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Has the penny dropped that IGas ARE profitable? SP on the turn?
RNS Facts not Fiction... Six Months to June 17 Profit after tax £8m (previous to June 16 £25m loss). Net Debt £7m (previous to June 16 £ 83m) Great turn around given restructuring only happened April 17. As penny drops that IGas are profitable and have huge upside share price will fly.
JDM33 - 100% Right - Facts Not Fiction - Shorters Going to get Burned!
UKOG Mkt Cap £286m - Significant Weald Basin Discovery... IGas "50% of our current production is generated from the Weald Basin".... https://www.igasplc.com/our-operations/where-we-operate/southern-england ......Ft.com 03/07/17 IGas "$55m of fresh capital and cut borrowings from $122m to just $7m through a debt-for-equity swap" ....IGas Mkt Cap £ 66m - IMO Undervalued and overlooked by the Market? DYOR
IMHO IGas time will come..... "Gas to become world's primary energy source by 2035" DNVGL •"Demand for oil will peak in 2022" • "stage is set for gas to become the largest single source of energy towards 2050, and the last of the fossil fuels to experience peak demand, which DNV GL expects will occur in 2035". https://www.dnvgl.com/news/gas-to-become-world-s-primary-energy-source-by-2035-99849
IGas past is history and so is $100 Oil....This is a Phoenix stock that is stirring from the ashes. Regenerated in the restructuring and profitable at $50 Dollar Oil. Imminent Gas flow tests & Drilling later in the year. DYOR
Uncertain stock market, uncertain world......U.K. ultimately needs secure home produced energy. Just had another IGas top up, a few others look to be doing the same. Good luck all :)
No pain no Gain, All the fundamentals are in place including negligible debt. Sentiment dented due to lack of news but IGas presumably happy and prudent to let Cuadrilla to do the trailblazing. SP could rise extremely quickly on positive news on unconventional Gas deposits (IGas or Cuadrilla) or additional confirmation of being cash positive on existing producing conventional Oil resources. DYOR
Cuadrilla Drilling - Times 18/08/17 "If successful, Britain’s first shale gas production could be supplying homes by the middle of next year"...... IGas - Times 03/07/17"The London-listed company has approval for exploratory wells at two sites in the East Midlands, in partnership with Total, the French oil and gas major, and Ineos, the privately owned UK petrochemicals group".......... IGas - 30/06/16 Using a deterministic method adopted by the British Geological Survey and including recently awarded 14th Round licences, D&M have estimated an IGas gross mean gas initially in place (GIIP) of 221 trillion cubic feet
'Very large potential' Cuadrilla's technical director Mark Lappin told the BBC: "We have noted the BGS estimates for gas-in-place and consider that volume to be indicative of a very large potential reserve. "It's the purpose of our current drilling operations to better understand the reserve, reduce speculation from all sides and decide if and how to develop it. "I expect Professor Underhill would be supportive of the effort to understand the resource including geological variation."
IGas Recap... proactiveinvestors.co.uk 26/04/17 Video... Kerogen investment of $35m they have "deep knowledge of the sector" "Balance sheet taken to a completely different place" "Cash generative at $35 a barrel including administrative expenses"...... Fool.co.uk 22/06/17 "forgotten growth stocks with massive potential"........ Ft.com 03/07/17 "$55m of fresh capital and cut borrowings from $122m to just $7m through a debt-for-equity swap"..... IMO Most IGas quoted financial information is out of date and does not reflect restructure, debt reduction and share consolidation.... (4.5p/90p at restructuring and consolidation..... 2.4bn shares in issue to c.120 million)...... Today @3.25p/65p and Mkt Cap £79m it's a steal. DYOR
IMO Lots of MM games to suppress the price sub 70p and fill orders, look at simultaneous automated sells. Plenty of demand from knowledgeable investors.
