Member Info for Phippsy

Opinion will vary on this. Why sell more of our gas now when gas prices always rise in autumn and winter say the optimist/long term holders, alternately a flow rate above 40 would be preferred by the pessimist /short termers.

Not clear if the flow is being limited to 32 while gas prices are low, can supplement with H1 additional flow when gas prices have risen.

It's all about the gas price and farm in now.

Waiting for a day when the gas price goes up, if SP still drops will have to seriously consider my position, if SP goes up as well i'll hold until later in the year and may even add.

Just need a day when gas goes up now.

Alligator - Part of the drop will be due to the sector weighting applied by the market, in this instance as gas prices are falling most or all of the gas producers will be falling, this happens in all sectors, e.g. housebuilding where one company reports a good set of results and the SP of all housebuilders rises. You may have noted on some rare occasions that the IOG share price does not drop even though there are plenty of seel, this happens when the gas price is going up. Apologies if this is not clear but my fingers getting tired so have kept it brief.

Has just ticked up a tiny amount. No matter the details the gas price will set the SP as if it falls the financials don't work, but if it goes up the financials look achievable even allowing for drilling costs.

Don't bother with your own research, just come on here and badmouth others.

Are we allowed to do calculations on the back of a vape cartridge in this modern age ?

Thanks for reply, so any new drilling is Phase2 , so no 20% premium and CalE cash injection of up to 60 million , approx and drilling cost very tax efficient.

Just need a farm in partner for Phase 2 and things look a lot better, also the condensate revenue, though not massive , helps a bit.

What marks the end of Phase 1 ?

Price went down 8% today after going up on Friday

I don't think there is a reason for IOG to repay the bond unless the bondholders demand it, but why would they ? It's yielding 13% and as long as IOG are able to service the debt cost the bondholders should be happy (as recently shown by their willingness to extend the the due payment) If I were a bondholder I wouldn't risk killing the goose laying the golden eggs.

So if the bond isn't the issue what is ? It's future revenue of course and that relies on IOG bolstering it's cash position which is exactly what it's doing, it can than drill another well. If gas prices rise significantly it helps obviously but the calculations by others on this board show clearly we should be able to easily cover the cost of drilling a well if we are not repaying the bond in full. As an aside have IOG ever been in a position to pay the bond off in full ?

In my little time (3years) owning this share there are a couple of things I have noted.

1. If there is no news the SP drifts down

2. It usually falls in the morning and more often than not recovers in the afternoon

So the patters seems to be , if good news SP up then trends down, if bad news SP goes down then drifts down, lastly if there is no news SP drifts down.

So all of our hopes rely on regular positive news , fortunately it looks like the foreseeable future should hold several bits of good news e.g. gas price rising, gas flow rate rising, new licences granted, increasing cash balance, have I missed anything?

Upward and onward

There are several reasons why rate rises are not as effective as they used to be.

1. The average age of the population is higher so there are more pensioners, they are less likely to be still paying a mortgage.

2. Pensioners who are paying mortgages have seen a 10% increase in state pension this year that will offset some of the cost

3. There are more people on benefits , they are unlikely to have large mortgages (if they have one at all) also their benefits went up 10% this year so that offsets the cost somewhat.

4. The amount of money given out during the global plague has inflated people's savings accounts and banks report this is now being used to pay down the outstanding mortgage balance when coming out of a fixed term arrangement so payments for some stay about the same for some.

So two large (and growing) cohorts of society in benefit recipients and pensioners are cushioned from interes rates and government handouts are minimising the impact for many more.

It's a different economic approach suitable to modern circumstances that is needed , the BOE is slavishly following the old school approach .

Are presumably to explain the history between Iog and Log , could readers note the dates within the info, this is not new information.

We seem to use mid to mean differing things, midnight and midday are specific non variable times, but no one would expect midyear to be exactly halfway through the year. The nuances of the English language are a joy aren't they.

Got to be the official cracking open the tap Ceremonials surely ?

This has fallen a further 5% in the last 20 minutes!!!!!

The last trade to come through was a buy but it's been recorded as a sell, it may be the 2 trades prior to it at a similar price may also be buys. Buys available at 15.06.

Oil and gas prices drifting down, Oil and gas share prices drift down simples!

Not sure why Jamrock has posted this but in response, what about all the other NHS staff that worked through the pandemic ? Should they not get a higher pay rise, in fact all key workers would qualify for a higher pay rise using Jamrocks argument. I would be happy with that if they agree to reducing their pay when we go into recession, other than that we simply can not afford to fund this. Also should we risk the integrity of the NHS by paying selected staff within it at a higher rate than others who do work of equal merit ?

It is a delay after all so a knee jerk reaction this morning is to be expected, could well close up at the end of day as the more savvy buyers pick up stock later.

Best wishes for the festive season to all, yes even you L3 !.