Member Info for nomadicinvestor

It's impossible to know how much of the final IPO we will have. There are so many variables in how it can be worked out. We partook in the first tranche of investment, therefore should of only been investing on the assumption that there was a risk that the second tranche may not be completed. That means we should get a mor favourable rate. The first tranche money is more valuable and it was known at the time as crucial to moving the project forward. The other big unknown is the effective size of placement these two tranches will have on i3. Maybe they agreed to give away 90% in total or maybe only 50%. There's huge variances there. Lastly we can not underestimate the expertise our board has brought to i3. Top consultants with vast experience in this sector as well as AVD with her huge contact list in the city for investment. That will be invaluable during the fundraising and IPO. However, we also don't know what incentives our directors will have given themselves out of the deal. Which in my opinion will be well deserved. All I know is our £1.1m will of had a larger impact than simply a percent of the final IPO price. Due to its early nature and due to our excellent board. At the same time, I'm keeping my head out the clouds and only expect 2 perhaps 3% out this deal. Any more will be a bonus.

Good to hear randomfella. I take that as maybe getting an update around the end of November. Also interesting saying we are a major shareholder. I guess even at 1 or 2% we would be classed a major shareholder but perhaps we might get a bit more than we think. Sounds like for once no one will lose out. Look forward to the news.

Strange goings on.

Looks like a couple posts have been removed, but I haven't had the chance to do much research. Been away with work and just waiting for news to come through. Things seem to be kept pretty close to the chest, which is a good thing. Also pretty happy the twitter crew aren't overly pumping this, but suspect that is because they are out.

Care to share? Even a suggestion where to look?

Apologies, didn't mean to imply that. Quite enjoying a share that is suspended. Less distractions at work! I'm sure things will get going again soon.

I thought it was illegal to play boards? I'm not anti-Doc at all, I quite like hearing what he has to say because as you say, he has quite a large following. But I'm just curious. Anyway, looking forward for news.

No whift of news yet? All being kept very quiet and under wraps which is no bad thing. Was a bit worried about a Twitter ramp brigade jumping on this but seems like most of them were locked out. Anyone know what the deal is with Doc_H? Seems to have caused a bit of a stir this weekend on twitter and suggestions he's known what was coming with gwik and built a stake. He does know Amanda well. Anyway, it's good news for us as the hype machine won't kick in until they've all had a chance to buy. Way better it happens after listing than before. Was expecting to hear something this week, maybe next. Not got long if they want to list this year and assume they won't want to list a week before Christmas. Broker research note should be soon.

We (I) actually want the price of oil to be as low as possible pre-IPO and therefore project to be valued as less. We could probably then get a bigger chunk or at least as shareholders we could get bigger rises with the increased valuation in relation to oil. Anyway, main reason I'm here is I have been saying for six months there is a huge upside to oilies. Combine that with huge upside to shell companies and you get a very attractive risk/reward here.

Completely agree Miker. I'm invested in a couple of oilers just now and it is such a great time to buy. All companies are now exploring assets where a profit can be made at $40. Once price of oil goes up, the relative profits suddenly soar. Combine this with the usual uplift in sp that explorers get when/if they make it into production and I fully believe the next year will be an extremely lucrative time for people willing to take an educated risk and invest in oil now. Quite confident once production starts, other assets are acquired and oil returns to $60 or so, that our new shares will be worth the equivalent of a 1p+. The best thing is we have managed to skip that step that most aim explorers never make breaking the £100m mcap and allowing sticky institutional investors in to the action. We will suddenly find ourselves invested in a very large and very steady growing company.

It would depend on how much we own of the new company. I would imagine current gwik shareholders would get around 3-5% of the newly formed company. All depends on how the deal is worked and what we contribute. On cash alone, we will have invested $1.4m out of $50m - so about 3%. Assuming i3 keep 50% it leaves us with 1.5% of an IPO at $400m. Which is $8m dollars or £6.1m. This equates to around 0.28p. I would imagine we will get more than just the cash value of an ipo as this seems to be the 'fall back' in the deal. That's why I think current holders will maybe get around 3-5% of the new/ rto'd/ ipo'd company.

Neill Carson who founded i3, also founded Iona Energy who are now in administration. Looking to sell their Orlando Oilfield in the North Sea after funding of £180 was pulled. Production expected to start 2017. Would still make money below 40 dollars oil. Expected production of 11,000 bopd. 11,000 bopd x $10 profit @ $40 = $40.1m profit a year ... x10 for approx mcap = $400m Things seem to tie up well. Could i3 be a new vehicle for the same asset? Worth a look.

