Member Info for jollygoodya

Agree bots, I think it's an excellent deal. Which will benefit I3E and those who are genuine shareholders.

A deal of this magnitude deserves a proactive interview, anyone have any info on this? If not BoD sort one out please.

Tomhuk, nice summary and that's my overall take on it.

Tony, majority (not all) of companies do work in a similar manner. Level footing for pi's doesn't exist. But the market nearly always gives us a chance to buy in close to II entry point in the market. So we just sadly have to live with it. Part and parcel of this business. Am not gonna dwell on it. The deal is fantastic for I3E imo. The BoD are executing a publicised strategy here. It's in the RNS'.

GGG, I hear all the sentiment..the deal was closed extremely fast, suggests to me to ward off other parties. Seems to me Serenty news inbound soon too. However no one can deny the value this deal brings to I3E and ultimately all shareholders. Manner in which done, you have a fair pointed. Shafting PI's to some degree yes. Overall? An excellent deal for all imo.

Last post was to Tony.

I think we are broadly in agreement. I personally dont agree with pi's getting shafted sentiment here. The deal is very good interms of immediate cashinflow with very little cashoutflow associated. Comes with full supporting infrastructure to sustain operations. (Turnkey springs to mind). MOST importantly adds signifcant reserves , pain for pi's sp wise yes. But overall an outstanding deal for the bucks for I3E and all shareholders.

Next 12mths will add net $31m (usd) to cashflow. I3E now getting into valuation metrics based on PE and fcf multiples..still amazed at the pace of the bookbuild. Have limited the dilutive impact on my holdings by adding more at these prices. Dont care about primarybid etc.

Tony, whilst I dont disagree that there is that impact, my view is that overall value of I3E will be subject to a lot of variables and not necessarily as simple as straight mathematical calculation in reality. This deal will add signficant value to I3E overall. Taking a simple metric on assets is too premature atm imo. The resrves of the company have increased substantially and so will the value less the dilutive impact. Am more focused on cashflow generation, sustainability and growth. Value of I3E will rise in due course.

Strong net operating income to support consistent free cash flow yields - Next twelve months ("NTM") estimated net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) of US$31 million supported by a low-decline production profile and minimal required annual maintenance capital provides predictable long-term free cash flow to support i3's planned dividend distribution policy

Tony, you need to adjust the serenity sp taper value adjustment and increase the overall I3E sp value with the new Assets/s and the production capacity and additional reserves thereform and add to Serenity for a more fairer sp value overall and I think what bots was implying that despite the dilutive impact, I3E is a bigger more valuable company and so not really dilution in that sense?

Fyi, L2 looking steady and MMs working to buy side bar 2 of them atm. Well done those who bought in on the open market and/held their ground.

Bots good points. I see the current sp as temprary blip. I3E is different kettle of fish and if you look at the deal on it's own, it's been done at a very beneficial cost level. I3E have previously stated that they're actively looking at more Canadian assets, here is one..albeit quicker than I thought!

Tony some of your points and in particular the decomissioning liability was dealt with in the RNS and I think quite well (in the npv aspect).
The others are indirectly answered by the nature of the deal and the longerterm value on offer.
I however am of the opinion that I3E will kick past 20p sooner rather than later. There are a fair few catalysts in the offing. I'm particularly happy about the immediate cashflow impact of the deal and that it increases longevity through a 150% known reserves increase. There are also unknown increases in production and reservesas the accreage is significant. There are some significant targets 20 or so (by memory) in the new acqusitions and numerous workovers indentified. Am expecting a heavy news flow period from hereon. We now dont have to worry about funding and we will have signifcant cashflows. For me the deal is hugely transformative and indicates a seismic shift. Just wondering what will happen with Serenity now?

Pls excuse typos.

Bwana agree. Us pi's need to sit tight and not panic sell. We nearly always get a chance to partake via open market abd today was no different. I3e is for the patient investor atm. A lot of updates coming from existing Canadian assets, divis, Serenity. Remember this bolt on will give immediate cashflow to I3E and build condierable reserves. Am a buyer at these prices..and no wonder the book build was superquick.

Bwana, the speed at which the bookbuild was closed as well as the primarybid offer, suggests I3E arms were bit off by the demand from the IIs. Am superconfident in my holding with a whole load of new shares. Looking forward to the divis. The II's are shrewd barstewards, they got a fab deal and divis too boot, basket cases!!

At least the base is set at 11p. Anyone whol sold robbed themselves. This is a massive deal. Now let's be having a Serenity upadet. IIs aren't stupid. They'll want multiple returns and that's what us pi's should target too. This deal will strengthen I3E's hand in Serebity FO negotiations as we will be in a position of financial strength and less susceptible to being hardballed.

Spot on Tony! what do you make of the acquisition and RNS today?

Ok, 11p placing. Book build done!! Must have had huge interest from IIs. I've added more now :))