I3 Energy Share Discussion Threads

[ashkv] 29/4/2024 12:37

10.42p approximately equates to a 10% Dividend Yield for I3E!!!

Positive of 2023 FY Results in that Decommissioning Provisions have been marked down by a good amount - > At start of 2023 Decommissioning Provision was GBP 93,331,00 and for End 2023 Per FY 2023 Results it is GBP 81,353,000. A reduction of approximately GBP TWELVE MILLION!!!!

Primarily attributed to a revisions of Decom cost estimates of approximately GBP 8mn

I3E need management/Majid to ignite the animal spirits!!

I hope Buybacks will be announced in short order.

Buybacks a more optimal allocation of capital for I3E - makes more sense to buy their owns shares than drill gas wells with AECO now sub CAD$1 at CAD$0.96

Share Price: 10.42
I3E Current Share Price vs 52 Week low of 8.25p on 7 Feb 24: 26.30%
I3E Current Share Price vs 52 Week High of 20.05p on 28 April 23: -48.03%
Brent Price: $89.25
AECO Gas Price ($CAD): hxxps://www.dobenergy.com/data/ 0.96
Shares Outstanding : 1,201,874,464
Market Cap (GBP) : £125,235,319
GBPUSD : 1.25
CADUSD: 0.73
Market Cap (USD) : $156,544,149
Debt (USD): Not Available
Cash (USD) No Q4 Update): Not Available
Net Debt (USD) Mid Projected Year End 2024 (US$23-26Mn: $24,500,000
Q4 2023 Average Production : 20,413
1W Feb 2024 Average Production Boepd : 19,654
2024 Production Mid-Guidance 18,000-19,000 Boe/d: 18,500
2024 Mid-Guidance Exit Production 20,250-21,250 Boe/d: 20,750
Actual 2023 Average Production: 20,711
Decommissioning Provisions FY 2023 Results): $101,691,250
ENTERPRISE VALUE (EV = Market Cap + Debt - Cash) (USD) : $181,044,149
EV/Barrel (Q4 2023 Prod) : $8,869
EV/Barrel (1Wk Feb 2024 Avg Production Boepd) : $9,212
EV/Barrel 2024 Production Mid-Guidance: $9,786
EV/Barrel 2024 Mid-Guidance Exit Production $8,725
EV/Barrel (2023 Actual Avg Production) : $8,741
EV/Barrel (2023 Actual Production with EV including Decommissioning Costs as Debt) : $13,651
2P Resources 31 Dec 23 (2022 YE 181.5mmboe 2021 YE 154mmboe): 179.9mmboe
Enterprise Value Per Barrel / 2P Resources: $1.01
2024 Annualized Dividend Yield: 9.85%
2023 Dividend Yield : 12.25%

[loafingchard] 29/4/2024 12:37

I'm not worried

[money4me] 29/4/2024 12:35

At this price it might be worth buying. Shame I bought higher

[marvelman] 29/4/2024 12:28

As you have been warning us of the perils of holding here you would be as stupid as you seem to see us if you are indeed holding. I don't believe you are stupid and therefore I have made my own very obvious assumption that you are not holding and also the reason that you continue to post negatively here.

[roundtheworld] 29/4/2024 12:22

Marvel

Whether or not I have a holding here is my business not yours.

[marvelman] 29/4/2024 12:16

"I do question if we’ll clear 10m profit this year...WE?

So its rinse and repeat then RTW. It seems that you do see yourself as being entirely altruistic as to the reason you continue to post here after all. No holding. Clearly no intension of holding. Just helping the BB out with a "balanced" posting regime. Strange no postings when share price was skyrocketing after the sale of assets and putting us in a debt free position.

[roundtheworld] 29/4/2024 11:48

KS

Thanks for the succinct, no waffle, informative post. So refreshing to see.

With gas prices even lower in 2024 than 2023, I do question if we’ll clear 10m profit this year. I appreciate oil is a little stronger but we don’t seem to be targeting it in any meaningful way. Just tickling it with a feather before ramping up in a bit more with the drill bit in 2025. Majid’s feet should be held to the fire until he explains why this is.

Worrying times indeed for holders. (and Majid’s feet)

[king suarez] 29/4/2024 11:43

As annual production increases, so does the annual depreciation charge - reserves are depleted faster - and thus a higher P&L expense whilst not affecting cash flow. It is the right down of the asset value of the produced reserves.

So long as reserves are replaced (through additional drilling etc) then it's not an issue.

Cash flow (and reserves value) is what is most important, and as that can sustain a dividend + some growth then that's good.

[fandagle] 29/4/2024 11:38

Team I3E! Tony and I had a Teams call with the BOD to sort the share price out! Tony printed a few large spread sheets out and then used his big crayons to shade in some Dinasaur & Rainbows in! Majid liked Tony’s nice pictures and allowed Tony to remove his head from his buttocks for a few gasps of air! Gooday signs on his Yorkshire Fiddler register today so could not attend the Teams call. This thread just keeps on giving and giving! lol

[tonynorstrom1] 29/4/2024 11:36

RTW - I don’t think anyone here thinks your motives are genuine - just about everyone thinks you on here to spread misinformation (usually negative) for whatever agenda you have - your basically an @rse .

