IOG.L Share Chat (IOG)

He's talking out of his backside like all the dampers here did.

Including you Pacgirl with this comment

"Sham and Beb and new guys. Couldn't have been more wrong on your uninformed I'll educated conclusions."

@poorinvestor What do you mean by 'new bought in investors'? Thanks.

It's such a shame so many people actually believed the ramping rubbish spread on here.

They make people buy, hold and not look at the risks. They sell a dream that on the AIM market hardly ever happens.

If someone deramps, the worst they can do is make someone reduce their holding or see the risks involved.

Rampers are evil and prey on innocent investors for their own gains.

If you see the risk here, the company itself spelled it out on 31st July RNS, and didn't act upon it, then there's no one to blame apart from yourself.

If this company goes into liquidation, the first people to be paid are secured creditors, preferential creditors, unsecured creditors, and finally, shareholders. So if this company is being liquidated, shareholders will get nothing.

If the creditors decide not to go into administration and agree with the cash injection scenario, new bought in shareholders like me will make a real killing here.

Am I correct in believing, this company has around 80 million pounds worth of debt and around 110 million pounds worth of assets including all the licenses and money in account??

It would be very interesting to know the recent updated shareholdings in the company accounts..

Has anybody requested for this?

Yous not going to get anything, the largest shareholder has loan notes and he won't get anything either but if he could, the loans notes would still take yous out.

Why would you even buy into something like this.

To get some weight behind legal action if you are interested to join the group, Dave will add you in. 0 7 no space 9 no space 7 9 4 1 7 2 7 6

“the huge debt burden coupled with poor quality assets was a toxic combo,” he said, alongside poor management

aye that just about sums this one up. whatever made them eejits keep buying this ****e has cost them all their money!?!?!

Ashley Kelty, analyst at investment bank Panmure Gordon said the move had been “a long time coming”.

“The huge debt burden coupled with poor quality assets was a toxic combo,” he said, alongside poor management.

He added that he expects smaller independent players may look to pick up production and development assets from the process.

They never produced anywhere near enough for a long enough period. Gas prices also duped the market. Some really thought they were buying a bargain sub 1p when they were just buying the embers.

Weirdly today I found myself looking up the gas price.....more than once!!!

It's likely due to the company's intention to appoint administrators and the ongoing discussions with bondholders regarding a potential restructuring solution, which may not accurately reflect the company's financial position given the ongoing negotiations and uncertainty surrounding its future.

The failure to produce accounts is highly suspicious.

A recentRNS emphasised a focus on building up the cash balance. In the weeks since this announcement the cash balance has been reduced by £7 million. We

need accounts to see where the money has been

spent. This whole situation requires forensic

examination.

Https://lifephotographic.wixsite.com/iogaction/join-us

Saint, You can only try and good luck!!

I came on here everyday with the good intention to just try and make investors think about the unfolding situation.

I've been caught before and I also didn't listen to the other side of the argument.

Guys / Gals - absolutely respectfully I doubt the bond holders will get fully paid - or if they do it will be many years IMHO.

1. You don't know what the production profiles are now - how low have they got?

2. The assets only have value if anyone wants them or there is a use for them - this does not look to be the case - looking at potential "real" fields coming online which need transportation - significantly anyway.

3. No-one has taken into account the de-com liabilities.

4. Tax losses are debatable as to true value - and ie only if you have profits to offset them against and within the same "ring-fence".

Absolute best of luck to the litigation seekers - but beware of what you ask for and I think you will need it.

All IMHO. DYOR.

Brilliant!

Tis a cracker this one...a wee cracker!

Agree sham but comes a time when the worm turns or else it is just highway robbery without a mask... Privateering or Piracy which will it be.

BOD was incompetent I have no doubt about that, some of statements they made can be taken as misleading. Problem is they have their bases covered. FCA is most useless institution in the world and if it had spines out jails would be full of Aim CEOs, directors and "p&d merchants".

Well we can only try. If you don't try you definitely wont get anything back and i applaud the people behind the scenes that are at least trying to hold them to account. Good luck to all.

Politics and pettiness aside beb and sham... What is trying to be pulled by the BOD is a disgrace and I accept you both had opinions that have been proved correct to an extent but it could and should of never come to this if certain people hadn't been let's say underhand.

I fully support shareholders taking action, would they get anything I don't think. Not so long ago Nmc defrauded investors of billions of dollars and it was a proven fraud, authorities are still chasing BR shetty but no one has received a penny.

Great the directors are going to be taken to task on this. Regulation allows less than transparent acts but get them in a court and see them try to quantify in front of a judge. More and more shareholders are fighting back and there is a routine forming for doing so.

One thing for a company to go under its another for the directors and assets to be given the opportunity to play again under a different name which unless I've got my wires crossed is what's happening here.

The whole thing stinks and does look orchestrated. I hear the shareholder group are already making progress so what happens next should be insightful to watch.

They antagonised me so I antagonised back and it became a sport.

If they'd have sorted out the finance and with a cash injection I might have bought in but the assets were never going to be able to pay back a debt of thst size.