Member Info for freshair

kingivor
I totally agree about the Loan Notes. A lot of the big companies have refinanced at just over 5% lately. I asked about refinancing as they are not paying off the LN debt. This is why I'm against the dividend. We have until 2023 to satisfy the debt but I've been told, the 8% we should be paying now becomes 11% if we roll the debt. What is alarming is the payment will be Payment in Kind. We must be hoping for a big increase in our SP to do this. We all know its Bybrook who hold just under a third of the shares; PIK , options/warrants should be out the money but I wouldn't bet my house on it. I believe they are banking on Bybrook to finance any deals but even if they are OTM they will still have to sell some shares or offer to buy the company somewhere down the line. If they are ATM I'm sure the directors will also give themselves freebies. Don't want to
instil doubts in Pi's minds because we should give the Canadian team time to do the job. We have Transmountain and the chance to export our oil Xmas 23 so we should be cracking on with obtaining a bigger weighting in oil. I'm a LTH, and they owe me money, how can you tell?

maestro
Already had that map. Knew about Nipisi but didn't know what exactly we had in Martin Hills. The ellipse which Graham drew, takes in a lot of the Athabasca area where the northern region holds oil sands; and the reason he said, Oilsands it is not. It touches the Cold Lake area to the SE.
I'm sure the Canadian team will already have made their minds up where we need to go?

Looks as tho' our Canadian cousins are right. Came with a png map but I can't transfer. The map isn't detailed as such, its only when you look at a more detailed one that you understand the scale. He has it marked with a green pen.

Hi R,



We’ve not disclosed the exact location previously, but our acreage is in the Marten Hills/Nipisi region. The Clearwater is one of the hottest plays in North America at the moment (within its sweet spot), but there are varying degrees of oil quality within it. Oilsands it is not.

Kind regards,

Graham

As soon as he had said, "We’d stated publicly that i3 would be putting out quarterly updates"; their was no way he was going to tell me in advance what could be in that update.

I asked as his brother was CEO within Canada, along with 2 VP's would they have carte' blanche for decision making. He of course replied, it would be the UK parent company. It still changed things for me because the 3 had worked together as a team in their previous roles; their opinions on expanding the company should go a long way. He only responded with what he wanted to say; news should be imminent concerning the divi . Nothing was said about Clearwater / Serenity or the infill gas drill, Lets see if there's any mention in the update? No point asking Camarco or Majid, they do not take notice.

I sent Graham an email at 17:29 yesterday; he replied, Tue, 20 Apr, 20:31 (18 hours ago)
He was aware of what I had said but replied in general terms.
Graham,
We’d stated publicly that i3 would be putting out quarterly updates, so the market should expect to receive news on Q1 in the near term. Covid: We are managing operations in a safe manner and in alignment with government guidelines. Ultimately, all decisions are made at the parent level – i3 Energy plc in the UK – but we have 40 highly qualified staff in Calgary, most of whom have spent their careers in the WCSB almost exclusively, so that portion of the Company is in very capable hands.
Hope you continue to stay healthy.
Graham...

Dating of the report means from today.

Expectations are high for the Canadian oilpatch’s first-quarter results season, which starts Monday.

Sorry wouldn't let me post a link. Just what we know.
(Bloomberg) --Total SE’s likely decision to proceed with a $5.1 billion Ugandan oil project will extend its dominance as the biggest spender in sub-Saharan Africa.

The French energy giant, poised to greenlight the plan within days, has been the largest investor in the region since 2012. Its spending on exploration and production there peaked at $6.2 billion eight years ago, and even following the latest downturn will be around $1.9 billion in 2021, Wood Mackenzie Ltd. data show. That’s more than double any other international producer.

Probably already been posted?
Https://mail.google.com/mail/ca/u/0/#inbox/FMfcgxwLtQVjdCXvRtJrCHvphptVzhZC

I just think its the negotiations taking place with the US and Iran. They say the Biden administration phoned Saudi before their meeting, asking them to keep energy costs low. Any agreement with Iran is bad news for oil price and Biden knows this. Next meeting Friday.

I just think its balancing the books, sell to create a loss or profit; end of tax year.

Up and Away

Global oil demand, which plunged as much as 30% during the worst of the pandemic lockdowns last March and April, is now back at about 95% of the pre-Covid high of just over 100 million barrels a day hit in 2019, according to the International Energy Agency. Together with aggressive output cuts from the OPEC+ alliance of oil exporters, that’s helped a revival in prices of more than 20% this year -- even after Thursday’s slump.

Commercial flights are back at two-thirds of comparable pre-Covid levels, the most activity since air traffic slumped a year ago, according to data from Flightradar24. In the U.S., foot traffic in airports has picked up, with a run of over 1 million daily passengers for eight straight days ending on Thursday -- something that hasn’t happened since the pandemic started.

