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I3E I3 Energy Plc

0.45 (4.71%)
Last Updated: 11:42:02
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
I3 Energy Plc I3E London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.45 4.71% 10.00 11:42:02
Open Price Low Price High Price Close Price Previous Close
9.57 9.49 10.00 9.55
more quote information »
Industry Sector

I3 Energy I3E Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 06/12/2023 16:17 by ashkv
What a cracker of a buying opportunity for I3E!!!

Share Price: 9.13
I3E Current Share Price vs 52 Week low of 9.13p on 6 Dec 23: 0.00%
I3E Current Share Price vs 52 Week High of 25.45p on 22 Dec 22: -64.13%
Brent Price: $74.50
AECO Gas Price (Canadian Dollar): 2.30
Shares Outstanding : 1,201,874,464
Market Cap (GBP) : £109,731,139
GBPUSD : 1.26
CADUSD: 0.74
Market Cap (USD) : $138,261,235
Debt (USD) 30 Sep 23: $49,335,800
Cash (USD) 30 Sep 23: $21,775,800
Net Debt (USD) Q3 Update: $27,560,000
Q3 2023 Average Production : 21,156
SEP 2023 Average Production Boepd : 21,380
Guidance 2023 (Updated 29 June 23): 20,500
Decommissioning Provisions HY 2023 Results): $107,058,420
ENTERPRISE VALUE (USD) : $165,821,235
EV/Barrel (Q3 2023 Prod) : $7,838
EV/Barrel (SEP 2023 Average Production Boepd) : $7,756
EV/Barrel (2023 Mid-Guidance) : $8,089
EV/Barrel (Mid Guidance + Decommissioning Costs) : $13,311
2P Resources 31 Dec 22 (2021 YE 154mmboe): 181.5mmboe
Enterprise Value Per Barrel / 2P Resources: $0.91
2023 Present Dividend Yield : 11.24%
Posted at 06/12/2023 03:29 by tonynorstrom1
Its also worth remembering that the previous dividend was set based on forecast cash flows - i.e. based on assumptions of what i3e thought the Oil price would be in the future. i3e have now taken a more conservative approach and are setting dividends based on historical cash flows i.e. based on money already in the bank. Based on the numbers above and WHI's report - there should be no issue with the January dividend.

Please share your numbers and why you are "seriously worried about Q4 results given that we're already more than 2/3 through Q4.
Posted at 24/11/2023 10:22 by fordtin
The abbot - re “Lol, and no one except the trolls would have even envisaged the thought that this was possible, only those that want to use this as a seed of doubt would say such a thing.”

That’s factually incorrect. My comment wasn’t inspired by trolls, it comes from management’s last Q&A when queries about future dividends were buried in caveats. I would feel far more comfortable about my i3e shares if management had committed to a dividend policy without the need to shroud it in doubt.

For example;
Q20: Can you please clarify the dividend policy going forward. Should shareholders prepare themselves for another dividend reduction and the possibility of a further move from quarterly dividends to bi-annual or annual, or no dividend at all?

click link for voice recording of i3e's answer;
Posted at 16/11/2023 12:12 by yellowdog
I have been comparing i3e to PTAL.

i3e are circa 20,000 bopd and PTAL are 14,500 bopd.

Yet EV of PTAL is 3 times that of i3e - £428m v ££155m but i3e produce substantially more. Mkt. Cap 3.5 times more - £458m v £126m.

Further PTAL are in politically unstable South America and have all kinds of shipment/ transport issues while i3e are in stable North America.

Why is i3e so much cheaper? There must be reasons ( Canadian oil is much cheaper? Transport costs are higher? Opex is much higher? )

Could someone please explain the discrepancy.

Thank you.
Posted at 09/11/2023 07:47 by goodday1
TENNYSON #i3e @i3energy "Q3 update showing a return to form" With shares trading at just 12p, i3 is currently trading at less than a third of our Core NAV (of 37p/shr). Furthermore, the company offers a running dividend yield of c.8.5%, covered 2.3x by free cash flow.hTTps:// do not think this has been posted here.Cheers.Gl all
Posted at 25/10/2023 12:59 by ashkv
Insane valuation for I3E with Brent close to $90....

