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The UK’s Energy Minister Claire Perry has strongly rebuffed anti-fracking campaigners warning them that energy policy should not be dictated by “the demands of the shouting few”, as she pledged to push ahead with the government’s shale gas agenda. Perry made the comments during a fringe event at the Conservative Party Conference in Birmingham on Monday.
One of the 3 jailed protesters is named as Rich Loizou from Devon who could conceivably be aka our friend Rizalino who has gone very quiet since the 3 were jailed. If it is him I'm guessing he was hoping for a fine of 39p for his misdemeanours but instead won't be posting for at least 12months assuming good behaviour which isn't something he is particularly good at. How sweet would that be at a time when the SP is on a steady climb. lol
Interesting article on Channel 4 news this evening covering the rise of Deliveroo, UberEATS and Just Eat and pointing out that even though Deliveroo made a loss of 100 million last year it is GROWTH that counts as the real indicator of success.
Igas TREND still heading steadily North and the potential for GROWTH increases on a daily basis with Government support for fracking demonstrated by permissions granted to Caudrilla which has clearly been recognised by equity fund management companies moving into Igas shares.
If you read the FULL interim report there are a whole lot of positives in there including.
We are on track to spud our first shale appraisal well in North Nottinghamshire at Tinker Lane in Q4 2018 with final preparations now underway.
At our other site at Springs Road construction works are nearing completion. We have satisfied Condition 21 through the ongoing monitoring of site noise and this allowed us to resume works through the bird breeding season.
We were granted an interim injunction by Mr Justice Morgan in the High Court in London on 3 September 2018, covering our operations at Springs Road, Tinker Lane and Ellesmere Port.
The above statements put to bed previous crass arguments aimed at obstructing Igas.
Furthermore, if you read the Independent review report to IGas Energy plc, which is an INDEPENDENT third party, section 2 under the heading 'Going Concern' it clearly states.
The strength of the Group's balance sheet has been IMPROVED SIGNIFICANLY by the capital restructuring carried out in 2017. The Group continues to closely monitor and manage its liquidity risks. Cash forecasts for the Group are regularly produced based on, inter alia, the Group's production and expenditure forecasts, management's best estimate of future oil prices (based on current forward curves, adjusted for the Group's hedging programme) and the Group's borrowings. Sensitivities are run to reflect different scenarios including, but not limited to, possible further reductions in commodity prices below the current forward curve and reductions in forecast oil and gas production rates.
The Group's working capital forecasts show that the Group will have sufficient financial headroom for the 12 months from the date of approval of the financial statements. Therefore, the Directors have a reasonable expectation that the Group has adequate resources to continue in existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in the preparation of the financial statements.
Finally, it is worth noting that Imported gas currently costs over £13 million a day - money that is not generating jobs or tax revenues in this country. The government is clearly supporting onshore shale exploration and Cuadrilla will begin hydraulic fracturing of their wells in Lancashire in the next few weeks while INEOS have been successful in appealing planning decisions on their exploration programme.
There is a lot of discussion relating to derampers, mm's etc and their effect on the SP but has anyone considered the possibility of Russian influence?
Could it be that some derampers are being given backhanders by the Russians to bad mouth UKOG? The Ruskies have a big motive to protect their dominance of the European gas market. They would like nothing better than to see the UK shale gas industry fail or collapse under the weight of regulation, “environmentalists” and nimbys. The Ruskies already have form in RT broadcasts and funding protest activities, cheating at the Olympics etc; never mind poisoning.
Then again maybe some derampers realise that shale gas is a “Strategic Imperative” for the UK and they are desperately trying to talk down UKOG shares in the hope of diving in before the coming melt-up.
Realistic objective posts from Goldy & Penny.
Having filtered Ritzo some time ago I no longer see his comments but from what I remember all he ever did was repeat a mantra ****ging off the board and citing circumstances from 5 years ago which might suggest Penny is correct in his conclusions.
