I3 Energy Share Discussion Threads

[nobbygnome] 08/11/2019 07:28

I think the muppet predicted there would be a rescue fund raising at 5p. He is only 700% out!

[begorrah88] 08/11/2019 07:28

As a LTH can't say I'm not disappointed by yet more confetti being issued with yet more warrants and the extension of the RBL date deadline with the JLN holders.I was hopeful that the tight deadline would hold the BoDms feet to the fire to get on with concluding the RBL & thus FOIL but I'd now imagine that will all be kicked down the road again.Certainly explains some of the crazy trading that has been going on here recently. Wouldn't be surprised if 35p is the new ceiling while the newly issued stock gets dumped into the market.Oh well, same old, same old I3e

[avsome1968] 08/11/2019 07:24

TIDMI3E
RNS Number : 7684S
i3 Energy PLC
08 November 2019
8 November 2019
i3 Energy plc
("i3" or the "Company")
Liberator A2 Spud and Funding Update
i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce the following corporate update.
Highlights:
-- The successful Serenity 13/23c-10 well was plugged and abandoned as planned after the Company retrieved all expected samples and data
-- The Liberator A2 well has been spud
-- The Company has agreed to issue GBP5 million of equity to funders of i3's May 2019 Junior Loan Notes at a price of 35 pence per share via private placement to provide i3 additional flexibility to extend its drilling programme
-- The Funding Long Stop Date by which the Company was required to enter a reserve-based lending ("RBL") facility or to source alternative development financing has been extended from 6 December 2019 to 30 April 2020
Majid Shafiq, CEO of i3 Energy commented:
"We are excited to be drilling again at Liberator on the back of our success at Serenity. The A2 location has been selected as a low-risk target in close proximity to Liberator's two well penetrations, giving us a high-level of confidence when tied into the recently reprocessed seismic that was used to select the Serenity discovery well location.
The Company is also very pleased with the additional funding we've received from our Loan Noteholders. Their continued material support shows a great level of confidence in i3's assets and management team."
Liberator A2 spud
After plugging and abandoning the Serenity 13/23c-10 well as planned, the Borgland Dolphin semi-submersible rig was mobilised to Liberator's A2 location, and the A2 well has now been spud. The Company will provide A2 drilling results to the market when the well has reached total depth and acquired data has been evaluated. The results of the A2 well will allow the location and trajectory of the future LP-02 production well to be optimized and will be plugged and abandoned as planned.
Funding update
The Company has agreed to place 14,285,715 new ordinary shares in the Company (the "Placing Shares") at an issue price of 35 pence per share, raising gross proceeds of GBP5 million. This private placement has been organized by i3 and Bybrook Capital LLP ("Bybrook"), which, alongside certain other investors who participated in i3's May 2019 Junior Loan Notes, should they take up their right to participate, will subscribe for the Placing Shares. Such proceeds will bolster the Company's cash resources as it enters the drilling of the A2 well at Liberator which, in conjunction with Dolphin Drilling's partial payment deferral as announced by i3 on 29 October 2019, gives the Company flexibility to extend its drilling programme.
i3 announced on 29 October 2019 that it was obligated to enter a reserve-based lending facility by no later than December 2019 in order to remain in compliance with the terms of its Junior Loan Notes. The Majority Noteholders have now agreed to extend the date by which the Company must enter an RBL or find an alternative means of funding to achieve first oil from its assets to 30 April 2020.
For their previous and ongoing work and allocation of resources to structure and support the Company's funding requirements as it undertakes a large-scale drilling programme, Bybrook will be issued warrants to subscribe for up to 8 million new ordinary shares in the Company at an exercise price of 40 pence per Ordinary Share.
i3 will provide an update once the above Placing Shares have been issued. Once issued, application will be made to the London Stock Exchange for the admission of the Placing Shares to trading on AIM, with Admission expected to become effective no later than 8.00 a.m. on or around 6 December 2019 and that dealings in the Placing Shares will also commence at that time.
ENDS
CONTACT DETAILS:

i3 Energy plc
Majid Shafiq (CEO) / Graham Heath c/o Camarco
(CFO) Tel: [phone]

WH Ireland Limited (Nomad and Joint
Broker)
James Joyce, James Sinclair-Ford Tel: [phone]
GMP FirstEnergy (Joint Broker)
Jonathan Wright Tel: [phone]
Canaccord Genuity Limited (Joint Tel: [phone]
Broker)
Henry Fitzgerald- O'Connor, James
Asensio
Camarco
Jennifer Renwick, James Crothers Tel: [phone]


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.
END
UPDEAXFPEFANFEF
(END) Dow Jones Newswires
November 08, 2019 02:15 ET (07:15 GMT)

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[highly geared] 08/11/2019 07:24

Mentally ill, you need help..

[shorterofdoom] 08/11/2019 07:23

Mega high risk well now with millions more shares and warrants to keep the share price low hahaha early happy Christmas. Next stop DUSTER RNS

[shorterofdoom] 08/11/2019 07:20

Endless overhang. Why didn’t the board place in the day of results at a higher price hahah because they are so incompetent. What a result.

[shorterofdoom] 08/11/2019 07:18

The share price will be capped at this price. Only way is down from here

[shorterofdoom] 08/11/2019 07:18

Endless rounds of fundraising to keep the lights on.

[shorterofdoom] 08/11/2019 07:18

Hahahahahaha lifestyle company

[shorterofdoom] 08/11/2019 07:17

Millions more shares and warrants just issues for this dog

[tsmith2] 08/11/2019 07:07

News Monday morning me thinks.If/when liberator comes in. I3E will be big box seat on serenity. Would expect share price to be 70-80p on opening and then corporate activity on serenity..?1 plus

[shorterofdoom] 08/11/2019 06:26

Tick tock the clock of doom is ticking. Shareholder wipeout ahead after the next duster. Only way for i3 to survive and retain the boards fat cat salaries will be to do a massive distinct placing with millions of warrants. Or game over for this lame dog

[shorterofdoom] 08/11/2019 06:22

How much are you down on i3? Oh wait let me guess you’re not hahaha dirty ramper and their web of lies

[shorterofdoom] 08/11/2019 06:14

94 days almost up. Budget well and truly blown. Another lie from the board saying 3 wells in 94 days. Now they are drilling on account. So when the duster lands it’s well and truly game over for this lame pig

[sparky333] 08/11/2019 05:59

What a bitter and twisted little man posting from his Blackpool bedsit. The story is on,y just getting going, this will be a glorious Xmas

[shorterofdoom] 08/11/2019 05:57

Big move down coming. Share price can’t sustain this overvalued price for long.

[divmad] 07/11/2019 23:02

Jees. The two of you should get in a locked room and sort out your exaggeration tendencies, man to man.

[imjustdandy] 07/11/2019 20:59

70p next stop and likely by early next week

[shorterofdoom] 07/11/2019 20:51

Such anger from these mere mortals. Is it because you are deep underwater that you are so angry? You should be happy for me, my peasants. In the end when i3 goes tor’s up, I will let you visit your wealth from behind a barrier (dot want scum touching it) you can see my vision for speaking your wealth for a mere sum of £50 per 2 minutes

[jamie414] 07/11/2019 20:39

You don't have a clue what fine wines and art are.

[d1nga] 07/11/2019 20:38

How's the night shifts treating u
Sod?