG for news of more advances on the development of the Southwark platform, with all working progress falling nicely into place. Just mystified at present by the persistent selling run and the SP subsequently remaining in the doldrums with so much positivity around this company?
The Seaway Stashnov (Crane Ship) is currently in the English Channel heading for Southwark Platform location according to the Marine Traffic site. Also heading for the same location is the Pegasus which may be towing the barge with the Southwark Topsides, suction pile and jacket. Also heading to Southwark is the Fairplay 35 vessel. Lots going on, lets hope we have an update early next week
Makes good sense to contribute to the academic research on CO2 storage. Little cost, other than resources and develops knowledge for later needs. I would imagine the biggest interest will be in gas based steam methane reforming with CCS to produce low carbon hydrogen. That will have huge margins over the next 10 + years as lots of authorities are betting on this for net zero. Lots happening in the UK on this subject but will require much government support. Great to assist in building knowledge here, as long as the focus is kept on core business for now which I am sure it is.
Not news as you say edgar, but important to declare their green credentials to the market when the talk has been of nothing else just recently. Collaboration with a respected agency confirms their intentions, and the timing is spot on as we approach the first gas milestone. I was asking for better and more astute PR action some time ago, and to be fair this BOD have delivered in this key area.
I dont just mean regulatory. I mean positioning in the market too. They are opening up a whole new area of investor/buyer with the green approach. Not news to anyone who has been following for a while.
by IOG on a carbon capture and storage collaboration agreement with HerioWatt University's Centre for Doctoral Training. Not going to set the SP alight but should prove a useful underpin in terms of IOG's stature in the industry and its future asset growth.
duster, Not sure where you are coming from. BH has no equity stake in IOG, just 50% of the core project, so would therefore have no leverage in a third party bid scenario. LOG's holding is ca 30% so it will have an ability to influence any decision on a third party bid will not have the final say.
gator - lets hope that the strategists and decision makers at BH/CalE are thinking the same way. All those guaranteed and in-place developments are fine - but the price surely goes up with all ducks in a row?
Hi GG, I think most, if not all, of the LTH's would welcome a sensible bid from BH. Of course, the LOG holding would need to be resolved either before or as part of a deal, but LOG should be our ally in terms of seeking top price. Logic would dictate that, given BH's huge financial wherewithal, potential third party bidders may be put off from getting into an arm-wrestle which they would have very little chance of winning. However, I would nonetheless be delighted if that occurred as it would, in theory, push the bid price northwards. Peak and viti make additional points which would support this but I guess the key point is that of timing. If I was BH, I would want to see the platforms in situ, gas flowing through the wellheads and entering the UK grid via Bacton. With IOG under its wing, BH would have a ready made management team (which could subsequently be focused on Poland and Australia), additional North Sea assets plays and 100% of cash flow from the core project. Sort of a no-brainer in my view.
Its always seemed to me that CE would want equity control of the company at some stage. They have a seat at the table as development partner and funder, this gives them some leverage but without actual equity control, they cant use the operating infrastructure to support their strategy. LOG is building out a neat operating capability - not something that happens overnight. LOG administrator's equity position is probably the key for CE, and the administrator is playing a long game hoping for increased valuation accretion before the block is placed/sold. CE should fear it falling into the wrong hands. I had thought it would happen by now, but its still the most likely outcome IMHO.
In the event of an "offer" - either from CalE or another party (or even both) - this would have a more substantial effect on the SP than all the good progress reports. Perverse I know - but that is the way of the AIM market in most situations.
You seem to be coming round to my way of thinking. I suggested a while back that we could be viewed as a takeover target for Gas Producers but you thought that BH would fend that off. I like your train of thought that it could actually be BH as a potential for taking 100% ownership of the company. I could see that being attractive to the BOD, where most have a shareholding in IOG, but also staff positions, so a BH takeover could see them profit from the share value and quite possibly retain positions in the new company going forward. The LOG administrators and major shareholders would be looking for a good return therefore that should help towards a good price for all shareholders, not to mention if any counter offer came in assuming this was the scenario. My feeling is that we wont be left as an independent player in the market and at some point in the near future will experience some sort of offer, lets hope its a good one to make it all worthwhile All the best GG
gator - as usual you have done your homework to back up the theory, and all you say about CalE's potential further involvement in IOG seems perfectly logical. In fact, I have wondered why there has not been a similar move before now. Watch this space - and it could well be considered before the anticipated first gas?
Aligator According to the latest IOG information the platforms are due to complete and depart later this month. The Blythe NUI is due to be in place prior to the end of June which will co-incide with Elgood well being completed sometime late June as they advised a 90 day well programme for Elgood which spudded on 9th April. All being well as soon as Elgood is completed and the well suspended ready for production then the rig will move directly over Blythe and commence the platform well there. Thats 2 major items of good news to come in the next 2 months to move us along.