Member Info for jollygoodya

Tony:

"Otherwise it's almost like an off the cuff statement".

Please read again. I USED ALMOST LIKE, didnt say it was??

Your quote:

after all you have been complaining about lack of growth in production - so should they not be focusing on this ?

Of course I agree. Is it wrong and unfair to think about time frame AND at what commodity price?

Tony:

- I thought you were all for aggressive Capex spend.

Answer:

Not suicidal levels and I'd be monitoring commodity and return on capital and reserves replacement, bearing in mind divis too.

Tony:

Firstly what higher prices are you talking about ?? When they eventually made the Q1 announcement - it was clearly based on lower pricing than forecast.

Answer:

Take them rose tinted glasses off. When they started drilling oil prices were far higher and we were getting a much higher return. At this point reserves should have been building up fast. You'd have internal management data monitoring reserves build up vs divis paid and expenditure. So you'd adjust accordingly to falling prices. You dont need to wait for a prolonged period.

You're glossing over the time frames.

Lets hope the next update is strong given, we're well above $72, any comment on this point?

I3 has prospects in the Clearwater F sand at Walrus and Cadotte however these areas are more exploratory in nature.

We do have plans to drill exploratory tests on these blocks in the future."

Leading on perhaps, they should give time frames. Is it in 2yrs, 5yrs, when? and at what commodity price levels would it be more appropriate. Otherwise it's almost like an off the cuff statement.

We need action, not talk. Many on the BB (including me) gave them plenty of credit when the deals were announced and the sp climbed (along with commodity prices). So only balanced they get some flak too. Lets see some real management when the chips are down. Let's start with a nice update on what we have done over and above the last disastrous update. WTI is well above their magic $72. Clearly even at higher prices retained reserves were not being replaced, thereby confirming less was being made then what we were led to believe.

Agree Panamapete, however emailing them will (hopefully) give them a sense of shareholder sentiment ( if they dont already have an idea that is). Still cant figure out reluctance to update us on drills and why they cannot "cherry pick" from the much vaunted vast acreage ( which btw was alluded that they will do, target the low hanging fruits?)

Email the company. No one on here has a clue.

Https://www.reuters.com/business/energy/oil-prices-set-sixth-weekly-gain-producers-pledge-output-cuts-2023-08-04/

Future looking positive. Need BoD to provide a nice surprise update and build on momentum. Follow the tweet up please. Surely makes sense to boost production.

WCSB, I understand what you're getting act, focusing on inflationery value of $79 back then to now is a bit of a 'red herring'.

In a simplistic example, sometimes value placed on a business using EBITDA x multiple of 2 or 3. Adjusted for specific browning points inherrent to the business model, quality of assets, cost structure and infrastructure etc where you might get a premium. However the over-riding principle is the same. 'Peak to peak' is already factored. Reason I quoted $79 as a guide comparator is if the oil was completely out of quilter and low and the business not viable, you' d get it for peanuts, as I3E did.

WCSB, not necessarily how the market will price a deal. In strict monetary terms due to inflationery rises yes $79 dollar will be $110 due to purchasing power, however a deal will factor in current oil prices and value reserves and the quality of the assets multiply by 'X' as agreed by the parties (to put it simplistically). So it will be a broadly similar factor irrespective of the years. You cannot say due to inflation it will be 'Y'.

Fairplay to you Stas, as oil prices in 2010 were $79 odd and there were also economic woes too. (Only didnt have a pandemic like covid prior to). So a very decent comparator.

August hols, thinner volumes. So sept/oct should be far better months for stocks generally. Hopefully, oil/gas can continue up (more oil up than gas likely). Meantime would be nice to get a production tick up. Let's not make it easier for low ball offers (if there are suitors lurking).

I think so too vernetles.

My preferred option is a bid.

Https://www.energyportal.eu/news/i3-energy-plcs-loni3e-fundamentals-look-pretty-strong-could-the-market-be-wrong-about-the-stock/119645/

Valuation conundrum:

To realise a higher value, would need more capital investment in unlocking existing acreage. In the ground values are far lower in general. Ironically at current prices would make sense to generate more revenues, a decent update would help.

45p in current scenario, maybe far fetched. Stake building at current prices means they may well take 25, closer to 30p will do it.

Let's see if management are bold enough to pump more and make suitors pay top dollar. I see people do have time suddenly.

Excellent, I await your snail pace response. So you do have time to read and reply!

I couldn't careless what inane response you give. Btw took literally 2mins tops for those average post calc. Of course at your pace maybe a lot longer.

Glad you had a laugh. PMSL.

VMAX,

Stop boggling your mind as it may not be good for it. Let me clear your fallacy/misconception and clarify your erroneous post.

I'm very surprised that in "over 40 years of trading", you have not realised that pi's have scant information other than what is historical or after the event Thus:

1/ Everything is in a hindsight perspective as we are not at the cutting edge of the business.

