Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Lets be honest here late year we got caught out Gas wise in Europe so we had a mohican hair cut trend very high peaks and troughs. This year we have a more flat raise i recon at most ( still to early) £2 a therm max but consistent price.
Yes price per therm helps here but the fundamentals and debt and at the moment lack of future plan is holding is back.
Sort the debt and have a plan that investors can believe in ( past management destroyed sentiment) then we will see a steady rise.
Betting on future gas prices is a bit of a farce i think.
So in short making money and profit until debt and a future plan is sorted. A holding pattern.
Questions is is Angus a company for future operations or a recycle for the Higher ups to get a payday a la other AIM stocks.
Been here before
People on a chat board thinking they can change the world oh we have lots of people now big %. Wrong peanuts. I will tell you what happens. This drags on then they ask for money last quote for legal action on another share was 8.9k, throwing more money away for what a very very slim chance. IOG should not have been more than a small % of your portfolio. I am just as annoyed as for me 42k loss is a lot but you have to learn and move on. I know it is difficult as a do not know any of your situations. I can whether this storm mainly because in the same year i made 210k with Rolls Royce.
All i am saying is you do not know anyone here so be careful. Just because someone posts i have bought means nothing.
I know some have spoken personally and that is ok but not all. Basically if i cold called you you would tell me to F off. So take a breather and look at the big picture. Often it is not about the amount of people just the right people.
Wish you all the best.
As i stated before i am in this industry and drilled H2.
So yes i do know people. I am just stating that if this was getting turned around why are the technical team already off to new projects.
All i am saying is we have seen this before with people thinking they are going to take legal action/advice at more cost and for what. In the grand scheme of things we are know one.
I lost money here also, but sometimes you have to accept things happen, i also agree they grabbed defeat from some good assets.
Well i know two technical IOG employees who start new jobs today. So this in my opinion is done and they did not just walk into a job. So just enough staff to over see the Admin i guess.
If anyone believes anyone on a chat sight they are an idiot. The truth is you do not know anyone here, people say they are buying but do not same for selling. I lost a fair bit in this awhile back but got out at 1.5p. Been a crappy day all round for a lot of people.
Here is a question then. Do IOG know the industry they work in? We all know summer prices are at the lowest. Yet they still said they would hoard cash and build a position. So now they get a free pass for not hoarding money and building cash. Seems they can pull the wool over our eyes or did they think summer prices were going to be £1 plus.
luckily iog triggered my stop loss at 1.6p. enough done. iog has cost me 27k, my good run of 6 years came to an end. however usually every 6-7years i have a howler but recover and more, it is almost like i need to have a howler to kick me up the ****.
if they had something positive to say today was the day i would say. know one hoards good news.
they had so much potential. even if another player snaps up the assets at this point it would be after admin.
i really wish you all good luck on this. remember to have a look at your whole portfolio, ask yourself if iog goes to 0p would you lose sleep over it. if the answer is no then crack on. if yes then remember it is always best to get something out and fight another day.
My only issue with Brexit is that with every Public sector, MP, civil servant working against it they cannot blame Brexit 100%.
To quote every public sector probably “ i can do a rubbish job and then blame Brexit”
my issue with brexit is when every public sector, civil servant, mp and media work against brexit you cannot say our current situation is because of brexit. more of a “i can do a **** job and blame brexit” said by public sector workers.
Yes it will cut. H2 with water. But remember that is perfect case as in no H1 and H2 only. As we know as long as H1 makes a profit even with the water or maybe a lower production rate / choke valve setting may reduce water ingress. Then money making is the aim of the game. IOG cannot play a perfect game and have to make money no other way.
Balls to it i cannot get the link to work. Basically the treasury is getting the bankers together to fund Oil and Gas UK projects.
Treasury woos bankers to drum up support for oil and gas projects
https://mol.im/a/1242396
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.