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Thanks for posting the Nuttall interview TSSZ. Utterly compelling especially after what has happened this week and pretty much required viewing for i3 investors. Just reinforced to me the nerve you need have and keep reminding yourself of the fundamentals. Not easy sometimes…… Thanks again
A question posed by the ever excellent Merryn Somerset Webb in yesterdays FT. Notwithstanding contortions in the current globalised construct she points out the simple truth that energy transition is incredibly expensive at a time when support for fossil fuel investment has been unfashionable and unsupported. Last year the biggest 11 oil companies in the world invested $100bn (Argonauts Barry Norris) which sounds an impressive figure. However less than a decade ago this figure was $250bn a year.
In addition last year western oil companies found new oil and gas reserves amounting to just 4% of global demand, unheard of levels previously. the failure to invest will inevitable lead to supply constraints which will not disappear in a hurry.
So, where to invest? Gold, commodities and yes, fossil fuels (but recognising that there will be volatility in the market)
Like many I struggle not to pulled into looking intently at the share price on a daily basis but am reminded when I read analysis from commentators like MSW, the fundamentals are compelling and micro management of the SP is not in the interests of ones health........ GLA
Tony,
A couple of questions from your post.
Just how unusual is it for a company like i3 to have a portfolio of fast developing Canadian assets together with a significant North Sea play? And with the political environment as it is in safe and supportive jurisdictions.
Also if the company is 30/40% undervalued against its peers is someone out there seeing this as a takeover target?
Appreciate it…….
Also agree a very timely cauterisation of 2021 results which forms the platform of a potentially blockbusting year in 2022. Like the Interim Chairpersons and CEO statement a lot, ‘When most companies hunkered down (in 2020) i3 bought assets’. Well what a decision that turned out to be……
‘It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower’ (William O’Neil - Market Wizard) One for those on the sidelines…….
(Heads up to Pretax2 on ADVFN for this - excellent)
Tony,
This company was introduced to me through a friend nearly three years ago who has had considerable experience in the industry. its been an interesting journey.....
I myself am a reasonably intelligent investor looking towards a future life in old age hopefully not being in penury. What has been particularly interesting over time are commentators like yourselves who have kept belief in i3 through what has been some very dark days and through your informed posts have kept a sense of balance and perspective. in March 2020 with COVID and the shares being suspended through the dual listing process I honestly had written this one off. But I kept going.......
To new investors I would like to point out that over time this board had been populated with a number of very industry relevant posters who have cogently expressed their faith in what i3 was doing. And now those same posters are still heavily invested and looking towards a significant return over the next few years.
Like BBB I was uncomfortable a few weeks ago with seemingly profiting from the horror of Ukraine. But I took a step back and examined why I felt like I did. It was an obvious human reaction but we're all invested in Canadian and North Sea assets in a safe jurisdiction which in the foreseeable future the political will should be to encourage these assets to fruition as a hedge against current and future upheaval. What a difference in tone and atmosphere from November 2021 and COP26.
I also over time have built up a seven figure holding and I am not going anywhere. Never has it felt like this.....
I hope the new work assignment works out for you and look forward to your timely updates in the future (& I'm sure GGG appreciated the extra effort both you and I made on the grammar front)
GLA
Must admit I've been a little surprised at GGG's silence over the last few days and the very 'Reserves' specific post that Tony posted on Monday. As a LTH although there has been the odd spat over the last couple of years both have consistently posted informed and balanced analysis which myself and I'm sure many others have very much valued. If they have both moved on I wish them well but if not....... Oh & I liked CommandoKai's recent comment of having invested at 25p which means an inevitable drop now back down to 20p. I know that feeling but then again..... Finally as a LTH I've never experienced so much positivity and confidence around i3 as there is right here right now. The move to acquire Canadian assets in early 2020 when oil was $30 a barrel was beyond brave and yet here we are. It's an unbelievable turnaround........
Thanks spawny100 for posting this. Majid and Graham are just so confident and super relaxed. Anyone already invested or considering investing in i3 should just take 10 mins out and watch this interview. It's massive........
Thanks DPOW, very, very interesting analysis. For others who may have not tuned in yet the relevant i3 segment roughly starts at 25 mins & completes around 50 mins into the presentation. You'll get the gist.......
Tony and GGG,
The world is on the verge of being on fire and we're down to this......
Like others I fully recognise the contribution both you guys have made and here we stand with a company whose prospects are excellent in a very uncertain and dangerous world.
We are lucky to live where we are with the freedoms that we have. Both of you are better than this.....
GLA
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Just think back to where we once was…. In the dark days of March 2020 oil was at $30 a barrel and i3 shares were suspended due to the dual listing. Honestly, I’d practically written it off at that stage. Yet here we are….
I’m long enough In the tooth to remember Big Bite Now and others…. As for Tony & GGG, I know you two get on each others nerves sometimes but your consistently informed contributions really do make a difference to the less technically knowledgable investor (& I am certainly in that category)
Management have done an unbelievable job in turning the company around over the last two years and the mood is so positive right now.
Await tomorrow with excitement and a little apprehension (old habits die hard…..)
GLA
I read Merryn Somerset Webb in the FT every Saturday. She is consistently an intelligent and thoughtful personal finance journalist who has a lot of respect in the industry. Unlike Oilman Jim et al who have a constituency already tuned in to the sector, Merryn provides insight into a broad range of economic factors affecting the personal investment environment. Make no mistake this was an unequivocal recommendation from a heavyweight financial journalist and the journey from fun tech stocks to value driven companies may well be on its way. I am a LTH and many thanks to GGG, Tony and others in their always thought provoking and passionate contributions to the cause. Good luck everyone…..