Member Info for G_G_G

I'm guessing gas prices and f@ckwit government policy didn't help as well Dr Patience. There was also a hell of a lot of shares offloaded by Canaccord which must have taken a couple of months to shift. Either way the shackles have been released. Time for some news now.

Caesar, has there been any dilution since Q4 2022 when they started drilling? I can't see anything in company rns history. Just want to ensure we're comparing apples with apples if referring to historical sp levels.

Volume looks the same in Canada to me 3LBs. Just a little more upward buying pressure over the pond creating a small disconnect. Agree it would help to get some more coverage over there Vernet. Still holding out for sub 11.5p. GLA

I think it;s safe to say that if the deal is good there will be no more 30's and highly probable no more 40's as well. I may need to revise my sp milestones upwards if we're sitting in the 40's when Penascola news lands (providing it's good). The more coverage this gets after the Penascola deal, and in the lead up to Selene, the higher we will go. There's a hell of a lot of money sloshing about in companies like 88e and PANR that can get a similar return here to the spikes they see in those companies.

SP doesn't appear to be taking a breather. All getting very exciting. GLA

Fairdealer, I understand what you're saying and it happens all the time. Personally I don;t have a problem with not being able to participate in a raise unless the offer price is at a massive discount and is a give-away to insiders and those connected.

I don't see mgt offering a large discount here, so it's more about how much they can raise at a decent price. If they can raise most of the funds at a high price with a couple of cornerstone investors I think it could work out quite well. Often the sp increases on the back of such raises as we'd have the financing settled, have retained maximum ownership of a v.large discovery, plus there's less PIs flipping for their 10%. Either way it won't be long until we find out what they've been up to. GLA

Well one thing's for sure, the next update is going to be quite something. Not many companies have this much in cash for dividends and buybacks, zero debt, with huge reserves and production upside (if they can get the pipeline working). I think there's a good +25-50% by year end if Brent stays in the 80's, the Amazon water levels don't break record lows, and the locals don't do anything crazy. I'm confident on Brent +$80 and reasonably confident on the other two points. Have picked up 300k @ 46p average over the past couple of weeks. Tempted to go in for some more given the update we're going to get in a few weeks will be very positive. Only major thing that worries me is an oil spill int he Amazon, which would be catastrophic for the environment and the company. The irony is the pipeline was meant to be a safe way to export the oil and instead local h@lfwits have been sabotaging it a game of environmental Russian roulette. GLA

Dr Patience, I agree it makes sense. I think you were conversing with me on this a few months ago when I was looking to get in. Best option from my pov would be to take out a loan for $15m. Second to that would be a loan / raise. Third would be a raise at +40p (25-30% dilution). Final would be a f/o, but not if they're going to give up 10% or more. If a f/o, then I'd be happy if it went to Shell where 7.5% carries us until development. Less partners means it's easier to develop. And, easier to sell our stake to another party if we choose to do so. Anyway, that's my take on things. Reckon we'll drop back to 37-38p with the pattern of slowly gaining value until we get news. Not long now. GLA

Into the 40's people. Starting to get a bit of traction here. Now for some big announcements.

Hearing you 3LBs, just being greedy. Not sure we'll get a few pennies on the news due this month. Having said that if they update the market with an asset sale or acquisition then yes a few pennies is definitely a possibility.

My average is 10p thanks to the couple of million I got in the 8's and 9's. Trying to keep it near that level for the next batch. Fine to buy in the 11's. Will hold off in the 12's. GLA

You're welcome KAF. I think it will gradually head into the 40's over the coming weeks with the usual pullbacks for people taking their 10%. Lots of news due in the next few months though. Hopefully a few of the excitable types at PANR and 88e bring some of their cash across and we see a decent leg-up. Still a very long way to run.

250k was me earlier :) Up to 4.5m after a couple of 125k trades yesterday in the 11.7's. Going to leave it now until the inevitable ex-divi drop. Hopefully I can pick some more up in the very low 11's or even 10's.

Anyone take my tip on DELT btw? You'd be up close to 15% from a few days ago. Reckon it might pull back to 36-38p due to some flippers. But once news lands in the coming weeks it's going to be heading to the 50's in very short order. Def. has multiples attached to it depending on what they find and prove up / appraise with Shell in H2. Reckon sp has 2-5x in it. GLA

Keeps creeping higher folks. Reckon this is the start of it and we don;t even have news yet. If they drop an RNS with a great f/o deal for Penascola and firm indication of timings to be drilled in Q3/4 then we're saying goodbye to the 30's for good and will be saying hello to the 50's within months.

SP before we start drilling really boils down to the Penascola deal and how much we give away. As mentioned I'd prefer them to do a capital raise before giving away too much of such a large find. Not sure if the sp will double but certainly expecting an mcap of around £50m as the drills are turning, so 50% upside from here. If there's some good lemming bait being put out (news coverage) then yes a doubling is possible.

Regardless of lemming numbers, if Selene looks like being the size of field they have mentioned, then I'd expect us to break £70m mcap (80p) before we get Penascola news. We'll def. break £1 with two good drill results. GLA

Regarding SHG, I'm not sure what your point is exactly? Mgt were universally considered to be fantastic until they shafted shareholders with one of the dodgiest insider buy-outs AIM has seen in recent years. I don't think any PI thought this would happen, and I think you'll find just about every PI invested felt the same way about how they went about things. So what point are you trying to make on this? That I should have been calling them crooks before they had done some of the shadiest things in recent AIM history on a £100m highly profitable company? As for emotional comments, that's a bit rich coming from someone with a penchant for digging around in people's profiles to try and find something and then twisting it in some ret@rded manner. You've done it to a number of posters on here and trying again on SHG now.

