Member Info for Wolster69

Thanks Peakview, for understanding where Im coming from.
Drillspark - as I stated on earlier post today, no ulterior motive as am a frustrated LTH. Also, not implying anything, just sharing info I've researched on potential fluid loss implications and risks, but will keep it to myself going forward as far too many blinkered types on here that just want to cross fingers and remain blind to what potential impact these issues COULD have on our investment.

Been researching due to lack of expansive info from IOG, and below found....
"Drilling fluid loss always occurs and causes severe problems. It is important to understand the cause and characteristic of the loss. It is one of the major problems in naturally fractured reservoirs. It extends the drilling period and causes economic loss, and also can cause severe accidents such as wellbore collapse and blowout. Expense to control loss takes a large proportion of operating cost, si it is vital to solve the problem promptly as possible. "
It is clearly quite a complex issue to resolve and requires very detailed investigation and care as the structure can be damaged. The high porosity of the Bunter Sandstone will not help and my take in addition to the RNS is we are looking at a lengthy delay into 2023 for first gas if / when the issue is resolved. If Q4 production is achieved at Southwark then IOG will have done extremely well I'd say.
I am sure others on here with experience and knowledge may comment further on this fluid loss issue.

Ajilimon - if those bits of news do not affect sp then please give your thoughts as to why the sp has crashed from nearly 40p to 28p since Wednesday's close.......

Even if I had the funds available, I think I'd be waiting for some positive news about issue resolutions, but maybe fortune will favour the brave ?! I guess the sp would begin to recover before we're told news anyway as news always seems to leak out before any RNS.

Ajilimon - no agenda as you put it. I am LTH here and fully invested, but just struggling to believe the news of yesterday and the fact that yet AGAIN IOG failed to update market in a timely fashion. They are obliged to update on such matters that can impact sp but regularly ignore such requirements. Sounds like it is you that has the agenda if you're waiting to pounce on the sp falling further so take your accusations elsewhere, like the mirror.

The next onslaught on the sp appears to be underway. No further detail as yet issued by IOG. I worry this slide will continue until a positive update on both issues is released. From little research on Web it seems that subsea tiebacks should have real-time flow monitoring technology on the pipelines to immediately identify issues like salinity affecting flow rates and quality, so I'd really like IOG to confirm if they have such technology in place from each reservoir, as the fact they don't yet know where the issue is suggests they do not. Even more concerning potentially is the fluid loss at Southwark as that can damage the reservoir itself the longer it goes on, so we should be told when this issue first began. They seem arrogant in just plodding on without issuing detail for investors ike us to make INFORMED decisions. They may well resolve the issues in time but that doesn't excuse their poor communication and ignoring market rules about issuing news that impacts sp.

So it's all fine that they sat on this info for who knows how long rather than inform the market as they are legally obliged to ? Not blaming directly for the issues but they either the info and they get paid well to carry the can at times like this....fact.

Surely LOG were tipped off in advance and agreement made to sell just that 6mill chunk for now in return for the tip off? Too coincidental the timing otherwise ! FCA must surely look into this type of obvious insider trading abuse ?!
Can't imagine anyone would try a takeover until issues are firmly resolved, if they can be ?
Alarming comment by poster earlier was that IOG would now be bust if gas prices were only 45p as they planned to be commercial, so that just shows incompetence of this board which need to go now surely and be replaced by knowledgeable experts operationally to resolve issues effectively.
Will we be driven down towards 20p mark again like previous bad news aftermath? Or even lower this 2nd time around on double bad news ? Situation sucks so bad as I'd been expecting a great set of interims and positive news.
I fear looking at the trades early doors tmw in case of further carnage.

More detail and timings are needed to flesh out this RNS. If the issue at Southwark has been going on a while then it can damage the reservoir. Why are no flow measurement devices in place from each of Blythe and Elgood to easily identify which has the problem, or is it on a joint flow section ? Again, how long have they known as that would indicate if they are struggling to resolve the issue or if it will be straightforward and just a matter of time (short hopefully). The lack of such detail just causes more concern than might be necessary. Familiar tale I know with IOG but it seriously needs addressing as better info might have avoided such a large sp drop today. Who knows what reaction tmw once more holders read the RNS in detail and consider selling until some resolutions are confirmed, as there must be a risk of further bad news if they struggle to fix. The longer until resolutions are confirmed then surely more risk of further sp drop, although it does seem to have settled a bit above 30p this afternoon.

Thanks, Jemand

Viable - no practical purpose ? Nor does bragging how you bailed out beforehand to rub it in to those of us suffering large losses in value, so now you're out you'll hopefully go away.

What I find incredibly frustrating is that IOG constantly fail to issue RNS about issues that clearly impact sp but are happy that insiders clearly know and that affects our investment values and pi's but IOG don't care about that. They will have known about all these issues for ages and it is disgraceful that they are allowed to not announce it at the time so we can make appropriate decisions about our investments, and instead announce a lump of bad news in one go to massively hit our holding values. Any one know best body to report this to as I've had enough of this treatment and want the regulators view on it.

IB - yes sorry, its 50 working days isn't it, but I was just thinking 50 days in general !

Old news mick88, and the latest possible date for APA decision is end March 2023 inthis fixed time frame, but could be much earlier and even by year end if all submissions done by end October.

Tesla were at the forefront though, whereas it's now a case of others following an established path, so much less s***e to encounter surely, other than getting hold of sufficient materials like Li ?!

Duster - do you have some knowledge of an issue to be announced? Or what exactly are you hoping they get right this time ? Or do you just mean you hope they have no bad news amongst this interim results announcement ?

We need some detail with the forthcoming update figures as to exactly what IOG are doing/planning with these huge amounts of cash flowing in, and once Southwark kicks in too.

That was just from Blythe and Elgood. Southwark is expected to double that rate.

Starfoxx, I will have a look myself when I get the chance and I am sure that there must be adequate water in the area or the project would have been rejected outright by now surely !

Exactly IB, so will it ever really get built if there is a water shortage in the area already ? Would be criminal if that is the case in reality and SAV have ploughed on regardless with a fruitless plan ! Surely that can't be the case as that would be tantamount to fraud imo.