IGas Energy Plc is an independent oil and gas exploration and production company, incorporated and operating in the United Kingdom, with headquarters in London.
With all the furore about to frack or not to frack, I decided to talk a gamble that in the next year or so, the UK may HAVE TO reverse it decision on stopping fracking. If so, this company may be well placed to reap some of that benefit if fracking is allowed. 100% speculative on my part on some very cheap shares.
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Well I’m not known for picking shares that increase by 100% in 1 month, so extremely happy I’ve actually managed to find one.
Only wish I’d bought more.
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Just bought some too! Hoping the upward trend continues
In the past it has been well over a pound a share, it would be nice to get close to that.
I might get a 10 bagger then. Although it could just as easily drop like a stone if the Eco nutters get their way.
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Any news on igas. Price rises steady in a bad market, is igas all about fracking?
I’m currently on a 5 timer here, and it’s still at only about 99% of its ATH.
Yes, it’s mainly about fracking. It currently has about 50 onshore licences in the UK. Just needs the green light from Liz Truss to resume fracking, and not only will shareholders be the winners but so will the nation, when it becomes energy self sufficient once again.
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In that case I’ll keep topping up.
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Great news. Where do we see the share price a year from now?
Obviously these are my thoughts and not investment advice, but if they ever start getting a full scale gas extraction programme up and running, I can see it getting back to the price it was a decade ago which was about a £10+ a share.
However I can also see one of the bigger oil companies taking them over as well.
Either way, in order for shareholders to see big profits we need that gas out of the ground first.
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Well a good start today up 5p
Just a reminder to be careful people. Politicians can and do say all sorts of things during hustings. Many things they say won’t and can’t come into being. In this particular case remember the contenders are speaking to a particular niche of a particular party. Also take into account the prejudices of newspapers and how they present information …. often with a particular agenda in mind.
The U.K. is a democratic country with a checks and balances system. Something doesn‘t happen just because the PM has a particular view or opinion.
As an Investor try to consider alternative scenarios. Know that each has a particular probability of success.
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100% true and Truss is ONLY trying to win hardcore Tories votes to get in the door. She has a history of changing with the wind and she will no doubt again change to the new voting audience which is very different to the membership voting at present.
Don’t have any faith in her but take what she says in hustings with a pinch of salt.
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All said and done it’s still climbing
Still climbing
In the Guardian. Report say Liz Truss gives green light for fracking, licence could be issued as early as next week. Interesting times.
This is former iGas.
Net debt
Nov 23 update: GBP2.6 million
22 Finals: GBP6.1m
21 Finals: GBP12.2m
They’re paying debt down aggressively. Around £6m per yr and accelerating … they stated on investor meet company before xmas they expect pay debt off by June 24.
You don’t pay debt down with losses, at that point it’s going to generate a lot of free cash flow,
Read November report. They’re doing over 2000 boepd, and it’s sat here at £10m market cap.
Only because the last of Sandgroves holding had been dropped into market- but they’re near clear.
UJO is £20m m/c on a fraction of this revenue, 600 bopd.
PXEN is also double this cap on a fraction of revenue.
This will be cheap when they’re throwing off £6m free cash per year at this cap. Imo
This net debt was £6.1m in 22 finals. When it’s gone this year it’s gone
2090 bopd. £10m cap. Do the maths., plus geothermal drill results due from Croatia
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The Company remains on track to deliver its full year production target, expected to be c. 2,090 boepd. Uptime across the portfolio has remained strong with good results from workovers at Singleton and a rolling programme of well optimisation and stimulation that has yielded additional production equal to c. 50 boepd over this year.
Cash balances as at 30 November 2023 were GBP2.9 million with net debt of GBP2.6 million.