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However it unfolds it's going to be really interesting..certainly a hold for me to H2 -17 drill..maybe longer with the prospect of other 'near term production' purchases in the pipeline ( forgive the pun) will continually add value to our holding. As an aside how will we shareholders have the new i3e shares credited to our accounts..will it be automatic or do we have to do something..remember something about a dividend but not sure how that works..bound to be someone more knowledgeable than me out there so come on guys and gals info please thank you pompey
is fantastic news!!!, Let us now see how this unfolds!!!!
Very happy with that RNS! Progress has been a lot quicker than expected. IPO by end of Feb would be brilliant.
A prosperous new year too all. Yippee
All falling into place nicely :-)
Your I3 will not be linked to Gwik sp. but they said we should double our money when converted to I3 shares so u will get the equivalent of .010 ish in I3 shares at what ever price they float at I'm guessing but you will still hold the same number of Gwik shares so what ever they come back at is bonus dosh
Totally agree Brummie, just a question now of what sp could be when we come out of suspension. Best to manage expectations realistically but as you say it will be linked to value of i3 and not the current sp. How much % did we achieve on the initial talks, may be surprisingly higher than we think as oil was not even $50 at the time. Only time will tell but nice to see the bb come back to life again. atb
"Based on the production profiles and development costs derived from i3, and at $50/barrel oil price, the project has a potential pre-tax valuation of cUS$400 million, which would be consistent with established evaluation methods and practices for analogous oil fields in the North Sea."
Oil prices rise on expected drop in U.S. crude inventories Well it's over the 50 dollar mark by 10 percent so we are now share holders in @ 440mill company Sounds good to me
No problem mate, just a question now of how many weeks "in the coming weeks" that actually means, could be 2 or 3 could be 5 or 6. No point dragging it out now, I am sure i3 want to list on AIM as soon as possible to start the bigger investors to fund raise the £45m or so for the final drilling stage. atb
Thanks for the reply, that was my understanding too but needs to be soon tho. Would be great to have 2 assets and I think that is what the bod want or little point them being there.
Hi Bod, absolutely not mate, I was just trying to point out to Jezzoo we do not need an rto to finalise the IPO with i3, if you read Jezzoo's p[ost that's how it came across to me that he thought we needed an rto no matter what. I would be over the moon mate to have both as I see an rto as a total bonus / icing on the cake. atb
Hi Mike, if we have the ipo and separate shares in i3, would it matter if we rto and dilute gwik? Cheers
Looks like we may have time now boom They have been doing all that due diligence in the background as they told us by rns Guess that not wasted time now
Well said Boom, much more eloquently put than my effort below but we singing from the same hymn sheet mate! atb Mike
No info on i3 website as yet tho. Will have to keep an eye on that.
We don't need an rto if we IPO into i3. We do need an asset to rto into if we do that as well. We could have both mate but the IPO is the big one as to acquire an asset to rto into with no funds means we have to raise cash and dilute the hell out of Gwik to raise that cash, basically. But lets not take anything away, this is excellent news, full stop. atb
So "completed acquisition of Oil Well" which basically means its now a done deal and nothing in the way. Excellent news. atb
Not that would had much choice but great news for all those still holding ;) Getting excited!! GLA
We still need an asset to RTO into though is that correct ? This could turn out to be a very good year indeed !
One big hurdle out of the way
You guys are quick. This really should rocket on release. ..so unleash the kraken plz
Sounds good to me !!
Glenwick's Board of Directors are pleased to announce that they have been informed by i3 Energy that it has received final licence assignment consent from the UK Oil & Gas Authority, and i3 has now completed its acquisition of the previously mentioned North Sea Oil discovery. Further details regarding the asset and i3's forward plan will be released in the coming weeks.