Member Info for aligator

600T,
Totally agree - 25p would be way below where I believe it could go based on everything falling into place over the next few months or so.
Peakview,
I think NH's cv speaks for itself in term of operational oversight of gas field development and production and, specifically, his work in the North Sea. As for what does he bring to the party, I would suggest unbiased views of critical issues and decisions, backed by his long term experience in similar situations. In theory, the collective knowledge and experience of this BoD must rank highly compared to competitors but, as rxdav points out, it now needs to win back the confidence of shareholders. Sadly, in my view, having secured shareholder backing for the equity raise, it is not going about this in the right way.

Morning 600T, I am in agreement with your thinking. The timing is interesting indeed.
Further, this morning's announcement re appointment of Neil Hawkings to my mind adds to the story. Neil is clearly very experienced in gas production and will add, not subtract, to the BoD. Further, the options awarded to Neil, while appearing generous, are subject to, inter alia, sanction of phase 1 of the SNS project and the share price being no less than 25p. I think there are many pi's who would be happy to see 25p again - and more!

Asking price has dropped from 14.50 to 14, spread reduced from 1.50 to 1.00 but share price shoring at 13.94. Sell after sell on a board where it is simply impossible to know if it is otherwise a buy. No announcements from the company. Anyone care to venture a view/views/

600T, Totally agree and hope you are correct regarding more than one interested farm-in partner. As for mucking up plans - you and me both! I was hoping that, by now, the sp would be rising steadily towards multiples of the early ranges. I am getting not younger too and, while I still believe in the whole story that is IOG, I am disappointed with what has occurred over the last 6 months or so. That said, we are still alive and kicking!!!!!!

butd, "Stop bleating"! Coming from you that is just absolutely hilarious. It also installs a serious question mark on your memory of your previous postings. I would appreciate it if you could refrain from responding to my postings - I am only interested in engaging in a mature, informed, exchange of views with fellow investors.

600T, Appreciate the time taken to respond. You make valid points but, as we both know, this is mostly about securing long term funding to develop long term assets. Yes, we are told that we have funding for the Harvey well and operating costs for about 6 months or so. However, remember what happened to the last funding pot which was supposed to be dedicated for the Harvey well.
Failure to secure long term funding could (and I stress could) result in the company being forced to sell assets in order to remain solvent. Again, we both know that proceeds achieved from such sale (if at all) would be a fraction of the assets' worth, destroying shareholder value and putting the future of the company in question. It is this downside that is my focus at this time.
Of course, I am hoping that the next announcements from the company contain the news we seek but I am putting a logical question mark on whether this will be the case given past performance by the BoD.

Peakview, I am a long term investor in the company and have been one of its/the BoD's staunchest supporters during this time. Rightly or wrongly, I have held on to my shares in the hope that, like all investors, I would be duly rewarded in due course. However, events over the last ca 9 months have severely tested my faith and, indeed, my patience with the BoD and I am now becoming increasingly suspicious in the lack of progress, specifically during the last 6 months, and in the lack of communication from the BoD, something it promised to address during the last meeting.
There is a plethora of timeline items which we were reassured about both during the telephone call and subsequent meeting but about which we have since received the square root of nothing by way of information/announcements. I am talking about farm-out, capital markets funding, Bacton, Harvey rig lease, Harvey spud date, FID, etc.
This accounts for my negativity. Simply put, I am of the view that any negative announcement by the company will have a catastrophic impact on the sp. Yes, like others, I would like to see/hear a positive RNS but the longer this silence goes on the more my pessimism grows that positive news is on the horizon..

Anyone willing to volunteer an explanation as to the sp's northerly track on the back of profit taking from the offer, lack of info on farm-out funding progress, lack of confirmation of Bacton purchase, possibility of further FID deferral, significant selling over the past few weeks, etc etc? What am I missing here?

Peakview, Not if it announces further delays in the farm-out/funding process and announcement of FID. Apologies for the negativity but I can only base my views on what is known and, in this case, no news is bad news.
Further, what is happening about Bacton? Why has this not been completed?

t35, On the assumption that all shareholders should be privy to the same information (lol), one has to assume that no one will be in a privileged situation when it comes to making decisions to buy, sell, etc. Further, even if one or more shareholders are in possession of inside information, they will be unable to trade until such info is made public. Thus, you will hopefully be competing on a level playing field in any decision to sell. However, this is AIM - enough said.

trellis 35, Could you please expand on how you feel Lombard and Mercantile are detrimental to the company? I am not doubting your thoughts, just trying to understand why you are concerned and how you feel their presence as shareholders is negative.
I wholly agree with your other comments and feel that the message of communication with shareholders has not been fully absorbed by the BoD. That said, with the sp now touching 13.09, one has to wonder what is actually driving this upwards trend.

butd, I am always happy to learn so appreciate the explanation. The reality remains however that, notwithstanding MM's filling orders or otherwise seeking to "influence" the market, the performance of the sp is at odds with the current environment - i.e. profit taking by short term investors, lack of progress information re farm-in or funding, volume of selling (albeit acknowledge that the amounts are small) and negative sentiment among many private investors.
This is not my heart ruling my head but analysis of the state of play at this point in time. We all know that inside information leaks in markets, notably within AIM. Time, as is always the case, will tell.
Good luck to all investors.

