Member Info for G_G_G

Let's hope so Gerry. That would certainly put a small rocket under the sp :)

agree on t/o timings vernet. i think the next 2 months is the ideal time to swoop. not just because of the aeco seasonal pricing uplift, but because any buy-backs will no doubt give a small boost to the sp as well.

mgt better notify the market of any approaches above 20p otherwise they should be taken to court. they can talk all they like about our inherent value, but our value is what the market ascribes to us, and that's current less than 12p. if they don't agree with the market valuation then it only highlights they should get off their @sses and make some changes to the sp. they are responsible for our valuation. it's a big part of their job they seem to ignore. rather, they like to sit back and say 'the market will take care of itself'. simply untrue. there's so many ****ty companies out there valued at astronomical metrics because their mgt does the complete opposite to ours - they get out there and sell the company to the market. majid and co should do some f@cking legwork for once. the easiest way to get us back near 15p is for mgt (majid in particular) doing their own share buy-back campaign. it will probably have a greater impact then a company buy-back and the cash can be put toward production. majid needs to do more of the basics of being a ceo right, which means putting his hand in his 600k salary pocket for more shares. he'll get a nice dividend on them as well so hardly a bad investment. bl@@dy frustrating being in this company. we've literally taken 3 steps forward and then 3 steps back. we're at the same value as august 2021 ffs.

thanks for the numbers tony. i agree they're very good in clearwater. people don't understand that 100bbls at usd$1m are crazy figures. it's only when you scale these numbers that you get a clearer picture i.e. for every usd$10m you get 1kbopd. and this goes straight into established (and owned) infrastructure. it's why i'd like to see them take usd25m and throw it at another 2.5kbopd in clearwater or elsewhere that will not only build production (quickly), but also build reserves. the alternative is they buy the production (and reserves). i'd also be happy for them to buy providing we're not still haggling over prices in 6 months and done nothing with our acreage as we could have added the same production and reserves in this time. whatever the outcome, the company needs to pivot heavily to oil from now. i don't see gas prices getting anywhere near what they've been recently. if anything i see them being below the long term average for the next few years. oil on the other hand has a good couple of years of +$70. so best to make hay while the sun shines with oil.

finally, if they are going to buy production and reserves they will need to finance via debt for at least 75% of the acquisition. by my reckoning that puts us in the usd$50m range. not sure what oil production we can buy with this money, but with drilling we have a pretty good idea now of what that amount of money will yield. shame the sp is so horrendous as we'll need to dilute by considerably more to raise $12.5m.

buy-backs imo won't deliver anywhere near the same value uplift in the short or long term. they work on paper, less so in practice. fair enough if we're throwing off tons of cash and have limited short-term development options. but that's not the case with us. we have debt. we're not throwing off tons of cash. and we have many low-cost, high return short-term development opps. if this is how they intend to spend our limited resources wiht buy-backs then they can have my shares on the ****ty little spike we get. just watch what happens if this is their idea of boosting the sp. you'd get a far greater uplift if f@cking majid bought 1m shares over the next 3 months. and that would only cost him £125k, which is peanuts given the wage and dividend payments he receives from our company. lots of options. hopefully they don't do buy-backs. aimho gla

Shares, I mean that we've been under-valued against the average Canadian peer for the past couple of years (hence a valuation penalty). What's worse is our NOI, fcf, reserves, divi (& strong yield) and so on, should have given us a valuation premium all this time. So where we've been value wise versus where we should have been, has always shown a significant disconnect. Of course commodity prices have negatively impacted our sp, but our movements have been greater than the average. Mgt need to do concrete things to fix the disconnect. The simplest would be Majid using some more of his massive salary and dividends by investing into the company he runs. JF has certainly done his part. As did Graham. But Majid has never been one to do this. Very frustrating as ceo's that are heavily invested tend to generate higher valuations for their companies, and they tend to get off their @sses and sell their companies as well. AIMHO

Karl, the !diocy in your posting is other level.

Meant to say in last post 'use the excess cash being thrown off by increased production in 2024* to raise the dividend back above .1p. this in turn will raise the sp base'

Reckon if mgt utilize the debt well in the coming months to increase production then it should be easy to raise the recently halved divi (.0855p) back above .1p in 2024. There's some major problems if we cannot do this given past payments as we'll be producing +21k boepd. This should also take into account the debt re-payments and current commodity prices. This in turn should put us back above 15p even with our valuation penalty. Mgt need to take a good hard look in the mirror regarding this penalty and work out how to get us back to average. Raising production this year and the divi from the beginning of next year are my preferred options. And of course asset sales where it makes sense. AIMHO GLA

tony, i don't have any issues with someone invested in a company voicing their anger or discontent with mgt decisions on a public forum. otherwise every company becomes a rampy echo chamber. people will make their minds up based on the balance of views and information in the public domain. after making a decision it's on them.

