By Nigel Somerville | Monday 30 January 2017
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.
AIM-listed and over-indebted Igas Energy (IGAS) this morning announced that it is to conduct a mandatory redemption of $2.3 million of its secured bonds after investment in its conventional hydrocarbon assets fell short of the required $15 million last year by the aforesaid $2.3 million. It may seem that this is good news in that the company is being prudent, but I suspect that this is bad news on two fronts.
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