focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Https://www.alphaspread.com/security/lse/igas/dcf-valuation/base-case
The intrinsic value of one IGAS stock under the base case scenario is 75.3 GBX. Compared to the current market price of 12.15 GBX, IGas Energy PLC is undervalued by 84%.
Yep - that is the smart money, sneaking in under the radar - standard procedure - buy in small clips, to avoid moving the price and remain undetected. Institutional money won't show up until later on and then once the full on rise is well underway, retail piles in - which is the point that the smart money, starts unloading!
May only be a month of hedging in total - but it will make a bit of a difference
Thanks G- martin
one other point to note - whilst they did take losses on hedging in 2022, they will make on it this year....from the same accounts..
To protect against the volatile oil price and in accordance with the requirements of our RBL facility, the Group placed commodity hedges for a period of up to 12 months. As at 31 December 2022, the Group had hedged a total of 60,000 bbls for 2023, using fixed price swaps at an average fixed price of $94.93/bbl.
From the annual accounts...end december 2022
We are now firmly focussed on maximising the value of our oil and gas assets to facilitate a "just transition" to a renewable energy future through the growth of our geothermal heat business
...
that says to me and it is just my opinion, that they are going to offload the entire
O and G business, and "transition" to a solely geothermal business, with no liabilities and cash on hand to develop it.
at the current cap, an announcement of a sale of the entire O and G porfolio should put a rocket under the share price.
Well, I have been adding sub 45p this morning to take advantage of the disgruntled selling phase.
I will be after an over allocation if i can get it in the open offer - unless the current sp, stays below 45p, then i will just buy in the market.
Trying to throw the pi's a bone...
an incremental up to EUR8 million (c. US$8.6 million) open offer, primarily to allow non-institutional shareholders to participate in the Equity Fundraise at the Offer Price;
They knew well in advance and this view is supported by this statement in the rns...
the Company has consulted extensively with its major institutional shareholders prior to launching the transaction and intends to respect the principles of pre-emption in the allocation process of the Placing;
In line with the Company's dividend policy, the results will not support the payment of a final dividend in respect of this period. The Company intends to focus on strengthening Jadestone's balance sheet before reinstituting shareholder returns once the Akatara development is on stream in 2024, or earlier if the financial position of the Company permits.
HtTps://www.energyintel.com/00000188-4eb4-ddc5-ab9e-eff65a5b0000
No matter the origin of the deal, it's now clear that Rosatom will play an outsized role in the world's largest uranium producer, even as it is slowly cut off from supplying fuel to nuclear operators in Europe and the US. Indeed, Rosatom's pro rata equity offtake from Budenovskoye-6 and -7 will likely by itself surpass domestic Russian uranium output, raising the question of what Rosatom will do with all this material. One obvious answer would be to sell it to the Chinese, although it's not clear to what extent Moscow has any interest in selling on yellowcake — as opposed to low-enriched uranium or fuel assemblies.
For the Chinese part, the CNNC Overseas deal with Kazatomprom will surely make a dent in Chinese uranium demand going forward, given the scale hinted at by Kazatomprom's filings on the subject. During Tokayev's visit last week to the Chinese city of Xi'an, for a Central Asian summit hosted by Chinese President Xi Jinping, a May 17 joint statement from the two leaders only mentioned uranium in passing, in a pledge to "continue to deepen cooperation in the fields of oil, natural gas and natural uranium.
Jono,
thanks for that point - the valuation for the company is based on, everything having been taken out, so the figure attributable to shareholders in the accounts, takes into consideration the fact that only 42.53% of the attributable revenue for uniteds share is received by the company.
as for the point re number of barrels - yes, I did a "range of one year" based on 462 bopd, and gave gross revenue at the same price used by the other poster - sorry didn't specify in that revenue figure, re the tax take by Egypt gov. - should have made it clearer
IMO and we all have different views on it, ...
net assets after all liabilities are about £16m in last accounts
After all taxes and charges on revenue - the total attributable to shareholders was £2.3m
from a valuation perspective as at the last accounts - you could say that £18.3 million is the current value of the company
that would imply a share price of about 3p
sales of assets, farm outs and positive drilling excluded from above