Since the fund raise, when the it declined to ca 10.5p, the sp has climbed to 13p and currently sits just below that figure. Since Monday, all reported trades are sells, yet the sp has remained stable. This defies market and MM logic.
As I have stated previously, the longer the sp stays at this level, the more I have to assume that some form of positive development has taken place. AIM is a leakproof as a sieve so I would not be surprised that leaked information is behind this.
Either way, the clock is now in countdown for the company to either secure capital funding or close a farm-in agreement.

Apologies for belabouring the point, but the puzzling share price movements and lack of information to substantiate such are reinforcing my view that the company is possibly now in discussions with interested buyers and not farm-in partners. I am not familiar with the law about disclosure (timing etc) of formal discussions with potential acquirers -maybe someone could spell this out.
As Hawk states, the company now has 6 weeks to sign a farm-out agreement unless it wants to come back to shareholders with cap in hand to propose a further extension - which would be somewhat embarrassing given what we were told at the meeting.
To quote 600T, logic here would suggest potential buyer(s) are in the frame although the reality may well be less exciting.
All in my opinion of course!

All shares taken up, short term speculators presumably selling to extract their profits, no meaningful news of any sort released and Harvey still to be drilled. Logically, based on the foregoing, the sp would be on a downward track, yet continues to rise. As I said before, and as 600T refers to, this simply does not make sense.
I cannot think of any internal development within IOG at this time which would be game changing with regards to the sp
but I can imagine that the company's asset base is now on the radar screens of several mid/large cap o&g companies.
Many moons ago, I suggested that, if I was the CEO of such a company with an interest in IOG, I would surely seek to acquire the assets (or company) before its progress pushed the sp to a point where I would struggle to justify making a bid. Rock Rose thought that it could do this but, in my opinion, failed because of arrogance and a screwed strategy.
If it is the case that IOG has received further approaches (but no bids - hence no RNS), no one is going to convince me that no company is leak proof. This could account for the subtle drift to 13p.
Of course, this could be my heart ruling my head, but as an ex-banker and risk/strategy specialist I am finding it hard to come to any other conclusion at this time.

Fast_ted, That's what happens when you retire, you lose track of time, what day it is, etc. Had to laugh when you pointed out my error!
That said, the volume of sells just does not stack up to a stable/rising sp. I am conscious that the board does not always reflect buys/sells correctly but what I see suggests, to my inexperienced mind, something going on.

SP has risen to almost 13p despite significant sells earlier this afternoon. As 600t and pv observe, some selling surely due to profit taking but this current price, while welcome, has me baffled. Can't help but muse that something is afoot and news of it has started to leak. Be interesting to see the closing price today - if it holds around 13p I would not be surprised to see an RNS tomorrow morning. Maybe all wishful thinking on my part but difficult to comprehend current sp movements.

I am no expert on share price versus buys/sells but the share trading over the past week or so - for example, a few days ago a board full of red but the share price remaining stable - has me musing about something happening in the background which has yet to become public knowledge. Is it possible that, among the various potential farm-in partners, one has made some form of offer for the whole company and that news of this is leaking, hence the recent trading activity? Or am I wide of the mark. Any other thoughts/views?

600t, I think I need to apologise for my post yesterday at 1436. As trellis35 later stated, you have no need or obligation to any of us to explain your actions and I am sorry that my poorly worded post came across as prying or judging. I was trying to understand if there was something negative that you were perceiving within IOG which had contributed to your decision to sell but, on reflection, my post same across in more of a personal manner.
I think we all feel let down by events over the past 6 months, not least the fund raising which, to my mind, was not properly thought through in terms of amount and timing. And to then announce significant no-risk options to the BoD and other senior personnel was, in my opinion, ill-timed and somewhat insensitive.
I too have put my faith in the BoD and now want them deliver on their promulgations and to keep shareholders fully in the loop, specifically during the next few months or so. I will be mightily disappointed if it transpires that information provided to shareholders prior to the vote was not as all-inclusive as it could have been and I too have several question currently with the company on which I await responses. I too will share these on this board.
Given the disaster which is LCF and LOG and the subsequent arrests and possible criminal actions, I would like to think that the BoD remains extremely alert to keeping us fully informed.

600t, On the assumption that you have more than 118,827 shares (a rather odd/random number to sell), I am intrigued as to why you sold this morning, presumably around 12.5p, which would have netted you just short of £15,000. Are you that concerned with the current situation, so soon after the meeting and new equity injection, that you need to realise £15,000? Not criticising in any sense of the word, just bemused given my own views and those of Peakview below. I would have thought that £15,000 was a figure most investors in this company would be prepared to risk given the potential upside - which could be in relatively short order.

Hi gg, some large trades going through - but not sure if buys or sells given your previous comments. any thoughts on the current state of play? I an assuming that if the share price is holding around 12.5-13p then the mm's are feeling comfortable with the situation for the time being. Or am I barking up the wrong tree?