I3 Energy Share Discussion Threads

[greyingsurfer] 12/9/2019 12:45

I hadn't even considered the fact that they could still damage the share price by drilling in the wrong place after we were told 90% CoS.Where does the 90% cos come from? I can find no mention of it, and no one was able to confirm it when I asked the other day. It seems an improbable figure.

[tournesol] 12/9/2019 12:30

IMHO the problem here is that management have demonstrated a serious lack of judgement on three different fronts:-
financial;
technical;
strategic.

Their financial misjudgement has removed their room for manoeuvre and flexibility and left them under the thumb of the lenders.

Their technical misjudgement has led to them completely missing the drilling target This might be understandable for a wild cat exploration well. But for an appraisal well of a previous discovery, it reflects staggering incompetence.

Their strategic errors include the sequence in which they have programmed the drilling; the recklessness of knowingly drilling on the extreme edge of the target structure (as they thought); their hubris in telling the world it was a 90% CoS slam-dunk. Had they adopted a less aggressive strategy, they would have massively reduced the risk.

If they were a well established company with proven reserves, established production, reliable cashflow and a large portfolio of assets at varied stages of the lifecycle they might be forgiven for getting the odd thing wrong like this.

But for a new kid on the block to make such egregious errors indicates deeply flawed management and undermines any confidence that could be placed in the remainder of the assets/drilling plans.

Could the next well be another failure? Of course it could.

Could the drilling contract over-run so the third well gets left unfinished? Of course it could.

Am I going to leave my hard earned money in the hands of such incompetents in the hope that they will turn this around? Of course not. There are better bets out there.

If the next 2 wells produce good results then the company can still make a success of things. But I prefer to follow the old adage:

"Fool me once, shame on you,
fool me twice, shame on me"

Good luck to those who remain.

Adios from me.

[muddyfox0151] 12/9/2019 11:35

It's too much information , go on google LSE I3e page 9

[mbdx7em21] 12/9/2019 11:27

muddyfox - can you paste on here?

[sbb1x] 12/9/2019 11:16

You keep convincing yourself that 20p is coming before 42p. We will see who is right. Now you are on filter as you are a Bunny Boiler.

[muddyfox0151] 12/9/2019 11:11

All should read BIGBITENOW'S POST 0949 on LSE [ and his posts yesterday ...

[sbb1x] 12/9/2019 10:54

Current mkt cap less than 27m with 33 million in the bank.

[honestmarty] 12/9/2019 10:53

Disappointed with share price today.

The bounce is coming but when?

Very interesting RNS from SAVP this morning. Worth a little research.

[mbdx7em21] 12/9/2019 10:48

vast?

wonder where the volume on the day of the update came from.

looking forward to the update on monday

[anley] 12/9/2019 10:29

It just goes to show that if a management team gets it wrong then the so called institutions will sell out..........

Miton - yet again and Lombard Odier - yet again.

No chance of a dead cat bounce until this vast overhang is out of the way.

[theprovosts] 12/9/2019 10:28

From SHAREPROPHETS
Interesting read - although slightly sceptically the author was previously invested and sold out yesterday.

------------

Im assuming thats the same Shareprofits Author that said we should all sell SAVP at 14p because of regulatory issues. Clueless.

[glavey] 12/9/2019 10:09

che7win
12 Sep '19 - 07:52 - 11635 of 11666
WHI this week shows 268p valuation on successful Serenity drill and 90p valuation for A3.

che7win
12 Sep '19 - 07:52 - 11636 of 11666
Broker note.



For che7win and anyone else having a problem reading:

WH Ireland Limited (Nomad and Joint
Broker)

[sbb1x] 12/9/2019 10:01

So you want mkt cap to be 18m when the company has 33 million in cash. Good luck

[corgies2] 12/9/2019 09:57

All should read BIGBITENOW'S POST 0949 on LSE [ and his posts yesterday ]

[nametrade] 12/9/2019 09:55

So LOM reduced.
Still circa 12m between them.

[gisjob2] 12/9/2019 09:27

Divmsd,

What accusations have I made against you exactly ?

Surely it was your accusation I was talking it down looking for an entry point ! Enough said

[tsmith2] 12/9/2019 09:27

Volume notably less

[rumobejo] 12/9/2019 09:19

dear oh dear, one member of ramp gang went private, that is not how it works, the gang will soon expel you



Spurssssssssss

[sbb1x] 12/9/2019 09:09

So you believe 20p a share what equates to 18m mkt cap when we have 2 fully funded drills coming up and the next 1 starts next week. Good luck.

[divmad] 12/9/2019 09:08

Gisjob, I'm not interested in reading all your past messages because I think you're a charlatan, making accusations against me when I declared I'm fully loaded here. I was in before the RNs but doubled up on Tuesday, ok?So go eat your words, no one here cares.