i think an important question to ask right now is why have we consistently been ascribed a valuation penalty versus our canadian peers. companies that are trusted get a premium, and we're quite the opposite. so why is that? and what can mgt do to close the gap with the average peer. here's a few thoughts to start:

- majid buys +100k shares multiple times over the coming months. this alone is worth 2p to the current sp and very easy to do. he has rarely stuck his hand in his pocket despite his massive wage. and has been more than happy to get monstrous dividend payments on all the free / cheap warrants and options he owns. it's simply not good enough him not putting his hand in his pocket when all other investors are feeling the pain of their mistakes.

- utilise the remaining debt. i'd prefer an oil-based acquisition, but would be fine with them drilling more wells if this is unlikely to happen on good metrics in the coming 3 months. i'm not in favor of buy-backs as i've rarely seen them work in driving value. it's all theoretical nonsense. use the excess cash being thrown off y increased production in 2023 to raise the dividend back above .1p. this in turn will raise the sp base.

- raise our profile with more interviews and engagement with funds, iis, media outlets, industry 'experts' like malcy etc. they've always been **** at this and still appear not to care too much.

- more good news more often. i'm in favor of drilling more wells with our debt so tell us what we're getting from each well. there's not a lot of them so give a round-up of performance. sell the value of the acreage by telling us things like whi have mentioned about clearwater. the company should be saying these things, not a f@cking broker.

- sell the nth sea assets or anything non-core in canada. raise cash and put back to work in oil rich wells.

- hit their f@cking numbers!!!

and of course my personal favorite is sell up. anything above 20p. reckon mgt won't do it because they get paid too much to let everything tick over. so hopefully a hostile t/o lands instead.

Tony, your forecasts and posting is welcome. I've only filtered 2 people in all my years on lse. Louis is one of them. Just filter him and ignore. There's literally nothing of importance that he says so you're not missing anything. And he clearly bothers you in the same way as he p!sses off most people on here.

Has anyone heard anything from their emails to company, nomad, IR/PR...? Pretty gutless of mgt not to front up to investors with an interview or Q&A. Also means the sp gets hammered more than usual. Keep emailing the company and hitting their social accounts people!

Oh and the importance of a high dividend for a company that gets a valuation penalty is clearly on show at the moment. The market views i3e as a risky investment and has taken the yield up to 10% before we previously found a base. That's just above 10p folks. How we can be churning out 21k boepd and paying an 8.5% yield and still be dropping speaks to what the market is saying about investing here. If Majid has nothing to regularly tell the market, and we know he does, then he should start allocating a small part of his massive monthly pay packet to buying more shares in the company he runs. After all part of his job is to deliver shareholder value, which is currently a horror show.

Lots of bickering on the board at the moment. Good reason too given the sp has now broken 12p. That's 12p!!!

I've said many times previously that mgt have largely done a good job except for a few things. One of my biggest gripes relates to how they haven't gotten us on enough investor radars. We've been under-valued against the average peer when our story has been far better for years - why is that? We clearly get a valuation penalty applied against our fundamentals, which I believe is because we've had a few issues for pis over recent years that have over-shadowed our successes - liberator miss and insider trading, massive dilution x 2, excessive mgt options and give-aways, serenity miss, noi misses x 3, and consistent lack of ceo share buying. From an ops and deal-making perspective mgt have proven themselves to be very good. It's just there's been a few too many big misses and mishaps and not enough pr around how well the company is being run. There's plenty of companies that are out there telling the market about all their recent drill results, reminding them of their growing production and reserves profile, their world-class acreage and so on. If mgt made more of an effort to get us known they could add a few pennies at least. Instead the majority of interviews are on the back of negative news such as the recent rns.

As I've said previously, if mgt don't have the will to drive sp value then sell up. At least we won't be here in a year taking about how we're still under-valued against peers and will have received a nice pay-out. SP is a complete f@cking joke now. A truly comical valuation. I thought 13p was the bottom. Then 12.5p. Now I have no idea where we could end up. And what will it take for mgt to get out there and do something...? Do we need to re-visit single digits...? This is just 1.5p away now people. We wouldn't even get 25p in a hostile bid now. Reckon any bidder would chance their arm at 20p. Question is whether mgt would feel compelled to tell the market of an approach? Majid get paid something like £600k and he puts his hand in his pocket for how many shares? Majid should start his own share buyback campaign and not stop buying 100k tranches every month until the sp has gotten back to +15p at a minimum. Instead he relies on cheap warrants and options. JF at least feels compelled to support the sp.

