I3 Energy Share Discussion Threads

[begorrah88] 25/5/2018 17:48

I wouldn't like to think existing institutional investors have been given a nod and are selling down to take up a placing but it would make sense of the readiness to sell from them.

[ducati2345] 25/5/2018 17:48

Are they all sells

[kierandoberman] 25/5/2018 17:36

Think the after market trades confirm your post ?

[cashandcard] 25/5/2018 16:42

Funding Arrangements:

OGA recognises the flexibility and variety of funding arrangements and we do not want to be prescriptive in this respect. However, some of the ways funding deficits can be met include.

Issue of additional share capital: Provide details of the proposed share issue, together with documentary evidence that (a) the funds are available and have been irrevocably committed to the share issue by the investor(s), or (b) the share issue has been guaranteed/underwritten by a recognised financial institution or stock brokerage (future share issues will not be acceptable without such evidence). Arrangements with financial institutions or stock brokerage firms whereby they undertake to raise equity on a “best efforts” basis will not be considered as adequate evidence of funding.

[i like trees] 25/5/2018 16:33

Westy. Welcome to the party 🤑

[stamford hill] 25/5/2018 16:32

Im expecting funding news next week

[westmoreland lad] 25/5/2018 16:23

Just filled my order for 8k. placed this am fill or kill @ 99p Paid 98.9p not
showing on ii

[coscos] 25/5/2018 15:53

Bank holiday weekend, expect to see further upwards moves from next week in anticipation of funding news.

[2prsimo] 25/5/2018 15:37

Yes it's disappointing to say the very least - I thought we would be at 1.30-1.50p after the 30th Round Award - they really need that funding package news out next week or at the very latest the week after or this will dribble away further.

[begorrah88] 25/5/2018 15:31

Same pattern as yesterday morningJust being constantly pressed down, buys having no impact at all and the licence award gains dribbling away.I'm puzzled by the ever present sellers in the light of the expected news. Granted the board have dragged their heels and are now 2 months overdue on the financing but they gave a clear impression there are no more hurdles to getting the financing done (even though they'd never previously stated that the licensing was a hurdle!).Maybe they are just holding the door open to let the institutions out. I had expected a swift signing off on the funding as they have been working on it for months now and will surely have agreed a package if they got their desired outcome, which they did.I did expect a better rise on the licensing outcome and a continued climb to the funding so this is a disappointment

[5chipper] 25/5/2018 14:18

Sounds like the kind of guy that knows his gruyere from his emmental

[zengas] 25/5/2018 13:20

(Nicolas Mathys)

[begorrah88] 25/5/2018 12:42

So, Nicolas Mathys must be invested via lynchwood nominees (marries up with holding from 20/04/18 on i3 energy shareholders page) be interesting to see if the new reduced holding marries up when next updated on the website.Which means that City Financial were down to 3.31% on that date (bank of NY Mellon) and Miton are not showing over 3.3% so they are probably the background seller (the constant 5000/2500/7500 shapes that we've been seeing for the last 6/8 weeks) but haven't bothered to update i3e on their reduced holding.JCM sells tend to be reported after trading days as big lumps at a time.

[fardels bear] 25/5/2018 12:23

Onshore is becoming difficult and protracted. Onshore fracking is a victim of multiple scare tactics by the nimbys, probably because the drill sites are located where some of the very wealthiest happen to live..

[caters] 25/5/2018 11:41

And there are real ones in Lincolnshire that, having got planning permission to explore, now can't get planning permission to produce!

[haideralifool] 25/5/2018 11:37

Caters you rule out onshore. But isn't there an oil field underneath Gatwick airport the size of Ghawar? Or something like that ;)

[cashandcard] 25/5/2018 11:36

caters,


Agree with your posts above. Newly awarded potential is significant, many are still focussed on Liberator only. When most of the prospective volumes for the (potentially) enlarged field are now actually in newly awarded 13/23c block. Look at what the CPR says about the extension into 13/23c (West Liberator);

" AGR estimates the appraisal of Liberator West to have a 70% chance of encountering commercial hydrocarbon volumes "


A 70% COS is unheard of for exploration wells. This is a 70% COS of encountering 'commercial' volumes. No wonder they want to get it drilled before the year is out.

13/23c is already sounding like a steal.


Cash

[fardels bear] 25/5/2018 11:35

Always looking for another one. Spread the risk. Never too much in one place and a weather eye on the POO.

[fardels bear] 25/5/2018 11:34

Ditto caters.

[caters] 25/5/2018 11:05

very true

I am happy to give this a year at least.

I like companies:

* operating in UK waters (not onshore);

* where the BoD have plenty of skin in the game but no so much they can take it private;

* that have proven discoveries and a visible route to market;

* with minimal debt;

* with 100% operatorship for faster action and no hidden agendas;

* with significant upside;

* with an experienced BoD.

[chopsy] 25/5/2018 10:55

Ok so we have to prove it up to get $20 per barrel in the ground. The route from discovery, appraisal, development punctuated by CPRs is a long one with the dangers of bids and farmins along the way, but therein lies the route from 2C to 2P. And the share price from £1 to £10.

[underdog1] 25/5/2018 10:49

Choppy trading today but this is just noise in the grand scheme of things. The trend will be upwards over the coming days and weeks until we get confirmation of funding, at which point we’ll be looking at at least double where we are now. I’ve not seen an opportunity for a 5-10 bagger in the medium term with negligible risk like this for a very long time. Remain patient and you will be rewarded.

[caters] 25/5/2018 10:43

From I3E's Nov 2017 Corporate Presentation:

"Implied valuation of i3 reserves/resources and production based on 2017 weighted average market comparables of Delek’s acquisition of Ithaca Energy ($16.59/2P boe and $61,902/boepd) and Verus Petroleum’s acquisition of Wytch Farm ($18.46/2P boe and $55,000/boepd)"

Those sales were when PoO (near and far dated) was a fair bit lower.

[euclid5] 25/5/2018 10:33

Caters, good post

Based on 11mmbls valued at $328m NPV = £22.09 Boe ($328m / 1.35 = £243m div 11mmbls)

237mm x 35% RF = 83mmbls x 67% = 56mmbls x £22.09 = £1.22b Npv net to i3E

However we can pressume that the P50 237mmbls is prospective OIP & not 2C

But RNS does state:

"The Liberator discovery in Block 13/23d contains 30° API oil trapped within the Cretaceous Captain reservoir.

They aren't specific in stating of the P50 237mmbls is 2C or prospective OIP, but says "potentially contains a range"