Member Info for Wolster69

Dunderhead - there's some on here who others think know their stuff but don't actually know it all, as a few were saying that the issue with Southwark was clearly sorted as there would have been a further RNS if not and it was just a typical drill issue anyway and nothing to worry about and shouldn't have even been mentioned to begin with ! Yet it turns out to be an even bigger issue and has resulted in shifting to A2 in the hope of getting Southwark production by mid Dec to hit Q4 target (already hugely delayed) and avoid another missed target, even though we all know that the actual real target (A1) is missed.
The new guy may be an expert driller but he still needs viable things to work with at reasonable cost as he's not a magician, so we'll have to just see what the next couple of months bring and we'll know one way or the other by then.....everything crossed for nothing but positive news going forward, but could be a bumpy ride with large volumes bought at low prices so profit taking may severely put brakes on any rise back up.

Does anyone know what the planned split of production flow is for Southwark A1 and A2 ? The Moram article mentioned 40mmscfd total and assigned 20 of it to A2, but as I recall from ages ago but can't find now a higher figure for Southwark in total that was going to double production for IOG from 60 to 120 region, but no mention then of split between A1 and A2 figs. I assumed A1 would be bigger hence why they began with that originally so not sure that Moram is right with 20mmscfd figure for A2, but it might be an updated figure revised lower ? Anybody know Southwark detailed planned flows and well split ?

Unbelievably this now has a bit of a binary gamble gut feel for me, as I sense that any form of negative news about A2 could result in the sp slumping to low single figures and IOG's last shred of credibility would be gone as the new board would have fallen at first hurdle. Part of me is screaming to take the big loss now and get out with something at least rather than risk an A2 issue and be left pretty much wiped out. Any other LTH's feeling the same ?

ThomasMorris - thanks for posting the Moram article link. Hardly inspires me with huge confidence and seems to make it clear that IOG are actually teetering on the brink and Southwark needs to be producing from both A1 and A2 by Feb and no other hiccups to have a chance of making it out of ICU alive. Will be an interesting day tmw and week ahead to see if traders looking for quick profits push it up to 20p region but then bail out to crash it back down again rather than risk any hiccups with Southwark wiping IOG out, or if sp can continue to rise into Dec and first gas from A2. Fingers crossed yet again....

Says the project is still up in the air despite the extra investment. Seems like Iberian Peninsula intent on shooting themselves in the foot and missing out on the electric car opportunities......fools if they do miss out due to their inherent bumbling instead of making prompt decisions and taking firm decisive action.

What Monday briefing ?

Stubluekpl - that level of sp on first gas was when it was all blue sky and no issues foreseen with Blythe, Elgood and Southwark. Can't ignore the facts with the issues experienced to date and it still remains to be shown that they can be resolved effectively and that no further issues occur. Fingers crossed obviously for a return to the 40's and beyond but might need to be patient.....and more lucky than to date !

As a LTH and sufferer in IOG it is mildly amusing to see the comments of frustration creeping in here from newcomers to IOG ! You're in for a rough ride if you thought you could buy in cheap for a quick multi-bagger on the back of gas being a la mode. Change of management or not, there are still major issues to resolve and wise heads will no doubt wait for positive news about them being overcome before investing or increasing holdings. First milestone for me will be to see if everything comes back on stream ok after the "approx" 4 week shutdown, then if A2 produces by mid Dec in decent amounts. The new board need to keep the newsflow coming if things are going to improve much for PI's here.

Hard to comprehend it would hit that level so soon given we were sub 20p before the bad news RNS yesterday !

Load of rubbish, as what fuel source isn't toxic to pregnant women and far more people beyond ? Oil, gas, hydrogen, etc are all toxic so this is just scare-mongering nonsense IMHO. Pregnant women aren't going to be in contact with the lithium are they, just as they're not with oil and gas, etc so it's pure nonsense. And how could the EU claim to take an ethical approach but then continue to source lithium from outside the EU and not care about the health of non EU citizens !?

Chameleon - ok, so SAV need to definitely steer clear of hooking up with them again, which I guess they would anyway given previous experience.

I can't decide if Rio Tinto being involved would help or further hinder the cause against local opposition. Probably hinder as it would no doubt create a David v Goliath scenario and may swell the opposition significantly. On the other hand, Rio Tinto must have faced such opposition plenty of times and have a team well used to successfully overcoming such issues?

A no brainer that MdB is a PNI surely !

Mole - absolutely agree. Only positive Southwark news about first gas is likely to significantly move the sp upward. The Sept flow figs would have to be a massive improvement to push sp up and if that was the case then I'm sure we'd have had newsflow about it so Sept flow likely to be similar at best.

From news articles today it sounds as though IOG might have pretty much missed the boat of high gas prices due to Alltwen delays and issues experienced and by time resolved or more fields online the prices could be much lower. Massively frustrating for all LTH's like myself and concerned that further sp damage may follow this week as this news is digested with headlines speculating that price cap may not end up costing the govt at all due to gas price falling.

Shame they couldn't hedge 60,000 for Sept as that would havd brought in as much revenue as the entire 300,000 therms production at day ahead price !

Dunderhead - So is it only actually 82p that IOG are currently getting per therm for non-hedged output ?

Dunderhead - it was on Reuters as the current gas nbp price. Is that different to what IOG get paid for output?

VladNaz - around 300p per therm from what I can see !

Bit of a mixed message on production with salinity clearly still problematic and unknowns still exist, but decent income over q3 of £67m, but below H2 guidance as already mentioned. No mention at all of Southwark is disappointing even to just confirm on track gor q4 still or slipped to 2023. Could go either way today on this I feel.