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Little or no*

Naturally they will have to land funding but I am confident it will come, but any partnership or credit agreement of this size will take a few weeks to finalise. As the CEO / CFO hold c 35% of the company i am very confident the deal will be done with minimal or dilution as they stated. Perhaps a small raise to cover interim working capital but above that, if there is a deal on the table to fund wells then there should be no need to equity raise.

The $200m includes an appraisal programme also, Liberator can be brought online for much less than $200m. All we need is LP1 then cash flow is not an issue. They also had a $25m line of credit available to them from a an existing investor I believe, so in the worst case they are not looking for $200m in funding. A lender or creditor would much rather lend toward a low risk Liberator development rather than higher risk appraisal programme so I dont see Liberator funding being an issue with the rate of return it provides.

I wouldn't trust Mr. Oils word as far as I could throw him, especially when he's openly bickering with JW, and using i3 as ammunition. I'll trust in my instinct and the facts presented on i3 before taking a fools claim seriously.

Target is 125p close of play Friday. :) .......unless funding arrives that is....

The initial funding agreement for the 30th round was for the 30 day well, they have stated they already know its location and have worked it up. Subsequent seismic etc is not part of this, and may not be necessary unless they want to expand further leads. The reason the funding hasnt officially landed yet is because other parties have made offers to fund the greater picture. Which is turn requires back and forth negotiations, perhaps even getting multiple parties on board. Not an easy commercial task. At present everything is on track in my mind and expect a Q4 spud. :)

Roy your confusing me? haha

To get a successful bid award for a "Firm Well" the company would of had to display a firmly financed route to fund said well. Which after reading today's RNS again is already in place in the form of a line of credit from an existing investor. However....if the JV partnership comes into play it sounds like this could supercede that initial agreement, and free carry Liberator Phase 1 & 2. There also exists the option to continue with the fully funded appraisal of Phase 2 as per the original agreement, then use the JV to fund Liberator Phase 1. It very much seems like there are options to be had and the BoD are trying to work them in the most efficient and value accretive way possible for shareholders and the company. Remember the CEO and CFO hold a combined c. 35% here....the skin in the game factor is huge. This is their retirement and legacy...

Took 60k.

Are there warrants driving this down?

Today. Some sizeable block trades going through on highs and continual buying pressure. Hopefully we get a late afternoon push to send us north of 115p...

They could still achieve that depending on the current state of contracts or agreements in place as the long leads are purchased. I have read somewhere in the literature they do have agreements with rig contractors already in place. I will try dig them out. However....they may change the drilling schedule if they are fully funded... Start with the quick and easy appraisal well before drilling LP1. If they don't need the immediate cash flow this gives them extra time to work up the data from A1 while they drill LP1 and LP2, so that they can immediatly move to Phase 2 after. Synergies and experience using the same contractors goes a long way in performance and efficiency. Just a thought but IMO a well could be spudded late Q3 / early Q4.

Let's keep momentum and a steady sp build into the next couple weeks. Funding could land any day. I keep reviewing the CPR's and that's all the confidence I need to understand why an institution or partner would be trying anything to get a piece of the action. Excellent scenario for both parties here, whomever i3 choose to partner with.

Very exciting indeed, they could get it spudded Q4 though quite easily, if funding lands shortly as we anticipate, a Q3 LP1 drill would see the Appraisal very likely for Q4 as set out in their presentation. It's a quick appraisal as well so the news will come thick and fast once the rig is on hire.

Pop Corn at the ready all the way to funding and beyond. The problem is, when funding arrives that is really just the start of the party, with 1, possible 2 wells planned for this year when I3 will be cash flow positive, profitable and looking for further development...Could turn into one of they very rare 10 baggers for those with patience...

Boards arent for cross ramping Croz, private message... ;)

Sticking to your guns Brooko and giving others (and me) and chance to add more, wont't argue with that. My lowest buy here was at 29p but haven't sold a penny. Been topping up along the way as the project has become significantly de-risked, hence my purchases today. Hope to see you again soon.

Should see a steady rise toward funding IMO over the next few weeks. But as we know, news could land at any time. One of the great AIM success stories just about to begin.

Here for me. Was buying in the high 20s, low 30s, low 50s, then took another tranche at 60 the other week. Here to make life changing money not pocket change. Liberator Phase 2 could be huge. Roll on funding and a possible Q4 appraisal, by which time LP1 will be online and we will be cash flow positive.

Beginning. Funding will blow this wide open. �3 near term target.