@ 4.5 p.
Share prophets like it.
@ 4.5 p.
Notice this dealt on limit ( S i )
4.48 p yesterday just before close.
Malcolm G-Wood … commented modest celebration on placing .
Canaccord is joint broker can not see who other one is ?
I think this is starting to look quite good. Have taken up my allotment from the placing and applied for more.
Name change and consolidation and sub-division ( why complicate it ? )
Must have brought in at 89.6p equivalent.
Placing must of been around 90p ??
Sorry no name change… ( mixed up with other holding … i have far to many lol )
But there was consolidation. ( S ) sent e-mail .
Thought i had these and i do but in ( SI ) i bought @ 4.48 March 17…looks like the equivalent after consolidation was 89.6p.
Now 93p… was 124 p June 8th 2018
Can not get the Hawk page up on this new look site.
Saw IGAS on a list of 11 oil stocks to go bust blogged by Tom Winnifrith January 2016.
Thank goodness this one has not.
The others . PCI… LGO… XEL… MAGP… IOF… NUOG( the only one to recover )… NOP… GKP… EVO. as well as HAWK.
HAWK the last to join some of the others that have gone bust and returning nothing to holders therefore proving he got most calls correct.
Although i note Gary Newman his buddy claimed they were a buy 29/08/2014.
Are we expecting any news on IGas
Was reading about the jailed fracking protesters on Wednesday 26 September 2018 and saw that was a Cuadrilla ( private company ) site where they were arrested.
igas named by anti fracking site in list of other fracking company’s .
Egdon and Angus on same list.
As for my post 1st July 2018 … GKP has made good gains since and the oil price is much improved.
This fell from June 2018 high of 124 to 107 in July now 112.
Cuadrilla started first fracking in England i heard on news .
I thought it would be positive for this share price and it did gain 4 %
New recent lows on disappointing news.@ now 76p last seem in March 2018.
( Si… 89p )
low was 49.5p… 6th September pulled up a little after back to 52p today .
Hit new low Thursday 17th Oct.
New lows again here 43.1p today
Maybe fear of general election result on 12 Dec affecting .
Noticed Malcys comments on this site .
The Oil Man: SDX Energy, IGas, Ophir
by Malcolm Graham-Wood from interactive investor | 2nd February 2018 13:08
WTI $65.80 +$1.07, Brent $69.65 +76c, Diff -$3.85 -31c, NG $2.86
The monthly numbers for crude oil were good, WTI rose 7.1% and Brent was up by 4.3%, a decent performance under the circumstances. If there had been a blog yesterday it would have noted that poor API inventory stats were not continued in the EIA numbers, which showed a draw of just over a million barrels in line with estimates.
Today almost all the news remains positive, the Reuters survey says that looking at OPEC production data for January adhesion remains high at 138% and, of course, the Fed upped their growth targets at this weeks meeting. Brent has expired remaining in positive territory but notice the differential back down at $3.85.
I said almost because it seems like the Vampire Squids are doing their best to ruin the party for everybody. Having only just raised their oil price targets (Jan 17th) then Mr Currie suggesting prices were a bit ‘too high’ (Jan 18th), I notice that they have upped their targets again to $75 (3 million) and $80 (year end) in an attempt to catch up with the market. We are all doomed.
An update from SDX this morning in which they announce that the KSS-2 development well has spudded in the Sebou Permit onshore Morocco. The duration of the well should be 10-15 days and, if successful, will be connected to local infrastructure. The ONZ-7 well is scheduled to complete today and commence test production early next week.
An operational and trading update from IGas this morning and two things are different from recent announcements. Firstly, with production of 2,335 barrels per day and guidance of 2,300-2,400 barrels per day IGas’s conventional production is now generating free cash flow and therefore all the shale is effectively upside. Secondly, there are actual signs of activity with the drill bit in North Nottinghamshire, as they are planning to go ahead and drill Springs Road mid year and then Tucker Lane.
