Lemming99

 Here are some articles and summary pages about IOG to muse over Energy Voice article - 25 Jan 2022 Broadly similar to RNS of same day. Perenco terminal operator at Bacton AJ Bell 10 great stocks - 23 Dec 2021  tipped at 30.8p turn to page 22 Energy Voice article 22 Nov 2021 Taking the Noble Hans Deul jack-up rig to hospital in Dundee to fix leg Offshore Engineer - renaming UK North Sea Project - 26 Aug 2021 Bloomberg short summary Says we have 22 employees thought it was more like 50 Telegraph longer summary with some 2019 news Looks like Harvey wasn't commercial You could have bought shares for 15p Target back in 2019 was 41p (Peel Hunt) Scroll down for BS and P&L for 2018,2019 and 2020 Malcy's Blog - IOG coverage Looks like Malcy has talked about IOG dozens of times over the years I think I'll listen to some of these Shares Magazine list of historic volume daily FT summary page Has some links to recent articles Shows 523.76m shares outstanding. I was looking for the ...

Looking at three of IOG's fields and further to some analysis of the shareholders and brief history I thought I'd run some of the numbers as we have Blythe and Elgood producing first gas hopefully in early March. Here are a few bullet points summarising each field (sourced primarily from corporate presentation 15th Dec ) Blythe  platform successfully installed in Q2 -'21 Max gas rate of 45.5 mmscf/d in Q3 -'21 First gas expected a week after back gas Elgood  Max gas rate of 57.8 mmscf/d in Q3 - '21 First gas expected a week after back gas Southwark platform successfully installed in Q2 -'21 development drilling started Q4 -'21 Noble Hans Deul rig suspended drilling due to seabed conditions Optimal plan is to resume drilling 25th Feb to 12th Mar (4-6 wks from Operational update 25 Jan) Phase 1 capex Field Development plan £305.5m Overspend 20% to 25% once Southwark completed 20% overspend would be FDP capex of £366.6m (extra £61.1m) 25% overspend would be F...

 As a relatively recent investor in IOG, I thought I would write up some of my research whilst waiting for that update about first gas. From the website "IOG is focussed on the Southern North Sea (SNS) with a fully-funded Saturn Banks Project consisting of a 50% operated stake in six proven gas discoveries plus the Saturn Banks Pipeline and onshore Saturn Banks Reception Facilities at the Bacton Gas Terminal." Bacton is in Norfolk and we own both the facilities there and a concrete pipeline to get there. We farmed out most of the other 50% to an Australian firm called CalEnergy in 2019 according to this article . They paid £40m upfront and will pay up to £125m in development costs. At the same time we launched a bond to raise aprox £70m. At the end of Feb 2020 as the first incling of the potential for a pandemic arose CalEnergy declined to spend a further £20m buying half of our stake in the Harvey and Redwell licences according to this article . At this point, the price per ...