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I3 Energy: 11.25p Target 20p Stop Loss 8p

While there is plenty of huff and puff in the small cap resources, it is still the case that there are relatively few significant, well run producers in the space. Ironically, the market in its current mode is relatively loathed to give the few like i3 Energy (I3E) that stand out. We have been reminded of this in the wake of multiple director share purchase over the course of the autumn. The last notable one was from CEO Majid Shafik in November. All of these have been close to the 10p level. One can understand why given the way that shares of i3 were trading at more than double this level at the beginning of the year. On an operational basis, the company has got over the Q2 disruptions, so much so that for Q3 it was able to increase production enough to meet previous guidance. There is now little excuse for holding down the shares near 10p any longer.

hTTps://www.share-talk.com/week-in-small-caps-24-stocks-for-2024-zaks-traders-cafe/

Gl all

Translated

An oil discovery in the North Sea has long held the attention of two British companies, although another deal for a nearby discovery has failed.

The British company Europa Oil and Gas and the British company i3 Energy are considering plans to acquire the Tyne discovery, which was abandoned by the Spanish company Repsol earlier this year (2023), according to what I learned. It is a specialized power platform.

Europa's chief executive, William Holland, said the North Sea Transition Authority (NSTA) had indicated the two companies might make an off-round bid to discover oil in the Moray Firth.

This comes at a time when the two companies were seeking to join the nearby Serenity discovery with Tyne, via the floating production, storage and offloading vessel “Plio Holmâ€￾ belonging to Repsol.

However, these plans appear to have collapsed, when Repsol and its partners abandoned the Tyne project.

An attempt to save an oil discovery

Europa and i3 insist that the discovery still needs to be saved, even with the exit of Repsol and its partner Viaro, according to what was reported by the “ Energy Voice â€￾ platform.

“There are a number of options we can do,â€￾ Europa CEO William Holland said. “There is a discovery adjacent to Serenity called Tyne, which is an open square.â€￾

He added: "The North Sea Transitional Authority indicated that we can apply for it through an application outside the round... Therefore, we are currently analyzing the matter with our partner i3, and looking for ways to develop it, and there are a number of options."

Holland also said: “If Serenity had succeeded, we would have discovered 70 million barrels of crude oil, and our share price would have been much higher. We are in the oil and gas game, and we have to take risks.â€￾

He expressed his regret that the discovery failed, saying: “It is unfortunate that it did not work out, but it was a calculated risk... We, along with i3, thought it was a very good opportunity... A lot of investors thought it was a good opportunity, because they invested "There too, and it didn't work out...it's the nature of the game."

Floating production, storage and offloading vessel "Pleo Holm"

The floating production, storage and offloading vessel “Plio Holmâ€￾ - photo from “Energy Voiceâ€￾ platform

Options for developing oil exploration

Europa Oil & Gas had revealed - in October 2023 - that it was continuing to move forward to acquire a minority stake (25%) in the Serenity discovery, despite the setbacks that occurred last year (2022).

Operating company I3 Energy (with a 75% stake) praised the discovery for its potential to produce 100 million barrels, but disappointing evaluation results indicated that hydrocarbons were “non-existentâ€￾ in the well.

Despite this, the partners confirm that there is still a way to move forward with the project, perhaps by uni

Yep pays for Christmas 😀

Congratulations on the offer of acquisition of your gold company 35-40% increase on when you brought.

Not what you were expecting so soon.

😀🍺🚀

11.25 on news

Dividend

Directors buying

Acquisitions

Attacks on oil shipping

Fair point .

Time will tell.

In the mean time GGG is still selling his last 2 million shares down .

How many do you have now as I have notice some of the sells have match some of the buys in your other with in minutes of been traded.

Of course this won’t help and keep the share price down but once you are out the price may climb.I expect a bid to come in next year while you have sold up.

Enjoy the 3 months of 10% dividend in three weeks time .

Before you say you haven’t sold any more shares you only informed us the last 2.5 million you had sold after you had done so.

Good luck on the others watching .

