Member Info for E_AL

BP Oil International Ltd like any other fund managers has their team of expert to evaluate each and every business opportunity before they provide funds. When it comes to Oil &Gas business opportunities, then it’s their specialty and if they need an advice then there is an army of experts within the corporation to help. I don’t think BP will fund a small AIM company in the North Sea which is considered to be BP’s backyard unless they believe in the fiasiblity of the project.

Anyway, check this article if you got the time, I found it quite interesting :

https://www.energyvoice.com/oilandgas/194314/bp-to-keep-looking-for-opportunities-in-north-sea-backyard/

Not sure if the new shareholders know that ‘BP Oil International Ltd’ is one of the parties involved in funding the development drilling programme at the Liberator oil field in the UK North Sea :

“UK-focused oil & gas firm i3 Energy PLC as successfully secured GBP22 million of financing first announced in February, meaning it is now fully funded for future work.

Shares were 11% higher in London at a price of 43.39 pence a share.
i3 raised the fresh credit to, amongst other things, partially fund its planned 2019 appraisal and development drilling programme at the Liberator oil field in the UK North Sea.

The facility has a four-year term with an interest rate of 8% a year.

The loan has been provided by funds managed by Bybrook Capital LLP, BP Oil International Ltd, funds managed by Lombard Odier Asset Managers, and James Caird Asset Management.
i3 also announced at the end of May a GBP2 million share placing with funds managed by Lombard Odier at 37 pence a share, and this has also now completed.

"We are very pleased to announce the closing of this GBP24 million funding package. The company is now funded for its upcoming 94-day, three-well drilling campaign this summer on its 100% owned Liberator field and Serenity prospect, which is targeting a combined stock tank oil-initially-in-place of over 500 million barrels.
"The company is now fully focused on delivering a successful 2019 drilling programme and execution of the Liberator development to deliver first oil in 2020."

1-destitute

Price: 33.50
Strong Buy

RE: Two More Wells
10 Sep 2019 10:53
Easy money at these levels, shockingly oversold. Surprised the herd aren’t piling in.

2- destitute
Price: 30.50
Strong Buy
RE: I3E - Interview
10 Sep 2019 14:41

I’ve added another 10000 hardly a kings ransom but its a show of confidence.

3-destitute
Posted in: I3E

Price: 30.75
Strong Buy
RE: Looking
11 Sep 2019 13:50

On the up again, sort of wish i’d added this morning now but us peasants don’t have a crystal ball. At some point soon this should race past 40p

5-destitute

Price: 30.75

Strong Buy

RE: Looking11
Sep 2019 13:51

Must say very well done to those that added at 29p

********

So in your opinion it was a 'Strong Buy' @33.50p & shockingly oversold on the 10th of Sept. then on the 11th of Sept you thought 'At some point soon this should race past 40p' ..........but after you sold for loss i3e is now not oversold anymore & will go to 10p or lower?

Grow up ha !

Guys be a bit careful here, big volumes on the ASK and they keep topping it up.

June 2019 after they reviewed the current drilling program , I3e signed the rig contract & secured the funds needed to drill Liberator and Serenity.

WH Ireland on I3E "...We believe the company has never been so strong. It has an exceptionally exciting catalyst rich outlook relating to potentially large scale resources. It has the backing of multiple providers of capital and operationally progress is also strong. “

Ovvy,

I believe Peel is the broker selling LO's shares, they attacked the BID first thing in the morning and dropped the sp to all times low then they switched sides to be on the ASK and kept topping up the ASK at such low sp level to be the first on the ASK to sell as much shares as possible.

LO has a finite number of shares (held around 10M shares last Monday) and I think they are almost done here.......

Sells seems to be drying ......

gatto, when I said "I really dont think you know what you are talking about here .................." I was referring to your post "@gatto: Plus a possible equity raise coming imo".

As to your question about where all the shares are coming from, well the only ii currently selling is LO and up till 16th of Sept they held 10.27M shares and I believe they they sold big portion of them last Friday . Personally I think they are selling because the i3 Energy's plan changed, the company moved from Liberator to exploration drilling at Serenity. Its not a good or bad thing but some iis dont involve in exploration drilling which I think is the case here.

"@gatto: Plus a possible equity raise coming imo"

I really dont think you know what you are talking about here ..................

Peel is on the BID side now ! I hope its not some sort of MMs games.

Hied, they got up to 3 days (or 3 working days) to declare any change(s) to their holdings. In their recent TR1 LO confirmed that they are still holding 10.99% of the i2e's shares which is equivalent to 10.27M shares, last Friday 3.9M shares were sold & 6.2M shares were bought, I think most of those shares came from LO so this is why I said I think they will be out soon.

Saying that, we don't know if they want to cash out from i3e or to keep a small position here.

I agree with scooby-doo, in my opinion the only reason the sp dropped to this level ridiculous level is LO cashing out and apparently willing to sell their shares at any price.

Obviously LO has a finite number of shares so I would like to believe that they are almost done here & hopefully we will see sp recovery soon.

Good luck with that mate !

I dont think so Zahir, big buys just gone through on the dip :
20-Sep-19 11:39:39 4.335 502,512 Buy* 4.306 4.348 21.78k
20-Sep-19 11:37:35 4.3207 460,000 Buy* 4.302 4.326 19.88k
20-Sep-19 11:36:54 4.3188 500,000 Buy* 4.29 4.326 21.59k
20-Sep-19 11:35:31 4.3329 300,000 Buy* 4.298 4.34 13.00k
20-Sep-19 11:28:41 4.29 349,794 Buy* 4.25 4.288 15.01k
20-Sep-19 11:28:38 4.29006 312,117 Buy* 4.25 4.28 13.39k

Permitting for the SA-01 well is underway and mobilisation operations will commence as soon as the consent to locate permit is obtained from the regulatory authorities. The rig has been down-manned to minimise standby costs. Once drilling begins, the well is expected to take approximately four weeks.

Well said Slowlyslowly. From the CEO's recent interview he made it clear that they already secured investments deals, they only need to sign the contracts and this wont happen before adme get the cash needed - After GM:

"We already have a mature pipeline. I'm not starting my job looking for deals, I have the deals, I just need to reconstruct them then to complete them."

istock, Eqw already said he hold a short position here

"@Ewqwe1234:Donotpanic stop ramping, its cruel and unfair on people who have lost so much, base your posts on facts"

A bit rich coming from a persistent deramper on SXX board ha

Its been two days so far since MMs tightly controlled the sp movement between 4.3-4.4p ... The only explanation I could think of is MMs exchanging shares at this level. I can see several big buying order on the BID (L2) below 4.3p and tiny volumes below 4.4p on the ASK so I cant see sp drops anywhere below 4.25p (with no news) so I believe once MMs are done, SXX should see some sp recovery