Member Info for lonestag

As mentioned earlier by another poster...on 8th Nov i3e raised £5million at 35p share placement and 6th Dec is the day the shares are to be admitted for trading....we are still waiting on the Serenity full analysis....thats 2 rns...they maybe more to come

Have noticed posters on advfn stating junior loan notes are due end of Janaury,which is nt true, i3e raised £22million via Junior loan notes and £2 million via a placeing .
KEY FACTS from the 1st March rns
"The Junior Facility will have a 4-year term with a coupon of 8% per annum payable quarterly (or 11% Payment in Kind at i3's election) and is expected to be drawable from April 2019. The Senior Facility will have first lien status against certain asset collateral that is customary and appropriate for facilities of this type (the "Security"). The Junior Facility will have first lien rights against the Security until such time as the Senior Facility is drawn, after which it will retain second lien status. i3 will have the right to redeem the Notes at 1.16 times the principal amount during the first 2 years and at par value thereafter. The Notes will not be listed."
link to rns
3rd June RNS
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/I3E/14095159.html
1st March RNS.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/I3E/13986984.html

RRE will want to see the raw data....so they can intergrate it into their models.....the next rns i3e could release is there own Serenity analysis or that they are speaking to RRE...

RRE noted the Serenity find and its implications to Tain project on 29th Oct rns...
Tain Field Update

RockRose Energy plc (LSE: RRE) (the "Company"), the independent oil and gas company, notes this morning's announcement made by i3 Energy (AIM: I3E) and will be working to understand fully its implications for the Tain development project in which RockRose has a 50% interest, including the possible impact on potentially recoverable volumes.
Further announcements will be made in due course.  

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRE/14284845.html

I dont know about the spring timeline as RRE will want to look at the Serenity data asap so they can analyse/intergrate it into their models and also how it compares to Tain data.....they are looking to conclude fid by 2 nd half of 2020...so time getting on.
Tain

"Tain (RockRose 50.00%) is an appraised and tested oil accumulation in a water depth of 100 metres, located 10 kilometres to the north-west of the Blake field. Operated by Repsol-Sinopec, development studies are ongoing and the project is expected to reach FID (final investment decision) in the second half of 2020, with first oil in the first half of 2022. The current development concept is to develop Tain with two wells, which are expected to provide peak production in excess of 6,000 bopd. The field will be tied back to the Bleo Holm Floating Production, Storage, & Offloading vessel (FPSO). Produced oil shall be exported by shuttle tanker while excess gas will be exported via the Frigg pipeline."

Rns on 8th November not October..

That deadline has been moved to April 2020 as reported in the 8th Oct rns..
i3 announced on 29 October 2019 that it was obligated to enter a reserve-based lending facility by no later than December 2019 in order to remain in compliance with the terms of its Junior Loan Notes. The Majority Noteholders have now agreed to extend the date by which the Company must enter an RBL or find an alternative means of funding to achieve first oil from its assets to 30 April 2020.
For their previous and ongoing work and allocation of resources to structure and support the Company's funding requirements as it undertakes a large-scale drilling programme, Bybrook will be issued warrants to subscribe for up to 8 million new ordinary shares in the Company at an exercise price of 40 pence per Ordinary Share.
i3 will provide an update once the above Placing Shares have been issued. Once issued, application will be made to the London Stock Exchange for the admission of the Placing Shares to trading on AIM, with Admission expected to become effective no later than 8.00 a.m. on or around 6 December 2019 and that dealings in the Placing Shares will also commence at that time.

 https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/I3E/14300314.html

Rockrose has already noted i3 discovery on Serenity and will no doubt want to purchase the license or make a farmee deal..this is where i see i3 getting the funds they need to do the appraisel drills on Liberator...imho...but shocking how thise share bern traded the past week

https://www.lse.co.uk/rns/RRE/tain-field-update-rqj2pjearikeqr8.html

Well,the borgland dolphin is still on-site, working away evaluating the pilot drill.....mmm... wonder whats taking them so long.....normally if operations were complete or news was bad...rig would be released asap..saving on dayrate...no boats been organised for rig move,.....we know the Hermit Fighter was along side the rig yesterday.....its a PSV...supply boat...and is back in Aberdeen

Hermit Fighter supply vessel has just left the Borgland Dolphin....it was along side the rig for a few hours...re-supplying

The drill was a pilot drill to gain information as stated in the rns dated 8th November...
"The results of the A2 well will allow the location and trajectory of the future LP-02 production well to be optimized and will be plugged and abandoned as planned".....
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/I3E/14300314.html

Liberator A2 Pilot Well RNS issued 8th November 2019 extract below

Liberator A2 spud

The results of the A2 well will allow the location and trajectory of the future LP-02 production well to be optimized and will be plugged and abandoned as planned.

https://tinyurl.com/wbync7x

As i said but others dismissed, you do get vote if you are the registered CREST ( alot own there shares via nominee account) and only in person if it goes by the takeover code..... which Geo has reserved the right to act upon...there a reason why its an all cash offer, there a part in Takeover code which activates and follow different rules on completion of a deal

I wonder what Malcy thinks now after today’s rns...1/2 the cash they had when he wrote that piece

The bod had multiple bids and they chose the cash offer...which was their intention from start...from the rns "   The Transaction follows from a strategic review including a formal sales process announced by Amerisur on 19 July 2019 under the Takeover Code (the "FSP") to maximise value for shareholders. As part of the FSP, multiple interested parties received access to data through virtual and physical data rooms and management presentations in Bogota, following which the Amerisur Board received a number of proposals."

Unless you hold your shares in CREST...and not a nominee account...you have not got any chance of stopping this offer....they will count all nominee accounts as 1 vote for that particular broker....this has happened many times. Check out the link to thismoney article

https://www.thisismoney.co.uk/money/diyinvesting/article-6359605/How-vote-shares-nominee-account-not-paper.html

You do not get a direct vote ...your shares are held by escrow which means they are not in your name...also although GeoPark Colombia reserves the right to effect the Transaction by way of a Takeover Offer with the consent of the Panel (where necessary) and in accordance with the Cooperation Agreement).....read the Takeover Code....this offer is going to be pushed through , if not voted through and also as stated in the RNS , there were more than one offer but yet the Bod recommended and all cash offer..there a reason for this and its all in the TakeOver Code..."The Transaction follows from a strategic review including a formal sales process announced by Amerisur on 19 July 2019 under the Takeover Code (the "FSP") to maximise value for shareholders. As part of the FSP, multiple interested parties received access to data through virtual and physical data rooms and management presentations in Bogota, following which the Amerisur Board received a number of proposals."

GeoPark can not buy shares or anyone attached to them as they are now insiders as described the Take Over Code

If this is voted down then BoD will as stated in the RNS -Accordingly, the Amerisur Directors intend unanimously to recommend that Amerisur Shareholders vote in favour of the resolutions relating to the Transaction at the Amerisur Shareholder Meetings (or in the event that the Transaction is implemented by Takeover Offer (with the consent of Amerisur), to accept or procure acceptance of such offer)…..so they will push it through

options were always going to be triggered...its in the takeover code....but like you..I feel absolutely gutted....fundamentals were sound in my opinion and to take a bid of 19.21p is outrages...but what i will be most angry about is when we get the circular explaining the deal in detail....which will no doubt have bod getting non- executive positions on the Geo BOD..today reminds me of EnCore deal...when Premier oil took them over...all Bod got non-executives jobs and pi s were shafted