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Agree. Thanks Tony for all you do here š Your reasoned posts are always a welcome when i3 was trading so low undeservingly. Most importantly though for keeping āCanuck da Divvyā in check!
Tony, that is another catalyst the market has not considered at all. If i3 is debt free by the end of 2024, that $25M debt servicing cost is then free for a significantly increased drilling program (think oil wells at +$80 WTI) or an increase to the dividend. Certainly the base dividend will be sale beyond 2024. i3 will start to get interesting in late 2024 IMO...
We could speculate on news all day but I do believe that there is news coming in the next 2 weeks.
Many theories. My dream speculation is a land swap with $CPG who have very low decline (5-10%) legacy waterflood production up for sale in Saskatchewan. $CPG moved into the Montney 3 years ago and have amassed a huge land base & infra near i3ā undeveloped Simonette. $CPG said during their Investor Day this week that they want more Simonette Montney.
Would love to see a land swap with i3. Developed producing for mostly undeveloped
You are correct. Majority of profit is coming from oil production at this low AECO strip.
Oil is 25% of i3ā production but 50% of its revenue. Do not underestimate +$80 WTI and what it will do for i3ā coffers. My hope is that strong oil pricing carries the company to next winter where natural gas should be much stronger with LNG Canada coming online then.
Tony, will you come to Majidā defence if shareholders do not get an update in March as promised? If thereās no March update will you admit that i3 has hopeless shareholder communication and an IR problem?
Thanks Tony, I mostly agree with your comments. Especially, in so far that Majid canāt control external factors such as natural gas price.
However, what he 100% can control is IR and especially i3ā relationship with the investment bank analysts. It is obvious that the stock price NEEDS analyst coverage. All of its Canadian peers get market notes from TD, RBC, Desjardins, National Bank etc. i3 have made ZERO attempt work on this during the quiet 2023/2024 pricing years. I donāt know if this is down to laziness or simple ncompetence but I do know that it would do wonders for the stock price.
There are few public investors left for small cap O&G companies and especially so when investor coverage does not exist for i3 whom are competing against $PNE, $JOY, $IPO etc and all of those names get coverage by the banks.
I donāt think Majid cares much TBH. He is earning Ā£600K a year and gets cheap options for ārunningā a company from his kitchen table on the other side of the world. Oh and he has a Canadian President that runs the show in Canada. Majid dusts off the old slide deck, gets a train to London and does an āinvestor presentationā twice annually. Easier O&G CEO gig in the world. All for Ā£50K / month pay. Daylight robbery.
The last 2023 AGM was in June so I do not think itās the AGM. Perhaps they have been approached to be taken over? Who knows.
Tony, ask yourself why did both parties go through all the effort to transact on i3ā one Clearwater well in Martin Creek. It is very likely that i3 are in the process of selling their Martin Creek acreage to Tamarack Valley, $TVE. Recall last week RNS where company stated that they are in the process of disposing certain non-core assets and that they will update the market in March on this.