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Could breach 10p today, would be nice to get back to double figures.
Oil price outlook is bullish.
Pull the trigger Majid.
WTI $81
Operationally they have excelled but agree they need to grow or sell up which they have signalled recognition of. We should hear of their intentions imminently.
Feels like they are struggling to grow the pie organically……bit of worry why would they sell when gas is at the lowest prices and surely not a good return…..makes sense to prioritise so hope the price is sensible.
From 6m 30s in Majid talks about the focus moving forward and the need for additional investment in the key assets (Clearwater, Central Alberta & Wapiti). Did he forget Montney or is it considered non-core ? The Montney produces around 1900 boepd of which 45% is Oil & Condensates so hard to believe they will let this go. Are they considering selling off the their North Montney sections which is about half the acreage and is gas weighted ??
Interesting updates coming up.
Https://www.google.com/search?q=i3+energy&rlz=1C1CHBF_enZA1031ZA1031&oq=&gs_lcrp=EgZjaHJvbWUqCQgAECMYJxjqAjIJCAAQIxgnGOoCMgkIARAjGCcY6gIyCQgCECMYJxjqAjIJCAMQIxgnGOoCMgkIBBAjGCcY6gIyCQgFECMYJxjqAjIJCAYQIxgnGOoCMgkIBxAjGCcY6gLSAQkxNzIyajBqMTWoAgiwAgE&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:d40448b3,vid:MUqfgAqw1hw,st:0
6 months old but ties in with latest RNS - well worth another listen
Yep delayed buy (not me btw). Unless there's news on Monday then expect this to drop back to 9p pretty quickly. Goes to show what a 1m buy on the low volume we're currently seeing can do to the sp. Anything major and this will jump 20% in a day. Still have the majority of my money stuck in SHG. SP is now above the derogatory t/o offer and trying to break free. I'm hoping an improved offer or counter-bid arises next week so I can re-position a lot of money back here. Wish me luck as there'll be a few more of those 1m trades if I get my way :) GLA
SP up on increased volume - that's got to be encouraging Stas is it not ?
Yep. Also got rid of a few of the weaker holders.
With good news this could shoot up to 16p very quickly.
Nice bit of movement today closed at 9.58p - lets see, back into double figures next week then..
Delayed buy 😉
Hmmm someone just sold a million into that rise
Bid??
Its starting to jump, any news?
It's time to deliver some meaningful bopd growth again Majid please.
Its good news in the sense that it adds clarity to those who were not sure what the RNS said / meant - but it was actually already stated within the RNS in the 1st couple of lines:
"The Circular will contain details of a proposed normal course reduction of capital (the "Capital Reduction"), being undertaken to ensure there are sufficient distributable reserves to facilitate dividend payments in the long term. "
And, no doubt, were he to gets us back to 30p he will again be a genius, but we are not there yet.
Some good news though, I had an email from the company as regards the capital reduction. I shall not release verbatim other than to state the reasoning behind the reduction is that the last capital reduction created only a limited amount of distributable reserves by converting what was the prevailing share premium account. In order to pay ongoing dividends distributable reserves are required and the transitioning to UK-IFRS for parent company YE 2023 accounts allows i3 to create a significantly larger distributable reserves base, which will provide for a longer term dividend paying capacity.
It is as we expected purely an accounting exercise (and as detailed in the RNS) but one that should be seen as good news and solidify a longer future outlook.
IBB_INVEST,
"All of its Canadian peers get market notes from TD, RBC, Desjardins, National Bank etc. i3 have made ZERO attempt work on this during the quiet 2023/2024 pricing years"
I would challenge you on this particular statement and I don't know the correct answer to 1) below but 2) is at odds with what i3e have stated on record:
1) I would be reasonably confident that you don't have the information to state "All of its Canadian peers get marked notes". I could be wrong but 99.5% of private investors including myself don't put in sufficient research to confidently state that "all" i3e's peers get coverage. I've no doubt that some get the coverage but i would venture to state that many do not particularly the small cap companies like I3e with a market cap of les that CAD 200m. Am I wrong - can you list i3e's peers who do get the research notes.
2) The second part of your statement does not match with what i3e have stated in investor podcasts - Ryan Heath stated that they were having conversations with up to 4 Investment Banks and Canancord Genuity handle their PR in Canada and have issued several research notes.
email them and ask and see what they say.
I did see a couple of comments from posters on the CEO BB stating that they rarely received responses from i3e to email questions - both the Inquiry form and Camarco Email - I passed on this feedback to Majid and he stated that he would take this up with Camarco and look to improve responses / communication.
Thanks Tony, I mostly agree with your comments. Especially, in so far that Majid can’t control external factors such as natural gas price.
However, what he 100% can control is IR and especially i3’ relationship with the investment bank analysts. It is obvious that the stock price NEEDS analyst coverage. All of its Canadian peers get market notes from TD, RBC, Desjardins, National Bank etc. i3 have made ZERO attempt work on this during the quiet 2023/2024 pricing years. I don’t know if this is down to laziness or simple ncompetence but I do know that it would do wonders for the stock price.
There are few public investors left for small cap O&G companies and especially so when investor coverage does not exist for i3 whom are competing against $PNE, $JOY, $IPO etc and all of those names get coverage by the banks.
And just to add a little different perspective - Gas is at multi-year lows - CAD 1.70 / GJ it averaged CAD 3.60 in 2021.
and something that not many people here may appreciate is that Edmonton Light traded at a $9 discount to WTI in January, $8 in February and about $7 currently. Last year the discount was in the more usual range of $3 - $4. So on average were currently getting about $4-$5 less than we were last year in comparison to WTI.
On the positive side:
1) were paying down the debt - each month, this alone adds 0.1p to NAV.
2) The dividend is relatively safe and were generating a little bit of cash after payment of the dividend and debt.
3) Macro for gas is improving - some of the big producers have cut production, some of the large basins are approaching peak production and LNG Canada is starting up this year.
4) The trans mountain pipeline should reduce the discounts on both Edmonton Light and WCS
As an aside a poster on the other BB called IR asking questions of the recent RNS - unfortunately he did not appear to fully understand what he was told and he jumbled the messaged- but one thing that did come out of the call was that the Capital Reduction currently has nothing to do with any Corporate Action eg asset sales and return of capital to shareholders.
I agree something must be in the pipeline and I expect it’s on the positive side otherwise as people
are saying what is Majid doing all day….There is a solid core at the mid 8’s and then people dipping in and out between 9-11.
Desperately need some new ii’s otherwise we will keep playing ping pong.
I have a feeling a seismic shift is in the offing, the signs are all there, stagnating SP, cryptic RNS's with multiple possible outcomes, the PI's turning on the CEO ( me included)
As Robdog67 said, we are probably at the bottom and we've been here before just before an RNS that changes everything, the caveat I will give is that it's not always been good news.
The company is a sound going concern, it's just frustrating when it's not reflected in the SP.
Having said that I've had nearly 25% of my investment back in dividends whilst we have been waiting for the company changer to happen.
The usual commplaints when share price is low. At 30p Majid was a genius.
I don’t think Majid cares much TBH. He is earning £600K a year and gets cheap options for “running” a company from his kitchen table on the other side of the world. Oh and he has a Canadian President that runs the show in Canada. Majid dusts off the old slide deck, gets a train to London and does an “investor presentation” twice annually. Easier O&G CEO gig in the world. All for £50K / month pay. Daylight robbery.