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So, they sold 25 million shares yesterday reducing their stake by around 30% , quite a statement to IOG but not sure how they will interpret it or what action they can take quickly for IOG to muster any credibility at all. At the moment IOG management looks like a joke and personnel changes don’t appear to have helped allay old ways. Very disappointed
London and the South East could be heated by hydrogen
Greenhouse gas emissions dramatically reduced
Potential jobs boost from £500 million project
Low carbon hydrogen could heat up to 20 million homes and businesses across London and the South East of England for decades to come, according to a new industry report.
The Bacton Energy Hub (BEH), a Carbon Capture and Storage (CCS) hydrogen project, located on the coast of Norfolk, could not only help to secure the UK’s energy supply but also play a major role in significantly reducing greenhouse gas emissions.
Currently the National Transmission System (NTS), supplying gas to homes and businesses in London and the South East of England, consists largely of methane. However, it is possible that by 2030 hydrogen produced at Bacton could be blended into the NTS, helping the transition to net zero while ensuring energy security.
Blending 20% hydrogen into the NTS creates the potential to abate 1.6 million tonnes per annum (MTpa) of CO2 by 2030, rising to 17MTpa by 2050.
Would be great if KISTOS could be proactively in this from the get go.
London and the South East could be heated by hydrogen
Greenhouse gas emissions dramatically reduced
Potential jobs boost from £500 million project
Low carbon hydrogen could heat up to 20 million homes and businesses across London and the South East of England for decades to come, according to a new industry report.
The Bacton Energy Hub (BEH), a Carbon Capture and Storage (CCS) hydrogen project, located on the coast of Norfolk, could not only help to secure the UK’s energy supply but also play a major role in significantly reducing greenhouse gas emissions.
Currently the National Transmission System (NTS), supplying gas to homes and businesses in London and the South East of England, consists largely of methane. However, it is possible that by 2030 hydrogen produced at Bacton could be blended into the NTS, helping the transition to net zero while ensuring energy security.
Blending 20% hydrogen into the NTS creates the potential to abate 1.6 million tonnes per annum (MTpa) of CO2 by 2030, rising to 17MTpa by 2050.
Would be great if the likes of IOG could be proactively involved in this.
The Anchois project continues to make progress towards FID in early 2023. • Société Générale is continuing to lead the structuring and syndication of the debt funding for Anchois. We understand that the banking syndicate is likely to include Moroccan banks and that debt could represent 70% of the overall cost of the project to first gas. • Discussions on gas offtake are understood to be progressing very well with potentially half of the volumes to be sold domestically and the balance exported...
Another very disappointing RND update. How many more?!?!
You can’t make this stuff up, inbelievable!
Identity and percentage holding of significant shareholders
Director's Shareholdings and those above 3% as per latest available information
Name Holding % interest
1 LONDON OIL AND GAS LIMITED (IN ADMINISTRATION) 141,388,669 26.98%
2 LOMBARD ODIER ASSET MANAGEMENT (EUROPE) LIMITED 89,159,277 17.01%
3 PREMIER MITON GROUP PLC 55,136,037 10.52%
4 CHELVERTON ASSET MANAGEMENT 25,325,000 4.83%
5 STONEHAGE FLEMING 17,400,000 3.32%
6 RICHARD GRIFFITHS AND CONTROLLED UNDERTAKINGS 17,087,060 3.26%
7 Remainder 178,630,417 34.08%
Total 524,126,460 100.00%
New corporate presentation added to IOG website today;
https://www.iog.co.uk/investors/results-reports-and-presentations/#currentPage=1
This page was updated on 20 April 2022
Identity and percentage holding of significant shareholders
Director's Shareholdings and those above 3% as per latest available information
Name Holding % interest
1 LONDON OIL AND GAS LIMITED (IN ADMINISTRATION) 141,388,669 26.99%
2 LOMBARD ODIER ASSET MANAGEMENT (EUROPE) LIMITED 88,344,277 16.86%
3 PREMIER MITON GROUP PLC 55,136,037 10.53%
4 RICHARD GRIFFITHS AND CONTROLLED UNDERTAKINGS 23,135,494 4.42%
5 CHELVERTON ASSET MANAGEMENT 25,000,000 4.77%
6 STONEHAGE FLEMING 18,500,000 3.53%
7 Remainder 172,349,716 32.90%
Total 523,844,193 100.00%
would they not have to put an RNS out today, before the meeting, as, presumably they shouldn't discuss/disclose info outside of the reporting framework?
