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Sitting in front of a cosy log fire tonight in the red alert area of Scotland. Incredible snow today, so popped open a beer and ended up on the IOG page. Realistically what kind of revenue could the pipe bring in (is it charged per therm?) assuming little work and cost is required to bring it back to production and could that be a revenue producing asset this year?
Gives the contractors some liquidity to offload some shares unfortunately below 19p (if) they are. Sure additional news coming shortly such as the pipeline etc will get us to the right side of 19p. The board wont want the price down here having to top up any skipper debt shares sold below 19p
They have titled it 'friends with benefits'. Ps you need to sign up to access the material. https://*********************/companies/uk/oil-gas-e-ps/independent-oil-gas/research/finncap/friends-with-benefits/173e332a-4feb-47f6-a795-0ac40db1a432
Not long now; reposting a link a fellow IOG poster shared a number of months ago. https://oilprice.com/images/tinymce/2016/Zombe3.png
lossgain, I'd also like to welcome to the board. Was his hat upside down collecting funds to get us to production lol . . . ? In all seriousness though, if any presentations were made / recorded could you please share links should you come across them for IOG.
Morning Longside, I fully understand they wont say why he has left. Previous board notifications have said when they are moving onto something else. This one is immediate and nothing said about what he is moving too if anything. A simple one liner to say that funding arrangements continue unimpeded would have been enough given that funding is critical and he is leaving after 18 months right as its due. Relatively speaking I have a lot in this play so not trying to spook people. Can't be long to some proper news now.
Why is the finance part of the board leaving during the crucial funding negotiations due the quarter?! Would have liked more information on this one. Extracts taken from his announcement joining iog July 2016. "Andrew brings a wealth of corporate finance and capital markets experience to the Company and is currently a managing director in the corporate finance business of the Edmond de Rothschild Group in London, and a director of Edmond de Rothschild Securities (UK) Limited. Between 1999 and 2014 Andrew ran the corporate finance team at Edmond de Rothschild Securities, specialising in public and private company M&A transactions and capital raising. Prior to this, Andrew held senior positions at both Schroders and ING Barings between 1976 and 1999. Andrew is currently senior independent director at Aminex plc, the London Stock Exchange listed East African focused exploration and production company, and sits on Aminex’s audit and remuneration committees." Mark Routh comments in he and David's appointments. "Andrew has an extensive track record in corporate finance and capital markets and his current role with Aminex brings broad and current oil & gas experience to IOG. His appointment as Senior Independent Director further strengthens our Company and Board and we look forward to working with him in his new capacity."
14th February 2018 Independent Oil and Gas plc Directorate Change Independent Oil and Gas plc ("IOG" or the "Company") (AIM: IOG.L), the development and production focused Oil and Gas Company, announces the following Board changes effective 14th February 2018. Andrew Hay is stepping down from the Board of Directors with immediate effect. The Company is well advanced in seeking a new independent Non-Executive Director to join the Board. Mark Routh, Interim Chairman and CEO of IOG, commented: "On behalf of IOG I thank Andrew for his service since joining us in July 2016 and I wish him well in his future endeavours. We look forward to announcing very shortly the appointment of a new independent Non-Executive Director."
Makinghay, I'm assuming your frustrations are with on line quotes. Could I suggest you call your broker and give them a target fill (number of shares) and maximum price you wish to pay. They might be able to work an order over the course of a day for you with regards to low volume stocks. Online will quote you for what's available at that time.
Afternoon all, It was myself that recommended the Vox markets app for RNS notifications, Its the fastest I've come across to date and free via a customised watch list. It also gives access to a daily podcast usually interviewing CEO's of small AIM companies. Hope others have found it useful. PS if the price can stay down here for another two months I can top up nicely when my bonus comes in.
Roughly this time last year we had the additional confidence booster of Conversion of Salaries and Fees into Share Options Mon, 23rd Jan 2017 12:31 I wonder if another is due shortly again?
