Member Info for bloodninja

Lol, I was enjoying the daily gains, all wiped out in an instant

That's what I thought, so administrators can sell those subsidiaries at fair value (question mark) and if they're worth anything that'll be good for shareholders? Seems unlikely (bond holders and creditors ahead of shareholders), but the point is just because the subsidiaries aren't in administration doesn't mean they aren't part of the IOG ownership package?

Just Google it, if parent in administration then subsidiaries can be sold to pay creditors (but not shareholders I'm guessing??).

Bebeto, surely by virtue of the fact that they are subsidiaries means IOG PLC owns their shares (otherwise they wouldn't be subsidiaries?), as such the shares are assets owned by IOG.

40p broken, seems to be in free fall, interesting as so many buys pouring in! Market thoroughly unimpressed with the outlook it seems

Exactly, hence cash shell, some other company that's not listed yet can Reverse in and use tax losses on their profitable business (that's how a tax shell works); reality is this company cannot operate with current team, they don't know how to run such a company, so it's done.

Looks like 1p just gone, what a disaster. If someone could line up a sale of the assets then it's potentially worth buying the company outright, sell all the assets to clear the bonds, then turn company into a cash shell with the tax losses in it. Seems like that would be worth more on that basis than the current market cap (forget O&G this company / team fail in that industry entirely)

Reason for 35% drop? Couldn't see anything alarming on a quick skim of rns, is it just uncertainty?

Sad to agree but it seems extremely likely, good potential for new holders though.

3p went just as I posted last message, 2.94p on bid, disaster of a share

3p looking about as strong a support as a warm mars bar currently!

A potentially controversial opinion but the fall could be considered good for keeping the management team focused on performance of the company, remember they have long term performance incentives in place in the form of free shares that vest once the share price reaches just over 9p (I think it was), so for the SP to hit that before the company is in investible/good shape would be a travesty (i.e. they could just hit it, run off with shares and not look back). So for now that incentive to grow the SP to and beyond that level remains, which is good (just not for holders who are checking their portfolios daily/hourly/by the minute)

Neil777 on what basis do you believe this will go up out of interest?

4p to buy as many as you want currently, what's so bad about the RNS?

Good to see the purchasers of the placing shares are now underwater too, good that the pain is shared

All gone pretty quiet here now it seems, best of luck to those that decide to hold after tomorrow. Unfortunately the board will disappear when the delisting occurs so hopefully folks find another way to keep in touch, would be fascinating to know how this plays out, sold at a small loss here I don't mind admitting.

Mags has gone from full blown ramper to full blown deramper here, what useful input to the board

Agreed, magmyanus ruins these boards and ramps any share that's dropped to high heaven, toxic individual, follow his advice with extreme caution (all IMHO of course)

Continues to drop it seems, can buy at 159-160p currently, agree that it seems odd based on the numbers in the RNS. I think it's a reflection of the below market-expectations of numbers that's done it, doesn't matter how good they appear if the market expected otherwise then it will be priced accordingly. Seems relatively good at this level IMO (IGNORE MAGS AT ALL COSTS, HE WILL RAMP THIS TO HIGH HEAVEN, DYOR)

Interesting price action, also an almighty sale of £522K (value), I wonder if the increase on bid is the result of buyers wanting in before delist (it certainly can't be because of a huge sell!)

Looks like bid just stacked it, today's gains gone for now