My understanding from the wording is that all shareholders will get a material return, so this can only be above the highest paid (0.21). We are contributing a good chunk of money, great expertise, potentially doing the funding for them and potentially providing a listing. That will have great value and a relist of 0.25 is only a £5.3m mcap - sure what we've offered i3 is worth at least that chunk of the company that's asset is said to be worth £300m. Holding these shares past q2 2017 and into production could prove hugely rewarding. This was highly speculative and it looks like it could pay off big time.

We needed to gain 50% of an asset and could only get 30%. If i3 rto into us then we would own 100% of asset just perhaps 2/3% of the company. Which is different. But it's also different rules for rto than it is for an asset to constitute remaining an AIM investment company. I had misread the rns as i3 trading in q4 2017. With it being q4 2016 (any time in next few months), that makes me think it will be an rto. "The Board of Glenwick will now be working closely with its counter-parts at i3 to provide the most attractive platform for the successful listing of i3's shares on AIM in Q4 2016." Few hints in there. 'Counter-parts' - something of equals. 'to provide' - make available for use. 'platform' - our listing. 'q4 2016' - can't wait.

You should give doc holidays Vox market podcast a listen. Pretty good summary of what has happened. Really think this deal is just the starting point with enough securities in it to allow our board to fully commit to the project. Knowing if all goes wrong then shareholders (and I'm assuming themselves) are sorted. We need to remember that our £1.1m is the first funding received and at this stage perhaps it was crucial to keeping targets. Our board could transfer the money overnight, with no problems or delays. Don't underestimate early stage funding for projects like this. The more I digest this move, I think our board have been shrewd and I remain confident in their ability to deliver. Probably, I think we will be part of the i3 IPO rather than an rto. I suspect rto will only happen if IPO is unsuccessful or overly challenging. What's exciting for me is the low cost per barrel and the associated rise in value when oil returns above the 50 mark. Fully expect in a year to be trading oil back at 60-80. Nows the time to buy into oil companies in my opinion.

Just back from a holiday so been trying to digest the news. What the board seems to have done is a deal that if all else doesn't work, then the shareholders will still get a return on their money. Almost sounds like an inbetween deal, with more to come. But that 'more' could take a while to sort out. Looking at a poor scenario I think i3 will want to retain 50%, we will have invested $1.4m out of $50m. So about 3%. Divide by two as only for 50%, leaves us with 1.5% of an IPO at $400m. Which is $8m dollars or £6.1m. This equates to around 0.28. That is just on IPO, can only assume once production begins and the business is up and running that $400m increases (which I assume is planned pre IPO to eliminate any market uncertainty on flow rates, logistics, poo etc). Also i3 look to want many assets, this is just the start. Yes that might mean more dilution but will always add value and immediate value going back the business plan. Amanda will probably be key in the funding and I think she will be our secret weapon to getting great deals for us by getting so much money in from elsewhere. Jaap - maybe seeing this as a great investment and taking a more back seat? Who knows. It might take a year but if a low case scenario works out at 0.28 (I accept its fag packet/bit of conjecture) then I think we can all be very happy.

Done a little research into the company, not yet bought. Given DL's track record, it probably isn't a bad bet putting a couple k in here. Always off putting when you see a huge rise like this but mcap still tiny. Can't see Lenigas being involved unless he saw some $$ signs in his eyes.

Interesting to hear on the Vox podcast that the guy feels "sorry" for gwik holders. We all had plenty warning and all chose to stay. These guys really aren't any better with investments yet they have this huge platform. More often than not they get things wrong. Anyway, will be my last post here for a while as I imagine there will be no leaks this time round. Gla

Good to see a lot of positive posting going into the suspension. Don't think we will have long to wait. This will be a typical shell/ oil explorer story. The big question will be how long to hold? Have to admit if it hits 0.5 I'll probably struggle to not hit the sell button. But as I said previously, 1p is realistic short term target here. Let's wait and see.

Good luck to everyone that stayed in. AIM works in funny ways and it definitely pays to be bold, otherwise we might as well split our folio into 20 ftse 100's and hope it averages out at 5% a year - no thanks. Even though we are suspended I still think the board will remain quiet until deals are signed and sorted. Last thing we want is a hype fest followed by a good asset that's not seen as good enough due to unrealistic hype. Looking forward to the journey.