I3 Energy Share Discussion Threads

[goodday1] 07/7/2021 08:45

Bought just under 144K at 11.97ish on the open market.Gl all

[captain stock] 07/7/2021 08:41

Can't remember a faster bookbuild. Crazy! I bought another 8300 shares on the open market just shy of 12 pence, so that will do. GLA

[edgein] 07/7/2021 08:38

I wonder which institutions helped fill that £40m in the blink of an eye, the recent acquisition by COPL brought both Royal Bank of Canada and HSBC onto the shareholders register at about 5% each, I wonder who has stumped up our £40m.

Regards,
Ed.

[edgein] 07/7/2021 08:35

The price is at quite a discount to the recent 16p high, but I guess the new holders wanted that to multibag their 11p. That's about one of the fastest accelerated book builds I've seen. There's now only one place they can fill their demand and that's with the rest of us. But then again they've almost doubled their production, added 150% more reserves and significantly added to NOI, so overall not a bad day's work!

Jung,

Same here, fully invested at the moment too so hadn't got free cash for the primary bid, some lucky folks did though and they'll reap the rewards now too. Not the end of the world as my average is below 10p.

Regards,
Ed.

[eringael] 07/7/2021 08:30

Benefit of high oil prices

[eringael] 07/7/2021 08:30

Agree Captain but they seem focussed on added decent producing assets with what would seem lots of low hanging fruitIf we consider even the cheapest wells are about 1.3million, we would need 40 at least to add 8k and 2-3 years, we have done this in one swoop with loads of other prospects and hiked up 2p reserves and taking immediate

[markstevenkirby80] 07/7/2021 08:25

Cheap and half the price, you buy one yeah get one free

[captain stock] 07/7/2021 08:25

You are of course correct. Nerveless, after holding from previous highs a couple of years back it leaves a bit of a sour taste. I'm going to try and buy the dip.

[horndean eagle] 07/7/2021 08:25

can't say best pleased with management. they have been ramping the story like mad last few weeks. Now we know why. A load of punters got right royally stiffed as it spiked higher. Should have informed the market earlier.

[captain stock] 07/7/2021 08:21

Yep, if they announced a discounted price.

[sos100] 07/7/2021 08:20

Surely they could have got away with this at a much higher level..

[captain stock] 07/7/2021 08:20

Sorry, 3 trading hours.

[jungmana] 07/7/2021 08:14

Edgein I agree with you there. Have no free funds as bought lots of EVE in last one week . That's doing great . Will look to add here later

[goodday1] 07/7/2021 08:14

It depends on the demands.

[jungmana] 07/7/2021 08:09

Does anyone know the price of the primarybid? Just seen the news and at first glance looks good.

[source] 07/7/2021 07:55

Put my bid in earlier. GL all.

[1choip] 07/7/2021 07:50

Alberta's oil sands has the third largest oil reserves in the world, after Venezuela and Saudi Arabia. Alberta's oil sands' proven reserves equal about 165.4 billion barrels (bbl). Crude bitumen production (mined and in situ) totaled about 2.8 million barrels per day (bbl/d) in 2017.

[edgein] 07/7/2021 07:45

Yeah chaps we've got an idea of why they fell yesterday due to the primary bid and financing, they'll want shares at lower than the recent high. However this is an acquisition that will send these to mid cap. Production goes to 18500boepd approx with about half oil! Reserves would increase to 132mmboe with debt against that of a total of $27m. The thing that springs to mind is if this completes successfully, welcome to mid cap territory. Cap should be easily way more than double. Our divi has likely more than doubled as that is extreme FCF vs current drilling plans (likely to increase with the 220 new deve locations). Annual fcf which is likely to grow significantly as a result of the new assets could imo fund a Serenity appraisal programme, depending on how patient folks were (most likely outcome is still farmout though).

I know some don't like dilution but for a modest £40m raised they're adding over $190m NPV with many many new deve locations and likely expo locations too. Looks like a company making acquisition and the accelerator being floored today. Trading will be busy today!

Regards,
Ed.

[mirabeau] 07/7/2021 07:30

Price sold off at 2.30pm yesterday. I reckon the Canadians knew of this before UK investors did. Great company though, and this placing to buy great, cash producing assets is a real positive

[fandagle] 07/7/2021 07:28

Speculate to accumulate, these acquisitions generate future value.