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Been a painful 6 months. That huge 2022 £80m capital spend could repurchase 30% of shares today. Yet share price finds itself lower than it was a year ago. Company needs to find a way to address the drip. On aim, is it really going to work giving only quarterly updates? People tire and like it or not, newsflow is always key to success here.

Parge, I have every confidence this will be back over 30p within the year.

Guess it is not a surprise the institutions that bought for 5p are taking a slice of their 300% gains, while new larger institutions begin to buy in for that divi and growth mix. Its an excellent entry point with a softening in oil and gas prices, which is surely temporary. Wonder how much JP Morgan will take? 10%?

They have 0.15% in CFD. Hence the 4.89% shares being taken over the 5% notification point to 5.05%. If they were sat at 3.07-0.15. Then shares would of been 2.92% and not been notifiable. I'm no expert in when CFD has to be included. Perhaps only if in a notifiable position. This will be how i3e knew their position but no one else did.

https://i3.energy/investors/significant-shareholders/

JP Morgan Securities hold 3.07% on i3 website, date says accurate as off 28/10/22. Strange drop after the RNS.

They were in for 3% roughly so increased 2% - very good sign. Interesting they manage to buy without affecting sp yet while institutions are offloading the sp always goes down.

It's an interesting story with gas prices going back to the war, then the over pricing, the huge utility bills, inflation and ultimately a collapse as everyone turns off their heating to save money.

Main driver for i3e this year is probably oil and gas prices. Hopefully start to recover to above 4$.

Has a time frame been put on the first lateral?

Be interesting to see price action today. The two ii's selling off at least explains the poor performance recently. Hopefully they have dropped to the level they want. Still feel the market needs some indication of newsflow this year other than a 10-15% production growth announced quarterly and the locked in divi. Market needs catalysts at this level.

Tony, I know the board have suggested as i3e gain more Canadian investors, but I've been trying to think what catalyst will move the company towards the average EV. Do you have any thoughts?

According to the board, once Canadian investors go over the 10% mark, they will then need to start reporting to the Canadian system which will encourage more investment. I feel this can't be the only reason. With the growth and dividend, i3e should probably be trading higher than average EV. There is clearly an issue somewhere. Perhaps Liberator/ Serenity has tainted the company too much in UK?

Personally, I think the strategy in Canada is too risk averse. With such little debt, could the board not take some on to do an oil weighted campaign in Clearwater? Quick paybacks and oil outlook for foreseeable future looks fairly safe. Ideally the board find a JV partner but there is no sign of this happening.

Something in the strategy isn't hitting the right notes for investors.

Good interview from AM on proactive. My feeling is the JV negotiations will be waiting for the three recompletions before being agreed. AM said how much these wells flowed was a key part. Why enter into a massive JV when you have this data within months? Good point made that the unstimulated small section producing 130bopd is a great result. Not surprised at the sp reaction as this is still the start of the process. Reckon need all three wells perforated and at least one stimulated before the concept is confirmed. Would of liked a timeline on this.

Edgein and HarryWH - two very good posts, thank you. I was in i3e when they were producing 11k bopd in Canada and the sp dropped to 3.6p only 2 years ago. It's been weak, as have all oil stocks, the last 6 months but it is still trading over 21p. These things happen in the market in junior stocks, it's a time to load up. For me, this news is the first step of what I was waiting for. Verification of the concept. It needs another well or two and for this one to be completed but the signs are there. I'll keep buying monthly at these levels.

Share price starting to reach that zone where it doesn't make sense. What does the board need to do? Are they too cautious with expansion? A couple k added over 2023 isn't too exciting. Most pi's on aim want big bucks so dividend, even a large 10%, isn't enough to entice them when there is jam next door. Should i3e take on some debt? Open up clearwater play more, put in a development? If payback is 9 months then the debt shouldn't be an issue. It all feels too Conservative this year in comparison to those gone.

Brent 86, WTI 81 has bounced strong since the new year. Only time before i3e catches up, other oilers starting to see the benefit already.

There is no doubt, even with the weakened oil and gas prices, i3e should be trading at 30p+.

Copl has been about my worst investment decision. Have been in a year or so from 30p, have topped up some at these levels but not substantially as think there are a lot of things I do not like. However, there is still promise. I'm giving Q1 to see what progresses and will then reevaluate. Currently, the only reason I hold (as has been the case for a while) is Arthur's very large directors purchase in the open market. He did not need to do that and it was a large sum. It wasn't just a token gesture to reassure the market. He has put his money where his mouth is and that is always the best sign when looking at who's running the company.

When you see how tight the planning is with these assets, it's clear the efficiencies brought by owning adjacent blocks on the licence,allowing longer horizontal wells. Not surprised there's been offers. Given there is so much to drill in Simonette and Clearwater, and i3e only tickle at it each year, I do hope the board manages to do a hefty JV or sell completely one area.

Any JV deal is good imo. People need to get realistic and stop calculating sums based on 1 billion oip. A jv partner won't pay anything near the numbers some are suggesting and yes our current sp will be a large part of that. Personally, I'd be happy with 50% jv with a free carry on first £100-150m spending. It seems cheap giving 50% for £50-75m but it's not unreasonable and will set copl going.

Dividend yield was 9.7% on announcement. Currently sits at 8.5% due to increased sp. Just divide 2.052 by the current share price to work it out.

Funny people happy with 35p, could of sold for 34p earlier in year...