UK 17:13 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Sorry for late filing, a combination of Greek telecoms and several calls on the dynamite story referred to in the podcast. Today I cover Coms, Quindell, Gulf Keystone, AO World, Ithaca, Driver and the dog Sareum.
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Comments
dasv
the answer to your trivial pursuit question is Quindell.
KevinRTaylor
Tom, Re the GKP bonds there should be a prospectus somewhere that will be in the public domain. Find that and you’ll know the covenants.
JSB
Tom,
IAE is the next big oiler to go tits up, as you point out debt is massive for a company producing only 12000 bopd, makes AFR look a poster boy for risk management.
The damage today was down to the fact that GSA was supposed to save them by adding 16000 bopd in Q3.
The debt is now unserviceable.
It also appears to have gone unnoticed that TRAP relinquished their 15% in the Athena field, one of IAEs producing assets, as it was uneconomical at $58 oil, losing them around £380k per month.
Their only saving grace is the 6000 bopd hedged at over $100 through 2016, but even with this, without the GSA production they are fucked
Short