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This unlocks . 10% more volume from Liberator alone and an optimal LP2. So we can add another $20m straight away to the NPV alone. :) happy days. This is just the beginning.

the 2 heaviest weighted assessment criteria on the OGA score sheet are time to drill and time to FDP / production. We know i3 want to drill by the end of this year or early next year after LP1 is in the ground and they already have a draft FDP for the appraisal target from their RNS release(s). All bodes well for successful bid(s) i say. :)

Depends how the mm are feeling i think. Seen people take similar quantities 10 x whats on the book and nothing moves...

You'll know soon enough mate. Nothing we can do now until tomorrows session. :)

If people cannot interpret the words "23rd of May" I am quite worried about who else is investing haha. :P

"23rd May" .....

They will announce at 00:01 tomorrow. Other wise their tweet would be incorrect. Why would they wait an additional 24hrs...

I'd expect 2; 1 summarising the results and plan ahead of the 30th round results and another setting out a timeline to regarding finalizing funding and what options are being considered. Maybe 1 - 2 weeks after and we'll have cash in the bank...Just my thoughts.

I think they are applying for multiple. 1 to the west of liberator so they can drill LP2 with a better trajectory recovering more oil and then the appraisal target, which adds significant potential and upside to the company. If they get it, id expect this to be sitting comfortably in the �1.2-1.5 range awaiting the funding, which inevitably will follow shortly. With brent looking so bullish I cannot see funding being an issue. This will fly through �2 and beyond.

i think people just do that for fun. I can't think of any other reason. But everyone does have to start somewhere.

Looking good for establishing a much higher support level this time. With timelines much shorter than last and Brent flying you'd have to be mad to sell now. :)

The tweet wasn't the most professional move, especially if there havent been expedited timelines however they have always stated by the end of Q2 and I know they are doing everything they can to bring that forward. Remember it's in the public sector of a snails pace industry. I'm hoping for mid June, but any time sooner would be fantastic. :)

I will happily eat my words, it looks like they may land this month....:)

I will happily eat my words, it looks like they may land this month....:)

Correct long leads, and agreements with rig contractors etc are in place, so they should be able to hit the ground running when the money's in the bank. Maybe a small delay but nothing major i wouldn't expect. Equipment is usually what drives timelines but that's already in hand. :)

I highly doubt they will sell Liberator. Thats whats going to fill the BoD's pockets. With the profit it'll makie they will be taking home millions within the first year. Unless there is an outstanding offer, however i deem that unlikely. And another license bid for next year, i think we can forget that, no point. Don;t think they will of been working anything up. I'd also hope a matter of a couple weeks to get funding signed, they've had plenty time to dot the i's and cross the t's. Surely just a formality now to sign on the line.

Good post Croz. Liberator is the minimal risk cash cow that will make I3. Just a little frustrating its funding now appears to be attached to the 30th round timelines.

If you have an unrealistic hypothesis of when something will be released you are setting yourself up for disappointment. Govt agencies dont work in week increments...expect late May at the earliest. Likely mid June.

They have to process the Liberator Fluids over the Bleo Holme yes, but this doesn't constitute the "JV" you are implying. Repsol don't have to take any stake in Liberator for this to happen and I3 doesn't have to accept any offer of funding they make if there are better ones out there. I would also be hesitant to attribute Repsol to being the JV partner in Liberator.

Most likely there has been a large background buy.