Member Info for Deeko19

At the rate I’m accumulating them yes

We’re Statfjord c no?

Stop and think about this;

Longboat will produce 1000 barrels every day by June. Not only that but, 80+% of the capex we have paid out for the gas lift project will be paid back to us next year by the Norwegian government.

Great summary ZENGAS. Also, oil at $91.

Said this time and time again but this is another Serica. I was in at Serica when Erskine was producing 2000 boepd yet the market just didn’t recognise the value. Easiest 200/300% I ever made, then the big acquisition came and suddenly everyone wanted in.

IMO you capitalise on times like this when the share price is on sale.

Fair enough. Been there too!

In short, would I buy I3E at 100p? Absolutely not, is there major value at 17, 20,25,30,35,40? absolutely

Ash, why not sell up and move on? I’ve done it serval times before and made multiples back. Tullow being a good example. Bought at 7p sold at 45/50, bought back in at 37 sold at 27 and moved on to I3E at 10p to sell at 28p.

Why wait around if you don’t have any faith they can deliver? Let’s be honest too, they changed strat when Japex came in and have only had 100 million financing for less than 9months.

You can’t say it’s been 5 years for a production deal because they were buying into exploration wells initially and Did so successfully. Unfortunately nothing major came in but they’ve refocused to the Kveikja area now which I think is a wise decision.

Yes they are.

600 bopd

800 bopd from may

1050 bopd from June

You can find the latest investor presentation on YouTube

They’ve explicitly said that the are actively participating in a couple of deals which is a step in the right direction.

They also mentioned it would be good to buy more of Statfjord ost if the opportunity comes up.

It wasn’t thrilling I’ll give you that but I did like how James mentioned that they had been engaged with the Malaysian government regarding shallow water discoveries! A nice new snippet

Indeed. Currently at a yearly revenue of $19.7 million with the current prices and $27.9 million at 850 boepd.

I’ll continue to top up throughout the year. Fact is that when all wells are online and we’re spudding the well in q3 we’ll be sitting at mid 30p in my opinion.

Of course this is just my opinion

From the initial production pre new wells vs production guidance now. The average rate of each well is 2500 boe, suggests with the upcoming 2 wells that longboat will be at 850 boepd with all wells online. Call it 900 with optimisation of liquid rates and gas lift rates

Definitely not rose tinted. I agree 17 million isn’t great, infact it’s really poor but unfortunately that’s the nature of the beast. Sometimes things go well and sometimes they don’t. Similalry, that 17 million is not for 600 boe because you’re neglecting the fact that two additional wells still need to be commissioned.

Either way, the payback will be longer but I’d rather the production which runs until mid 2030’s than nothing. The production is a spring board.

Ash, stop being miserable. The company is producing. 600 boepd and has a Mcap of what? 9 million?

Two more wells to go, nobody is drilling a well for less than 2000-3000 boepd and we have two more to go. so minimum another 200-300 additional boepd.

I’m happy enough right now but clearly something else is coming.

Close to 800-900 boepd is cash that’s coming our way.

Got my top up. My Average has come down nicely

Is a really interesting take.

Not surprised shell and other companies are looking to move from the London market

Folks offshore on the well start ups are buying shares haha.

I joke! But it’s a lot more common than you’d think.

Be good if the upside case came in too. The charts they have shared to date show it as well above 1 mboed

Really curious to know what the flow rates are.

Last update 350 boepd - 7.6 million revenue at $60 (66% Mcap)

Expected flow rate with all wells online 750 boepd - 15.2 million in revenue or 132% Mcap

Absolutely nothing priced in right now

It’s Pretty apparent that something is being worked. Can take months to get a proposed deal over the line but I feel like we’re moving towards it!

Staggeringly inept is abit harsh.

It’s not been phenomenal here but they have pulled in £100 million finance. Pulled a project into a development concept (ringvei vest), focussed the portfolio in Norway into a few hot blocks with synergies and a clear development option, got a free carry this year. Got us a potential monster in Malaysia with huge equity to farm down.

Yeah I’m not exited by the 700 to 1000 boed acquisition but it brings in some cash and Japex were obviously similarly happy to go along.

Personally I think something is being worked (the podcast 3 months ago stated they were already reviewing several assets) it’s the frustration of waiting (which typically takes months to agree) that’s the difficult part.

As shareholders we’re never happy, the could do a 10,000 boepd deal and after 6 months we’d be asking for the next one! Nature of the beast

P.s. I’m no different! I want it right now