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I have read doc's comments on emo and ite, and i really enjoyed both even though im only invested in ite. But 5 days ago he said that next financing will be over $5 at a 20% premium with no warrants. Now he's calling the current financing, with warrants and at a discount a great and a smart thing, and he calls everybody who's not happy with the raise or other aspects of the company a basher and he goes blah, blah, blah on them.
When you read a research report you're expected to see negative things be brought up (which there are in every company.) But the doc clearly has a weak one for critical thinking as I haven't heard him ever say one negative thing about either of the companies
My point is that even though I enjoy the doc's work, you have to do due diligence by yourself to identify the red flags which he refuses to do for some reason. A lot of people have let 100% of their decision making to doc. Not a good idea
Read their most recent press release: "i3 expects to set the special dividend's ex-dividend date for 8 July 2021." Do some due diligence before you buy, read through the press releases and watch the interviews, lots of great information
Damn ggg ur happy with 18p? Each to their own, but I'm sure you will be able to sell your shares at the open market for 18p before years end, end of q1 2022 at worst. I for one hope that they will grow production at fast as possible at all of their assets, then sell the company when growth slows down, hopefully at top of the cycle when all oil companies have re-rated .
If they're in talk with multiples companies I would prefer them to take their time and secure the best deal for shareholders, if not then just drop it to the highest bidder and focus on the Canadian assets. These people have shown that they can negotiate, buying oil production at 1-2x NTM NOI, and selling at 7x NTM NOI. They say it's a company maker, but only if they can retain a decent size
In my opinion buybacks would make sense now as they're trading at a 30-40% fcf multiple. I also believe they have to do more mapping on their clearwater property before they can start drilling there. But with their balance sheet they could do both. Hopefully they will iniate a NCIB as soon as they eliminate the retained losses. With regards to the second questions, I am sure they have looked at all possibilites, I guess one way to do it is to actually retain profits until they're in a surplus.
I don't see how their estimates adds up. I3's payout ratio is 20-30% of fcf, still they land at C$17 million in fcf in their report. How can they sustain a C$8 million dividend with C$17 million in fcf, that's almost a 50% payout ratio. Even Simply wallstreet makes better reports, and that's computer generated.
You get to a point where there is nothing more to discuss about a company after you're done with the due diligence process. Some people like to buy a full position and patiently wait for more updates. While some people like to watch the stock price and comment on every penny move on the stock. While I've enjoyed his work, the only thing that will decide I3's market cap in the future is how the company perform, patience.
I liked the interview. Some new information information, and some what to expect going forward. No reason to hate on them just because they're not pumping the stock. I am actually happy they're staying professional and conservative. Clear to me that many people here are looking for a quick 50% gain just to sell. In 3 years they should quite easily be able to generate C$100m in fcf. At a cash flow yield of 15%, share-price should get to C$0.8. Assuming oil prices stay flat. North sea assets are just a bonus at this point