Member Info for nomadicinvestor

Positive update - 2 clearwater wells with horizontals completed ready for tie in, production by end of July.

I thought it was interesting that Majid and Graham had slightly different answers to the growth question. Majid was quite clear in saying they are actively going to grow and want to be much larger and will take advantage of the current prices in Canadian assets. However, when Graham was asked, he said that they can now organically expand through cash flow to a larger entity. I'd hope for the latter but it seems the driving factor is to bump the divi payouts and the quickest way to do this is through acquisitions.

It's taken two days, but I have increased my holding by 50% at 11.6p average. Ultimately the diluted mcap at this price is only £125m. A few days ago, i3e was valued at over £100m with only 9k boepd. When it has 18k boepd I am very confident it will go back to or around previous metrics very quickly. Best way to make the most of this is to buy more.

G_G_G - I don’t disagree with your sentiments but this isn’t unusual and I do think it is the best for I3e. If it is such a steal for the ii’s then the normal pi can also buy in open market at not much above.

Also pi’s have been able to buy in at under 5p for months and months, under 10p for a good while as well. II’s couldn’t buy a substantial amount in open market due to liquidity, raising is the only way really for them to get on board.

What I find most of note, is that the predicted development model for Simonette requires $45m initial investment (not much less than the $53m for this acquisition) but will take 3 years to get to the 9k boepd. So for only an extra $8m, we are getting that production, plus all the pipelines back dated to April. In the first 18 months it will provide the $45m in net income to 'flywheel' South Simonette to 18k bopd. This is a good piece of business and mid-term investors will benefit.

If you can’t beat them, join them. Anyone who participated at the last 5p placing has done very well and I see this as the same. Can buy in open market for only a bit above price of placing. I’ve added today and will take the gains that are on offer, however I do agree for existing shareholders it would of been better short - medium term to just develop what we have organically. Board isn’t aligned close enough to shareholders since the Gain acquisition changed everything.

From these levels is there gains? The answer is yes, therefore I buy. Could my shares of made more money as it was anyway? Yes but this is aim and it’s never a breeze or else everyone would win.

Poor WHIreland - will their target ever be able to be updated before the posts are moved again!

360m shares - 50% dilution. Bit frustrating but let’s see how it plays out.

One thing to remember is we now have some big ii’s involved and they won’t let their existing shares be too heavily diluted. I think it will be a good deal.

All depends on the price, if raised above 12p I think it’s very good business. To be honest, the amount of production and reserves adding, the placing could be 40% of the company and long term would still be beneficial to existing shareholders. My main issue is that whatever gets placed, effectively reduces Serenity impact to current shareholders by that amount.

Hopefully here soon the price. Will reserve judgement until confirmed.

"which may take several months"....

Interesting Jamie Strauss only received 88% and special resolution 77%. Need more to vote no if want to see off Ganfeng.

The mix of growth and dividend in the current climate must be a very attractive proposition to institutions.

Long term I think 50p is very realistic based on current developments, taking risk into account (that's around £400m mcap). If they develop Canada to the heights they present, including other acquisitions and Serenity comes in well, then 60-80p and above is more than possible.

Sold 25% of a long term holding to add in here last week - glad I did! Everything is falling nicely into place.

He's made a couple posts on twitter but nothing on bcn. Nothing he said about the company was incorrect, it was all just referencing RNS's with a little touch of fag packet calculations on the side. It does seem strange he has went from constantly posting to nothing. Perhaps given up?

I posted on twitter I sold out 25% last week. It was a bit of a hedge in case deal falls through and price drops or deal gets announced but price only hits 63p due to inevitable delays. That money has gone into a stock which has since risen 20%. I'm starting to think taking the money and moving on isn't such a bad thing... although of course I still want to see the offer rejected by shareholders.

Agree which ever way M&G vote will be the final outcome. Not enough pi's to block this imo unless Robeco and Hanwa also vote against. Suspect any offer will be made at 4:31pm on Thursday.

The EGM is today in Hong Kong at 2pm (it's currently 7pm in HK) - should the results not of been announced? Expecting 100% approval on their side.

Given we are in the Euro's just now.. an apt expression from the football world would be "to do your talking on the pitch". Majid and Graham can deliver facts and figures from now on, no longer do they need to deal in "hope to" or "if". The market can not argue with that and there will be a realignment at some point. I added more On Thursday at 9.4p, higher than I had previously said I would but it was a steal after last weeks RNS. That is me now done with top ups, time to let it run. Great thing with i3e is there isn't such an issue with selling out - the company is on an upwards trajectory that will only be curtailed by a falling oil price. With so many of the massive oilers pulling investment into renewables and clean energy, I can only see oil price going one way.

If only most weeks started like this!

Really good update. Clearly I3e are now past the integration year and are now delivering on their promises. With new wells coming on every month, it will be constant positive news flow. Excited for Serenity to get dropped in their also, suspect it may happen very soon after divi confirmed.