Member Info for freshair

James, Thanks for letting me know.

An OPEC source told Reuters on Tuesday the size of any OPEC+ curbs depended on volumes other producers such as the United States, Canada and Brazil were willing to cut.
Other OPEC+ sources have echoed this, saying it hinged on action by the United States, where costly shale oil production has surged with the help of OPEC+ action since 2016 to support prices. “Without the U.S., no deal,” said one OPEC+ source.
“The situation will require active involvement of all market participants,” the energy ministry of non-OPEC Kazakhstan said in a statement.
The United States has yet to commit to any cut, while Trump has said U.S. oil production had already fallen.
After the OPEC+ talks, Saudi Arabia will host a video conference on Friday for energy ministers from the Group of 20 (G20) major economies “to ensure energy market stability”, an internal document seen by Reuters showed.
A senior Russian source said efforts to get the United States involved in cuts will be on the agenda for Friday’s G20 talks, scheduled for 1200-1420 GMT. Russian President Vladimir Putin has said any output cuts should be made from levels in the first quarter, before Saudi Arabia and others hiked production. OPEC sources said Riyadh wanted cuts to be calculated from its current higher level. Trump wags his finger at Russia and Saudi yet the U.S. remains the major global producer, still at 13.0 million [barrels per day] as of last week. JP Morgan said Thursday’s talks could fail: “We are quite skeptical. The Saudis want to keep pressure on the oil prices in order to gain a larger market share and concessions from Washington”.

Looking at the map for Serenity; https://i3.energy/serenity/
Has it been updated possibly for the Data room or is it something I've ignored as its always been a short video? Thats if you can call it that, as only a few frames have been added?
Anyone getting problems with accessing LSE ? Showing as a fault with a Server.

This is why I believe the deal took place. It should be completed Xmas 2022 or even mid 2022. Majid already states; A portfolio of accretive and material opportunities has already been identified and is being evaluated to high-grade those which meet our acquisition criteria.
There were so many objections to this project that the government bought it in 2018
The Trans Mountain Expansion Project will help make sure Canada gets full value for its oil. Everyone will benefit. Workers will benefit during the $12.6* billion construction project. Oil producers will earn more revenue for their product. Government will collect more tax revenue from oil. These revenues contribute to services that benefit all Canadians.
Currently, nearly all the oil produced in Western Canada goes to one market, the United States Midwest. However, there’s a limit to how much oil this market needs. For much of the last decade, Canada has been selling into the United States at a discount to the world price for similar oil products.
The simple truth is that Canada’s oil will fetch a better price if we give ourselves the option of shipping more of it via Trans Mountain’s Pacific tidewater terminal in Burrard Inlet. Canada will earn more on every barrel of oil that’s piped west compared to those sold to our existing customers in the United States Midwest market, a differential that exists regardless of the price of oil. The Project will allow Canadian oil to be delivered to international markets and, as a result, Canada will earn approximately $3.7 billion more per year.
Independent estimates conclude oil producer revenues will increase by $73.5 billion over 20 years of operations and Canada will earn $46.7 billion in additional taxes and royalties to federal and provincial governments.
With oil sands production expanding in Alberta in the years ahead, new markets and new opportunities are emerging. As countries in Asia Pacific begin to develop the same quality of life we enjoy here in Canada, they need to secure sources of energy. Canada is a natural trading partner for these countries, and with an expanded Trans Mountain Pipeline system, we will be in a position to provide for their growing needs for years to come.
The time scale is on a par with first oil for Serenity.

Strangely enough, Repsol are next door to Toscana's Calgary head office.
Also strangely enough the Toscana CEO is Ryan Heath. I wouldn't dare to presume he's some relation to Graham, would I?

We also believe it is critical to add production to our asset portfolio to provide internal free cash flow to grow the company and provide a near-term return to our shareholders. Having considered a number of global oil and gas basins and specific opportunities, including in the UK sector of the North Sea in the context of our acquisition criteria, we have concluded that the WCSB provides a unique, time-limited opportunity to build a portfolio of production assets on superior metrics not achievable elsewhere. Many of these companies contain excellent, long-life, low-decline production assets, with solid growth potential that may be acquirable at attractive metrics.

