Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Did anyone read the ‘blow to(IOG) mini bond holders’ in the Times last weekend?
Anything of note regarding LOG?
Kremlin-controlled Gazprom has informed French utility Engie that it is reducing gas deliveries from today ( 30th Aug) due to a disagreement on the application of some contracts.
That’s an incredible gas price jump over the weekend- good for gas investing, but terrible for the economy over all.
Amazing photo of the Noble Hans Deul over the Blyth Platform.
https://www.energyvoice.com/oilandgas/north-sea/438802/iog-results-h1-2022/
Wonder if that person at the foot of the stairs on the platform is a Kistos stooge with packets of salt strapped to his person………..
The wording in the RNS- ‘ Southwark A1 (West) well drilling resumed in early Q3 – progress hindered by fluid losses in Bunter Sandstone Formation but well plan continues to be executed.’, suggests to me that it was an issue now resolved? ‘Well plan continues to be implemented’ suggests business as usual. The BOD know that ‘cash is king’, the importance of bringing Southwell x2 on line during peak gas prices whilst salinity issues with Blyth/Elgood have reduced production, cannot be lost on them. Reduced output from Blyth/Elgood has hit the share price for six, but appears overdone given 3 months of heavily interrupted production generating the revenue it has. Increasing gas prices must at least produce £100million revenue (fag packet math!) with say £30 million profit. £40 million profit total for the year and that’s not including Southwark if it goes live October/ November. Ball drops and all, the Market Cap is still ridiculously low.
David- interested to hear your thoughts on the salinity issue and the wording of such in the RNS? How common is this type of issue in your experience?
Maybe….or the market is focusing on the salinity issue and the potential cost to fix?
Peak- I think I recall from the last GM mutterings that there would be no divi for a few years. Investment and debt repayments are high on the agenda, and given the phases of expansion yet to come, I feel this makes sense.
Mole- an RNS is due before the end of this quarter ( June), it’s possible they decided to add any update into that RNS.
I think a barrage of emails highlighting our discontent to investor relations would be better placed. They didn’t respond to my last one asking if any of the BOD were shape shifting lizards however. All eyes on the next AGM and the presence of UV lights and suspiciously hot meeting rooms.
We still don’t know the status of the second compressor being fixed yet. That would explain the poor share price today compared to IOG peers. Their lack of communication in my opinion is affecting the share price even in these uncertain times. The small purchase of shares by AH was the first step in building credibility, but this will be quickly undermined by either a lack of news or further delays.
Thanks Sailor- your posts are most valued. Wonder if the BOD would give you share options as you do more than their marketing team ;-)
According to an ops update last December- the timescale for starting drilling and producing was a 6month period. Given we started in mid April, they would put production at sometime between mid and late October. IF…..and it’s a big IF, the company manages to stick to their own timetable for once.
4.6millions shares traded today- of note was £500k buy of almost 1.9million shares……that’s bold. I wonder who was selling and will be see a TR-1
Hmmm- sabotage? Will be interesting if we hear the cause of the fire.
According to latest Kistos AGM statement, Kistos have just over 130million euro to spend on acquisitions….they could easily acquire LOG’s share….may also explain the share increase yesterday due to speculation. It would put AH under pressure if Kistos made this move under the table with LOG, especially given the way RRE offer was rebuffed. Could make for an interesting summer of acquisitions.
Hmm….. *rubs chin*- makes you wonder if he reads this board. Bit of a coincidence that he drops £21k to finally purchase some shares. It’s good to finally see it, but it’s a little late to the party. So if the rest of the BOD step up, could we see confidence start to build?If Fiona cashs in her 1000’s of Echo shares she could buy….hmm, maybe £20 worth of IOG. Come on Fiona…..spank those moths out of your handbag and start spending.
Thanks Sailor- always appreciated
On the contrary. I’ve been invested long before the LOG debacle and have witnessed the poor management decisions long enough to stand up and call for AH to resign. Regardless of whether an investor is under water or not, it does not detract from a BOD who indulge in poor performance and fail repeatedly to inform the market of events well past their occurrence. How many RNS have we read with the word ‘frustrating’ in it. I’d been inclined to believe it if he or the BOD had actively invested their own money in the business, but nope. Too busy collecting options and involvement with other companies eg Chariot. Can you explain why AH and the BOD deserve credit to remain? Why don’t you ask any Echo holder what they think of another esteemed member of the board ( Fiona McAuley)!!! If she leaves IOG suddenly, then I’ll sell everything because from what I’ve seen, she knows when to jump ship!
As a (perceived) share holder, do you not feel the management should be held accountable? At what point do you feel he should be asked to step aside? This BB is for expressing views and opinions, it would only be fair if you put forward an opposing view derived from the facts available. For the share price to be 3-4p above the last takeover offer is abysmal, especially given that was before the production of gas. The share price is a firm judgement on the management- and it’s not good.