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Sadly, Bullies (Name Callers) very rarely give a straight answer Tony.

No Tonynorstrom. Majid said they are “Always on the Lookout” for “Revenue Generating” Opportunities. Hey ... He even mentioned the potential to pay Dividends lol.....
Nice one Majid.

Come again Royoboy. Do tell ??? What’s the matter son ?

Not exactly scowering the Planet for Value Opportunities were they Barnyards ?!??!??? Lol.

Freshair. You are Correct. Ryan Heath CEO Toscana since SEP 2019 is Graham Heath’s Brother.

Hi All. Does this Toscana deal effect BOD Exercise of Shares due to First Oil ??

Apologies Scottlee. I mis read. I thought that PFG would maybe seek a return to S/E model given the 2 1/2 year Nightmare of HC.

That’s interesting Scottlee. Re the S/E Agents. I thought you said previous that all Home Credit Companies would be “Forced” to Employ them ?. Leaving them Short. Now you go with the Flow of PFG looking at a S/E model ? So it’s ok now then to be S/E ?
Or at least plausible for the near future.
PFG were the Pioneers re S/E. I think they will be ok with that one.

The SP will double or triple ? Time to re mortgage the house then..
So far it’s certainly doubled or tripled down. What’s the word for 4 x down ? Arhh yes Quadrupled down. 5 x down ? I dunno that one.
For Long term holders it’s been awful. Deliver Value to SH ? Buy more then I suppose ...

Tonynorstrom1. I believe you are right regard your 50m proven barrels Calculation and 8p 440m Shares etc. i3 should not play out that Outcome but nevertheless it is a good Marker to use.

What gets me is that Graham and Neill are in here for 13m Shares (That’s a Positive). They have already reduced their Ownership to 10% for a multi million pound Cash Shell as it was originally. We are here now at 7-8p range with Serenity Field 60m barrels recoverable ? If proven (They should).
Just how much of a Share of the Business are they going to have to give away in order to realise the desired Value ?
Surely we are nearer the End than the Beginning ? From 2017 to present.
Also ; Do you think the EU Tax Receipt on Revenue has anything to do with Time Lapse of Events ? Meaning come DEC 2020 / Things could move fast once we are out ?
I also believe i3 have no intension to have to produce the Oil. If the field is Proven / Then they will Sell up at right price.

Just IMO.

Can anyone actually believe how i3 was traded at 60/80p and £1 a Share ? Oh my goodness.

Apart from the 13m Shares that Neill and Graham hold of course.. Freshair.
But they have it all to do now... SP points to Money burned.

I hope for existing SH you are correct Harel. Bey they promised 7000 bopd to Start March 2018. And here we are having burned £60m with nothing proven (Or the funds would be in the Bank) and a SP of 8p.
Explain that one / or Defend it...

Didn’t Graham and Neill put up £6.5m each at the beginning at a First Listing ?

I go with what you say GGG. Great Post.
Personally I think the BOD are very clever. Their behaviour though follows a familiar pattern and I am a sceptic by nature.
Yes Equity Raise of significance is out of the Question to contribute to Capex (Yet I believe they will allow 10% here and there as previous / when opportunity arises to cover unforeseen Operating expenses).
Here we are at a Farm In with an Oil Discovery and we are at a Position of Weakness (Due to SP). Familiar pattern if you look back when they need cash / yet they have raised lots of cash / only to burn back to their friends ?
It points to Syndicate behaviour to me / Raising cash like heroes to keep the Operation going (Usually from a Point of Weakness) / De Risking the Block / Burning the Cash by Overpaying those who do the Work / Never working towards producing Oil.
The only way they can keep up Rinsing the Shareholders is to play the Long Game and actually have (Or make believe they have) Oil in the ground.

If what I am saying plays out (They don’t want to produce Oil) / Then Graham and Neill will get 3/4 of their money back / Having played the Long Game they will have covered their paper losses with Salary and Lifestyle and future opportunity for those who they have been a front for. The real money men.

So SH will only get their Best Value back at the end ? I predict 18 month away. That assumes Serenity is viable. Hence we are at 8p. All IMO.

GGG. I have come to the conclusion that they have no intension of producing Oil. It’s too Big for them. IMO They are there as a front for other Oil Companies to de risk the Block at the expense of the PI.
All the Communications (lack of detail and commitment on dates to achieve goals) and the Market Fluctuations point towards this. All IMO.

I don’t understand attacking each other. It’s plain Bullying.

My main beef with the BOD is that they have created a SP where it has to double just to make 16p. You cannot see how this Value can be easily achieved otherwise we would not be at 8p !!! Investors would be buying !!!

Can anyone explain why the BOD choose to go right to the edge of Channel ? What was the Value in this ?

Surely in a High Risk Industry / You build a position of strength and add to it ? It seems to me the BOD are being directed by some other Entity. They certainly are not working to deliver Shareholder Value ... Unless you are part of the syndicate.

Yes. I thought Oiler was clearly being sarcastic. Being 2km away from Infrastructure and all. We all have differing Opinion.
Mine is firmly fixed on the SP. It’s priced as such that there is no confidence the BOD will deliver anything they say. Corruption.

That’s if you believe in the model Harel. 2 years on ... Not a Dickie..

“We are ready, with no imminent barriers to production to be able to Start producing 7000 bopd from March 2018. For a £30m Capex it can unlock North of $150m of Value”.

Here we are in 2020. Not one barrel of Oil produced ...