I3 Energy Share Discussion Threads

[costax1654x] 11/9/2019 08:18

See the interview

[russiaguru] 11/9/2019 08:17

Surely this raises issues about senior debt and foil next year as they won't satisfy the terms.

Shocking situation and the video didn't inspire in any way as it is quite unusual to test boundaries without some commercial production to provide additional financial resource.

They preached 90% at all the presentations etc, much higher risk attached to this now :(

[a2584728] 11/9/2019 08:15

Sensible post

[markstevenkirby80] 11/9/2019 08:12

How long will next drill take

[shorterofdoom] 11/9/2019 08:12

Wouldn’t worry about cash. They have spent all the fund raise money in this drill programme. Will have some cash to pay their fat salaries until they tap the market again at a massive discount. Senior debt was contingent on the first pilot which has failed. Dry hole l l. There was no hydrocarbons......... none.... nada

[pembury] 11/9/2019 08:11

worried for next drill now

[flawlesskicks] 11/9/2019 08:06

Sbb1x - I hope so mate. That wasn't exactly a strong open. Keeping fingers crossed for you guys!

[ileeman] 11/9/2019 08:06

Anyone worked out exact cash position post 1st drill?

[highly geared] 11/9/2019 08:05

Dlm , a voice of adult sanity in the kindergarten....

[sbb1x] 11/9/2019 08:05

Rome weren't built in a day.... this will rise back up....

[gisjob2] 11/9/2019 08:03

For the next well location,

Maybe they could superimpose a picture of a donkey with no tail over the top of their model and separately draw a tail and put a pin through it, stick a blindfold on and . . . . .

Then again it seems that was the method they used to pick the pilot hole locaion

[jungmana] 11/9/2019 08:02

That's my view to DLM. The size of the field will be slightly less as majid said in the interview but still lots of oil in there.Good post there

[bountyhunter] 11/9/2019 08:01

That's next, both within a couple of months so not too concerned about the order as will hold until all three 2019 drills completed at least.

[fardels bear] 11/9/2019 08:00

Coulda woulda shoulda gone for the bigger one first..

[dlm2602] 11/9/2019 07:58

Well for me the proactive interview given the circumstances was reassuring. They drilled this pilot well close to what they thought was the boundary but the reservoir was clearly smaller than they had thought so missed it. Both JOG and RBD (shares I hold) have had similar experiences this year. Its disappointing but part of the risk you take when investing in these shares. The seismic that they will now do from within the well will give them a greater understanding of the reservoir characteristics than they had before. As others have said, they know oil is there and it is commercial but the maximum volume will likely be reduced. With regards the other pilot drills, they said that these would be drilled near the centre of the reservoir so they will not have boundary issues. Also the size of these reservoirs are potentially significantly greater. In my view we will see a bounce in the share price today

[bountyhunter] 11/9/2019 07:53

L2 operations due to finish at the w/e then off to A3 which is to appraise a much larger reserves base than L2 which is deemed to have hit the field boundary. L1 and L4 still planned to be developed as producers next year possibly with a substitute L2 and there's the third drill to come at Serenity.

[gisjob2] 11/9/2019 07:52

Sbb1x,

You're deliberately misleading 're potential barrels. MID CASE was 80 million barrels before yesterday and will be less now, HIGH CASE was 230 million but that's less after yesterday and the LOW CASE for the whole of the greater Liberator Area was just 10 million barrels which will also be lower now.

I know you'd like it to be more but that doesn't make it fact.

[costax1654x] 11/9/2019 07:46

Will Be interesting to see the volume today

[jungmana] 11/9/2019 07:40

From the daily mail :"AIM-listed i3 Energy Group had worse luck in its North Sea operations. It sank 45.3 per cent, or 25.3p, to 30.5p, after it said a well drilled to find out how big an oil reserve was missed the reserve entirely. It will go back to its geological data before trying again."Was simply poor choice of well location. Why choose to drill so close to the boundary? Very risky .

[jungmana] 11/9/2019 07:34

https://youtu.be/k2jp7Ch_ikM

[costax1654x] 11/9/2019 07:32

Wrong board

[costax1654x] 11/9/2019 07:32

what column of gas werr they expecting , does anyone know?

[jungmana] 11/9/2019 07:30

Drilled at the boundary and missed. Knew the risk at choice of location for the pilot well .