Member Info for K3VMC

maqsood7

“ 10mil credit facility in place so no need to worry about cash raise also!!”

The insiders put up the £2.5m in bonds. No way will they dilute themselves after that.

All going great here.

I expect there will be profit taking by the recent buyers at 7p, but I’m holding for glory.

Of course, I should have sold over 16p, but I’ve managed to get 8.69p average now. 25-30p within 6-12 months is my target.

£15.1m H1 revenues. Up 57%.

I expected at least 50%, but it’s reassuring to see it reported in black and white.

Such a great business. Improve the working / studying environment, reduce energy spend and brag about how your organisation has fulfilled net zero commitments. All organised and implemented by experts.

Onwards and upwards!

Tonlin, I hope you are well and still holding up traffic on the A34!!

I shared your pain, but I think we will do very well here!

ATB

I missed my entry at 16.5p yesterday morning and was busy for the rest of the day. Lucky break.

More oil flowing and the trolls are out again. Same old, same old.

Increased everything, in the middle of the worst cost of living crisis in a generation, but the best part is increased market share.

Added this morning. I expect the directors will also.

7.295p

aligator

“ K3VMC, What stinks, as referenced by wolster69, is the probability that these problems had already manifested themselves around, on, or very shortly after the 22 December RNS, yet IOG took almost a month to report them. ”

From the 22 December RNS

“ Southwark A2 well test and clean-up planned for next week with first gas expected by mid-January”

If you disbelieve the most basic and obvious statements, why are you invested?

Take their statement as being truthful, plus subject to nomad scrutiny, then allow for Christmas and New Year, remember that it’s been gusting 60-70 mph offshore, PLUS they can’t just invent figures, but have to measure flow rates over time, then having the latest RNS two days ago is NOTHING like almost a month.

scoredagainsteps.

No disrespect taken and I understand frustration, for sure. The new guys have good reputations, which is why I bought after last months plunge. My average is only 8.8p but I have enough of them to feel the pain right now. Next time IOG gets to 16p, I’ll be cashing in half my holding.

I should say IF IOG gets to 16p, of course.

Woolster69

“ K3VMC - what stinks is that the well testing was done by end of Dec”

Where do you get that from? Certainly not from the RNS.

“ They have a track record for this which also stinks but many had hoped the new team would take a better approach to timely and open comms but clearly not. ”

I am content that they needed this time to clean up, test, troubleshoot and organise a potential recovery strategy. You obviously are not. I’m also happy with the level of detail in the RNS, you obviously are not. If you feel bitter and jaded with the new management, based on their first few weeks of performance, then I respect that view, even if I don’t share it.

“ The water issue sounds as though it is additional to poor flow from the RNS wording so that should be clarified too.”

That’s NOT what the RNS says.

“ If isolation is successful, updated well test results would be expected within the coming weeks which would provide a clearer assessment of the scope for the A2 well to produce gas at commercial rates”

“We don't want them to say water ingress is resolved but gas flow still only MAXIMUM of 4mmscfd and non commercial.”

I share that view, but that does NOT mean I expect it, otherwise I wouldn’t be invested, or posting.

Oil and gas always. Not for widows or orphans. If you don’t like the management or the assets, you can sell very easily. Lots of other stock for you yo choose from.

Aligator, something here stinks indeed, but it isn’t IOG.

"Having stimulated six discrete reservoir zones, a low gas rate and apparent formation water production at this stage of the A2 well clean-up is unexpected and disappointing. The production logging tool should provide important gas and liquid flow data to help us calibrate the forward plan, which is likely to be to isolate water producing zones in order to assist gas flow."

Clearly, water was unexpected. Clearly, the well had to be cleaned up before testing. Clearly, the testing took an amount of time, to evaluate what was happening and work out a strategy. Clearly, they are working through the required steps to prevent the water from inhibiting the flow of gas, which is clearly there.

Most investors will understand that these events can happen and when they happen, have to be dealt with professionally, systematically and safely. I don’t think any of that stinks.

“I grew up listening to radio and it’s one of the things I truly love,” says Dillon. “Podcasting is like radio. But it’s on the internet.” Joe Rogan notably has referenced Dillon as ‘the best podcaster Ranter.’

Except listeners can CHOOSE their content, so it’s WAY better than the radio.

Create interesting content, expand into new territories. Much more to come from BOOM.

Anyone selling at these levels, who expects to buy back lower, has not been watching the price action.

I added 300k, reduced my average to 4.31p. Not selling until 7-7.5p

But why would they not?

“ Following the scheduled monthly receipt of payments for gas sales, IOG's cash position is today in excess of £36 million, of which £5 million is restricted. The Company's internal modelling projects corporate cash flows in a range of risked scenarios, including lower production outturn versus forecast, longer than planned downtime and gas prices materially below the prevailing forward curve. In the current outlook based on these scenarios, no short-term incremental funding need is anticipated.”

Says it all. Enough cash to weather the storms. £36m in the bank, still selling gas, still with wells to drill and enough cash to drill them.

£40m mcap.

<< Shrug shoulders emoji >>

Last time we had unexpected bad news, directors bought 1m+ shares at about 10p.

That is a fact.

Whether or not they have done something similar this time, remains to be seen.

Trading update due.

dunderhead

“ As I say poorinvester - be prepared to lose everything as if this does not go too well - it will effectively become a "zombie" producer. ”

£36m in the bank. Production from Blythe and Elgood.

I expect director buying, like last time.

Stiggsy

“ Which is less than 0.5p more than us”

True. Times 1m = £5k. Nice.

poorinvestor

“ I am not saying they don't have one, they might, in 6 months or 5 years time. What i'm saying is the need a product that they can sell straight away for shareholders to make money here.”

So, the products they ship this month, are they just free gifts?

“ The joint development project with a household name wellness company progressed well during the later half of 2022, and the first of three batches of designed ingredients are being shipped in January 2023. Production of a second work package is due to commence imminently.”