I3 Energy Share Discussion Threads

[russiaguru] 21/9/2019 11:01

Slightly strange they didn't apply for the permits beforehand, like last weekend, opposed to waste another 10 days.

I think serenity is worth a punt possibly with a rise to 38p over the 20 days of drilling.

Downside before the drill could be 18p if lombard decide to bail, although i reckon they will remain for the at least the serenity drill.

[shorterofdoom] 21/9/2019 10:55

Binary and nothing more. Rampers are so deep underwater they are desperate to draw punters in to buy. Just think if the useless board put in permits for S1 & A3 they could have called on me permit off, instead they didn’t and banked everything going good at L2. Now they sit draining cash waiting for a permit

[shorterofdoom] 21/9/2019 10:44

The contingency is the 3rd well. If they run out of time they will not have enough cash to drill it. You decking reduced staffing costs until 7th October save £8m what the hell are you smoking? They are well and truly screwed and will have to place at a massive discount to drill a third well. Watch and see

[underdog1] 21/9/2019 10:38

Good luck to all who remain. I’m personally astonished by yesterday’s poor RNS and have decided to sell up and leave with my tail between my legs. This is now worse than a binary bet as far as I’m concerned.

[flawlesskicks] 21/9/2019 10:26

That's £3million plus the contingency plus the reduced staffing costs. It gets you around £8million or 20 extra days added on the end if needed.Im sure BBN will say thd same when he is back from his holiday on Monday and posts on lse.We have plenty of time and plenty of money. If Serenity doesn't hit I think we will get to 15p but expect to be back we'll over 30p before the results. If A3 doesn't hit then around 5p...success case Serenity £1 40, A3 around £2. I can deal with the downside of a miss... Can you deal with the upside of a strike? It will be very expensive for you... LolA3 after all the additional processing should be a cracking drill. Hopefully after senerity strike!

[flawlesskicks] 21/9/2019 10:16

Lol... Not really. I know what I invested here for. I'm only around 10% down and see this level as a very good investment level using my rational head. Others are being spooked by faceless trolls with vested interests. In the end, the drill will do the talking and that's why I am here. Not to take advice from Shorters who make money only when pi's sell and the price falls. Why would I listen to their interpretation of the facts? They are biased on thd other side and jot ligbed with my view.I know the risk here and the reward. Spud in the next week or so and then I expect sentiment will shift as we await the results of Serenity. If we strike oil, I can see huge rewards from this level and thats why I will remain. I've been 60% down on Aim shares before with people telling me I'm doomed and I've later walked away with 300% profit. Time to look at the facts and not be drawn into stupid debates with faceless trolls.

[shorterofdoom] 21/9/2019 10:14

I’m looking at sub 1p when S1 is a duster, then massive discount placing for A3 which again will be a duster. 3 dirty water wells that’s all this shambles will.

[shorterofdoom] 21/9/2019 10:12

And what exactly does 3 million get? Nowhere near enough to fund A3 after S1, it even close. They have to place and it will be at a massive discount

[saw89] 21/9/2019 09:59

Flawless kicks,

Suggest you google the term ‘confirmation bias’

[flawlesskicks] 21/9/2019 09:49

He was probably one of the Shorters on Ithaca when it went to 12p...sold 2 months later for £1.20 a share.Hold your nerve and wait for the results of the two drills imo.

[flawlesskicks] 21/9/2019 09:48

Rubbish.They have a contingency and the £3million as a backup. They have not overrun on L2 and Serenity is a slight overrun due to waiting a few days for licence. Absolutely not a problem at this point. Of course they may hit a snag on either of the next two Wells... It is a possibility and if ig happens, we would need to deal with that when we get to it. They may also have two strikes and create huge value for shareholders as was done at Ithaca with an eventual buyout at £1.20 a share with $600million of debt.They are looking to replicate that success over the coming years and I will wait for the results of these Wells. Looking at well over £2 if both Wells come in.

[muddyfox0151] 21/9/2019 09:47

Relentless deramping , sad really ..

