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Share Name Share Symbol Market Type Share ISIN Share Description
I3 Energy Plc LSE:I3E London Ordinary Share GB00BDHXPJ60 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 7.70 1,617,142 08:00:27
Bid Price Offer Price High Price Low Price Open Price
7.60 7.80 7.70 7.455 7.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -10.85 -13.00 54
Last Trade Time Trade Type Trade Size Trade Price Currency
08:26:43 O 200,000 7.75 GBX

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I3 Energy (I3E) Discussions and Chat

I3 Energy Forums and Chat

Date Time Title Posts
02/3/202116:08I 3 Energy18,561
24/2/202108:44I3 Energy - North Sea Oil1,963
20/1/202111:16I3E305
13/4/202005:55warrants22

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I3 Energy (I3E) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:28:197.75200,00015,500.00O
08:28:157.75200,00015,490.00O
08:28:097.75200,00015,490.00O
08:28:087.7550,0003,872.50O
08:26:457.6613,2181,012.50O
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I3 Energy (I3E) Top Chat Posts

DateSubject
03/3/2021
08:20
I3 Energy Daily Update: I3 Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker I3E. The last closing price for I3 Energy was 7.70p.
I3 Energy Plc has a 4 week average price of 5.45p and a 12 week average price of 4.66p.
The 1 year high share price is 8.90p while the 1 year low share price is currently 3.38p.
There are currently 695,655,600 shares in issue and the average daily traded volume is 9,851,441 shares. The market capitalisation of I3 Energy Plc is £53,565,481.20.
24/2/2021
13:25
tim000: Re PTAL, they pay Petroperu to take out oil price hedges. What if the oil price rises sharply after Petroperu sells the oil via a derivative, but has not yet delivered the oil to the customer? Petroperu I assume faces a margin call from its counterparty, which PTAL has to pay presumably. Leveraged small-cap businesses should not be engaging in large hedging operations. I imagine PTAL could not take out similar hedges itself because any counterparty would regard PTAL as too risky. No one mentioned previously the extreme risk PTAL faced if the oil price went south in a hurry; imho they’ve just substituted that risk for one of the oil price spiking upward!
24/2/2021
10:14
jungmana: WH Ireland had a 15p valuation before yesterday's update and will release a review soon. This is what they said yesterday;Placing our fair value under review: We are placing our fair value estimate of 15.0p under review pending an upward revision. We will adjust our valuation to reflect i) lower than anticipated declines, ii) the value created by the Noel Well, iii) the rising value of the GBP and iv) strengthening commodity prices. For reference, our prior valuation of 15.0p had assumed a US$ 57.00/barrel long-term WTI oil price and a long-term gas price of US $3.25/mmbtu. It has also assumed forex rates of 1.30 USD:GBP and 1.36 CAD:USD. All-in, we see scope for a material upward revision in our valuation estimate. The basis for our 15.0p valuation (now under review for an upward revision) is provided on the following page.WHI View: The result from the Noel well would suggest that the company’s newly acquired assets have been under-developed and that there is potential to grow additional value in excess of the company’s currently booked proven and probable (2P) reserves.Positive Trajectory: Operational success and rising commodity prices are combining to create an extremely positive outlook for i3 Energy.Market reaction: We anticipate that the market will be surprised by this materially positive development. In particular, this result provides substantive confidence in the company’s 2P reserve estimate (production is outperforming the 2P estimates). It also suggests more potential value growth is possible within the company’s asset base. We expect a significant correction in i3 Energy shares. The first quarters following its Canadian asset acquisitions are critical, and we see i3 Energy emerging as a solid producer, generating substantive cash flow and providing tremendous potential for further value creation.
24/2/2021
09:14
tonynorstrom1: Jungmana, I took a look at PTAL. I noticed a couple of things relative to I3E. 1) Debt is a little higher than I3E 2) PTAL's production is similar in volume, however, appears to be all Oil which means it creates substantially more revenues and profits from the same bbl's. So whilst I3E appears to be significantly undervalued - it is understandable why PTAL would trade on a much higher multiple.
