IOG.L Share Chat (IOG)

If we had a working FCA, RN would never be able to do misleading interviews. Their rns's are misleading also. If shareholders get nothing, this will be a huge scam and it needs investigating. I bought shares here, three/four months ago thinking we will have high gas prices this winter. Guess what? high gas prices are coming but I wasn't able to guess the bods shenanigans.

Agree Greg, I just believe RN was deliberately misleading in his interviews

Excellent point cherryhiller.. I've just watched that interview with RN & malcy lol

I think you've really got to question them board changes aswell.. Something was going through the motions at that point and how are they affiliated 🤔

Shares won't be cancelled, the listing/admission will. You will still own shares of a private Co.

Yous got no chance of any return

Thanks both

Seems structured to navigate failure. Not something I had heard RN mention before, last interview I saw he talked about how they were fundamentally designed for low gas prices,

These could be assets not entirely or majority owned by IOG. There may be company vehicles on finance, equipment on hire or parts of the operation that another company owns the majority share of.

I assume they are the shared assets, part owned by CalEnergy Resources, the farm out agreement probably was set up to protect either company in such an event as this.....

Who are the operating subsidiaries that are not being placed into administration?

Ive seen people talking about restruction etc but it's in administration as a result of defaulting on their debts. All assets will be sold to recover as much money as possible. Manage your expectations people.

The RNS clearly stats the following:

"As a result of the Administration, Cavendish Capital Markets Limited and Peel Hunt LLP have informed the Company of their resignations from their roles as Nominated Adviser and broker respectively, with immediate effect. The Company's shares remain suspended from trading and pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no current intention of appointing a replacement Nominated Adviser."

To reiterate, they do not have a nominated advisor nor do they have a current intention to get one therefore the shares WILL be cancelled in less than 1 month.

What case

You need to post the email with the time stamp and the wording please. We can use it against them in the case

What's the FCF at 140p a therm?

Meanwhile, gas prices keep rising. 138p per therm last time I looked. Looking like easily over 150p per therm by end of the month. Moment gasp price hits 200p per therm, IOG will be making some serious money. I wonder if the administrators will do as our crooked bod and pocket the money. They might as well, it's not like there is any accountability on AIM.

>Your one of them

Who's one of what?

This share was on the course to default /administration from February.

I don't know about being scammed unless someone encouraged you to buy.

Your one of them

They can legit say something like "we see no foreseeable scenario that will give a return to share holders". But to blanket state there will not be is an overstep.

Can u post that email here please? You may misread as you don't use comma,fullstop or semicolon.

Guys Iv had e mail 2hours after administration team that there will be no return to share holders and the company will be delisted we have all been Scammed need take these conman to court

I think a real possibility is a deal with the creditors, whether a restructure or sale, and them receiving royalty payments.

Bebeto, that is a possibility. Gas prices are rising, like I said again and again. The administrators might have a profit making company on their hands, word on the street is, Israel might shut it’s northern gas producing well also, plus we are getting closer to winter.

Where would that leave IOG shareholders, if an AIM cash shell did a reverse takeover of a IOG subsidiary company including the assets.

The directors are in both. She'll could potentially raise the necessary additional funds.

There's the potential for the assets to become part of a RTO and back onto the market. Which would be quicker than a reapply to the market.

The RNS is pretty clear everything is still on the table via the administrators

The Joint Administrators are now evaluating the Company's position and are engaged in discussions with its senior secured bondholders and other creditors to consider all available options,

LOG being a creditor and a shareholder

including a potential restructuring to protect the operating subsidiaries which are not in administration.

The above part of the passage, sounds like it's what the IOG management would like.

I'm not convinced it's going to happen, I suspect an asset sale to SoCal or a small producer.

The assets are still going to require $m spent.