[shorterofdoom] 21/9/2019 09:38

Haha are you for real. I suggest you ask your beloved board who will tell they you they only have secured 94 days with their current budget. Beyond 94 days is in addition to their budget. They did say that at the AGM clear as anything, that’s why it was asked. They also said they changed the drill from A3 first to L2 incase they hit any issues. That way they would have 94 days to sort out L2 if there were any problems during drilling. If they did A3 first then I’ll hit snags on L2, they would have much less time. Also question yourself regarding drilling, if they hit snags in all 3 wells and say they took 60 days each, you’re trying to say i3 wouldn’t have to pay for the extra time? Haha you really are clueless

[flawlesskicks] 21/9/2019 09:34

£3 million extra cash in the bank from Baker Hughes taking cash on first oil.I would assume a 10% contingency at least so £7.5million contingency.That's about 20 days contingency... Plenty of time.As for A3. Of course thet would go for Serenity first and give themselves a month to go over all the data. Even if they were 100% sure, they have the VSP and additional seismic map to integrate just to make doubly sure the next well is nailed on!Why on earth would you not do it this way? People would rather they just drill the well without taking the month to look at all the additional info? Just utter stupid talk! I don't believe for a minute that these people are actually being serious. These are ploys to get cheaper shares 100%.

[tiler1] 21/9/2019 09:32

They have enough cash to drill all 3 wells and any overruns . Also rig contract can be extended beyond the 94 days. Only thing I3 are desperate for is success on S1.

[shorterofdoom] 21/9/2019 09:29

They do have contingency but have blown it, hence can now only drill 2 wells in the 94 days. They now need more cash to drill the 3rd. It’s extremely basic stuff this. I3 have only secured 94 days with the current funding. They will only do 2 wells in 94 days. They are in desperation for more cash

[gmgrant09] 21/9/2019 09:20

I3 would have had some contingency as stated by flawless. There is always some sort of hold up/delay in drilling. I am not sure why there is concern being raised due to drilling serenity first, this is the sensible option to do giving time to assess all information prior to A3. A lot of negative discussions but with a lower share price I have now bought in to my max, as stated by flawless also that the risk at this price is a lot less. There is some daft statements being said, as in the drill crew have been sent home lol. Down manning is just getting rid of the non essential personnel from the rig to reduce daily costs. Add up all the day rate charges for people sitting doing nothing on the rig and i3 will be saving a lot.

[shorterofdoom] 21/9/2019 09:15

By reduced rate you mean a standby rate, which is an insignificant amount less. You’re talking a 5% discount at best. The contingency is built in to the programme which they used all of LPt-02 during the drill by installing the contingent casing. As soon as they hit 94 days, they have to pay more money than budgeted for to keep the rig on station

[saw89] 21/9/2019 09:14

R3E - Roulett3 Energy

What keeps bugging me is:
1) Failure to attract a JV partner for liberator after the data room period
2) Serenity was then introduced as a new prospect in October 2018
3) We now know that because A3 is not being drilled next, they have no confidence in their map of liberator.
4) Recent RNS continue to be adding confusion instead of clarity.

Is liberator not actually viable? Is that why they are fooling about with Serenity?

Truth be told, the financiers are in this for 20k BOPD production from liberator, not drilling wildcats.

Puzzling.

Some people need to stop talking their books and look at these events with more scrutiny.

[gaffer73] 21/9/2019 09:12

Where has this 7th October date come from?

[tiler1] 21/9/2019 09:07

They do have a contingency built in for any over runs. This was confirmed at both the GM and AGM recently. On top of that I presume they will have the Baker Hughes 3M should it be needed which is unlikely.

Whilst the rig is static between drills they have a reduced day rate any way.

[flawlesskicks] 21/9/2019 08:56

A bit like talking to a wall talking to you. They have a contingency built in and also £3million deferred payment by Baker Hughes. So around 10-12 days additional that they can utilise if needed. They will not need to do a placing. I will be contacting the management next week to confirm that enough funds are available for the two Wells but you are just speculating in order to de ramp the share price. That's the side you are on so good luck to you. I will remain fof both drills which are funded and have high cos.

[shorterofdoom] 21/9/2019 08:39

It’s the content of the RNS which has caused mass panic and a sell off. They have sent the drill crew home. The rig is sat there waiting for a permit. The earliest start date is 7th October it’s in black and white on the regulators website. Nothing is happening between now and then. They are hemorrhaging cash sitting waiting for a permit. When they finish S1 they need funds to drill A3. They have no option but to fund raise. The fund raise will be before S1 results as they can’t take the risk in waiting for a duster RNS then not be able to raise