For PIs it's pointless selling now as the valuation has gone well beyond anything remotely sane. Even against our previous under-valued multiples we should be sitting on 13-15p. But the penalty applied here just keeps getting bigger. The sooner we get a bid the better. Any would be acquirer can have my shares for anything above 20p as I have zero faith in mgt getting the sp back there anytime soon. AIMHO GLA

To be honest guys I literally have no idea what the direction of travel is going to be in the short term (next four weeks). We could get a TR1 stating a major shareholder has added a few % and I think we'll be breaking the placing price. Equally that £1m trade could have been our f@ckwit NED offloading again and the sp could break below the recent 325p lows for a short period. This nightmare scenario we'll learn in the next 24 hours but don't be surprised if that's what is behind the sp drop last week. Longer term (by end 2024) I feel very confident we'll be back around 700p or will have been taken out for £10 by one or more of our major holders. But there's a long way to go between now and then. And we'll need to navigate all sorts of shenanigans given this share is constantly bordering on illegal goings on. The approach last year not being notified to the market. The recent raise and loan (and who they went to). The recent NED sale and how the market dropped the sp suddenly and sharply before the announcement. This company stinks. But if you believe it will fundamentally be turned around there's at least a double your money situation in the next 12 months. AIMHO GLA

Interesting that Sirius is mentioned in the sharesoc campaign page... I imagine our ceo is familiar with this group.

let's hope that £1m trade isn't our f@ckwit ned dropping another tranche into the market. if so then watch us drop back down to 325p. that ****** sold £1m last time remember.

We must be in some cross-hairs right now. Perhaps that's why mgt are looking to do some buy-backs...? Either way if I was looking at i3e I'd be licking my lips at the thought of picking this up in the low to mid 20's. Reckon major holders would probably be ready to dump now as well. Can't see us getting back to 25p anytime soon. Not when we're going backwards as poo is going up.

Fellas, hit their socials. Send emails like Ideas to AIM regulation. Speak to their greasy nomads. The fact they haven't given any details on where things stand on this project after months and years of silence isn't just pathetic mgt, it's bordering on criminal. If enough of us make some noise we may just get some answers. GC needs to do his f@cking job. Hard to believe he works for us. Have a great w/e.

Meanwhile we have just broken £150m mcap. How on earth is this happening...? Even with the recent NOI forecast this is f@cking ridiculous. Relatively low volume unless there's a major order in the background. Also doesn't make sense to be selling at this level when commodities are starting to break-out to the upside for the next 6 months.

Very low volume. And a quite tight range. Strange day versus what we've been through in recent weeks.

And still no TR1s...

Understand Vernet regarding director buys, but I'm more keen to know people's thoughts on what would constitute an offer where they are compelled to tell the market. I'm sitting on 65k Asos shares at the moment and when they were £6 they were offered somewhere north of £10 and didn't tell the market. This was reported months after the approach was made. Mgt did however arrange talks between 2 x major shareholders and the would be acquirer only for nothing to be mentioned publicly and the 2 x majors arranging a capital raise at £4.18 and a debt facility that favored one of them.

I'm unsure about what the rules are for t/o offers but find it incredible that such a thing can happen to a main market listed company. Who knows wtf can happen with AIM. The whole thing is rigged to IIs and major holders. We just need to get lucky.

stas, the fact i'm in profit after 3 years of being invested has got nothing to do with the fact we should be valued far higher. i also lot a lot of money when liberator failed. so it's a stupid comment to make. as for what nonegs is saying, well there has been times where **** has happened and we've found out after the sp has inexplicably dropped. and for anyone who has been invested here over the years they will no doubt think the same thing if we're going one way when the market and commodity prices are going the other.

fwiw i do think mgt have done a good job overall. i would have preferred they didn't dilute us to heaven in the last great dilution event but otherwise my biggest gripe relates to how they haven't gotten us on enough investor radars. we've been perennially under-valued against the average peer when our story has been far better. it's almost as though there's a valuation penalty applied against our fundamentals. i personally believe this is because we've had a few issues for pis over recent years and these have over-shadowed the many successes (liberator miss and insider trading, massive dilution x 2, excessive mgt options, serenity miss, noi misses x 3). from an ops and deal-making perspective they're pretty tight. it's just there's been a few too many big misses and mishaps and not enough pr around how well the company is being run. there's plenty of companies that are out there telling the market about all their recent drill results. reminding them of their growing production and reserves profile. their world-class acreage and so on. i think if mgt made more of an effort to get us known they could add a few pennies at least. instead the majority of interviews are on the back of things such as the recent rns.

as i've said previously, if they don't have the will to drive sp value then sell up. at least we won't be here in a year taking about how we're still under-valued against peers and will have received a nice pay-out. aimho gla