Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Longside, Love the humor keep it up! GGIS thanks for the informative posts as always.
The poor person maybe mis-read, "bid" for the 30th round of Oil and Gas authority licensing rounds . . . Either way, welcome you've accidentally stumbled across a company going places!
Very healthy commitment buys, would have expected a slight rise in the price on the back of those two.
Who knows we might even acquire the CP pipeline in a future play for other so called stranded fields .
An interesting article today, the only real link to IOG is the gas though! http://www.bbc.co.uk/news/business-44003521
part two-: All these thoughts combine to give the same thought and it is one which has concerned the market for a long time, viz how will IOG pay for this ambitious but potentially enormously profitable plan? The likelihood is that it will be done fairly traditionally though a mixture of Senior and Junior debt as well as equity and also contractor support. The latter has been done for some time by IOG, not without problems but the industry is getting very used to contractors participating in the financing of the projects and i�m sure will do so here. IOG looks to me like a very desirable play, I agree with the company in its demand and price projections and given that only recently the UK was only hours away from running out of gas consider this to be not much short of a no-brainer. Operationally and financially it will need to be handled with the utmost care though and I think that recent management changes have been enough to give investors confidence in the future. IOG has taken time to build this portfolio and it has not been without its challenges, London Oil & Gas deserves credit for sticking with it as do the management and, at least for the moment, I am sticking with my positive stance�
You beat me to it Pipedragger. Copying the article below-: Part1 Independent Oil & Gas In a fortnight full of exciting meetings I spent the morning last week with the board of IOG in order to get myself up to speed with their plans as I know that there is much going on. IOG has a gas strategy based on a gas hub system in the Southern North Sea with a number of gas fields now made possible by the 100% owned Thames pipeline. This pipeline runs from Bacton and will serve both the Blythe hub and Harvey to the north west via a spur and will carry on to take gas from the Vulcan satellites hub to the north east. IOG has been and for the time being continue to be significantly funded by London Oil & Gas who wholeheartedly back the strategy which has been a smart move up till now. On Tuesday they made an RNS which was an operational update of their current SNS activities and the Intelligent Pigging Programme (IPP). On the IPP they have contracted a DSV from Subsea 7 which has been mobilised and commenced work. The FEED contract has been awarded to Wood for the subsea and pipeline work and which means that the company is on schedule for the FDP approvals for the Blythe and the Vulcan satellites hub by the end of August 2018 and first gas by Q4 2019. This will all happen through a phased development plan which will start with Blythe, Southwark and Elgood, continue with Elland and Nailsworth and all being well finish with Harvey. I say all being well as Harvey needs to have an updip well drilled to establish its size. According to the company Harvey could be the largest of all the fields in the portfolio as the high estimate is 286 bcf but even at the low case of 45 bcf it works. In the high case it would merit a platform of its own and should it be at the lower end it works as a tie-back to Blythe. It comes as no surprise then with all these substantial activities that the needs of a corporate nature are significant and this is where some in the market harbour suspicions. The development of the project, including the appraisal of Harvey, is the most imminent but the company does also have other plans. Expansion of the portfolio has a great deal of merit either through local opportunities, after all IOG will have the best if not the only export route from the SNS soon, or via the current 30th licensing round. Those local opportunities could be buying stranded assets locally, rescuing forced sellers of production or even transporting 3rd party gas through the huge Thames pipeline.
Research-tree com for the missing part of the link
Sorry I don't have the premium content so can only share the teaser they do provide https://*********************/companies/uk/oil-gas-e-ps/independent-oil-gas/research/finncap/the-stars-are-aligned-/5decfccb-8286-4bad-9447-4f4d4ea7550c "The stars are aligned IOG is a low-cost, infrastructure-led development story centred around the creation of high-value gas hubs in the Southern North Sea. It is on the cusp of crystalizing projects that have the potential to unlock material gas resource. Development funding still needs to be secured with a number of sources being pursued; recent success by peers in the high-yield bond markets alongside its independently certified gas reserves give us confidence that this can be achieved. The ultimate delivery of ..."
17 April 2018 Independent Oil and Gas plc Completion of Thames Pipeline Acquisition and Operational Update Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce that it has now completed the acquisition of the Thames pipeline. Pipeline Acquisition · Pipeline acquired from Perenco UK Limited, Tullow Oil SK Limited and Spirit Energy Resources Limited. · Recommissioning of the pipeline is an essential part of the development of the Blythe and Vulcan Satellite hubs, allowing gas export to the Bacton Terminal. · Increasingly important part of Southern North Sea infrastructure, particularly given the closure of other pipeline systems. · IOG is now the approved operator of the Thames Pipeline which it owns 100%. · Peak production from the Blythe and Vulcan Satellite hubs is expected to be 180 million cubic feet per day ("MMcfd") and opportunities for additional gas are being considered. · Ahead of first gas, the Company intends to acquire the onshore reception facilities at the Perenco Bacton terminal. A period of exclusivity has been agreed until the end of September 2018. Pipeline Operational Update · The Intelligent Pigging Programme ("IPP") is underway with onshore mechanical preparation work at Bacton. · Offshore Site survey along the Thames Pipeline and survey of all proposed platform locations and intra field connecting pipelines is nearing completion. · The intention of the IPP is to confirm the feasibility of safe reuse of the pipeline, which is estimated to have initial capacity of 300 MMcfd. Initial results of the IPP expected early May. · Positive initial site survey results suggest a modified proposed tie in point for the Thames Pipeline which should reduce time and cost both for the pigging operations and subsequent tie back to the planned Southwark platform. Andrew Hockey, CEO of IOG commented: "This acquisition is an essential milestone towards Final Investment Decision for our gas hubs. Subject to the Intelligent Pigging Programme results this pipeline should allow for the tariff-free export of our 100% owned gas reserves that were otherwise stranded. Recommissioning of the pipeline may also facilitate the export of new resources that IOG may access and develop in future as well as other gas resources owned by third parties, who would pay a tariff. We are pleased also to be making good operational progress as we head towards Final Investment Decision and look forward to providing further regular updates."
