I3 Energy Share Discussion Threads

[cashandcard] 23/5/2018 11:11

The options were known for sometime. With 30th round or without. I imagine they will have scenarios concerning both. They actually indicate this in 31st Jan RNS. Now just a matter finalising 'with 30th round' and moving towards drilling.


Cash

[ducati2345] 23/5/2018 11:04

Agreed, unless they have signed on dotted line fir funding agreement, they will be remodelling, renegotiating based on much higher oil price than original discussions, downside is this could take weeks, upside is we could have more profit by the end.

[coscos] 23/5/2018 11:03

Chopsy, they are planning to drill an appraisal well in Q4 this year which means funding is at a very advanced stage.The likelihood is that they have already prepared 2 development plans, one including today's news and one without. Things will move forward quickly from here, it's almost June you know!

[chopsy] 23/5/2018 10:54

No I think the tone of the RNS is that the whole funding development is now being remodelled.

[cashandcard] 23/5/2018 10:52

coscos,


I agree, they know the offers. Just a matter of going with the best package on offer and we should get an announcement before too long.


Cash

[coscos] 23/5/2018 10:48

Reckon it's just a case of dotting the i's and crossing the t's before funding news is announced. The delay since Jan was for today's news.

[jon1962] 23/5/2018 10:47

Thanks Zengas for informative reply.

[zengas] 23/5/2018 10:43

Last update mentioned "multiple industrial partners" jon, so imo if all vying to get a piece in this deal should mean competition to offer the best terms.

Counterparty indicated offering $200m (don't know who makes up the counter party if it's just one or a combination of partners in that party).

I3e expected to hold no less than 67%.
Wonder if the company could or would contemplate a placing to hold on to more than 67% if those were the best terms ?

[cashandcard] 23/5/2018 10:35

tgg,


Ah, I see what you mean. The license is w/n-w, but its been split into East/West. Probably due to East being part of resubmitted FDP. Yes, gone through the CPR too.


Cash

[thegreatgeraldo] 23/5/2018 10:34

PS - Assume you've been working through the Liberator West CPR, Cash? Also on the website, obv.

[thegreatgeraldo] 23/5/2018 10:31

Cash,

There's a map on the website- under "Operations". The new licence is split into phase 2 east & west

[jon1962] 23/5/2018 10:19

Does anyone know if the funding talks concern multiple partners where each Is considering funding in full all the licences and they are in competition to give best deal or multiple partners each contributing to the whole funding?zengas perhaps you know?

[cashandcard] 23/5/2018 10:19

tgg,

East on the map? Its west/northwest of the main Liberator field.


Cash

[fardels bear] 23/5/2018 09:51

Cheers chopsy. That guy gary38 always made me run a mile from HUR..

[thegreatgeraldo] 23/5/2018 09:48

Just to clarify, the Liberator West app well is being drilled into what I3E have called Liberator phase II East on the map on the website.

[showme01] 23/5/2018 09:47

Toon, you are most welcome :-))

[chopsy] 23/5/2018 09:47

FB my pleasure HUR

[ducati2345] 23/5/2018 09:47

Mmm I'd like to see you're workings out on that valuation , but agree 800p plus isn't out of question

[zengas] 23/5/2018 09:47

2Prsimo

They've done so far what they said would and no reason now why they can't deliver over the next 6-18 months in terms of major production growth. Great result and all we need now is the funding which should be close. Likely to get involved in further deals down the road.

I did derisk some and took a few more off this morning to completely run for free (been in since 20s). Hopefully grow steadily to a £500m target and will know better on what the funding outcome is/overall shares in issue but a great start. I'm also following Parkmead in terms of undervaluation and run by the guy who headed up Dana Petroleum who also won a number of licences this am and they have a significant hub that may come on stream with offers of funding so looking for a repeat performance in time and max value for my investment cash.

[duckdown] 23/5/2018 09:45

This genuinely could be £15-20 a share within 12-18 months. The potential is eyewatering.

[cashandcard] 23/5/2018 09:41

Liberator West adds 22 MMBO Mid-case 2C Contingent Resources and 47 MMBO Mid-case Prospective Resources to the Company's currently held 11 MMBO of 2P Reserves

-- A Liberator West appraisal well is being planned for late 2018 (into the Contingent Resource area), with i3's Competent Person, AGR TRACS International Limited ("AGR"), estimating a 70% chance of finding commercial hydrocarbon volumes

The Liberator discovery in Block 13/23d contains 30deg API oil trapped within the Cretaceous Captain reservoir. With the addition of Block 13/23c, Liberator and Liberator West together form a single elongated structure, 10 km long and 4 km wide, which potentially contains a range of 48 (Low) - 237 (Best) - 490 (High) MMBO initially in place. With the block award, i3 now owns 100% of these potential volumes.

[duckdown] 23/5/2018 09:40

In i3e's presentation they indicated the company value (50% risked) rising from $93million to $279million if they were successful with the 30th round bid. So 3x the value of what they had originally.

That's about £208million which equals £5.67 per share.

A lot of upside left here!

[someuwin] 23/5/2018 09:27

This should now allow the JV to proceed, with the partner putting up the US$200 million and I3E keeping 67% working interest...

"Pursuant to these discussions, the Company has received indicative commercial interest from a counterparty to provide 100% of the funding for a multi-well development on Liberator and the Company's 30th Round application block, amounting to estimated total capital commitments of approximately US$200 million.

JV discussions have reached a mature stage and, should these commercial arrangements conclude in an expected six to eight weeks timeframe, the Company would maintain a working interest of no less than 67% in its Liberator and 30th Round application blocks, after a multiple of the capital commitments have been refunded to the parties from post-production cash flow"

[thetoonarmy2] 23/5/2018 09:26

Well thanks showme (even a pig finds a truffle now and again) I got 50k yesterday so quite happy with this now I suppose they need follow through on the Funding news :)

[igbertsponk] 23/5/2018 09:24

Doing well this! Bought at 25.9p and took my stake out when it was in high 70s. So nice to see the profit I left to run doing rather well!