With respect to Penny's observations on Sand Grove involvement with Igas one might reasonably apply the same argument to the other major shareholders Kerogen Capital, KOG Investments, Royal London AM, HSBC et al. and ask yourself why these investment organisations would be getting involved in more recent times if they didn't see some potential for significant growth here.
On a separate topic UKOG have released a promising RNS today on the Horse Hill (Gatwick Gusher) EWT results relating to the Portland formation in the Weald pool which bodes well for UK onshore shale and gas exploration.
All imho, GLA
Trend still heading steadily towards north.
Have a nice weekend.
It would appear that Trolls aren't as safe as perhaps they think they are, especially when making comments about the boards and we all know one hear who has even gone so far as to actually name board members in his comments. See link below.
https://masterinvestor.co.uk/latest/usop-is-just-the-latest-company-to-take-a-swipe-at-the-bulletin-board-trolls/
Nothing not to like about nuclear ?
Bikini Atol - Still uninhabitable today.
Hiroshima - Vaporised on the day and left a horrendous legacy that exists until now.
Nagasaki - As above.
Chernobyl - Release of substantial amounts of radioactivity into the atmosphere in the form of both particulate and gaseous radioisotopes.
Fukushima Daiichi Nuclear Power Plant - large quantities of radioactive particles from the incident, including iodine-131 and caesium-134/137, have since been detected around the world. Substantial levels have been seen in California and in the Pacific Ocean. A 2013 WHO report predicts that for populations living in the most affected areas there is a 70% higher risk of developing thyroid cancer for girls exposed as infants (the risk has risen from a lifetime risk of 0.75% to 1.25%), a 7% higher risk of leukaemia in males exposed as infants, a 6% higher risk of breast cancer in females exposed as infants and a 4% higher risk, overall, of developing solid cancers for females.
Nuclear terrorism.
World War 3. (God only knows the power of modern nuclear weapons compared to those dropped on Hiroshima and Nagasaki)
End of the world.
Tends to put global warming in the shade don't you think? but hey, what's not to like?
I've got a good idea where the 'sells' went late on Friday afternoon as they correspond with significant buys somewhere else and are instigated by expectations of imminent good news in that other (smaller) company.
However, this does NOT signify a decline in Igas short to long term prospects as there is still huge potential in the near future, (technology driven, sector driven and politically driven) for this SP to grow.
Keep the faith, GLA
Here are a couple of snippets from IGAS Trading Update on 2nd August 2018.
Can't see anything here to suggest the SP is going to go anywhere else but onward and upward. GLA
https://www.investegate.co.uk/igas-energy-plc--igas-/rns/trading-update/201808020700045530W/
Goldie
Thanks yet again for a valuable, well balanced, informative, fact based comment.
The TREND since the beginning of the year is STILL upward and if you look at the chart you can see that the trend is progressing in a series of troughs and peaks.
I am expecting this pattern to continue with the peaks continuing to rise.
Happy Bank Holiday weekend to all serious investors.
First sentencing of Anti-Fracking protestors due on 25th September after 3 found GUILTY by a JURY. (See link below). This now sets a precedent for future cases.
With the government now firmly behind onshore exploration of both conventional and unconventional methods and now actively prosecuting protestors the only way for this sector to go is UP. This result signals the beginning of the end for protestors.
It's worth noting that NONE of the 3 convicted were local people and it's also worth noting that in most cases local residents are just as ****ed off with the disruption and nuisance caused by a handful of anti's as we are.
https://drillordrop.com/2018/08/22/jury-finds-three-guilty-over-lorry-surfing-protest-near-cuadrillas-fracking-site/
Goldie
Congratulations on an excellent example of how posts should be presented on this forum. Your post was FACT based very informative and supported with RECENT EVIDENCE and clearly indicates that the Government is 100% behind the growth of onshore Shale gas.
For those of you who are currently busy and don't have time to read the full documents in Goldies links here are a couple of significant extracts.
A new package of measures to deliver on the government’s manifesto pledge to continue supporting the development of British shale gas was announced (Thursday 17 May 2018) as part of the modern Industrial Strategy, by Energy and Clean Growth Minister Claire Perry and Secretary of State for Housing, Communities and Local Government James Brokenshire.
