REMINDER: Our user survey closes on Friday, please submit your responses here

Less Ads, More Data, More Tools Register for FREE
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

Pin to quick picksIOG.L Share News (IOG)

  • There is currently no data for IOG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Independent Oil & Gas Believes Shares Well Below True Value

Mon, 02nd Dec 2019 18:48

(Alliance News) - Independent Oil & Gas PLC on Monday said the companies true value is well below the current share price.

London-based IOG was responding to a statement made by the administrators of IOG lender London Capital & Finance PLC.

IOG has repaid over GBP17.1 million including interest on the GBP34.6 million it originally borrowed, with a further GBP12.5 million of that original lend converted into equity.

IOG Chief Executive Andrew Hockey said: "Since the joint administrators of LOG took on what appears to be a very challenging administration process, we have developed a very constructive working relationship with them in order to facilitate their understanding of our business.

"This recent statement provides some helpful clarity as to the joint administrators' approach to their stake in IOG and they understand the fundamental value is significantly in excess of the current IOG share price. For our part, we at IOG are absolutely focused on ensuring we unlock the significant value within our business for the benefit of all stakeholders."

IOG shares closed 0.1% higher on Monday at a price of 17.88 pence each.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
23 May 2022 10:59

AIM WINNERS & LOSERS: Ince profit warning; more IOG Saturn Banks woes

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

Read more
23 May 2022 10:55

IOG production at Saturn Banks halted as fault found at terminal

(Alliance News) - Shares in IOG PLC fell on Monday as the company reported another challenge for its Saturn Banks site.

Read more
3 May 2022 15:59

IN BRIEF: IOG oil and gas production steady at Blythe and Elgood

IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - Says production at Blythe and Elgood is stabilising, with 55 million to 66 million standard cubic feet per day of gas, and 800 to 1,000 barrels of oil condensate per day. Uptime rates are steadily improving, it adds.

Read more
26 Apr 2022 16:02

UK shareholder meetings calendar - next 7 days

Wednesday 27 April 
Drax Group PLCAGM
EP Global Opportunities Trust PLCAGM
Global Invacom Group LtdAGM
Hutchmed (China) LtdAGM
London Stock Exchange Group PLCAGM
McKay Securities PLCGM re Workspace offer
Nichols PLCAGM
Persimmon PLCAGM
Primary Health Properties PLCAGM
VH Global Sustainable Energy Opportunities PLCAGM
Thursday 28 April 
Admiral Group PLCAGM
Aptitude Software Group PLCAGM
AQRU PLCAGM
Arden Parnters PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Devro PLCAGM
Flutter Entertainment PLCAGM
Glencore PLCAGM
Glenveagh Properties PLCAGM
Grafton Group PLCAGM
Greencoat UK Wind PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
HICL Infrastructure PLCAGM
Honye Financial Services LtdAGM
Internatinal Personal Finance PLCAGM
Investec PLCAGM
ITV PLCAGM
Kerry Group PLCAGM
Marshalls PLCAGM
Natwest Group PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Robert Walters PLCAGM
Schroders PLCAGM
Serco Group PLCAGM
Synthomer PLCAGM
Weir Group PLCAGM
Yamana Gold IncAGM
Friday 29 April  
ADVFN PLCGM re director appointments
AstraZeneca PLCAGM
BBGI Global Infrastructure SAAGM
GreenCoat Renewables PLCAGM
Holders Technology PLCAGM
HSBC Holdings PLCAGM
JPMorgan Claverhouse Investment Trust PLCAGM
Kingspan Group PLCAGM
Minoan Group PLCAGM
Nostrum Oil & Gas PLCGM - re notes restructuring
Pearson PLCAGM
Photo-Me International PLCAGM
Rotork PLCAGM
Smurfit Kappa Group PLCAGM
Travis Perkins PLCAGM
Monday 2 May 
no events scheduled 
Tuesday 3 May 
AVI Japan Opportunity Trust PLCAGM
CPPGroup PLCAGM
F&C Investment Trust PLCAGM
IOG PLCAGM
Plus500 LtdAGM
Smithson Investment Trust PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
13 Apr 2022 19:46

TRADING UPDATES: McKay backs Workspace offer; IOG fixes Blythe fault

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
4 Apr 2022 11:27

IN BRIEF: IOG says fixing Blythe fault to take longer than expected

IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - Says fault at Blythe well is not yet solved, and will require "additional process and safety studies and procurement of materials" before the solution can be implemented. The fault is a mechanical issue on the Blythe topsides and does not affect the Blythe reservoir, IOG notes.

Read more
17 Mar 2022 11:55

TRADING UPDATES: Portmeirion restores dividend; Empresaria in profit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
16 Mar 2022 13:56

IN BRIEF: IOG confirms first gas from second site at Saturn Banks

IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - Announces first gas from the Elgood field at its Saturn Banks project. This follows first gas from the Blythe well announced on Monday. Will assess initial flow rates once stable production is established at both sites. Annual production guidance will follow in some months as it analyses resevoir performance data.

Read more
16 Mar 2022 10:02

IOG achieves first gas at Elgood and Blythe

(Sharecast News) - UK gas and infrastructure operator IOG announced first gas from the Elgood field in the southern North Sea on Wednesday - part of the first phase of its Saturn Banks Project.

Read more
14 Mar 2022 19:43

TRADING UPDATES: IOG's first gas at Saturn Banks; Oriole spots gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more
11 Mar 2022 18:07

IN BRIEF: IOG signs gas sales agreement with BP Gas Marketing

IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - Signs new sales agreement with BP Gas Marketing Ltd, which covers its equity gas from all of the Saturn Banks phase one fields, as well the Nailsworth and Elland fields in phase two.

Read more
4 Mar 2022 20:53

TRADING UPDATES: IOG to cut Gazprom ties; wholesale changes at Donegal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News:

Read more
25 Jan 2022 19:12

TRADING UPDATES: Cordiant raises GBP200 million; Home REIT spends

TRADING UPDATES: Cordiant raises GBP200 million; Home REIT spends

Read more
10 Jan 2022 12:13

IN BRIEF: IOG rig relocated due to issues with seabed conditions

IN BRIEF: IOG rig relocated due to issues with seabed conditions

Read more
10 Jan 2022 09:39

IOG to temporarily relocate Hans Deul rig as seabed conditions compromise stability

(Sharecast News) - UK gas and infrastructure operator IOG said on Monday that drilling operations had continued at its Southwark asset since the first development well was spudded on 30 December but cautioned that the Noble Hans Deul rig had experienced "an increasing challenge", with seabed conditions that could compromise rig stability.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.