I3 Energy Share Discussion Threads

[goodday1] 11/2/2022 10:17

There is no pleasing some people.ELSteve, Posts: 36, Price: 18.90RE: RnsToday 10:09If anything I would suggest solid but underwhelming. No mention of the North Sea assets and any attempt to develop those and no actual current production numbers. With the recent move up in the share price I am struggling to see how this announcement will push it further. I say this as a shareholder and long term investor, just trying to look at the facts without rose tinted glasses.Ffs, this RNs called, the 2022 Canadian Capital Programme UpdateGl all

[goodday1] 11/2/2022 10:11

WH Ireland note out - Fair Value 30p or 36.8p including the North Sea.Gl all

[goodday1] 11/2/2022 09:47

Everyone on this BB very pleased with this RNs.Yes, it is an amazing RNs, however, no one mentioned the bonus of this update.Can you hear how beautifully peaceful this BB is today?May it continues.Happy days.Oil confidently above 90 dollars.If you are wanting to top up, make sure you do it before 1430 UK time.Gl all

[marvelman] 11/2/2022 09:37

Well done being quick on the button this morning Melody. I am adding today and can only hope, albeit a forlorn one, that I can get close to your purchase price. EDIT...that was one hell of an update.

[melody9999] 11/2/2022 09:25

to anybody new looking in, with i3e you also get a 5% plus dividend at curent share price - paid monthly!

see the recent RNS.

shows a profitable company and a confident management

whats not to like? DYOR

[the patriotic irishman] 11/2/2022 09:21

sorry but buybacks are (IMO) a complete waste of capital at this point in time for the company and besides its not as if the full allowance of 72m would make a material dent in the 1.125 billion that's currently in circulation

any spare cash needs to be spent first and foremost on increasing the current Canadian production just like they have announced this morning. its important that they at least (as a minimum) replace / compensate for any natural well decline. natural production decline / replacement costs is often overlooked by PI's but with the mid tiers and majors its a big ticket number and a focused consideration for the institutional investors.

anyway after that my choice for any spare cash would be a Serenity well (or share of) or further Canadian acquisitions and last but not least a special or increased dividend later in the year.


buybacks?

sorry but no thanks or at least not yet


with oil and gas prices where they are (and potentially still going) you need to make hay when the sun shines 👌


it will be interesting to see how the TSX reacts later in the day to this mornings news as they often set the direction for next day trading in the UK which would of course be Monday morning for us.


so let me be the first to jinx it by saying


you wouldn't want to be out over the weekend 😉


oh and lest we not forget

IF you're not in by Wednesday close you'll be missing out on that first dividend payment.



# HODL 🥳

[goodday1] 11/2/2022 09:08

Here comes the publicity.Interview, maybe later on.i3 Energy Plc has provided details of its planned Phase One, US$47mln, capital programme for 2022.The company, in a statement, said that seven wells (five net) will be drilled across its portfolio - including the Central Alberta, Marten Hills & Marten Creek, and Simonette areas – targeting 2,450 barrels oil equivalent of addition production (expected to be 55% oil and natural gas liquids).hTTps://www.proactiveinvestors.co.uk/companies/news/973858/i3-energy-details-phase-one-drill-campaign-very-pleased-with-first-operated-well-973858.htmlGl all

[edgein] 11/2/2022 08:53

Spangle,

Yes agreed, this isn't just a drilling campaign that's turning PUD reserves into PDP. It sounds very much like a reserves replacement/expansion drilling campaign (Simonette should do a good job at that). So the replacement/addition of reserves will certainly help to grow baseline production through the next 12 months. As the Abbot points out great production growth potential from the hundreds of deve well locations. Upward pressure on the regular divi looks very likely.

Regards,
Ed.

[dunderheed] 11/2/2022 08:52

We've got to get through the 20's today surely?

[goodday1] 11/2/2022 08:44

To buy back 72 million shares at 20p each will be over 14 million pounds.Steady as she goes.Gl all

[the patriotic irishman] 11/2/2022 08:33

indeed it was pretax2, so all above board IF they decided to do some buybacks


below extract taken from 30th June 2021 AGM RNS with applicable resolution

(for info, all resolutions were subsequently passed)


12. THAT the Company be generally and unconditionally authorized for the purpose of Section 701 of the Act to make market purchases (within the meaning of Section 693(4) of the Act) of fully paid Ordinary Shares on such terms and in such manner as the Directors may decide, provided that:

a. the maximum number of Ordinary Shares that may be purchased pursuant to this authority is 72,772,477, representing approximately one-tenth of the Company’s issued Ordinary Share
capital;

b. the minimum price that may be paid for any such Ordinary Share shall be the nominal value of that Ordinary Share (exclusive of expenses payable by the Company in connection with the purchase) at the time of purchase; and

c. the maximum price, exclusive of any expenses, which may be paid for each Ordinary Share is an amount equal to the higher of: (i) 105% of the average market value of an Ordinary Share, as derived from the London Stock Exchange Daily Official List for the five business days prior to the day on which the purchase is made; and (ii) an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share as derived from the London Stock Exchange Trading System.