23/2/2021
21:10
jungmana: The company that imo can be compared to i3e on production and reserves is PTAL. There market cap today is about 3 times ( GBP145m) that of i3e ( GBP 47M)Just shows how cheap i3e is today in London at 7.8p
23/2/2021
10:42
tim000: Nice chart! Of course, I3E has plenty of scope to reach the peer average production figure in the not too distant future, though the chart doesn't specify the liquids/gas composition of the peer average. The chart suggests plenty of upside to the company's EV, ie share price, consistent with the planned broker's upgrade to their target price mentioned here of 15p.
23/2/2021
09:07
spurs90: Placing our fair value under review: We are placing our fair value estimate of 15.0p under review pending an upward revision. We will adjust our valuation to reflect i) lower than anticipated declines, ii) the value created by the Noel Well, iii) the rising value of the GBP and iv) strengthening commodity prices. For reference, our prior valuation of 15.0p had assumed a US$ 57.00/barrel long-term WTI oil price and a long-term gas price of US $3.25/mmbtu. It has also assumed forex rates of 1.30 USD:GBP and 1.36 CAD:USD. All-in, we see scope for a material upward revision in our valuation estimate. The basis for our 15.0p valuation (now under review for an upward revision) is provided on the following page. WHI View: The result from the Noel well would suggest that the company’s newly acquired assets have been under-developed and that there is potential to grow additional value in excess of the company’s currently booked proven and probable (2P) reserves. Positive Trajectory: Operational success and rising commodity prices are combining to create an extremely positive outlook for i3 Energy. Market reaction: We anticipate that the market will be surprised by this materially positive development. In particular, this result provides substantive confidence in the company’s 2P reserve estimate (production is outperforming the 2P estimates). It also suggests more potential value growth is possible within the company’s asset base. We expect a significant correction in i3 Energy shares. The first quarters following its Canadian asset acquisitions are critical, and we see i3 Energy emerging as a solid producer, generating substantive cash flow and providing tremendous potential for further value creation.
26/1/2021
16:04
spurs90: RE: Canadian Peer GroupToday Tsx listed peer group trading at $19.9k/flowing barrel and $3/ 2p reserve I3e trading at $7.6k/flowing barrel and $1.15 2p reserve If I3e stock would trade at its peer group average valuation the implied i3e share price would be Ev/flowing $19.9k ->18p Ev/2p $3/boe -> 18.2p i3 Energy is now trading on a significant discount to its Canadian peer group. There are several possible positive catalysts for the stock in Q1 which could drive interest to the stock. Https://twitter.com/OilGasTracker/status/1352242283056398339
23/1/2021
11:17
spangle93: Most Proactive recent presentation says "Begin issuing annual dividend between 20 and 30% of free cash flow (increasing to 40% alongside growth), reinvesting residual in PDP assets or low cost PUD reserves development". My notes say this would be 6-9% rising to 9-10% The RNS 2-Nov says The Company envisages the declaration and payment of its first dividend in the first quarter of 2021. As previously disclosed the Company aims to pay out up to 30% of free cashflow as a dividend to shareholders. Based on the current share price [around 4.75p at the time], the Company expects the dividend yield to be in excess of 10% on an annual basis. However, there's a footnote The Company can only pay a dividend out of distributable profits and the Company has retained losses. The Company is expecting to effect a reduction of share capital to create distributable reserves to offset the losses and create surplus profits. A reduction of share capital will require the approval of the shareholders and the UK Courts and it is estimated the process will take approximately two months.
21/1/2021
12:05
hail67: Oil prices grinding higher, well above the $50 a barrel level on front-month WTI, small-cap plays in the sector continued to recover. One of the more notable plays was Canada & North Sea focused #I3E investors look forward to the company paying out a maiden dividend in Q1 21 #I3E https://twitter.com/ShareTalkNews/status/1352221941604765696?s=20
20/8/2020
20:20
