I3 Energy Share Discussion Threads

[muddyfox0151] 14/10/2019 16:30

If S1 fails we are all losers , doesn't matter what your average is ...

[russiaguru] 14/10/2019 16:29

around the 32p mark, finger was close to averaging down due to it being just a pilot hole but luckily i didnt commit.

Am just very annoyed with the management of this company and hence expect and worst.

[bigsi2] 14/10/2019 16:26

Well with hindsight and a little foresight that was the smart move to take the loss- At what 30p?

[russiaguru] 14/10/2019 16:22

okay loaded dice.

I am not deramping, sold out at a loss on the last drill news.

[bigsi2] 14/10/2019 16:19

It's not deramping to acknowledge and comment on the current risk. It's pragmatism!!

[bigsi2] 14/10/2019 16:17

It's possible -Given the past performance I wouldn't like to be rolling the dice on this one.If SA-01 fails to deliver then with the likely cost overruns to date and failure to unlock senior debt it looks like a further fund raise could be on the cards.

[tsmith2] 14/10/2019 16:16

Derampers in full swing

[russiaguru] 14/10/2019 16:15

pure dice roller, maybe the fall today is just to make sure no spreadbets are open or CFD's so that the skies are clear ahead.

[begorrah88] 14/10/2019 16:11

News is also bad news for i3e shareholders!Most of the time when they put out an RNS the share price ends the day down. Often due to them being full of ambiguity & completely lacking in clarity.I initially thought their comms were just clumsy but then I realised they were deliberately opaque to obscure the real position.

[bigsi2] 14/10/2019 16:06

No news is always bad news -These useless clowns would be falling all over themselves to release anything like positive seismic results.

[begorrah88] 14/10/2019 15:53

Worst case for me Cash would be them stating that the data has informed of nothing more than that their seismic modelling has proven completely wrong & now casts serious doubt on all their calculations & expectations.That is effectively where we sit now in the absence of statement to the contrary.I think the post drill duster video was more wishful thinking and denial of what had happened than any informed summary.

[russiaguru] 14/10/2019 15:49

its a complete screw up either way, missed target, S1 (guess 9.8m of oil market interpretation, so not commercial) and drill 3, not even confirmed considering getting close to 60 days in on a 90 day schedule.

[cashandcard] 14/10/2019 15:45

beg,


Worst case scenario here for me is they announce the modelling has led to confirmation the reservoir is not as extensive as expected and Liberator is a smaller pool than first thought. This is pretty much what MS alluded to in that post duster interview. Reserves around the vicinity of the duster will need revising.


Cash

[begorrah88] 14/10/2019 15:40

The BoD could update the market on what they have learnt from the seismic data like they said they were going to do in 2 separate RNS (MS 'we look forward to updating...... ) and also the proactive video where they said they were going to review the drill results and update the market but we've had jack.

In i3e terms that is never a good scenario, they never fail to disappoint.

