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https://twitter.com/proactive_UK?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
I have just taken up a small holding. Will now wait till next week for the news.
I am actually hoping to average up on this.
The buys are here at least!
Nobody here. LoL.
"Co's SHALE GAS RESERVES and now model -------------c 1 5 TRILLION CU FT RECOVERABLE---
based on the co's recent estimate mean volume -------- c 1 0 2 TRILLION CU FT."
"A/c we acknowledge shale is at an early stage in the UK, THE R E- R A T I N G potential for Igas in the event of success could be MATERIAL [almost 1,700% on our estimate].
Ref: "Coastal Energy, GKP, Heritage and IGas up to Buy."- 3 June 2013
Goldman Sachs broker report.
At the time, Goldman just gave out a target price for IGas of £18 per share.
I tried to look for it today and found the above. IGas was trading at some £1 region then and so per Goldman potential upside of 1,700% would be roughly £18. I dont know the mkt cap for £18 as it was long ago. Maybe someone can recall. The £18 price target for the shale potential was posted on this forum then.
------AWAIT THE UK GOVT DECISION NEXT WEEK POSSIBLY FOR EITHER LIFTING OR NOT LIFTING THE FRACKING BAN ON SHALE GAS.---[New Energy Strategy Report out next week per articles out today?
Wed, 9 Mar 2022.
"Liz Truss back return to fracking to stop Russia from holding UK to ransom on gas."- 9 mins ago, Guardian, Wed, 9 Mar 2022 @8:40pm. ------------THE LATEST-------------
[2] "Kwasi Kwarteng tones down anti-fracking rhetoric after No 10 hints at U-TURN."
2 hrs ago. Telegraph.
---------------
"Boris Johnson OPENS DOOR to fracking in response to Ukraine war."-FT, Wed, 9.3.22
"BJ has PAVED THE WAY for potentially L I F T I N G BAN ON FRACKING as the UK PM draw up a NEW ENERGY STRATEGY in response to war in Ukraine."
---------------THIS WAS THE ARTICLE THAT WAS SIMILAR TO THE INDEPENDENT------------
Comment:
NEXT WEEK, the new ENERGY STRATEGY REPORT will be released per articles?
So, one way or the other, we, shareholders will know IF THE BAN ON FRACKING IS TO BE LIFTED OR NOT?-----------------HISTORY AWAITS THE DECISION FROM NO 10.-------------
However, following the FT and Independent articles earlier, the LIZ TRUSS AND KWASI comments as above is interesting.
Also there is 250 million in ring-fence tax losses to use up as I understand
Thx
So that's 1050 Boepd unhedged I make it , mostly oil . Operation costs about 38 dollars a barrel I think. Some inflation to be expected but anyone wanna take a stab at net profit per barrel with oil at say 100$ ?
The drop today does seem odd. iGas does have assets in Oil & Gas (surprise!) and there is clearly going to be increased demand, so you would have thought there would be upward pressure on the SP in line with the upward direction of oil and gas prices. Is the SP being suppressed to let someone load up?
Let’s just look at a couple of scenarios…
?Martin Lewis last night says, without government action, the energy price cap will rise in October to over £3000. The median household income in the U.K. is £29,500 which means OVER HALF of U.K. households will fall into the government’s definition of fuel poverty.
?The Europeans have committed themselves to reducing their dependence on Russian oil and gas. This means competing with the Far East for very drop of LNG and crude oil on the market. A Bloomberg commentator suggested today that high prices might turn into shortages and rationing (I’m old enough to remember the 1970’s) with the prospect of “car free “ days.
The Russian foreign ministry has said “Sanctions…….leaves us no choice but to take proportionately tough retaliatory measures,” . It seems very possible that this could mean restricting European access to Russian oil and gas.
If I were the British government I’d be looking, short to medium term, for every source of energy I could get. I suspect that he would like to push the issue fracking into the long grass by “looking into the matter” but ultimately he will have to make a decision.
231,000 bbls are currently hedged in 2022 using swaps at an average price of $74/bbl and 114,000 bbls using puts with an average guaranteed minimum price, net of premiums, of $44/bbl.
That's out of 730,000 barrels per year
Don't know this share particularly well, obviously there is the website but can anyone elaborate on the likely profits for next year what with the 2000 bopd & the recent oil price environment- what portion of production is hedged if any and at what price?
