George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Someone posted a link to MORAM a while back. Thank You. They have added to their Kistos holdings. It obviously mentions Kistos but is also an interesting read.
hTtps://moram.eu/moram-4q21-comments/
I have no problem with the abbot, I have been on ADVFN since 2002. There are some excellent posters; Tournesol, Spangle, Cash card and some who come and go. Some resident jokers who add to the atmosphere when the market is tanking. what else do you want?
It is not a private email. As a CEO he is not allowed to communicate privately with a shareholder. If it offends go and complain to Graham. I'm sure he doesn't feel guilty in any way. I've posted because Graham is in the same boat as us, as can be verified by his reply. I've posted verbatim because there is nothing to hide! Back to Serenity, I was going to go into detail about a partner that never materialised; in fact Majid brought it up, not all that long ago. It doesn't differ all that much from the partner(s) this time around. Deja vu? I believe the only partner we will have is Borgland Dolphin; and Majid will borrow the cash to prove up Serenity, seeking to regain some credibility on the drill. Why should a partner cough up $6mln on an appraisal.? A good deal would be to sell Serenity and take the safe route to Canada.
I am not here to gain credit in any of my posts. As I've said I give honest feedback. Its up to people if they want to read it ( The abbot ) oil/gas pipelines were affected Alberta and BC, not our wells directly, due to floods. I won't be having mince pies here at Xmas, I will be back in Canada for the hols with the inlaws . The abbot should complain to Graham if he has an issue. Graham will laugh! Serenity S1 appraisal well to be drilled in summer 2019 at an estimated cost of c.US$12MM . Old news, hope it meets abbots standards. .
I asked Graham had anything such as the floods in BC (North Montney) affected the sp, or was it the impending oil release from the US . If I want to quote verbatim that is up to me. If you think it upsets Graham why don't you go and ask him. I have never been given market sensitive information by Graham. We just get on well. You can see the length of the first email; he spent some time in his response. I don't give financial advice just honest feedback . He also responded to questions on Serenity almost immediately. He never gives anything but his honesty, thats all I ask. He wasn't Negative which by the looks of it helped the SP.
Though I’m done speculating on what will or will not move our share price, as good news seems to consistently escape investor logic, I would hope we’ll see a pop at such time as a farmout of Serenity
is announced.
As with many companies, our investor universe has mixed drivers – some would prefer i3 to fund the appraisal on a “go it alone” basis to get the full benefit of a successful result, while others
believe we should be abandoning the North Sea altogether – so we are left to contend with competing sentiment under differing outcomes. Hopefully logic wins on the day…
Regards,
Graham
Very frustrated by the current share price also, I assure you.
i3’s Q3 update was very positive. All of i3’s major shareholders (with the top 4 owning approximately 55% of the company) are not trading the stock (no TR-1’s), and the feedback we’re receiving from
brokers is that the turnover is “retail churn”.
Though my crystal ball is as broken as everyone else’s, I believe the share price pressure is resulting from increasing concerns over the potential for fresh COVID lockdowns in Europe, combined with
the news that large energy consuming countries will be releasing strategic reserves into their economies to push down frothy energy prices. The latter will, in time, simply result in higher commodity prices. See below:
(=) OIL MARKET:
The announcement of a coordinated withdrawal could be announced as early as today – with the US considering a reported [Bloomberg] ~35Mb withdrawal (timeframe unclear),
alongside others.
The US is likely to represent the largest share of the withdrawal, given all of the other participating countries do actually need strategic stockpiles given they are all
significant importers…
White House Press Secretary Jen Psaki:
“We have been having conversations with a range of countries about the importance of making sure that the supply out there meets the demand and helps prevent an imperiling of the global economic recovery… I don’t have anything to preview for you today.”
CHINA have already indicated that they will participate.
JAPAN’s prime minister Kishida indicated he would take part, although rules govern a SPR release can only be for emergencies (eg supply constraints / natural disasters) and
surprisingly the text doesn’t have reducing US gasoline prices as an emergency.
INDIA also indicated interest in particpating
Strategic stockpile levels by country
Strategic crude stocks Mb
Days of demand
USA
609
30
CHINA
574
37
INDIA
26
5
JAPAN
290
83
KOREA
97
37
1596
However, OPEC+ may decide to avoid increasing output or even curtail production to avoid putting the market into an oversupply
situation when they next meet on 2 December.
As a reminder of what is happening:
The US Biden administration wants cheaper oil prices, blaming OPEC+ for not adding supply quickly enough.
US energy policy seems intent to increase energy dependence on OPEC+, in the process reducing oversight and control on global energy markets and impacting the US trade balance…
Whereas they could increase domestic production, while simultaneously significantly increasing emissions / environmental standards, which would benefit the planet vs the status
quo of just offshoring (and increasing) pollution to non-OECD countries
OPEC+ have repeatedly indicated that they want importing countries to unwind inventories built up during the lows of 2020
OPEC+ have repeatedly signaled tha
Very frustrated by the current share price also, I assure you.
i3’s Q3 update was very positive. All of i3’s major shareholders (with the top 4 owning approximately 55% of the company) are not trading the stock (no TR-1’s), and the feedback we’re receiving from
brokers is that the turnover is “retail churn”.