Share Price: 12.34
I3E Current Share Price vs 52 Week low of 11.54 on 24 Aug 23: 6.93%
I3E Current Share Price vs 52 Week High of 26.1p on 4 Nov 2022: -52.72%
Brent Price: $88.25
AECO Gas Price (Canadian Dollar): 2.40
Shares Outstanding : 1,201,874,464
Market Cap (GBP) : £148,311,309
GBPUSD : 1.21
CADUSD: 0.73
Market Cap (USD) : $179,456,684
Debt (USD) Per HY Results for 30 June 23: $49,839,900
Cash (USD) : $15,345,220
Net Debt (USD) $34,494,680
Q2 2023 Average Production : 18,529
July 2023 Average Production Boepd : 22,065
Guidance 2023 (Updated 29 June 23): 20,500
Decommissioning Provisions HY 2023 Results): $102,810,070
ENTERPRISE VALUE (USD) : $213,951,364
EV/Barrel (Q2 2023 Prod) : $11,547
EV/Barrel (July 2023 Average Production Boepd) : $9,696
EV/Barrel (2023 Mid-Guidance) : $10,437
EV/Barrel (Mid Guidance + Decommissioning Costs) : $15,452
2P Resources 31 Dec 22 (2021 YE 154mmboe): 181.5mmboe
Enterprise Value Per Barrel / 2P Resources: $1.18
2023 Present Dividend Yield : 6.93%
Currently Monthly Dividend is 0.0855p per share (Prior to 29 June 23 RNS modulating Monthly Dividend the Dividend was 0.171p per share each motnth)
2022 Dividend Yield: 10.35%
Posted at 25/10/2023 08:28 by tonynorstrom1
Here's another valuation metric. Someone on the CEO BB looked at the flowing barrel metrics for Tamaracks recent buyout of Deltastream. Deltastream is a private Clearwater focused Oil play. Typically most don't make an adjustment for the production mix which you need to do. Here's what I posted:

"One thing to bear in mind is that Deltastream is heavy oil versus i3e which is largely light Oil. Calculating what the average boe sells at (Oil, NGL's & Gas), the numbers are USD 60 / boe (deltasteam) & USD 30 (ITE). So If you take Boonie's calculation above and divide by 2 you come up with a better comparison. Based on this ITE would be valued at CAD 639m USD 313m GBP 382m."

This is in the same ballpark as the earlier reserve based valuations I posted. I think we will move someway towards these valuations over time if i3e execute and regain the lost trust over the dividend cut.

I must say though that the silence from i3e is deafening - some Canadian peers are already starting to publish Q3 updates already - given that i3e have not done much in Q3 and their reports are much more shorter than your typical Canadian updates - you would think it shouldn't take long to knock one out.
Posted at 16/10/2023 10:51 by rockyride
Fordtin - 1 very brief O/T from med on this subject and then I will not comment on DEC again. From their respective 3 year high SP's DEC are at 55% and i3E are at 39%. DEC have massively outstripped i3E on dividend payments and look like they will do so for some time to come. I am big fans of both companies for differing reasons and hold quite large amounts of both. Main issue for me with DEC is the redundant well costs and yes I clearly understand the plan they have in place. Main issue for me with i3E is to see the BOD (predominantly CEO) re-gain credibility after giving a VERY strong indication that dividend was sustainable at low commodity prices only to half the dividend (and pay quarterly) on;y a few months later. However, at the end of the day, I am happy with the risk / reward profiles of both companies over the next 3 to 5 years.
Posted at 02/10/2023 06:02 by rockyride
Bingo2 October 2023i3 Energy plc("i3" or the "Company")3rd Quarter 2023 Dividend Declarationi3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following quarterly dividend.Quarterly Dividendi3 announces its 3rd Quarter 2023 dividend totalling £3.083 million and confirms the following:Dividend: 0.2565 pence/share for the quarterEx-Dividend Date: 12 October 2023Record Date: 13 October 2023Payment date: 27 October 2023Payment to shareholders holding their shares on the TSX will be made in Canadian dollars using the exchange rate from the Bank of England at close on the Dividend announcement date, 2 October 2023.END
Posted at 27/9/2023 15:25 by fordtin
goodday1 - re post 33463, I don't think I'm the one you're accusing of ramping DEC, but I have also rotated some of my i3e into DEC since the i3e dividend debacle.
I bought some i3e back when they dipped below 12p, but sold those this afternoon to buy some more DEC.
I still hold quite a few i3e shares, so obviously have hopes that both companies make a full recovery and move on to new highs, but I'm still struggling to trust i3e management after the 'sustainable divi' faux pas.
The failure to act on the promises of share buy backs, despite the oil price recovery (and presumably disposable income recovery) has hindered any restoration of trust.

At the moment my only complaint about DEC is their half hearted buy backs, despite anmouncing $120 million liquidity yesterday.

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