We would love to hear your thoughts about our site and services, please take our survey here.
Has been oversold and we have a sea of blue today and some nice buys.
Hopefully the bottom is in and we can move off these ridiculous lows.
Any (overdue) news and this could do very well from these levels.
Multi drill summer campaign only a couple of months away.
Good luck all.
To be fair, they have been stating drilling this year since 2017!!
To be fair, TW has not mentioned placing at all. All he has said is he feels that there is "material uncertainty in that company has to secure debt. If it can't get that sorted then company is in trouble. Clear risks. Wouldn't buy until finance secured."
It is nothing that we don’t already know and has been countered by emails from the company that all is on track for the summer drill.
If there was a placing you can bet TW et al would be singing from the rooftops.
Jittery PIs / false rumours and margin calls maybe responsible for today’s drop IMHO
Placing price is probably something like .075p.
The rise today is probably to let forward sellers out. Suspect the RNS will drop on Friday.
Same old, same old.
I have a feeling that a placing is being worked as I type. The trading / trading range also seems to reflect this (although we might see one last pump attempt to sucker people in).
I suspect the placing price will be sub .10p and sincerely hope that placees make sure that Arthur agrees to reduce salaries and cash burn before anyone hands him another (underserved) penny.
As an aside, it may be worth taking a look at MRS and how the PI's are now taking the BOD to task...surely there is a case for Arthur et al facing the same sort of shareholders revolt?!
Not sure why?
I suppose it can only mean one thing...well done again Arthur! That's another 6 - 12 months salary sorted.
Fully appreciate that there will be many (placees or those that took the OO) who are happy with their 10 - 20% and then move on to the next placing and this is what makes the market. It is also good for us to consolidate at each level and build a solid base before the next rise up.
I also think that there are a fair few that can see the value in this and, as you say, there will be plenty of people who will want in nearer the 15th July which will more than likely mean they will be paying a higher price.
Sometimes, the hardest thing to do in the markets is to sit on your hands and do nothing (speaking from experience!)...for me this in one of those times to let I3E do its thing.
Good luck to all.
I'm surprised by the sellers but I for one am very pleased with that RNS. We have:
> Rig contracted for Summer drilling campaign
> Key drill equipment secured
> Site survey completing this week
> Drilling due to commence approx. 3 months time
> 3 well drilling campaign
> targeting reserves of 314 MMbbls of STOIIP
> Seeking to confirm Serenity estimates of 197 MMbbls of STOIIP
> Production well in 2020 at potential combined rates of approximately 20,000 barrels of oil per day
> Successful appraisal and development of both Liberator and Serenity, management believe i3 could potentially produce more than 200 MMbbls from its current licences
There are approx 90M shares in issue and BoD and Instis hold approx 40% of these. Free float is therefore approx 56M and the current MCAP is a paltry £38M.
This has excellent Risk v Reward and after many O&G disappointments on AIM recently I think this is one which could be game changing. I fully expect this to build up as we approach the drill (12 - 15 weeks away). There is no way the MCAP is only worth £38M IMHO.
As always DYOR and good luck to all.
I'm surprised by the sellers but I for one am very pleased with that RNS. We have:
> Rig contracted for Summer drilling campaign
> Key drill equipment secured
> Site survey completing this week
> Drilling due to commence approx. 3 months time
> 3 well drilling campaign
> targeting reserves of 314 MMbbls of STOIIP
> Seeking to confirm Serenity estimates of 197 MMbbls of STOIIP
> Production well in 2020 at potential combined rates of approximately 20,000 barrels of oil per day
>uccessful appraisal and development of both Liberator and Serenity, management believe i3 could potentially produce more than 200 MMbbls from its current licences.
I would rather profit taking be done and dusted as soon as possible and that we consolidate with each rise.
The drill was originally planned for June but now more than likely July. That is 3 months away. This will be much higher at that point IMHO.
Even if cash ran out at end of May it would suicidal for the company to place in May.
Pieman is probably doing placing rounds right now if he hasn't already done so. If a placing is coming (and it more than like is) it is days / a couple of weeks away at most IMHO.
Friday's are usually bad news RNS days...
I am struggling to believe that there won't be a placing. All the media interviews point to this. It is Arthur's modus operandi - the only difference is that his pre-placing pumps are falling on deaf ears and the market is used to his tricks (a leopard rarely changes its spots!).
The only question then is, is what price will the placing be at? When the SP was at .20p all the suggestions were that given the amount needed, Arthur's previous form, the lies etc etc the price would be around .10p. The price is now at .12p so any placing is likely to be sub .1p I think.
Let's not kid ourselves, Arthur is not the friend of PI's and does not give a flying monkeys about us / what we think - if he did he would have reduced salaries / cash burn. Arthur therefore does not care about how dilutive any placing is likely to be or what price it will be at - his only concern will be securing funds so he can carry on living his lifestyle at the expense of shareholders. His arrogance, incompetence and sense of entitlement knows no bounds!!
Good luck to all.
To be fair, we don't need a JV partner right now mate. We have everything we need to move forward with the drilling by ourselves.
A JV may come at some point but I'm happy for it to be after the first drill as, if successful (which stands at 70%) then we will be in a far, far stronger negotiating position.
Drill is all that matters now and we will be drilling in approx 3 months.
Risk / reward here is staggering! We are looking at the best O&G opportunity on AIM in the coming months.
Unfortunately all that confirms is that they placing is well in progress and Arthur's pre-placing ramps are failing miserably.
There are no attempts to reduce cash burn or overheads. I would be surprised if he gets the placing away at .10p at this rate. The city will want more than its pound of flesh given Arthur's previous ifs, buts and failed promises.
This could have been so different had it not been for Arthur.
EB, the recent drop I think has been a false one in that I think it is due to:
1. The end of the tax year / start of the new one so PI's locking in losses, adjusting portfolios, ISA's etc
2. PI's who took the OO might have sold their allocation of shares at higher levels and bought them back in the OO at 37p
The above issues are / will no longer be relevant in a couple of days and the SP can build from these levels. We are approx 3 months away from appraisal drills with approx 70% CoS. These will be transformational.
The Mcap is low given the risk / reward. The SP will move up as we approach the drills IMHO...this will go from pennies to pounds.
Good luck all
Why would you sell at .44p though???
Those could be sells - look at the time stamp as from an hour ago.
I think they may be nearing the end hence the more aggressive selling.
Looks like seller(s) just decided to off load at whatever level.
Expect to see some massive delayed sells (appearing as buys no doubt)
I would ignore Profit_proft. This poster was trying to ramp RMP on the day of the duster and suggesting that the were still going to get oil out of the ground!
The word clueless comes to mind.