Independent Oil & Gas

IOG: 17.00 0.00 (0.00%)

Delayed:2018-02-21 17:07:21
Bid Price 16.75 High Price 0.00
Ask Price 17.25 Low Price 0.00
Open Price 0.00 Spread 2.94%
Prev Close 17.00 Volume 0.00

Independent Oil & Gas Share Price Chart


Historic - 1 year

Independent Oil & Gas Share Price Information

Name Independent Oil & Gas Epic IOG
Sector Oil & Gas Producers ISIN GB00BF49WF64
Activites Independent Oil & Gas plc owns substantial low risk, high value gas Reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio via an efficient hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All of IOG's licences are owned 100% and operated by IOG. Security Type Equity

Key numbers

Latest Share Price (p) 0.00 Net Gearing (%) 129.18
Market Cap (£m) 19.84 Gross Gearing (%) 130.96
Shares in issue (m) 120.21 Debt Ratio 206.67
P/E Ratio -0.71 Debt-to-Equity Ratio 0.46
Divs per share (p) 0.00 Assets / Equity Ratio -3.23
Dividend Yield (%) 0.00 Price to book value -4.61
Dividend Cover 0.00 SROCE (%) -532.01
Earning per share (p) -23.20 EPS Growth (%) -413.51
52-week high / low (p) 33.00 / 12.25 DPS Growth (%)

Independent Oil & Gas Broker Views

Date Broker Rec. Price Old target price New target price Notes
21 Feb VSA Capital Buy 17.00 Reiterates
21 Feb finnCap Corporate 17.00 123.00 Reiterates
01 Feb VSA Capital Buy 17.00 Reiterates
21 Dec VSA Capital Buy 17.00 Reiterates
21 Dec finnCap Corporate 17.00 123.00 123.00 Reiterates

Independent Oil & Gas Director Deals

Independent Oil & Gas Company News

Independent Oil & Gas signs new convertible loan facility

Independent Oil and Gas said it had signed a £10m convertible loan facility with existing lender London Oil and Gas.

The facility was convertible into ordinary shares in the company at a conversion price of 19p, a 15% premium to their closing price on 20 February.

Loans drawn down under the facility carried a coupon of Libor plus 9%.

At 1:39pm: (LON:IOG) Independent Oil Gas PLC share price was +0.38p at 16.88p

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IOG concludes talks with Skipper well creditors

Independent Oil and Gas said discussions with the creditors for the remaining liabilities relating to the 2016 Skipper well had concluded.

A total of £6.78m was due to be settled by 20 Dec and £4.47m had been deferred with final payments due either by the end of August 2018 or field development plan approval for the company's SNS developments, whichever occurred first.

Interest will accrue at LIBOR + 9% and the company may repay early without penalty.

It said £1.87m of the total due had been converted into new ordinary shares in IOG at 19p apiece and the remaining cash element of the settlement would be paid from existing facilities.

Chief executive and interim chairman Mark Routh said: 'The Company is pleased to have successfully concluded creditor discussions and is very appreciative of the support from the service sector both in enabling the drilling of the Skipper appraisal well in August 2016 and in terms of extending deferrals or equity conversion.

'This resolution enables us to maintain a firm focus on our ongoing Southern North Sea development contracting and funding processes.

'We look forward to securing Field Development Plan approvals in 2018 to keep us on track for significant gas production in 2019.

'We are grateful for the continued support from our financial backers London Oil & Gas in providing the funds from existing facilities to manage these historic debts.'

At 9:48am: (LON:IOG) Independent Oil Gas PLC share price was +0.25p at 18p

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IOG's Blythe licence extended

Independent Oil and Gas's licence P1736 that contains the Blythe gas discovery has been extended by 12 months to the end of December 2018.

IOG said the Blythe gas field contained 33bn cu ft of 2P reserves and was an important part of the combined Blythe and Vulcan Satellites hub developments.

It said the field development plan for Blythe was initially submitted in December 2016 and re-submitted in July as part of a joint development plan with IOG's nearby Elgood discovery.

It said first gas was expected from the Blythe hub in the middle of 2019.

It said: 'The licence extension is contingent upon a number of milestones agreed with the Oil and Gas Authority culminating in the submission of a final FDP that is capable of approval without further clarification, amendment or submissions by 31st August 2018.'

At 9:40am: (LON:IOG) Independent Oil Gas PLC share price was 0p at 18p

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IOG granted two-year Harvey extension

Independent Oil and Gas has been granted a two year extension by the Oil & Gas Authority to the initial term for licence P2085 that includes Harvey.

The licence will be extended to 20 Dec 2019.

IOG has made a firm commitment to drill a well on the Harvey structure, commencing by 20 Sep 2019 with the rig contract to be in place by 20 Nov 2018.

At 8:48am: (LON:IOG) Independent Oil Gas PLC share price was 0p at 20p

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IOG delighted with CPR for Harvey licence

Independent Oil and Gas is delighted with a recent competent person's report for the Harvey licence.

It said the report by ERC Equipoise Limited estimated dry hole costs of the planned Harvey well at £8.5m, versus a licence expected monetary value of £79m.

IOG said it saw compelling case for drilling Harvey and was actively considering the timing.

Chief executive and interim chairman Mark Routh said: 'We are delighted with the result of the CPR and the EMV of the Harvey structure on our licence being determined at £79m.

'This clearly validates our commitment to drill the well on what has the potential to become our largest gas asset.

'The value of Harvey is strengthened by the synergies with our Southern North Sea gas development hubs, notably shared use of a fully owned Thames Pipeline gas export route.

'Alongside these two hubs, the Harvey appraisal opportunity therefore represents very material upside to IOG even on the mid case volumes.

'We are therefore actively considering how soon we can drill the well.

'We look forward to updating all stakeholders in due course.'

At 8:23am: (LON:IOG) Independent Oil Gas PLC share price was +1.13p at 21.63p

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