IGas piggy Andrew Austin at the trough and worse, far worse

It is hat-tip time once again to Jason. He’s understandably a bit miffed  - he feels that Dart Shareholders were not given full disclosure of the true picture with IGas (IGAS) ahead of the recommended takeover of Dart in relation to the shareholding of IGas CEO Andrew Austin. He thought that Mr Austin actually HELD almost 11m shares in the company offering its own paper to buy Dart, but it seems that in fact he held fewer than 3,500,000 shares, with the rest in the form of an option. I would feel the same in his shoes. And so I thought it time to get to the truth about Mr Austin’s director interests and director holdings.

BearCast from Tom Winnifrith - why IGAS is a screaming short & the shale bubble

There are three reasons why IGAS (IGAS) shares are a screaming short at 56p. One is that the shale bubble is set to burst. Greed will turn to revulsion and any company that has used the word shale in release after release to ramp its shares in the good times will now suffer the backlash. The second is Andrew Austin, the CEO. He is still not telling the truth, the whole truth and nothing but the truth on his Equities First Holdings LLC dodgy share trades. That makes the stock uninvestable until he fesses up and quits. It is only a matter of time. The third...

IGas CEO – “the share price is depressing me” – is that because a margin call looms?

On 4 November IGas (IGAS) Ceo Andrew Austin gave a telephone interview to Proactive  Investors. You can watch that video HERE .  You know the form: IGAS pays Proactive a fee and it asks really soft questions and pretends that it is objective journalism.  In it, when asked about the share price performance, he said ‘it is depressing me’. I wonder if he had forgotten to take his dose of Prozac that day. Or was it more to do with his sale and repurchase ‘loan’ deal with Equities First Holdings LLC?

IGAS, Jefferies (Nomad), Andrew Austin (CEO), Board of Directors: SHAME ON YOU! You should all go now.

I read with utter horror Wednesday’s RNS regarding Mr Austin’s Equities First Holdings LLC (EFH) ‘loan’ deal which, ahem, clarified that the previous clarification that the original RNS was all correct was in fact (cough, splutter) unclear. It was wrong. It was misleading. What a total shambles! How any CEO could survive this - and what follows - is beyond me. Gallows at the ready, then.

Outrageous IGas RNS obliterates Andrew Austin’s credibility & career

How stupid does the board of IGas Energy (IGAS) think its shareholders are? This is an interesting question to reflect on this afternoon, after the company released this morning’s disgraceful RNS in pitiful defence of CEO Andrew Austin’s “Sale & Repurchase” agreement with Equities First Holdings LLC. Despite all the evidence to the contrary, IGAS is still desperately trying to portray this arrangement as a bona fide loan. This is madness. It is lying to its shareholders and the statement - coming after fairly dismal interims earlier - is a disgrace. Austin should be sacked at once.

IGAS (#IGAS) H1 profits collapse, still drowning in debt, no mention of CEOs dodgy share trades

IGAs & Total – is this why the company and hapless Nomad Jeffries won’t fess up?

In yesterday’s piece HERE   I discussed IGAS and its takeover of Aussie-listed Dart Energy with regard to disclosures not given to Dart’s shareholders about IGAS CEO Andrew Austin’s EFH ‘loan’ deal as announced by RNS on 16 Jan 2014, which had stated that Mr Austin had transferred shares in the company to Equities First Holdings as security for a loan. All the other companies caught up in the EFH scandal have clarified that the deal did involve the handing over of title and voting rights to EFH (i.e. they were disposals) albeit the ‘loan’ deal contains an option to buy the shares back. But IGAS and its Nomad still refuse to concede that Mr Austin’s deal was the same. So now we come to the farm-out deal with Total and its implications, the potential ugliness of which might finally get a full disclosure of the EFH deal out of IGAS and its ostrich of a Nomad.

IGas takeover of Dart Energy – is this why the company and hapless Nomad Jeffries are refusing to “clarify” the deal with Equities First?

In January 2014, IGAS (IGAS) announced that its CEO had transferred shares in the company to Equities Frist Holdings LLC as security for a loan. We have asked several times for clarification on this because the EFH contracts we have seen all show that the transfer is of title and voting rights.

Crook Rob Terry walks from EFH deal on margin call – what about the others, especially IGAS?

Today it was announced that the liar, insider dealer and fraudster Rob Terry was stepping down from Quindell (QPP). But he also announced that:

IGAS (#IGAS) Bad news it has not bothered to announce - The Salford Star

The Exceptionalism of iGas, and the lessons of Morris v Equities First, LLC

Forget today’s news that a well has been spudded in some grim Northern welfare addicted hell hole. Let’s deal with the real issue here. On Friday 14^th November iGas released a terse announcement: “IGas Energy notes the recent movement in its share price and confirms the detail contained in the statement on 16 January, in respect of Andrew Austin's facility with Energy First Partners LLP, is full and correct disclosure for the purposes of the AIM and Disclosure and Transparency Rules.” But it was not.

IGAS (#IGAS) spuds well near welfare central (Liverpool). Big deal. Now what about the dodgy share trades?

IGAS needs to Clarify its Clarification on CEO Director share trades – a total farce

IGAS (IGAS) has today tried to clarify share trades made by its CEO Andrew Austen. It has failed abysmally and now needs to clarify its clarification. This is a farce and the advisers - the lamentable Jefferies – should be walking the plank right now.

IGas. How about an explanation?

If I were an IGas  (IGAS) shareholder, I would be more than a little miffed. While the truth is being slowly extracted like a painful tooth from NOMADs  Cenkos (Quindell} and Westhouse (Cloudbuy) over their clients’ dealings with Equity First Holdings LLC (EFH), Jefferies maintains a deafening and belligerent silence.

The Quindell Equity First Scandal – will IGas be the first Domino to topple?

Quenron (QPP) is not the first company to do business with Equity First Holdings LLC – step forward IGAS Energy (IGAS) which for reasons I shall explain below may well be the first domino to topple in what is brewing up as a mammoth scandal. 

IGas Energy (IGAS): The Hype Is Right

The last call on IGas Energy suggested that while above 95p, the shares should go towards the £1.60 level. As it turned out the low since that call has been 96p, which is either luck or skill depending on your perspective.

IGas Energy (IGAS): Technical Target Towards 160p While 95p Holds

Shock, horror we have a down day for IGas Energy shares. The question now is whether after all the media hype, which has been almost universally favourable, the shale Gold Rush play can live up to expectations? From a technical perspective it would appear that it can, after an appropriate period of cooling off and consolidation.

IBuy IGas Energy (IGAS): Frolicks With Fracking

As someone who is realistic about how doomed the environment is, and who would like to see Global Warming take us back towards the levels of the Holocene Climate Optimum, I have no fear of fracking.

Buy Igas Energy (IGAS): 50% Off The Top

It may just be me, but it would appear that much of the battle with AIM stock heroes such as Igas is trying to work out when it is safe to go back into a speculative situation.

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