I3 Energy Share Discussion Threads

[honestmarty] 18/9/2019 09:48

dc2345
No, it is £150k and the cap is low.
I'd have to make 5 or 6 online buys and it would push up the price.

[ducati2345] 18/9/2019 09:40

Lol honest Marty. If it’s that big then you should be using a proper broker not an online one just buy em. Unless you’re buying a million quids worth it won’t make any odds

[ducati2345] 18/9/2019 09:36

Oh please stop spouting nonsense about possible share price rises, drops etc etc it’s boring and pointless

[hairballradical] 18/9/2019 09:27

Puffet,

that crossed my mind too.

Mpls - very reassuring post thanks

HBR

[muddyfox0151] 18/9/2019 09:16

Jammydodger surprise, you not , been here , for some reason you go on every loser board ..

[tournesol] 18/9/2019 09:12

NED's do not do operational stuff like day to day running of accounts if they did they would lose the objectivity and ability to exercise dispassionate judgement which is the reason they are appointed in the first place,

[rumobejo] 18/9/2019 09:10

hola, who wants 30p? Sbb1x wife was saying 42p the other week, surprised he moved on so quick

[5chipper] 18/9/2019 09:02

Wondering if NED was ushered in yesterday to look after day to day running of accounts with GH flat out with drilling operations / finance negotiations

[flawlesskicks] 18/9/2019 09:00

She's about to move up again...looks like that 30p test is back on. Get through it and clear sky to 40p area on the chart. Lots of fence sitters waiting for the reversal to kick in before buying back imo...should be a really good end to the week!

[puffet] 18/9/2019 08:59

Seems stupid for a drilling rig to sit and wait if its been plugged surely it would move to the next location unless of course they have decided to sidetrack.

[honestmarty] 18/9/2019 08:55

Any advice on best way to make a large buy on a stock?
If I split the trade up each buy will push up the price.

[muddyfox0151] 18/9/2019 08:47

Flaw ... is what ever , been holding 12 month, 70,000 shares , holding to end ... 2 for 1 now , good on use ? Still the same risk , for everyone....

[puffet] 18/9/2019 08:44

We were due to plug and abandon over the weekend was my understanding.
Why is the Borgland still sitting there and why no sign of the anchor handlers?
Seems strange that we are not moving to the next drill?

[flawlesskicks] 18/9/2019 08:38

Muddy - Like I told him last night - bad time to open a short here...should have done it at 55p.

Now is time to be long here with 70%cos drill coming up!

[tsmith2] 18/9/2019 08:19

More than hopefully will be spelt out by the company

[flawlesskicks] 18/9/2019 08:18

Looks like it will be a good day today. Price moving up already and some stability returning.

[tsmith2] 18/9/2019 08:17

excellent post

[mpls] 18/9/2019 08:02

Reminder.

BigBiteNow

At times like this it is important for investors to ensure the fully understand the facts as they stand.

The COS that is paraded around for the LP2 pilot well is of little use because as Oil Man Jim has already pointed out the pilot well "was a stratigraphic test well, drilled solely to gain structural information"

The 84% being quoted here from the WH Ireland broker note from January is of no use whatsoever. It was produced when the 3 well programme involved an actual production well LP2. The closure of the Junior Debt Facilty brought about a change to that plan and the introduction of the pilot well.

RNS 16th Jan 2019 Announcement of New Corporate Presentation

Slide 6 clearly shows the programme and states "Liberator L2 Production well"

Slide 8 goes on to say "Borgland Dolphin semi-sub for first development well (L2) and appraisal well (A3) drilled in summer 2019"

Followed by ;

"Second development well and pipeline installation to be completed early 2020 with first oil expected summer 2020"

So the plan at that point was for LP2 to be drilled as a horizontal production well but to be brought on stream in 2020 with the 2nd production well and pipeline.

But by the time we get to the RNS 9th April 2019, the plans has changed ;

"i3 plans to drill the A3 appraisal well first, thereby fulfilling its licence obligation in Block 13/23c ("Liberator West"), followed by drilling the Liberator Phase I L2 pilot well and finally the S1 appraisal well into the Serenity prospect."

