I3 Energy Share Discussion Threads

[mr. t] 27/7/2018 13:26

begorrah, I think that's harsh to say the share is traded on faith.

I agree i3e's communication is poor. But there's a valuable asset in Liberator (validated by Agr Tracs, Gaffney, Cline & Associates, JV partners, investors) and i3e are developing it towards significant reserves, production and cash flow for shareholders.

[caters] 27/7/2018 13:13

The placees may be quick gain merchants, but the discount was minimal and the placing price was 105p so they may add to the drag on the price but their gain is currently nothing like that of Mr (or Messrs?) 5k.

[begorrah88] 27/7/2018 12:47

If they have already been placed then was there any restriction on future sale due to the discount or have we just got another of the quick gain merchants on board?

Got them at a discount and then offload them for a quick return once we get the next vox 'things are really going well' type update?

That is what I mean about communications not being what I would expect from 2 very experienced guys. Increasingly the share is trading on faith and trust in them rather than hard data.

[mr. t] 27/7/2018 12:41

begorrah - I noted that bit in the detail too. The rns title and the text reads like the placing has happened with existing iis, so that's what I imagine has happened.

[showme01] 27/7/2018 12:34

I don't think the agreement was ever expected to be signed in July, just the JV partner name and terms. I've been very impressed with management here and happy to wait for it to unfold.

[begorrah88] 27/7/2018 12:33

Have the shares been placed yet? I know the headline stated $2.1 million raised through a placing with existing institutional investors yet the detail later down in the RNS says

'1.1 WHI and GMP FirstEnergy today entered into an agreement with the Company (the Placing Agreement). Under the Placing Agreement, subject to certain conditions, WHI and GMP FirstEnergy, as agents for and on behalf of the Company, have agreed to use their respective reasonable endeavours to procure Placees for the Placing Shares at the Placing Price. The Placing is not being underwritten by WHI or GMP FirstEnergy.

1.2 The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared or made after the date of issue of the Placing Shares.

That reads as though WH Ireland and GMP will now start trying to find a home for the shares.

[showme01] 27/7/2018 12:31

Market makers happy to take 20,000 shares at 105p so still demand. Should rise back up through the afternoon.

[coscos] 27/7/2018 12:31

Mildly positive update, looks like there's been a slight delay to signing the agreement hence the placing however the timetable hasn't changed so all is good for FOIL.

[duckdown] 27/7/2018 12:29

Agreed Haider. Those involved in the placing are expecting good news.

[cashandcard] 27/7/2018 12:29

I'm disappointed they have not revealed the partner yet, given what GH mentioned in the last interview. However, reading between the lines of todays news, looks like its one of the final pieces of the puzzle before contracts are agreed. In fact, it could be the critical final step, we'll know in the coming weeks. Its very small dilution but pretty important we get a move on if we want to keep to our timeline re FOIL. The deal will come and its just a matter of patiently waiting it out.


Cash

[ducati2345] 27/7/2018 12:25

Be nice to know who the ii is,

[haideralifool] 27/7/2018 12:23

Presumably the IIs had an informed view of the possible terms of the farmout (i.e. dilution) and set against that £1.05 seemed ok.

[mr. t] 27/7/2018 12:19

I agree showme, progress is being made and II's are keen to invest with minimal discount.

I would have liked to know who the funder is and what the terms are today - but in reality it doesn't matter one bit as I plan to hold for sometime whatever.

[showme01] 27/7/2018 12:09

This is a good update. Proactive progress. We all want to know the funding partner but the fact that they are moving on with works to ensure first oil next year is all good in my book. I'm here for the end game so this update is good for me.

[ducati2345] 27/7/2018 12:05

Exactly, they can't afford to miss foil 2019. And they won't get foil without funding, so all looks good on funding front

[begorrah88] 27/7/2018 11:41

...or it means they need some capital quickly and any further delay hits poor weather in Q4 and nudges FOIL out of 2019

Either way yet another poorly communicated bit of i3e news from 2 very experienced guys.

I expect better

[ducati2345] 27/7/2018 11:40

Well to be fair they have announced further news just not news we wanted in July,

[ducati2345] 27/7/2018 11:38

reading rns again I think market has missed key point that they want survey in September and Cant wait till after winter, this strongly suggests funding is pretty much done deal and want to move quickly and that funding partner is fully on board to make this decision viable. I think if funding was not done deal they would have waited on survey

[pb01] 27/7/2018 11:38

Chill - end of September is only 8 weeks away. positive RNS everything on track for funding then re-rating can commence.

[calder27] 27/7/2018 11:36

I think it's safe to say that we won't be getting JV partner news by the end of July, otherwise it would have been included in that RNS.

As long as things continue to progress then I'm happy. The only mistake was promising in an interview that they'd release more info in July - NC/GH like to shoot themselves in the foot every so often by promising deadlines when they can't control whether they stick to them.

[jungmana] 27/7/2018 11:35

24th September, so not long to go. Could be concluded anytime within the next 57 days

[ducati2345] 27/7/2018 11:27

Well that was worth waiting for, pretty much same news as before but at least its good news, all looks like it's progressing, so much for the huge rises predicted pre funding eh!oiks like a slow drop down again until huge rise on funding news in September. Bit like the 30th round build up all over again

[d1nga] 27/7/2018 11:20

Ah well looks like Ill be able to pick up more now

[ducati2345] 27/7/2018 11:18

Yep this Bod certainly don't help us Pis nerves with their communication skills, but my only worry is whether to sell some other shares and top this up