Member Info for marineclark

"Three water producing zones identified at Southwark. Production logging data from the Southwark A2 well has identified that water production is predominantly emanating from three of the six stimulated zones in the well. These zones will be isolated in the coming weeks and two of the remaining three gas zones will be re-stimulated to try and improve the flow rate of the well. On initial testing, the well produced at a maximum gas rate of just 4.2 mmcfd, some way adrift of our ~20 mmcfd expectation. Lessons learnt from the A2 well will help optimise the planned Southwark A1 well drilling and stimulation programme."

full quote from finncapp. Full article is on Finncapp, just need to register, but some more of article is below, dated 25 Jan 2023.

"IOG has identified the water producing zones in the Southwark A1 gas well and in the coming weeks will isolate these and re-perforate the well in an attempt to improve the low initial production rate. In the meantime, steady performance from Blythe and a healthy year-end cash balance should provide some encouragement, while a significant application in the ongoing UK 33rd licensing round could further reinforce the depth of IOG’s portfolio."

Scored, its true that there's no point getting excited until RNS comes out, but if one waited until then the multi-bagger opportunity would be missed. Trading/investing is highly risky, and one can easily lose one's life savings, so only recommended that people trade money that they can afford to lose only. Don't want people losing there life savings here. On the other hand, a gas producer in the north sea trading with a market cap of only 40 million with an enterprise value of only 125m, and with a forced seller in the likes of Lombard, these kind of opportunities don't happen often. But as mentioned, have some stake in here, and not betting on the house.

Without looking at the pictures, just thinking logically, if you removed the water, than surely the chance of increased gas is more likely. I'm no expert, but if I removed water from a tube that woudl free up more space for gas to flow. It doesnt take a genius to work that out, I'm sure. Like Io said, Im no expert though.

Im fact the picture on the right, in the twitter link, is the pretty much the same one you posted yesterday. Woudn't you know what filter you yourself used?

SPArmada, if you look at the larger flare, the right one, its round, not elongated as you would expect if the wind was blowing. And as you said that wind is the largest factor so humidity etc.. would not affect the size as much.

Assuming the pictures were taken on separate days, the right one being the very latest, it would seem that the larger flare is likely to be caused by more gas, assuiming of course that all the pictures are not faked.

Thanks SParmada, imagine knowing good news is coming before the the RNS. Feels a bit like insider trading, but the geo pictures is public data so its fair game. I regret not topping up more before close today. I hope I'll get the chance to first thing Monday.

With good news, the price should return to the gap price, of 16p then beyond.

SPArmada, that looks like a lot of gas coming out there:)

I feel like some chicken tonight...

https://www.youtube.com/watch?v=xnjcVvO40bg

https://uk.sports.yahoo.com/news/iog-lon-iog-might-makings-054156805.html

This one hasn't been an easy one to trade, unlike the last big drop down where it bounced back 75 percent in a day or two because of the RNS about new management. It was that bounce that made me take the trade at little too early this time expecting a repeat of before, but news has come out yet, but when it does Iam expecting a similar bouce back up. Unfortunately, as in life there are no guarantees, and if things go pear shaped it could dropped further - not sure how much of bad news is already priced in. It could be that even with bad news that it is already priced in and price doesnt drop any further, but you can be sure that if there is good news, this will 2/3 bag from current price if not in a few days definately over a few months.

Lombard are still selling probably, but why would a ii, and not the others, be selling so many shares in a aim small cap share when they know that every time they sell this causes the price to drop signficantly so that what the make selling drops more and more to the point where its barely worth sellling. That's why I think they are forced to sell for some reason like a current liability they have to pay off urgently, and are a forced seller. They still appear to have some shares left, so it may take a few more days till we hear the last of the. But on the flip side when is there an opportunity to load up on some very cheap shares. Of course, only trade money you can afford to lose. DYOR.

News imminient on Montara restart. The charts showed upside to 110p, a 30 percent upside to current price. That's is decent amount to play for, especaially as momentum will build as news is released in the next few weeks. This is the closest thing to free money you are going to get. We have a confirmed start date in a couple of weeks and price has not yet returned to the price before the issues at Montara halving production.

Charts is in a consolidation period, looks about to breakout, great time to take a position IMO. DYOR.

Lets not forgot to give thanks to Lombard who gifted many the chance to buy at the 7ps. It's great when the ii's is forced to sell at any price and presenting private investors with bargaqin basement prices. Don't care the reasons why Lombard had to sell, but I hope they sell the lot, I'will be topping up if they do.

PF-Builder, I don't even think it was an over reaction as much as Lombard needing to dispose of assests to keep the lights on at home. It does look like they have finished for now. I was too impatient to to buy earlier but the charts do look good today to take a punt as TMSreach puts it. At current price, if results are positive when news comes out, should see an easy doubling of the price, and if not, then maybe a little more downside, but the upside rewards is worth a punt.

Lombard are probably struggling to pay the rent or something so have to sell to keep afloat. I agree that once they've departed we should see a sharp rally. I remember seeing 50 percent drops for binary wildcat exploration wells, with all the cash gone into that drill, and after a duster, there is no cash left. Hardly the case with IOG, so it looks oversold to me. But thats my opinion. I did make 50 percent the last time I traded here, could have been 75 percent if I had sold a bit earlier. Good luck, and if its too risk for chill, buy it back when its dobule or treble the price, much safer.

Must admit got my timing wrong on this, having bought on the morning day of the big drop instead of the day after when it is safer. However, cant always get the perfect trade so no complaints. the price has now stopped falling so assuming you know all the risks now would be a good time to buy, assuming you know the rewards also. DYOR.

You have to be in it to win it...

Bought back in, I made 50 percent profit last time it dropped to this level. Still lot more wells to drill.

Apololgies, there is a range of support from 65p to 70p, and not a single level of support as is sometime this case. It has dipped below 70p a few times, but when it has it has bounced back to 70p very quickly, that's why I had 70p as a general level of support. I would be concerned in the short term if it kept on dropping tommorow, but for long term holders nowwould be a good opportunity to get more on the cheap.

Current price of 70p is a very strong support level where the price has returned to many times and not broken below. Zooming out, there is a descending triangle in play nearing its apex, meaning it wont be long before a breakout is due, and highly likely to be to the upside, because price dropped due to the halving of production which will return to full production soon. Should see price rocket when it does. Good time to buy now as price is at support, for at least a 50 percent upside. DYOR.

agreed Danger mouse, back to support again. Selling has stopped. I have added myself today. When full production is resumed which isnt that long of a wait, I mean it will be fixed eventually, then the price can only go up, I would speculate that the rise will be about 50 percent from current price i,e about 100p to 110p . Just topped and sit and wait for an easy christmas or new year present. DYOR.

would be suprised if we dont hit 18p today.