Member Info for Dibs61

Company debt will be completely cleared with sale of two gas turbines with residual sum left to invest in company going forward. IPSA has already received non-returnable deposit from potential buyer of $3m+ which is over half of the current MC without any other assets chucked in! News is expected anytime now.

People continuing to get in before potentially company changing news drops - anytime now.

Hello Volcano. Are you ready to 'erupt' with excitement at the impending news or will you be wafting your volcanic ash in our hopeful faces LOL?

I'm hoping it's a VERY well informed one. ;-) This stock does get a fair number of six figure trades so too early to call any great significance but I think a number are positioning themselves as some are aware we are due news soon.

Yes, nearly half a million snaffled in two quick trades. I wonder......

A few people starting to take positions in anticipation of an update on turbines sale. We should hear something today or tomorrow. I'm not expecting anything final or conclusive but, as bonum says, the turbines sale will come and when it does we will reap the benefits.

I have :-)

Yes and ideally made of steel. ;-)

You certainly live up to your username!! Good luck with that. They need the next few well results to be good and get the production up.

Taken from **************: "Oil and gas exploration investment in the North Sea is at its highest level for 30 years and rising according to trade body Oil and Gas UK. Over 320 exploration and production companies invested 11.4 billion pounds in the region in 2012, with forecasts predicting this to rise to 13 billion pounds this year. The increase in investment has been partly attributed to new relief measures passed by Chancellor George Osborne, which make gas fields in shallow waters exempt from a 32% tax on the first 500 million pounds of income. Malcolm Webb, Chief Executive of Oil and Gas UK, commented, "The recent introduction of targeted tax allowances to promote the development of a range of difficult projects..has prompted global companies and independent businesses alike to take another look at the UK as an investment destination."

Enegi have the following interests in North Sea: On the 14th March 2012 Enegi announced that it has entered into a strategic partnership with Advanced Buoy Technology (ABTechnology) Ltd ("ABT") to apply for offshore assets in the UK North Sea under the 27th Seaward Licensing Round organised by the Department of Energy and Climate Change (DECC). The results were announced on the 26th October 2012 when the Company released the news that it had been offered two licences. These offers are the Company’s first licences in the UKCS and the intention is to develop these in conjunction with ABTechnology (“ABT”) and its buoy technology. Licence applications were based on the identification and evaluation of assets which, in the Company’s opinion, were suitable for buoy technology as conventional development solutions would not be economically feasible. Of greatest importance in selecting these assets was a clear indication of the presence of hydrocarbons, remoteness from available infrastructure meaning that a small, standalone development solution would be necessary, and a physical environment that would allow a buoy to be successfully implemented. ABT has access to buoy technology and industry expertise that enables the economic development of proven offshore oil and gas assets classified as marginal or sub-economic under conventional development methods. In particular, ABT has a strategic partnership with Wood Group PSN, the international energy services company, to commercialise and ensure deliverability of unmanned buoy technology. Details of ABT’s buoy technology can be found on their website www.abtechnology.com. Key Facts • Enegi offered two licences in the UKCS: - Block 22/12b containing the Phoenix Discovery which showed a 30ft oil column - Block 3/23a containing the Malvolio Prospect • Both licences have been identified as having reduced risk through previous exploration and appraisal drilling, but have not been developed due to limiting economics • Enegi’s partnership with ABT provides the Company with access to technology that enables marginal fields to be economic • Upon final award, Enegi will be Operator of both Blocks with 100% interest International energy consultants, Wood Mackenzie, estimate that there are 287 discovered fields in the UK North Sea, containing approximately 2.2 billion bbls of oil and 9 tcf of gas, that are considered non-commercial. This suggests there are potentially multi-billion pound reserves in the UK North Sea that remains to be unlocked. Preliminary analysis conducted by ABT and Enegi has identified 58 discovered fields, in unlicensed acreage in the UK North Sea with a combined resource of approximately 850 million bbls of oil and 685 bcf of gas, which are technically suitable for development using buoy technology.

http://www.irishexaminer.com/business/uk-firm-seeks-fracking-licence-223439.html

The Directors of the company hold around 33% of the shares in issue. Simon Cleaver, the Chairman, bought 75,000 shares as recently as last October at around 80p.

Big buys outweighing sells and we are down on the day. Hmmmm

But I suspect not for too much longer. ;-) This is going to be an exciting year full of ENEGI!

Enegi have this morning announced that they have applied for an exploration licence over their 100% interest in block ON11/1 (onshore) Clare Basin. Clare Basin is highly prospective for shale gas: http://www.naturalgaseurope.com/enegi-massive-shale-potential-clare

Get your backside into gear and sort it out.

Has suddenly sprung to life! Someone been tipping this on other BB's or something? Anyway good to see some interest and nice blue day. IF IPSA can execute the sale of their two turbines (and I believe they will or I wouldn't be here) then the current SP will look very cheap indeed. This is because they will have the necessary funds to repay creditors and there will be zero debt with profitable operations. The NAV in the 2012 accounts was over 11p per share.

That's twice he could have been right today. Pretty good going if you ask me.

This is having it's pants pulled down rather savagely. Where's the volume to justify the drop? Ah yes this one moves quickly either way on very little volume!