I3 Energy Share Discussion Threads

[brooko19] 20/3/2018 08:55

I don’t think it’s CF I think it’s JCAM forward selling loan notes..

[scotty666] 20/3/2018 08:54

Looks like PI with 5k lots to be honest and who can blame them it has risen significantly of late. Been here for months and not about to sell out now, pretty confident they will come up with a decent funding proposal as planned by end of Q1. No doubt being AIM will be a couple of twists and turns as the spivs will need their champers money but once the oil gets pumping then will continue north.

[ducati2345] 20/3/2018 08:49

Trouble is ive been hearing this its cf selling off lark for 2 weeks now, there's no tr1 so am doubting its them but I do agree that it will stop but hod knows when

[a2584728] 20/3/2018 08:33

Be patient my friend. You will see 120p soon enough. There is a seller so once cleared off they go

[scotty666] 20/3/2018 08:20

Dam, thought that was going to finally break 80p yesterday. Never mind news not too far away.

[caters] 19/3/2018 16:47

More sold today by the II (?) wanting out.

They'll be gone soon, hopefully, and the climb north should continue

[begorrah88] 19/3/2018 11:14

Seems like it!

[broadbean78] 19/3/2018 11:05

I'd say that's about another 50k done Beg.

[begorrah88] 19/3/2018 08:59

Usual stuff today

I think most of the 2500 and 5000 trades are sells and have been for a few days now just puzzled that we haven't had a CF holding update if it is them

Whoever it is has been averaging 50000 per day so I'd say another 15000 to go yet today

EDIT

Just seen that 15000 sell from earlier go through so that is 50000 for the day if I'm right

[5chipper] 19/3/2018 08:22

Nice start to the week.

Will be good to have funding news drop whilst there is positive momentum with the sp

[showme01] 19/3/2018 06:31

Bopd could be huge in 2019. The reason behind such a large $200m facility is to aggressively drill Liberator with a multi well strategy as well as drilling the 30th Round Licence block, assuming success in their bid.

[thegreatgeraldo] 18/3/2018 23:15

ZENGAS
17 Mar '18 - 10:09 - 927 of 938
0 9 0
Page 4 of the i3e presentation "over 10,000 boepd (3)"

(3) = initial production rate from Liberator LP1 well.

Initial well production will be at it's greatest in early life.

i3e show on Page 7 of the same i3e presentation a steady production profile of 9200 bopd from Q4 2018 - mid H1 2019 and with LP2 production then taking it higher

....../

/....


From 3/11/17 - Only 11.7 mmboe (10.7 being oil) is included in the phase 1 reserves report

.......Initial (flush) production is one thing, sustainable production another. Worth bearing in mind that 10k bopd is 3.65mm bbls pa. P2 reserves for Liberator are put at 10.7 mm bbls.

[showme01] 18/3/2018 23:03

It's simple. This is still under the radar. Been speaking to someone this evening who was responsible for GWIK investing in i3e.Great times ahead once funding confirmed. Those more researched knows this is a slam dunk.

[5chipper] 18/3/2018 16:28

Very much looking forward to the coming week. Let's hope we move firmly north of the current high levels :)

[showme01] 18/3/2018 15:14

Fill your boots time. Won't be sub £1 after funding. Should be north of £2 if they secure terms outlined in 31st Jan RNS.

[mr. t] 18/3/2018 15:11

Sep 20 2017.

[goodbloke1] 18/3/2018 14:33

When was that presentation given please?

[mr. t] 18/3/2018 14:22

Graham Heath talks about the possibility around 18mins and again 23mins of his shares magazine presentation.hTTps://www.sharesmagazine.co.uk/video/graham-heath-cfo-of-i3-energy-i3e

[showme01] 18/3/2018 07:41

What tax losses did you have in mind?

[mr. t] 18/3/2018 02:30

On another note, has anyone any thoughts on the likelihood of i3e being able to acquire assets/companies with tax loses that mean Liberator profits can be tax free?

[mr. t] 18/3/2018 02:28

It looks like the NPV calculations in the competent persons report have used the conservative production figures - and these NPVs are then used by i3e. So if 10k boepd is hit in q4 2018 then the p2 NPV10 of Liberator will be higher than the $328m pre tax/ $200m post tax quoted all else being equal.So I think there's upside to the Liberator NPV valuation, purely based on i3e delivering what they say they'll deliver.

[caters] 18/3/2018 00:46

Anything north of 6.3k boepd is great with me.

[mr. t] 18/3/2018 00:12

ZENGAS, thank you for your helpful comments. You're right the cpr does say 10k b/d on p.38. Confusingly a graph on p.41 shows mid case production starting at 8.5k b/d, then dropping to 3.5k later in 2019, before increasing to over 10k b/d in 2020.So I make that 3 contradictory sets of initial production figures for Liberator phase 1 in AGR TRACS cpr (6.3k, 8,5k, and 10 b/d), with no explanation for the differences.

[zengas] 17/3/2018 10:09

Page 4 of the i3e presentation "over 10,000 boepd (3)"

(3) = initial production rate from Liberator LP1 well.

Initial well production will be at it's greatest in early life.

i3e show on Page 7 of the same i3e presentation a steady production profile of 9200 bopd from Q4 2018 - mid H1 2019 and with LP2 production then taking it higher and if the 30th bid round has come in - exceeding 20,000 bopd.

As for the Tracs CPR report on Page 38 it actually states re the 2 wells -

'Maximum oil rate 10,000 bopd for LP1 on stream ie at 1/1/19. Gas lift rate 2 mmcf/d (333 boe gas/day).

'LP2 on stream 1/1/20 at Maximum oil rate of 10,000 bopd'. Gas lift rate 2 mmcf/d (333 boe gas/day).


The 1/1/19 (9 months) and 1/1/20 are just focus dates that the CPR team use - ie why would 2 wells come precisely on stream on the 1st of January in each year. The company plan is to have LP1 on stream H2 this year (4th quarter as stated on page 7 of the 13e presentation).

From 3/11/17 - Only 11.7 mmboe (10.7 being oil) is included in the phase 1 reserves report.

In addition to this released on that same date re Liberator -

"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."

Imo with phase 2 of Liberator, the production profile could change significantly.

[mr. t] 17/3/2018 02:29

I’m trying to understand I3e’s forecasts for Liberator, and some production flow figures don’t match.

On slide 6 of their corporate presentation, I3e management show expected H2 2018 production is above 10,000 b/d. However, p.52 of the Liberator competent persons report shows p2 production of oil starts in 2019 at 6,300 b/d. P.64 the competent persons report shows 2019 p2 production is 2.29 mmbl/year, which also equals 6,300 b/d.

(Both docs can be found at

I presume AGR TRACS, who produced the competent persons report, was given data by I3e and I3e agreed to their report.

What’s the reason for I3e management to show >50% greater initial production figures than AGR TRACS, and for management to show production starting one quarter before AGR TRACS?

Are I3e management being optimistic, AGR TRACS pessimistic, or am I missing something?