I3 Energy Share Discussion Threads

[goodday1] 02/11/2022 08:09

33,186 our buy.Gl all

[5chipper] 02/11/2022 08:01

Although they mention monetisation of serenity in the rns..

[cashandcard] 02/11/2022 07:59

It would seem the NOI reduction on the quarter mainly driven by AECO gas prices and NGL both notably lower.The 16% increase in Clearwater acreage to 109 sections, upon development, should help to move the production mix more towards oil in 2023.I'm hoping the Capex budget for 2023 is reduced compared to 2022. If they can increase production by 15%-20%, that's fine. But trying to increase by 33% again will be very expensive.Serenity, only game in town now is a farmout imo. They will need to appraise again so no point wasting money on that if it can be farmed out. Let some one else take the cost risk on that.Cash

[goodday1] 02/11/2022 07:57

Thanks to barnyards.From LSE, very good post & I think it is directed at the usual suspects.LolEnjoy your research, and your conviction especially if you have not stayed in cash.The vision & the delivery get better here.---barnyards, Posts: 827, Price: 25.05message from Majid, Today 07:44I hope Q3 results meets with everyone's expectations, but more importantly I hope it shuts Sir Groanalot up as the company firewall and my spam folder just can't cope with any more of that impatient 'we want this and we want that' jam tomorrow rubbish :-)OK back to browsing my classic magsanother lovely dividend on its way into my account on Fridaysteady as she goes cap'nTTFN xGl all

[pro_s2009] 02/11/2022 07:56

December 2022 Dividend Declaration

i3 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 update.

Monthly Dividend

i3 announces its monthly dividend totalling GBP1.6996 million and confirms the following:

Dividend: 0.1425 pence/share
Ex-Dividend Date: 10 Nov 2022
Record Date: 11 Nov 2022
Payment date: 2 Dec 2022

[ashkv] 02/11/2022 07:54

2 November 2022 Q3 2022 Operational and Financial Update

I3E Share Price: 25.00p
Brent Price: $95.50
Shares Outstanding: 1,192,731,373
Market Cap (GBP): £298,182,843
GBPUSD: 1.15
Market Cap (USD): $342,910,270
Debt Half Year 2022 Results (USD): $29,291,650
Cash (USD): $34,885,250
Q3 2022 Average Production: 20,571
Current Peak Production: 23,000
Guidance 2022: 20,500
Guidance Late Q4 2022: 24,000
Decommissioning Provisions (HY 2022 Results):$109,298,300
ENTERPRISE VALUE (USD): $337,316,670
EV/Barrel (Q3 2022 Prod): $16,398
EV/Barrel (Current 2022 Prod): $14,666
EV/Barrel (2022 Guidance): $16,454
EV/Barrel (Late Q4 2022 Guidance): $14,055
EV/Barrel (Current Prod + Decom): $19,418
2022 Minimum Dividend: £11,827,000
Projected Dividend Yield (Annualize most recent monthly dividend given growing production and revenues): 6.84%
2P Resouces: 154mmboe

[pro_s2009] 02/11/2022 07:54

May upgraded to 241m and then August downgraded from 241m to 200m



Assuming the full implementation of the Company's previously announced Enlarged Capital Budget (as announced on 9 May 2022), full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) is now forecast to be approximately USD 200(1) million (based on current strip), versus previous guidance of USD 241 million, predominantly due to volatile near-term commodity pricing

[edgein] 02/11/2022 07:52

Great update, now exceeding 23,000boepd with the same target of 24,000boepd by year end. Looks easily achievable when you read the number of wells to be cleaned up or tied in for the rest of the year. That includes two long horizontal Simonette wells plus multiple other wells. Almost 10 net wells to contribute before year end:

"The Company remains on track to reach 24,000 boepd by year-end with contribution increases from five gross (3.93 net) Montney and Cardium wells, which are still being cleared up, two gross (2 net) Falher wells recently drilled, tied-in and commencing clean-up and seven gross (3.7 net) recently drilled wells in the Glauconite, Clearwater, and Belly River formations, all of which are expected to be completed and tied-in prior to year-end."

NOI still roughly translates into £153m approx going forward and that's a heck of a lot better than NOI for 2021. With NOI to be mainly focused on growth (we'll see that imo in the 2023 plans) we can all look forward to increased dividends and ops going forward.

This was another highlight as the company keeps on increasing its future upside:

"Additionally, i3 has continued to expand its Clearwater portfolio with the addition of 15 gross (15 net) sections of Clearwater rights within its core operating areas. Upon acquisition of these new lands, i3 increased its Clearwater position by approximately 16% to 109 net sections."

Can't wait to see the reserve audit at the end of this year as the company has met or exceeded expectations on these wells that were focused not only on production but also upping our reserves from 154mmboe:

"On 9 May 2022, following the excellent results of its initially budgeted drilling programme [and forecasted strength in commodity prices,] i3 announced an increase in its 2022 capital budget by up to 100%, to USD 97 million (the "Enlarged Capital Budget"). The Enlarged Capital Budget and expanded drilling programme had dual objectives - to increase production and grow booked reserves while demonstrating the upside from certain strategic assets in i3's Canadian portfolio."