The company, as with other onshore players, have had trouble with local council planning committees, in their case at Ellesmere Port which I thought was nailed on, but I am sure that another winter of electricity supply uncertainty might prod the most Luddite of councils. Despite these upsets I’m still confident that IGas which still has a huge carried work programme and highly competitive costs is in a strong position in the industry.
When I last wrote about Ophir on 17th January after their trading update, I was, for the first time in a long time, starting to become more positive about the company and its short term prospects, it appears that the market did not share my optimism. With no recent announcement about funding for Fortuna, I can only imagine that it is this what is spooking the market, and that all the good things that I mentioned at that time are peripheral at the moment.
Anyway, todays announcement that the company has been awarded a 20% stake in blocks 10 and 12 in the Mexico offshore bid round 2.4 is good news and adds to their existing block 5 in the area.
Diversified Gas & Oil
Diversified Gas & Oil announced yesterday that they had made two acquisitions totalling $180 million (£126 million) and done an oversubscribed placing raising the same amount, and the same as the market cap, no mean feat in any market. This increases production by 173% and PDP million barrels of oil equivalent by 217%.
I have met DGO when they first came to the market, but have failed on recent visit to catch up. By the looks of it the acquisition of US onshore acreage and paying dividends has attracted to UK market, and the 28,000 barrels per day puts them right up there at least in size terms, more when I can meet them.
And what a weekend of sport it is looking like….
The start of the Six Nations rugby is always a magnificent time, and this one should go down to the wire. Tournament favourites appear to be Ireland, but I suspect England will be hard to beat and dark horses must be Scotland after the autumn internationals… Tomorrow its Wales v Scotland and France v Ireland and on Sunday England travel to Rome to play Italy.
Football almost becomes irrelevant, but the big game at the weekend is the HubCap Stealers v Spurs, while Burnley host the Noisy Neighbours and the Terriers visit the Theatre of Dreams. The Gooners are all over the shop and host the Toffees, which could be interesting, and Chelski dont play until Monday.
If you want some racing at the weekend you have to go to Leopardstown where there is amazing racing and can see Faugheen and Footpad amongst others to give invaluable Cheltenham pointers…
The New England Patriots face the Philadelphia Eagles on Sunday night at Super Bowl LII in Minneapolis. These teams have met in a Super Bowl before and the Eagles will be hoping to avenge the loss they suffered in 2005 when Tom Brady led the Patriots to a 24-21 victory.
Malcolm Graham-Wood is an independent oil industry expert and freelance contributor, not a direct employee of Interactive Investor.
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
energyoil & gas e and p
Wish i was not in these i wonder what affect this will have on share price Monday .
The anti fracking site copied under the ************************* posted company names
They also named Egdon and UKOG among other company’s involved .
I spoke to the men at dinner on Thursday about a labour election win on this company !!
Coybn already saying government election gimmick.
Spoke to soon lol
Price has been falling ( Trapped in ( S ))
Fracking halted in England in major government U-turn
Victory for green groups follows damning scientific study and criticism from spending watchdog
Sat 2 Nov 2019 00.01 GMT Last modified on Sat 2 Nov 2019 13.26 GMT
Fracking at Cuadrilla’s site in Lancashire was out on hold after a major earth tremor.
Fracking at Cuadrilla’s site in Lancashire was out on hold after a major earth tremor. Photograph: Cuadrilla/PA
The government has halted fracking in England with immediate effect in a watershed moment for environmentalists and community activists.
Ministers also warned shale gas companies it would not support future fracking projects, in a crushing blow to companies that had been hoping to capitalise on one of the new frontiers of growth in the fossil fuel industry.
The decision draws a line under years of bitter opposition to the controversial extraction process in a major victory for green groups and local communities.
The decision was taken after a new scientific study warned it was not possible to rule out “unacceptable” consequences for those living near fracking sites.
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The report, undertaken by the Oil and Gas Authority (OGA), also warned it was not possible to predict the magnitude of earthquakes fracking might trigger.
Fracking, also known as hydraulic fracturing, involves pumping water, chemicals and sand underground at high pressure to fracture shale rock and release trapped oil and gas.