But tell me Tony, if you're so clever why is the only reasonable return you've made in recent history been on a speccy? Well done on PANR btw. Doesn't quite make up for talking down posters here and watching your i3e profits evaporate the past year. Perhaps if you had listened to other posters pov you may have been able to get out and come back with more money.

As for my 'bit of value', just so you're clear I made on SHG the same % return as you're proudly crowing about now on PANR. And that's after being fleeced. Doubt the £££ would be the same though eh.

i ask you tony because it makes you feel good. your ego gets a real boost by showcasing your spreadsheets. sadly though your ego means you'll throw tantrums if people don't agree with your point of view.

as for the dividend, when it was increased it helped increase the sp, and when it was cut it destroyed the sp. that's all you need to know tony - that a dividend increase will have a +ve impact on the sp and vice versa. it matters not whether mgt went too far, it only matters what the dividend yield here does for the sp. as for increasing the dividend now, of course you wouldn't do it until aeco improves. it's why i said they should stick excess cash into oil weighted production and not ****ty little buybacks. another stock i'm in, ptal, has been doing ****ty little buybacks. guess what, it's had no impact on the sp. see, anyone can come up with examples that suit their pov.

as for the investment banks covering stocks, you've in the past been supportive of mgt saying they're going to push the pr in canada. and now you're saying it won't do anything? and you've mentioned in the past that being listed here with little canadian ownership is a barrier to us being valued closer to peers. and now you're making arguments about it making no difference and a boe being the same everywhere? you've also talked about financial metrics being the only true way to compare peers. but then you use reserves to try and make some point. try being more consistent tony.

here's my pov, which has been consistent. more canadian ownership and coverage will have a +ve impact on the sp. canadian coverage is dog****. but, operationally the company is excellent. a barrel of oil or therm of gas isn't the same everywhere. financial metrics are the best starting point to compare value across a basket of canadian o&g companies. small bbs are a complete waste of time and money. and i3e should look to boost oil weighted production with spare cash. and should we find ourselves in a +$3 gas and +$90 oil environment they should increase dividend payments (or do a special) to keep an 8% annual yield.

best stick to the spreadsheets tony - its where you add value.

Tony, the dividend yield needs to be higher due to i3e's track record and being smaller. Worth reminding yourself that the 'smaller' angle is something you like to raise wrt why we're undervalued against a basket of Canadian O&G companies. This is something that I agree with to an extent, but doesn't explain everything. So yes, imo we need to keep our dividend substantially above what any major is paying. This is of course my opinion, and not something I'm peddling as fact. You should take note of peddling opinion as fact Tony - it's something you do quite regularly in your steadfast defence of all things i3e.

As for the dividend increase, I seem to recall the share price went up after they did it. I also recall how much the sp dropped when they cut it. So tell me Sherlock, will increasing the dividend here have a +ve or -ve impact on the sp?

And in case you hadn't clocked it yet - you got owned by IBB just recently for calling his views 'unsubstantiated'. Maybe take a step back from defending i3e all the time and come back with some views on what mgt could do better. You can then whisper those ideas in Majid's ear during your next session.

Thanks for letting Majid know Tony. Remember to cup his b@lls while you're telling him.

let's see bottomsup :) i have a feeling that we'll drop back to the low 11's post ex-div. if so i'll start building my stake again. if not i've got 4m shares and a few other irons in the fire. not going to add in the 12's until i see a bit more detail on what they're intending to do this year. if they're doing a ****ty little share buyback then i can assure you they'll be buying my shares. waste of cash that i'd rather see put into production or incrementally increasing the dividend payment. i think they should look to maintain a yield of at least 8% if they wish to remain competitive in the o&g space.

and they definitely need to up their game in generating canadian pr and company ownership. as always the best result would be an asset or company sale imo. reckon 17-18p would be a good result for both parties in today's environment. providing the buyer has a decent amount of cash they'll have a significant amount of reserves to exploit, and the nth sea adventure if it comes to anything. either way nice to see the 12's again. gla

Reckon we're on our way to the 40's with a few bumps along the road. Once Penascola drops I can see a spike to the mid 40's and then a slow creep upwards to the 50's as we near the first drill. It's only about 20 weeks until Serenity is being spudded and there's a lot of news between now and then. Not long in the grand scheme of things (an eternity for a lemming though). Just need the news cycle to begin and we're up, up and away. GLA

Well done Dr Patience. Every day that goes by is one step closer to getting the final f/o agreement. And if it isn't on decent terms they should do a capital raise providing it's above 30p. I think this would be very easy for them to achieve and would help with maintaining a maximum stake in our Penascola discovery. Either that or go for a small loan agreement. We're only talking USD$15m to cover us for the Penascola drill. Following any success they could then do a capital raise in the 70-100p range and clear the debt facility.

I'm personally hoping any f/o will be done with Shell. Keeps things clean and easy to progress. Either way once they have Penascola moving I'd like to see some serious PR to get the market excited about our upcoming drills. Not many low risk speccies that can 2-5x in 6 months out there. This has to be one of the best given what we know already.

Confident we're not going back into the 20's now. This bounced off 33p a few times and will only move upwards from here. Such low volume that when news hits it will be in the 40's in an instant. GLA