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Slater or premier Milton voted resolution11
Down .
Still don’t see why we need to buy another company when we have so many oil wells to develop.Unless the company has huge tax losses.
Let’s get on with the job and bring in steady revenue and focus on the areas for drilling where we are getting the most oil /gas from.
Improve communication and be more active with information on how well new wells are doing.
Special resolution 11, to authorize the Directors to disapply pre-emption rights. Section 561(1) of the Companies Act 2006 provides that if the Directors wish to allot any equity securities or sell any treasury shares (if it holds any), for cash, the Company must first offer them to existing shareholders in proportion to their existing shareholdings. Section 561 does not apply in connection with allotments made pursuant to an employee share scheme.
The purpose of this resolution was to seek power for the Directors to allot equity securities or sell any treasury shares for cash as if Section 561(1) of the Companies Act 2006 did not apply in connection with rights issues, open offers and other pre-emptive and non-pre-emptive offers and issues pursuant to the authority granted by resolution 10, to authorize the Directors to allot Ordinary Shares.
As a result of the resolution not passing the Company will seek shareholder approval to disapply pre-emptive rights if and as required.
G-G-G
Question is
Whose buying all those million trades and the company has to go through and offer to shareholders first before offering a placing
The question which nobody can answer is will oil travel back upto the $90 by winter.
We could be a prime takeover.
What was not acceptable was the delay release on wild fires has had an effect on some of our wells,
No dividend announced till the last moment.
The positives on our dividend even though it was going to be cut.
In all I would had not invested most of my money recently if I had known about these issues.Very frustrating for all who have been caught.
Luckily I made a decent investment two weeks ago so my losses aren’t so bad but bad enough.
Just wondering why you think the company won’t make any profit in the first quarter for dividend payments and second quarter .
Iam expecting 10 million and 6 million profit for second quarter .
Average daily production (BOE/d)
2022: 20,317
2021: 12,442
2020: 8,732
2019: 0
Group Revenue (£m)
2022: 208.4
2021: 86.8
2020: 13.0
2019: 0
2P reserves (MMBOE)
2022: 181.5
2021: 154.1
2020: 54.0
2019: 0
Group Profit / (loss) after tax (£m)
2022: 42.0
2021: 25.1
2020: 11.7
2019: (10.9)
PDP reserves (MMBOE)
2022: 49.1
2021: 46.2
2020: 18.1
2019: 0
Group NOI (£m) (1)
2022: 131.7
2021: 48.6
2020: 4.9
2019: 0
2P reserves Before-tax NPV 10 (USDm)
2022: 1,162
2021: 775
2020: 183
2019: 0
Group Adjusted EBITDA (£m) (1)
2022: 98.0
2021: 30.2
2020: (0.8)
2019: (5)
Dividends declared (£m)
2022: 17.4
2021: 3.4
2020: 0
2019: 0
(1) Non-
Where are the first quarter results and dividend.
Feels as if something going on .Takeover,merger or acquisition or just late
This is what the company says
i3 is committed to returning value to shareholders through the deployment of its growth model, by way of growth-related share price appreciation, monthly dividend distributions, and opportunistic share buybacks.
Tony
I see you have a new poster to keep under control.Reminds me of someone else
May be it’s his twin.
Profit first quarter due to production increase and reduction on well drilling due to completing several wells end of 2022 instead of first quarter.
£16 million .
Waiting for acquisition .
Love the dividends of 11% reinvested each month
Mate you at least made me chuckle
Firstly get some cred.You joined today.
Second get your facts right before putting crap on here.London investment company.
Not Canadian .
Third Canada market has not traded 10 million shares yesterday .The normal is 100,000 if you are lucky.
Canada has only 10% of the shares 120 million .
Give you a tip go to Advfn and tap in Ite this is the Canada share trade page.
Last and most recommended part is book yourself into spec savers you need a eye test
Tony we are correct.
One of our investors on ADVFn got a reply from I3E on why the end of years haven’t been posted this may have caused a bit more buying in the last 1 1/2 hours .
I’ve just received a reply to a few of my questions. Here is an excerpt of the replies specific to finals /
Regarding the YE financials, I can assure you there is no problem with them; the accounts preparation and audit process have simply taken longer than anticipated. The accounts will be published when the audit process finished.
My wife is a company accountant and her job is to make sure the accounts are accurate and all is accounted for.Once the accounts have been completed they then go to the auditors to be checked.
As said before the CFO we don’t have a director of finance will need to do the same as anything not accurate will be held account for not been accurate.Doing the end of year accounts is not a days job and is gradually built up over the months to finally finishing with completion.My wife is
Off for the week to complete
Hers.
For someone who has only started a few weeks ago he has a mountain to climb to get completed.
Yes the accounts should had been RNS with a actual confirmed date.
What’s a few weeks .Let’s hope we have a update soon and also on first quarter and new well production.
From a poster on ADVFN
That twitter link refers to the valuation of PDP reserves only.
PDP = proven, developed, producing - in other words a subset of the company's assets
i3E has a lot of acreage which contains reserves
A lot of those reserves are still classified as unproven - ie probable + possible (P2 + P3)
Of the Proven reserves (P1) a lot has not yet been developed
And of the Proven Developed Reserves some is not yet in Production.
Total reserves = PDP + PD(non-producing) + P(undeveloped) + P2 +P3
Clearly there is a lot of value which is excluded from the PDP figure.
And reserves of all flavours do not include the potential value of acreage which has yet to be drilled. Undrilled acreage might contain resources but they don't become reserves until they've been drilled.
Bottom line is that valuations based on PDP are the most conservative possible valuations. They are popular in the US and Canada because they are so conservative. But they are not used in the industry as the basis for transactions precisely because they exclude a huge chunk of fair value - often the majority part.
The conclusion we should draw from the Twitter link is that on the most conservative possible metric i3E is worth much more than the current share price. But the 32p figure is not a realistic value for the whole asset portfolio. It's a lower bound.
Let's just continue to be patient here. We will get to 30p then 40p then 50p. It's just a matter of time.