Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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We need Good Newsflow now re Noel Well and Oil Drills successful. One after the other. Over Next 8wk through to Aug.
Picked up from the CEO website. Slides 8-10 go to further highlight the potential of the Montney / Simonette Acreage.
https://static1.squarespace.com/static/5ebeb3beb8891c6346025774/t/609a62aa21354f56c9777a2e/1620730544066/2021-05-11+-+Spartan+Delta+Investor+Presentation+-+Q1+Update.pdf
I'll come along for the donkey ride as well Tony. WTI now above $72. F@cking madness this share price. We're either going to get a soft / small re-rate to 10-11p on the divi or we're going to need something to light the blue touchpaper. I agree with your comment that we may need to wait until the f/o to see the proper re-rate to 15p range. Or we could end up being taken out. Happy to wait and pick up a nice tax free divi in the meantime.
The SP is not even reflecting the increase in the PO or the recent work overs at Simonette.
I'm positive that the market will wake up one day and we will see a significant re-rate. If not - ill climb on my donkey and head off and see if BBN will give me a job!
It's why I've been saying announcement and approach of the ex-divi date will start some sp movement. When investors realize the divi yield (and how safe it is), plus the value story, they will start to jump in here. I'm fully expecting us to be in double digits before the ex-divi date and I don't expect much of a drop afterwards as the value story is too compelling. I also think we'll get some news around that time to keep investors believing the best of both worlds can exist. GLA
RE dividend strategy, saw this and wondered whether i3E were in the article...
https://www.proactiveinvestors.co.uk/companies/news/950735/dividend-diamonds-on-aim-950735.html
and where they would be in the table come July-ish?
Damn ggg ur happy with 18p? Each to their own, but I'm sure you will be able to sell your shares at the open market for 18p before years end, end of q1 2022 at worst. I for one hope that they will grow production at fast as possible at all of their assets, then sell the company when growth slows down, hopefully at top of the cycle when all oil companies have re-rated .
Given the low volume trades and no news the sp is at the mercy of small time traders. Those sells were probably from someone who bought in the low 8's (or even high 7's) recently and took their 10-15% off the table. A couple of £k for a couple of weeks. Until we get the next decent piece of news I can weirdly see us dropping back down to mid 8's. Higher than the recent lows of mid 7's, but low enough for the traders to come back and put their £10-20k in us for a little while longer. It's the perfect company to trade in many ways. No short term downside unless you've timed it wrong by half a pence, but potential 10-100% upside depending on news like landing like exploration success or f/o. For all we know they could be about to do another bigger deal or get eaten themselves. I can see an offer of 18p+ being enough to take the lot from all of us.
Poo going berserk and we're going backwards. Mind boggling market action and valuation. I noted people talking about i3e being a t/o target. Something I've been saying for a little while now. I'd be absolutely amazed if i3e wasn't rated highly on a number of lists given how undervalued we are at the moment, which is exactly the time a t/o will happen. We have South Simonette, Clearwater and Nth Sea acreage with huge resources and relatively fast monetization avenues. The Nth Sea is the one that would take the longest amount of time. But if we execute a f/o with Repsol it can be brought online very quickly. Production of 10kbopd (Brent) could be added almost as quickly as the +50 or so wells needing to be drilled in Canada to produce the same amount of revenue. All things a predator would be considering. Given fair value for current and soon to be added production sits us somewhere between 15-18p on most metrics, a bid of 20p would give the buyer fantastic value, and I'd say most shareholders reason to be happy. I do think the IIs would sell as they'd be handsomely in profit. And I'd be more than happy to take 20p tomorrow rather than 12-18 months from now, so they'd get my not so insignificant holding no questions asked. Having said this if I need to hold for another 12 months for 20p and pick up dividends for my patience then I'm more than happy for this to happen as well. I also don't think divi policy has any bearing on whether we're a t/o target, or being set up to be sold. It's simply wise mgt given the roller coaster we've been on and could be back on depending on what happens to Covid this winter. AIMHO GLA
The selling is a head scratcher - would love to know what the person or persons who made the following two trades were thinking:
154,281....8.902p....SELL
167,258....8.903p....SELL
Nomad,
I'm not sure about the dividend bit, but I agree that we would need to be producing quite a bit more to get near to what many here think would represent value. Bit like Wheeler Dealer, buy a fixer upper, spend a bit of dosh (actually a lot of dosh) and then sell for top dollar.
The trouble is (if were right), if others see the value, make an opportunistic bid and i3e sells up for less than the potential.
If there was a bid for 20p for example - I think many would be tempted to sell. I think GGG has mentioned 20p as a target for him. 20p would represent a handsome profit over the current SP and a bid of significantly less than 20p might tempt many to sell.
With a potential 30,000 boepd at Simonette, 10,000 boepd at Serenity and who knows what at Clearwater - its obvious the SP could be many multiples of where it is now and why 20p would not get me selling.
To Clarify. I am talking T/O after next 12/24 Months. Not in the immediate 12 Months. Once the Assets are providing Data over a Full Annual Period / then T/O potential rises imo.
The dividend strategy doesn’t quite align to setting up for a takeover? Hopefully they don’t, I’m happy having my money running in here. If i3e get production up to 15-20k with a good mix of liquids, then be happy to start thinking about takeover at much more attractive pricing.
Oil at $73.3
We still have impatient investors.
Tony
Majid did say in the proactive interview they have been approached for the montney acreage from various parties.
So does look promising.
Fastfood,
You could be right, the is what the President of i3 Canada (Ryan Heath) had to say :
"The recent increase in global oil prices has resulted in a significant increase in M&A activity in offsetting Montney acreage, as competitors seek to grow their exposure to this prolific play. In this environment i3 is very pleased to capture a near 100% operated and contiguous working interest in over 120 km2 of Montney acreage in Simonette which includes strategically located processing infrastructure. THIS IS NOW A VERY ATTRACTIVE PACKAGE."
The last sentence strikes me as a little odd - you might have expected him to say " this acreage has the potential to produce up to 30,000 boepd and i3e will be focusing on aggressively expanding production" instead he says " THIS IS NOW A VERY ATTRACTIVE PACKAGE." Are they planning to sell ?
I think they might - to tap into this potential and add say 15,000 boepd of production could take +/- $100M of Capex which they dont have. To fast track this, they would either have to take on debt, sell some acreage or perhaps do a farm-in.
All will be revealed in the coming months - I think they have lots of options !
With all the M&A activity forecast next 12/24 month ; is it the case that i3 are positioning themselves as a more and more attractive proposition re T/O Target / Given that we all perceive we are Undervalued ? Majid can then go back to Financing and Graham into Owning a string of Nightclubs ?