Unless previously renewed, revoked or varied in accordance with the Act, this authority shall expire on 30 June 2022, or, if earlier, at the conclusion of the next annual general meeting of the Company to be held in 2022, but the Company may make a contract to purchase Ordinary Shares under this authority before its expiry which will or may be completed wholly or partly after the expiry of this authority, and may complete such a purchase as if this authority had not expired.




however,

given this mornings fab news

I'd say the 2m late trade was from someone in the know 😉


lovely jubbly 🥳

[1choip] 11/2/2022 08:32

looking good towards minimum 25k bpd especially no cash shortfall on drillings.

[spangle93] 11/2/2022 08:21

The abbot
"Now call me a ramper but is that 135 locations X 17 days = 2295 days or 6.5 years to deliver"

That's not ramping. Ramping is when you also point out that you're not limited to 1 rig at a time ;-)


However tempting it is, you also have to consider natural decline of wells, so while we can do the maths and calculate the additional production from the new wells, part of that is offsetting the reduction in the baseline, or NFA as it's often termed. Edgein sagely notes that the recompletion / workover / reperf etc of existing underproducing wells will win the award for best supporting role.

Nonetheless, it's a cracking update, and only Phase 1 of the year's plan.

[melody9999] 11/2/2022 08:05

Added again theis morning at 18.6p.

[goodday1] 11/2/2022 08:00

That is 3 RNsS in February so far.3rd, 9th and 11th of February.Most companies have published their Q4 updates.So we are due at least 2 RNsS, one re the North Sea & Q4 update.Buy Back? make one on the 21st, please.The futures are bright, the future i3e.i3e putting the WOW in investors finances.PoO around 90 Dollars.Gl all

[edgein] 11/2/2022 07:56

Awesome update chaps, not only many many drilling locations on each play but also many low cost high upside well re-completion targets too. Moreover as all obviously onshore really fast tie in times too to I3E's large network of infrastructure.

Magic Majid strikes again:

" We are very pleased to have successfully completed drilling operations on our first new operated well in the Company's 2022 Canadian capital programme and look forward to bringing this well and subsequent wells onto production over the first half of this year. This is the initial phase of drilling operations, and following evaluation of log and production data from these wells we will embark upon phase two which will target an additional 10 to 13 locations ."

They're going flat out with this campaign and have already planned the next too. certainly not sitting on their hands that's for sure.

I particularly liked this bit:

"Phase one of the Company's US$47 million 2022 Canadian Capital Budget is designed to combine efficient low-risk development drilling with strategic resource delineation and land capture."

Obviously targeting areas of reserve replacement/addition. Great stuff and as already pointed out this morning is that most of these operations have payback in less than 1 year! Onward and upwards.

Regards,
Ed.

[source] 11/2/2022 07:31

"Positioning to Capitalize on Commodity StrengthEarly results from the abovementioned activities position i3 to achieve or exceed its initial expectations. Should similar success continue, the Company will look to accelerate its approved Capital Budget to take advantage of operational momentum and the current favorable commodities environment."

[highly geared] 11/2/2022 07:27

Superb update. Absolute confidence in the assets and the ability to grow production by over 3000BOEPD this year with less than 12 month paybacks!

I can see a route to 30,000 BOEPD from the Canadian assets by 2024. Acquiring these at rock bottom prices during the pandemic is now proving a master stroke..

[goodday1] 11/2/2022 07:22

They have been busy & many more RNsS to come.Lots of drilling & wells have been drilled & more coming online.Well done to the hard-working BoD.Thank you.I do like these bits.- i3's first operated drill, targeting liquids-rich gas in the Glauconite formation at 14-24-042-05W5, was completed on time and on budget. As part of i3's 100% owned- The Company continues to de-risk its expansive Clearwater acreage position in Marten Creek- All such identified projects have excellent economics and payback periods of less than 1 year. - Early results from the abovementioned activities position i3 to achieve or exceed its initial expectations. Should similar success continue, the Company will look to accelerate its approved Capital Budget to take advantage of operational momentum and the current favourable commodities environment. Gl all

[goodday1] 11/2/2022 07:02

RNsCapital program update.Gl all

[pretax2] 10/2/2022 22:26

I believe we voted for limited buybacks at the last AGM. I doubt they’d RNS before they bought.
Speculation, yes. But plausible.

[hoper1] 10/2/2022 18:56

Not the explanatory answer I was expecting there Gooders. I was expecting a more reasoned answer. So it could be a sell then.

[markstevenkirby80] 10/2/2022 18:36

28p incoming a rolling stone gathers no Moss,