would have expected an update 1st thing today or at close of business - perhaps they'll release something at 6.00pm so they can discuss? have given up trying to fathom how they decide what/how/when to update!!
Hi all, is anyone able to (broadly) advise the timescale for the CPR to be released? I know I've seen it in the comments but, as the board has been so active, i haven't been easily able to find it - thanks in advance!
I agree, would much rather they reduce holding in this manner than sell huge numbers in one go.
Best, Neil
The large share holdings are going to have an impact on the SP for some time to come. Am looking forward to a time when either IOG start buybacks or the size of major holders reduces over time.
GLA, Neil
LOG reduced holding, reported on TR1
SP May stabilise a bit now if no more selling but only time will tell.
Best wishes all!
4 April 2022
IOG plc
Operational Update
IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and infrastructure operator focused on high return projects, provides a further Phase 1 update.
The Company and its offshore Duty Holder ODE Asset Management (ODEAM) have continued to investigate the previously announced chemical injection fault on the Blythe platform which necessitated the Blythe well to be temporarily shut in. On further inspection, additional process and safety studies and procurement of materials are required before implementing the solution. These workstreams are being pursued as rapidly as possible to expedite safe reopening of the Blythe well. The Company will provide further updates as appropriate.
The fault is a mechanical issue on the Blythe topsides and does not relate to the Blythe reservoir. Moreover, it has not impacted the ability to maintain Elgood production which continues in the meantime.
At Southwark, following a successful exercise to remediate the seabed conditions, development drilling remains expected to resume by mid-April as previously stated.
Andrew Hockey, CEO of IOG, commented:
"We are working urgently to resolve this very frustrating platform mechanical issue which has shut in the Blythe well. Importantly, this is not a reservoir related issue and Elgood production continues in the meantime within a very strong gas market. We will release further updates as we clarify the timing of Blythe resumption."
1 LONDON OIL AND GAS LIMITED (IN ADMINISTRATION) 144,538,669 27.59%
2 LOMBARD ODIER ASSET MANAGEMENT (EUROPE) LIMITED 88,344,277 16.86%
3 PREMIER MITON GROUP PLC 55,136,037 10.53%
4 RICHARD GRIFFITHS AND CONTROLLED UNDERTAKINGS 23,135,494 4.42%
5 CHELVERTON ASSET MANAGEMENT 25,000,000 4.77%
6 STONEHAGE FLEMING 18,500,000 3.53%
7 Remainder 169,199,716 32.30%
Total 523,844,193 100.00%
600thieves. I like your figure much better!
Finncap have updated their target price to 66p per share , looking good!
GLA
Extract from FT report online;
IOG said on Monday that if the Gazprom subsidiary were to become subject to further sanctions, it “would expect to sell this gas to another UK offtaker”. The company added that it already had a separate sales contract with BP’s gas marketing business governing its share of production from Blythe, another field shortly due to start production. FT report today;
GGIS - I share your view about the SP rerate. Whilst there is a certain amount of detail known about the amount of reserves there are variable that will affect output levels such as the flow rate. The other unknown is what/how much gas will be sold to the 2 gas takers and at what price - so, once we are in production and there are some more solid figures out then the share price should rerate.
Fingers crossed for a positive RNS to confirm actual production in the near future - been here for 5+ years so will be nice to reap the (long-awaited) reward!
Best of Luck all!