In another indication of renewed optimism about travel, the flow of gasoline and diesel from refineries on the U.S. Gulf Coast to Mexican ports accelerated from February into March as the Latin American country’s resorts prepared for an influx of tourists over spring break, according to shipping data compiled by Bloomberg.

In China, air-passenger volumes climbed to 23.9 million trips in February, nearly three times the level of a year earlier, when the initial stages of the pandemic had grounded most of the country’s jets, according to the local civil aviation administration.

Looks like Purdue (Republican) could lose out in the Georgia run offs. Bad news if Biden takes the Senate. Means legislation concerning Oil will be easier to implement and ramifications for Canada. Might see KeystoneXL extension take a hit since he ruled against it when Vice President. US market wont like it. He might of course have second thoughts with high unemployment? I could be wrong of course. GLALTH's

I hold 768,381 shares purchased at 40/41p. i never change my stance. Quite few payed a lot more than me, based on hype from Carson/ Majid/ Heath. I investigate what could enhance the returns, or at least my money back from i3. Some people don't like what I say but I have been a shareholder of i3 a long time and I have to question why? I am hoping the appraisal of Serenity comes in good but I am far from convinced. I certainly wouldn't waste money with the Minos High or Lib West. I expect Serenity to be appraised in the spring; if unsuccessful the sp will tank. The stoiip is based on pressure testing , so nothing is going to convince me there is oil to the west until the drill finds it. It's about time these people proved themselves. I asked Graham why we weren't mining Clearwater for Heavy oil, he replied the weren't in the Oil Sands (twice), yet its promoted as part of the purchases of Toscana and Gain. Yes the differential is crap but the likes of ConocoPhilips and other majors mine and send diluted oil to the US Gulf Coast. They even use rail on a Pay or Take Contract which is more expensive than pipeline, but its guaranteed to get there. They make a good profit otherwise they wouldn't do it. Gas is forecast to increase but the market is also healthy for heavy oil from Complex Refineries such as the Gulf Coast. Majid / Heath gave themselves ATM options because Bybrook said they should. They will take up those options and receive dividends attached to the shares. This action should have been voted on. Of course whey would still have voted for them but at least the pi's would have had their say.

I know its above some on here, but its important the Senate remains in the hands of the republicans for the sake of the oil industry.

NEW YORK (Reuters) -Oil prices fell from multi-month highs in volatile trade on Monday as U.S. stocks eased on concerns over the outcome of runoff elections in Georgia.
The S&P 500 and the Dow also eased from record levels on the first trading day of the year as President Donald Trump travels to Georgia in a bid to keep the U.S. Senate in the hands of his Republican Party.
The market declined despite expectations the Organization of the Petroleum Exporting Countries and allies will hold off on increasing output in February and optimism over a vaccine-driven economic recovery.

The Company acquired a 100% operated interest in Licence P.1987, Block 13/23d, which contains the Liberator oil field and is adjacent to offtake infrastructure, from Dana Petroleum in December 2016
As detailed in the Company's Admission Document found at https://i3.energy/, i3's core asset is the Liberator oil discovery located in the Outer Moray Firth within the UK North Sea. The Company's independent reserve auditor, Gaffney, Cline & Associates ("GCA"), attribute 9.4 MMboe of 2C Contingent Resources to i3's 100% operated interest in Licence P.1987 in Block 13/23d (the "Liberator Licence Area" or "LLA"), with the wider Liberator Field Cluster ("LFC") containing 16.1 MMboe.

Canadian energy giants take out full-page newspaper ads as federal election looms
The three companies who signed the letter all market at least part of their oil in the form of non-upgraded bitumen. The letter says Canada’s energy companies produce a product that continues to be needed despite the growth of renewable energy, adding that oil and gas producers are the country’s single largest investors in clean energy technology.
Their is also a person called Biden waiting in the wings to cause upset. Biden’s climate and clean energy package is listed at $2 trillion. You should be fully aware the US is the largest export market for Canada. January 05th is the run off for Georgia and control of the Senate. If the Republicans win, it will be difficult for Biden to get his own way completely; tho' he will still be able to make Executive Orders. He has already stated that he will pull the plug on the XLKeystone extension but its also being said he has to consider employment following Covid. He has said he wants to rejoin the Paris Climate Accord which allows members to set their own emissions targets. It will involve reducing carbon emissions. What ever Biden decides concerning fossil fuels , it will affect Canada. Just to add; "We can't rely on Serenity since you seem to have been negotiating a F/O for as long as I can remember." Graham: "This speaks to the difficulty of the sector you’ve currently invested in by way of i3. We are making headway here and, as we’ve continued to publicly reiterate, believe we’re close to concluding a farm-out" Unquote.

........ but has an upgrade cost.