The government said it would not agree to any future fracking “until compelling new evidence is provided” that proves fracking could be safe. The UK’s only active fracking site at Preston New Road in Lancashire was brought to an immediate halt this summer after fracking triggered multiple earth tremors that breached the government’s earthquake limits.
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Andrea Leadsom, the business and energy secretary, said the government has always been clear that shale gas exploration in the UK must be carried out safely.
“After reviewing the OGA’s report into recent seismic activity at Preston New Road, it is clear that we cannot rule out future unacceptable impacts on the local community. For this reason, I have concluded that we should put a moratorium on fracking in England with immediate effect,” she said.
The moratorium marks a major U-turn for the Conservative party and the prime minister Boris Johnson, who once referred to fracking as “glorious news for humanity” and urged the UK to “leave no stone unturned, or unfracked” in pursuit of shale gas.
The government ended its support for the struggling industry less than a week after a damning report from Whitehall’s spending watchdog found its plans to establish fracking across the UK was dragging years behind schedule and had cost the taxpayer at least £32m so far without producing any energy in return.
Rebecca Newsom, the head of politics at Greenpeace UK, said it has “been clear for some time that the government’s big bet on fracking is bust”.
The decision has been welcomed as a “victory for common sense” by green groups and campaigners who have fought for almost a decade against the controversial fossil fuel extraction process.
Craig Bennett, the chief executive of Friends of the Earth, said: “This moratorium is a tremendous victory for communities and the climate. For nearly a decade local people across the country have fought a David and Goliath battle against this powerful industry. We are proud to have been part of that fight.”
Tom Fyans, from CPRE, said the countryside charity would “celebrate alongside the local communities, campaigners and environmentalists who have been campaigning valiantly to stop fracking for many years”.
What is fracking?
“This is a fantastic win for local democracy and everyone who cares about protecting the countryside from climate catastrophe and mass industrialisation,” he said.
Rebecca Long Bailey MP, the shadow business and energy secretary, said the moratorium was a victory for local people and the government owed them an apology. She said: “When the Tory government overruled local democratic decisions to halt fracking, communities did not give up. When fracking protesters went to jail, communities did not give up. And now they have forced the government to U-turn.
“The Tories owe the public an apology, and an explanation of how much public money they wasted while ignoring the science.”
Long-Bailey said the government could yet allow fracking to restart. “The next Labour government will ban fracking – whereas the Tories will only call a temporary halt to it. You can’t trust a word the prime minister says.”
The government revealed its fracking moratium alongside plans for a major review of the UK’s transition to a green economy. The Treasury said it will assess how the UK can make the most of the economic green shoots which are expected to emerge while moving towards a carbon neutral economy by 2050.
Sajid Javid, the chancellor, said the review was a vital next step” in delivering the government’s 2050 climate target while “supporting growth and lancing costs” to avoid “placing unfair burdens on families or businesses”.
“We must all play a part in protecting the planet for future generations,” he added.
The Treasury’s support for a green economy comes after Downing Street shot down claims made by the former chancellor, Philip Hammond, that tackling the climate crisis would cost £1tn and require spending cuts for schools, hospitals and the police force.
In a swift rebuke, No 10 said plans to create a net zero-carbon economy would cost no more than the UK’s existing plans to reduce greenhouse gas emissions.
The interim report will be published in the spring, ahead of a final report in the autumn before the global UN climate talks, which will be hosted Glasgow.
Simon Clarke, the exchequer secretary to the Treasury, said it was “humbling to launch this unprecedented review into how we end the UK’s contribution to climate change”.
“Until recently people said that ‘Net Zero’ was impossible, but this work is a giant step towards making it happen, enabling us to set out a roadmap for an economy that is cleaner, more efficient, and works for everyone, while preserving our planet,” he said.
• This article was corrected on 2 November 2019 to make clear that the government has halted, but not banned fracking as stated in an earlier version, and that the moratorium applies only to England as it is a devolved issue. Scotland, Wales and Northern Ireland already have measures in place against fracking.
