Member Info for Jungmana

Worth reminding from Finncap;
Xeros has developed a polymer-based technology that has been proven to save vast quantities of water in water intensive industries such as garment processing and manufacturing, commercial & domestic laundry. Given that the bulk of these industries are in highly water stressed regions such as India and China, the scope for commercial success is clear.
With £130m invested to date, BASF as a supplier and some of Asia’s largest washing machine makers either taking licences or in discussions, Xeros appears to be at the inflection point. We initiate coverage with a price target of 4p/share.

In January the market cap was about GBP 50m, July was about GBP 25m and today about GBP 9m ( with cash of about GBP 7m)
Company on more stable ground and a lot advanced towards generating good revenue.
Too undervalued and imo should rebound rapidly once overhang is cleared.

Worth reminding from Finncap;
Xeros has developed a polymer-based technology that has been proven to save vast quantities of water in water intensive industries such as garment processing and manufacturing, commercial & domestic laundry. Given that the bulk of these industries are in highly water stressed regions such as India and China, the scope for commercial success is clear.
With £130m invested to date, BASF as a supplier and some of Asia’s largest washing machine makers either taking licences or in discussions, Xeros appears to be at the inflection point. We initiate coverage with a price target of 4p/share.

We want to see a 50% cut in director pay not some small reduction in tea, biscuit and entertainment.
BOD pay in total is about GBP 600k annually.
That's too much for a cash strapped tiddler

AGM tomorrow to approve the issue of about 130m placing shares.
Could be an opportunity to buy more cheaply next week

ï‚· Given the large potential upside but increased risk to the story, we
maintain our Speculative Buy rating with a target price reduced to £0.90
per share, pending further visibility on the next steps. We note that
Serenity could be of a lot of value to RSRUK/RockRose Energy.
What to drill? While i3 indicated that development wells were drilled
successfully in 20’ net pay in the area, this is probably not what the company will
look to do next. The company would like to drill multiple wells at Serenity and
Liberator. However this will be subject to funding. Appraisal drilling at Serenity is lower risk and could enhance any unitisation discussions with RSRUK/RockRose.
The subsequent development of the field is however more in the hands of
RSRUK/RockRose than of i3, if the first phase is developed across existing RSRUKoperated infrastructure to the south.

GMP write up:

Drilling setback but still large resources
ï‚· The 13/23c-11 well (A2) has encountered 220 ft of Captain sands with
20’ MD estimated to be above the oil water contact (OWC). This
compares with expectations of 70’-80’ of sands being above the OWC at
the crestal location.
 While this will have negative implications on Liberator’s Phase I
volumes, i3 believes that the small amount of sands above the OWC at
the A2 well location does not mean that the net pay has decreased in
the west of Liberator. This western area, where the sands thicken, holds
the largest amount of resources, with 119 mmbbl prospective resources.
ï‚· The main risk in this area was around oil migration. i3 believes that the
result of the A2 well somewhat reduces this key risk.
ï‚· The company is now considering its next steps, which could include
further drilling in the western area of Liberator and at Serenity.
ï‚· Given the large potential upside but increased risk to the story, we
maintain our Speculative Buy rating with a target price reduced to £0.90
per share, pending further visibility on the next steps. We note that
Serenity could be of a lot of value to RSRUK/RockRose Energy.
What to drill? While i3 indicated that development wells were drilled
successfully in 20’ net pay in the area, this is probably not what the company will
look to do next. The company would like to drill multiple wells at Serenity and
Liberator. However this will be subject to funding. Appraisal drilling at Serenity is lower risk and could enhance any unitisation discussions with RSRUK/RockRose.
The subsequent development of the field is however more in the hands of
RSRUK/RockRose than of i3, if the first phase is developed across existing RSRUKoperated infrastructure to the south. Drilling a well in the western part of
Liberator (A3 well) would go a long way to derisk the 119 mmbbl prospective
resources in this area but is riskier.
SPEC BUY recommendation with target price of £0.90 per share
Pending further details on the new volume estimate, we have moved the Phase I
development into the risked upside category of our ReNAV. We attribute a 35%
chance of development to this area as it will probably require a new appraisal
well in a riskier area of the field. Overall our ReNAV has been reduced from
£1.46 to £0.88 per share. Our target price has been set close to that level. Our
valuation assumes the entire conversion of the loan note into equity.

Majid Shafiq, CEO of i3 Energy commented:

"The discovery of the Serenity oilfield, a potentially very large oil resource, is a transformational event for i3 Energy plc.

