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Thanks for your response rxdav

So you’re happy for the price to drop to 10p... interesting
Cutting your nose to spite your face
What do you think is going to happen to the gazillions of options that are now under the control of the administrators? What do you think their impact will be on current IOG equity ? On a range of 1-10 1 being bad and 10 being an unmitigated disaster... how much of a wipe out affect will they have ?

If you think the administrators number 1 priority is IOG shareholders you’re very much mistaken !

Imagine IOG were to sign a farmout agreement with shell or BP and they got 30 million cash , who do you think will be the first in liken for that cash ? Answer on a post card please

All imo of course;)

Jimmy of course RRE are disreputable!

They tried to do a business deal that will help the poor and unfortunate small bond holders recoup some of their losses administrators have obviously refused because they would prefer to milk the LCF /IOG cow for a couple of years instead ! IOG BoD have refused the cash offer for the shares because they would prefer to remain withdrawing their 6 figure salaries and 6 figure bonuses a little while longer too... I don’t blame them TBH ! Totally understandable!! It’s the little fellas I worry about ! Gazza and Timmy from the pub who invested their life savings and monthly salary in this dead cert oiler that’s going to make them millionaires ! You know the type who bought a few months ago at 36p because Rob’s mate told them IOG is worth £5/share by Xmas!

All IMO of course ;)

Serious question rxdav

Where do you think the IOG SP will close when RRE walk away...

I’ll give you 3 options

A) 10-12p
B) 8-10p
C) Below 8p

LFMAO

ALL IMO OF COURSE;)

““ I will sell to RRE for 40p”

The way I see it, you’ll either

Sell to RRE for 20p

Sell to bondholders/ administrators for 10p or less

Pick your poison !

I don’t think RRE have made you an offer of 40p lol

All imo of course ;)

Hopefully some astute IOG shareholders managed to sell into the pump above 20p and made some money from 13-15p!

Could be squeaky Bu time come Tuesday when AA walks away!

I believe they have been accused of fraud ! Some have been arrested and questioned under caution! I don’t think jimmy is far from the truth there!

All ImO of course ;)

Jimmy

Let’s be clear !

IOG have amazing assets (fact)
The NPV of the assets has potential to go into hundred of millions if not over a billon (as per IOG presentation)
Someone will benefit from the value of the assets!
It will not be IOG shareholders IMO
It will not be LCF 8% bondholders

When AA decides to walk away IOG SP will likely fall significantly!
When Loan holders/ administrators dilute the equity by 50% current holders will be diluted into oblivion!

All imo of course ;)

“ I will sell to RRE for 40p”

————————

No you won’t!! Not for 40p! :P

Since you have such an amazing sense of humour, I’ll take off my serious investor mask and treat you with the sense of humour you claim to have! ;)

I honestly can’t see why you are despised by all RRE shareholders ! May be they are jealous of your Buffet-esque investing nouse.... yeah that’s probably it!

BTW RXDave , how many of these magic IOG beans do you hold ? You’ll be rich I tell ya ! Rich !! Rich !!

Don’t know why a fairly reasonable, amicable and well articulated discussion turned into talk about blunts and lobotomies!!!

My question was a serious one trying to understand if a share offer may be more acceptable to holders than a cash offer! Didn’t realise it was an insult ...

PS: I’m a non smoker !

PPS: yes all those dumb RRE shareholders who bought RRE shares at 150p around a year ago (some of whom will be on their way to millionaires) will be ruing their luck and wishing they had more brain power so that they could spot dead cert winning investments such as LCF bonds and IOG shares ...

When didbRRE offer 23p/ share for IOG? I thought it was 20p?

Thanks for your response RXDAV! Although I don’t necessarily agree with it, I respect your opinion...

I assume that you are not aware that RRE has signed a deal that effectively doubles its revenue and production prior to being suspended? Judging by the fact that you are using the pre-suspension RRE SP .

I know that you can’t tell the future and know what price RRE trades at when producing over 20k bopd but surly you know that it won’t be the same price it was trading at when it is producing 11k bopd?

Would you have been happier if RRE made an offer in shares? That will have allowed IOG SH to benefit from future value of the assets...

If so, how many IOG shares for an RRE share do you think is a reasonable conversion?

I’m glad my post was taken in the way it was intended! My aim was just to offer an alternative opinion and say be careful! I’ve been investing in the oil & gas market long enough to know that sometimes we believe in the assets so much that it can cloud our judgment!

Nothing would make me happier than to see takeovers on AIM oil shares happening at the premiums we saw in 2012-2014 ($10/bbl) but we live in a different world now!

This saga will be over one way or another next week.

Good Iuck all

There are many now defunct AIM oil companies who at one point had amazing assets and were darlings loved by the market!

XCITE ENERGY borrowed some wonga from Norwigen loan sharks in the form of bonds and when the due date came and they couldn’t pay up the Noggies took the asset! They gambled the company on trying to secure a farmout that never materialised!

Max petroleum were a happy go lucky company drilling shallow wells and making good money! They had this really big and deep prospect that lay 6000m below surface that they wanted to explore! They tried to farm out but couldn’t secure a farmout deal... They got some loans from shady black market banks and started to go it alone. The well suffered delays and they needed more cash . Anyway to cut a long story short they became insolvent and on their tombstone it says “here lays a once prosperous AIM OIL CO that overstretched itself and got killed by debt”!

There are plenty of examples Petroceltic, AMI, night hawk energy, Caza!

I could go on ! Be careful what you wish for!

A mixture of bad debt and poor management is the perfect concoction to kill any pre-revenue AIM OIL CO! I believe IOG have both ingredients for said concoction!

20p/share is a very generous deal given the fact that there are mountains of bad debt that need to be serviced! Also taking into account the fact that the lenders are now in administration!

Good luck guys!

Peel Hunt upgrades UK-based oil & gas co Soco International Plc to "buy" from "add" saying "market has not yet valued the portfolio reset"

Brokerage believes value in transformative Egypt acquisition has been missed by the market

Proposed acquisition gives co scale and numerous upside opportunities - per broker

Broker views the co as undervalued asset, a clear path to production/NAV growth, among others

Peel Hunt believes successful delivery of the extensive Egypt drilling programme being key catalyst for a share price re-rating

Hopefully they decide to arrive during our lifetimes!

Ivan’s is right actually

Cadogan and Echo spring to mind !

The ones trading at less than cash are the ones you should be avoiding though! They are trading at a discount for very good reasons!!!

Yep that’s how I read it also! I think the games a bogie now! SDX ENERGY, GENEL ENERGY, TRINITY AND SOCO INTERNATIONAL is where I’m focusing my efforts ... specially while RRE is suspended

Needs to be put down and cash returned to shareholders ! If they even issued that as an AGM option price would triple!

At 14p, I’m not sure there are too many people in profit ! Unless they are new buyers from a few weeks ago and happy with a mediocre profit of around 10%!

Volumes are getting healthier now which isn’t good to see ! Looking forward to the results to see where we are heading