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200:1 consolidation. See RNS for specific details.
I have held Igas for some years. I stopped looking when they were 4p. Suddenly they were 75p.Has there been a consolidation or something. I just mentally wrote them off. Now they seem to be wioth something. What happened ? ?
Yes...Wednesday this week...meeting between the Gulf countries regarding possibly intensifying sanctions against Qatar. An article from the often green leaning Guardian newspaper on June 8th was headlined "Qatar crisis highlights rising UK energy reliance on imports". Qatar provides nearly one third of the UK's gas supplies in the form of LNG. Experts consulted by the reporter seemed to think exports of LNG will not be curtailed but the dispute has only worsened since the Guardian article. If the dispute were to escalate, one wonders if this would remain the case. So this being the case, should we really be missing the opportunity to begin the process of increasing our energy independence?
Answer to Frack Fake News - IGas has planning for conventional drilling and exploration to establish quantities and ease of extraction. Igas will make money Post-Restructuring and be profitable from existing conventional oil production. Gas from Fraking is icing on the cake and makes no difference when it comes out of the ground, but it will. A significant percentage of imported gas comes from Qatar which shares the gas field with Iran, how secure is that? I'm old enough to remember the 3 day week and blackouts during the last energy crisis. In the future one night without East Enders and the country will be protesting for UK sourced secure energy supplies. The share price is on the rise so no more fake news reports from masquerading Shorters DYOR
Voted 7 to 3 against. Not enough information in the officers’ report to convince the committee that the application, which included acidisation and proppant squeeze techniques, would not have an impact on people and the environment. So the companies have to PROVE it is safe. The precautionary principle is back!
Wressle refused?
IMO most Igas shares are now in the hands of knowledgeable big investors who are in for the long haul and know the true value of Igas assets sitting patiently underground. Very few shares available hence the tree shake on Friday. SP is coiled spring and should prove to be a multi-bagger for new investors or those topping up at this extremely low entry point. DYOR
IGas Aims To Start Drilling For Gas This Year - Financial Times https://www.google.co.uk/amp/s/amp.ft.com/content/86afb348-5d5f-11e7-9bc8-8055f264aa8b
Well if you want a really quick surge buy EDR Monday morning as Wressle is in for 2nd round at 2pm. It's a very likely positive outcome this time around and will see a rise. Can't get any speedier.
What a sad company I invested in this and EDR but I had to sell because I needed the money a few years ago I feel for the share holders. Is this share a complete gamble now. I have some money to invest again I think I might go back to EDR the last time I bought in they jumped from 9p to 35p I sold at 19p in the end. They are back to about 8p. Any thoughts about the two or stay away
On the contrary, I support fracking completely, and believe it will be of tremendous benefit to the UK, (England), but Igas really is a pretty dodgy company, and I have sold today, as I see no real future for supporting it at the present time. I went in fully aware of the risks, and have had enough. Some you win, some you lose, and I really don't have a ten year view on this one. As to Cuadrilla, let's see how they do over the next few months. I hope they prosper.
I topped up at 67.9p. Onwards over the next few months. Not saying its a given but I hope to see 90p soon-ish
Probably an anti in disguise Mark. If you're invested in fracking you'll know it's now a stone throw away for initial wells. If they prove positive expect a big swing northwards.
If he's like 83% of shareholders (before the recent capital raising), he's an Australian and can't sell the stupid shares in Australia. ANd if he's an Australian he's have had the shares since they were 1.30 and lost 96% of what they were worth. At current prices it would cost more to sell the shares than they would bring.
Sorry to state the obvious but why haven't you sold if if you don't fancy the stock - in fact you've still got nearly an hour to sell today and buy some Egdon, which have a good evens chance of going up on Monday or Tuesday after the planning committee meeting.
"Fracking won't happen for a while" ......in case you haven't heard Cuadrilla are already drilling the first stage of their well so they'll be ready to "hydraulically fracture" with the next month or so.
Agree with mazreturns. Quite pathetic really, as one would have to see a huge hike in the share price to get back to any form of profit. I would be better out, taking what I can than hanging on. Fracking wont happen for ages, so I believe, and without that, Igas is a dead sqib. Such a pity.
Meant pre consolidation levels ! Stupid auto fill
Pi have been robbed here looks like so heading to prevent consolidation levels what a farce ! Lost so much here
IMO MM's are short of shares and playing games - have some big orders to fill I guess?
Absolutely agree Goldmap, Igas were stuck over-indebted when the oil price fell, they were not alone in that. Far from being "flea bitten" they showed brilliant financial acumen in getting themselves out of a very difficult situation. The future looks good both on the conventional side and for shale gas of course. BTW the situation in Qatar shows no sign of being resolved and indeed the UAE are threatening further sanctions. Any more disruption of LNG exports could effect gas prices in the UK and if the situation lasts into winter (when the UK is counting on imported LNG for nearly 20% of "cold day" supplies) then the situation would be serious. There are lots of countries who have taken strong positions in this dispute and dictators often have fragile egos. EDR planning permission meeting next week, if successful should be helpful to the Igas SP, then first shale gas production by Cuadrilla and/or Third by the end of Summer. This is AIM, don't bet your pension, but... bring on the fleas!
3 Years Ago Oil was at $100 a barrel Today Oil is $45-47 and Igas has had to restructure to be profitable at this level. 14/06/17 LONDON (Alliance News) – "IGas Energy PLC on Wednesday revealed its net debt was substantially lower at the end of May, falling by an impressive 93% from the end of 2016 after the company restructured its balance sheet and completed a fundraising in April" "drilling activity, and spudding is currently anticipated to commence in the fourth quarter of 2017" IMO The major New investors and Managment are not looking to the past, and concentrating on the future. Igas should be cash positive with existing Oil production. The Gas exploration is the upside and it's being paid for by others ($230m) DYOR
The SP floor was reached back at below 4.5p after 96.5% of the value had evaporated. The company hasn't done anything to protect or improve the shareholder's investment in the last 3 years. Now after cutting existing shareholder's equity to 20% and amalgamating, the company resumes doing absolutely nothing for a few more years. How long will it take for the SP to go back to 4.5p again and holders have lost every cent they put into this fleabitten excuse for a business?
IMO SP Floor reached Majority of weak hands have sold up Few shares available to buy. Restructuring and Cash injections complete. Cash positive at sub $50 dollar oil ($35 cost) Major upside is the £230m of free carry on planned explorations. DYOR
and down it goes