Member Info for NewKOTB

"it also confirms that data is being looked at by others...."

So this confirms the reason why "we have chosen" to complete another site survey that is due to finish any day now. More data for the data-room for the potential farm-in partner to make their call.

The negotiations must have been going on for some time therefore imo.

All good imo, very good in deed

"Premier still needs to get approval of the Scottish Court of Session, with a hearing currently scheduled for March 17"

Whatever that means in respect of the deal going through !

Bee's

'flapping' .... really.

Here's the quote from Polo's RNS that clearly states a delay in the transaction.

"further to the announcement on 6 February 2020, admission of the 44,367,795 Consideration Shares, to be issued pursuant to the transaction between the Company's subsidiary, Polo Investments Limited ("PIL") and GCM Resources plc ("GCM"), which were due to be admitted to trading on AIM at 8.00 a.m. on 12 February 2020, has been delayed. A further update will be made to shareholders in due course...."

So it DIRECTLY impacts imo on an RNS we issued (3/2/20), so we NEED an RNS to confirm our position. If it is a Polo internal issue, then our board just need to say they have noted Polo's RNS and that there will be no impact on the draw down agreement, SP will probably begin to rise once more. Not difficult imo.

https://www.lse.co.uk/rns/GCM/increase-in-polo-facility-to-35-million-5822rrc4cb2gqq5.html

Not sure how 'timely' an RNS needs to be in this case, but I would guess it would have to be before 18:30 hrs.

No matter how you cut it, the Polo RNS needs to be addressed by our board via an RNS to clarify and settle the market.

atb

Only 40 posts from this morning removed with that thread !

So that still leaves us with not knowing why GCM have not issued an RNS stating the Polo RNS will have no effect on our draw down facility agreed earlier this month.

LOL ..... Looks like bee's et al have had the POLO RNS thread removed !!!!

Too many difficult questions to be answered I guess.

Free speech lol

It took 4 trading days back in Jan 2019 before we had the RNS informing us of the JV with PowerChina. That to was preceded by +2m volume on the 11th and 14th before the RNS on the 17th. On the 11th we experienced a close of over +50% rise.

Just saying !

atb

You would think given the breadth and experience of our BoD you have to think they know what they are doing. So the assumption is the market know this and want in before the action commences ?

https://i3.energy/about-us/board/

aimo

OMG Destitute, you hop from one side of the fence to the other rather quickly.

Last week you called a move to 20p ..... "A little upward motion is nice 15p-20p tomorrow would be very welcome", now you are calling a penny ! ....

Please add copious amount of salt to his comments.

The last RNS sounded to me as if we were putting together our 'for sale' portfolio.

Also, the site survey is expected to be completed this month!

https://www.lse.co.uk/rns/I3E/board-and-operational-update-pd5q7lgt86tcvx5.html

JAdam,

I think, taking everything into consideration, $10 will be very hard to achieve at this point in time. However, $4-$6 should be achievable, ie 48-50p/s imo.

2017 CPR confirmed 11MMbbl 2P, now priced at less than $1 barrel .... madness !

https://i3.energy/wp-content/uploads/2019/10/20191029-i3-LIBERATOR-UPDATE-vF.pdf

"Also both share prices of late have been trading in tandem which could be an indication of a merger.. "

Not gone unnoticed ... :-)

Could easily touch 48-50p on next rise imo

"Surely newk they are talking to each other.."

Question is are they talking in a nice way, or are RRE trying to steal our sweets !

A Merger and the fire power that would give with >60kboepd and cash on hand of >£440m (est) by end of 2020 I think that is a real possibility. Making the combined company the 6th largest independent producer on the NSCS.

Given recent events, given the 'bedding in' time would fit nicely with picking up more assets mid-late 2020. A company that could even reach 90-100kboep by end of 2021.

ATB

I was forecasting 4p maiden, 1p interim.

Think this may now be revised down given recent events, so I would now go for 2p maiden (£5.2m) .... see how rest of year goes and hope for 1.5p (4m) interim.

atb

At 20p/therm supply is NOT sustainable .... North Sea and all other suppliers will be shutting down ... Old Nicola Sturgeon will be very quite on Scotland's Independence now I would guess.

What you have to remember too, is inflation adjusted therm costs from 15 years ago of 20p is the equivalent of 31p/therm now.

Expect a big bounce back to high 20's imo .... way oversold atm

It was all over the news a few years ago when gas prices fell and shale gas quickly became uneconomical .... now with conditions not dissimilar to then, yet we hear nothing !!