Member Info for Cjm83

Because H1 took half its revenue to de water onshore. So With H2 you contaminate even more good gas if you keep H1 online also.

JH77 as ever consistent and committed to the end. Dedication. Haha

Just a supply vessel for annual maintenance nothing more. Helicopter also went there last few days. Just standard stuff really.

Yep. We may not see the big peaks like last year but i recon £2-3 a therm more consistent dome trend. So profits 3-4x over winter makes a lot of difference.

But who knows. Whilst this summer we were over due a crappy wet summer we are also over due a beast from the east style winter.

Basically IOG usually always starts negative even on good days so nice to start up a bit.

They may not get the licences as they cannot drill the ones they have, national energy security and all that.

But like you say something is going on IOG hold some good fields right now and they have value and can be bought relatively cheaply.

The issue is the Southern sector is quiet specialist.l and fraught with issues risk vs reward.

If you can drill in the southern north sea you can drill anywhere.

It will be interesting,

Which is why normally you drill 2-3 producers to spread the production. If you have issues with one you can solve and still produce.

Yes you have peak test rates then there is an initial pull back on rates so as expected with H2 the question we will see is how much it degrades from here. The drop should reduce and become steady.

We will see what happens over the next month or so.

I also believe gas priced wont reach 5-6-7£ a therm this winter as we know what we have ahead. Other producers have been banging out 2-3 wells this year to increase capacity.

We will however get a less erratic price maybe upto £2-3£ a therm but a steady dome shaped curve so the average over the winter will be up but not the peaks we saw last year.

That would be lovely.

H1 loses over half its revenue just on de watering the gas at Bacton. It would contaminate H2 so not worth it. Quality gas for maximum price.

The only issue is the first winter there was panic this winter we know what is in store. So the peaks wont be as high but mores of a sustained high.

If all IOG has going for it is super high gas prices then they are on trouble. We have had a whole year of gas production and other companies increasing production.

I hope we get some high gas so people can then atleast break even or get out on their own terms.

But who knows it is all guessing the future maybe this is the pain before the mega profits.

The cynic in me is someone is going to make a killing on IOG and it wont be us.

Seen this Bs before where a company goes down. Through bad management so begs the question how do these people survive.

They are like football managers fail take as much as they can and move on to another company to fail again.

I will add a proper team with experience yes there are always issues drilling the Southern north sea. This company could be flying very high right now that is what is frustrating.

If companies pull they plug they tend to do it quickly not faff around.

The uncertainty is killing the price at the moment. Imminent signatures does not take long. So yes more nerves.

If you believe you have to cut through the crap but even the best of us second guess.

I learnt in the last year reading forums more than posting that, my performance is worse maybe coincidence, maybe because there is that human flaw where you over question your position based on what could be a fabricated story behind the screen. Quite a weird psychology to it.

I would however worry that a lot of the buys look like punt money so could give a false view.

They look at the graph only see some news and go well it could be £500 To £2000 or nothing, take a chance.

I was out now i am back in but very small amount i am bloody doing the hokey kokey in out shake it all about.

Yep looked also nothing special there. Remember when times are tough there are a lot of frenemies and BS.

You have to be in it for yourself manage your risk. Sometimes you need big balls for big gains.

Which is why the media and press coverage says IOG on verge of administration.

Ofcourse it may not get that far, but the risk is super high.

I do believe in the IOG assets however they are a small company 40-50 people spread to thin. The Southern north sea can be a hell of a challenge so you have to drill wells some come good some have issues, but those issues are not necessarily field wide.

H1 drilled into a fault which can be see on seismic but again spread thin did not catch it.

People say they buy to average down but you have to question if that is true. Unless in £ terms the amounts are fairly small.

Flow rate do fall back after a few weeks after the peak. Like opening a fizzy drink initial spurt then a steady rate. This is why usually you drill more wells and then phase 2 some injectors to maintain pressures.

I had to leave as i could not afford the losses as £20k down here so i had to stop that last Friday, left some in Monday incase the RNS was good.

Shame the RNS was a bit of nothing really they may as-well waited until the bond was agreed or not agreed.

The cynic in me says it was to reduce the SP further so people can enter knowing the bond is extended. If so then you are all in good shape. But i always say sometimes the best decision is to cut losses, tough here though.

With the Assets IOG have there must be a reason they are here on AIM i suspect it is a fundamental management issue. Yes they have changed but they could just have changed captains on the titanic after already hitting the iceberg, ie still sunk.

Time will tell i guess.

Haha i always make sure my shares are round numbers 1000,10000,100000. Etc

Not that weird

I had the same thought but due to starting a business in the last year i need the money so had to sell. 2p was to risky and my average was 5.5p.

Of course on these boards you never know peoples situation behind their decisions.

I hope you are right, i know it does not work like this but i want you all to make money.

That is true but also share that go to zero also have buys as people jump on perceived value. Yo still have to be very careful.

Nope sold 500k shares friday. Another 250k today just missed the 3p mini peak. The rest will be out end of day i recon but my stop losses will trigger first i recon.

Sometimes the smartest move is to take a loss.

To be honest my IOG optimism has been up and down.

On one hand they have good assets but they did not maximise their opportunity. Gas prices will rise but how much is unknown. We were already one £2 a therm this time last year.

Like some say can go either way.