Member Info for aligator

dunder, I agree but, given the history with this company, there is still a chance the spring will break. It has been a very long, onerous and traumatic haul to get to this point and I suspect there are many private (even institutional) shareholders like us who are just looking for an opportunity to exit on a relative high. That is why I think that many will sell into positive news from Southwark, thus limiting sp gains. I don't even want to think about negative news!!!

Sounds exciting but, of course, this is what PB has been telling shareholders for the past 18 months. Indeed, this interview is almost a mirror image of one about 12 months ago - the wall of cash interview. That said, I hope that 2023 is the transformational year for TXP that PB predicts. It certainly has the potential with Cascadura first gas, Royston drilling and Kraken re-evaluation/drilling - Royston and Kraken being potential mammoths in terms of reserves and production.
I no longer view TXP as a binary proposition - i.e. it either goes right or goes wrong - as Cascadura is almost a given and will fund development and exploration drilling on its other assets. PB suggests that next year could see the company being termed as a midcap, rather than the minnow which it currently is. If this is the case and Royston and/or Kraken produce solid evidence of massive reserves, then I could see the share price 200-300p. For this who are buying now, that is up to a 5-6 bagger.

You can view in youtube - "Malcolm Graham-Wood speaks to Rupert Newall, CEO of IOG plc"
Agreed, edgar222, an impressive first interview underpinned by Rupert's knowledge of the company, the industry, the gas market and the capital markets.
My only concern was his comment about Southwark first gas being "around year end". Don't know whether this was intended but previous comments of "prior to year end" appear to have disappeared. Not material in the greater scheme of things but, again, the market never sees good in a failure to meet self-imposed timeframes.

Should be interesting.

What a kick in the crutch of the ordinary investor. I trust that PB and his colleagues can sleep easy. An 8.5% dilution for being a committed shareholder....

Let's be blunt here. PB has consistently misinformed and mislead investors, private and institutional, for some time, including his wall of cash comments and assurances that the company would not have to raise funds. At the bottom line, PB does not give a flying fck for investors, so proven by this announcement and the subsequent drop in the sp.
I think it is time for PB's continuing role to be reassessed as, frankly, I suspect he has now lost most, if not all, credibility with the investor community. We all appreciate how difficult it can be developing hydrocarbon assets in countries like T&T - corruption, politics, weather, etc - but PB has been given enough rope to now hang himself with this statement. I can only hope that major shareholders now do something about the situation.

hm, I would not trust twitter or Facebook one iota. These are mediums for disinformation and downright lies. I doubt that the market gives any credence to information displayed on such platforms. That said, some of the RNS' I have encountered over the years would put people in jail in the USA. In any event, I think you are doing the right thing by accumulating as funds allow. Barring a set of totally unforeseen circumstances - project, corporate, economical or political - Cascadura gas will transform this company and 65p purchases will seem the deal of a lifetime.

deniscaff, I would argue that she has expertly tap danced so as to point the finger at others. I even believe that the sp would react positively to her stepping down so long as the replacement had real clout in the industry.

With the sp gradually slipping backwards, one would have thought that PB et al would be keen to maintain information flow. However, since the 8 August Cascadura EIA announcement and the 11 October Coho first gas announcement, there has been radio silence.
In reality, there must be a relative slew of information, including milestone achievements and critical path progress, which could be brought into public knowledge, not least relating to Coho gas production rates and Cascadura development.
I am continually puzzled why small companies like TXP, prospectively on the cusp of greatness, see fit to deprive shareholders and the markets in general of such information. Theoretically, it should all be good news and, in the case of TXP would, in all probability, underpin the share price, if not enhance it in advance of eventual Cascadura first gas.

Not forgetting dunder that, as a geologist, she oversaw the technical problems encountered with rig movement, production well issues and drilling fluid loss, etc. Not exactly what I would define as injecting her expertise into the company.

