Member Info for Smellyben

I'm not sure this will soar short term but the fact board took massive pay cuts recently but put in huge bonuses once the share price recovers to 5p and more means its a 2-3 year play for significant upside - still think the y screwed the old shareholders though and hope someone sues !!!

It's worth repeating that iog were valued at 300m this time last year - now it is 10m

The fact the sudden collapse of the gas price as at June23 has caused covenant issues is important but gas prices have on average nearly doubled since then ranging from 75p to 110p and are forecasted to be around 150p +this winter ( assuming a normal winter and no Ukraine issues ) . The company has for several months been taking action to make the balance sheet more robust which we can only assume mean cost cutting and extra production ( even if sub optimal pricing)

The awarding of further licenses are due in the next few weeks adding to our assets.

If you believe the cost per therm is going to average 50p or so then the company may well be insolvent but then Berkshire hathaway as our JV partner don't appear to think so and I think warren and his minions know their eggs

My point is this is currently being priced for administration and I believe there will be several options for refinancing from lenders who take a medium to long term approach if the bondholders try to play hardball. I dontvthink thatvwill happen rather an extension of the bond and more stringent repayment plan linked to gas prices

Given thatvI believe this could easily be 10p-20p by year end as all of the above unfolds and believe the chance of the administration of a UK gas supplier in this environment is highly unlikely. That's why I'm invested here as the upside is huge short, medium and long term.

Whilst I believe Harry has been a disaster as a ceo with his overpromising and under delivery there is no need for a placing for at least 3 more likely 6 months - the believers think funding will be done by then I confess I gave up about 6 months ago but good luck holders you deserve it !

Apologies if that was wrong - still point stands if THEY thought it was a good return at 12.5p and rejected a takeover offer then gotta be in the teens surely

Adelp etc al bought at 9p and rejected a bid higher than that so shareholders deserve at least that level surely, more if they are correct with their rejection.

A BUY from British Bulls

A BUY with British Bulls

Shorts are still there - just over 1% of the company

The body have a duty to all shareholders and aleph have less than 25% of the shares - substantial yes but a long way from controlling

You are correct historically bit of a shambles by management drilling for the sake of it but new management new strategy new shareholders new finance and upside is obvious - why else would the biggest shareholders turn down 11p last year

I reckon you are wrong meteor - they have more than enough money to pay the interest so a rights issue wont be done for that - what we dont have is clarity on how we will pay the €105m in a years time so THAT needs to be re negotiated to enable IOG to continue to trade. Given the assets are worth somewhere in the region of £300-400m that should be possible

A very long way to go to get anywhere near last year's takeover offer !!

Where are these rumours ?

I like this as well

SDX's new roadmap in Morocco, which the Company will present imminently

Hopefully we will find out about value of the Egypt sale or at least an indication of the range

For the last few days large sell trades have been going through at 3.50 exactly - someone is getting rid of their shares - we will get a tr1 next week on exactly who it is

Much as I'd like it to be true if anyone puts any store in what sone anonymous poster on a BB says without evidence they need their head and their wallet examining

Another 2m sale - will find out by end of next week who is selling I guess

Hoping not joking!!

They would have breached the bond covenants ( which are more than just paying the interest) so in theory the bond would be immediately ( or within a short timeframe) repayable- worst case scenario being bond holders forcing us into administration etc if they could not refinance. Of course refinancing is very likely and why the consultants have been brought on board but nothing is certain hence the current price. I for one am very optimistic and think the risk reward is very favourable here - here's joking anyway.

Over the last couple of days lots of 1m 3m sells at 3.5p so filling a big sale - maybe entered into before the news broke but worrying if someone knows something bad but I can't imagine what