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IGAS - irrational exhuberance, just fracking nonsense

By Nigel Somerville, the Deputy Sheriff of AIM | Monday 8 August 2016


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.


Shares in overindebted AIM-listed Igas Energy (IGAS) have shot out of the traps this morning on news that Theresa May is in favour of fracking and wants to bribe the locals into letting it happen. There is also a technical matter announced last week that Igas underwent a capital reduction which apparently strengthens the balance sheet......if only. The share price reaction has seen the shares race ahead by as much at 47% (30% last seen) but has anything changed? Er....


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