I gather IGAS has debt of circa 12 million which a few have mentioned is expected to be rapidly reducing .
The Shale and Geothermal is a nice bonus but it's the existing production that interests me , thx
https://twitter.com/independent/status/1501548949043392515 Independent, 15 mins ago, Wed, 9 Mar 2022 entigled: "Fracking will be explored following Ukraine invasion, No 10 says."
"Energy security strategy.
Will consider LIFTING the current ban on drilling for shale.."
There is a energy security strategy report coming out.
MarktheSpark posted below he was at Igas at the time of £1.10.
I recall from the time, Goldman Sachs came out with a price target.
I have now located that report on many co's including IGas dated 3 June 2013.
This was about the shale gas then - a re-visit of old times given what markthespark said.
Interesting as we now await the govt report shortly as said.
Wed, 9.3.22
I hope this isn’t just an attempt to push the issue into the long grass. When I hear the phrase “we’ll look into” an issue I wonder if it’s an excuse for inaction.
Let’s see if the instruction by the Oil & Gas Authority to plug the Cuadrilla wells is actually reversed. In any event once energy bills reach £3000 a year for the average household in the Autumn (as forecast by Martin Lewis) then Boris will be forced to take action. It won’t be Ukraine but the Tory right wing and public disquiet that will focus minds.
During the 2nd World War we managed to drill 100 wells in a year in the Nottinghamshire area, with American driller support and produced a small but useful amount of oil. We were facing a tyrant then and we are now. We can get a move on if the will is there.
"Boris Johnson is considering re-introducing fracking in the UK....
But a U-TURN could now be on the cards as ministers ponder how the UK can become more self-reliant when it comes to energy."
"Mr Johnson's top team is said to be split on the issue but is believed to be against sealing England's only 2 viable shale gas wells.... 1 option to soften the blow would reportedly be to offer payouts to communities that agree to fracking nearby."
https://metro.co.uk/2022/03/09/fracking-back-on-the-cards-for-uk-after-russian-oil-ban-16242863/ "Fracking back on the cards for U after Russian Oil Ban."-Metro, 9.3.22
Just to say that I have been involved in Igas for a long time and indeed bought my first shares at 110p. Ouch!
I too am interested in energy self-sufficiency as part of U.K. policy. Overall policy needs to balance four concerns.
1. The Environment - pollution and carbon footprint.
2, Cost - especially to the old and vulnerable.
3. Reliability - energy needs to be available 24/7 and needs to respond quickly in response to need.
4. Security - a variety of sources of supply with self-sufficiency.
Of course in recent years the environmental concerns have been given a disproportionate emphasis and now it all come home to roost.
Itswrap, yes you are very lucky selling out on 1st March
I won't post the whole article but here's the gist of it:
Boris Johnson has opened the door to the return of fracking in the UK, The Telegraph understands, as he stops importing Russian oil over the Ukraine war.
The Prime Minister wants his ministers to look again at whether fracking, which has been under a “moratorium” for more than two years, can help diversify the country’s energy supply.
Mr Johnson is said to see the Russian invasion of Ukraine as a “moment of great clarity” about the dangers of European countries relying on Russian oil and gas imports.
“We need alternative sources of energy that are cheaper and more reliable and less vulnerable to the whims of a dictator,” said a senior government source, in reference to Vladimir Putin, the Russian president.
This newspaper understands ministers now back England's only two viable shale gas wells being handed to the British Geological Survey rather than sealed up with concrete, in a sign of the softening position. It means they could be reopened at a later date.
As long as its safe lets frack , it will supply gas till new fields areon line in the north sea.
Having been well under almost since the day I bought in, I have got out with about a 20% return.
Good luck all, hope it keeps moving up for you.
Ian
Johnson blocks imports of Russian oil."-Daily Telegraph, 9.41pm, Tues, 8.3.22.
"Boris Johnson has opened the door to the return..."
Cant read the rest as the Daily Telegraph is on subscription.
while seeking to phase out Russian oil."- Evening Standard, 1 hr ago, 9.3.22.
Call up the title in the search engine to read as its too late now to fetch the link etc.
Just out by Julia Hartley Brewer, 1 hr ago ie tweet. She embedded the article from the Sun.
Cant type the post out again so click on my profile to read.