I3 Energy Share Discussion Threads

[spangle93] 20/8/2020 19:49

Can anyone tell me where I could find Graham Heath's email address? The only one that I've found so far is through camarco, and I've little confidence that would ever reach its intended destination.

Some guy posed the same critical question as I was wanting to ask, but the moderator didn't have time to ask it, or didn't select it.

FYI, he selected certain slides from the recent presentation on the website, and focused exclusively on the Canada deal, although there was an interesting answer to a question on Serenity that I'll write up

[spangle93] 20/8/2020 14:24

To me, the figures for the acquisition look ridiculously cheap, compared to say the deal that UOG made for production and especially reserves in Egypt. I mean, a headline acquisition figure of $0.5/bbl is what you might pay for undeveloped reserves, or maybe even contingent/prospective resources in a good year, not flowing production

So assuming he walks through the presentation on the website, I want to know where the risks are, or where I've had blinkers on when I've been through the material.

OK, the prices received for Canadian oil are lower than elsewhere, so they are more at risk of another lurch down in hydrocarbon prices. Also, as a result, the netback/boe isn't as high. But they should still generate considerable cashflow even at these prices.

If he comes out with anything that embellishes the basic material, I'll post it

[netcurtains] 20/8/2020 13:48

I think Graham Heath the chief financial officer is doing the presentation.
So I guess lots of maths....

Might be over my head.
Could you let us know later if he had any interesting stuff to say?
Cheers Net.

[netcurtains] 20/8/2020 13:26

Spangle93: Well this type of stock, if it takes off, buying at 6.5 or 7 will not make much difference (I mean if it got to 10-20-40 or something like one of those numbers)..

[spangle93] 20/8/2020 13:17

Yeah, that's what I thought at 7p :-(

Anyway, I've signed up to listen tonight

[netcurtains] 20/8/2020 13:14

Thanks AIM Trader that is today.

a) This stock (I think) by my methodology (touchwood) is a NETNET.

b) It has a BUY against it from British Bulls (from 11th AUG)

c) Its NAV per share appears to be about 11p or 12p but share price 6.5p

d) And its having a presentation tonight (I think)

four reasons (possibly) to have a small punt

[aim_trader] 19/8/2020 10:28

I3 Energy will be presenting to investors at the upcoming Proactive One2One Virtual Forum taking place on Thursday 20th August. Details and registration here:

[mn100mobile] 18/8/2020 12:12

Still somewhat of an overhang at the minute. No idea how many but once cleared should move up strongly as too much value down here.

[jungmana] 14/8/2020 16:19

I think will be a yoyo between 6 and 7p till the new shares get admitted in 2 weeks time.

[burtond1] 14/8/2020 14:54

With Brent Crude ticking up, is it time to find a bargain in the sector?We caught up with independent oil analyst Malcolm Graham-Wood to talk more about the latest developments in the oil environment but more so to look through a number of opportunities that may exist in the market with Brent Crude ticking up to $45 as fuel demand picks up...https://twitter.com/tmsreach/status/1294268981231181825?s=21

[inthemix] 14/8/2020 14:51

I reckon this will bag over the coming weeks.

[cashandcard] 14/8/2020 13:11

begorrah88,


Hi, good to know your still about and this didn't take you under.

Yes, I have my reservations about the team and their ability to deliver. But I think there maybe a possibility they can rescue some value but from this price the past will have to be written off for most holders. It would take them to be asleep at the wheels to mess up 10kboepd and a new lease of life.

I am grateful to have walked out with my gut conviction around 60p (plus majority of my funds), before this got taken to pennies. I still find it hard to believe they managed to completely be off with Lib campaign, with Serenity 'saving' them from all out failure.


Cash

[scrabster1] 14/8/2020 08:41

Got completely rinsed on this one. Difficult to see how it is worth anything tbh.

[begorrah88] 14/8/2020 08:30

Cash,Good to see you are still aroundDon't ever forget it is the same board that continually sold hopes & dreams to PI's all the way down & failed, time after time, to achieve any targets they set.I certainly won't be touching anything Graham Heath is involved with ever.

