Share Name Share Symbol Market Type Share ISIN Share Description
I3 Energy LSE:I3E London Ordinary Share GB00BDHXPJ60 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50p -5.00% 28.50p 27.00p 30.00p 30.00p 28.50p 30.00p 14,799 08:00:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 7.32

I3 Energy Share Discussion Threads

Showing 126 to 148 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
22/11/2017
20:30
Because the license the are bidding for is next door to the Liberator field & makes up the total rec reserves of 51mmbls - best reading the CPR for further info Also, if the Blake field is not in production in 2024 & they haven't got sufficient reserves booked, then they will have to cease production. Agin have a look at the CPR hxxps://i3.energy/wp-content/uploads/2017/03/20170725-i3-ENERGY-AIM-ADMISSION-vF.pdf
euclid5
22/11/2017
16:13
Why would you put money to buying a new asset if you already couldnt fund an existing one? Unless you have something arranged or up your sleeve? (A large sleeve)
nametrade
22/11/2017
15:45
Well let's see eh. Remaining 20% of i3 shares are about to be sent out. Advised today. i3 have done what they hoped to by minimising dilution. So far so good. They must of had their reasons for turning down $20m at over 55p. Time will tell.
showme01
22/11/2017
12:46
Euclid. They were able to raise £20m at a price higher than the IPO placing price of 55p but it wasn't enough so they declined it. Graham Heath said in the Manchester presentation that the offer was still on the table. That was a few months ago but I am not concerned. Both he and Neill seem v confident that funding these drills will not be an issue.
i like trees
22/11/2017
12:31
I think the market is pricing in some placing funding news, plus they will require another £25m for the 2nd H Well on Liberator field - plus further capex for the 2nd UK license award in March 2018 - think that's about £25m + £20m to raise - hefty amount Risk carry is will they still be in production after 2024, depends if Blake is economically viable to keep in production after 2024 Or if I3 Energy gets funding to put other closer assets into production - like to 22mmbls plus exploration upside of another 47mmbls - nearly another 70mmbls - then should be viable IMO
euclid5
22/11/2017
12:22
Divmad, Possible that they may be extract more but 3 years at 10,000 bopd is about 200m dollars profit at the current price of oil over 3 years. Not bad for starters when the company market cap is 1/20th of that
i like trees
22/11/2017
12:13
What is the chance that the Liberator reserves can be extended beyond their current level, thereby extending the effective life beyond 3 years at 10000 bopd?
divmad
22/11/2017
12:04
If they win the 2nd asset in 1Q18 then will be surprised if they can't raise funds required via Reserve Debt Lending from cash flows - unless the funders are concerned about the 2024 possible ending if cash from thus development - see pg 83 frm CPR Hence, in GCA’s view, there remains an uncertainty as to whether the FPSO facilities would be available after 2024, although Repsol has indicated its intent to work towards maintaining the vessel in class for as long as is economically justified. This should not be read as implying that production will necessarily cease at end 2024: even if the Bleo Holm is retired at that date, other solutions for continuing production could be considered, including a replacement FPSO of a smaller size. However, it is only in the High case that production from the initial two-well Liberator development on its own would support the cost of an FPSO, so the economic viability of continued production for a significant period beyond 2024 would depend on continued production from Blake and/or from other potential developments in the area that may have been developed by that date. hxxps://i3.energy/wp-content/uploads/2017/03/20170725-i3-ENERGY-AIM-ADMISSION-vF.pdf
euclid5
22/11/2017
11:59
Thanks for the rely I like trees - just found it on the Adm Doc also If they produce 10k bopd that's a net £8m pm after deducting $23 boe costs - so on the positive assuming all goes to plan - 3 months earnings get their $33m / £25m cost for the 2nd H Well
euclid5
22/11/2017
11:58
I like trees, Euclid5, Yes, the licenses being bid for will go a long way to delivering longevity and value. The costs to bring Liberator to production are (relatively speaking) quite small. Cash
cashandcard
22/11/2017
11:56
Below taken from Admission Doc that inc's the CPR so they will need $25m x 2 according to the Admission Doc & latest presentation They have nearly raised the 1st $25m Credit facility but not the other $25m That's what's holding this back they need close to $50m / £38m so raised 50% of the Liberator 1 well drilling only From pg 9 of the presentation they are drilling 2 Horizontal Well's Field will be developed with horizontal wells: • LP1 will have a 4,400 ft horizontal section, drilled from the Blake development centre (DC1) • LP2 will be drilled from a second drill centre (DC2) Costs - pg 86 i3 Energy has provided estimates of the capital and operating expenditure (CAPEX and OPEX) associated with the proposed development. Key items include: US$33 MM to drill each of the horizontal wells (including 24% contingency); 4 Development Plan - pg 83 i3 Energy has proposed a development plan involving the drilling of two horizontal wells, one in Liberator and one in Liberator NE hxxps://i3.energy/wp-content/uploads/2017/03/20170725-i3-ENERGY-AIM-ADMISSION-vF.pdf
euclid5
22/11/2017
11:46
Euclid. Liberator will target 2 drills. First drill I think is pretty much covered and the second can be paid from cashflow from drill one if it can't be funded. Not my assumptions, what Graham Heath said.