So, to answer your question on profits and try to stay with me here:

1) Everyone on here knows that lower oil and gas prices mean lower profits - common sense right? Do you really think you are adding any value to point out the profits without adding any context. Do you think fellow poster really need you to read out these numbers for them ??

2) I3e already gave NOI which is field level income - its a pretty easy step to get from there to a decent estimate at profits - deduct estimated SG&A, Tax, Finance and here’s the big one - Depletion & Depreciation. Depreciation is a pretty big number and it’s also - get this - a non cash charge. In 2023 the number was £38m v £34m in 2022. So in short - maybe profits were a big surprise to you (because you don’t understand the numbers ). But it will not have been a surprise to knowledgeable investors or institutions. Go check WHI’s 26th April 2024 report – they have estimated an almost identical number for profits 3 days ago – no surprise to them – just idiots like you .

3) Personally I never estimate “profits”; as reported on an income statement – why, because they have these non cash items such as - “Depletion & Depreciation” which are a little harder to calculate / estimate and don’t always directly correspond well to actual charges and hence cash earnings – I always look at / calculate cash flow/free cash flow which I think is a much more reliable metric and as WHI said recently – i3e are a “cash machine” and as someone else said “cash is king !”

4) Volume so far is not that heavy so imo – non of the “smart money” is selling out. They would have done so already based on earlier reports – there is nothing in todays reports that warrant any sell off imo. So in short you should not really be advising anyone here what to do because you clearly don’t understand/know

My posts to you are fairly dismissive / rude which I try not to be to genuine posters – but you are not genuine and are fair game as far as I’m concerned.

Just seen your post on Gas - who cares what you "think" - really !

[roundtheworld] 29/4/2024 11:14

It looks like gas price will continue to drop modesty in Canada during summer months before what everyone is hoping will be an increase towards the end of the year.
The problem is over supply even now when producers aren’t pumping out as much as they could due to the price. Everyone has the same idea “ Don’t worry come October we’ll drill drill drill and produce produce produce. This will flood the market further and could in fact cause further price drops towards year end.

There’s just to much gas around and everyone waiting with fingers on triggers to produce more and more. Some people are predicting it could even go into negative price territory where producers have to pay people to take it away.

My guess is it will hover around current price for next few years which isn’t good for i3.

[goodday1] 29/4/2024 10:17

Back to i3e.Hopefully, we get a management buy RNs in the next 2 days.hTTps://x.com/zakstraderscafe/status/1784848480084599278?s=46&t=wfsOgfWHdwyExVA_MX6XYQi3 Energy (I3E), an independent oil and gas company, announced the audited results for the year ended 31 December 2023. I3E said it looks forward to 2024 and beyond in a much-strengthened financial position, with a strong balance sheet, and growing relationships with providers of debt capital for growth. Its core asset base continues to perform consistently well and will underpin the development of the significant undeveloped reserve and resource potential in its portfolio. It looks forward to executing a successful drilling programme in Canada in 2024, in what it believes will be a more positive pricing environment, growing production and continuing to return cash to shareholders to deliver on its total shareholder return model.Comment: I3 looks to be on the front foot once again, with the real kicker being that the company will be able to add to the cash it has already returned to shareholders. All that is left is for a decent re-rate for the shares back towards the 20p zone.Gl all

[goodday1] 29/4/2024 10:12

Mate, please delete this post.Morons should stick to moronic things & leave us to conduct our financial affairs.Do not play the plonkers game.Cheers.Gl all

[roundtheworld] 29/4/2024 10:11

marvel

I’m trying to keep a degree of balance and a check on idiots like Tony and his drunk/stoned side-kick Goodday.

I admit, I don’t always call it right and Tony can occasionally drag me down to his level but my motives are genuine. Tony can be informative but he’s also a classic bully which winds me up and causes me to post much more than I otherwise would.

[roundtheworld] 29/4/2024 10:04

Jeepers Genises

All that trouble but still no mention of all the buys you made a year or so ago at much higher prices. Talk about cherry picking to create a distorted overall picture.

I actually think you’re a decent bloke and that shines through but you started on me this morning so I reacted. Apologies for over personalising things.

Edit. I agree with Goodday for once. You should delete that post as I will delete my early personal swipe at you.

[marvelman] 29/4/2024 09:57

....or fun at other people'expense?

[marvelman] 29/4/2024 09:52

RTW...why are you here on this BB. You are not invested and by the tenor of your posts it seems you never will be? Altruism?

[genises] 29/4/2024 09:50

Goodday1
Yep he wants to see my trades
Here my latest

My ISA I don’t touch as no tax is paid on dividends.

