I3 Energy Share Discussion Threads

[uk2day] 09/1/2019 12:54

lol! my thoughts exactley guys!!!

at least Jaknife tried to be a little savy with his deramping posts!!!

[begorrah88] 09/1/2019 12:41

Not me in case that's what you were thinking.

I was going to sell out but FOMO and the 38p buyer gave me just enough justification to stay in. Must say the finger hovered over the sell button a few times but managed to talk myself down.

[che7win] 09/1/2019 12:04

Broadbean, Yes, seems someone has sold out at the very bottom and registered here on 9th January....says it all

[broadbean78] 09/1/2019 11:56

Caters, I think he’s already sold down or out (at completely the wrong time) and has now been reborn as the newbie NSO. It’s so obvious. I shalln’t mention any names. Take with a pinch of salt as with everything else on these chats.

[caters] 09/1/2019 11:26

Looks like someone's working hard for a cheaper entry. Best time was about two weeks' ago.

[north sea oiler] 09/1/2019 11:23

It is a corporate broker note so unlikely that it is intended for private investors eyes. I'm guessing they have put this out to start to gain some interest in a corporate placing? A placing at a premium would certainly be a good sign. I can't see it is being used to gain JV interest as that process started some time ago.

[hpotter] 09/1/2019 11:04

duckdown, can you summarise as it seems to be a subscription service.

[corgies2] 09/1/2019 10:57

Anyone know if WHIreland still have a 265p unrisked [ pre financing ] valuation ?

[caters] 09/1/2019 10:54

i3 energy tweet from about an hour ago:

"A combination of beefed up budgets & fierce competition for assets is behind the “renaissance”' @i3energy Liberator on list of UK FIDs expected in 2019!"

I hope the exclamation mark isn't a signal of i3's surprise at having to produce a FID during 2019....

[caters] 09/1/2019 10:48

duckdown's referenced article before the registration/paywall:

"We have undertaken a technical review of the Serenity prospect and believe some of our findings are also relevant for the prospectivity of the Liberator Extension (Liberator Phase 2) to the northwest of the Liberator discovery (Phase 1). In our opinion, i3 Energy has essentially unlocked a regional geological model that is robust, coherent and supported by the entirety of a broad cross-disciplinary data set. Based on this model and its supporting data, we believe that Serenity and the Liberator ..."

[duckdown] 09/1/2019 10:05

This is well worth a read for anybody interested in I3E:

research-tree.com/companies/uk/oil-gas-e-ps/i3-energy/research/whireland/-review-of-serenity-prospect-/d902ef57-3b88-4f03-a717-eb341681e568

WH Ireland note with commentary on Serenity.

[cashandcard] 09/1/2019 09:57

North Sea Oiler,


Yes. Looking at getting back in here once there is clarity on financing. I'm sure you have read up, the likely partners are Repsol-Sinopec and RRE, they are partners in the local infrastructure. I think it'll be one of them and the deal will deliver value for shareholders. But it will not be as generous as what NC made out in 31st Jan RNS last year. I think there will be equity raise to back it and/or debt.

Regardless, the outcome cannot be too far away. There should be some clarity on the F/O process which has been ongoing for a few months now and last we heard from MS was they had a number of parties signing ND agreements.


Cash

[north sea oiler] 09/1/2019 09:48

Thanks Cash. I assume you are looking to buy back in once it is financed so long as the terms are reasonable?

[north sea oiler] 09/1/2019 09:47

Thanks, but I never mentioned Serenity or missed it out. Serenity is a few years away as is Phase 2 Liberator. Phase 1 is what they need to fund. If they were approached on 2 occasions with offers, why have both of those offers not materialised? I am sure the management will want to get the best deal they can but in over 12 months, they have still failed to do so. Are you sure the deal is still on the table? I have had not seen that anywhere in my research and if it were on the table, surely the company would take it up rather than start the process all over again. What are your thoughts on how funding will be structured assuming that the deals are actually not on the table.

[cashandcard] 09/1/2019 09:46

North Sea Oiler,


I still think the most likely route, due to a number of key factors, is a F/O aided by equity. But I would not rule out other potential routes aswell. That is the uncertainty. I sold out some months ago when it became clear financing was a bit tougher than NC made out. I await news on the F/O process and/or financing front.


Cash

[che7win] 09/1/2019 09:41

PS: Brent over $60 per barrel this morning.

[che7win] 09/1/2019 09:39

You conveniently miss out new properties Serenity which doubles the upside.The company did not actively solicit funding last year, there were two company's which approached them with offers, one of which is very keen at a local level to do a deal, but internal matters have delayed that deal.That deal remains on the table.The funding will get done, because as you will note, break even on Liberator is $25 per barrel, and the returns are weighted to the front end.Make no mistake, management are aligned to get the best deal as they own 45% of the shares.

[north sea oiler] 09/1/2019 09:26

With the recent rise here, i3e has caught my eye. I have been doing plenty of research looking at the initial IPO documentation an the RNS releases since. The asset seems to look attractive but from what I gather funding has been an issue in both 2017 and 2018. The company never seem to be able to achieve their timelines and it appears that 2 different funding JV's have collapsed. I also note that the CEO has fallen on his sword probably as a result of this. Just my thoughts but with 2 JV's fallen through and recent interviews talking more of debt and equity, my conclusion is that i3e can not reach commercial terms on a JV and are looking at an alternative funding solution. My concern is that with the BoD holding so many shares that they do not appear to have purchased, just been granted to them in the IPO, if they get heavily diluted it is not ideal but better to have something rather than nothing?
I would really appreciate some feedback on these observations and questions as this looks to be a good prospect so long as it can get funded without huge dilution and with continued missed deadlines in both first oil and funding, it concerns me.

[hpotter] 09/1/2019 08:09

And, with a table showing Liberator 2019 FID:

[5chipper] 09/1/2019 07:50

hxxps://www.oilandgaspeople.com/news/17724/first-oil-and-new-discoveries-in-the-north-sea/

[5chipper] 08/1/2019 20:35

More shares in issue though

[kierandoberman] 08/1/2019 20:27

We are only bouncing if the listing price and that was before the 30th round award , serenity , FDP lodged , added data , new CEO , ........... we have come a long way since listing price.

[tsmith2] 08/1/2019 14:43

https://www.energyvoice.com/oilandgas/north-sea/190164/expect-north-sea-exploration-fightback-in-2019-woodmac-says/?utm_source=Sailthru&utm_medium=email&utm_campaign=EV%20Daily%20Newsletter%202019-01-08&utm_term=Energy%20Voice%20-%20Newsletter

[kevmb] 08/1/2019 13:46

Uk2day. I think he means ATM