RE: Major upside29 Jun 2017 16:37
3 Years Ago Oil was at $100 a barrel
Today Oil is $45-47 and Igas has had to restructure to be profitable at this level.
14/06/17
LONDON (Alliance News) – "IGas Energy PLC on Wednesday revealed its net debt was substantially lower at the end of May, falling by an impressive 93% from the end of 2016 after the company restructured its balance sheet and completed a fundraising in April"
"drilling activity, and spudding is currently anticipated to commence in the fourth quarter of 2017"
IMO
The major New investors and Managment are not looking to the past, and concentrating on the future.
Igas should be cash positive with existing Oil production.
The Gas exploration is the upside and it's being paid for by others ($230m)
DYOR