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GGG, agree, I think 15-16p would get this over the line. While I wouldn't be happy, I'd probably vote this through. Assume lots of others would be the same.

Do we think Polus are the shareholders then that have given irrevocable assurance? Makes sense given they hold just under 30% and the board only have a few percent.

we all got done over with the divi offer when russia invaded ukraine. was far far too high, caught us in and now we're all paying for it. while majid is sipping ****tails.

Fair dealer20 - it's in the deal that all directors of i3e will resign on completion. Majid wouldn't sign up to this without a big bucks payout, giving his incredibly well paid position currently. He's the main beneficiary.

Even if GTE doubles in price due to i3e takeover, it's an insignificant amount to us shareholders.

Aim is only good for short term trading. Get in and get out. Holding just increases your chances of losing.

Still voting no here and will hope for another offer. If it goes through I'll keep the GTE share and going to look for new strategies for the i3e cash, away from the usual aim fodder.

Bpat, it is in the offer that unconditional support is at 32% currently. So a good percentage of shareholders will be free to vote. I think the no vote could get above the required 25%.

Interesting that they ran an open forum and had many parties with GTE being the highest bidder. It's public now so Canadian oilers know 15p plus would become preffered bidder for i3e. I believe this offer massively undervalues i3e and hope that a counter party agrees.

68% shareholders to vote still and needs 25% to reject. It is not over but will require PI effort to inform brokers such as II and HL.

Read the full offer overnight. I totally get it from Gran Tierra but I can't see how i3e find this acceptable.

Agree this way undervalues i3e and is selling at a low, while not distressed. Only suits Majid. Have been invested on this since Glenwick, at various levels having fortunately sold out half before Liberator failure.

But i3e been in Canada for 4 years and to be happy with 13.9p is poor. Hoping for a counter offer but I find it unlikely. No doubt institutions will sell. PIs rarely hold the cards so can see this going through.

FYI

The Boards of Gran Tierra and i3 Energy are pleased to announce that they have reached agreement on the terms of a recommended and final* cash and share offer by Gran Tierra for i3 Energy pursuant to which Gran Tierra will acquire the entire issued and to be issued share capital of i3 Energy (the "Acquisition"), intended to be effected by means of a court sanctioned scheme of arrangement between i3 Energy and the i3 Energy Shareholders under Part 26 of the Companies Act (the "Scheme").

Under the terms of the Acquisition, each i3 Energy Shareholder will be entitled to receive:

one New Gran Tierra Share per every 207 i3 Energy Shares held; and

10.43 pence cash per i3 Energy Share,

(together, the "Consideration")

In addition, each i3 Energy Shareholder will be entitled to receive:

a cash dividend of 0.2565 pence per i3 Energy Share in lieu of the ordinary dividend in respect of the three month period ending 30 September 2024 (the "Acquisition Dividend")

Following completion of the Acquisition, i3 Energy Shareholders will own up to 16.5 per cent. of Gran Tierra.

Based on Gran Tierra's closing price of US$8.66 per Gran Tierra Share on the NYSE American on 16 August 2024 (being the last Business Day before the Offer Period began), the Acquisition implies a value of 13.92 pence per i3 Energy Share and approximately £174.1 million (US$225.4 million) for the entire issued and to be issued share capital of i3 Energy which represents:

(a) a premium of 49.0 per cent. to the Closing Price of 9.34 pence per i3 Energy Share on 16 August 2024;

(b) a premium of 49.7 per cent. to the volume weighted average price of 9.30 pence per i3 Energy Share for the 30-day period ended 16 August 2024;

(c) a premium of 43.6 per cent. to the volume weighted average price of 9.70 pence per i3 Energy Share for the 60-day period ended 16 August 2024; and

(d) a premium of 37.5 per cent. to the volume weighted average price of 10.12 pence per i3 Energy Share for the 180-day period ended 16 August 2024.

Poor deal and hope it doesn't go through, likely will.

10.4p cash + 16.5% of Gran Tierra - 13.4p equivalent. Could have sold out in April for close to this. Do not see how this is good for shareholders other than the directors getting out.

Interested to see where this is going. Majid is a good deal maker but Gran Tierra Energy don't appear large enough to offer what I would want. Assumption has to be merger, i3e directors take their stake out, shareholders continue under the new vehicle. This doesn't feel the right time but I'm convinced any offer will be approved.

So what is the difference between Crew and I3e? Crew have sold 30k boepd for £740m. I3e are producing 20k boepd and valued at £110m.

Interesting charts. I3e only need to become sector average to double the mcap.

Happy to hold.

UK office needs to start paying for itself, but how?

Anyone got access to the new tennyson report? Called "out of the woods".

Meeting was positive and helps those on board keep sanity. Still surprised at market reaction to budget. Company with £130m mcap spending £40m on drilling this year, into a rising price environment, seems decent.

50m capex is exactly as predicted. It is giving an 8% increase from today. I3e being punished in the market by old news (lack of spend in 2023). If company can sustain 8-10% growth each year then that is okay.

I would be very interested in what the Simonette well pad in 2025 looks like. How many horizontals are planned. That could be the accelerated growth.

Unfortunately 2024 performance will be driven by oil and gas prices rather than drilling. Fingers crossed for AECO.

Stas, I got some at 3.64p. Which I believe was almost the lowest purchase on the worst day. Of course, it was only a £1.5k top up but still feels good to hit a low low. Was a big purchaser below 5p after initial Toscana deal. Having gone through the troubles of Glenwick and Liberty drills, it was a no brainer at the time.

Well past the point of "light at the end of the tunnel" but also feel the company is setting itself up to be a mid-cap producer. Masjid always said deliver the deals and the results and the rest will take care of itself. Possibly frustrating when we're used to pump and dump type companies shouting from the rooftops. Majid is playing it long and I'm very happy with my money sat in i3e.

It's an interesting one with potential gas acquisition. Clearly depends on the price and metrics could be very accretive with AECO in the doldrums. However, gas weighted stocks are always depressed vs oil heavy peers. Another cheap 5k boepd of gas won't help i3e on this front. Hard to see past putting all the capex into oil this year imo - start giving reasons to remove the value gap and attract premiums.

Anyone got access to Zeus Capital research note?