Member Info for PipeDragger

Serious money. Eventually market will realise that the current issues aren't preventing cash generation. (Even if price off gas drops again).

Train is back to the buffers it seems. Exploration drilling programme started in June but we don't know if they have even spudded into ground yet. Another month before a routine production update.

In the RNS I read that they expect to sell gas at 254p per therm in the current period and the operating cost is up to 20p per therm. That is a good margin.

Would be nice to know........

For the brave!

"4 low angle wells will be producing before this year ends". They will need to drill a well every 6 weeks or so to have these 4-off producing by end of year. Drilling started in June so should we not expect some progress announcement?

Urraca, not green levies (that is a different thing altogether). It is the price per kWh that green energy producers receive which is tied to gas. So those generators will be having a windfall just now.

Apparently the price of electricity from windmills is tied to gas price. Nobody seems to be calling for a windfall levy on the excessive profits of the green suppliers!

I pass through Paddington and Euston once a month and the stores seem to do a steady trade even in warm weather. This week deserted. It just seems odd that they have ice cream etc which should sell in this weather but they seem rather shy about it.

Standing in a London Railway station this morning, noted almost no-one buying. A few coffee sales. They apparently sell ice cream - only place inside Euston - but the notice is well hidden. Roll on winter!

Seems extraordinary the low market value of IOG. Cash flow must be amazing when you consider that it was all planned based on a gas sale price around 1/10th of where we are now. I hope this means the debt gets paid off faster and then we enjoy some dividend. I am going to hold and just see what happens. Happy Friday all.

One can dream of a pound ... but I think 65p once Southwark is on line would still be a great result. (36p seems low for now, given how the cash must be flowing).

What's not to like about these interims? Solid well-protected business with increasing dividend.

Alligator, such is the topsy turvy market just now, if gas was at 45p then share price would be over 100p by now!

Russia throttling supply to choke Europe. Long term this is just dumb strategy as no-one will want Russia gas and will import LNG instead. Short term the market price goes up and pain for consumers. Great IOG for IOG net cash flow
https://www.bbc.co.uk/news/world-europe-62300684

Simon Thompson at IC has been recommending TRIN since at least 2018 as a BUY. Doesn't seem to shift the needle on the SP. The lack of drill bit action until now hasn't helped.

Overseas expansion doesn't seem to be working out. The product is still great and doing okay in the UK (though can't imagine heatwave is helping this week)

TRIN have been carefully vague.

Nothing this year.

EDT Hercules is a multi purpose vessel. Don't know what it is doing but it will be subsea work. Probably with the ROVs. It is the sort of vessel that gets hired in for short periods of work. I wouldn't read any significance into that.