Member Info for edgar222

Anyone got any idea what the condensate sells for per barrel?

How do you know they have not tried what you suggest? Genuine question.

As most of us here can see how undervalued IOG is I am sure the LOG administrators can too. I was told (but do not know) that the LOH might come out of administration and be solvent again if IOG hit 90p per share. Thats quite a prize to aim for.

I just dont agree with most of the moaning on here about IOG management who have quadrupled the shate price since the lows and brought a new infrastructure on stream in record time. But whatever. The silliest moan is the one that is predicated on IOG having any control over the LOG administrator.

Manofmeans

It takes 2 to make a deal and the administrators are not talking to the Company. I read somewhere that the Company were in contact with them on a weekly basis.

What more do you want them to do? If the other side wont sell thats the end of it.

My point is that the financial context means this is not a hige problem. Unless you are a day trader worried about hourly share price movements nd in that case you have made your own bed, IMHO (not saying that IS you by the way!)

Dinsalas

Completely agree with you about the importance of LOG in keeping the IOG show on the road. Without them, no farmout or gas hub.

Back of fag packet calculations. LOG own 26.99%. Using the company website that means the mcap is 181m.

Assuming IOG are receiving £1m per day (though the gas price is dropping) that means that in 2 months they would have the cash to buy LOG's entire stake (assuming unrealistically no other expenditure or call on that cash).

Puts in perspective the LOG "problem". For me anyway.

Multiple prospects, cash in hand, tiny mcap, revenue stream in sight, mining friendly jurisdiction.

While this is not one for the widows and orphans (yet!) I am happy to hold and think this is a buy at these levels.

Fwiw. GLA.

Thanks Mcadder.

I have never been involved in a copper share so all info on commerciality and that industry gratefully received.

We are all aware of the gold plans.

But what would a copper JV announcement do to the share price. Would be left field. Any chance? Copper demand enormous.

Well done Robina. I topped up yesterday.

The SQZ (Serica) results are interesting. Mcap circa £1bn. Read across to IOG been talked about here before. Will do a comparison when I have the time (day job keeping me busy atm) but on first blush reading both the reserves and the revenue look comparable if not worse than IOG's future?

Both the first payment for gas sold and the investor meeting event are happening on the 20th April.

Alligator (and others moaning about management)

Have you ever managed a construction project? Was it more than a kitchen re-fit? Was it offshore? When you started did you have the money to pay for it?

I think management have done an extraordinary job here on a shoestring (until farmout). Teething problems in any engineering or construction project are to be expected. Multiply that principle by 100 cos its offshore.

Perhaps you would all be happier with a deposit account?

....1 code just in....

RNS tomorrow.

;)

https://twitter.com/edgartwo2/status/1512449197164924934?s=21&t=2y0iD3rlXodbETWOrwAJbQ

Rofl Tanzania, I am well and still not wise.

Enjoying reading on twitter (in particular) when others discover AEX and start debating how good the profile/story now is. The herd is definitely arriving.

No Haggis. The only context is that you were replying to me. The record is there to be seen below. No talk of rainy seasons or anything else. The issue was delay in spud or not. I cannot stand people re-inventing facts to suit themselves, which is what you attempted this morning by claiming you foresaw a delay when in fa t you were saying there would be no delay.

Last message from me on the subject.

""Why would you think of a delay in the spud?

We already worked out that APT would analyse the target CH-1 data as soon as it arrives, and that by doing so they can easily get the spud done on time."

No misunderstanding of the above on my part.

Actually, Haggis, IIRC you said there would be no delay to CH1. Vehemently. And you cited discussion on this board as though that was evidence of anything.

Delay to spud much less than I feared.

Nyuni relinquished not a surprise bit might be a blow to the market?

KN1 need to re-read but we are getting free seismic? Pleased no expenditure there at this stage. Complicated compartmentalised geology and money is tight.

Half revenue deferred. The other half coming it at approx £0.5m per day net to IOG?

I agree that delay in drilling and plans is what explains the need to fund raise now rather than slightly later with a higher share price.

Hasn't stopped me topping up. But I will now be (pleasantly) surprised if CH1 is spudded this year.

But who knows. If it is safe to speculate I could equally speculate that the 3d seismic is fast tracking the next 8 wells and there is a much bigger drill programme about to be announced (with possible associated delay tp]o CH1).

The timing issues don't matter to me. I have always been here for the enormous assets. But I think some more delay is the reality.