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Depending on the extra charges could be up to £3m needing to be paid in shares.

30% dilution should cover this coupon payment in equity.

That's probably where the negotiations are. IMO

Down 40% but do the bondholders want it or how much equity will they want?

IOG has nothing else to offer that I can see.

They're negotiating a second short term waiver for the interest payment coupon.

Obviously these negotiations are ongoing and the bondholders will be wanting more assurances etc

The production forecast is down r0% from the last waiver.

The only dealmaker I can see the company giving the bondholders at this time is equity but do the bondholders want it?

They're trying to negotiate another waiver extension on 40% less production than the last waiver..

it could prove to be costly for shareholders if it's approved by bondholders... But even more if is not.

Wake up and smell the coffee to the risk here.

Usually that fella is well researched but he's got this one wrong IMO probably just a quick trade

A few more just got trapped in here by the looks of it...

Holding severe losses and can't stop topping up is just a recipe for disaster!

There's loads of them here, expecting a shareholder bloodbath

EGM won't do much shareholders are going to be royally shafted by dilution there's no other way around it.

Situation is completely dependent on the Bondholders now !

The bondholders are in such a commanding position now, they could easily come back with a waiver counter proposal and take equity just for accepting the waiver extension.

I make it just over 40% drop in production for August.

-18.5% decline from 32 to 26 mmscf/d

-25% Bacton 1 week shutdown.

BTW 26 mmscf/d wasn't forecast until early October which would mean that Blythe H2 will be unviable for IOG plc by the end of November.

SWC correct, my calculations were to average 25mmscf/din alignment with the 20 mmscf/d to 30 mmscf/d

But the well decline is meant to produce at the start at the higher end of the scale with the mid point being 90 days being 25 mmscf/d and 20 mmscf/d towards the end of H2

Not just over a fortnight !

So the 18.5% drop in production in just over a fortnight wasn't a concern?

32 mmscf /d dropped to 26 mmscf/d a drop of 6 million cubic feet per day.

It's the difference of the company's survival, to pay it's debts and obligations.

If the decline continues it's game over and I'm sure the bondholders will also be concerned.

Nothing to see on there but if the talks break down this could go straight into administration & suspension trapping everyone.

No one seems to care so keep buying fellas !

See you on the other side.

Never seen this many get it so wrong but it's about time if you don't research properly you'll get caught big time eventually!

Even if the bondholders agree to the waiver it won't change the inevitable mass dilution for shareholders.

From today the company is in default, so if the bondholders talks break down without an agreement. They can demand immediate payment which would be game over for shareholders but people still think it's a buying opportunity.

Coldspy, the only one's who would be shorting this is those covering big losses. I doubt anyone else would see this as a toppy opportunity.

If you're looking to blame anyone for your losses blame the rampers who can't see the wood for the trees.

Crazy to buy at this stage better to wait for the bonds to be fully resolved and the company raises new funds for another drilling campaign.

Let the company get on a solid financial footing and it will have the potential to do well.

It's only the current shareholders are looking at being royally shafted in this or the company goes bankrupt.