The package includes:
•Streamlining and improving the regulation process for shale applications to ensure decisions are made in a timely way and developers and local authorities are supported through the process. This will include setting up a Shale Environmental Regulator and new Planning Brokerage Service which would focus exclusively on the planning process and will have no role in the consideration or determination of planning applications. The service will not comment on the merits of a case and will also have no role in the appeals process.
•Launching a new £1.6 million shale support fund over the next 2 years to build capacity and capability in local authorities dealing with shale applications
•Holding a consultation on the principle of whether the early stages of shale exploration should be treated as permitted development, and in particular on the circumstances in which this might be appropriate
•Consulting on the criteria required to trigger the inclusion of shale production projects into the Nationally Significant Infrastructure Projects regime.
Energy and Clean Growth Minister Claire Perry said:
“British shale gas has the potential to help lower bills and increase the security of the UK’s energy supply while creating high quality jobs in a cutting-edge sector. This package of measures delivers on our manifesto promise to support shale and it will ensure exploration happens in the most environmentally responsible way while making it easier for companies and local communities to work together.”
Extract from Energy Policy:Written statement - HCWS690 (17th May 2018)
Despite the welcome improvements in efficiency and innovation from companies operating in the North Sea, the on going decline in our offshore gas production has meant that the UK has gone from being a net exporter of gas in 2003 to importing over half (53%) of gas supplies in 2017 and estimates suggest we could be importing 72% of our gas by 2030. Our current import mix, via pipelines from Norway and Continental Europe and LNG terminals that can source gas from around the world, provides us with stable and secure supplies. However, we believe that it is right to utilise our domestic gas resources to the maximum
Sand Grove's senior team are Simon Davies and Jonathan Groom.
Simon Davies is an Oxford man and part of his CV includes the following statement.
Simon began his career at Commercial Union in 1996 as an analyst focusing on telecoms, media and leisure. He later became a long only portfolio manager and managed a £2 billion portfolio of UK equities, at what later became Aviva investors.
Jonathan Groom's CV includes the following statement.
Before joining Sand Grove in early 2016, Jonathan was Head of Portfolio Management & Research at Belgrave Capital Management, where he helped select and oversee hedge fund investments for over 12 years. Prior to Belgrave, he was a long only equity portfolio manager at Rothschild Asset Management from 2001-2003.
The fact that they both have significant 'Long Only' experience could be reassuring?
This from the Sand Grove website with respect to strategy.
The aim is to limit downside exposure by being very selective and focusing only on investments with the correct risk/return characteristics. The hurdle for a potential investment is kept high and is met by the investment displaying favourable valuation, contractual or structural characteristics, as well as event dynamics and outcomes that can be understood and measured. A strong trading discipline and risk control framework are employed to mitigate potential losses. GLA
Sparkyboy1
You can filter annoying twats posts by doing the following.
1) Login to share chat
2) Click on the Share Chat box
3) On the drop down menu select Regular Share Chat
4) In the 'Filter' field type the nickname of the twat who is annoying you and hit filter, job done.
Then whenever you go into share chat be sure to login first and that will activate your filter.
The beauty of this is that you will then only see posts from people whose views you respect, you will not see the posts of anyone you have filtered, all you will see is a notice telling you that their post has been filtered but you won't see the content of their post, which is what I can see for the posts either side of yours, and since I know who I have filtered I therefore know who this twat is. It's brilliant as it removes the impulse to respond and if we all do it the twat ends up talking to himself and can't REPORT you for it, lol
Sand Grove must know something we don’t.
Top up time?
Any comments on the RNS issued today?
Clearly some 'shorting' going on at the moment.
Daily fluctuations are only significant to those 'shorting' substantial amounts to make a quick profit.
For long termers willing to hold the good news is that the TREND is still on the rise and for those prepared to wait 6 months to a year or maybe even longer there is a LOT of potential for greater gains.