The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I wonder how those environmental nutters who sabotaged our fracking programme feel now? Probably they are amongst the ones most loudly complaining about high gas prices and of course expecting the government to “do something”. Tough if you’re sitting in front in front of your one bar electric fire when its freezing outside, and can’t afford to switch on the gas CH. As the man said, if you insist that we must decarbonise you will have to pay the price.
Strange why they don’t realise that importing gas from Qatar, Norway, USA, even Russia is not doing as much or more damage to the environment as producing our own gas. How much better it would be to be self-sufficient and control our own supplies of cheap gas?
The government couldn’t bring back fracking for all those massive gas reserves in the North of England…………could it?
Ignore my post on UKOG - too early. Principle remains, but RNS for ANGS only.
Similar RNS from ANGS. https://www.londonstockexchange.com/news-article/ANGS/strategic-review-and-formal-sale-process-launched/15276339
Interesting RNS from UKOG reinforcing my views on Igas. https://www.londonstockexchange.com/news-article/ANGS/strategic-review-and-formal-sale-process-launched/15276339
There could be potential synergies with Igas, but even failing this, interest generated in the sale process could cause a rerate for igas. Fingers crossed
Just a matter of time... green energy looks like the future. A quicker transformation than i expected, but then i thought shale gas was the way forward. GL
Ian, I believe that repurposing existing assets for deep geothermal is on the list of potential initiatives. Loads of potential here, but unfortunately none of the diversification initiatives getting significant traction yet.
Do i gas not hold muliple wells pre drilled during shale exploration? Maybe these could be used for thermal side of green energy....
£0.2m increase in debt, £0.4m increase in cash. If nothing else it looks like core business is funding all of the diversification plans successfully. You could think of Igas as a green energy new start with much of the funding risk covered. 2022 Hedged production nearly 40% higher in 2022 which is no surprise, but nice to get confirmation.
IGas is pleased to confirm it has completed its scheduled six-monthly RBL facility redetermination process.
The redetermination exercise confirms £19.3 million of debt capacity.
Cash balances at 30 November 2021 were £3.2 million with net debt of £13.4 million. 216,000 bbls are currently hedged in 2022 using swaps at an average price of $68/bbl and 114,000 bbls using puts with an average guaranteed minimum price, net of premiums, of $44/bbl
12 Oil and Gas Companies to follow from @TMSreach
https://total-market-solutions.com/2021/12/12-oil-and-gas-companies-to-follow-in-2022/
PDT - Where are you getting any indication of an RI from?
Muck165: However, shareholders should confirm that Igas has several revenue streams flowing and make sure their bond debt is mostly paid off before they decide to eliminate rights issues, just to be safe.
Muck165 : Use your voting power. Deny them the ability to issue new shares and there will be no more dilution , and they will be forced to buy back their own shares for worker pension plans.
ttps://www.investopedia.com/ask/answers/040315/what-can-shareholders-vote.asp
https://www.investopedia.com/investing/understanding-rights-issues/
https://www.lse.co.uk/rns/IGAS/total-voting-rights-j8xg33pt48qbxay.html
https://www.lse.co.uk/rns/IGAS/additional-listing-directorpdmr-shareholding-49n1i1p4q5sl81b.html
9% jump into closing with couple of price monitoring RNS’s sounds great….. but…. all that for £40 quid after hours… Grrrrr
For those that may have missed it, Igas posted this on their site last week.
https://www.igasplc.com/media/47536/net-zero-rise.pdf
Here’s a bit more on “Net zero RISE”
https://www.ncl.ac.uk/business-and-partnerships/expert-solutions/collaborative-research/net-zero-rise/
Good to see that brokers haven't completely forgotten about IGAS... I've been hoping for a £40m revenue full year since I bought in, although I was hoping for more comms around diversification intiatives along the way. A modest increase from an II today, broker upgrades and the announcement have done little for the SP, but eventually all of these positive RNSs will be viewed along with a great full year performance report will surely bring some attention.
A revenue to MCap of well below 0.5 can't continue for too long...
I’m struggling to understand this valuation as well. I appreciate they won’t fully benefit from the higher oil price as 50 percent of production is hedged. Even so profits should recover strongly this year.
cop26 reduced chances of fracking in the short term. Successful blue/grey hydrogen production may reopen the debate about using our own resources rather than importing.
Igas debt is reasonable. It's other liabilities may be weighing but for all the reasons I've stated here before I expect good full year results and some traction around one or two of their diversification initiatives to move SP north. Even accounting for debt and non current liabilities, this is ridiculously cheap but no-one seems to care about fossil fuel production right now...
Muck,
I imagine the debt is the biggest.
On another note, anyone have any views on when / if the fracking moratorium will be reviewed?
Danno.
Am struggling to see why we’re still trading at this SP…
Oil price remains high
Gas price remains high, and is rising again
Exchange rate has been moving in our favour since June
Great new partnerships
I know the debt is perceived as high but it seems well managed and not of any immediate concern. Do we have a seller?
Like I say, just interested in views…
I see that on Thursday SSE announced that they will invest £12.5bn by 2026, to accelerate progress towards net zero. That’s up 65% on their previous plan.
We’re already involved in one major project with them - with this kind of funding commitment I wonder how many more there might be!
https://www.sserenewables.com/news-and-views/2021/11/sse-to-invest-12-5bn-in-net-zero-acceleration-programme/
Thanks Muck.
Great use of 'wasted wind' by making Hydrogen.
Exiting times.
Igas is in a good place to cover all bases.
Pleasure Gromshy! Wasn’t sure anyone would see it given how quiet everything seems to be!
Here’s an open letter published by the Oil and Gas Authority on 11/11. And of course, this thread title should read Bacton not Barton!
https://www.ogauthority.co.uk/news-publications/news/2021/bacton-energy-hub-an-open-letter-on-progress/