Member Info for Cjm83

Probably all stop losses.

I would like to think with the commitment to NS gas someone would swoop in and just take over IOG rather than no company.

Caution is needed so average down with funds you can lose.

The trouble is Zendog 0.24p is less stupid than putting more in to average down for a 0.09p average of mine. If this comes good you are fine if not we are both screwed.

With the long lead times it is looking less likely. But who knows. That part of the world also can turn a 180 fast if it is just very slow bribe paperwork.

At this point i want it to happen and if that means 2024 ( rigs are at a premium ), then they need to have the balls to say so rather than wafting along forever that helps knowone. Unless that is the plan.

So we wait and see.

Yeah 0.09 shame i cannot add more at this level. But then i would be way over exposed to Tower if i did.

Got to get a summer first :-)

That would make more sense.

Good. I am just preparing myself for the worst.

I would be very surprised it there was a rig Q3/Q4. It would already be booked in. Personnel contract already signed for the drill if that was the case. I am working a contract now. But signed and rig ready for my next project 2024 Q1. So a rig is not signed they don't just come available.

So we need to look mid 2024 At this point. Could be wrong but the good news or having a rig you would shout load to gather investment as the wheels turned.

So yeah i am heavily down like all and i hope Tower proves me wrong. Prepared to wait though.

Plus we should be going for the easy wins, don't dump plastic in the oceans for one, plant more trees. Basics help a lot. Yet my local council has cut down all the in town trees to make a concrete jungle and the the UK have a very poor hygiene issue, litter everywhere and it is so obvious when you travel abroad.

That is why i say there must be back handers and corruption. Else the basic economics do not make sense to farm this all abroad.

I think what people forget is the immense amount of work to get these things going. That is for the big players. The smaller companies it is even harder. Throw in the Africa factor and things can get frustrating, but can turn fast when it clicks.

So yeah frustration does get to you but it can change.

The issue is the big players move their profits abroad. The actual UK small to mid players have a lot of assets in the UK only.

May as well drill abroad save the windfall tax and still sell the UK gas or oil. Makes no sense it just pushes the skills and money abroad.

This is an issue for IOG and Ithaca who i now have a contract for.

We allow other countries to prosper but not own these politicians must get kickbacks to screw us.

Their climate response is shut down our industry and buy from the middle east plus shipping cost. Destroying our economy.

The issue is the big players move their profits abroad. The actual UK small to mid players have a lot of assets in the UK only.

May aswell drill abroad

I will add i am happy to stay at this exposure until the new year to see how this pans out. But it is always nice to sit at your average whilst waiting for news as when you are down a lot it slowly eats away at you. But this can rise fast in the right situation.

If you could ramp to 5 .5p that would be great so i can reduce my holding at breakeven. :-)

@ lovelife. I agree, same average for me 5.5p, when we are consolidating cash we are subject to gas prices. A good time to short to lower price and get in to wait for winter, so i think we are in that process.

The only issue i saw was with all eggs in one basket if there is an issue all production stops while they fix.

I did notice a few people i spoke to latched on to the 30 mmscf rather than the 42. But again that is temporary. Lets wait and see how it hoes into winter. I recon i wont get back to 5.5p until christmas maybe more if prices rise a lot. Needs a few Quarters to bank the money.

I think by christmas with higher gas prices with show us more on the financials as we can only speculate the gas price. We had a mild winter last year, what if we get a beast from the east style cold spell. But then again that would be clutching at straws.

Honestly who knows where the Sp will go i would like 10p by christmas with increasing gas prices. But probably wishful thinking.

Dont be an idiot, that is not what it says, 32 mmscf is just the current flow rate, they can open it up more but have to feather it in.

I thought that was a good RNS and answered a lot of questions. But again the super negative latch on a single word or number. 42 mmscf is the max tested and that can be sustained.

They need to shut in H1 because the water it draws through the fault is very expensive to separate onshore. Unless we get winter prices H1 does not make money at these levels. It makes a very small profit but it contaminates the pipeline to onshore. So they will shut in H1 and produce H2. Therefore no water in the system.

End of July is also mid year tax bill time so if people put in money thinking this would bounce they probably need it back now.

I hope.