I did have you at the back of my mind. That will cost you about �400 in the long run with the target price we all have in mind. Do the brokers ever explain the skin of shares they take, I've not had to do a transfer as yet?
Nice to see the volumes picking up this week. Looks like an ISA bed transfer at 11:53 marked as two sells incorrectly, (not mine) so cant be 100%. Don't like the way that the poor person doing the ISA transfer gets stripped off golden tickets and has to pay a broker fee for the 'privilege'.
29th - anyone intending to attend?
I'm guessing a separate RNS must be on the way, they surely wouldn't wash such a major event as a bullet point in the year end results . .
Final Results for the Year Ended 31 December 2017 Thu, 29th Mar 2018 15:04 RNS Number : 4685J Independent Oil & Gas PLC 29 March 2018 29 March 2018 Independent Oil and Gas plc Final Results for the Year Ended 31 December 2017 Independent Oil and Gas plc ("IOG" or the "Company") (AIM: IOG.L), the development and production focused oil and gas company, is pleased to announce its results for the Year Ended 31 December 2017. Operational highlights: � Strong progress made delivering its gas hub strategy in the UK Southern North Sea ('SNS') prioritising its core assets and acquisition opportunities � Significant reserves and contingent resources upgrade, net 2P reserves now 303bcf (45bcf at Blythe Hub, 258bcf at Vulcan Satellites Hub.) � Submitted the Blythe Hub Field Development Plan ('FDP'), comprising the Blythe and Elgood fields and Vulcan Satellites hub development FDP to the OGA � Licence P1736 containing the Blythe gas discovery extended by 12 months to 31 December 2018 Licence P2342 comprising Block 48/25a including the western part of the Nailsworth field awarded by the OGA in the 29th Supplementary Offshore Oil and Gas Licensing Round � Acquisition of Thames Gas Pipeline for a nominal consideration providing the proposed export route for IOG's Southern North Sea assets. � Letters of Intent ('LoI') signed with key contractors on SNS Gas Development Project � Significant Prospective Resources confirmed with Best Estimate Gross Prospective Resources of 114bcf (90 bcf on Block) and commitment well for Harvey Financial highlights � New �10 million convertible loan facility (the 'New Facility') successfully signed with existing lender LOG convertible ordinary shares in the Company at a conversion price of 19p, being a 15% premium to the closing share price of the Company post period end � Cash balance at year end of �145k (2016: �247k) with available facilities from LOG to finance ongoing working capital requirements � Approx �1.0 million remained to be drawn of the aggregate availability of �13.55 million from LOG (including accrued interest on the �10 million facility) at year end � Loss for the year of �2.75 million (2016: �21.44 million loss) � Successful conclusion to Skipper Well Creditors' discussions Outlook � Clear objective in 2018 to progress the SNS Dual Hub Project to FID and to FDP approval by demonstrating the viability of the recommissioned Thames Pipeline and progressing development planning and execution. � Deliver an appropriate capital structure for the Company and obtain full financing for the SNS Hubs. � Progress Harvey appraisal plans. ᦙ
I have cash coming at the end of the week / early next week, so any delays by a day or two are absolutely fine by me . . .
I like many was hoping for a funding decision end of Q1. With the extension of the IOG loan facility instead and the below extract from the Feb RNS, I am personally not expecting any further funding updates until August? Am I missing a trick here, cherry picking extracts from the RNS - Wed, 21st Feb 2018 07:00 RNS Number : 4593F Independent Oil & Gas PLC 21 February 2018 � IOG is now fully funded to Final Investment Decision ("FID") on its 100% owned UK Southern North Sea("SNS") dual gas hub development project (Blythe and Vulcan Satellites), expected in August 2018
Anyone able to make the general meeting today? RNS now out.
Morning Peakview, Might be worth calling your broker and asking them to work an order. ie tell them you want 40k of shares and give them a limit price and they might be able to build up your desired position over a day or two in the event of a lack of liquidity?
Morning all, Anyone got access to Arden Partners as they look to have published research on IOG this morning? https://*********************/research/arden-partners/uk-north-sea-m-a-smaller-company-potential-/4a771048-db89-4a75-bac0-85c73da565fc