We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good morning
Mole,
The current gas price for Bacton Gas is 74.75p / Therm.
Bacton gas has consistently been in the 65- 70p / therm range for a while now and bodes well for winter 2021-22 pricing and gas off take agreements.
Indigenous gas is going to very desirable and as per previous RNS, there are multiple potential customers.
Quite a bit of news should be coming our way soon.
Elgood well results.
Offtake Gas Agreements.
Rig move and commencement of Blythe well.
First Gas to market.
Lets hope its all good news on the above and in a timely manner
GG
All good points mole, and summarises my own take on the current scenario. If that mystery bidder comes in, feel sure that CalE/BH would counter that to protect their own Bond commitment and the 50% - retaining the expertise of the current board to head up further projects in the agenda. As the latter have most of their recompense contained in share options, I see this as a positive. As a matter of interest I am in no way a seller, but requiring some running around money, I had no difficulty in cashing 10k shares at full current 21p SP - and regard that as a positive also. With developments almost certainly imminent, further patience is definitely required.
Neil - isn't it always the way. When you need a bit of luck timing wise how it so often doesn't work out.
I think we all broadly agree here - it should have gone up nearer the 25 to 30p level by now. But there does seem to have been a lowish level background seller which has chipped a penny off and held us here. To move it up needs demand for shares and to do that you need more willing buyers and/or news to attract them in and also some willing sellers to give the MM some liquidity. That could be part of the issue here - might have to move up fair bit to produce the liquidity. The company are not going to be issuing any more shares.
I think you could be right on the offtake being a catalyst. Not looked at the gas forward pricing but that is now a matter of interest to us this close to production - as they are now selling into 2021/22 winter demand just after launch.
If someone was going to make a move - logically now (or last year) would be the time and in that regards we are passengers. CalE could indeed step in with an offer particularly if someone else tried. So as I say only see upside from here over next few months - just hard to work out how close it gets to the NAV and how much discount the market continues to build into the price.
I was of the same mind as you Alligator. I need to sell around 10k shares to cover something but was hanging on as thought these would slowly trickle upwards - so much for that theory! Gas offtakes are due to be finalised by end of Q2 (so next week) so maybe that may create some kind of movement?! Who knows?! Best, Neil
Been "off piste" for a couple of weeks and somewhat alarmed at the SP given the platform installation confirmations etc. The market cap of the company is ca £100m versus its 50% share of the NPV of the core project (ca £250m). And that does not include any value for IOG's other assets, etc! The lack of volume is not helping either but can't help but think that the sp is being held at this level by the MMs for reasons beyond me. To my mind, this should be 25-30p at this time and creeping towards 45-50p with first gas.