Member Info for Smut

Yes, happy new year to yourself and the crew lol. Agree with murky, still looking, but im no finacial/legal whiz.

I must admit, got twitchy when funding update landed. Followed by a sinking feeling when mr left. However, the company has stated in black and white. That Log have no early repayment option on their loan to iog. Worse case scenario if funding is not sorted this qtr then iog will need to raise only 3mil by way of possible placing in 6mths time. STILL NERVOUS mind!

Dunder, Essentially banksy may be right. Log could have a problem if lcl want it back. Iog may be bulletproof short term. Yet again it all hinges on the wider phase 1 funding!

Long time no see IH. Trust you are well. Any thoughts?

Perhaps the 3 options should be cancel brexit, accept mays deal or no deal! Simples! Let the people vote!

Not overly concerned. Given the state of wider macro events not overly surprised with delay. Sp still been relatively ro ust over the last 7 weeks. Feel drop today was overdone based on current trades 400k. But thats the markets for ya. Holding fast. Opec meeting on 6th and brexit sign off on 11th so impact will be known by then. Whos to say fid might land earlier than planned. Just putting it out there!

my luck, never expected to see this at this price again. Slightly miffed but not gonna look a gift horse and all that. Fresh funds that i would happily have topped up with at 120plus about to get twice as much! Cant complain really. This unbeliably cheap for where pmo are. So on this occasion i thank the manipulators. Gonna watch abit more closely for top up. Atb

It could possibly be the realisation that gvc will still have to pay for the cvr's and that online tax increase may bite hard. With regards to the cvr's, i think the zero value only comes about if the £2 max stake is implemented before 28th march 2019. Now that the government have delayed this until october next year, does that mean gvc will have to settle cvrs at max value? Atb

Ya know what dbno, its about the only sentiment of recent that we share lol. Hope they find the soap really slippy!

No dbno, regulars still here, nothing much to say or happening atm for those invested longterm. Atb

Guys, come across this https://www.energyvoice.com/oilandgas/north-sea/182723/greenfield-plan-could-be-model-for-gas-ventures-cats-boss-says/ Sounds very close to what we are trying to achieve here, but it has also raised some concern for me. So interested to hear from the more knowledgeable folk in here. Now that bacton exclusivity has ended, and cats now making reference to bacton and looking at expanding existing infrastructure could we have lost bacton? Furthermore the ets pipeline aint that far from us so will cats be working with iog on our pipeline or try to take it off us? Maybe pmo/dana snap up iog?

I sort of agree, oiluser/marshall. I know its not as simple as what im about to say but pmo could just takout rkh for the same price as is owed and then farm out to a major who does have the funds and still retain say 50% with no further cash exposure as such. Just a thought!

Ros1, maybe right with regards bhs, but i believe we will start to see ii's building positions from here on in.

Yes, i understand all too well! Still, 7k per penny is not to be sniffed at and still a substantial holding! Well done all the same. I tend to use my core holding on the cycle in quite selective companies (5 max). Think i got as close to the bottom as possible on this and a few others (now only 3 due to being taken private) and will exit as soon as i believe the top of cycle is reached. I too will continue to re-evaluate every so often but im quietly confident so far. Atb smut

Morning ros1, lol glad i dont have to be out during school run anymore, roads are full of wazacks! Theres nothing like a house party eh? If you can afford to hold another 2 or 3 years this should be multiples of todays price, that where the swngs will become to signinficant for some, maybe even myself! Keep the faith!

Yeah, im still here, long and strong! And yes....... very good % 😆

Exactly dinsalas. A little frustrating but not overly surprised in the delay. If anything, its probably bought iog some much needed breathing space, as someone posted earlier, the fabrication and construction will take some considerable time. So not a crying shame given the scale of projects and all thats been achieved to date is still quite remarkable. Been here a while already, another 12 months is nothing.

Quite agree gg, within 18months from now. (Taken from rns) iog will be targeting/producing 35kboepd, at approx 55 therms per boe with breakeven at 25p and at todays price of 74p per therm would equate to $344m pa profit less financing costs. So could potentially be a steal at £2 per share. Again, depends on how much dilution! (if any). I would hazard a guess that it would be significantly more. Roll on another 12mths!

Yes scotty, nor any of mine! a new 52wk high set already with plenty of news yet to come! Roll on production and then some!

Or a contrarian view would be..... if thats the bad news, then all is well?