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While the attention of some posters is on the wild frontier of shale gas, quietly in the background the company has a net production average of 2,320 boepd from conventional assets. The current SP reflects this position, in my opinion. Now its a case of waiting for them to get their act together on the shale wells where they have planning permission for exploration.
Totally agree, conventional assets are equal to current market cap alone. I am buying, and waiting for Tinker Lane to finally get going.
Buy in my book.
All the actions taken look necessary and sensible. Could be preparing to be sold on. Higher sp on consolidation can encourage institutions there are barred below certain share prices, I think it's turned a corner and someone will want to acquire IGAS.
Cuadrilla and Third Energy are just about to drill the first commercial shale gas wells in the UK. So of course IGAS is completely finished, there will be no read across from these developments to the IGAS SP. Whatever you do, do not risk making money on Igas. Do not pass GO. Do not collect £200.
is this company finished and what about shale gas?
I feel the opening SP of 75pps was a bit optimistic, would have thought 45-50 maybe. They do not have much to show, at the moment, that would support 75pps ?
Why don,t the fracking companies donate a small percentage to fund the NHS I'm sure that would bring a lot of support
Even better return the money to the share holders. That is a disgrace, day light robbery!
So if the reorganisation of your shares results in an odd 199 old shares being left over then these will be sold and the money (abou to£8) given to the company, very generous of them to award themselves this gift after I've lost close to £25K on Igas over the years. Disgraceful action towards the small shareholders - the very least they could have done was give the money to charity.
So if the reorganisation of your shares results in an odd 199 old shares being left over then these will be sold and the money (abou to£8) given to the company, very generous of them to award themselves this gift after I've lost close to £25K on Igas over the years. Disgraceful action towards the small shareholders - the very least they could have done was give the money to charity.
IGas Energy Plc has announced a reorganisation of the Company's Share Capital. Shareholders as at close of business on 14 June 2017 will have their holding consolidated, receiving 1 new Share in place of every 200 Shares previously held. This new holding will then immediately undergo a Subdivision with Shareholders receiving 10 new Shares in place of every 1 previously consolidated Share. The new post-Subdivision Shares are expected to be credited from 15 June 2017.
A small portion of shale gas is ethane - a gas which Ineos uses to make ethene and ethylene etc. Unfortunately Tom Pickering off Ineos was heard to say recently that they don't expect UK shale gas to contain any ethane. So they'll have to continue importing it from USA. That's why they built the ships!
Good for you.
It's a dead dog
Anyone read the news about Ineos expanding its operations they need fracked shale gas to make more ethylene maybe they will want ours?
I cant believe the price of this share i bought this share and EDR a few years ago i bought it on the way up and over a £1 a share i got out at bout 95p because i needed the money at the time, What happened to the share is the company worth buying into surly it must be a take be a take over target at this price or stay away
Agreed! I don't think you've actually read the article HoldingLong!
Platts suggest FBI Director Comey's comments about Russia being behind hacks in last year's US presidential election could motivate the Senate to approve new sanctions on Russia's energy sector as early as next week. Seems to me that this possibility combined with concerns about Qatar could cause "risk on" price rises in POO next week especially if we see run downs in API and EIA crude stock figures.
I. think that comes under the category of fake news. The linked document actually says the DUP are climate change sceptics and have supported fracking, in particular the government move to reward local communities where exploration takes place.
https://energydesk.greenpeace.org/2017/06/09/democratic-unionist-party-dup-environment/
It is reported that two LNG carriers Al Mafyar and Zarga set off for the UK about June 5th from Qatar presumably planning to go via the Canal but have mysteriously gone AWOL possibly to avoid Egyptian territory. Let's hope this doesn't flare up, so to speak.
Varying opinions in the media regarding the Qatar crisis...On the one hand some reporters are suggesting the embargo by neighbouring nations will have little effect on LNG or oil exports; on the other hand the German foreign minister, has said "There is a danger that this dispute could lead to war," , he cited what he called a "dramatic" harshness in relations between allied and neighbouring countries in the Arab Gulf. Watch this space.
Ha ha ha!
Hmm - well, I need to declare that I have reduced my exposure to IGAS. To be clear, I still have a holding (so still have "skin in the game") because, assuming the Tories can form a coalition with the DUP, then I agree that the framework for shale gas development will still be in place. But, personally, I can not also ignore the fact that IGAS is by far the riskiest share I am invested in. The political uncertainty is not helpful. There is also the small separate matter of IGAS's plans to consolidate its shares - again, risky in my view if the consolidation throws a spotlight on the reasons for the share price's past poor performances. Ideally, I'd far rather the company announce a share buy-back programme funded by anticipated profits that the company intends to make, rather than do a consolidation. So, for these reasons, I've reduced my exposure, but am not completely out.