I3 Energy Share Discussion Threads

[avsome1968] 30/3/2020 22:52

dplewis


How can this get hit harder anymore not a producer yet, companies with huge dept that are producers eg, PMO,TLW,ENQ,LUPE many more that need 50 plus a barrel just to break even, these will sink longer this $20 a barrel continues.

[dplewis1] 30/3/2020 19:12

WTI and Brent getting pummelled this is going to be hit hard tomorrow

[avsome1968] 30/3/2020 11:21

Basically got it for nothing, plus free admission to tsx

[avsome1968] 30/3/2020 11:20

30 Mar 2020

i3 Energy, an independent oil and gas company with assets and operations in the UK, has announced the following update.
Highlights:
i3 has entered into an Option agreement to acquire all issued and outstanding common shares of Toscana Energy Income Corporation ('TEIC'), a TSX listed company
TEIC had 2019 year-end 2P Reserves of 4.65 MMboe (53% oil, 47% gas) with a reserve life index of 14.7 years
Toscana's 2019 production averaged 1,065 boepd and generated C$5.5 million (US$3.9mm) in field netback from 13 low-decline, long-life conventional fields producing at an average breakeven price of C$30.43/boe (US$21.74/boe)
TEIC operates 69% of the producing wells in its portfolio at an average net working interest of 67%
i3 is purchasing Toscana at a fraction of going market-based valuations for WCSB oil and gas transactions; the total aggregate consideration being paid by i3 for TEIC's debt and equity totals approx. C$3.95 million (US$2.82mm) representing roughly 0.72x Toscana's 2019 field netback, C$3710/boepd (US$2650/boepd), and C$0.85/boe (US$0.61/boe)
On March 27th, i3 used current cash resources to purchase the rights and interests in Toscana's senior and junior debt facilities (which were in default). i3 has acquired Toscana's C$24.8 million senior facility for C$3.0 million and its C$3.2 million junior facility for C$0.4 million, with cash consideration for each being paid 50% up front and 50% at year-end.
Upon i3's exercise of the Option, Toscana shareholders will be offered up to 4,399,224 i3 shares for TEIC's entire share capital, representing dilution of approximately 4% to the Company's current shareholders and having a market value at March 27th of approx. C$0.55 million

[avsome1968] 30/3/2020 08:26

News still to come on farm in?

[jungmana] 30/3/2020 08:22

Always leaky and imo this news was the reason for a quick 100% bounce last week on small volume and in dire market conditions .Some goid news that gives us hope of getting our money's back hopefully with time.

[highly geared] 30/3/2020 08:13

Interesting, purchasing distressed assets with the oil price on the floor. Good strategy and well done i3E . We may, in time, get our money back...

[avsome1968] 30/3/2020 08:11

Well wasn't expecting that news, certainly a plus buying it for peanuts, market likes it

[pembury] 30/3/2020 07:58

where they place these shares 4/5/6p?

[alistair4444] 27/3/2020 16:09

the usual daytraders

[avsome1968] 27/3/2020 15:24

Managed another small buy today average down a tad more news on farm out next week my guess, have a lovely weekend guys be safe.

[avsome1968] 27/3/2020 08:33

FTSE well down today. be a few sellers here hope they are getting mopped up, then good news next week.

[jezzoo] 26/3/2020 21:11

5 days of 45% compound from here and I'm in profit.