I3 Energy Share Discussion Threads

[kierandoberman] 19/10/2018 15:02

Don't know about 25 / 30p but 44p is looking more possible, the former CEO of this company has a lot to answer for and company has the check to reward him in shares ! Let's hope the new guy can limit the damage, although he's not of to a good start lining his pockets already. THE SPARKLE HAS COME OF i3E . The bod has only themselves to blame for this mess we in .

[fardels bear] 19/10/2018 14:57

Obviously he doesn't yet have a position.

[showme01] 19/10/2018 14:44

WJ, you been down the pub? lol

[w1ndjammer] 19/10/2018 14:42

should settle around 25/30p unless something positive before.

negotiating position getting weaker.

WJ.

[cashandcard] 19/10/2018 14:31

Leave the door open to the potential JV partner, but get on with engaging new interested parties alongside FE. Potential JV party know what they have to do if they really want to stay involved. We have been generous to them and engaging other parties (since beginning of this week) is a great way of letting them know what's at stake.


Cash

[ducati2345] 19/10/2018 14:18

Half funding is100 million that will do me so of neTly 200p

[buffythebuffoon] 19/10/2018 14:16

It would be the height of stupidity to cut off any potential partners when there is absolutely zero advantage in doing so.

You have a data room open, you contact people expressing an interest. Some will play a waiting game, awaiting indications of the level of interest. It’s an incestuous business. They all know who the original partner is, and it is likely that is still the best partner for us.

The assets speak for themselves. Since we can almost certainly sell the asset for way more than the market cap, we have next to no downside from here. The question is really about how much we make and when.

There are some people who are displaying too much emotion.

It’s an attractive asset, in a politically safe area, with a good potential return.

I suspect we will get our partner or partners in good time because of this.

Buffy

[roundup] 19/10/2018 13:47

Yes, but there is a limit to how long we can allow this company to give us the runaround.. After all we gave them 90 days exclusivity, which hindered us from dealing with other firms and now they are dragging their feet. There must be a cut-off point, otherwise we will look to be weak and desperate.I am concerned at the moment that a large oil company could suddenly offer a premium of 70% or above and get our whole asset for less than half the money we are looking to borrow.

[kingivor] 19/10/2018 13:19

Agree, closing the door on the existing jv partner is not a good move.

[che7win] 19/10/2018 12:47

Brent recaptures $80 level

[jungmana] 19/10/2018 12:20

Added a little today. Let's see where we are in 3 to 6 months time.

[coscos] 19/10/2018 11:34

I'm surprised Mr 5k is still around today, he usually has Friday's off to play golf.

[che7win] 19/10/2018 11:09

Showme,
Fair point.

They know there are other interested parties. Looking at it from their point of view, they know other parties will catch up with them very quickly, a matter of weeks and they will know the writing is on the wall as they will not be the front runner any more.

I would imagine the pressure on the other party is immense at this stage.

I liked the "strong interest" statement this week, I see I3E mentions more licence rounds in the North Sea to take place, interest in North Sea oil is growing.

[showme01] 19/10/2018 11:04

No, never close options in fund raising imo. They will know the longer it goes on the less chance they have if they are in a position to proceed.

[che7win] 19/10/2018 10:59

If I were management here, I would give the JV partner two more weeks, then close the door shut.I would do a deal with someone else regardless after that The JV partner will not be trusted if they don't move very quickly at this stage, good faith is on fumes.We either get the deal within imminently or other parties will be the outcome.

[cashandcard] 19/10/2018 10:58

One bitten twice shy. The market has obviously decided its going to wait for the deal before investing this time round. That presents a big opportunity for those who believe the FO will happen.

Cash

[begorrah88] 19/10/2018 10:58

Could be, encouraging the likes of Chrisoil on twitter wasn't a sharp move however I think the i3e presentation of less than 12 months ago set the tone

hxxps://i3.energy/wp-content/uploads/2018/06/20171107-i3-Corporate-Presentation-vF.pdf

as they now seem like wildly ambitious implied valuations [granted not actual market valuations] along with the bumping of production into H2 2019.

I think the share price is significantly undervalued at present but until i3e actually achieve a funding deal, that shows a clear and achievable path to production, the market will dismiss it.

[che7win] 19/10/2018 10:55

Buffy, Broker targets are well over 200p, I suspect management expect much higher.There is a real focus by management on minimising dilution, they will raise debt and get a deal. The RNS says strong interest.I think they have really been let down to be fair, the other party was very genuine in their commitment.We will get a deal, Brent up 60cents this morning.This prospect has payback in 12-18 months, it is a great prospect for someone.JV could land any time, market is too pessimistic here.

[buffythebuffoon] 19/10/2018 10:47

Is it possible that a lot of the over expectation was created by this, and other, boards?

Since I invested, we've acquired an adjacent asset, as promised (by inference/reading between the lines), and the oil price has strengthened.

I accept that the impression was given that we would secure a partner in super quick time, as opposed to the usual longer timescale, but the reality is that I would willingly invest today, as I did previously.

You should try being a Sound Energy shareholder....or worse, a [insert your own mickey mouse, lying CEO led, company) shareholder.

Buffy

[duckdown] 19/10/2018 10:41

Yes some large holders selling down to the IPO price - real opportunity here.

£23m market cap for 33mmbbls with huge upside.

10 bagger within a year?

[begorrah88] 19/10/2018 10:24

Credit Suisse would seem to have sold 360k+ as they have dropped off the updated holdings table on the i3e site, also Nicholas Mathys has off'd 200k

Miton have increased by the looks of it.

[cashandcard] 19/10/2018 09:42

begorrah,


Every oil company in the world was restricting capital expenditure in late 2015 and began cost cutting across the board. Iona were, unfortunately, on the wrong side of the oil price cycle - and they paid for it. I3E have caught the right side of it, the current setback is just that, not outright failure.


Cash

[showme01] 19/10/2018 09:32

Begorrah, fair point but one huge difference was that Iona were raising funds when the oil price collapsed and many small oil companies were going to the wall as they couldn't service debt. I don't see it as a punt for the reasons I posted a few minutes ago but everyone has got to buy/sell/hold based on their own research and conclusions.

[begorrah88] 19/10/2018 09:28

A lot of the sell off has been because the genie is out of the bottle and can't be put back in.

A lot of people believed in the BoD, the story they told & sold and, other than GH history of Iona failing to get a farm in and going under [interesting that it was a similar story as now see below] wanted & expected them to succeed and most things they said were very positive. However it didn't happen and other things they have said then came into question. Belief has gone and investors move on to the next big thing

'Iona Energy ran into difficulties in late 2014,
......in late 2015, the proposed farmout partner pulled out
after its parent elected to restrict capital allocation to its upstream
operations.'

So we find ourselves in a straightforward punt now on whether they can sort the finances