I3 Energy Share Discussion Threads

[mr. t] 26/2/2018 08:27

Thanks showme01. Do you know when we expect to receive approval of liberator's field development plan? The investor presentation has it in q1 2018.I hope fdp approval is likely given i3e's management track record, and that you'd think the uk government would want liberator developed to maximise oil revenue from the North Sea.

[showme01] 26/2/2018 07:06

Mr T. I agree as I have just dug out Graham Heath's last correspondence to me on the matter and it was that current indications from the OGA are that awards will be made during Q2.

Sorry Buffy, I missed this when we posting on the matter last week! The closing date also for the 29th awards had a finishing date a month earlier than the 30th awards so if similar time scales are needed before awards are granted, this would suggest that end of April was more likely.

IMO the timing is much better as we get funding announced first and these awards could take up to a further 3 months from that announcement. It avoids too many selling on news as this 30th bid could come at any time thereafter and would significantly add to i3e's reserves.

[a2584728] 26/2/2018 07:02

Could do with a bounce today

[5chipper] 25/2/2018 19:10

With the UK being a net importer of approx 70m barrels of oil a year I hope UK based o&g companies will get govt support in producing. Certainly seems to be a lot of value around coming off the back of the oil price slump.

I3E & RBD are my favs atm

[buffythebuffoon] 25/2/2018 19:07

Yes, I know Mr T, the OGA website does show Q2. I pointed this out to showme in an email exchange last week.

Our presentation shows Q1, and looking at the 29th round timings I thought it could be the last week of March.

It really doesn’t matter to me; I’m not here for a short term trade.

Buffy

[caters] 25/2/2018 18:11

Either way, the news of the 30th Round isn't far off at all and neither is the news about funding.

Exciting times. 2018 is looking very good so far for some of the smaller O&G share and I think there is a huge amount more to come.

[showme01] 25/2/2018 17:55

Mr T. and 2P. Early Q2 looks more likely.

[2prsimo] 25/2/2018 17:04

I agree Mr T - the award (if it should be given) will more than likely come in April or May

[mr. t] 25/2/2018 16:55

buffythebuffoon, the OGA says this about the 30th licensing round:

“The OGA intends to offer awards to successful applicants during Q2 2018.”



That reads to me that a March announcement is not going to happen. Is there anything I’ve missed that suggests a March announcement on I3e’s 30th round bid is likely?

[buffythebuffoon] 25/2/2018 09:57

Indeed, funding confirmation could take place anytime.

Of course, 8 weeks takes us to 28th March. An RNS then, confirming success in the assets bid for in the 30th round and full funding, would be quite acceptable.

Buffy

[showme01] 25/2/2018 08:30

Well I expect the share price to start rising at some stage this week as we enter T20 territory for those that want the uplift without committing capital.

The GM on Tuesday is to amend the loan notes and I suspect everything else is sorted for the funding but this is part of the process to proceed.

31st Jan RNS said 6-8 weeks expected to be completed, that's 14th March onwards but it could be any time after the matters are concluded on Tuesday at the GM.

Assuming the $200m funding deal is announced soon, where the share price goes is anyone's guess.

[euclid5] 24/2/2018 18:07

Amazing Matd has a cap of over £57m, with drilling 4 exploration wells later this year
But fully funded to drill them all

i3E is £22m with 1st oil later this year on 10,000bopd with a 2nd asset of another 22mmbls - approx £500m net to them at 67% wi

[che7win] 24/2/2018 11:17

Showme and others,
This is a great board, I appreciate the efforts here.

A hidden gem.

[i like trees] 24/2/2018 11:02

An exciting few weeks ahead of us

[stamford hill] 23/2/2018 19:26

Thanks showme01 for all your efforts. Regards..

[mr. t] 23/2/2018 18:58

showme01, I’ll appreciate any comments you can write on this bb after your conversation with i3e. Thank you!

[duckdown] 23/2/2018 18:38

Nice one, thanks

[showme01] 23/2/2018 17:14

Duckdown. To be honest my main questions are geared around drilling this year still on track and what is left to do. I will post on here.

[duckdown] 23/2/2018 16:13

showme01 could you double check with him that the schedule is still for first oil in Q3? Also do we have a rig contract in the pipeline?

Thanks

[showme01] 23/2/2018 15:50

No. Just the formalities of the GM but Graham i taking it and available afterwards so I am going to have a chat about a few things. He can only say what is in the public domain but I hope to get a better idea on strategy etc

[5chipper] 23/2/2018 15:30

Showme -

Is there an investor day taking place on Tuesday?

[euclid5] 23/2/2018 12:26

5Chipper, about the $200 capex

The Liberator field is planned to be developed via 2 horizontal producers in Phase I, targeting the Main and Northwest culminations of the Phase I area. A separate potential future Phase II plan is contemplated and may include further development wells, yet these potential reserves are not reported within the RR.

The Resources Report also confirms that a mapped extension of the target that lies above an established oil water contact offers further appraisal drilling opportunity to evaluate potential additional Prospective Resources, with a Mid case STOIIP of 135 MMBO that could provide potential Prospective Resources of 47 MMBO. The mapped extension and resulting Prospective Resources have been ascribed a 51% chance of commercial success(3).

This falls in the 30th Round West asset of 47mmbls

The 22mmbls is the 30th round East asset

so perhaps the $200m includes the drilling/ production costs of the 47mmbls

see pg 10 of presentation

hxxps://i3.energy/wp-content/uploads/2017/03/20171108-i3-Corporate-Presentation.pdf

[showme01] 23/2/2018 12:11

Tight spread atm 66.2 to buy and 65.75 to sell. 10k limits online

[basem1] 23/2/2018 10:08

Bought my topsliced 74p ones back at 66p this morning. Hoping the pullbacks finished now.