I3 Energy Share Discussion Threads

[tournesol] 11/10/2022 11:07

Fictitious

AIUI the original discovery well can be translated into a small development with oil extracted via a tie back to an FPSO at Tain. However that will not be feasible for several years and is dependent on collaboration/co-operation with Sinopec the Tain operator. So if it does ever go ahead it won't make any impact for years. And even then it will only have a small impact.

It remains possible that the resources already found at Serenity could be increased somewhat by further appraisal. However that would have a much poorer risk/reward balance than we all thought was the case with the recent failed appraisal. So it would be a hard sell for a very modest return.

And would you want to proceed with another uncertain appraisal well when the potential reward was quite modest?

[diarybeach] 11/10/2022 11:02

It’s where market dictates. Sentiment is now low and if investors suddenly lose their nerves and rush for the exit doors we could see 14p or worse.

Make your own minds up but be very careful of the rampers on these threads and those who attempt to shut people up with a contrarian view.

[fictitious1] 11/10/2022 10:50

Whilst I am in the camp of dump NS and focus on Canada, have a question if anyone can enlighten:

I recall a number of posters suggesting that I3E were aiming to drill 2 x appraisal wells (east and west) of the original discovery in order to delineate the field. There is no mention of this in the latest RNS. Is it a case of totally abandoning Serenity or press on with 2nd appraisal (may be further seismic)?. Neither I3E or EOG have written this off.
TIA.

[d1nga] 11/10/2022 10:38

Captain sands are typically thin and horizontal, not the easiest targets to hit, saying that they've had enough attempts now, should have been wary when they named the fields after 'blakes seven' sci fi show

[moonshot3] 11/10/2022 10:32

Needs Repsol Sinopec cooperation and FDP for Tain field, I think, possibly next year. So I think we are in their hands. Oh well, that's me done on Serenity post-mortem. Will wait for future update from Majid.

[hoper1] 11/10/2022 10:30

Yes, I seem to recall something similar.

[crankylad] 11/10/2022 10:19

As i understand it there is still a commercial find at the first serenity drill of between 10-20mbbls, thats worth going for if it can be tied back to Tain, and i can't see it costing that much?!!

[moonshot3] 11/10/2022 10:14

Didn't I3E move the appraisal well location after discussion with the EOG technical team? I can certainly recall a presentation where Simon Oddie was trumpeting the EOG and I3E collaboration which led to a change. I may have seen a post somewhere suggesting they moved the appraisal well closer to the original oil discovery. But maybe not close enough.

[tournesol] 11/10/2022 10:00

..."Mr Mosely said there have been some issues on seismic mapping which could be coming into play.

“Seismic mapping of the Lower Cretaceous turbidite sands, including those targeted at i3 Energy’s Serenity appraisal well, has proven challenging, with variable reservoir presence and thickness. This has partly contributed to recent wells in the play, including Liberator and West Wick, coming in below expectation despite nearby well control.

“Given this, the 3.5 km (2 miles) between the Serenity discovery and this latest appraisal well was arguably a relatively significant step-out, with the well failing to find the target reservoir or hydrocarbons.”

[tournesol] 11/10/2022 09:55

AIUI the appraisal well that has just failed was about 2 miles away from the original discovery well. That seems to me to be rather ambitious. Have these guys just been too greedy and gone for broke rather than plucking the fruit which is hanging lower and offers less risk? if they'd drilled much closer to the discovery location, the success case would not have proved up 100 million bbls but it would have been much more likely to succeed and prove up something useful, albeit smaller in scale. Have they simply over-reached?

AIUI that's exactly what they did at Liberator the last time.

Is there a systemic failing here? Over-optimistic? Greedy? Poor risk management?

Just asking for a friend.

[royalalbert] 11/10/2022 09:42

ADVFN sort these idiots out.

[robpuguk] 11/10/2022 09:40

Weren't me banning you fella, risk management is all part of the game. If people didn't do that then that's up to them. Not sure why people need financial advice from strangers on the internet ;-)

[bluemango] 11/10/2022 09:24

#2678 Agree with that. Save costs and concentrate on what (and where) they do best.

[robpuguk] 11/10/2022 09:19

DiaryBeach are you ok hun?? Imagine existing just to start new accounts on stock forums. Sadness

[cashandcard] 11/10/2022 09:17

bm,I will judge now serenity is out of the way. They better start showing what use they are (NS guys failed at their job). Better communication from Majid and some PR on the Canadian plays is what's needed.If they cannot do this, why the hell do we need a UK office and team? Close it down and run things out of Canada. Seriously, they need to remove the loss making part now and allow the Canadians to take the reigns. The UK management could retain an advisory role and help on corporate matters I guess.Cash

[diarybeach] 11/10/2022 09:16

If it breaks below 23p next resistance of note is 19p.

Sentiment has definitely changed here and expect some serious selling in Canada later today.

The rampers on this board particularly the other thread should come with a health warning to your finances.

[bluemango] 11/10/2022 09:11

Disagree, a CEO who intelligently states things as they are and delivers by results is just fine, thanks.

This is an easily absorbed minor setback in an otherwise steady upwards trajectory.

[1choip] 11/10/2022 09:07

We need a better ceo for good set up and communication with shareholders.

[goodday1] 11/10/2022 08:58

22108 shares our buy.Gl all

[goodday1] 11/10/2022 08:01

Glad to see Stas20 posting this link on LSE.Spread the coming good news.Gl all