spangle93: Here are my notes - with the usual caveats. If anyone else listened, either at the time or to the links above please correct 1. £30MM raised from short list of high quality investors, who suppported the company strategy [hope this is positive, as I took from this that flipping the shares for a small profit and creating an overhang at these levels is less of a risk as I feared] 2. Wanted to move to be a balanced, whole-cycle company with production revenue. Too expensive to achieve this aim through farm ins in the North Sea, and development of their own assets would take too long. But Canada is easier and cheaaper. 3. Toscana fitted the bill - they'd bought assets in 2010 at a high oil price with high leverage, but with falling prices leading to "lower for longer", they had a C$500k m/cap and a C$28MM net debt. I3E apprached other lenders, took the debt at x cents in the dollar [missed this vital figure; anyone?] and became senior secured lender. 4. With Toscana, evaluated primary targets for acquisition. Gain was the no. 1 target, because its parent company pension fund, following the new zeitgeist, wanted to get out of oil and gas completely and was looking for a buyer. After agreeing the sale of the Saskatchewan assets, the net cost was barely one year's production revenue [assumed oil and gas prices not stated]. As shown in presentation, the cheapness of the deal is amazing, relative to other historic regional deals. 5. Intention to buy at "maximum pain" in the Canada market. I3E sees that usual product prices discount to WTI and Henry Hub will close as other export routes from Alberta to markets are completed. Historically Canada was at the end of the pipeline, so suffered lower product prices as a result. There are different products from the various fields - oil, gas, NGL, condensate - and each has a different benchmark, but most of the oil is at Edmonton light. Also, both Mr Heath and the previous speaker considered that shale oil/gas wouldn't recover in a V-shaped way, so conventional would get better prices going forward. While other companies have hunkered down, I3E have taken advantage of the opportunity to buy at lowest prices. 6. The assets bought have historically been well managed by Gain and Toscana. 7. Slide 8 top left - 20% of expected cash flow paid as a dividend would provide 6-9% yield at these prices. Intent is ultimately to return 40% of FCF, i.e. 9-10% dividend yield!! No plans at this stage for share buybacks vs dividends, but scenarios could be envisaged where the former is attractive. 8. See bottom left picture on slide 8. This is critical. If oil prices stay depressed, I3E intend to grow inorganically. Implication was that more deals will follow. HOW WILL THIS BE DONE? This was the question/theme raised by someone in the audience that wasn't put to him by the moderator. Conversely - If oil price rises about $55/bbl, it's more cost effective to generate growth through the drill bit than through buying a company, because there are many drill targets to convert 2P reserves into PDP. 9. C$94MM tax pool will mean that there are no taxes to pay for the foreseeable future. 10. There are also third party handling opportunities through the existing facilities to further reduce opex/bbl / grow revenue 11. Decommissioning liability is estimated to be C$30MM across both companies 12. They've already had interest from companies who would like to farm into the Canada (and North Sea, see below) assets Ref North Sea Liberator was a low risk drill, in which all the de-risking possible was done. Aware that shareholders are hurting. So is he. Sadly it's part of the industry that the drill bit is the truth. He can't see the share price getting back to pre-Liberator levels Conversely Serenity, which was higher risk was a major exploration success with 109 MMbbl prospective recoverable resource. Data room has suffered to a degree with the low oil prices, as companies that previously were keen have had made public statements that they will not spend discretionary capex at this time and consequently dropped out. The flip side is that some companies see advantages in moving when the market is depressed and have come to the table. They are in advanced talks with one party, and he hopes to be drilling in Q2 2021. [Interestingly, he said that they didn't want to be drilling during the winter, which implies that a deal could actually be done quite soon]
I3 Energy share price data is direct from the London Stock Exchange
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