Member Info for miker444

Hi Pompey, Rocky500 did a couple of excellent posts on 11th &12th March and it does pose the question to me that they can certainly 'hit the ground running' on re-list and not have to wait for the full IPO target needed to produce oil. i3 media release stated the private placing allowed it " to fully engage with the supply chain in order to deliver equipment and services on time and at attractive competitive cost levels". I genuinely believe that knowing they already have money and a decent amount they do not need to wait and would have agreed terms already. This to me is what that fund raise was for. Rocky500's point, if correct, is huge if our 20% stake of the initial fund raise with i3 is put into the sp on re-list prior to the main fund raise, we should multi-bag and possibly on two separate occasions, with the latter multi-bag on a higher sp going into it. Finally as they were significantly oversubscribed it seems strange that it was $7.6m and not a round figure, say $5m,$8m or even $10m so that also suggests to me the amount was earmarked against known specific budgeting costs and also why do it early before re-list which was the agreed method. This will speed up the route to production if the supply chain / equipment is on the move and make up some lost ground time wise, we may yet see production late summer. atb

Hi Daiwish, it may not be long as we enter Q2 on Saturday and the Rns's all state Q2, it's just a question will it be early Q2 in the next few weeks or so or late Q2 which could be end of June. Personally have a gut feeling we are not far away, certainly an initial fund raise has already taken place for $7.6m which was significantly oversubscribed so that is always a good sign of investors queuing up and therefore they can re-list when due diligence is complete and start the main fund raise of the remaining $45m. If we can re-list at 0.15 / 0.2 with the 50% upgrade we should move up again when all funds needed are secured to fund the drill to production. So we may see 0.3 on $45m fund raise and then not far away from 1p which is a low multi-bag just 3 x ish and think this will be very conservative if we get the expected MarCap of $400m once producing. All in my opinion but I have an expectancy that I have aimed very low to what the outcome could be. Cora Gold will take longer but we get that IPO for free! Q2 next Sat :¬) atb

Yes well done infapound, Forgot to say can also check i3 website, it was there that on their media news section they reported the 'significant' over subscribed fund raise of $7.6m. atb

Hi tavilad, the only place that we can check for news / rns is on the Glenwick website, I check it, as I am sure others do, on a daily basis and this will certainly be informed on this bb. It is possible to get an rns alert but trust me if there is an rns released it wont go unnoticed for more than a few minutes. Once that happens of course we will get back our own bb and leave the prs posters in peace, who I have to say have been very accommodating which is appreciated. If I hear anything mate I will post on here and we can go from there. atb

Until we get an rns we wont hear anything as the next news will probably be the re-list date of the i3 IPO. It has been stated that this is expected in Q2 2017 (as is Cora Gold IPO) so that could be April, just 10 days away, or end of June, 100 days away! Hoping it will be sooner rather than later and actually believe it will be. I base this on the fact that if they are looking to produce by end of summer they will need time once relisted to raise the funds to re-open the Liberator well and we are well into Spring already. Hopefully a few weeks. atb

Hi Spicey, whilst Rocky500 brought this to our attention a couple of days ago it was via a link to Energy Voice and not on i3 website, so that in itself could be significant that perhaps we are fairly close to to IPO and listing on AIM. Rocky made a valid point that if we re-list on the back of just £6.2m and Gwik put in 20% nearly £1.2m we may see a decent sp on re-list which will rise considerably again during $45m funding all before the oil flows making i3 MarCap circa $400m and sp should multi-bag when that happens. The point being the higher our sp before fund raising the higher after it multi-bags. We could be in for quite a surprise and may well hold as much as 5% ownership of i3, possibly a tad more. Not long before we find out, and remember PRS shareholders will hold 9% equivalent of Gwiks ownership to i3, they should see a marked rise in sp also. atb

Hi Pompey I thought the same got quite excited, but genuinely pleased for Paternoster shareholders we are all on the same side atb

So without being accused of ramping, although difficult to do for a de-listed share !, it does suggest that there cannot be much standing in the way for i3 now time wise to start the IPO in motion. They have funds secured, official confirmation of ownership, all that is left is due diligence ( and most of that seems to have been done ) and paperwork. Obviously no one can call when it will happen but this suggests early Q2 ( April ) rather than late Q2 ( June ) all imo of course. Fingers crossed. atb

Part of i3 CEO Neil Carsons statement in Energy Voice on Fri 10th March (Rocky500 post) is ..............." The Company intended to build up a portfolio of production and development assets in the N Sea" he then continues................ " We remain excited by the opportunity to grow our portfolio of assets in and beyond the N Sea and continue to actively pursue our staged acquisition growth strategy" So not only content with the 1 well in the Liberator field as good as that is ( expected flow rate of between 6000 and 10000 bopd is the norm for N Sea ) and an expected MaCap of $400m+ once that is producing he wants to add more wells and further afield than the N Sea, which can only mean he wants i3 to become a global player. Yes this will not happen overnight but further acquisitions in the N Sea could happen quite quickly as more and more activity is taking place their at the moment in the N Sea and i3 may well put profits from the Liberator well in expanding the number of wells they will own, they should be fully funded and no need to borrow / dilute etc. Certainly if 1p is achievable sp wise for existing shares equivalent being held by us shareholders when they produce the oil, and with $400m MarCap I see no reason why not, then for each well added to their portfolio I see an equally significant sp rise each time that happens, we are after all tied in by a fixed % ownership to i3. My main point, i3 are just starting out and want to grow and continue to grow, Neil Carsons words not mine. atb

