George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
However, it looks like I3e did request the authority to issue over 500m new shares and it was approved. This is presumably for a potential acquisition if it measures up to their criteria.
I think you will find companies do this every year ie, permission to act.
Tain: The drilling of the Tain development wells is expected to start in Q1 2022, with each well estimated to take up to 100 days including mobilization and demobilization.
First oil from the Tain field development is targeted for August 2022.
The drilling of the Tain development wells is expected to start in Q1 2022, with each well estimated to take up to 100 days including mobilization and demobilization.
First oil from the Tain field development is targeted for August 2022.
Why should we be harder to take out? It's the II's who are the majority shareholders, not us. The Pi's don't make a ripple in a pond. 15 wells tomorrow? Are we drilling Simonette? Ok let's do it! Did Graham say when or if, we develop Simonette? Why did they share the cost for two wells.? Why are they not paying off the LN interest? The best wells are already known by the Canadian Geoscientists NOT Majid. Clearwater is only available 6 months of the year; It also has Bitumen/ heavy/ light oil so everything is not as clearcut as its made out. BC needs time to recover from weather conditions! So how many wells are we going to drill in a year? There are deals taking place involving K's bb/l's day. So how many bb/l's will we be exporting in a years time to the US or Asia. An average of 170 bbl per well of new production over a year, takes us where? An extra 1500? If we are lucky! Bybrook/Cairn Capital, WILL fund i3 to develop the wells, thats where I stand. The fact i3 will pay Bybrook in kind for the LN's 2023, most likely with options, leads me to believe further funding will be available and PIK with ATM options; these can happily sit unhindered alongside their shareholding. Hedge Funds work on a certain percentage, normally, set against a baseline of whats achievable from an index. A dividend will not reach that percentage, it will be the sp that gives them their expected return. Thats why I see Bybrook investing to achieve that.
London-based Cairn Capital, bought by Milan-based Mediobanca in 2015, said on Tuesday it would acquire Bybrook for an undisclosed amount, adding $2.5bn in assets under management, set to complete by the end of June, 2021
@ fastfood,
Market wants then to get to 12000 boepd and then 15000. They need to get on with it. We should be at 12000 now.
I agree.
I wasn't expecting another proactive interview so quickly. They are now promoting the company but the pointer hasn't moved. We need to have hydrocarbons coming out the ground instead of telling us whats out there. I don't think we have enough working capital which differs from others on here. To share the cost for two drills was a no, no, for me. We cannot wait for FCF to build up before we drill. We need term debt to fund drilling. As long as we have incremental FCF as a consequence of any debt i3 will find legs.
Their may well be institutional buying before the record date. Normally the sp is expected to drop post the Ex date, because you are trading without benefit of the dividend. In this case things may be different because another dividend is expected late summer. Easy money for II's.
Don't see any low ball offer anytime. It will be the II's who dictate the future of i3 and they certainly won't accept such an offer.
Zak was pretty much spot on, i3 bought the assets cheaply; accordingly, we have been valued the same. We have excellent Canadian assets, including the Canadian staff who will have made the recommendations for the recent additions. I have complete faith their expertise will take i3 forward. I am one of those who advocate we should take further debt on our books and look for targets that are producing in their K's. There is one company who are not waiting around to export thro' the TransMountain extension. They are doing so via the USGC and in their words receiving $9.50 per bbl more than they get in Edmonton.
@ justfencing; I agree. The Hedge funds insisted on a dividend. I'm here for capital growth. We are paying Bybrook 11% interest as PIK on their notes. We aren't going to tolerate that kind of rate without using them in the future for a big deal, As I've said before, this is what they do, fund undervalued assets. Of course at the end of the day the institutions will hold enough power to dictate the future of the company. They will sell it!. By then we should be valued at par with our peers.
Does anyone use LSE for their share trading? Seems very cheap with no custody charge for Dealing or ISA. Are there any problems dealing. Pro's and Con's etc. My Eqi account has been sold to ii which I don't want to use. Advice appreciated. Thanks
This is from a previous message I posted which seems an eternity, I do not know if the schedule has changed.
The proposed Tain drill center lies in Scottish waters, approximately 72 km from the nearest landfall at Fraserburgh on the east coast of Scotland, and approximately 170 km west-south-west of the UK/Norway transboundary line. The Tain wells will be drilled using a jack-up drilling unit.
The drilling of the Tain development wells is expected to start in Q1 2022, with each well estimated to take up to 100 days including mobilization and demobilization.
The installation of the subsea infrastructure, including pipeline, umbilical, manifold, subsea isolation valve (SSIV), production and umbilical riser replacement, etc. is targeted to take place from June to July 2022. The necessary modifications to the Bleo Holm topsides are targeted to be executed from June to December 2021.
This gives us time for Serenity to be appraised.
First oil from the Tain field development is targeted for August 2022.
Are we talking of Repsol for the appraisal, I have my doubts; even then, it may come at too high a price? I still think Borgland Dolphin will have a say in the matter. Of course we would still seek to use the Bleo Holm facility in the event we developed Serenity ourselves.
I'm sure Bybrook are taking note because a lot of hedge funds insist on a boardroom appointment. I've always said it was Bybrook who paid for Toscana, thats the way I look at it. Institutions with a large holding, hold a lot of power in a company. I have no doubt Bybrook insisted on a dividend, because Hedge Funds do not hold 29% stock and just sit, expecting nothing. If the company does not perform they will have something to say and it may well be to Majid.
There are two Canadian Geophysicist's that I know of. These will know whether the wells are Bitumen, oil or gas and at what level. Clearwater has a lot of Bitumen. It will have been these experts who prompted the drill of Noel and the Clearwater Deal. The Canadian team were put together because they had all worked together within WCSB. Majid offers nothing except they do things different in the UK.
Majid "Where will we be by the end of the year, I'm hoping to be where we are now or possibly better"
"Thats no good to man nor beast" We need to grow.
Just adding my opinion because of what I see .
It's the people in Canada who should be handed the funds . Its these people who know what they are doing , not Majid
I've noticed the frackers were able to refinance around the 5% mark. When we do pay a dividend, we will have a far better credit rating and should refinance at the best rates possible before inflation takes hold. We should take on board, term debt and use it to expand our oil drills. Clearwater is 6 months of the year; we need to crack on with building our oil portfolio. Gear drilled 10 wells in 1 quarter. Ok, the metrics were good with the recent Clearwater deal, but its 50% of what comes out the ground. When I was looking thro' the Gain portfolio there were wells already earmarked for drilling .? The management are saying nothing about them? There are other lucrative oil fields out there, Cardium, Dunvegan; deals being done every week . We have Noel Gas coming on line, with two oil wells before November (50%) probably earlier: Three before March. We also have to take into account natural depletion. I don't see a lot of growth. I think Majid said 10 wells within 6/12months, why not 20 ? If wells are costing a mln. we need debt to finance growth. We always have to account for natural depletion and we don't want to be caught out where we end up with no/little growth and take a sp hit.
TransMountain are still on track for completion of the export terminal end 2022, which will give us access to Asia for our oil. We need to take advantage of the deals out there.
Year end based on fcf guidance they will be net debt free..
i3 are not paying any interest on the Bybrook LN's. This to protect the Dividend. The debt as we know matures 2023. It will be payed as Payment in Kind, which can only be ATM options that can be held alongside their 29% stock holding. This is a good thing as it appears Bybrook, who "buy under valued assets" as a Hedge Fund, are here longer term and for me are will back the expansion of i3.