"This drilling campaign is intended to:" (amongst other things)

"determine the placement of the second Phase I production well (either L4 or L1) planned to be concurrently brought on stream with the L2 production well in 2020 at potential combined rates of approximately 20,000 barrels of oil per day"

The order of play changed again later with the pilot well coming first but the key message here is the change from LP2 production well to pilot well.

Therefore the note from WH Ireland talking about 84% COS was actually referring to the full horizontal production well, which whilst drilling through the pilot well zone, also picked up known oil accumulations in other areas of Liberator Phase 1. So to simply say that LP2 has failed is incorrect. To be a successful drill it has to produce commercial levels of oil. It would have done that even if the the pilot zone failed as it has done thus far (surveys and data still to be announced).

So the COS is irrelevant because investors are attempting to compare a vertical drill with a horizontal drill that picks up far more zones. Hence why I3E now say LP2 should still be available to them be it not in the same place.

LP1 is very much alive , LP4 requires the A3 drill but is accepted through the CPR as being reserves if a development plan is in place, which it is. LP2 will add reserves but its position must be reviewed.

So the scheme is alive be it it requires a solid review.


To be absolutely clear.

The WH Ireland note is based solely on the scheme as it was known in January 2019.

That scheme involved the drilling of a horizontal production well through the LP2 zone identified on slide 5 of the January presentation.

It had a very solid chance of hitting commercial oil because it would run into oil zones already confirmed through the original oil discovery.

Losing the zone around the pilot drill means that the LP2 production well will lose an amount of its reserves but not all of it because of its length and where it runs through.

Until we know where the edge of the channel truly is we simply do not know how much oil is attributable to LP2 and therefore its chances of being picked as one of the first 2 production wells or the third that is planned to come on line in 2021.

LP4 may just usurp it anyway because a successful A3 would confirm the reserves set aside for LP4 but could actually increase this further. A3 could also de-risk the zone immediately West from the drill centre, which could lead to a further re-think on the Phase 1 development. Until A3 is drilled we don't know what options I3E but the message is that the options are there even if the noise wants to concentrate on potential failure to achieve the Senior Debt Facility or A3 carrying greater risk.

What that does is completely ignore the fact that oil is there in Phase 1 and the story is now about what options I3E can implement to extract it. To simply take the Senior Debt Facility as it stands and say it is all or nothing is frankly just silly.

To even attempt to dismantle the company before we have even seen the L2 results in full and heard the company's thoughts on the revised reserves is simply wrong. I will guarantee that the more informed contributors here that are casting doubt over the whole business, really truly understand that there is still a solid business case here and are simply wishing to have a piece of it as cheaply as possible.

We are talking the captains sands, a prolific world class sands that is highly porous and that is not only clearly shown as existing under the larger body of Liberator but is far thicker than on Blake. A miss on a very narrow section of the field does not take that away. It questions the model and it certainly causes doubt but the main Liberator area is substantial and the COS is strong for a very good reason.

[stocktrend1] 18/9/2019 07:58

8p Broker target for Mpm a few months ago (sp under 1p)
Commercial agreement
Directors daughter bought £20,000
Asian institution bought £500,000
Tax rebate due
More news coming

[flawlesskicks] 18/9/2019 07:31

Baker Hughes is only getting paid after first oil - have warrants at over 56p and are doing the work based on success at Liberator and Serenity - now why would they have done that?

"Baker Hughes is just over 50%-owned by General Electric, and is one of the world's largest oil field services companies.

It will carry out drilling work at both the Liberator and Serenity fields in the UK North Sea as well as for the phase one development at Liberator in 2020.

Baker Hughes' work for i3 will include directional drilling, drilling fluids, mudlogging, formation evaluation, and wellheads.

i3 said Baker Hughes has agreed GBP3 million of oil field service and oil field equipment payments will not be paid until i3 gets first sales from Liberator phase one. However, i3 has issued warrants up to a value of GBP3 million, exercisable at 56.85 pence each."

[flawlesskicks] 18/9/2019 05:43

To all longs... Remember, this guy is doing everything he can to scare you. As you sell, he makes money... If you don't sell, he closes his short and moves on. He doesn't get paid until his short is closed.Best to ignore him and wait for the 70% cos drill result.