Some positive facts to balance the discussion..... 14 June 2017 IGas Annual General Meeting Trading Update Successful completion of balance sheet restructuring and fundraising in April 2017....... Experienced industry investor, Kerogen Capital, now a 28% shareholder following its $35 million equity investment..... Further $22 million raised in placing and open offer..... Net debt reduced from $122 million at 31 December 2016 to c.$8 million as at 31 May 2017...... Cash flow generative at current oil prices..... Shale appraisal and development plan covered by up to $230 million carried work programme..... IGas Financial Times July 3, 2017 Production costs have been cut “from the $40s per barrel to the $30s”..... IMO After the painful but necessary restructuring to adapt to a $50 dollar a barrel world. The $57m of New money, New Directors and New Chairman are positives going forward. Current Oil revenues will give the company working capital and interim profits allowing time for Gas reserves to be proved up. Also tucked away in the accounts is a useful "Ring fenced" corporation tax loss of £210m (31 December 
2016) ...... N.B. Planning approvals have been obtained for two Gas prospects and drills should be turning later this year. DYOR
IMO Something's about to happen MM's having trouble keeping this down. 0.01p between Buy and Sell. Very Low £15k volume DYOR
Courtesy of The Guardian Thursday 5 January 2017 11.06 GMT "The energy company Cuadrilla has started work on a controversial shale gas site in Lancashire that will later this year become the first well to be fracked in the UK since 2011" Chief executive of Cuadrilla, Francis Egan “It’s a resumption of operations,” he said. “It’s been a long break. So for us it’s good to be able to commence work on the ground. We know there’s a lot of gas in the ground and we hope to demonstrate that it can be made to flow out in commercially viable quantities.” Kerogen is invested in AJ Lewis which has a substantial holding in Cuadrilla. Kerogen has recently invested $35m in return for a 28 per cent stake in IGas. IMO a strategic investment DYOR
Reminder of recent news.... Financial Times IGas plans UK shale exploration after restructuring clears path UK group earmarks east Midlands sites for drilling as it examines case for fracking July 3, 2017 4:00 am by Andrew Ward, Energy Editor IGas, one of the UK’s largest onshore oil and gas producers, is aiming to start drilling for shale gas later this year after a financial restructuring that wiped out more than $100m of debt. The London-listed company has approval for exploratory wells at two sites in the East Midlands, in partnership with Total, the French oil and gas major, and Ineos, the privately owned UK petrochemicals group. Stephen Bowler, IGas chief executive, said a refinancing in March, in which the company raised $55m of fresh capital and cut borrowings from $122m to just $7m through a debt-for-equity swap, had cleared the way for drilling to start. IGas was aiming to commence work at Springs Road and Tinker Lane in Nottinghamshire in the fourth quarter while also seeking approval to drill at several sites in the north-west of England, Mr Bowler added, in an interview. The plans add to growing momentum behind efforts to bring US-style fracking to the UK as privately owned Cuadrilla and Third Energy press ahead with wells in Lancashire and Yorkshire, respectively. Unlike Cuadrilla and Third Energy, IGas does not yet have approval to start hydraulic fracturing — pumping water, sand and chemicals under the ground at high pressure to release gas from “tight” rock formations — but its planned wells are designed to take core samples, which it hopes will demonstrate the case for fracking. Mr Bowler said the coming months would be an important test for the nascent UK shale gas industry, as IGas and its rivals try to disprove sceptics who question whether the US shale boom can be replicated in a more densely populated country such as Britain. “A lot more technical work has been done in the UK before drilling than was done in the US. But we will still need tens of wells to be drilled before we will know [if UK shale gas is commercially viable],” Mr Bowler said. “Almost as important as whether the well flows [with gas] is doing it safely. We will have to do things more sympathetically than in the US.” As well as questions about the viability of fracking in the UK, IGas has faced doubts over its financial sustainability but Mr Bowler said these were now settled. “We’ve fundamentally changed the balance sheet and can rebuild from here,” he added. “It showed that we were here to stay.” The refinancing was led by Kerogen, an energy-focused private equity company which also has stakes in Cuadrilla and a promising North Sea explorer called Hurricane Energy. “Kerogen coming in changed the dynamics for us because their credibility and technical expertise gave confidence to others to back us,” said Mr Bowler. Hong Kong-based Keroge
Meta4 When was the last time you attended an AGM? I don't invest in something without research. Unless you have something to contribute other than an axe to grind - Bye! (Short, no point in metaphors)
IGas - Largest public UK shale company and operator of largest number of fields onshore UK. IMO a Buy after recent restructuring, equity raise and debt reduction to £8m (debt reduced by over £100m as part of the debt for equity swap). Recent News - IGas Aims To Start Drilling For Gas This Year - Financial Times https://www.google.co.uk/amp/s/amp.ft.com/content/86afb348-5d5f-11e7-9bc8-8055f264aa8b IMO last few days shares walked down so they can be bought back later in the day by well informed major investors. See buys and sells at 72 yesterday afternoon (millions also sold and bought 30/06/17) SP is a coiled spring that should Gap up soon. Unsupported Negative comments only designed to aid the Tree Shake I used yesterdays dip to top up so thanks. Good luck all.
Hi Mike, shares have been consolidated as part of recent restructuring (debt for equity) 1/20 or 4p = 80p IMO Now cash positive on existing producing assets at sub $50 oil. New investors and New Directors but same potential Has recent planning consent plus $230m free carry. Drilling about to start later in the year. IMO a good point to top up but as always Mike....DYOR
Answer to Frack Fake News - IGas has planning for conventional drilling and exploration to establish quantities and ease of extraction. Igas will make money Post-Restructuring and be profitable from existing conventional oil production. Gas from Fraking is icing on the cake and makes no difference when it comes out of the ground, but it will. A significant percentage of imported gas comes from Qatar which shares the gas field with Iran, how secure is that? I'm old enough to remember the 3 day week and blackouts during the last energy crisis. In the future one night without East Enders and the country will be protesting for UK sourced secure energy supplies. The share price is on the rise so no more fake news reports from masquerading Shorters DYOR