I3 Energy Share Discussion Threads

[scrwal] 10/9/2024 20:26

GTE has fallen from US$8.66 to $6.03 at todays close.

[loganair] 10/9/2024 20:21

With the fall in GTE share price + a fall in the USD against the GBP, I make the current offer for I3E to be 12.86p per share, down from the original 13.92p per share.

For the offer to return to the original 13.92p per share GTE will need to offer 1 GTE share for every 141 I3E shares, down from the original offer of 207 I3E shares per 1 GTE share.

This would mean giving away 23.5% of the enlarged company to I3E Share holders, up from 16.5% of the original offer.

[tonynorstrom1] 10/9/2024 18:18

RTW - stop trying to silence fellow posters you moron - shut the f@ck up!

[pretax2] 10/9/2024 17:36

Worth noting that Serica trading volume was many times above the average and the highest since April 2022 today.

[1tvr] 10/9/2024 17:14

This link to a Bloomberg article on guerilla activity in the Colombian oilfields (where GTE operates) gives an idea of just how unattractive GTE is as a company operating in a high risk area. Personally I would not want to own GTE shares.

hxxps://www.bnnbloomberg.ca/investing/2024/09/09/worlds-oldest-guerrilla-force-revives-its-war-on-oil-companies/

[spawny100] 10/9/2024 17:05

38659 I've been suggesting that SQZ would bid for i3e for years now and suggested a takeout price of 16p a few months back. May yet happen...

[1tvr] 10/9/2024 16:49

Took a quick look at Serica (SQZ). Not a big fan of North Sea oil due to the punitive current tax regime but I do think a merger of i3 and SQZ would be a much better deal than the GTE offer and could preserve a good dividend payment which will not be the case with GTE who have zero prospect of paying a dividend.

[pretax2] 10/9/2024 16:10

Perhaps they'll post an RNS about the deal before the webcast.
The share offer is beginning to look silly - even I'm loosing the will.

[aberdeenandy] 10/9/2024 15:58

Pretax

Those are the biggest trades I think I've ever seen for i3! I'm starting to feel a little less nauseous about things in general. Fear not..those with expensive carpets...Tony has my bucket near just in case.

[pretax2] 10/9/2024 15:40

Big Buys 8,600,000 shares = £1,040,600 bought at the offer price at the time.
That's either a very bold bet or someone can read the future.
[Been watching 11-22-63 on Prime - recommended]

[1tvr] 10/9/2024 15:27

With todays Cdn$ share price for GTE of C$8.25 compared to C$11.60 when the GTE deal was announced, the deal value is now down from Cdn 24c to 22.5c (-6%) (excluding the dividend to be paid which we should get anyway. Cannot see the institutional holders going for this reduced value.

[roundtheworld] 10/9/2024 15:27

pretax

Thanks for that. I appears they’ve bought themselves some time to present their case to everyone. One has to ask why? Is there some other corporate movement going on behind the scenes that needs to work through the system without them muddying the waters?

In cases like this we all know the chances of another interested buying party arriving fashionably late are high so fingers crossed.

[roundtheworld] 10/9/2024 15:20

Some very large buys going through. Well..I think they’re buys.

[5chipper] 10/9/2024 14:32

At what point of the GTE share price dropping does the deal become invalid! It’s basically not the same deal that was promoted a few weeks back now!

[amoslor] 10/9/2024 14:04

I have today received this from iDealing.com Are they correct. I don't have as many shares as some on here , but am I really being denied a vote ?

The company is currently only giving Crest holders the ability to

receive the default mandatory Scheme of Arrangement out turn of stock

and cash.

If this remains the case clients will not need to give us an

instruction, they will automatically receive the out turn, and therefore

will not receive a Corporate Action notice.

If this position changes we will send clients an email updating them,

giving notice of how to make an instruction.

[pretax2] 10/9/2024 13:48

Ok, I don't think I3E will mind me sharing this communication as of a few mins ago.

"Due to the equality of information requirements of the Takeover Code which require information to be made available to all shareholders at the same time and in the same manner, management will be releasing a Proactive interview in the next week to address the most pertinent questions raised by investors on the transaction. I3 will also publish the video on its website."

[roundtheworld] 10/9/2024 13:46

Logan

Please stop talking sh1t. Thank you.

[loganair] 10/9/2024 13:05

The current I3E share price is saying that the GTE shares are all but worthless.

[pretax2] 10/9/2024 11:29

TN
Not only that, Serenity (which is useless to us) might actually be valuable to Serica.

[tonynorstrom1] 10/9/2024 10:17

Pretax,

They did not respond to your question / comment in the meeting but I’m sure they will post meeting - I also asked the question whether an I3E would be the type of company / geography they would look at.

Serica looks an interesting company - tax losses that shelter the next three years of earnings - a dividend yield that is 20% and their interim which they have declared for payment in November is 7-8% alone!

[marine boy] 10/9/2024 10:17

Let's face it. There's no white knight coming to the rescue on a 'no' vote.
No-one wants to get in to a bidding war.
12p or 9p - your choice.

[marine boy] 10/9/2024 10:12

Or it could mean I put in petrol instead of diesel 😬

[tonynorstrom1] 10/9/2024 10:07

“Oil inventories may be low but it doesn't matter if demand is low.”

Based on the actual data - not sure this makes any sense at all. Production is at record highs and inventories are falling - means demand is increasing surely ?? Ok maybe not at the rate some analysts are expecting but still demand is there.

If your car has a quarter tank of gas and your not going anywhere - it could mean a couple of things:

1) your a lazy git.
2) your cars broken down.

One thing it certainly doesn’t relate to is the general state of the demand / supply balance world wide.