DUBAI/MOSCOW (Reuters) - OPEC and Russia have postponed a meeting due on Monday to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a row between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified.??
The United States is not part of OPEC+ and the idea of Washington curbing production has long been seen as impossible, not least because of U.S. antitrust laws. Still, the oil price crash has spurred regulators in Texas, the heart of U.S. oil production, to consider regulating output for the first time in nearly 50 years.
US and Canada discuss putting tariffs on Saudi and Russian oil. Asked if he was considering tariffs on Saudi oil, Trump said late on Friday: “Tariffs are a way of evening the score ... Am I doing it now? No. Am I thinking about imposing it as of this moment? No. But if we’re not treated fairly it’s certainly a tool in the toolbox.”
Other oil producers that do not belong to OPEC+ have indicated a willingness to help. Canada’s Alberta province, ( Toscana ) home to the world’s third-largest oil reserves, is open to joining any potential global pact.

HSP, I topped up the other day and it did its normal thing and went down. Large holding and still have faith. Not sure mind you if Serenity is still on the agenda. Wonder if they are thinking about selling to seek their/our fortune in Canada. Cost of appraisals could go along way to build on the platform ( their words )in Canada. How much for Lib and Serenity? They've already said will be a different company in a few months. Big statement for a company with little funds. Probably others will disagree but they are free to comment.

Oil climbed on Friday, extending gains from the best day on record Thursday, after OPEC and its allies said they will meet Monday to discuss a production cut amid the coronavirus pandemic, according to a Reuters.

US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel after gaining 25% Thursday. International benchmark Brent crude jumped 17% to $34.91 per barrel at its Friday intraday highs, continuing the previous day's 21% gain. ...

Stocks pushed higher Thursday, buoyed by reports that Saudi Arabia and Russia had agreed to curb oil production in order to stabilize prices, even after data showed U.S. weekly jobless claims soared to a record.

Energyvoice:
Major oil currencies have fallen much more this month following the plunge in Brent crude prices to less than $30 a barrel, with Russia?s ruble down by 15%.
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.

Trump, speaking at the White House Tuesday, said he’s raised the issue with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman. “They’re going to get together and we’re all going to get together and we’re going to see what we can do,” he said.

A new chief executive has today taken on the top job at North Sea operator Repsol Sinopec Resources UK.

Jose Luis Munoz, a long-time employee of Spain’s Repsol, said his first priority would be to ensure the health and safety of the firm’s workers and contractors as it faces “challenging conditions” with the oil price drop.

Old news but important 27 March.
MOSCOW (Reuters) - A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s sovereign wealth fund said, adding that countries should also cooperate to cushion the economic fallout from coronavirus.

I'm not put off in any way. Oil will recover. The culprits are already regretting the price war they created. Like him or loath him, Trump seems to hold a lot of sway when he talks.

Our Graham talking, "Unfortunately for us when you release news into the market where Brent has dropped 8% today, so you're facing headwinds, but when markets come around which historically they always have; this will come very much good. Quite excited about it! "

Had a small top up first thing after; WASHINGTON (Reuters) - U.S. Energy Secretary Dan Brouillette spoke with his Russian counterpart Alexander Novak about the slump in global oil markets on Tuesday, and they agreed to hold future discussions involving other major world oil producers and consumers, the U.S. Energy Department said in a release.

The call occurred a day after President Donald Trump and Russian President Vladimir Putin agreed in a phone conversation to have their top energy officials discuss the drop in global oil markets.

Gary whatever the f@ck his name is, has always been negative on i3. He's obviously been burnt. I thought Majid was a bit apprehensive when discussing Serenity, but the O/P collapse has put too many hurdles in the way of a good f/o deal. Toscana was an excellent deal and we should build on it. I now feel as tho' I will get my investment back; even hanging around for a dividend?

They even discuss recycling cashflow between dividends and expansion. Graham looked as relaxed as I've ever seen him. During his time at Iona, Graham worked with the senior management team to build the company from infancy to 40MMboe of 2P reserves and production above 6,000 boe/day, listing the company on the Toronto Venture Exchange, and structuring equity, debt, and derivative financings in excess of US$670million.

Serenity could be delayed by Cavid 19 but Toscana deal is a platform to build the Canadian business. Will be a different business in 3 to 9 month.

GGG. "We became the lender" approx 225 seconds into the video, Graham doing the talking. We paid $ 3mln for $24.8 mln Senior facility.
https://www.proactiveinvestors.co.uk/companies/news/916150/i3-energy-team-discuss-acquisition-of-toscana-energy-and-new-growth-business-916150.html