If as you say Rocky the £6m was for ipo and entry on to AIM then the sp could be several times my expectations and further significant increases once $45m fund raise happens also. Keeping my feet firmly on the ground mate but this gets better and better. atb

Superb find Rocky, as you say proves still moving ahead even when we do not hear direct in RNS's and what good news, oversubscribed, the Liberator Field turned Dana Petroleum in to a billion dollar company when they discovered it. Well Done mate atb

Hi Pompey, happy to take the blame mate lol ! Amanda actually mentions the fact that we will be removed from the lse in her rns and to check Gwik website for updates which whilst bringing it to Admins attention and hence I agree it happening quite quickly I thought it was quite caring towards shareholders and understood our concerns of being left out in the cold as it were and came across as she wanted to allay our fears. There can't be many investors who end up having 2 ipo's to look forward to from just 1 investment. Imagine how busy the Gwik and i3 bb's will be when we re-list on both, I for one look forward to the chat on these boards and if that chat is because both of your companies are starting out from scratch then there will be a lot of excitement, an awful lot of posts and sp's that should head upwards on a pretty steep curve, Cora taking a bit longer than i3 but I have faith in Amanda's financial acumen. She knows a lot about Gold and mining holding the position of Chairman in Women in Mining's governing body in addition to being a fundraiser for institutions ( over half a billion dollars to date! ) atb mate PS should be that chairwoman :¬ )

Yes obviously will check Gwik website on a daily basis, of course it is possible that any RNS releases will come on here as well like the Feb 06th one did due to Paternoster's connection anyway. Hopefully not too long to wait for news. atb

Impossible to answer that question nozzla as the only information we have are the RNS's, but every RNS has to be run past the nomads and legal eagles so can only go with the content of them being accurate and as well intentioned as they are meant. I personally do not see an issue with i3 ipo at all, the Cora Gold ipo has far more ground to cover and whilst I still think that will happen it is less certain than i3 imo. Amanda sounded very upbeat and of course gold is her forte so she may well have had Cora lined up for some time which would suggest a fair amount of due diligence was already done. Think we will get both ipo's with i3 ahead of Cora by several months. atb

Scotty, if i3 takes off as Gwikers expect it to then I genuinely believe PRS will benefit, certainly by a decent sp rise and looking at how dormant it has been on here that won't be a bad thing. So much as to say Nick won't have any bearing on it one way or another as % value that PRS hold in i3 will automatically follow suit with sp rising. May be worth PRS pi's looking at Glenwick plc website and read the last 4 or 5 RNS's to get an insight and as to why the general excitement exist amongst Gwikers, should be pretty big mate. atb

Thanks penfold, I think there is some gentlemans code from Admin that they do not want people posting on bb's that are not pertaining to that company blah blah but actually as I stated PRS do own a % of GWIK and Amanda a Director with PRS & GWIK so don't think we treading on anyones toes. atb mate

Totally agree that i3 is the big fish, my post history shows that I view Cora Gold as my de-risk in that I will let it run and should get back my total investment outlay, if it gets to 0.1p, may well take a year or so as we only have 9% of the enlarged share capital although it depends on the value of the Company when IPO is complete. No as you say we all know that i3 could / should give investors here and PRS a good uplift once we are producing from the North Sea in late summer, possible multi - bagging from where we are now. atb

Good Morning nozzla, hopefully it won't be too long before we are back up and running, Q2 for both i3 and Cora Gold which could be April through to June , lets hope it's the former. atb

Guys, Scotty, penfold etc regarding PRS RNS dated Feb 06th about an rto investment of i3 through GWIK (Glenwick) would you have a major problem if myself and a few others ( shareholders in GWIK) can use this bb to communicate with each other please as we have de-listed temporarily and waiting to be re-instated once the IPO / RTO are completed.This means we have lost our bb share chat availability. We have a good selection of investors who genuinely seek to provide honest chat and opinion and I feel it may be of benefit to PRS investors as PRS now owns nearly 10% of GWIK as detailed in the above mention RNS Feb 06th. We can provide updated info on here when the IPO's and RTO's have been announced etc, it will give PRS an sp uplift as a major fund raise will occur once i3 list on AIM. Amanda Van Dyke is a director of GWIK and spearheading an IPO with Cora Gold through GWIK along with the i3 IPO so there is a direct connection between us all. Many Thanks. atb mike444

busta, sounds like they are just being transparent in keeping you in the loop as to everything that is going on. I have experienced de-listings before, unfortunately, but my shareholder account remains the same as in it shows Gwik and the holdings irrespective of the sp price going to zero and will automatically be converted by the broker / nominee when they are instructed. atb