Web Site : http://www.indagopetroleum.com

Asset Summary:

Oman Block 31 (50% Indago, 50% RAK Petroleum)
Jebel Hafit: The target is estimated at 1 billion boe RECOVERABLE on the Omani side (with another 1 billion boe on the Abu Dhabi side).

Oman Block 31 (50% Indago, 50% RAK Petroleum)
Jebel Wa'bah. The technical evaluation is ongoing with new seismic having been obtained during the past year.

Oman Block 47 (50% Indago, 50% RAK Petroleum)
Adam prospect . The estimated target is 140 million boe RECOVERABLE

Oman Block 47 (50% Indago, 50% RAK Petroleum)
Izz prospect (Hawamel well drilled end 2006 with gas interpreted as being in place, but in a tight formation. IPL are contemplating a horizontal section to produce the well at a later date). The target is estimated at 60 million boe RECOVERABLE.

Oman Block 47 (50% Indago, 50% RAK Petroleum)
Dham, Sadood, Kabshat. In 2007 the acquisition of 362 km of 2D seismic in Block 47 was completed. This survey was focused on the Dham, Sadood and Kabshat leads. The technical evaluation is in progress and may result in the promotion of one or more of these leads to drillable status.

Oman Block 43a (50% Indago, 50% RAK Petroleum)
A seismic acquisition campaign was concluded during 2007. This encompassed the acquisition of 225 km of 2D seismic in the Block, including over the Kahal lead.



Thread started 23/10/2008 @ 11p

At last IPL is getting some credit for being cash rich. Even so, at 28p these are still at a substantial discount to cash/share of c50p/share. I doubt that IPL will be using this cash to re-drill the existing prospects without a de-risking exercise via a JV dilution when that is possible, and also have more than likely fulfilled their licence obligations with what they have spent to date. My view is that there is room for a re-rating to higher levels when their results are published shortly.

Sharesure that would be correct IMO.

Somewhere in the 60's would be more appropriate to make this an "undervalued share"........not a share at a crazy low price it is now.

While i agree with 60p being not unreasinable,mediumr term. Experiencing the mm's tactic's(fep)they'll offer maybe 40pish 1st off,drop it to around 35p knowing
theirs a lot of "T" traders who'll have to make the decision,to buy or not to buy. As most just trade they will be happy with a 40% profit, the result is they get them cheap? aimho of course. Can't blame them just a the way the market functions,
the patient at the expense of the impatient.
cyril
ps. I will be happy with 35/40p for some (not all) my holdings thus a free ride long term as this could be a muti-bagger given time?

Here's my reason why i will hold some L/Term,

50p per share cash plus....


Production/Reserves/Assets

Oman Block 31 (50%) RAK (50% Operator) 257mmboe unrisked net

Oman Block 47 (50%) RAK (50% Operator) 57mmboe unrisked net

Oman Block 43a (50%) RAK (50% Operator)

cyril

Final results must be due soon?

No indication as yet, although last years were held on the 10th April. Surprised by tick down, impatient holders perhaps with plenty of opportunites about, they may want to move on? Hawk is similar inso much as expected news this month. part sale of its jolly licence and beginning to move. I'm holding on myself, looking for 40p+ at least and a few tucked away (hopefully) from profits?
cyril

Just checked the trades 560,000 bought against 78,000 sold,it was marked down
then buys coming in the last 8 mins. Final trade 200,000@28.83p, news tomorrow maybe?
cyril

Nice :) I knew I can count on this one :) long time was waiting but finally it is paying back:) Anyone had a chance to see Aminex presentation??

no news- bad news??

can't understand this one---if they are getting an insurance payment rumoured to be already banked and worth double the market cap---why aren't they shooting up?? a disappointing inv so far.

sorry double post.

Patience, patience. Remember from the impatient to the patient.
cyril

Money's in and ipl moving slightly north,
INDAGO PETROLEUM LIMITED

Insurance Monies Received
Indago Petroleum Limited ('the Company') is pleased to announce that the insurance settlement monies referred to in its announcement dated 23 February 2009 have been received in full.
As a result, the Company now has cash balances in the region of $38 million.

So 50p in cash add buy at 29p?
Their imo is a quick killing, but quick is word.
cyril

I find it quite funny that investors are offloading at 29p, as i stated before
here's the reason why i shall not be selling at such a misrable offer.

We have roughly 47/50p per share in ($38m) cash plus assets of.

Oman Block 31 (50%) RAK (50% Operator) 257mmboe unrisked net

Oman Block 47 (50%) RAK (50% Operator) 57mmboe unrisked net

Oman Block 43a (50%) RAK (50% Operator)

cyril

I would imagine it will go up as soon after sale at 29p will finished.

Looking at the trades this am, roughly 412,000/421,000 buys to sells. So many
of the weak traders out and others happy to take them off the mm's hands,i
believe the next day or 2 we will see a more realistic SP, possibly 40p?
aimho
cyril

But the market is so crazy this days that nothing is guaranteed :) But we shall see

IPL need to get some decent terms to convert their current prospects into carried interests - then the cash in the bank is exactly that. At the moment there are still drilling commitments for which a proportion of that cash is required. However, I agree that those that are selling now need to get some better advice since it will prove stupid to have got out now when reflected upon in about 3-6 months

On it's way cyril, 30.5p