I don't know about you fellas but I'm expecting the Q on Q growth for the last 5 Q's to continue into 2023 and beyond.

Regards,
Ed.

[inever] 02/11/2022 07:46

Comprehensive update. If I3E closes Q4 at 24k boepd it will start Q1 next year 33% up on what it achieved in Q1 this year. That is a very decent rate of growth to consider when forecasting NOI for 2023. The capex plan for 2023 will be very interesting to see.

[cb7] 02/11/2022 07:43

I'll have whatever gooday had..... possibly magic mushrooms in his cooked breakfast.

[goodday1] 02/11/2022 07:36

Just in case you missed it, we had 2 RNs.keep calm and keep collecting the dividend.The market has sellers and buyers.We are very happy with the BoD & i3e progress.Happy, Happy Days to all holders and well done for holding.Reserve upgrade later in the year should impact the share price as well as the North Sea bonus.Gl all

[sporazene2] 02/11/2022 07:34

@jungmana. NOI forecasts are going to fluctuate based on historic actual pricing and strip pricing. This works both ways of course and my personal opinion is that come 2023 guidance strip pricing for gas and liquids will be a lot higher and with 24k exit production and a capital programme to forecast production higher we may be looking at NOI guidance of $250-275m for 2023.

[the patriotic irishman] 02/11/2022 07:31

eh?

I can't remember I3E ever claiming a 2022 year end NOI of $250 million ?

anyway, who cares if it is down $28 million from their last quarterly estimate as they can do nothing about market pricing but (for me) the important bit is their stated 24k boepd production is still on target for year end therefore it looks like 2023 is going to be another bumper year for 'profits' subject of course to world events and that rather unpredictable oil and gas price fluctuations


as for buybacks err NO THANKS

keep paying the monthly dividends (as they are is just fine) and drill baby drill

production = profit 🥳


edit:

increased production = increased profit (inshalla) 😉

[jungmana] 02/11/2022 07:30

the BOD were over optimistic in their initial 2022 NOI forcast of $241m in Q1 which is now down to $170m.They should just focus on growing production and try to be conservative in their NOI forcast

[cashandcard] 02/11/2022 07:26

Very comprehensive update. Excellent operational progress in Canada. 24kboepd look achievable. NOI taking a further slight downgrade, but that will definitely change come next quarter when strip pricing improves.Cash

[sporazene2] 02/11/2022 07:22

Robust operational performance. I am sure eyes will be drawn to a reduction in the NOI but this outside of the companies control. Strip pricing being what it is. Looking forward to updates on the 2023 operational programme and a likely increase in monthly dividend. I think gas pricing going to look pretty different in December.

[jungmana] 02/11/2022 07:22

Is an excellent update but how will the market react to this:"i3's full year 2022 NOI is forecasted to be approximately USD 170 million based on current strip prices. This is a reduction of USD$28 million compared to the Q2 Operational Update guidance and is primarily due to the recent softening of liquids and AECO gas forward pricing. "Traders didn't like the last reduction to $200m

[goodday1] 02/11/2022 07:18

Brilliant & Comprehensive update.My major highlights.- Record corporate production exceeding 23,000 barrels of oil equivalent per day ("boepd") achieved in October- The Enlarged Capital Budget remains on track to deliver peak production above 24,000 boepd before year-end 2022.- Additionally, i3 has continued to expand its Clearwater portfolio with the addition of 15 gross (15 net) sections of Clearwater rights within its core operating areas. Upon acquisition of these new lands, i3 increased its Clearwater position by approximately 16% to 109 net sections.Much more to come from this BoD, well-done i3e.Gl all

[pro_s2009] 02/11/2022 07:05

NOI reduced down from 250m to 200m and now to 172m




· ............Assuming the full implementation of the Company's previously announced Enlarged Capital Budget (as announced on 9 May 2022), full-year 2022 net operating income ("NOI")(1) is now forecast to be approximately USD 172(2) million based on current strip pricing.........

[goodday1] 01/11/2022 19:47

Off-topic but still shares, someone shared this with me and I love this tweet, who would have thought?hTTps://twitter.com/wa7ermelon/status/1587511753105195012?s=46&t=USn9NNikrz71x22sEQcdIwThat is a big bet of big management vs minor Aim.LolGl all

[goodday1] 01/11/2022 17:52

Never mind Trudeau, let us wait & see what happens here on 17/11!Everywhere is shafted with the elevated energy prices & government debt repayment going up & they do not know where to get the money to balance the books.Anyway, it is what it is.Let us see how close the production from the new wells is to the 24K b/d.Brent heading to 2 per cent up on the day & Canada is up 1.299 per cent on thin volume.Gl all

[spawny100] 01/11/2022 17:42

Thankfully I sold KIST at a small loss a while back. It could easily happen here with that WEF lunatic Trudeau in charge imo.

[goodday1] 01/11/2022 16:34

We picked another 32,847 at 16:24:57Let us look forward to 24K b/d very soon.Our thoughts must be with Kist holders. hTTps://twitter.com/garyntrader/status/1587472497007628288?s=46&t=USn9NNikrz71x22sEQcdIwGl all