IOG.L Share Chat (IOG)

I bought in here around three months ago. My reason to buy in was as I said over and over again, gas prices will rise this winter. And high gas prices will save IOG. We are in October and gas prices are 127p per therm. Gas prices. Has this crooked bod done us out of our money?

Took the words out of my mouth poorinvestor.

Hi Pacman, gas prices will just keep rising, where is this extra revenue going? Straight into the CEO’s personal bank account?

We need an audit. We need to know where all those millions have gone. I bought this when gas was in its 70’s pence per therm, it’s nearly doubled.

Timing stinks as do many other things. There is enough to go round. Join the group if you haven't already.

The Administrators are in control now, considering the debt size I doubt they'll be authorising high directors salaries.

The administrator takes on a primary role in overseeing the company's operations, making financial decisions, and determining the best course of action to maximize value for creditors.

The ultimate goal of the administrator is to either help the company return to solvency through a restructuring process, sell its assets to repay creditors, or, if necessary, oversee the orderly winding down of the company's operations.

@Bebeto

If the administrator helps the company return to solvency through a restructuring process, or sells its assets to repay creditors, then will IOG come back to market for trading even it is delisted?

Gas Price (p/therm)(pence per therm)

134.29, last time I looked

Justice2u,

Yes, if the company does restructure and / or becomes solvent again. They could reapply to become listed again on AIM or another stock exchange.

For IOG plc shareholders the extent of recovery value would depend on the terms of restructuring and the company's overall financial health.

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.

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.

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.

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.

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

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

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

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.

Your one of them

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

Who's one of what?

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.

What's the FCF at 140p a therm?

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

What case

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.

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