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Humberside traffic police have just impounded the rig, which was sat in a layby near Tickton. VOSA to arrange it to be moved for a full inspection, Wednesday earliest. This is good news if you're a 'Gold Standards' enthusiast. Not so good news if you're innit thinking you can make a quick buck from nothing.
Aye, nail = head.
There's only two types of cash in the world: silly money and smart money. You've just described one of 'em. Grab and dump is just about the only way to make with UK onshore olies these days, look at the balance sheets, cash flow and debt. Most PI's can't read balance sheets, only whats fed to them on power point presentations. IGas is a wonderful example, there was great money to be made during its chaos.
"Bit like a fart that nobody notices, does no harm, no need to announce it."
Yeah, it's called 'silent but violent'
Cut yer losses and get out while you can.
Blimey. going back down to 70p today,. Hope the shrewd ones managed to sell up in the 90's 'cos that's the last this SP will see of that.
Other than the AGM? No. IGas like to surprise its investors with (you've guessed it) surprise announcements. Although, let's face it, they're not really suprises at all. "Mmm...no surprises here" etc etc..
Just because a co. gets bailed out by a sugar daddy doesn't mean that the chronic cash flow problem that caused the debt has been sorted. This holding is struggling to stay above 50p. It looks like another-car-crash-in-slow-motion.
Just ignore SiK. It's no coincidence that the post coincided with Canaccord's ridiculous uprating from 11p to two quid. On that announcement the price immediately dipped. The market seems to think that Canaccord suffer from what's known as the anti-midas touch. All the gold they touch turns to s**t. What a joke.
It's a bit ponzish to state that investors need to be "patient" knowing that IG shareholders have lost their investment don't you think? I'd understand your statement if the SP had stalled at 50 or 40p. But the price sank to the bottom and turned to dust.
This is old (two months ago) news. Reuters reported on it with a quote from BHP's CEO: "If you had to turn the clock back, and if we knew what we knew today, we wouldn't do it, of course we wouldn't do it, but go back and put yourself in our position at that time" http://uk.reuters.com/article/us-bhp-shale-idUKKBN19K1UZ Fair to say that shale in the UK is going the same way for investors. Hence the very wary Barclays statement at the last AGM.
Agree, I think most rational ppl realised the looming catastrophe on their holdings towards the back end of last year. A few, earlier. Cashflow is king and all that. Sensible to cut your losses and sell up as soon as it's apparent that the cashflow won't fill that black hole.
As soon as the SP hit under 4p the new owners did a share dilution to claw back some equity from the (very generous) shareholders. The ordinary 10p shares were automatically exchanged for 0.00002p shares at a ratio of 200 for 1. This was to be expected after the bondholder deal.
"And Gillingham will be in the Premiership by 2022" Lol! #Hope
Looks like the Tory price cap policy hasn't gone down well with the makers. Oh dear. Back to 4.5p. Igas is now an excellent short. No long term prospects to show.