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Yes, great post Alligator, it has been a hard slog these past months and doubts can creep in but the LTH on this BB have stuck together and repelled the trolls with all the facts that this is a success story in the making. GLA
I would imagine Bluewater are contracted on a lump sum basis until FOIL then the day rate will kick in , on this basis all costs at this present time will be to Bluewater account and will be eroding their profit margin on the lump sum.
I am confidently awaiting FID green light and confirmation on Harvey drilling , hopefully they can spud Colter in the coming days so we can get it over to Harvey asap
A nice after hours buy at 23p , I feel we are building momentum with lots of updates due, Ghana diamond drilling underway so maiden resource in the not too distant future , emphasis on maiden given the ever growing target areas identified.
GG
Good to hear from you , best wishes to you and your family , it certainly put things into perspective, keep positive and keep in touch when you can
Hi 600T, yes totally agree with End April for results as my calcs were for Harvey spud , will expect news prior to spud that all is well with Harvey and we proceed with the drill, we should get a SP rise on a positive statement , GLA and hope all is well with GG
Apologies should read End Feb to Mid March the voyage duration so End of March still feasible
600T
45 days duration for Colter well in documentation I have reviewed , this will include contingency so could be End March to Mid April completion then factor in voyage from Colter to Harvey.
Nice to see a bit of sp momentum , when do we expect to get an Ewoyaa drilling update ?
Yes volume picking up !
600T
Excellent post and well done to you , trustatrade and others for challenging the TW deramper crew. I have a considerable investment but will hang tight for the considerable upside this will bring , the excellent fundamentals are all still in place after all !
Fish2
TW has gone far beyond the acceptable boundary of just pointing out the relationship between LOG / LFC and IOG , in his own typical sewer language is attempting to put IOG out of business , he is a damn disgrace and has imo overstepped the boundary of acceptable investigative journalism.
Interesting article GM67, I have been reading more and more articles in recent weeks that query that the great shale play is going to continue to expand at current rates, the article states that only 33% of shale producers are in positive cash flow, this was backed up by Schlumberger CEO stating that he could see a slowdown in activity from Q4 2018 and I read today that Diamond are scaling back their shale ops. There is a myth that the shale players have managed to greatly reduce their costs , maybe that was the case a few years back but all I read about know is record high prices for land , personnel and logistics , all these new pipelines costs have still to be factored in and the majority of wells have not performed completions due to costs v POO . IMO the shale production is not going to hit the scale of some forecasters and that will be good news for POO and will greatly benefit our EPS once online, bring on 2019, Its sure going to be an interesting year
Toro
I can vouch for that , I am in IOG who have built a North Sea gas Hub and purchased a redundant pipeline , the final piece of the jigsaw is funding and despite the very compelling investment ROI have now deferred funding until Q1-2019 due to current market conditions. The BOD have considerable skin in the game with share options rather than salary and deferred to obtain better shareholder value with minimal dilution , admirable but now a nervous wait to see what deal we can obtain.
Gator
With your banking background what your view on the the current funding liquidity market place and why do IOG feel this will improve in Q1 2019 , I was puzzled to see no mention of a an offtake agreement as part of Phase 1 funding ?
IMO there are a number of PI's selling up on this share due to general market malaise making people rather nervous coupled with the frustration that the SP rerate promised ended up as a 40% decrease ! , well I suppose we did a get a re-rate !. The fundamentals have not changed , just the patience of some investors to endure short term pain for long term gain , personally I think we will grab some market attention in 2019 with the Ghana drilling campaign and hopefully have a SP increase to a more sensible valuation of our assets .
600T
Agree with your comments, we are in a short term pain for long term gain scenario. I would not like to see any delay to FOIL beyond 2020 so the BOD need to deliver on funding in Q1 2019, we now have the OPEC cuts agreed and if Trump can agree a deal with China that would help matters considerably.
A welcome RNS, good old MR trying to do his bit for the company and not selling to pay CGT, a clear statement of intent and confidence in the company
Where is the newsflow , we are overdue on updates from multiple plays , this share needs a catalyst to get market attention and the SP rising to a more sensible level , a broker note from SP Angel would help the PR effort but they have produced nothing to date , was this mentioned during the UK visit ?
We could do with some good news to arrest this sharp SP decline and focus the market on the positives for this Project, it would be beneficial to get the RNS out asap on the Thames reception facility purchase which was imminent as per previous RNS , excerpt below
Documentation is expected to be signed imminently for purchase of the onshore Thames Reception Facility, where IOG’s fully-proven, 550 MMCF/d capacity Thames Pipeline lands at Bacton Gas Terminal on the North Norfolk coast. Our ownership of the pipeline will provide a low-cost, safe and efficient export route for IOG’s assets straight to the UK market with future commercialisation optionality.