As most if not all shareholders will have recognised, the resignation of Andrew Hockley was not followed by the resignation of Fiona MacAulay, who has presided as Chairman during the last few years of problems, pain and anguish. Frankly, she should have fallen on her sword too. Further, the collective contribution of Isa Ikaheimonen and Neil Hawkins, as NEDs, during this period should also be under the microscope.
As I understand, an EGM to vote on the continued roles of FM, II and NH, can be called by just 10% of shareholders. Surely, this is a figure that could be garnered within the private investors? Dunder, what % did you amass during the last crisis?

It can actually be either "font" (US English) or "fount" (UK English) as the full word is fountain....

Delighted with this announcement, not just for myself but all those LTH's who have shared the perilous journey over the years. That said, I am conscious that the RNS does not talk about the water ingress at Blythe - specifically has the downhole problem been solved or have the water processing facilities at Bacton been upgraded to cope with it? As always, would appreciate thoughts/comments from those knowledgeable in such matters. A2 production pre-year end would also be a nice Christmas present and A1 thereafter (January?) should have the sp ticking upwards nicely.
Given past experience, I have given up trying to make sp predictions, but I am assuming that winter will bring higher gas prices in parallel to full production from Blythe, Elgood and Southwark.
Well done to RN and DS but disappointed that FMcC and the two non-exec directors are still in situ.

Thought the board change announcement might have been the stepping down of FM whose contribution over the past few years has been limited to say the least. This company now needs a heavyweight Chair who has both industry and financial experience and top level contacts in both.

Just goes to show how an RNS, which is more explanatory and logical can cast the BoD in a more proactive, rather than reactive, light, to the benefit of the sp. As the bulk of posters on this board have said over the years, it has been the timing, wording and negativity of previous RNSs which have been an equal cause of problems (apart from the physical issues themselves) for shareholders.
RN and DS appear to have got to grips with matters swiftly and hopefully this morning's gain will set the tone going forward. That said, only a passing comment on optimising Blythe production, would suggest that this project is still early stage. More positive news on that must surely enhance the situation.

I share the concerns of many of my fellow long term holders about the company's ability to fund itself and note the analyses presented by various posters, some suggesting that it will be nip and tuck if the company can survive financially. All I would say is that Rupert Newall's first announcement stated:
"Following yesterday's update, and with 2022 capex guidance unchanged, it is important to reassure our shareholders that IOG has sufficient liquidity to work through current operational challenges and that the changes announced this morning do not imply any upcoming capital raising plans."
That is a definitively binary statement and RN would have been very strongly advised not to include the words "...has sufficient liquidity..." if that was not the case.
Accordingly, we must now hope that Southwark comes on stream during December, the Blythe/Bacton issues are resolved and gas prices remain at or above current figures.

Agreed Mole. That said, If Rupert fulfils his visions of creating shareholder value, I'll live with the matter. However, MacAulay has to go. All she has done has taken a fat salary and cheap options for minimal contribution.

Absolutely amazing how a short positive message about financial status has not only halted the sp decline but actually resulted in a significant bounce. This is what has been missing from the BoD over the years. RNS's have been totally negative without a hint of potential upside, etc. I think this sp turnaround justifies the past criticism heaped upon Hockley and, by dint of control, MacAulay and, as I wrote before, I think the latter must also fall on her sword.
As many posters have calculated, this company is worth multiples of its current marketcap but such financial focus seems not to have been part of Hockley or MacAulay's attentions.
Newall is a large shareholder and I think we can feel a lot more confident that his focus and attention will be, as he says, increasing returns for all shareholders.

I think now is the time for Fiona MacAulay to go as well. Her contribution as Chair of the BoD has been frankly abysmal and she simply has no gravitas or market perception to lead the board of a company of this nature. On top of that her 6 figure remuneration is just not justified.

Quite where this announcement leaves Berkshire Hathaway, LOG's administrators and Lombard Odier is difficult to comprehend. For Berkshire Hathaway, the loss of asset value will no doubt be considered small change (albeit difficult to swallow) but for LOG and LO the loss of investment value will be horrendous. I just wonder if this might be the proverbial straw in terms of AH's and the BoD's continuing roles in the company?