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Stockopedia ranking increased to 90 as it joins a few others in the pf on 90+..........broker has 21p target..
https://twitter.com/surprised_trade/status/1789989860566094246
According to the BOE Report Website, I3E have just recieved their 1st Licence for this years drilling campaign - it could spud pretty shortly.
GLAUCONITIC SS WILLESDEN GREEN 12-33-041-05W5
Tony, I do enjoy your posts and agree that I have been silly at times on this message board compared to CEO dot com and Twitter etc. I will virtually shake your hand and leave the silliness behind.
“50% undervalued, and not sure what catalysts this team has to get the market to give it the valuation it thinks it deserves.”
canuck, enough of the negative bull****. did you listen to the webinar earlier this month? montney and clearwater drilling campaigns are starting later this year and will be ramping up in 2025. please just cut your loses and sell and buy $cnq. $ite laid out some very clear and realistic catalysts. not to mention that they are hedging 2025 at $3.40 or 3x current strip!!
Https://1drv.ms/i/c/0c8247dcfb29aa84/EW_aNief5m5Oo8EEeDJCyAcBOTKqD3ecypft1uW0ri6miQ?e=rRjmRL
This graph supports what I said below - i.e. that PDP values are dependent on the assumptions / price decks you use so if your comparing valations against peers - calculations should be made on the same basis.
As per graph - I3e trades at 60% of PDP where as the median company trades at 130% of PDP. Assuming that we should trade at the median (+/-), this would put us a lot closer to the 20p valuation that i3e stated in the podcast
"50% undervalued " - Maybe, maybe not. i3e in their recent podcast stated that they traded at 55% of PDP whereas peers traded at 100%. On that basis i3e claimed SP to be worth 20p on a PDP basis. Tennyson have done their own DCF calculation so you you would have to check calculations / assumed Oil & Gas pricess vis a vis peers to ensure its a like for like comparison.
The chart is setting up very nicely IMO.
Interesting read.
Calling for 38p price target, on 2P basis and Brent $65 and AECO $3/mcf (USD)
On a PDP basis price target is 15p. In Canada gas weighted names are valued at PDP, so 15p is the number to look for, not the 38p.
50% undervalued, and not sure what catalysts this team has to get the market to give it the valuation it thinks it deserves.
'The data you are quoting I assume is from the AIF - thats only available through SEDAR correct ?'
As I stated, it is all from the AIF: no need for you to assume!
And the AIF, although required by Canada and released through SEDAR, is on the i3E website.
Try https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2024/05/i3Energy_AIF.pdf if you can't get through SEDAR.
Just noticed a 134k buy @ 11.32p early doors here today - director buy ??
He may have referenced access to capital but he most certainly talked about the cost and regulatory burden of a main market listing.
Agree Joe that the EOG report is for 2022 but as 2022 was a boom year and 2023 was a bit of a reset / recession for i3e - I was pretty confident that the 2022 might overstate the numbers if anything for UK employees.
The data you are quoting I assume is from the AIF - thats only available through SEDAR correct ?
@Tony re headcount on Advfn:
Although the ESG was released in 2024, the period covered is 2022. There is text 'Unless otherwise stated, this report presents data and information from the year 2022.'
(Wonder when we get the 2023 issue! Seems most of the info was in the 2023AR.)
However, "As at December 31, 2023, i3 Energy’s UK operations had one full-time employee, three part-time employees and two consultants/contract operators, all located in the UK offices."[cf. 4 UK employees (4 FT / 0 PT), 2 UK contractors]
and 49 Canadian employees (49 FT / 0 PT), 75 Canadian contractors has become 53 full-time employees, one part-time employee and 73 consultants/contract operators.
All from the AIF: worth a read imo...
HTH
IBB_INVEST,
Your posts on CA CEO ITE have generally been pretty decent - for some reason you have decended to silly here !
You already told me which was question you submitted and seemed to be pretty chuffed with yourself that Majid ackowledged that your question was not just valid but "very valid". A gold star to you my friend !
I did not ask any questions on sharebuybacks , i3e's stance was made clear months ago. My podcast questions were on Serenity and the Capital Restructure and you are incorrect (again) on the Capital Restructure - the latest restructure is still in the court / company house process - i.e. not approved yet.
The previous capital structure as far as I know is approved though I dont recall seeing the final RNS confirming that it had been registered with Company House.
This did raise the even more "very valid" question why it was required as the previous restructure would have covered dividends for years to come. The nuiance here may have escaped you - so worth repeating here and as infered by the I3e response to the question - the reason for the latest capital restructure is to ensure they have sufficient distributable reserves in case they have to take a write down (impairment charge) on Serenity. If it was a full write down, this would have prevented the payment of dividends, this new restructure would remedy this.
Ha! I do regularly email IR and several of the questions from the webinar were mine! I bet that the stupidest question about when is a share buyback starting now that the capital reduction program was approved was from Tony!
Actually Majid said how much he liked the easy access to capital on AIM. Might be the motive for the Works as well.
This company is such a difficult hold. Another disposal of non-core assets would certainly help. GLA
Meeting was positive and helps those on board keep sanity. Still surprised at market reaction to budget. Company with £130m mcap spending £40m on drilling this year, into a rising price environment, seems decent.
Good spot JMort - this is exactly how i3e responded to the same question put to them in a previous "investor meet company" podcast i.e. the cost and regulatory burden is too much for a Company of i3e's size.
Some have commented on this BB how being listed on AIM negatively affects I3E share price. Interesting that The Works has just moved from the main market of the LSE to AIM. Not that I3E is big enough for the ftse 250 (yet!) but this does highlight the benefits of AIM.
The directors argued that an admission to AIM would be more appropriate for the retailer due to the cost and regulatory requirements of the main market becoming progressively higher in recent years and disproportionately burdensome.
https://www.proactiveinvestors.co.uk/companies/news/1046775/the-works-completes-cost-saving-move-to-london-s-junior-market-1046775.html
Tony agrees !
Jezzoo agrees.
Panama Pete says there’s something weird about people who speak in the third person.
How was the humble pie ?
I'm not always right, but when you're right, your right - right ?
and by the way, the improvement in i3e IR had nothing to do with you - it was due people like myself that took the time to write into i3e rather than have a rant on this BB like you. Maybe you have learnt something new - less rant and more emails to the Company !