I3 Energy Share Discussion Threads

[d1nga] 07/12/2019 18:15

Once serenity is confirmed same oil as Tain, gas chromatography will determine whether its same oil or not.
Rre will buy these out

[kirk 6] 07/12/2019 18:15

Will probably offloaded some above 30p early next week

[avsome1968] 07/12/2019 18:11

I also bought more at 14p but I will be holding, personally think they have future partners in serenity which will come to light further down the line.

[5chipper] 07/12/2019 17:50

Bought some at 14p. May sell those ones for a quick profit if it goes back to 35p short term

[ny boy] 07/12/2019 17:40

Not 10p,I added more at 12p, happy to hold long term, don’t need to sell.

[spawny100] 07/12/2019 16:54

Well done to anyone that had the balls to add at 10p. I didn't.

[kirk 6] 07/12/2019 13:41

Will open mid 20s so mid 20s buy sellMid 30s

[muffster] 07/12/2019 13:21

Get funds ready for early buy

[kirk 6] 07/12/2019 12:00

That's great news more of a gap up on Monday

[jungmana] 07/12/2019 10:30

The cheapest institutions and BOD paid over last 12 months is 35p. 40p+ is where imo we deserve to be.And look at the resources we have in serenity and liberator all for GBP 30m market cap ( at 20p when fully diluted).Compare to many oilers on AIM and you realise how undervalued we are. Two brokers value us at minimum of 76p and 90p .

[muffster] 07/12/2019 10:23

Funny how some people can't understand the rns.

[metis20] 07/12/2019 10:22

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces that further to its announcement on 8th November 2019 ('Liberator A2 and Funding Update'), it has now received subscriptions for 14,285,715 new ordinary shares in the Company at 35 pence per share from funds managed by Bybrook Capital LLP.

[kirk 6] 07/12/2019 10:17

So we are potentially looking at the price rising back to 35p next week

[muffster] 07/12/2019 10:14

To raise the required funds

[5chipper] 07/12/2019 10:10

How do you know they were obliged to do so?

[muffster] 07/12/2019 10:07

Bybrook were obliged to pay 35p and this show of support is telling.

[5chipper] 07/12/2019 07:16

No one knows if Bybrook were obliged to pay at 35p or not.

Why such a long gap between announcing placing and completion? Suggests to me that Bybrook wished to keep powder dry until after the final Lib result but have decided to continue.

Let’s not forget the 24m warrants outstanding to Bybrook and co which at prices from 40p to 50p so their eye is in the bigger prize I.e. a share price of 100p+. They want a much higher sp! If they renegotiated placing down to 20p then they would be shooting themselves in the foot in some ways!

[i like trees] 07/12/2019 06:56

I3 Energy Share News (I3E)

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

[lastoneout] 06/12/2019 23:30

Thanks for your reply Mihn2. I'm still not convinced by the hype though. They have raised £5m today at 35p which is not to be sniffed at. But worryingly in the RNS there was also some chat about a further 8m warrants being taken up at 40p but ...."The New Warrants are on the same terms as the Bybrook Warrants and have been granted over 1,503,798 new ordinary shares in the Company."I'm a touch confused by this. It looks like obscuration which makes me nervous. On merit that's an additional £600k by my calcs should the share price get near 40p which is a big ask. So in the rose tinted view that's less than £6m raised which will keep the lights on but a company already £20m in the hole will IMV have to raise a similar amount to progress their discovery in what to me looks like a very weak position. You have to hope for some kind of farm out on SerenityOtherwise it's dilution. I'm not convinced but will look in because any positive answer to funding will launch the share price But for now I'll keep my powder dry

[mhin2] 06/12/2019 23:05

Jungmana, Maybe...but for me the issue is the value of Serenity, and the prospective of liberator...where we will be I dont know...My intention is to break even and let a small amount ride for 3-5 years.

[jungmana] 06/12/2019 22:55

Mhin2- imo the market completely got i3e price wrong after the recent drill campaign. This was was hammered to 10p due to funding fears but today's rns shows that the company has the support and confidence of the financiers.Most importantly they are happy with what the i3e has achieved and willing to put money in.Imo we will be back to 30p+ next week

[mhin2] 06/12/2019 22:44

Jungmana...what does all of that mean? Your thoughts would be appreciated.

OK you replied, after I posted. I am glad that I3e has/is being supported...they must have something interesting in serenity and beyond....oh...liberator (there is oil in their acreage! do BP have an eye on it?)