The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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From Sedar:
Annual General Meeting
June 27, 2024.
Well worth a repost...
https://www.youtube.com/watch?v=Il9-eIADc0k
Yeah thinking my ISA allowance to be invested now…been holding back….could claw back my losses if gets back to 15p 🤞
A good day and very well deserved.
Blockbuster growth news much anticipated.
Buy, hold, reinvest for me.
Wow something going on here me thinks,I was expecting the normal retrace at end of day not up by 6%, got to be news next week surely....
Great momentum so far…long May it continue. Onwards and upwards…
A little nosey birdy found out that their new Canadian lender is National Bank. For those that don't know, National Bank are a leading Canadian business lender that publish great company analysis. i3 couldn't have gotten a better Canadian bank to partner with. They are integral to the Western Canadian oil industry. Great job management on this effort!
You have a good memory Stas. I think Tony was the one arguing the most about the sp not going below the raise price back then. I waited and bought a lot in the 4's. Should have bought more. Also bought more after the second great dilution event in the 9's and 10's. Also argued with certain posters the sp would be depressed for up to a year and would go below the placing price.
Agree that we're well set up for growth at the moment. I'm not in the same place as some on here about buying distressed gas assets. Although I think there will be a lot floating around, I don't believe gas prices will recover for some time. The world is awash with it, and a lot of countries are using less as part of their energy mix.
I am however confident that oil will average above $70 for the next year or two. OPEC is seeing to this, and so long as Ukraine keeps fighting Russia they will continue to target energy infrastructure. And then there's Iran and sanctions. Plus the US is starting to deplete its reserves. So I'd start a decent oil drilling campaign but keep some cash in reserve. Maybe invest USD$50m over the next 12 months. Some will be paid for out of cash we're generating, and the remainder should be topped up from debt. A poster commented on companies with dominant liquids ratios being valued higher so this should yield value and support income. As I've stated previously we'll also prove up more acreage / reserves, which will make us more valuable to investors and would be predators.
If I'm wrong and gas prices improve to average CAD$3 or more then a dividend hike would also be good to see. I agree the Nth Sea is a waste of time and money now. It's also very risky from an execution standpoint, let alone adding h@lfwit government risk. They should write it off if needs be. Ideally they will get a bit of cash though. Only reason I'd progress is if we get a bigger player on-board who run the show e.g. Serica.
Either way all looking good right now. PTAL back on sale currently so grabbed another 25k over there this morning. If my 750k shares in DELT pay off in the coming months then I'll be buying significantly more here and in PTAL (providing prices are near these levels). Not long until things kick off over there so will find out soon enough. GLA
Agree that Majid is playing a long game.
Looking forward to an imminent major drill programme announcement for the Montney with a near term view to adding 10,000 oil rich boepd.
Stas, I got some at 3.64p. Which I believe was almost the lowest purchase on the worst day. Of course, it was only a £1.5k top up but still feels good to hit a low low. Was a big purchaser below 5p after initial Toscana deal. Having gone through the troubles of Glenwick and Liberty drills, it was a no brainer at the time.
Well past the point of "light at the end of the tunnel" but also feel the company is setting itself up to be a mid-cap producer. Masjid always said deliver the deals and the results and the rest will take care of itself. Possibly frustrating when we're used to pump and dump type companies shouting from the rooftops. Majid is playing it long and I'm very happy with my money sat in i3e.
My lowest purchase was at 4.19p on 30/10/2020, GGG also purchased I think at the same time, indeed I remember arguing with him that I thought 6p was good but he wasn't buying that high at the time, lol. Nothing stopped anyone buying at these lows indeed I can see 6 trades in my i3 spreadsheet all under 5p and all on 6 separate days. I like the Dividend, indeed if I didn't have it I might even go elsewhere, thus I don't see how it stifles growth indeed it attracts investment.
So what if Polus doubled their money - they placed their bet and they won. Your only jealous that you lacked the b@llocks and / or the brains to buy shares at the same price as they did. In fact retail shareholders had the opportunity to buy in lower than polus did as the sp drifted slightly lower after each placing.
In addition - I like the dividend, every other poster on here that i've seen like the dividend also. Your the only one i've seen that doesnt like the dividend. I have two suggestions:
1) Write a cheque to i3e and give back your dividend
or
2) Sell your shares and p1ss off !
"Canadian shareholders are currently not that important - are you going to pander to the 10% or the 90% that stumped up the cash when it mattered ?"
That's some fighting words right thar! Polus already doubled its money, their 235M shares are likely free, and yet they insist on getting a dividend which stifles growth.
And your missing something else which is mentioned in the i3e response. The North American Market was almost dead in terms of institutional support when i3e were looking to get the finance to purchase Canadian assets. Even the UK retail market was pretty lacklustre and have always failed to take up the shares set aside for them in various placings. Without the Uk Institutions , I3e will have almost certainly gone bankrupt. Re-read what i3e said about Institutional Ownership.
As I have said previously, Canadian shareholders are currently not that important - are you going to pander to the 10% or the 90% that stumped up the cash when it mattered ?
We can agree to disagree - but imo your not understanding the response from i3e. I3e were 6 out of 10 in the list you presented in terms of revenue and only have 1/10 the liquidity of its peers - why would they waste money when the stadium is only 1/10 full.
I still disagree with out on your view of the low Canadian coverage being the result of only 10% Canadian share ownership. Still my view that the 10% is the result of next to no Canadian institutional coverage and not the other way round. We shall agree to disagree on this one.
I also messaged IR showing them the extensive and impressive coverage by all of i3' peers and today got the finally response:
"I3 hired Canaccord Genuity as broker in Canada last year and the firm has published research on i3 Energy which is distributed to the institutional market in North America."
Unlike one or two here who believe it is more more constructive to moan on this forum rather than asking the Company a question - I forwarded a couple of the gripes to i3e (Camarco) The response is pasted below in inverted commas:
So I already highlighted that i3e was one of the smaller Companies on the list of the 10 "peers" previously highlighted here. As many know - only 10% of the shareholders are Canadian . So not only are we one of the smallest Companies, there's only 10% of the liquidity for Investment Banks to trade and earn commisions vis a vis canadian peers where you have 100%. I'm not saying that i3e cannot do more - but some of the comments posted by others lack context or pespective. Anyway - i3e response below:
"The Cannacord Genuity analyst covering i3e is not a third-rate analyst. Regarding making their investment research available to retail investors, all banks have their own compliance procedures which may or may not allow distribution of their research to retail investors. I3 Energy is not involved in their decision making in this regard. Investment banks have their own criteria to consider when allocating their resources. One criteria is the amount of income they might receive from trading volumes in the stock and potential investment banking income generated from the relationship developed with the corporate entity. Small cap stocks like i3 Energy have more limited trading volumes and in i3 Energy’s case as circa 90% of its shareholding is UK based, the majority of its liquidity is on the AIM market which is not traded by many Canadian brokers. It is especially true for small cap stocks that institutional shareholders typically appear on the register as part of an equity raising process because there is not enough liquidity to build significant positions in open market trading without materially moving the price. The equity raised by i3 Energy to fund its acquisitions in Canada was all raised in the London market in 2020 and 2021, when the North American equity market for small cap Canadian oil and gas stocks was extremely limited. I3 Energy has grown its Canadian shareholding over time from circa 3% to just over 10% and we expect it to continually to grow organically, particularly the retail element. A significant growth in the institutional shareholding percentage will take longer and will likely be associated with an equity raise in Canada, for which the Company has no plans at the moment."