Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Exactly Stas. It puts a tangible spotlight on how undervalued we really are.
Question is, if you can take USD 24.81 million for 388 barrels of oil equivalent per day, what's the other 20,025 boepd worth?
Production in Q4 2023 averaged 20,413 boepd.
I wouldn’t be happy paying that size of a premium but for I3e that is outstanding. Management have pulled one off there
That's one hell of a metric.
Looks great to me. Unlocking value. Our balance sheet and ability to drill and acquire is fantastic.
Sale of certain of royalty assets for a total gross cash consideration of $24.81 million, proceeds from the sale of an estimated 388 barrels of oil equivalent per day ("boe/d") translates to 6.9 times 2024 forecasted cash flow and approximately USD 63,960 per flowing boe/d, which represents a significant premium to the Company's current market valuations. Proceeds will fully eliminate #i3E's outstanding bank indebtedness and establish a working capital surplus
https://twitter.com/surprised_trade/status/1780563931884335442
No one saw that coming - really good news ! I guess the clue was the reference to the "sale of non-core assets" in a previous RNS.
Highlights the potential value in i3e's large acreage !
Balance sheet gamechanger is the reality
Im usually bearish on mostly all things but that’s very impressive from the team at the helm
Selling oil at 7x cash flow is extremely good - shows the underlying value in the rest of the folio. Also large hint that 2024 will focus on Simonette oil.
Well done management, some going
Personally I see it going sideways since 2nd April, rather than dropping like a stone
forming a nice strong resistance level I hope. The longer it goes sideways the stronger it 'should' make this resistance.
All great prior to the next step upwards.
My first time on this board during a hunt for dividend income - now well past retirement.
My reading suggests that the Canadian govt. is very fully on board with climate issues, carbon taxes etc.
Is there a view as to if this is a threat to I3E.
Apologies if this has already been covered.
Great news on windfall taxes, although sp is dropping like a stone... Some good news wouldn't go astray.
With a new government coming to power
Licence renewal in September
Should they not walk away from Uk.
Move head office to Canada .
Run by Canadians.
Save £3 million plus
List on the main market not Aim which is deteriorating year after year.
This is an Albatross that is hanging around our neck….
Progress continues with the potential development of the Serenity oil discovery in the Central North Sea alongside our partner i3 Energy plc, ahead of the licence's current expiry date in September 2024
· The partners believe that Serenity offers a commercially viable development opportunity with a number of potential development scenarios available given local infrastructure
· A future development could result in approximately 1,000 bopd net to Europa's 25% interest
· Whilst we continue to assess various development scenarios for Serenity, we are concerned about possible future UK fiscal changes in the event of a change of government which could negatively impact the economics of the project
Budget released. Confirmed no windfall taxes for O&G sector in Canada.
Here's the original motion from October 2023 re WFT in Canada based upon the same rules applied to Banks and Insurance companies ........................
Canada Recovery Dividend to Fossil Fuel Companies
'' Motion M-92 proposes to extend the Canada Recovery Dividend to include fossil fuel companies operating in Canada. The Canada Recovery Dividend applied on banking and life insurance groups is a one-time tax calculated as 15 per cent of the average Canadian-based taxable income over 2020 and 2021 in excess of $1 billion. As per the intention of the Motion, it is assumed that the one‑time tax will be levied on taxable income above $1 billion that is earned by a fossil fuel company. The tax will be paid in equal installments over the subsequent five years
The revenue impact of applying the Canada Recovery Dividend to corporations in the fossil fuel sector was estimated by subtracting $1 billion from the taxable income of each company and applying a 15 per cent tax rate to remaining income. Estimated tax payable was divided in equal installments over the five-year projection period''
The motion is being discussed again as a consideration for the 2024/2025 budget in Autumn 2024, It's nowhere near as onerous as the UK tax, sets a profit level much higher than many smaller companies achieve and should not be a major issue for I3E on the basis of the above details.
the 250k at 11.75p is mine and not a sell btw. must be someone offloading a decent chunk below that for me to get that price. no more for me unless we drop back to the 10's (and this wft bull**** goes away). gla
When is the budget announced? Given gas prices are at record lows I'm not sure how they would could tax O&G companies without crippling some of them. And it's not like Canadian O&G companies are getting global prices, which comes down to government idiocy where they'd rather give the US extra cash on their commodities then fix their infrastructure. And surely they'd look at the lack of investment in O&G in the UK post WFT to see they'll lose out overall due to less investment delivering lower production and tax revenues, plus lay-offs / unemployment in their significant home industry. And finally the world gets to pay more to c@nt regimes in Russia, Middle East, Africa and Sth America. Mind boggling stupidity that I thought only a UK government could conjure up.
Speculation for now. Let's see tomorrow. Ironically, this may push retail investors out of the big or midcaps and into small and micro. Tax pools will be important. ITE is taxable already anyway.
Thanks Tony. Ignore my previous question, I misread the results and thought that “no” won the vote hence my question on process to pay the dividend. Looks like it was a landslide loss for Canuck Da Divvy.
Eric Nutall
https://twitter.com/eri****tall/status/1779866876010443232?t=9bt7q_gkaczws1v4minz8w&s=19
Opens door for 2024 Capital Programme RNS tomorrow / this week