Member Info for MTSparky

LO selling is more to do with oil demand and price than I3e. It’s a strategic move IMO

I genuinely will be surprised if I3e don't get snapped up by major North Sea player . See below !!

From Oct 2019
Neptune Energy today announced it has entered into a conditional Sale and Purchase Agreement with Energean Oil and Gas (“Energean”) to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for an initial cash consideration of $250 million1. The purchase is contingent on Energean completing its proposed acquisition of Edison E&P. The portfolio will provide Neptune with material growth in contingent resources, an estimated 30 million barrels of oil equivalent (mmboe) of 2P reserves and near term production in core areas of the North Sea close to infrastructure.

….AA will not like the market valuation where it is.

i3e are sitting on around 83m +++ barrels of recoverable oil and two development projects. One of which is likely to be partnered by Rockrose and Repsol Sinopec. Then we have Liberator phase two to get our teeth in to.

83m x $30 margin is £1.9bn. Current M/C £32m. At some point things will kick off here …;o))

Maybe now the selling is done, any good news sees us onward and upwards once again..;o))

AMAZING !! if you stare at it it transforms into an image of AA saying a prayer before entering Uranus.

I think with LO selling it is more strategy than a reflection of i3e. They are negative on oil.

Thank fk for that !!

Do you believe i3e will exist in 2 years? I am not so sure.

I've been trying to watch space without much success. Is he referring to a particular space? Is it on google maps?

© 2019 Repsol Sinopec Resources UK Limited.

I know who they are, I was just surprised Repsol Sinopec was a LTD company.

we'll be at 35p for two years at least at this rate !!

3 months !!!...pmsl.

what we thinking 10x bagger ??? give it 3 years?

looking for a huge re-rate from here chaps. Potentially short term production 20k p/d and over 100m barrels of reserves. $5 per barrel reserves. £460k per day income....ooosh!...;o))

Things may hot up with this project soon. Reading posts elsewhere I3e are currently surveying the area around Tain and Bleoholm. The enlarged project will hold around 83mm barrels recoverable with scope that this number will increase significantly.

Assuming 83m barrels P50 ownership split would be:
- I3e 84%
- RRE 8%
- Repsol Sinopec 8%

Agreed Older, OGA act as arbitration not lawyers. We need to look at Bleoholm and decide if it is in RS/RRE best interest to keep this vessel afloat as Blake etc production falls. Could Serenity extend the useful life of Bleoholm? RRE will certainly want Serenity/Tain into production ASAP with their growth ambitions. RS may offer a deal prior to Liberator pilot drill as i3e risk is highest and may be tempted by an offer.

Well because Tain and Serenity are basically the same reservoir the OGA will require these to be developed as a single project. Tain has 50mmbls STOIIP split between RS & RRE but Serenity has 200mmbls plus STOIIP 100% to i3e. I3e now own about 84% of the enlarged project resources. Repsol Sinopec who are operator of Tain and lease the bleoholm production vessel will have to negotiate with i3e now as they would be the operator but only own 8% or less if Serenity is even larger.

This is quite exciting development. Repsol Sinopec bringing I3e to the table. Assuming 83m barrels P50
- I3e 84%
- RRE 8%
- Repsol Sinopec 8%

I wonder what sort of deal I3e are hoping for? What % will Repsol Sinopec want as operator?