Member Info for Wolster69

I can understand the selling given the latest RNS as there's not likely to be significant uplift until flow test results on H2 show decent flow rates with little or no liquids. If that happens then I'm sure there will be a significant return of big buyers. In the meantime the sellers probably want to grow their funds elsewhere before possibly returning.

Mole - you need to read the RNS 's more carefully. It clearly states EARLY Q2 which is April ( and mid would be May and late would be June). Secondly, latest RNS now states 5 months to drill clean up and connect, nothing else - whereas in Dec he said that would take 3 months so should clearly explain the extra two months. It also states under the current plan so no new plan has been made yet for A1, the move from 3 to 5 months is based on the same plan, so the extra time does warrant explanation IMO.

Whilst reviewing some of the RNS's I notice that the update in Dec from RN states early Q2 for production from A1 following A2 production from mid Jan, so a time of 3 months roughly to drill and get A1 flowing. Now the latest update states 5 months to get it producing, so I think an explanation is needed for the additional 2 months ? It is such issues that damage IOG and will make it hard for investors to risk their cash going forward without news of confirmed success first. Better to make less profit than lose money on more failures, but each to their own.

Reading it over again, maybe it is a delaying tactic from Govt and courts that they've taken over a year to say, "sorry, not us" ! By time this is resubmitted and heard the APA decision will be long made so surely action would not be possible and just a fine issued and maybe a slight reduction in area of mine? To remove lithium from the permit after approval would surely not be possible?

Yes, but they now have 30 days to file it against the right party so the whole slow process starts again, so it might have been a crafty delaying tactic all along is my concern. It does state that it doesn't affect the ongoing process though so hopefully the APA get a move on once SAV submit the EIA finally.

Everything crossed for the green light of approval but I sense that the protests will continue even with approval and may even grow and intensify with an added feeling of injustice at the decision so I'm expecting a continued tough road ahead for SAV even after approval.

Andrew0000 - only what has been said in that their processes maybe trigger sales at these low prices and they don't like the repeated failures IOG have suffered and over 90% sp drop in less than 12 months !?

I'm only holding out now as BH seemed to commit to ongoing support for the upcoming plans so hopefully IOG's "luck" HAS to change at some point and the sp recover at least some of the lost ground. H2 is massively crucial now after the A2 flop, and obviously A1 important too but my confidence in that is not high at this stage in case Southwark geology prevents a successful drill there too. The sooner we hear the outcome of the investigation into hydraulic stimulation plan the better, as they are now clearly nervous that it isn't suitable and the "big bullet" remedy didn't work either, so they need to QUICKLY come up with a suitable alternative method that has a better chance of success to get the gas out without water.
I wonder if 2023 improves then BH might step in regarding the bond next year, but if not then I can envisage them walking away and leaving IOG stuffed, possibly picking up the remains themselves. Who knows at this stage, but IOG seriously need their thinking caps on as next steps now simply MUST be the right ones.

aligator- you forgot to mention they abandoned Skipper and Harvey !

Scored- presumably Deltic flow is dry gas though with no water ingress to get rid of at high cost which makes our A1 flow non commercial currently ?

Ha ga drillspark, another dope who can't even get the saying right ! THICKO!!! crawl back to trader land the lot of you.

Aklee, see you next tuesday

After hours sp currently at 4.15p....Will be intriguing to see if it crashes into the 3's on opening tmw

Well Moram clearly doesn't rate IOG's chances of survival very much !

RNS says they're reviewing capex budget so it seems obvious something is going to get cut from the plans for 2023. Many on here clearly don't read RNS fully and digest ALL points. My guess is Southwark will get canned unless BH say to proceed ASAP whilst equipment is there rather than move it to Blythe and then potentially back again. However, if H2 didn't work then no producing assets left anyway so maybe need to try to get A2 well onstream now and face reality if it fails too. Lot of hard work and decisions needed now between IOG and BH.

Is it just me or shouldn't the below (quote ftom Dougie) already have been known before Southwark was stimulated ?! ........
"Moving forward, a key focus area will be assessing the viability of hydraulic stimulation in reservoirs with low column height above free water."
Studying this now after the horse has bolted and crushed Southwark as a commercial prospect seems extremely poor on IOG's part. Basic risk management surely and crucial part of planning?

Edgar222 - maybe true, but clearly not as much crap as the board have spoken !

So p***** off with IOG for their incompetence and myself for staying invested for years despite the regular bad news. Thought we'd finally cracked it last March with first gas at last and lots to follow but gone t1^s up ever since basically. They claim their plans are commercial at 45p gas price, but the issue is that they can't get the gas out successfully. Surely the board needs a major overhaul yet again to get some people in who actually know what they are doing, or a buyout by similar capable folk, but who would take the risk when the fields appear fairly useless and troublesome. Feels like the slide to oblivion now for IOG so all the ramps on here will help that slide ! Gutted as this has cost me severely and in my gut I feared it would but stupidly remained heavily invested rather than listening to gut and cashing in over 40p, over 8 times sp today.

I understood they are not re-fraccing by hydraulic stimulation but using a "big gun" to perforate much deeper to stimulate, and from images seen that occurs from a tube down the well ? So no stimulation vessel may be needed this time ? Other tech experts may be able to clarify ?

Is definitely not for widows and orphans as they say