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And with it, the spread is tightening which will attract more to IOG.
Within the RNS on 23rd September to advise of the fund raise was an operation update on Blythe.
This stated that the well was drilled, lower and upper completion run and preparing for clean up and well test which was anticipated to be concluded by the end of the month.
I would think that this is also contributing to the welcome increase as well as other factors previously mentioned.
New Investors on the back of positive press, over subscribed raise, gas prices at all time high and short supply.
We could see an initial RNS outlining the results from Blythe in the next couple of days, but as with Elgood it may not be until the wells have been in steady and stable production that the accurate reservoir figures are known.
Its unusual to get the full detail from a well clean up and short flow test although the data gathered will be very valuable.
In almost every well that goes plan or time wise ahead of plan it is due lessons being learned from the previous well and also relatively trouble free operations.
The Blythe well is ahead of estimated time by quite some way so the signs are looking good.
Let’s hope for the upper end of the estimates.
Good luck to all, it has been a long and at times bumpy road, lets hops it a much smoother road from now on.
GG
We are having the biggest trading day on this board for a very long time, and even more important than volume in my view is the large number of trades. September as a month will now exceed the previous record of trade numbers in a month - all hugely encouraging as the high price of gas seems sure to stay with us for some time.
I am expecting a news update soon, IOG last RNS said Blythe should be completed ‘in 2 months of spud’. The 2 months expires this coming weekend so hoping for another update and positive pricing thereafter. GLA
Trust - this burst I would say is very definitely about new investors catching on. The much talked about "herd" has finally arrived. News, whatever the weight, will have another effect when it comes.
There aren't many pure plays on the UK gas market that are so clearly undervalued for historic technical reasons. Anyone who does any reading of this board will see that. Profit taking soon, but this rerating has further to go imho.
Shifting through the 30’s now and can sell any amount! News about to land or just new investors catching on?!
Psychological 30p level breached. Might cause some to cash in early. I'm holding however as who knows how high this can go with gas prices set to soar. Good luck to all investing here.