i like trees
22/11/2017
11:34
according to table 2 on pg 17 they potentially have 51mmbls net to them in 2 other fields next to the main Liberator 1 field Assume one of them is the one they are bidding for hxxps://i3.energy/wp-content/uploads/2017/03/20170725-i3-ENERGY-AIM-ADMISSION-vF.pdf
euclid5
22/11/2017
11:29
Scotty, The $13m is for the planned work commitments - they have another $33m to fund to get them to first oil for the 2nd asset - agree they have raised the $13m today $25m credit facility to be confirmed in Dec 2017 - assume this covers all costs for Liberator 1
euclid5
22/11/2017
11:21
Cash. I've met both directors separately in Manchester and London presentations. Neill describes the business model as North Sea oil bottom feeders. They are well connected in the North Sea having worked there for many years previously and are looking for near term production assets that larger companies simply don't have time to extract prior to licences expiring due to either larger projects to push through or clearing up and shutting down exhausted projects. The run rate from Liberator at 10,000 bopd is expected to last 3 years. The licence they have bid on in the 30th round is right next to the Liberator field if it is the same one they were excited about when presenting in Manchester shortly after the IPO. This is so under the radar IMO and any shortfall now in cash required is minimal assuming the £25m dollar facility goes through. The Bod put an estimate in costs required to get to first oil at $25-$30m as several million has already been spent in getting to project to where it is now. They told me at the time that debt and JV is the likely route with equity being minimal. Hope this helps.
i like trees
22/11/2017
11:12
How sustainable is 10,000boepd Liberator run rate with the current reserve numbers?. The reality is we need more assets to sustain it and its good to see they recognise this and are acting fast. Cash
cashandcard
22/11/2017
11:12
I read it differently Euclid, more like this; Q4 17 Lib 1....$10M [Funded : Credit facility] 30th Bid $13M [Funded : Investor] Admin....$2M Q118 Lib 1....$20M [15M Funded / $5M TBC] 30th Bid $13M [Required : If Successful] Total ...$58M Where am I going wrong? Assume the only reason we are not much higher in share price is due to both liquidity and also they still I think need >$5M to get liberator to first oil. Either way it is a pretty compelling investment at this level.
scotty666
22/11/2017
11:07
Revenue from Liberator should be $200,000 per day after extraction costs based on 10,000 bopd according to the extraction costs from the BoD in a presentation in London. Only part of this will repay debt, the balance can be used to either secure further debt facilities or pay development costs from cash flow. We get 2 great RNS highlighting that any dilution short to medium term will be minimal, the income is mind blowing yet the market values the company as we stand at a fraction of what it should be even with all the boxes not ticked. Look at the experience of the BoD. They know what they are doing having done it previously.
i like trees
22/11/2017
10:46
"Firstly, the ATR generated will be shared on the basis that an amount equal to 200% of the Investor's invested funds will be paid to the Investor" so thats $13m x 2 = $26m / £20m due to be paid back to the funders! I calculate this 2nd asset if awarded for 22mmbls of $656m / £504m based on Liberator I field 11.7mmbls valued at $328m Seems from their presentation they still require another $33m / £25m to bring them to first oil for the 2nd Licence asset. - therefore $13m is just to cover the work commitment needed only Lastly, ATR generated thereafter will be shared on the basis that 33% will be paid to the investor and 67% will be retained by the Company.
euclid5
22/11/2017
10:02
The $33m is to cover costs for the addidtional licence they are bidding for which requires in advance $13m work commitments - total from above is $46m ($13m + $33m)
euclid5
22/11/2017
07:02
Thanks for the clarification, scotty.
divmad
21/11/2017
23:14
Not for liberator 1 first drill and initial 10,000 boepd no. Read the small print as the full 58M to get FDP approval also considers another license they are bidding on in the 30th round bid(closes today). I guess if they are successful they need to put up a bond of sorts but not 100% sure,those more knowledgeable can assist on that point hopefully.
scotty666
21/11/2017
19:23
Won't they be $33mn short to get to FDP Approval?
divmad
Chat Pages: 6  5  4  3  2  1
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