Think this may be on the back burner after the ousting of Two directors from our partner and the expectations/hope of ousting the other one leaving them to appoint two previous directors who own % holding. The directors over there are putting up loads of barriers

Several scenario to your question.

Asset sale

Acquisitions

Special dividend

Takeover

Share buyback

Likelyhood taken out due to the below

"Our asset base continues to perform well, having averaged 20,640 barrels of oil equivalent per day in the first half, 9% higher than the same period last year and exiting the half-year at greater than 22,000 equivalent barrels per day, and with 2P reserves of 182 million barrels of oil equivalent value at US$1.161 billion provides a solid platform for growth."

Think we have a seller selling this week and last as he sees his prospects far better elsewhere..

Good luck

Thanks Tony for clarification bit like I3e which was also withdrawn

or they could sell the lot for 250 million and walk away.

or split the company and sell the canadian business.

strange how the directors haven’t brought any more shares considering we were told the company was undervalued at 14p.

makes me wonder if their working on a deal with another company and can’t buy.

ggg

i agree on most of what you post but you do seem to be stuck on repeating yourself and flogging your new investment.

i’ve done it my self but i would feel i taken the **** if i repeat my self regularly.

good luck on your other investment.

on my radar if this share gets taken over.

Hi 3 little birds

I have in my past life signed several MOU with companies.

In this period of exchanging information the directors can not buy shares until the company has agreed to either take the company over or signed a contract which is then announced publicly.

With the continue takeover in Clearwater I suspect the directors our covering their backs.

For what it worth if the directors are saying the company is so undervalued then the options should had been at a far higher price.Most PI seeing that RNS would be F off as it felt they are lining their pockets while the PI is suffering in collapse of the share price.

Let’s hope the bid is 20p plus .

If the CEO continues his poor performance then we can go down the route of ousting him.

I did this once before holding over 3% of the company and having 22% of the shareholders behind it only for him to announce two weeks later the company was to be split and used as a shell for a company to float on the stock market.

That’s Aim for you.

Little bird

You should try using Barclays

Price improver kicked in.

Nope it was another buy worked this afternoon after 15:00

Onwards and upwards

When

you need a crystal ball.

Curious why the directors aren’t buying when they said we were undervalued at 14p here we are at 10.24 and still no sign .

If a directors start buying then I will put the rest of my money in.

May be they can’t .

Dividend yield 10% at these silly price.

I also brought in

At 18p 17p 16p 15 p 14p 13p 12p and 11p

25 trades.

No more till next year

Your last bit of your post.

Yep let’s focus reward the directors while the share price has dropped by %

Makes you wonder if our leadership is here for one purpose only to milk the cash cow

Keep saying they won’t be around and looks like the directors agree

I3 Energy plc

("i3", "i3 Energy", or the "Company")

Q3 2023 Operational and Financial Update

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, announces the following Q3 2023 operational and financial update.

Q3 Highlights:

-- Av erage Q3 2023 production of approximately 21,156 barrels of oil equivalent per day ("boepd"), representing a 14% increase over the prior quarter and a 3% increase from Q3 2022.

-- Net operating income for the quarter reflecting restored production and strengthening commodity prices was USD 25.97 million (as compared to USD 17.66 million in Q2), representing a 47% increase quarter-over-quarter.

-- i3 remained focused on repayment of its new credit facility, with the original drawn amount of CAD 75 million reduced to CAD 66.67 million (USD 49.39 million) and net debt as at 30 September 2023 of approximately USD 27.56 million, down from USD 38.98 million as at 30 June 2023.

-- As part of i3's commitment to its total shareholder return model, dividends of GBP3.08 million (USD 3.91 million) were declared in Q3 and paid in October 2023.

-- Post quarter-end the board of directors approved a USD 6 million capital program, for the balance of 2023, centred on the Company's Glauconite and Leduc oil fairways in Central Alberta.

Tourmaline delivers strong free cash flow in the third quarter, updates five year EP plan with significantly increased free cash flow

It be interesting to see I3e results