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Ugly price action tbh. Don't like it much
Waiting for the signatures like Rupert the bastadd said he is getting
fiona mcaulay?
i see the new team are an extension of the same old. it's a scam suite and the rns's prove it
i welcome a libel suit. i'll take them all ****in down. legal action will be the least of their worries if they go ahead with full theft of the assets here
The only crooks up voting you are the rest of the short team who have brought IOG to it's knees.
Now bottom is in and most closed yesterday and today you're pretending to be an innocent retail long
You snakes. You disgust me
When. RNS is released to say signed you'll all slither off after taking people's savings, pensions, salaries.
you didn't do a little more research. everything you know today you also knew yesterday.
only newbies believe the **** you lot write.
this share has been massively manipulated. rupert newall is the number 1 crook and the rest of them in on it. house brokers, bondholders, nomad, directors, every last one
winnie and his team of inbreds etc
destroyed value here from 40p to 20p to 16p to 8p to 4p to under 2p
Have you closed your short now Openheimer
Made small top up 1.85p
Good luck all. Either way we know in the next 24 hours from now.
Double or nothing
If its a 1 month extension then double
If its longer say 2 3 months then triple by end of the week
DYOR
By the time we get my bagger it might just be too low to matter.
Oh well still holding for 100% tomorrow
200% from here in the next 2 weeks
Tomorrow's 100% riser 🙏
Look at all that selling openheimer 🤡
IOG plc ("IOG", or "the Company"), (AIM: IOG.L) provides a further progress update on discussions with bondholders and on production operations.
The existing waiver confirmed on 22 June 2023 postponed the interest payment due on 20 June 2023 under the €100 million senior secured bond ("Bond") to 31 July 2023, together with certain other amendments. Since then, the Company has held extensive discussions with bondholders and their advisors and is now at an advanced stage of agreeing a further waiver in order to provide an additional period of stability to address balance sheet challenges. The Company expects that this waiver will be signed as soon as practicable.
In the event that the Company does not obtain a further waiver from bondholders, an event of default under the Bond Terms may result, which could potentially lead to the Company being put into administration. The Directors do not believe that this is a likely outcome and anticipate that the waiver will provide the Company with a further period of stability. In addition, no plan has yet been agreed around a longer-term solution, on which a number of potential options will continue to be discussed with bondholders.
Operations
· Blythe H2 gas rate has seen natural decline to approximately 26 mmscf/d currently, with over 95% operating efficiency in July and no associated water production
· No change to Blythe remaining reserves estimates (FY2022: gross 1P / 2P / 3P 24.6 / 42.3 / 46.8 billion cubic feet equivalent)
· The Perenco Bacton terminal annual maintenance shutdown is scheduled for early August and expected to last approximately one week, which will curtail average production in that month
· Gas prices have remained relatively weak over the summer, with realised prices averaging in the 70-75p/therm range in July; market volatility remains high.
Rupert Newall, CEO, commented:
"We are now at an advanced stage of agreeing a further waiver, which we expect will be signed as soon as practicable. We continue to have constructive discussions with bondholders and remain focused on delivering an outcome in the best interests of all stakeholders in IOG. We will keep the market advised on further progress at the appropriate times."
Shorts closing heavily on the drop.
Remain cautiously optimistic. Rupert Newall wouldn't tell us it's close to being agreed if it wasn't.
4p 5p possible on Bonds extension (few months)
Obviously no extension then it's dead but board are confident it will be signed shortly. They told us so.
Like I said last week don't mind 2p to move money in. Near enough.
Now for extension signed, after hours RNS?
Go from there
Right I'm done buying. Fully loaded.
Thank you for the drop MM's and sellers.
Now wait for the pleased to update the market
Extension signed RNS
Should see 4-5p in next couple of weeks.
Throw in 33rd round licensing news on 9 potential new areas after today's announcement by Gov they'll be supporting
And gas prices expected to massively rise again this winter could be looking at 200p + again to bring in massive cash from H2, H1 and Elgood
Not great RNS
Been adding heavily into the drop.
Extension signed for say 3 months and we'll double from here
Added a few last 10 minutes of the day.
Hopefully update on Monday re bonds
I'd say the same thing to anyone on the sidelines.
If already in and inevitably down at least 30 40% minimum then what you gonna do. More likely you take the risk and hope it's not too bad a deal but only hold what's a comfortable level that won't wipe out your pf
I wouldn't be telling anyone to buy before bond resolution
Long term bonds should take a while to negotiate I'd think.
At this stage I'd be happy with a 3 month extension to allow the business to stabilise and cash to build.
Whether or not that happens we'll have to see
I wouldn't be too upset about a short term dip on some kind of deal as I've moved cash to take advantage of it. As long as its not 0.2p or something as that would hurt a bit but I'd survive it.
2p would be OK
I'd rather they raised cash on the market to shore up the account balance than give away too much in a poor deal with BH's
A little bit sh*t at the moment.
The SP might go to 0.2p or 2p or 20p
But whatever the outcome, you'll still be a kn0b
I don't mind 2p if its part of a deal to restructure the Bonds long term. It won't hang around there for long imo.
0.2p is obviously complete wipe-out but I doubt that happens here after HUR (I know you like to say it's irrelevant but it's not. And doubt the Board and BH's would be inclined to test the Court)
Let's see.
Won't see shaml again anytime soon then
His whole thing was around LOG selling
I'll miss them. Beb too