Member Info for miker444

A post on twitter by redmires states " long tie backs" i.e 20km are quite feasible in to Bleo Holm FPSO. He has put a detailed map of such tie ins that already exist and seems to know his stuff.

I believe so , think it was quoted as due end Q1 so I think that is one and the same. atb

Funding news and 30th Round Licensing news then mm's will happily walk this down by small % each day, purely because they can and also allow them to accumulate shares at a lower cost. Have seen this many times no matter how promising the share or news due. atb

Usually take place to vote on resolutions, followed by an RNS stating ' We are pleased to announce that all resolutions were duly passed at todays GM'. That is it normally it in a nutshell, I personally don't see GM being the place to discuss funding especially in the presence of PI's, that will be a decision made by the BOD in private and released via RNS imo I could be wrong atb

Morning royoboy I will have some funds available soon so it sounds like I am being a party pooper in that I do not want 'good news' just yet let me buy some more first lol ! We will see several sp re-rates and whilst 30th round is the icing on the cake we have enough to be getting on with even if that is not granted. I think it will be but if it is not I think NC & GH will continue with their 'shopping' hat on, they are not going to settle for just Liberator phase 1. atb matey

Repsol are currently running at a loss and have an awful lot of capacity available for their pipeline networks and therefore desperately need more oil flowing through their terminal It is a win / win situation for both i3e and Repsol to work together, they need each other. Bottom feeding is perfect for oil companies such as i3 as the volumes of wells producing 10,000 bopd is huge for us but not for Shell and BP etc and we get to grow with each acquisition being paid for by the previous wells revenue. Neil Carson and Graham Heath have been successful with Ithaca turning it into a billion pound company ripe for takeover, they know what they are doing as they have done it before. Yes there are risks but I don't think any negative posts will succeed in driving the sp lower considering the news we expect to have in a months or so time. atb

Good morning GL, indeed and looking at Zengas excellent posts we could be in for some life changing sp rises by end of next year. The figures of $93m for 11m barrels and $279m for 33m barrels does indeed equate to just $8.45 pre production price. This is as stated 50% de-risked, but if all goes in our favour, and yes it is a few if's such as funding, 30th round etc then we may get 234m barrels under our belt. Using the same low 50% de-risk value as in the rns figures then 234m x $8.45 gives $2 Bn, if you go with the metrics they have provided. If you go with Ithaca 2P figures of $16.59 and Wytch Farm $18.46 2P per barrel we are looking at circa $4 Bn. We may have hiccups along the way and things need to go in our favour but if share dilution / placing is kept to a minimum then my point is the share price by end of next year will be totally unrecognisable to what we have today. atb

Anyone attending GM

Hi Zenga basically what we were saying but agree with your post, we were excluding production and going on MarCap, which is quoted in rns, versus shares in issue. The point is there are many variables but bottom line for me is the sp will be many multiples of what it is now. atb

Just to add, there is no reason why if i3 get to a big enough MarCap valuation that it won't list on the FTSE 250 / 350. If that happens, in time we may well be in line for dividend payments, once loans have been paid off that is. It won't happen straight away but it is another possibility of course. atb

Hi Nige, I believe the extraction costs are as low as $23 so a big profit margin on every barrel which is why whoever is funding the $200m has confidence that it is a safe loan, as safe as it can be in business. By 2020 it could well make us PI's very comfortably off, some of us nudging millionaire status, 2020 sounds a long way off but it is only just over 20 months away. atb

Once they converted the shares into i3 that was basically it, there is no money in Glenwick they exist as a name only, not even a cash shell. They could provide a route for another company with assets who want to list on the stock market but that is it as far as I can see. As I said a nice bonus if it happens but even best case scenario I would hope to get my investment money back but even expect that to take several years, best to view it that its gone to avoid continued expectation and disappointment. atb

No my advice is to read the rns's in full

Why would Neil and Graham do that? It is their Company and they eventually want to go Global, their words. It wont happen. atb

Hi Nige, if the official rns is happy to quote $1.46Bn @ �53.50 then @ $75 the equation becomes $2.19 Bn MarCap. It is not being optimistic mate or pessimistic it is simply MarCap divided by shares in issue and that is the nature of the beast with any oil company, their value can increase greatly purely on oil price going up and conversely decrease with oil price going down. So we could all see our sp rise by 50% by outside factors even though we are producing exactly the same amount of oil as when it was 50% lower. If we have little or no more share dilution via placings and it would appear that funding is via debt / revenue repayment then �2 Bn divided by 34.25m shares in issue comes on at $58. These are facts not emotions and they do rely on us getting that MarCap and getting the extra acreage / 30th round / 234m barrels etc but it is all possible. Either way even with just Liberator phase 1 we will be several whole $ minimum sp. atb

dreamchase with regards to Glenwick any answer would be pure conjecture as there is nothing to gauge with, not a bean. My own personal view is I do not expect anything and that I have written it off but will see it as a bonus if it sparks to life and we get a chance to get some of our original investment back. I am not holding my breath and have moved on and building up my holding in 13. atb

dreamchase taking into account all factors of Glenwick, price, share issue, i3e conversion etc if you bought Glenwick at an average 0.1p you need i3e to be at 71 pence to be in profit. As a long term holder I bought in comfortably less than 0.1, (my average being lower) and therefore am in profit taking into account everything so for me happy days, those that bought in an average higher than 0.1p will not be in profit yet, possibly breaking even but if it comes off then all will be in profit, some rather handsomely. Holding 200,000 i3e shares and looking to increase before end of March / news. My mate has over 300,000, lucky git. atb

royoboy, yes at 1.043 i3 shares for every 1000 Glenwick he would need 48 million to get 50,000 i3 shares. To his credit he is not actually trying too hard to convince and sees it as a bit of banter, I suppose it gives the board some levity. I am just off to catch a couple of fish to feed the dolphins, mining in the N Sea they need to keep their energy levels up. atb mate

yes I made it $42 and seems impossible but I bought Asos shares a few years ago, they were housed in my workplace, middle floor and the shares were just 1.8p at the time, they went to �72 each, some workerrs were in a share buy back scheme some receiving 10,000 shares a month ( when it was a few pence ) . A few retired early needless to say, my point is Asos bcame a billion pound company very quickly and as you and I both know sp is MarCap divided by shares in issue, that's it. We are in the right market for that to happen. So yes some debt payback but that is from revenue not placing / dilution and Goldman Sachs reckon oil will be nearer $80 this time next year. Think if all goes to plan i3 will be valued circa $2 Bn +. atb

croz can I ask how many Glenwick shares you had originally