We now have proven oil in a second structure on our licenses. It is the culmination of three years of detailed geological and reservoir analysis and validates our regional model for the Liberator and Serenity oilfields and neighboring structures. We will now integrate data from the 13/23c-10 well into our geological modelling as we develop an appraisal and development plan for Serenity, which we believe is connected to the undeveloped Tain oilfield.

Worth another listen;
https://youtu.be/VTNKknals_A

The Serenity 13/23c-10 well was successfully drilled on the Company's 100% owned Serenity prospect and is an oil discovery, with preliminary well results that are consistent with i3 Energy's pre-drill estimate of 197 MMbbls STOIIP for the entire Serenity closure within the Company's licence area

Posted by unlikely;
Looking again at the RNS, I am encouraged by "Initial evaluation of the Measurement While Drilling logs indicate that, at this location, circa 20 ft MD of the Captain sand with oil indications has been found above the expected oil water contact (OWC) of 5270 ft total vertical depth subsea".
I interpret that to mean the OWC was found at the expected depth. As the original CPR states reservoir thickness between 20 to 60 ft for Liberator, I see no negative implications for the field as a whole, just mildly disappointing that this particular location does not have an oil column towards the upper end of the possible range.

Where did you get the your 80ft From?
The original CPR states reservoir thickness between 20 to 60 ft for Liberator.
The preliminary results is at lower end of estimate but similar to Dana petroleums find which was 24ft.

This well was a hit NOT a miss. Preliminary results similar to Dana petroleums find. Proper results Friday/Monday is my guess.
All should remember we have serenity too which will be developed together with Tain. Worth multiples of today's market cap.
Let the scumbags burn

What value for serenity which is completely independent of liberator;
Majid Shafiq, CEO of i3 Energy commented:
"The discovery of the Serenity oilfield, a potentially very large oil resource, is a transformational event for i3 Energy plc.
We now have proven oil in a second structure on our licenses. It is the culmination of three years of detailed geological and reservoir analysis and validates our regional model for the Liberator and Serenity oilfields and neighboring structures. We will now integrate data from the 13/23c-10 well into our geological modelling as we develop an appraisal and development plan for Serenity, which we believe is connected to the undeveloped Tain oilfield.

The leak by a mole was this liberator well was a duster like the first pilot well and happens the mole was wrong.
They found oil but had to rush an rns without completing the logging as were forced to . The preliminary results is very similar to the results of the original well drill by Dana petroleum.
Imo the share price should be a lot higher as we waite the final results.
We also already have an exciting find in serenity which is worth multiples of today's market cap.
A no brainer at 30p imo.

This a quote from Boris Johnson speech at the Convention of the North in Rotherham on 13th of september. You can watch the speech on YouTube for yourselves ;
" Right next door, at the Advanced Manufacturing Research Centre, Xeros Technology are producing the world’s most environmentally friendly washing machine".
This tiddler is getting noticed.

Xeros has developed a polymer-based technology that has been proven to save vast quantities of water in water intensive industries such as garment processing and manufacturing, commercial & domestic laundry. Given that the bulk of these industries are in highly water stressed regions such as India and China, the scope for commercial success is clear. With £130m invested to date, BASF as a supplier and some of Asia’s largest washing machine makers either taking licences or in discussions, Xeros appears to be at the inflection point. We initiate coverage with a price target of 4p/share.

Worth reminding;
Mark Nichols, CEO of Xeros, said:
"Xeros' products help reduce the increasing pressures on the world's supply of water. Testament to this are the development and license agreements we have signed in India and China, the world's two largest water users.
This funding, provided by both existing and new shareholders, will enable us to complete our full migration to becoming a high-margin royalty business delivering sustainability and cost benefits to our licensees' customers.
Having completed much of the development and protection of our products, we are now well-positioned to continue the commercialisation of our intellectual property with major OEMs across multiple large-scale markets."

About 18 months back the market cap here was about GBP 130m ( had about 99m shares at share price about 130p).
Today with increase in shares to 783m that equates to about 17p share price.
Imo could get back to that level (17p) over next 12 to 18 months. The expensive research and development phase is all done.
The potential is huge.

This a quote from Boris Johnson speech at the Convention of the North in Rotherham on 13th of september;
" Right next door, at the Advanced Manufacturing Research Centre, Xeros Technology are producing the world’s most environmentally friendly washing machine".
This tiddler is getting noticed.