focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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.
Seems the geothermal/heat network preparations haven't stopped in Stoke. Just a bit under the radar with the markets.
https://www.energymanagermagazine.co.uk/second-phase-of-stoke-on-trents-heat-network-is-under-way/
OK! I gave IGas absolute grief based on how crappy they've been and we have some good news coming.
1) The new CEO will be announced next Thursday and I was told he's someone highly reputable with extensive oil & gas pedigree
.
2) The Investment Committee meeting for the Green Heat Network Fund will take place next Friday and it sounded like it was mostly a formality and almost a done deal
Time to top up hard!
I am in at 21p but hoping for a cheeky top up at 14p,15p.
Hope being the operative word.
Gla.
As Russia is selling cheap oil to China and the war unlikely to end soon in Ukraine, I believe its fair to assume that oil prices will remain stable but likely to go higher considering the World economic theatre.
A friend of mine works at an oil refinery. She said that they are having to wait upto 40 months for parts like valves. Yes 40 months. The other challenge the refinery is facing is getting the operational work completed due to lack of engineers.
Imop IGAS is doing well considering the challenges faced in operating a precision operation where they will facing the same challenges as an oil refinery.
Is it too simplistic to think or hope for a monthly dividend like I3E and CASP pay ?
2k barrels a day production is 730,000 a year. Assuming Brent at $75, costs of production of $41, cable at 1.20 gives net revenue (after capex of £7.9m) of £12.8m . More than enough to pay 0.33p monthly div giving a yield of 20% whilst paying off the debt and investing in the Geothermal side. I am assuming the tax losses account for the crazy windfall tax.
Why were you expecting much better Miles5? RNS of Dec 22 stated: 'The Company remains on track to deliver its full year production forecast of 1,900-1,950 boepd'. They have achieved 1898 boepd, despite having some equipment failures in H1, and production is increasing, with Dec 22 at 2221 boepd and 2 possible further wells (Corringham and Glentworth) to come in 2023 giving a forecast of 2000 boepd for 2023. They are also working with SSE on a geothermal project for Stoke-on-Trent and the funding news on Green Heat Network Fund Investment Committee is expected in the next few weeks.....and there's the lure of 630bcf per square mile of shale gas in their Gainsborough Trough prospect if the Gov. decides to do another U-turn on fracking! Excellent time to be invested here..........
Numbers aren't that bad, but was expecting way better to be fair. Either way, the delivery and comms from this lot are abysmal, absolutely p**s poor management. Totally worthy of a family run style outfit that is unable to deliver things more professionally and give a crap about investors and attracting capital.
2023 exit rate can be >2500boepd but, in my opinion, 3000boepd seem too much.
I guess market hasn't liked the update, maybe it expected lower debt or higher production.
Thought the below no's were good for GAS and wth two drills about to be given permission (Corringham and Glentworth) they could approach 3000BOEPD this year.
"H2 resulting in peak production (averaged across 5 days) of 2,432 boepd and December production averaged 2,221 boepd (net to IGas)"
Should start our run towards 40 pretty quickly now. Hopefully one of the top risers today. £25m is nuts for this company. We’re a producer, there are tons of explorers out there worth more with ZERO revenue. Oil and gas is still to be important for a long time yet. It’s going to be a cracking 2023 guys
Good debt reduction despite the capex showing underlying profits very good. Nice reserve increase too.
Nothing about the CEO, which should be sorted out already. Not even a comment on the process if there are advanced conversations or some short list of candidates.
- H2 resulting in peak production (averaged across 5 days) of 2,432 boepd and December production averaged 2,221 boepd (net to IGas)
- We anticipate net production of c.2,000 boepd and operating costs of c.$41/boe (assuming an exchange rate of £1:$1.25) in 2023
- 50,000 bbls currently hedged for H1 23 at an average swap price of $94.8/bbl
- Minimal Energy Profit Levy impact for 2022 due to available capital allowances
Excellent update - debt halved, production increasing, reserves increased
Thank you for confirming, sorry to bother!! Hopefully a cracking update, and a decent rerate. Surprised at such little interest at present!
Is that right........I phoned twice in the last week....first time (last Friday) the receptionist said she forward the enquiry onto somebody who would know and would contact me shortly. Phoned again Monday and she remembered our conversation and confirmed Trading Update this week.
Thanks. I emailed them, no reply, i called, no reply. Loll. You must have better contacts!!
I contacted the Company and they definitely said it would be this week........
You seem pretty sure of a trading update this week closettrader? Deffo heard from the company? Ive seen someone else mention that an email was sent and they got a replythat it will be this week, just wondering was that you? Also, a few om here seem sure a trading update will be good news, but previous years dont show any particular price recovery on the updates? Or are we expecting news on increased boed output and new CEO as well? Possibly expecting some sort of recovery after price collapsed from 80/90p levels?
So it looks like Trading/Reserves update for the year to Dec 22 will be tomorrow or Friday..............with the high gas and oil price during the year the results should be pretty good.....
Fair one mate, I just caution against the danger of making any pacts with the devil. Even if they promise to do 1 apparently decent thing, they will overwhelm it with 99 other really crap things which are rooted in some deluded ideology. Considering this lot's track record, it's almost a given at this stage they will cause unmeasurable damage. Thus, not so much anti-fracking as anti-******.
Of course I disagree with ReformUK on some things, like the 'K' part of their name,
which needs to end sooner rather than later.
Anyone who pushes for it is an ignoramous,
which would largely apply to Tory supporters, tbh.
I did also communicate with Johnson and Truss, and other tories.
They actually took on some of my ideas and are getting ready for implementing them.
I haven't bothered with Sunak though. It would be like talking to a brick wall.
Well, I guess that you are an anti-fracker then,
because Reform are now the only party that would seriously consider ending the moratorium.
I take offence at 'brain dead'. I could simply be deaf. More to the point, I have invested whilst Liz Truss was in power so that My losses are gains for others. I am charitable by nature.