[cashandcard] 13/8/2020 21:33

Very interesting change of strategy. Looks safer, with the ability to scale up and maybe even pay a divi at some point? May have to rebuild a position here.I3E bosses, just need to copy what Andrew Austin and team have done. It'll work wonders.Cash

[big brother8] 13/8/2020 20:29

OH MY GAWH THE WINDOW CLEANER MUDDYFOX IS STILL. I THOUGHT GINGER RAT CATCHER DIED OF COVID 19, WHAT A SHAME IT IS STILL ALIVE.


BB8
IN BB8 WE TRUST.

[mn100] 13/8/2020 18:21

New shares seem to be taken as follows:568m placed. Total number of shares in issue 688M (use this for the percentages below)Premier miton 100m shares 14.52%Lombard odier 55m shares 7.98%Bybrook 191m (they had 15m) now 206m shares 29.97%Slater investments ltd 83m shares 12.02%Total 429m out of 568M ( 139m with someone else?) so I must be missing something somewhere)There are also the Primary bid 12.65m

[pjackson2] 13/8/2020 18:15

Who are baybrook ??

[jungmana] 13/8/2020 17:35

Baybrook will own 29.97% after admission of new shares.and i believe they hold some of the loan notes too with the warrants attached.. interesting!

[alistair4444] 13/8/2020 17:26

Schedule one - i3 Energy Plc

Thu, 13th Aug 2020 16:45

RNS Number : 1024W

13 August 2020


ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")


i3 Energy Plc



COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:



i3 Energy plc (''i3'', or the ''Company'') is an independent oil and gas company with assets and operations in the UK. The Company's UK operations are managed by its wholly owned subsidiary, i3 Energy North Sea Limited ("i3 Energy"). Its strategy is to focus on the development of discoveries located close to existing infrastructure and delineation appraisal drilling of prior discoveries to the point of development readiness. The Company's intent is to maintain a limited level of exploration exposure.

On 6 July 2020, the Company announced that it had entered into a binding purchase and sale agreement ("PSA") to acquire all the petroleum and infrastructure assets of Gain Energy Ltd. ("Gain"), a private Canadian company with operations in the WCSB, for CAD$80 million (c.US$58.8 million) (the "Gain Acquisition").

Since the announcement of 6 July 2020, the Company has agreed to sell, immediately following completion of the Gain Acquisition, those petroleum and infrastructure assets currently held by Gain which are located in Saskatchewan, to Harvard Energy for CAD$45 million (c.US$33 million) (the "Harvard Sale"), conditional only on completion of the Gain Acquisition.

The Gain Acquisition and the Harvard Sale shall collectively be referred to as the "Gain Transaction" and the petroleum and infrastructure assets of Gain which are to be retained by i3 following completion of the Gain Transaction shall be referred to as the "Gain Assets".

The net consideration payable by i3 to acquire the Gain Assets (i.e. after deduction of the proceeds to be received from the Harvard Sale) is CAD$35 million (c.US$25.7 million) to be funded by a placing and subscription of new ordinary shares in the Company.

This transaction constitutes a reverse takeover ("RTO") pursuant to Rule 14 of the AIM Rules for Companies. The Company will re-admit to trading on AIM by way of the completion of an RTO of the assets of Gain Energy Ltd. Upon completion of the RTO the Company will still hold its current portfolio of North Sea assets as well as the Canadian Assets acquired from Gain Energy Ltd.

On 23rd June 2020, the Company announced that it had executed its option to acquire all of the issued and outstanding common shares of Toscana Energy Income Corporation ("Toscana"), a TSX-listed oil and gas company. There is no certainty that such transaction will progress nor has it formed part of this announcement. For clarity, the acquisition of the Gain Assets is not conditional on the completion of the acquisition of Toscana, which would require the completion of a further RTO under the AIM Rules for Companies. Until an acquisition of Toscana is undertaken, the Company will enter into a service agreement with Toscana to manage the Gain Assets, for Canadian regulatory purposes.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Securities to be admitted 688,866,655 ordinary shares of nominal value 0.01 pence each

There are no restrictions on the transfer of the securities to be admitted.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

New capital to be raised on Admission is expected to be c.£29m.

Market capitalisation upon Admission is expected to be c.£34.5m.

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

58.52%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: