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Am I correct in Tennyson valuing Serenity at $13.85 per boe...? That's much higher than I was expecting. For some reason I had $4-5 per 2P bbl in my head.
I’ve added over the last 2 weeks and surpassed my original target of 50k shares, now hold just over 54k, not large compared to some but nice enough for me. Looks like we may hold 30p, 30.5p on the bid
you can see what value Tennyson are ascribing to oil in the ground in their latest reportsfor both i3e & eog
Nice to see some poo strength, and AECO pushing up. Hopefully a weekly close above 30p today and news on Monday. They've got an immense amount of things to report so it's certainly going to be interesting to see the market reaction, especially if oil and gas prices continue to push upwards over the coming weeks. And then we have Serenity being drilled in the next 4 weeks. I stick by my 34-38p range before we get news. I don't see our mcap being at +£500m until we hear something.
Apologies for repeating my earlier question, but does anyone have accepted industry norms for valuing 2p reserves in the ground? I'm basically wanting to work out what the industry would ascribe to 100m (Brent) 2P reserves should we prove it up in Serenity.
Good thing is we're still rising into news that will no doubt be very +ve. Also great to see we've had some above average well results with our partner. Back to my question from the other day, does anyone have accepted industry norms for valuing 2p reserves in the ground? I'm basically wanting to work out what the industry would ascribe to 100m 2P.
Very robust SP. Maybe an rns in the morning.....?
Which company is the partner?
Great Analysis as always from our in house Technical expert !!
Thanks Joe - not sure why you are keeping Mum on the "Partner" . For anyone that is interested - take a look at Rubellites 2nd quarter update !
Now that our partner has updated - not excuse now for i3e to update tomorrow !! - lets see.
Tony, look at the chart on the daily going back to the 30/08/19. I once reported here the cup and handle formation and how it needs to make the right brim, then fall back for the handle before travelling up higher.
The right brim was made around the 9th June, the fall back was also as predicted, or at least very close to being the low of the 7th July. We are now on the rise up as the C&H formation would predict. The bottom of the handle formation was text book dropping to both the longer term AND shorter term 38.2% fib before rebounding. If the formation plays out in the same text book manner, then the top is the calculation of the height from the brim to the base, doubled thus target price is 60.5p.
Sounds nuts but truly, I have never (outside of forex) seen such a perfectly made formation, we should see resistances on the way up at 36.2p and 45.2 these being the long term fibs of 61.8% and 78.6%. (the 78.6% being the weaker resistance).
Technically On-balance volume is increasing, ASO is crossing up and nothing yet showing as overbought. All EMA's and SMA's showing up and in parallel so no crosses since the 20day SMA passes up through the 100 and 50, all indicators are positive.
Cheers Joe
ELSteve- here is a taster for you, from our partner released yesterday:
At Marten Hills, the final eight-leg multi-lateral well of the four (2.0 net) well winter drilling program was rig released in early April. Two of the four winter drilling program wells reached the end of their initial 30-day production periods, recording IP30 rates of 142 bbl/d and 139 bbl/d as compared to the Marten Hills type curve(1) IP30 of 120 bbl/d. The remaining two winter-program wells reached the end of their initial 30-day production periods during May, also performing slightly stronger than the Marten Hills type curve with average IP30 rates of 186 and 179 bbl/d. With the rig racked on location at Marten Hills over spring break up, dry field conditions permitted the spud of two additional horizontal multi-lateral wells in June prior to re-locating the rig to Figure Lake. The two new wells were drilled at the Marten Hills Area’s after payout working interest of 30%. The first well was rig released in mid-June, reached full recovery of its oil-based mud load fluid on July 6th and achieved an average IP30 rate of 188 bbl/d. The second adjacent well rig released in early July, reached full recovery of oil-based mud in late July and is performing positively, commensurate with the neighboring well.
HTH
Stas20,
What's the chart telling you - the SP is remarkably solid on low volume. There seems to be plenty of buyers out there and not many sellers although the SP seems to be in a wait and see mode.
Just that I would have liked to have seen a little more news flow, like most other people on here too.
I was, I was wrong obviously and as already discussed below, you're point being?
Hi Stas, I thought you were calling for a Monday RNS in one of your posts from Friday ;-)
Careful Steve, i3e are not delayed or tardy in their release. I think we have just been a little more optimistic hoping for faster releases post the quarters end. last years Operational and Financial Update was on the 16th August. The seemed delay is really our own impatience and admittedly my trying to estimate 'average' length of days past quarter. In reality this release of update is still 5 days off from this time last year.
I am confident that the numbers when they come will be good however the company does need to update the market on it's Q2 and the drilling programme in a more timely manner I feel. Delays and tardiness can start to sap a little confidence from the wider market which then affects the share price and all of our investments, we need updates to continue the momentum because at the moment we have stalled somewhat.
Astonished? Really?
It will come when it comes.
DYOR
fairdealer, of course its guess work and a little bit of fun, however its quite logical in its timing. One thing is for sure, we've all been wrong here as to when the Q2 will be released, but I truly will be astonished if it is not next week now!
Mostly hypothetical...a Traders wish-list.
Dividend announcements are well Diarised.
Until the company announces Drill contract and programme, impossible to make any conclusions when results will be released.
All conjecture on ADVFN. Wait for the real News.
GLA
Nice list of news to come over on ADVFN by Pro_S2009
"So, lets estimate again the coming RNS
Week commencing Monday 15th August - Operational and Financial Update
Rig mobilisation news and Q2 results.
Week commencing Monday 5th September - October dividend announcement
0.1425p a share again.
Week commencing 12th or 19th September - Serenity Appraisal well spud
Week commencing 26th September - Interims
Half year report and potential Special Dividend news.
Week commencing 10th or 17th October - Serenity appraisal well results due."