Morning Boulevard, I agree. I would expect IOG to complete the pigging and confirm the pipelines suitability before any finance package will be provided by any 'prudent' lender. It only saves up to �100m if its fit for purpose. Any work required to make the line fit for purpose will require finance which we don't have obviously Thank you to IOG for putting out some correspondence to help alleviate the quieter periods of this project for any nervous holders.
Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company is pleased to provide an update on the operational progress of its Southern North Sea gas hub developments. Blythe and Vulcan Satellites Hub Developments The Company continues to make progress at its two 100% owned gas hubs, which consist of five fields with independently verified 2P reserves of 303 BCF. The Environmental Impact Assessment has been submitted for the Blythe hub, which includes the Blythe and Elgood fields, in line with milestones agreed with the Oil & Gas Authority ("OGA"). IOG remains on track for Field Development Plan ("FDP") approvals for both hubs by the end of August 2018, in line with agreed OGA milestones. First gas is scheduled for Q4 2019, subject to project financing. The Company expects to issue an update on funding shortly as well as further operational updates on contractors and project schedule in due course. In the meantime, the Company remains reliant for its general and administrative costs on the loan financing in place with London Oil & Gas. Thames Pipeline Preparatory work on the Thames Pipeline continues to progress in line with the Company's plan to capture this major strategic asset at minimal cost. Upon recommissioning, the line will be an important piece of export infrastructure, turning stranded fields into valuable gas assets with direct market access. This will save the Company up to £100m in capital costs and opex of a similar order or magnitude over project life, as well as creating a strategic area of opportunity for the Company potentially to acquire and develop further assets in due course. The regulatory approvals process is now at an advanced stage for the acquisition of the Thames pipeline which will include the appointment of the Company's wholly owned subsidiary, IOG Infrastructure Ltd, as the pipeline operator. The Sale and Purchase Agreement completion deadline has been extended by one month to the end of February 2018 to facilitate this. Operational work continues in parallel with the pipeline acquisition closing process. On 27 January 2018, IOG mobilised the MV Fugro Galaxy to undertake an extensive site survey programme. This covers the Thames Pipeline and the proposed pipeline routes connecting it to all five fields, as well as all rig and platform locations. This is an important step ahead of intelligent pigging operations on the Thames Pipeline, which is required to confirm integrity and fitness for purpose as the Company's key export route. Mark Routh, CEO and Interim Chairman of IOG commented: "We continue to make good operational progress and remain on track for first gas from our 100% owned gas hubs in 2019. Recommissioning an export pipeline is an unprecedented initiative in the North Sea which will make a substantial contribution to maximising economic recovery from UK wate
Any sensible guess as to the lift in share price from successful pigging of the pipe with minimal repairs? Working with the assumption that will drop first
You never know we might follow Kodak, set up an oil cryptocurrency and see the share price rocket!
Hi Madasahat, Agree dealing charges for funds with HL are cheap but it's the management fee they take each month I refer to as being expensive. That's the fee the brokers are canny on when offering their services. Take a look at your monthly statement and you'll see what I mean which is also why they ask for a £10 minimum balance in your account. The company I work for offer free fund dealing and fees for funds so I don't need to worry about them that part. For your fund part take a look at Harry Nimmo. He runs some successful funds on the small / mid cap side. That's were some of my SIPP 's are. Both the UK and Europe ex UK smaller cap companies funds at Aberdeen standard investments.
Sorry lse put the *** in. v o x m a r k e t s is the app. Hope it comes through this time! Its also a free service
Happy new year all, Hi MadasaHat, For now I also hold shares with HL. I say for now because although the service is decent it is pricey and as I invest and hold shares I'm looking for cheaper management fees. May I recommend the ********** app for small cap stocks, particularly the speed of the RNS alerts. You also get daily blogs interviewing directors of these small players, but I also find the RNS announcements come through almost instantly compared to HL and you don't have to renew alerting for each couple of months.
A wee read to reiterate our countries reliance on gas ;) http://www.bbc.co.uk/news/uk-42495883
Which instills confidence further with the capital raise required early next year to raise funds . .