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Now agree that even if offered Tain we should pass. Best case is for Serica to take on Tain and we chuck in Serenity for future profit share
I don’t think any shareholder needs reminding how their share price is doing .
Let’s stick to I3e
😊
DELT - down 40% as I type. It would be interesting to hear whether GGG is going to hold tight or cut his losses and get out. The RNS was a poor read and is anything going to change between now and the end of May ?
In my view we should have got rid of serenity and all north sea a long time ago and concentrated on the cash cow of Canada and not the cash draw of the UK. I'd be pleased to see i3 become solely focussed on Canada, quite apart from what might happen to the UK taxes and levies were a labour government to get in, god help us!
There are no slam dunks when it comes to financing / farmouts - we'll see shortly how the SP reacts.
On a similar note - I'm beginning to lean towards the view that Serenity may be a dead duck - a couple of snippets from the YE report:
"There is a high cost associated with a field development plan and therefore it is contingent upon raising the necessary funds. There is uncertainty whether a one well development of the field would be commercial, and it is likely to require access to thirdparty production, processing, and transportation facilities. If the Group is unable to develop its North
Sea assets, i3 Energy Plc may not recover its loan and investment into i3 Energy North Sea Limited which could negatively impact the Company’s distributable reserves and ABILITY TO PAY DIVIDENDS. See Financial Statements note 3 where the carrying value of intangible exploration and evaluation assets has been identified as a critical accounting judgement."
"The Group considers the risk level to have increased in 2023 due to approaching the September 2024 deadline for FDP on the P.2358 licence."
The good news for i3e is I think the market has already written off Serenity and if it does not advance - then it should spark an effort to trim uk costs which would be a positive.
Also possibly explains why i3e undertook another Capital Restructure so soon after the previous one - i.e. to offset the impairment charges and allow the payment of dividends.
Unlucky on your Shares in Deltic energy
Tough when you a small company and can’t get a partner due to the Government standing on oil .
Hope the company finds a partner and finance.
First of all I inferred that Shubham Garg had increased his holding - I did not say that he had "doubled" his holding. My only reference to "doubled" was in reference to weighting within the fund .
"You have zero knowledge that Shubham doubled his position in i3 Energy" - I do have knowledge , not by how much but I do know he has added and now the weighting is 7% up from around 3% previously . I have not mislead anyone.
With a near 12% Yield I bought in today for my Sipp.
Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say
As for being a long term investor, I've been here since the insider trading days of our failed Nth Sea exploration wells. So Tony and I have been sparring every now and then for years. How long have you been an 'investor' here? Sounds like you're a bit salty about the recent pull back. Don't worry, it's part of being an investor in i3e. You'll get used to it if you stay here for a few years.
bit of a weird little rant there ibb. firstly, i'm not sure anyone on here kisses my feet, and certainly not tony. i'd also say it depends on how you define the word 'investor', but holding onto a stock when it's likely to go down isn't exactly smart investing now is it. i'm guessing you're one of those types who believes 'investing' is sitting in a stock no matter what. thankfully i'm not, which is why i managed to get out in the high teens and buy back in the 9's. you should try it some time.
as for 'doing homework', who gives a ****. it's not about who provides the information, it's what you do with it. i like to read everyone's views on here, positive and negative, and appreciate the workings of people like tony. ultimately it's my call on where to 'invest', and it all boils down to whether you're making money or not. thankfully i've done alright out of i3e. nowhere near as well as i could have done, but nowhere near as bad if i held all the way down to the 9's.
and yeah i like to call my trades, in and out, like many on here. i'll let you know when i start accumulating again :)
Why should Tony or any longer term i3 Energy investors show GGG respect and kiss his feet. He knows little about the company or the Canadian O&G industry en large. He trades in and out of this company on a weekly basis posting his trades like investing is some kind of genital measuring contest. He’s not an investor and warrants little respect from those that are investors and do the homework like Tony.
Tony, you just love to be always right and argue for the take of arguing. You have zero knowledge that Shubham doubled his position in i3 Energy. He may have however it could also easily because of confirmed losses in other holdings. You are misleading investors by saying with surety that he has doubled his i3 position and it’s a seal of approval etc etc. Happy to be proven wrong if you want to contact Shubham and confirm.
