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Well stupid situation to be in when they've got so much easily accessible coal.

"The private sector operators mainly use furnace oil and diesel to generate electricity while natural gas is used in some plants. Of these, 4,700 MW is generated by using furnace oil."

Could they find a dearer option than the above?

Well there are red flags. We've gone from..

"We're on track to achieve our goal of lifting gold output to 24Ktpa by year end and look forward to reporting on continued progress. 2022 looks to be a game changing year not only at Kilimapesa but also for realising our East African gold ambitions more broadly."

in July to suspension in Nov. Hardly the gamechanging year we invested in for so far.

Fair comment too imo. Think these will actually go ahead now from recent newsflow so have tucked a few away for better days.

Surprised they're not back already myself. Didn't the ceo state in the recent podcast that it was just one query that came up at the 11th hour that they had to answer to get it done?

If you read the last update he dropped the claim they were going to get the €850k in a couple of weeks in favour of making "material progress" on their domestic arbitration process ahead of the year end.
Seems to me the €850k payment was never on as he must of known he was in toothless arbitration at the time of RNSing.
All he's actually done re payments is increase the level of jam tomorrow by increasing the elusive short term prize to €4M.

Seems it is a technique to strengthen the well bore as they've said in the RNS, this seems to agree its a recognized practice and all is good so far..

"Introduction
The effects of drilling fluids loss and mud plastering have been studied in recent years, especially with the increase in wellbore stability issues and lost circulation challenges in complex reservoirs. During drilling fluids invasion, bottomhole pressure forces fluid particles to penetrate the near wellbore fractures and pore throats, and these particles can accumulate to form a rigid filter cake (Farahani et al., 2014, Civan, 2007). This is often referred to as mud cake wellbore strengthening or wellbore stabilization. In simple terms, wellbore strengthening can be described as a variety of approach that gives room for drilling a wellbore or an interval of interest with an increased fracturing pressure. Recent studies have revealed that wellbore strengthening can be achieved through mechanisms such as fracture opening and closure, as well as, mud cake plastering (Dorman et al., 2015, Contreras et al., 2014, Guo et al., 2014, Nwaoji et al., 2013, Salehi and Nygaard, 2011). Irrespective of the mechanism, the primary goal is to increase the fracture gradient in operational mud window, especially when drilling through a depleted reservoir."
https://www.sciencedirect.com/science/article/abs/pii/S1875510017304948

Didn't they have to update (with what they knew so far) so they could issue the shares this a.m?

Appears funds have bought 3.62%. Am I reading it right?
https://www.investegate.co.uk/igas-energy-plc--igas-/rns/holding-s--in-company/202211011742489848E/

Stop giving them media time would be a good start.
Said before that all the demonstrations against lockdowns and vaccine mandates got no coverage. Half a dozen loons with some orange paint and the media's there a head of time ready for the photo shoots meanwhile any honest scientist who stands up and says it the sun stupid gets fired and his next job is asking do you want fries with that.

Analysts at Canaccord Genuity lowered their target price on exploration and production firm iGas Energy from 100.0p to 85.0p on Monday after the UK government reinstated its moratorium on shale gas fracking.
Canaccord Genuity said the PM's announcement in the Commons that the government had experienced a "change of heart" regarding fracking for shale gas, which was quickly followed by a written ministerial statement confirming the decision, had "extremely disappointed" the group.

"While the door to re-open the possibility of fracking is always open, at least notionally, it is clear that there is currently no political will to allow it. To all intents and purposes, UK shale gas is now off the agenda," said Canaccord.

The Canadian bank stated that next steps for iGas "appear to be very limited". However, iGas indicates that it reserves the right to pursue legal processes to recover losses incurred and the analysts highlighted that it was "clearly too soon" to know if or how, and with which other companies, that might be undertaken.

"The combination of very high UK and European gas prices, the possibility of a change of government approach as a result of the conservative party leadership election, and the government U-turns on the matter have resulted in a very volatile market response to iGas. The stock is now back at levels before the recent "shale-mania" took hold, and we believed then, and still do, that the stock was too heavily discounted relative to its peers," said the analysts.

"For now, we remove our small highly risked assessment of iGas' shale gas potential resource from our valuation (15.0p). As a result, we reduce our target price to 85.0p (from 100.0p) and we maintain our 'buy' rating."

Reporting by Iain Gilbert at Sharecast.com
https://www.sharecast.com/news/broker-recommendations/canaccord-genuity-lowers-target-price-on-igas-following-pms-fracking-moratorium--11189462.html

In a logical world yes but in one where energy policy is decided by those with the most paint?

These must be tough times for real scientists. So many papers came out over the recent years questioning the IPCC claims that the sun has had next to no effect, nor clouds,nor our accelerating poles and related drop in our magnetic shields or anything really except manmade CO2.
Just one of the many here..
https://iopscience.iop.org/article/10.1088/1674-4527/21/6/131#raa_21_6_131s6
The authors can't believe that its being claimed the science is settled or that their peers are using the questionable models that the IPPC demand with the lack of solar input so they can blame CO2.
They even discuss scientists losing their positions and science magazines being discontinued because the "wrong" paper had been put in it. No sceptics allowed.
Can see why after reading these that the global warming aficionados using children and non experts to make their case.
Sad case of affairs imo.

Didn't expect The Sun to go pro fracking but this looks quite balanced and positive imo.

THE SUN SAYS Rishi Sunak should think hard about incentivising communities to welcome fracking sites
The Sun
22:06, 27 Oct 2022Updated: 22:06, 27 Oct 2022
RISHI Sunak’s decision to reimpose the fracking ban is an own-goal.
Why block a potentially vast source of UK-produced gas in an economic crisis brought about by a dire shortage of it?....
https://www.thesun.co.uk/news/20247977/rishi-sunak-fracking-communities-fracking/

Thanks for the link jppj, they're good strong statements too.
I do think the below indicates they'll go the ECR route which is the best imho as that's the way to sue for lost future profits as well as for cash already invested.
This could involve really big silly no's looking forward to developments here.
One prediction I'm sure of already. Just stop oil is going to be "rather annoyed" at the sums involved.

“IGas, its partners, and investors have invested significant sums in the development of shale gas both before the 2019 moratorium and again during this political debacle,” Hopkinson said. “On both occasions, these investments were made in the belief that we were unlocking a strategically important resource and providing energy security for the UK."

“In light of the government's totally unwarranted U-turn and, in the interest of our shareholders, we reserve the right to pursue any legal process available to us to recover the losses that we have incurred."

No the law comes first and it has to be equitable to all.
Think about what we as a country have done to them.
We invited them to bid for the licences which they did in good faith. We let them invest millions then arbitrarily changed our minds and declared they should carry all the losses for our change of policy.
If acting in good faith we should already have reimbursed them for their investment but we haven't so deserve this imho.

Excellent news imo. Sounds like IGAS are mulling suing the UK for its investments in shale.
How much have they invested and how much were future revenues expected to be for shale as they can sue for the latter under the ECT which could be huge for IGAS.

Seems a fair bit of anger on twitter etc over these orange loons. Could they be deliberately going OTT in order to get petro activists hated?

Definitely a chance for him to impress with his knowledge and expertise.

Approve of geothermal as a heat source but it does help show up the hypocrisy of the unlearned greenies.
https://www.cornwalllive.com/news/cornwall-news/geothermal-testing-restarts-eden-project-6812277

£1 a share for the conventionals sounds pretty good .