2/ We can only react and form opinion from the information provided and look to see what, why, where.

3/ in 40 years are you seriously telling me you never came across rogue management, Enron, Afren plc, lot's more aim lifetstyle companies? So one tries to see if anything is a miss. Blind trust not good.

4/ In 40 years you have not worked out chat on a BB cannot lose you money but bad management can. Clearly the sp went up (due to market forces) when Tony and I had our spat.

Erroneous:

1/ Where on earth did you get that I have 6 companies? Provide evidence or are you unable to comprehend what has been posted?

2/ Has the time to post so much:

- 77 posts in 30 days, hardly record breaking.

- infact you have posted an average of 73.93 posts per month over the time of your current moniker has been with LSE and mine is 68.25 per month?

- I reckon you're a lot older than I hence maybe you have slowed down on your posts (maybe I'm wrong)

- based on your comments, you clearly have enough time to read BB posts (contradicted yourself) but not necessarily comment?

"I have a few companies my self but you will never see me posting in working hours as my time is more important elsewhere"

1/ I could not care less what number of companies you have nor what you do with them or how you work them.

2/ I prefer to work on my businesses and not in them. (As a business person, you will know what that means) and I have set up a structure to facilitate that.

3/ With time one slows down and cannot do as much as before. Am sure you get the point.

4/ Sounds a bit lamenting that you dont have enough time..

"I have been investing for over 40 years, way before AIM and only since the conception of a BB has it become a problem , with people supposed to be invested that shoot down their own investement."

1/ Before the "conception" of a BB. You couldn't publicly question your investment like on board, doesn't mean you did not do it or thought it.

2/ your pointing out the downside of a BB, however you cannot deny the benefit that you have had of the use of a BB (9612 posts say so), heard of rough with the smooth?

3/ have you never questioned your investment after a management balls up?.How do you think quite a few businesses go bust? Mostly due to mismanagement.

Btw if you like, I can get one of the good people in my consultancy business to help your business:

Review procedures, internal controls, inefficiencies, cost analysis, management structure, lead generation, TIME MANAGEMENT, to help you with your time issue.

To quote your quote.

Lots of twisted peo

We now have a cross on a shorter time frame. A few times on the historical charts, sp has reacted very nicely.

Coupled with O & G prices moving in the right direction we should gust upward a little and come sept onwards, should push higher till winter end (unless it's a mild one).

On another note; when Tony and I have a pop at each other sp seems to like it (lol, tongue in cheek).

Seriously, at current prices we need to crack on. Not necessary to spend more of the debt but use excess cashflow from OP prices above $72 mark which BoD have indicated. Piecemeal approach, whilst maintaining the status quo on cash and debt balances. Need a steady ship dead ahead and delpoy excess cash inflow. If need be deploy a portion of the debt cash.

100% agree professor. Gotta live with the wild swings. Dips keep getting gobbled up.

"Personally, I've never given a real reason when I left a company." - perhaps your the eeydiot - have you considered that?

Maybe it's more applicable to you. Despicable thing to say about a fellow BB poster. You're hitting lower lows in a downtrend.

"WCSB, the assets acquired were frozen (I think by vendor) neat little trick is I3E spent heavey on a capital prog. Which they have now curtailed. So appears the trick has reversed." - what the f@ck does that even mean - perhaps jolly can explain !

Not my problem if you're dim and dont understand. I suspect you do understand but dont on the BB.

You're little snide remarks are immature.

Which entity with assets (not just assets) will give you a very nice 60% equivalent of the PREVIOUS dividend? Are you in the know or making it up? And how much will it cost and how much confetti raise?

You're looking to destroy shareholder value and yet people agreeing with your garbage dont understand at all.

"So even if they bought less than top tier assets - if it came with a large tax pool - that’s £13m straight to free cash flow - that’s covers about 60% of the previous dividend right there".

Tony clear you're naive or clueless and likely both. Yet you only look at one side of the picture.

How much equity/dilution? Will it not drag the sp down by the level of dilution. Tax losses may not necessarily follow unless conditions are met. With an equity raise and a fixed dividend what will happen to the yield for shareholders. Surely, if you're spending money for immediate cashflow, given the economics under current prices makes more sense to expand organic operations and prove up more of your reserves which will serve to inform the market how valuable your assets are.

Makes more sense to drill the assets you have, rather than erode the debt cash buffer you have and dilute the hell out of the company.

Fully agree with bottomsup. How the heck you come up with such stupidity is beyond me.

WCSB, the assets acquired were frozen (I think by vendor) neat little trick is I3E spent heavey on a capital prog. Which they have now curtailed. So appears the trick has reversed.

Not necessarily true about tax losses from acquired assets. All depends on how the deal is structured and whether the entity with tax losses is being acquired. Furthermore, if the entity still has tax losses begs the question are the assets any good? Just saying.