Member Info for pawnsacrifice

Saw the Ellesmere update this morning and thought it quite big news that the minister was to take over the decision for Ellesmere himself and the statement of "national importance" overshadowing "local issues" rather positive?
Was it expected given the RNS seems to have been such a non event with investors?

"The Ellesmere Port appeal that was going to be determined by a Government appointed Planning Inspector has now been called in by the Secretary of State to determine himself.

The reason for this direction is "that the appeal involves proposals for exploring and developing shale gas which amount to proposals for development of major importance having more than local significance. The Government has made clear in the WMS of May 2018 that it would consider carefully recovering appeals of this nature."
hTTps://www.investegate.co.uk/igas-energy-plc--igas-/rns/ellesmere-port-appeal-update/201906280700057406D/

Good that they got their results out in time. I did wonder if they'd choose suspension instead but this statement...

"The Company is in receipt of several offers of capital finance, which it is considering, and the Company is consulting with its major shareholders. Nevertheless, we accept that, at the date of this report, there is an issue in respect of going concern, which is acknowledged in the financial statements."

Sounds like negotiations with Gem or another equity based lender has begun.
Hope not for holders but who else would back them financially.
Think myself the best hope is holders hope it tanks then they can get together, buy the co. and run it themselves.

Yes they'll be generating just over £10 million a year with given figures. Quite impressive imo.

Heck of a no. and its only the initial assessment. They could be making a packet out of this mine for quite a few years to come with those figures.

They've been sold down to this level due to the perceived risk jose.
If the risk is too great for you don't buy as you won't have the strength to hold (imho).
As to this recent insti selling- they're no more likely to have an inside track than pi's and often sell at the bottom so make of it what you will.

LEK's always had haters in the African press but to my knowledge they're no longer in the legal dispute are they? Thought it had been dropped for the greater good?

Wouldn't be surprised if they were 5p end of day the way they're jumping up/down and in and out of auction.
If this is the overhang clearing its well possible

SP jumping all over the place and in and out of auction so maybe a sign of bottoming.
Been quite bearish on these for some time but can't deny the upgrade today so locked a few away.

Sounds like no need for a raise in no topside work to do and cheap drilling positive also. not so sure on this no drilling til October?
Do they know its only June?

Markets no idea whats going on and is expecting a placing before anything does happen (well apart from the bulls who believe 10 pound notes are about to fly out of Seftons butt)
Not really much reason to buy in that scenario which just leaves sellers.

$10,600 BTC.
Share price may have been slow to pick up on it but profits must be going through the roof by now!

Hope so as they appear to be fairly good at it.

Been a long time since an ops update. Too long for your standard AIm investor (as evidenced by the sp)
Will likely stay under pressure til they update now. Trend is in.
Pauls been heard singing in the office apparently.
Think we all know the tune...

The investing class can kiss my ars we've got the insti's in at last...

Doesn't take big words to be clever sardy you just have to call the stock right which we bears have consistently done here.
Hope you're right one day sardy and this does recover but not holding my breath,
Placing Ahoy. lol

At under 7p to buy sardy I think its blindingly obvious that no one believes your delusional hype anymore.
Never mind perhaps a few long posts about pipelines will help.

Thats terrible advice Drewsky.
Listen to the oil rags here not the driver as the oil rags have been consistently correct on every placing so far.
I know I argued against the first one just as the bulls are now and was wrong.
Haven't been wrong once since turning bearish.

What do you mean there were no other production plans? lol Take it you're a newbie if you've no recollection of all the early production plans that have gone out the window already.
400BPD from 102 anyone?

On commencing drilling of TLP-103, TLP-101, which was producing around 30 bopd at the time, was taken offline due to the proximity of the flare to the drilling apparatus. The Company has now upgraded and relocated the flare to enable production from TLP-101 to continue during drilling. TLP-101 has been brought back into production and has now produced an average of 55 bopd during a two week test period.



During the downtime, the Company engaged a specialist reservoir engineering company to conduct a full review of wells TLP-101 and TLP-102 which followed on from the stimulation exercise performed on well TLP-102, successfully conducted earlier in 2018. The results of these studies have shown connectivity between the two wells. Due to this connectivity the reservoir engineering company has recommended using TLP-102 as a water injector to enhance production from TLP-101.



Studies of this strategy by both the Company and the specialist reservoir engineering company predict that using a water injection system could lead to a rise in production from TLP-101 to up to 400 bopd. The Company is now obtaining estimates for the cost of this work and assessing the commercial viability of this project.

Do you remember when they were definitely going to use Schlumbergers kit. They gave us a time for it to enter the country then too.
Didn't happen just got swept under the carpet like all the previous plans.
Why should this one be any different?

Shuld be expected I suppose. Some confusion with forward plans and the only thing the market agrees on is theres a placing coming.
Is there any reason to but at the mo?

The pacing rumours would be one reason spike, They have been right about AAOG before but at the ed of the day the RNS was only announcing they'd had an analysis commissioned on two reports they'd already received which stated there was some confusion in the original reports of what exactly is down there but that more exploration was warranted.
Kudos to them for getting it out on time though gave chance to sell the spike and wait for after the AGM and/or placing news so they can finally move forward.