Member Info for robizm1001

They advised 45 to 60 mcf of gas production so everything is going as planned otherwise we would be told

I get close to that at £5 a therm after capex and royalty.

They have said Nailsea FID end of year. They gave guidance of 45 to 60 mcf ( hopefully upper end) to end of year and Southwark start up in Q4. Hopefully they will start two projects to stick two fingers up to the windfall tax. Results due this week or next.

Then they can ramp up electricity production.

This is crazy. Off to put some more insulation in the loft.

I might be reading it wrong but to me it is saying gas is priced high out to 2027 before then starting to drop.

At £5 a therm possible this week they are chucking off cash. Southwark on time and serious money coming in every month. Gas could hit £7 a therm this winter and their forecast were for 45p

It makes sense. Imagine what the gas assets would be worth anywhere else also onshore as well.

Assuming production doubles after Southwark so 580k therms a day estimate.

They gave 2nd half guidance of 45 to 60 mmcf of daily production. 60 is roughly 5000 barrels a day.

If these are producing at least 10000 boe at year end and the Russian war is not resolved then the cash coming in 1st half of 2023 will clear debt and provide capex for phase 2.

Especially with them cutting supply, you can almost bank on it. My neighbour is moving in with her sister to be able to afford to heat the house as they are over 70 and have the heating on all day. I am in a semi detached so my gas bill is going up this winter lol.

Hopefully Southwark flows better than expected (phase 1 was forecast at 12000 barrels a day).

580k x £5 (peak winter futures price) =£2900000 - £90k = £2,810,000 x .8 = £2,248,000 after capex and royalty.

£5 million a day . I got them 10000 barrels a day roughly with Southwark and even at £5 a therm get no where near that

If gas prices are anywhere near future prices then iog will make huge amounts especially when Southwark comes online as all unhedged. But the world economy will be in serious trouble. Most large gas users will be put out of business and the poor will not be able to use gas central heating at all. Sadly only the Russians can stop this and don’t think they will.

Sorry convert the unsecured loan stock into shares

No LOG can convert them anytime in the future into shares at 19p each.

Will they bid?

They were originally 2018 and were exchanged in 2019 into long term non interest bearing convertible at 19p a share.