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Coldjoe seems to be increasingly negative of late. Given he claims to have 110k shares at a 49p average I’m not sure why?
As far as I can see, and from what others are also saying, everything seems to be on track. Of course even if there is a delay of a few days (lets say until the 20th August for example) can you tell me how that impacts the 90% chance of success or the amount of oil in the first drill???
If you are not happy sell up. Simples.
LOL. Why? It doesn't affect I3E's drilling programme. Contact the company if you want clarification.
It really depends on the drilling order mate.
I am hoping for it to tag at least 70p but it all depends on whether the drill the appraisal well first (which is yet to be confirmed via RNS). If so it could go higher.
It also depends on sentiment and getting these orders out of the way as currently the SP seems to be being played with.
There appears to be orders being filled and shares exchanging hands at an agreed price...only when this is done will they allow this to move up.
This has consolidated nicely here. The volume of trades is huge...I feel we are on the cusp of the next leg up.
Exactly mate...the moment I try to trade this is the moment it is likely to do a 20% rise in a day. Best thing to do is wait it out...these game can’t continue for ever.
We have Oil Barrel and AGM next week so some sort of news and update is due ahead of the drilling next month!
Hi Edd,
In that case please don't invest here! :)
All the best.
Hi Edd,
In that case please don't buy in here. :)
All the best.
Even if share count is 144 million on first oil the point is...that we will have first oil! And this would be valued at way more than a MCAP of £144 million / £1 per share (just look at other UK NS oilers producing 20K Bopd for comparison).
This is from a GMP FirstEnergy ? UK Energy morning research package on June 4, 2019
i3 Energy plc1 Speculative Buy I3E-AIM
Target: £1.80
Fully funded for very high impact drilling
Overall, our Unrisked Value for the programme is £3.74 per share for an overall Unrisked NAV for the company
The first drill is an appraisal well with a 70% CoS. I’d say there is a pretty good chance of them finding oil.
90 Million shares in issue so based on that comparison you are looking at a potential SP of at least £2-£2.50.
As I mentioned earlier HUR today announced 20k bopd and their MCAP is £1 billion!
We also have agreements with BP who are also invested!
This is why it think it is undervalued and why I can see it going much higher!!
Not sure where you are seeing that....Bid is 47 - Ask is 48. Up 3.5p.
There will be a presentation at the Oil Barrel conference on the 23rd June. Expect to see some further interest there (and in the run up to it).
I'm sure we will also get further updates re the drill, rig etc given that we are only weeks away from drilling
For those who follow Technicals this was given a BUY RATING yesterday (on the British Bulls website).
So in summary:
1. Technical signals look good
2. News rich period with oil barrel conf. in late June
3. Drilling in approx 6 weeks
4. Targeting 500 MMbbls STOIIP 100% owned by I3E
5. 70% CoS
6. MCAP of only £38M
7. FULLY FUNDED
8. Oh...and BP are INVOLVED!
We are approaching 50p and there are a nice steady stream of buys and I can see this going much, much higher.
By way of comparison, HUR has announced 20K bopd and has a MCAP of £1 Billion. I3E are targeting same 20K bopd via their appraisal and have a MCAP of £40 Million...this just shows how undervalued it is and where it can go!!!
Aside from the Junior Facility being done there are three bits in that RNS that stick out to me:
1. Drilling as early as MID-JULY!
2. Agreement with BP! Simply WOW!!
3. Fully funded for 3 drill campaign targeting STOIIP of over 500 MMbbls which is 100% owned by I3E!
The first well is an appraisal well with 70% CoS! Ridiculously low MCAP IMHO.
I remember ShareProphets / TW being reluctant about this share until funding was sorted (and suggesting to buy at 45pish when funding risk was resolved)...well here you go!!!
Good Luck all!
In the absence of news MMs will just move this up and down at their will until there is appetite for the stock.
This could present another buying op as there is no reason for the drop (as far as I can see).
- Drilling in approx. 8 weeks
- 70% CoS unlocking approx.
- 314 MMbbls of STOIIP
- MCap of only £30M
This is a great Risk v Reward play here and once sellers finally dry up this will move big time IMHO
And there's your delayed buy...
Unfortunately, in the absence of news this wont move until MMs have finished their fun and games / completed the order they are working on.
It’s now become all too predictable.
Market markets are working an order at an agreed price and the nail the order is complete the will keep the price where they want it.
Can’t go on forever and once news breaks they will have no choice but to let it go.
On the plus side, when we do have news there will hopefully be less in the way of sellers to hold this back.
Agreed mate.
It is being kept in a range for some reason (I suspect there is a transfer of shares here at a set price). However, this can't go on for ever.
I think once it closes above 38p we should see a crack at the 40's...and with news due any day now that could happen sooner rather than later IMHO.
What RNS??