Re: something brewing I am a 19p holder and watching with interest.
Re: something brewing I think you missed a 1 off the start of that hoped for SP
something brewing about time we got back to 18p
Re: Be noce to have company here thanks.Seeing a gentle rise hear.Upon good news on Ineos or current license applications we should see a surge in the sp.
Re: Be noce to have company here Hearing you
Be noce to have company here SP on the move.
This is so oversold my assumption is that fracking news is likely at some point soon from IGAS or Ineos. The sp is likely to go up materially. Not much downside.
waiting for lift off Not sure if fracking will get a boost on back of Hinckley delay - lets wait and see,
INEOS is fast tracking discussions government License applications for shale oil & gas onshore using fracking. INEOS is becoming a major influence in the progress of the industry. INEOS usually buys up the opposition like Igas in this case so should expect either this or at least a joint venture. All good.
Rumours This is probably nothing but does anyone know if Ineos is seeking talks with Igas about a tie-up or TO.I heard this from somone recently and know nothing more than this. I am not intending to ramp here.
Re: From MarktheSpark on LSE... No way the UK tax payer should be paying billions for untested nuclear technology when the UK build more gas fired power units. I like nulclear but not at the huge cost proposed in order to win French and Chinese money.So eventually IGAS should come good but the share price has forced me out recently as there are too many opportunities elsewhere compared to this disappoitment.So IGAS should come good because shale gas will become much more imperitive in the UK.GL to those that hold.
From MarktheSpark on LSE... Looks like, from comments in the press, the new Hinkley nuclear development is now a non-starter, leaving the government with little option but to prioitise subsidies for new gas CCGT stations to ensure long-term continuity of electricity supplies. It will be interesting to see the attitude of the new Tory leader to green issues. Presumably Andrea Leadsom, (leading Brexiteer) currently the minister responsible for shale development, will have a greater influence.
Management It takes a special kind of management to release an AGM statement but doesn't think it necessary to mention that their balance sheet is unsustainable (their words from a few days ago), they are in danger of breaching their loan covenants and are under pressure from lenders to increase the capital base of the company. The knid of management you would be mad to trust.
Todays announcement means ... ... they are in danger of breaching their covenants and are trying to get the bondholders to accept a change in terms. However the bondholders are demanding the company reduce its borrowings which it can only do by further asset sales (almost impossible in the current environment) or more probably a rights issue. To raise sufficient to make an acceptable reduction in their borrowings probably means around £20m and an issue of perhaps 3 for 5 at 11p.
Trading Update Superb timing !!Update all going well, if steady. More applications expected, for fracking. 2 wells in Weald, could be interesting ? The main good news is : o 405,000 barrels hedged to June 2017 at a floor price of $50.25/bbl as at 30 April 2016 Price / b 2016 expected to be $30/b