Member Info for harel

Agree jim,
The major who is interested in checking the data will run it through the super computer and might get to "see" the oil or not.

I3e is in a race to prove reserves to able it to move forward while securing their longer term obligations.
Toscana if finalized will cost around 3m pound and will not generate cash flow for atleast 1-2 years nor a rbl is not an option till 2021.
The only option is for the company to raise 10m$ for a 1 well in serenity that if proves 80-100 ft of net pay will able another rbl.
Ofcourse if serenity will be proved by the company alone any future f/o will be more expensive..

Dont forget i3e still dont own the debt, next payment is due on 31.12.20.

"Among RockRose's other assets, Austin noted a decision is due on development of a project known as Tain, which lies near Blake and Ross, a pair of fields that have been producing for two decades.

Operated by Spanish-Chinese venture Repsol Sinopec, RockRose holds 31% stakes in Blake and Ross and 50% in Tain. Austin said Tain was still under consideration, but the production vessel for Blake and Ross was set to remain in place until 2029. "Again, the more hydrocarbons you can get across the vessel, the better the economics," he said."

The dolphin agreement was just signed so i guess they had a reason for the deadline of proving funds.
The bleo holm is contracted till 2030, at the current capacity its a bad business, this project is dependant on expanding the production to full capacity and time is critical, you can see repsol is going foward with tain even at this oil crisis waiting for the last enviormental permit to fid.
The tain project appears to be dependant on an understanding with i3e and the fact the oga havent ruled on the issue of tain being an extension of serenity suggests its going to be solved between the companies.
Repsol confirmed the talks are ongoing just a few weeks ago.
I3e would not waist money for acquisition when its about to be out of cash if they didnt know they are going to get funded soon.
All together suggest a f/o is due.

You keep writing about contrary statements just because you cant understand how someone who is invested in a company writes about bad potential outcome.
Me writing about the outcome of a no vote doesnt mean i think that is the probable outcome!
That is an extreme outcome yet possible and that is why i am learning about such outcome.
Investments in oil is my profession, thats my job and my family's future so i take it more serious perhaps.
When i do have an agenda, like my posts on the toscana board, i make sure to write it upfront, maby that is naive but that is the way i do things and that got me to run the most popular oil&gas forum in israel and a few more specific companies forums.

Fairdealer, i like to check all possibilities and risks.
If you look at the likes that positive posts get on this board youll see people here dont care about anything that doesnt support their position and anyone who writes about risks must have a short position or secret agenda.
That is rediculous.
Btw, i am not trying to send signals but to discuss about the company's operations, everyone knows my position.

I think there is more then 50% of i3e making a f/o deal within the dolphin agreement time line - 1.6.20.
By my research about toscana and the sentiment there, even thought 72% of the shares are in the hands of PI's i think they dropped so much and the share is "dead" for a few years, my guess is not too much PI's will participate in the vote, while the 28% of the managment and insiders will all vote and ofcourse while some PI's will vote no hoping for a better offer some will vote yes so i think that we are secured.

If i remember correctly i wrote on the toscana board that i3e has a potential to be half a billion $ company in a FEW years, you should back me up.
I dont understand why people here always try to fight or look down on others.
Any way half a billion company FYI is a company that with a 20$ break even produce 25-30k bbopd with a 60$ oil price.
If i3e f/o and keep 40% serenity will produce net 10k bbopd.
A1 has a 5000k potential.
Lib west might prove 150m boe
Toscana in 3 years might produce another 10k.
Thats POTENTIAL!
Were talking about 2p sp.

Tony, i realy dont understand if you are serious or cynical. Ofcourse i will write about the potential of i3e, i am an i3e investor.
It is the best thing for them to vote yes or they get nothing and the last thing i want is for the vote to be no and well need this legal bs at the worst time.

This was posted on the toscana bb by a guy that holds 3% of the shares:
RE:RE:RE:RE:RE:RE:RE:RE:RE:Re: Acquisition vote

In BK a receiver will be put in place to liquidate TEI.

A transition loan will be grant to paid receiver, lawer, TEI man power etc.

The receiver will managed TEI

The receiver will put for sale all the TEI assets

The receiver will grant the assets to the highier bidder asssets per assets or for all the assets.

Then the court will approved the assets sales

The receiver is the first refund, following by lawers and the transition loan is refund.  If something is leaf, secured creditors follow by unsecured creditors and shareholders

The Court process is costing 2-5M$Can, may be more.

We agree, the assets are securing the debt!
They will be delievered to a reciever which will manage them and try to get the best offer possible to be paid to i3e.

https://simplywall.st/stocks/ca/energy/tsx-tei/toscana-energy-income-shares/news/what-kind-of-shareholder-appears-on-the-toscana-energy-income-corporations-tsetei-shareholder-register/

Btw nick, i thought exactly like you before researching the subject.

All SH in the toscana bb are voting no, they think they can get a better offer.
If they vote no its gonna snow ball, i3e will need to eather make a much better offer which it cant afford or start legal action which will take years, cost a lot of money and the assets will be managed by a reciever to sell for the highest bidder and will not be delievered to i3e.
We will not have a secondary listing etc.
We are actually in the hands of the toscana SH.
I hope this was secured in advance by both managements, maby by buying shares privately to secure the vote.
A lot hangs on this vote for i3e.

I3e just might made a questionable deal, they baught a debt that obviously cant be paid and that deal is done (by my understanding), but the deal of buying the company for 4m shares still needs approval from the SH which are not happy to be sold for practicly nothing and hold more then 70% precent of the company, so if they vote no there is no secondary listing, no acquisition and a 3.4m cad lost.
Still need to varify the debt purchase, if its optional or not, but even if it is, the demage of not being able to keep up with the company's obligation to the junior loaners of secondary listing might start a chain reaction that doesnt end well for us.

Appriciate your responds..

If the data is interpretated and available to interested parties then what did they pay for?

As i see it the namcor deal aims to make the license more attractive for f/o.
The interpretation will likely take around 3 months, if they are in talks that might be required to proceed so in that scenario once an updated cpr is out we can expect a near term deal, if they only made contacts but got nothing solid that should attract potential f/i's and a potential deal will be medium term.
My guess is the updated cpr will be released after the venus-1 results.

Bamps/anyone who knows,
What was the 2019 net profit of cerp?