Though my crystal ball is as broken as everyone else’s, I believe the share price pressure is resulting from increasing concerns over the potential for fresh COVID lockdowns in Europe, combined with
the news that large energy consuming countries will be releasing strategic reserves into their economies to push down frothy energy prices. The latter will, in time, simply result in higher commodity prices. See below:
If anyone wants the email, I can forward it to them.
The rest below ,oil being released by specific countries.
I sent back any news on Serenity?
hTtps://www.reuters.com/markets/us/oil-futures-hit-by-heavy-selling-kemp-2021-11-22/
I have to admit the high costs from the last figures still sticking on my mind. Biden on the verge of releasing oil to the market may have impacted the sp? Aeco gas doubled since August; tho', we are partially hedged. Have asked Graham to comment on the SP and whether BC weather has effected any drills?
Hello Vike , basically at the present time, they can buy production cheaper than they can drill.
Simonette is part of Montney, often put side by side with the giant US Marcellus field. They are more expensive to drill but described as company maker by i3. I asked Graham instead of making statements, to present a Capital Budget for Simonette to the shareholders and the market. This should provide support as we go forward.
There is recent news of one company buying two Montney companies within one year, so Montney is in demand.
Sorry if it wasn't you who queried Simonette?
We do not know if there's 100 mmboe thats recoverable? Everything is relying on their being oil to the West of Serenity. Presently Stoiip is based on pressure testing unless it's changed from the last I looked. You've been here G3 as long as I've been, so we don't need to know how good these lot are on the drill. We only survive because they thankfully bought into Canadian production. I'm happy with a single drill to the West, further drills contingent on the outcome.
" if connected to the Tain field as i3 anticipates, represents a mapped oil column of approximately 622ft TVD in the Captain sand alone. The net oil interval in the Captain sand was c.10ft of high porosity (30%) sand and thicker than in the up-dip Tain discovery consistent with the Company's expectation that the Captain sands thicken to the west in Serenity (as demonstrated by the c.150 ft of sand seen in the offset 13/23a-7A well situated to the west of Serenity). Reservoir quality is expected to be equivalent to that seen in the Tain wells, one of which (13/23b-5Z) tested at an estimated 2750 bopd from a 5ft interval in the Captain sand. Oil samples to be recovered from the downhole sampling tool are expected to be of similar quality to the 32° API oil found in the Tain field. The preliminary results, subject to further analysis, are closely in line with the Company's expectations and confirm the strong commercial potential of the Serenity area, of which i3 owns 100%.
Additional pressure measurements and samples are in the process of being taken and the data recovered will be analysed over the coming weeks to develop further appraisal and development options for the Serenity discovery; following which the Borgland Dolphin will mobilise to recommence drilling operations on the Liberator field. "
We don't need reminding what happened next do we.
Again just to mention Minos High is a prospect not a discovery.
Lot of risk for the sp.
Cash Card,
Why reduce the float if they have just increased it by 30%.
Did you watch the proactive video. Both Majid and Graham were well and truly bruised following the questions thrown at them. Even the lady presenter had a wry smile at some of the questions which she hadn't asked or afraid to.
tnorstrom
To grow the company we need to bring Hydrocarbons to the market. To do that, we need CapEx to fund the drills. That is our lifeblood, that is what the company does. There are other reasons why the sp is weak. We should look at the threat of US shale, producing both WTI and associated gas; their production is increasing week by week, seeking to hedge at high prices. There are also two majors increasing their Permian production next year. We had AECO gas before the Oil Sands. It was the US shale associated gas that destroyed the price structure of our gas. (de ja vu?) We are also at a disadvantage with the US concerning LPG as we will have to wait for the Shell LPG facility to open in 2004. They say oil will be over supplied by 2022 or even earlier, if Iran legally re-enters the market, How will Opec+ react? It is also evident that costs for ESG will reduce our profit. We are using CapEx for electrification of pumpjacks; new pipelines to eliminate trucking. We also know that rather than grow organically, they chose to increase the share float by 33%. We have a CEO who's greed prevents him from subscribing to any risk. We have future known and unknown costs, such as the Trudeau incremental carbon taxes. He will almost certainly seek to align himself with the actions of Biden . There are two recent additions to the Trudeau cabinet, including one with 20 years experience within Greenpeace .
Electrification of the pumpjacks to reduce methane emissions will make a big difference; some saying a 40% reduction in escaping gas, and is Alberta wide.
We need to get COP26 out the way and see what Trudeau has to throw at us?
Nuttal? No idea of who he is and not interested!!!
Obviously he would rather have more FCF than invest for growth.
Serenity success depends on oil being to the west. I am assuming the first drill would be there and other drills would be contingent on that drill???
I am also assuming i3 will have to pay the lions share of that risk! How many Pi's have waited for a drill to come in and been hammered when 25% is knocked off the sp because it was a ducks egg? Depending on how it's funded how/when will the company recover? If it's a loan that is used, it will be the Canadian Cash Flow that is funding it. The risk isn't worth it!
If there is a need for CapEx why are their discussions on share buy backs?
Shareholders funds are used to grow the company. If the company finds less of a need for those funds they may well return those funds to shareholders.