I3 Energy Share Discussion Threads

[coscos] 26/6/2018 09:19

Interesting move so far today, usually a leaky ship here before news.

[begorrah88] 26/6/2018 09:08

Ineed he has and lets hope he keeps it on all day

Makes the day sunnier

[caters] 26/6/2018 08:57

*have enough shares

[caters] 26/6/2018 08:55

So Paternoster is unlikely to be the only seller as it doesn't have shares to start with.However, a brighter start this morning and Mr 5k has got his hat on.

[calder27] 26/6/2018 08:52

Just saw someone comment on the lack of major shareholding notification from Paternoster, so thought I'd point out that they'd need to commit almost all of their investment towards I3E to require a TR1.

[fardels bear] 26/6/2018 08:43

Mine's barely 0.1 percent. But I'm sure you weren't being rude.

[calder27] 26/6/2018 08:22

Paternoster are pretty small-fry, their entire market cap is barely 3% of i3.

[begorrah88] 26/6/2018 07:36

Glenwick plc
The principal asset of Glenwick plc ("Glenwick") comprised £1.1 million of pre-IPO convertible loan
notes in i3 Energy Limited ("i3"). i3 has now completed its IPO, the convertible loan note has been
converted and the majority of these shares in i3 have been passed through to the shareholders of
Glenwick, which includes Paternoster. The investment made in connection with the listing of Cora Gold
("Cora") is expected to be exchanged for new shares in Cora which will then also be distributed to
shareholders once Cora becomes listed later in 2017.

[begorrah88] 26/6/2018 07:33

They said similar in their March Q1 update as well

'During Q1, the company has raised additional funds and also announced that it was in advanced discussions with various possible partners regarding a potential joint venture relating to its 100% owned Liberator Oil Field and its 30th Offshore Licencing Round application. I3 Energy’s share price has increased significantly in Q1 2018, reaching a peak of 80.5 pence in March 2018, an increase of some 350%. Paternoster has realised some significant gains on this investment.'

Also at the end of 2017

'During 2017, the Company's investment in Glenwick translated into holdings in I3 Energy plc and Cora Gold plc and the share prices of both of these companies struggled towards the end of 2017. However, since the year end, the I3 Energy plc share price has increased by around 300%. Paternoster has realised some significant profits from this investment whilst still retaining a meaningful shareholding.'

So not sure how many they had or still have?

Can't find any record of significant holding

[zengas] 26/6/2018 07:27

From Paternoster this am re selling

I3 ENERGY PLC

I3 Energy Limited ("I3 Energy") owns a 100% operated interest in the Liberator field, an oil discovery situated within Block 13/23d of the North Sea, immediately adjacent to the Blake field and situated 2 kilometres from Blake's producing drill centre. The company was introduced to AIM in July 2017.During Q1 2018, the company raised additional funds and also announced that it was in advanced discussions with various possible partners regarding a potential joint venture relating to its 100% owned Liberator Oil Field and its 30th Offshore Licencing Round application. In May 2018, it announced that it had been awarded its sole 30th Offshore Licensing Round application target, Block 13/23c 123 km2, on a 100% Interest basis.

Since the year end, I3 Energy's share price has increased by around 300%. Paternoster has realised some significant gains on this investment.

[mr. t] 26/6/2018 03:43

Uk north sea investment - shell has taken FID on the 12,400 boe/d fram field.hTTps://www.energyvoice.com/oilandgas/north-sea/175133/breaking-shell-to-invest-in-north-sea-fram-field/More and more are seeing value in the UK north sea - good news for i3e.

[craffert] 25/6/2018 22:59

If ever there was an example of the stock market being a place for transfer of wealth from the impatient to the patient, this is it, at the moment!

I believe Neil Carson was reported as saying that they are so conservative in their thinking that they want ie3 to become an oil manufacturing company (rather than E&P)

NC and GH have 6,500,000 reasons each to get the optimum financing deal done.

I can wait while others are getting the jitters and I will be adding if anything generous like sub £1 comes along.

[chopsy] 25/6/2018 16:56

hur fpso refit alone cost over $300m. I was amazed at that. Not sure if that includes say his fees for a period.

[cashandcard] 25/6/2018 15:53

Caters,

I had a large position in HUR back in early 2016 when they did the big raise that kicked off activity in the greater Lancaster area. They had been talking about a financing deal for well over a year before one actually came.

I doubt I3E will take that long. I reckon we will wait a duration of time measured in months, possibly weeks to get a deal here.



Cash

[begorrah88] 25/6/2018 15:53

This from a press report 17/3/18

'London-headquartered RockRose is paying Crondall Energy to assess the Bleo Holm floating production, storage and offloading (FPSO) vessel, which serves the Blake and Ross fields in the outer Moray Firth.

The assessment could recommend the replacement of the FPSO. It could also propose extending the life of Bleo Holm, which is operated by Repsol Sinopec Resources UK.

A spokesman for RockRose said the work was being undertaken to “extend the life of the fields and give the opportunity to fully deliver other discovered hydrocarbons in the area”.

The study is likely to be of interest to i3 Energy, which has been exploring whether its Liberator field can be tied back to the FPSO.'

[cashandcard] 25/6/2018 15:49

Well, as some on here are going to attend the AGM and the afterparty, sorry, pub meeting - make sure you ply them good and get them to talk.



Cash

[caters] 25/6/2018 15:49

I probably do re NC & GH.

Personally, I'm getting a bit fed up with the wait but I know that these deals can take a while.

The market must think a deal is going to get done otherwise the share price would be way down. Clearly, some investors are getting a bit fed up so the price has eased off a bit, but it's still way up on where it was six months' ago.

[begorrah88] 25/6/2018 15:42

CashIt wouldn't surprise me if some senior funders were backing RRE

[begorrah88] 25/6/2018 15:41

I think you flatter NC & GHTheir priority is to get a deal away and if this has been the planned deal for the last 5 months and a run on the i3e share price could potentially jeopardise the deal then I don't think they would give a monkeys cuss about the short term share price if it was a route to the intended returns they expectAs I say, all just tosh and trying to kill some time as we seem to be awash with it.

[cashandcard] 25/6/2018 15:39

Interesting line of thought, but I doubt it'll be RRE after their last debt-backed acquisition. Industrial parties to me means supply and service providers willing to provide credit and taking equity in the assets.


Cash

[caters] 25/6/2018 15:32

If NC & GH had the tiniest suspicion that RockRose were doing this, I thing the deal would crumble .... unless, of course, that's the only deal available.

edit: judging by the low trading volumes, most PIs are just biding their time.

[corgies2] 25/6/2018 10:17

ducati....does the £5o million cover the 2 initial drills [ appraisal & dev ].If anywhere near that number ,it is a big change from the £200 million usually quoted [ i assume for more than the 2 initial drills ]. Could be a big temptation as I guess it would rule out any surrender of equity.
ANY THOUGHTS ?