Fracking (Shale and Coal Bed Methane)
Dart Energy. …
IGas Energy. …
Cuadrilla Resources. …
Rathlin Energy. …
Third Energy. …
Celtique Energie. …
Limit buy lifted 16.20 pm @ 30.5p…
Gainsborough in response below . ( no mention in Egdons one )
4 November 2019
IGas Energy plc (AIM: IGAS)
(“IGas” or “the Company”)
Response to Government Statement on Fracking
IGas notes that the UK Government has announced a moratorium on fracking in Britain, based on analysis by the Oil and Gas Authority (“OGA”), until new evidence is provided.
The Company’s existing onshore conventional exploration and production business, which has a 2P NPV10 of US$160 million, is not impacted by the Government announcement and production and operating expenditure remains in line with expectations for the full year. Incremental projects recently announced remain on track.
The OGA report has now been published. It is an interim report and IGas will now spend time understanding the detail within the report.
As an onshore operator, it is vital that we have, and must continue to have, a good understanding of the potential environmental impacts and any mitigating actions. Each site and basin can have substantially different geology. The OGA Report summary found that susceptibility to seismicity depends strongly on a location’s specific geology with the mere presence of faulting or the parameters of the injection possibly of less importance.
We will continue to work closely with the relevant regulators to demonstrate that we can operate safely and environmentally responsibly. We have done this to date in our shale business, and across our existing c.100 conventional sites that have been operating safely onshore UK for many decades.
Gas plays a significant role in providing energy to the UK, whether through heating over 80% of peoples’ homes or whether contributing c.50% to electricity generation and we currently import c. 50% of that requirement.
The UK Committee on Climate Change (“CCC”) in its May 2019 report clearly forecast a very significant UK gas demand out to 2050 and beyond - approximately 70 per cent of 2019 gas demand still existing in 2050 in a net zero scenario. Under the CCC’s recommended pathway to net zero CO2, this gas would be used as both a feedstock for making hydrogen and a backup supply for generating electricity, and they have recommended that we use domestically produced gas. Without new supplies of gas it is expected that we will be importing over 80% of our gas requirements by 2050.
As announced, following interpretation of the cores at Springs Road in Nottinghamshire, we know that we have a significant recoverable gas resource in the Gainsborough Trough. Following interpretation of the cores taken across the 500m Shale horizon at Springs Road, we estimate that there is 630 Bcf of gas in place per square mile, and if applied to our entire acreage in the East Midlands, this would equate to 270 Tcf of high quality natural gas. At expected recovery rates, this would equate to satisfying up to 19 years of the UK’s gas demand giving this country both energy security for years to come as well as providing billions of pounds of investment into the East Midlands and the creation of thousands of skilled jobs.
Commenting, Stephen Bowler, Chief Executive Officer said:
"We have confirmed a world-class resource at our site in North Nottinghamshire and remain committed to working with regulators to demonstrate that we can operate safely and environmentally responsibly as we have done for decades.Each site and basin can have substantially different geology and we continue to analyse and understand the data available to us.
The Committee on Climate Change has laid out a path to a zero-carbon future, a path that demonstrates a significant requirement for gas in the long term. We, as a country, need to decide whether we are in control of own our carbon footprint or whether we are reliant on imports. Imports from overseas have a higher carbon footprint, and in some cases, this gas comes from countries with significantly lower environmental and human rights standard. Domestically produced gas would generate skilled jobs and investment into the country whilst upholding some of the highest environmental standards in the world.
Given the learnings from the wells that have been drilled recently by the Industry, not least the well drilled in our acreage at Springs Road, we know that UK Shale has the opportunity to contribute meaningfully to the UK’s energy requirements.
Our existing onshore conventional exploration and production business, which has a 2P NPV10 of US$160 million, is not impacted by the Government announcement and production and operating expenditure remains in line with expectations for the full year."
Looks like i did not log this buy … March 21st 2017.
Share Prophets liked it then… but on a list of ones to go bust January 2016 i posted that list July 2018 above he was correct on a few …wonder if he comments this week.