Hedges are listen in todays RNS - read down nearer to the end.
Zeus broker note has I3e for 2024E year end EBITDA £46m free cash flow £13m and Debt of £19.6m
Will not be surprised at all if we see some director buys now, they know they have dividend coverage and who doesn't want to take almost 10% yield whilst expecting capital appreciation on a very low share price.
yes, a director purchase and a return to monthly dividends and I think that puts pay to Jeezoo's post.
Tony, regarding the gas hedges you refer to, I don't see these in the 2024 Capital Budget RNS or the Final 2023 Results RNS.
Are you getting this information elsewhere?
ie "There are hedges at CAD 3.00 / GJ from November 2024 onwards"
Not to forget
Investor Presentation
Majid Shafiq, Ryan Heath and Jason Dranchuk will provide a live presentation relating to i3 Energy's 2024 Capital Budget via the Investor Meet Company platform on 2 May 2024 at 12:00pm BST.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet i3 Energy plc via:
https://www.investormeetcompany.com/i3-energy-plc/register-investor
Investors who already follow I3 ENERGY PLC on the Investor Meet Company platform will automatically be invited.
Additionally, i3 is pleased to announce that an updated corporate presentation will be available on the Company's website https://i3.energy/ coinciding with the Investor Meet Company live presentation.
Hard to say Jezzo - I would say though its probably a disagree - I think there a fews things that could bump this up before next winter.
Returning to the results:
1) Absolutely no surprises - they had already previoulsy guided on YE NOI, debt and Cash and the results were entirely consistent with this guidance. A couple of people (actually mainly one) on the ADVFN BB were commenting on the profits collapsing but again this should not have been a surprise to anyone running the numbers and in fact in WHI's report from a few days ago had the same number for 2023 .
2) There were a few things that I thought were positive - tax and SG&A were lower than I plugged into my model.
3) De-Commissioning provisions ticking down nicely
4) Gas Hedges - i3e have place gase Hedges in the CAD 2.70 range for production April through November 2024. There are hedges at CAD 3.00 / GJ from November 2024 onwards - so this is counterparties actually putting money on the line betting that Gas will be above these levels later in the year.
I would take 16p quite happily but unlike perhaps many others my average is 9p and only held them this year,
It would be even more disappointing if in another 2 years we're still below 16p though. Have to keep in mind we've been given a couple of pennies in dividends the past 2 years. But if I were a major holder right now I'd be very tempted to take 16p rather than sitting and hoping AECO is resurrected in the next 24 months. This is why 16p I think would be considered given where we are now. AIMHO GLA
16p after over 6 years as a holder would be a disappointment.
one more thing i should add is we're a very tasty t/o option right now. no debt, 180m 2p reserves, **** ton of drill ready locations, and likely commodity price upside from all the pipelines coming online and access to global gas market. that's the other possible outcome here. and the longer we stay at these levels the more attractive a t/o offer will be for our major shareholders. reckon 16p would get over the line right now. aimho gla
Stas, you were right that it was me offloading last week. I dropped about 1.5m shares at an average of 11.4p. I was hovering before the development plan wet f@rt landed - I got 150k away in the high 12's the day before and was going to drop 1m. Only if eh.
Very good value again now. Anything up to 11.5p is good to very good value with +$70m NOI and +20k production. Anything near 10p and I'll be shifting a lot of cash back into here. Horrible to watch £100k evaporate in two trading sessions. Hopefully a bounce back up to 11p which seems fair value until we see the direction of AECO.
Reckon this is a hold until H2 before seeing some strength if gas prices turn upwards and look to be staying there for the next year or two. If so I think this will bounce back to the 13-15p range this time next year. As another poster has commented, any other jumps will rely on more asset / land disposals, or a decent f/o. For those of you hoping for director buys, good luck on that one. Majid won't part with anything substantial from his $600,000 salary. He prefers to take cheap options instead. One thing that would help is a reinstatement of the monthly dividend. If AECO improves then 25-35% value uplift and a 10% dividend on top over the next 12 months. Decent return, but it will require AECO to take a step-up in that time. Decent numbers and good safety margin in between though. GLA
Is that YAWN agreeing or disagreeing ?
You didn't make yourself clear.