I3 Energy Share Discussion Threads

[scotty666] 27/6/2018 08:02

Good news and moving forward.

[hpotter] 27/6/2018 07:57

Funding of Liberator Development and Appraisal of Liberator West.
Presumably the cash Liberator will throw off once in production will fund development of Liberator West.

[caters] 27/6/2018 07:56

So when did the 90 day period of exclusivity start? I don't think it was yesterday ;-)

[showme01] 27/6/2018 07:48

Gearing the funding correctly to fully exploit Liberator is key to a huge re rate here. Looks like it is all coming together.

[coscos] 27/6/2018 07:34

Great news, things are getting serious at last. We now have a definite timeframe.

[caters] 27/6/2018 07:25

That will do nicely.

[someuwin] 27/6/2018 07:20

Excellent news!

[stamford hill] 27/6/2018 07:11

Get in. Progress at last. I can wait another 90 days, no problem..

[begorrah88] 27/6/2018 07:07

This line probably sums it up

'The entry by i3 into a period of exclusivity with a potential farm-in partner for the Liberator Licences is a key step on our path to securing the funding....'

[begorrah88] 27/6/2018 07:06

RNS

Looks like it probably is Rockrose then as they have issued a statement saying they are sharing their report soon etc

A tad vague once again from i3e but an update at least

Another 90 days

[che7win] 26/6/2018 19:36

Oil rocketing!

[coscos] 26/6/2018 12:51

I think most holders including myself were expecting that funding news would arrive before AGM. Sadly that's looking unlikely. For talks that have been at an 'advanced stage' since January, they sure are taking their time. I continue to hold with great optimism, however I doubt the market will let them rest on their laurels for too long if they don't get a deal penned soon.

[begorrah88] 26/6/2018 12:43

I see the 2500/5000 seller is back againOddly seems more intent on taking the bid down that actually offloading shares

[ducati2345] 26/6/2018 12:28

Ah ok cheers show

[cashandcard] 26/6/2018 12:27

showme01,


Cheers, leaves that possibility out.



Cash

[chopsy] 26/6/2018 12:27

Suddenly I feel much more relaxed. Now I read again the "multiple" payback, and I understand, that the multiple could be e.g. 1.15, i.e. e.g. 15%, it does not necessarily imply an integral multiple, is, twice, thrice etc. It would make much more sense.

[showme01] 26/6/2018 12:17

The roadshow was to educate and re educate funds on the prospects of i3e. They were not looking for finance or funding. I have had that confirmed by email.

[cashandcard] 26/6/2018 11:30

ducati,


Very much agree with you, I doubt it'll be this week. I think RRE was one of the parties in contention, I doubt that now as they have committed a lot of money in their own projects. I do however see the possibility of a financed deal to takeover Repsols stake depending on how bad Repsol want out of Blake, with agreement to pay Repsol a multiple of credit finance offered.

But the most likely scenario for me is supply and service providers credit finance for the funding, as alluded to in 31st Jan RNS 'Industrial parties'.

The rounds in the city? if there is a very small element of equity required as part of a much bigger funding deal, maybe that's why. But that's pure speculation on my part.


Cash

[begorrah88] 26/6/2018 10:28

To prep the city for the opportunity coming?

Make sure they are primed for when news drops?

[ducati2345] 26/6/2018 10:24

I don't know whether to be lifted by your optimism showme or disappointed. I really don't think funding will be announced at AGM, but on other hand I am 100% sure it will come soon I think you will glean more in pub from them than AGM. The rockrose repsol tie up makes sense except that if that was case why bother with that roadshow.

[mr. t] 26/6/2018 10:21

Adding fuel to the Rock Rose speculation fire:

On 16 March RRE said they'd commissioned two reports, which were of interest to I3e and Liberator:

- ERC Equipoise to evaluate both the existing upside potential within the Blake field (30.82%) and, the nearby Tain satellite discovery (50%), with a view to inform FID on Tain development.

- Crondall Energy to review the FPSO options on the Blake & Ross field. The scope is in two parts; looking at replacing the current vessel or extending the life of the Bleo Holm vessel which is operated by Repsol Sinopec, the company's joint venture partner, with the vessel currently targeted to be on station until 2024. This is being undertaken to extend the life of the fields and give the opportunity to fully deliver other discovered hydrocarbons in the area.
In the RNS, RRE also said "We have commissioned independent reports to be able to make informed financial decisions regarding further development/redevelopment opportunities. The results of these reports will be available in the next couple of months.

A couple of months from 16 March took us to 16 May, one week before the OGA 30th round award announcement for Liberator West. We've not heard anything from RRE since that date. If the reports were purely about developing Tain and/or extending the life of Bleo Holm then maybe we would have heard from RRE. However, if RRE wanted to negotiate JV deals with I3 energy and/or Repsol then it would make sense for them to keep the results of the reports close to their chest until a deal is struck.

I could be barking up the wrong tree (and in the wrong forest), but with Rock Rose's AGM tomorrow and i3 Energy's AGM on Thursday, it's possible we could hear of a deal between the companies this week.

[scotty666] 26/6/2018 09:55

Volumes low and sharp movements in both directions - jumpy ahead of inevitable funding news.

[showme01] 26/6/2018 09:53

Not much available stock. Perfect if we get funding news this week.

[chopsy] 26/6/2018 09:42

Maybe it's after the news that the seller has finished selling.