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The recent spike in EOG was because of the serenity deal coming to fruition. If the deal falters, EOG goes sub 1p IMV.
If we’re not for oil appraisal and growing oil production what are for?
Yes the dividends are set, but a special dividend is likely to be substantial. 7-8x the monthly rate. This will negatively impact the share price on ex-divi day (as fly-by-night investors pile in for the divi and pile out afterwards).
An alternative would be a share buyback. This would encourage long term investing for a monthly return which will be enhanced (fewer shares to distribute cash to). It will have a positive impact on the SP but reduce liquidity (to a degree).
I favour the latter approach.
Beyond a macro 'bull' or 'bear' perspective, it's a waste of time speculating over micro share price moves.
Look at the one year chart for i3E.... Is it going up or down?.... UP ..... Then buy and hold.
Everything else is a random walk.
For the only North Sea drill on AIM this year. And it a beauty!
GLA
Concerning a possible connection between the Serenity and Tain oil fields, Majid Shafiq said:
“If you’ve got an oil field that straddles a block boundary you normally end up in a unitisation arrangement if the block is to be developed properly. If we are connected (Serenity to Tain), which we believe we are, there’ll have to be some sort of commercial arrangement to develop the field properly. The OGA will expect that. So we will have to enter into a commercial discussion with the operators, Repsol-Sinopec and Rockrose energy. (These companies) are looking to develop TAIN so they’re going through an FDP process. If it’s true that we (Serenity) are connected, we would be part of that development”
https://www.proactiveinvestors.co.uk/companies/news/905864/i3-energy-team-discuss-transformational-discovery-at-serenity-905864.html
At 4mins. 37secs
Any thoughts on how this might benefit us beyond the immediate Serenity drill?
Concerning a possible connection between the Serenity and Tain oil fields, Majid Shafiq said:
“If you’ve got an oil field that straddles a block boundary you normally end up in a unitisation arrangement if the block is to be developed properly. If we are connected (Serenity to Tain), which we believe we are, there’ll have to be some sort of commercial arrangement to develop the field properly. The OGA will expect that. So we will have to enter into a commercial discussion with the operators, Repsol-Sinopec and Rockrose energy. (These companies) are looking to develop TAIN so they’re going through an FDP process. If it’s true that we (Serenity) are connected, we would be part of that development”
https://www.proactiveinvestors.co.uk/companies/news/905864/i3-energy-team-discuss-transformational-discovery-at-serenity-905864.html
At 4mins. 37secs
Any thoughts on how this might benefit us beyond the immediate Serenity drill?
Churn through them new shares???
This isn’t a dead company fundraising to pay wages. Most people buying shares (including directors) want the company making shareprice upside; they’re LTHs.
It was an inside bar on the chart which suggests a reversal into the yawning gap that formed this week.
I expect EOG to start tracking upwards on Monday.
I think serenity F/O has been priced in. Investors have been told over and over that the deal was pretty much done. I imagine it'll get voted through at EOG's AGM and both companies will be off to the races with a Q3 drill campaign.
What we're seeing today is another changing of the guards. Profit taking and topping up: all very healthy.