Member Info for harel

Its about the ratio of risk/reward, the upside of a discovery is about 4-5 bagger, and in a bad outcome the main assets secure the investment long term.

The same reason i didnt want to sell when we were at 3p.
They are sure that i3e will raise the offer and willing to take the risk, i can respect that even though im positive no better deal will be on the table for them.
When you are betrayed by your mnmt its might make you want to ruin their plans and take a loss of whats lefy.

When the sp moved from 20p to 40p you all decided farm in is a done deal, news flash- its not.
I Also see posters here think njom-3 is a sure commercial discovery with no risk, its not!
Theres a 50%/50% of f.i at best and 70%-80% of pmean discovery, statisticly its around 35% of things going our way.

I wish i had the funds..
If i3e will f.o or raise funds to complete the purchase toscanas shares might be considered cheaper then i3es shares and will be bought by investors who will vote yes.

Oiler,
Your rational is correct, the toscana sh might end up with nothing if they vote no but you dont see the all picture, they are frustrated and injured after loosing 90% already and prefer to risk loosing whatever left of their investment then to be taken advantage by their mngt and being left with quarter of whats left.
If they wanted to go ahead and believed that i3e will make a 4 time bagger they could sell the toscana shares at that price now.

They also need the second listing.

I3e doesnt own the debt, only once they pay the second 1.8m$ at year end they will own the debt and if they choose legal action against toscana it will take time and money.
I wrote the debt is secured by the assets.

The debt is secured by the assets of toscana but all their plan is time limited and moving to legal action and no tsx listing can have a domino effect.
With 300k pound of toscana shares and the mngt holdings they can secure the vote.

another 5.7m shares traded yesterday..
btw, in order to keep their value the toscana sh need i3e's share to to come back from suspense at a price of ~24p.
if the toscana approval was important pre suspension now its critical.
I sent the bod a very harsh email two weeks ago telling them to wake up and read the toscana bb where all pi's are voting no and that a no vote will make themselves toscana number 2 and personally I will sell all my holdings at loss if that happens, might fell on open ears and might not, the important thing is it looks like the big volume support the vote.

Obviously a lot of work was invested the last few months and the suspension and the LOI must be backed with financial plan that the warrants play a part in.
The numbers are in place!
11000 bbopd for starters should generate 40m$ of annual net profit and unlock the serenity value if f.o is not completed.
25m boe PDP has a value of 120m$ at current poo.
65m boe 2p has a value of 150m$ at current poo.
The deal gives i3e the potential to get to 50000 bbopd within a few years, so it all comes down to finance, if they can complete all these deals- toscana, the Canadian assets and the f.o, it's no longer the company we knew, if they cant then they just gave away third of what's left of our investment for free.

If we were trading now we would see a fully diluted sp of less then 4p.
If i guess right the investors will fund the purchase only if f.o is completed then will get more warrants which will affect the price once we're back from suspension.
There is a saying in hebrew "the operation was a success, the patient died" hope we will not be that patient..

At strike price of 0 the "investors" (and ofcourse mngt) are getting 50m shares for free on our expence so we can all feel good about our contribution to those in need providing them food to put on the table.
Saying that, the "investors" they are working with on funding might have an understanding with the bod about funding the purchase and the free shares are part of that understanding and the free shares to the mngt is just because they can though it doesnt sound so legal to take such action without a vote.

If majid can secure 60m$ funding for this deal then he is a finance wizard.
They are talking about the toscana deal as a done deal, they revealed that mngt and insiders will vote yes by the agreement but 66% needed.
The company has 2.4m pounds, enough to complete the deal.
F.o discussions are ongoing and looks like i3e is in a much better position with the waiver and the LOI.
25m boe PDP has a value of min' 5$ a barrel even at current poo and 8$ min' post covid-18.
65m 2p boe has a value of 2$ a barrel and up to 5$ post covid-18 if break even is same as the toscana b.e.
We are kept in the dark and i dont like it but no choice but to wait it out and see if we're in danger or if we are the danger...

Just imagine if someone bought i3es debt and made an agreement to buy us for 1.5p

Toscana SP fell from 10$ to 0.01$, the offer they got leaves them with 25% value of that, if you hold 1000$ of toscana, at 6p, you will own 250$ of i3e shares.
Still better then nothing but this deal is on their expence.

The victims of these brothers dealing are the toscana SH.
If it will be approved its the steal of the century.

All voting no there but not much posters writing on the bb.
Hopefully most of toscanas investors will not vote and make the 27% of insiders voting yes the majority.

the time frame for a deal is running out as you know, the noteholders gave i3e some breathing room, the dolphin agreement proof of funds was due two weeks ago and with no rns they probably give i3e more time to close the deal and all the 2020 drilling campaign window is closing fast, so my point was the toscana vote is the last event to take part in the discussions, if approved then i3e will be able to raise funds based on the debt free asset and i3e's poker play will be backed with a good hand as they can let the oga rule on tain and let repsol chase them, if not approved repsol might choose to let i3e struggle with no cash till they will accept their offer.

tony, I thought I was clear enough but to make sure I wrote the following about repsol:
"Repsol and rre have invested about 40m$ in tain"
"Repsol is pressing ahead with the tain DP hoping the oga will issue the permit"
both facts.
you wrote :
" I think the truth is that non of us know the status of the discussions and who they are with"
on april repsol confirmed discussions are ongoing.

All the facts are backed by research, the rest is me trying to put the pieces together.