[tsmith2] 14/10/2019 15:33

and here's what the company put out recently on liberator i3 Energy PLC Interim Report for the period ended 30 June 2019Source: UK Regulatory (RNS & others)TIDMI3ERNS Number : 0940Oi3 Energy PLC30 September 201930 September 2019i3 Energy plc("i3", "i3 Energy" or the "Company")Interim Report for the period ended 30 June 2019i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce the results for the period ended 30 June 2019. A copy of the Company's unaudited interim financial statements will be available shortly on the Company's website at https://i3.energy/.HIGHLIGHTS:-- Completed equity placings, raising gross proceeds of approximately GBP19.15 million prior to expenses-- Repaid all outstanding convertible loan notes totalling GBP433,153 in principal and paid interest in accordance with the terms on the maturity date of 31 March 2019-- Conducted a site survey for the 2019 multi-well drilling campaign at Liberator and Serenity and future Liberator Phase I development-- Closed investments with funds managed by Bybrook Capital LLP, BP Oil International Limited, Lombard Odier Investment Managers group and James Caird Asset Management for a GBP22 million loan note facility-- Entered into a contract with Dolphin Drilling for the Borgland Dolphin semi-submersible rig for a 94-day drilling programme commencing in Summer 2019, targeting two wells on the Liberator field and one well on the Serenity structure-- Executed a crude oil offtake and marketing agreement with BP Oil International Limited to market i3's crude production from the Liberator field-- Continued negotiations with RSRUK to finalise offtake terms for the Bleo Holm FPSO and progressed documentation with the OGA for the Liberator Phase I field development plan -- Worked with the supply chain on development design and engineering -- Continued sourcing long-lead equipment and services for i3's appraisal and development programmePOST PERIOD EVENTS:On 2 July 2019 the Company Awarded Baker Hughes, a GE Company ("BHGE"), contracts for its 2019 summer drilling programme on its Liberator and Serenity assets and its planned 2020 Phase I development of Liberator. BHGE's scope included directional drilling, drilling fluids, mudlogging, formation evaluation operations and wellheads. In connection with the award, BHGE agreed that GBP3m of oilfield service and oilfield equipment contract payments would not become payable until such time as i3 has received its first sales revenues from the Liberator Phase I development. As part of this transaction, the Company will be issuing to BHGE warrants up to a notional value of GBP3 million at an exercise price of 56.85 pence per ordinary share, totalling up to 5,277,045 warrants if fully issued. BHGE can exercise the warrants via cash settlement or in exchange for payments due under OFS or OFE contracts with the Company.On 14 August 2019 the Company announced that the Borgland Dolphin semi-submersible drilling rig had completed its acceptance testing. The Borgland started move preparations on 14 August 2019 to begin transit towards the Liberator field to commence drilling operations.On 22 August 2019 the Company announced that the Borgland Dolphin semi-submersible drilling rig had arrived on location at the Liberator field and that the 13/23c-9 (formerly known as LPt-02) pilot well had been spud.On 10 September 2019 the Company announced that the 13/23c-9 pilot well had reached total depth at 5818 ft True Vertical Depth Sub-sea (TVDSS) in the Valhall formation. The objectives of the pilot well were to enable a future development well to be positioned at an optimal location in the upper Captain sands channel in the south-eastern area of the Liberator field. Preliminary petrophysical information obtained from the Measurement While Drilling (MWD) tools indicated that the targeted upper Captain sand had not been penetrated and was pinched out at the 13/23c-9 location. The lower Captain sand was present in the well and was below the estimated oil water contact as expected. On initial tie to the seismic data, the well appeared to be located proximal to the main upper Captain channel fairway with further well data required in order to interpret and locate the key reservoir upper Captain channel edge. As such, preparations were made to obtain a vertical seismic profile (VSP) in the well and to also run a shear wave sonic log, after which 13/23c-9 would be plugged and abandoned as planned. This data would be used to recalibrate and update the existing seismic model such that options and plans for further operations at this location to meet the objective of locating a future development well in the south-east area of the field could be evaluated.On 17 September 2019 the Company announced the appointment of Linda Janice Beal as a non-executive director of the Company with immediate effect.On 20 September 2019 the Company announced that the 13/23c-9 pilot well had been plugged and abandoned as planned following completion of the vertical seismic profile ("VSP") survey and shear wave sonic logging, and that the Borgland Dolphin drilling rig would next be mobilised to drill the Serenity SA-01 well upon receipt of necessary permitting from the UK regulators. The rig was down-manned to minimise standby costs. The Company also announced the purchase of a recently processed 3D seismic data set that would be integrated into its modelling ahead of drilling the LA-03 appraisal well at Liberator. This newly processed seismic has the characteristics necessary to allow an inversion process to be applied, enabling additional interpretation of the channel sand architecture. The processing and interpretation of this new seismic data has begun and will continue while i3 is drilling the Serenity SA-01 well and will be integrated with i3's existing mapping to confirm that the planned LA-03 well, situated in the western part of the Liberator structure, remained at an optimal location.

[tsmith2] 14/10/2019 15:31

What do you want them to do, issue an update each time the share price falls?What new info will they have at this moment in time? The drill bit is turning and we await the updated seismics

[showmethemoneyhoney01] 14/10/2019 15:12

The BoD are hardly helping. NO PR

[muddyfox0151] 14/10/2019 15:07

Are you back in cos

[costax1654x] 14/10/2019 14:58

Duster or what?

[begorrah88] 14/10/2019 14:49

About 8% of all stock in public hands turned over today & a 14% further fall in the share price Damn those volatile pi'sLooking more like a leak than nerves

[d1nga] 14/10/2019 14:42

Shorterofdoom just trebled up on his short

[muddyfox0151] 14/10/2019 14:41

Desperation somebody just sold 46 shares :(

[muddyfox0151] 14/10/2019 14:34

Holding 53p , not risking any more cash, would be foolish ...

[russiaguru] 14/10/2019 14:30

muddy - you averaging down here or still holding from the 50's