I3 Energy PLC ORD 0.01P
GBR
29/04/2024
Completed
Investment ISA
Buy
179,402.0000
£18,999.93
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£18,992.93Fees includedFees are included Order number37638994Order type Quote and deal
Status updated

Date29/04/2024Time08:43Settlement Date01/05/2024
Actual contract cost

Execution Date29/04/2024Execution Time08:43Value£18,992.93Price (settlement price)10.5868p

Transaction charge£6.00PTM Levy£1.00Contract total£18,999.93
I3 Energy PLC ORD 0.01P
GBR
17/04/2024
Completed
Investment ISA
Buy
8,785.0000
£999.93
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£993.93Fees includedFees are included Order number37517735Order type Quote and deal
Status updated

Date17/04/2024Time12:07Settlement Date19/04/2024
Actual contract cost

Execution Date17/04/2024Execution Time12:07Value£993.93Price (settlement price)11.3140p

Transaction charge£6.00Contract total£999.93
I3 Energy PLC ORD 0.01P
GBR
08/03/2024
Completed
Investment ISA
Buy
96,785.0000
£8,998.97
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£8,992.97Fees includedFees are included Order number37029482Order type Quote and deal
Status updated

Date08/03/2024Time15:12Settlement Date12/03/2024
Actual contract cost

Execution Date08/03/2024Execution Time15:12Value£8,992.97Price (settlement price)9.2917p

Transaction charge£6.00Contract total£8,998.97
I3 Energy PLC ORD 0.01P
GBR
07/03/2024
Completed
Investment ISA
Buy
76,909.0000
£6,999.95
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£6,993.95Fees includedFees are included Order number37003207Order type Quote and deal
Status updated

Date07/03/2024Time08:28Settlement Date11/03/2024
Actual contract cost

Execution Date07/03/2024Execution Time08:28Value£6,993.95Price (settlement price)9.0938p

Transaction charge£6.00Contract total£6,999.95
I3 Energy PLC ORD 0.01P
GBR
05/03/2024
Completed
Investment ISA
Buy
11,231.0000
£999.94
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£993.94Fees includedFees are included Order number36967719Order type Quote and deal
Status updated

Date05/03/2024Time09:09Settlement Date07/03/2024
Actual contract cost

Execution Date05/03/2024Execution Time09:09Value£993.94Price (settlement price)8.8500p

Transaction charge£6.00Contract total£999.94
I3 Energy PLC ORD 0.01P
GBR
21/02/2024
Completed
Investment ISA
Buy
11,238.0000
£998.94
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£992.94Fees includedFees are included Order number36803849Order type Quote and deal
Status updated

Date21/02/2024Time08:26Settlement Date23/02/2024
Actual contract cost

Execution Date21/02/2024Execution Time08:26Value£992.94Price (settlement price)8.8356p

Transaction charge£6.00Contract total£998.94
I3 Energy PLC ORD 0.01P
GBR
07/02/2024
Completed
Investment ISA
Buy
11,801.0000
£1,000.97
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£994.97Fees includedFees are included Order number36598366Order type Quote and deal
Status updated

Date07/02/2024Time13:01Settlement Date09/02/2024
Actual contract cost

Execution Date07/02/2024Execution Time13:01Value£994.97Price (settlement price)8.4312p

Transaction charge£6.00Contract total£1,000.97
I3 Energy PLC ORD 0.01P
GBR
06/02/2024
Completed
Investment ISA
Buy
11,302.0000
£999.99
Show less about your investment to I3 Energy PLC ORD 0.01P
Order summary

Estimated value£993.99Fees includedFees are included Order number36581747Order type Quote and deal
Status updated

Date06/02/2024Time12:55Settlement Date08/02/2024
Actual contract cost

Execution Date06/02/2024Execution Time12:55Value£993.99Price (settlement price)8.7948p

Transaction charge£6.00Contract total

[roundtheworld] 29/4/2024 09:42

Tony

Errr. Can you please refer me to earlier announcement where they mentioned profits for 2023 had halved compared to 2022. You are so full of sh1t it’s unbelievable.

[gusto01] 29/4/2024 09:41

You're......

[gusto01] 29/4/2024 09:40

Your all just traders.....

[goodday1] 29/4/2024 09:40

GenHahahaThis plonker alias seems to know more about your holdings!Has it got no better things to do?LolTony, it thinks we trade in fish & not oil and gas.What morons do you meet in Skegness?Bless non-holders time wasted while pulling numbers from thin air.Gl all

[tonynorstrom1] 29/4/2024 09:39

RTW - you have zero integrity - you are an @rse !

What you will have missed is that the results were in effect already announced earlier in the Q4 update where they confirmed NOI, debt and Cash. There's nothing really new in the report at all. In fact if anything the report is fractionally better than I had modelled - lower SG&A in H2 and lower Tax. Also the decommissioning liability being whittled down.

A couple of points that RTW will have completely missed:

1) No write down yet on Serenity - worth asking a few question about this in the upcoming podcast.

2) Also interesting the gas hedges they were able to get into with them priced at around CAD 3.00 in November of this year, also hedges in place around the CAD 2.70 / GJ mark from now until the end of the year. So this is counterparties taking the bet that Gas prices will be above these levels and putting money on the line.

[genises] 29/4/2024 09:30

lol
One forgets I brought them at 8.8p.
The money is back in the account after increasing 40%.
Saw a opportunity to buy and then sell
The increase has gone back in at a lower price from what I sold and max my ISA for this year
Hence my top up today