Member Info for PanamaPete

Is this a Schrödinger's cat moment. Do not look at the price & you have made neither a profit nor a loss.

Probably a reaction to the COP28 talks about agreeing to transition away from fossil fuels.

Meanwhile, business as usual.

https://www.bbc.co.uk/news/live/world-67674841

Expecting 2024 Budget, Guidance & January dividend declaration on Thursday 21st Dec (a day before the Winter Solstice).

Worth re-reading the RNS from 22nd December last year (2022) to see how expectations fell a little flat this year. Despite weak O&G prices, the hedging will provide some support and winter may yet materialise.

I think the January dividend of 0.2565p will be honoured. Personally, I would support a 15 - 20% cut in the dividend if it would support the capital budget going forward. An 8% yield would still be very reasonable. Perhaps a shareholder vote would be in order to demonstrate Majid hasn't forgotten his PI base. GLA

I feel a purchase is imminent as under current O&G prices it may be cheaper to buy rather than drill. This was part of i3e's strategy. Buy low, drill high. They have the CAD$ 25m accordion facility to draw on. They should also refinance at a reduced rate next year to reduce costs. Either that or a cash rich predator will come along & do the same & clear the outstanding loan amount.

"I've given up on the commodity. It's a 6 D scam. This is a game for superpowers to play, not you or I or I3.."

And yet you are here.

I'm certain Majid is looking at ways to monetise the reserves more quickly. It's like owning a development plot but not having the funds to build the housing estate. A deal will be done & I'm looking at >12p very soon. imo dyor etc.

Just added another 100k. Nothing to stop them re-financing a year down the road at lower rates or maybe extend the loan to reduce monthly payments or both, especially if this will accelerate production growth. Perhaps 2024 will be a better year especially with the new LNG plant mentioned.

All being well, there should be a 0.2565p dividend payable in January but it has not been declared yet.

Makes you wonder whether anyone has caught a glimpse of tomorrow's cheese & whiney party (sorry, presentation) in Mayfair. Got to be a large accumulation here with all the AT trades.

https://www.proactiveinvestors.co.uk/register/event_details/435

This is also well timed for next Thursdays Proactive One2One to demonstrate to their audience their belief in the value of i3e. It's also hopefully at the low point now.

https://www.proactiveinvestors.co.uk/register/event_details/435

Options

Nothing to stop anyone buying at these lows while stocks last. I added yesterday too. Price had just got very silly in a Pythonesque kind of way.

https://youtu.be/M8VAZsYlt2Q?si=BFt7uZDYHeiUc2NB

I3e, best Black Friday deal around.

I was thinking feeding the Christmas cake with cherry brandy.

They could of course drill more wells with some of that loan money not yet spent but Majid is working on his pièce de résistance.

Https://oilprice.com/Energy/Crude-Oil/Chinas-Fuel-Export-Quota-Could-Spark-Global-Supply-Challenges.html

Https://oilprice.com/Latest-Energy-News/World-News/Oil-Spill-Shuts-In-3-of-Daily-Production-in-the-Gulf-of-Mexico.html

It has no significance. The 10 minute opening auction from 07:50 will set the price

Just a reminder that Majid holds 9,734,609 shares.

His last purchase was 196,318 at 12.7p/share.

https://www.lse.co.uk/rns/I3E/director-dealings-7ym15coo4y7xqu0.html

Also, John Festival 3,072,360 shares. Last purchase 470,000 at about 13.8p at the time.

https://www.lse.co.uk/rns/I3E/director-dealings-x509dodrhvit0qh.html

+ Jason Dranchuck recent 200,000 shares at about 12.47p.

https://www.lse.co.uk/rns/I3E/pdmr-dealings-zafexdcqpcvwa0d.html

I'm sure all are keen to see a recovery.

I suspect a deal is in the offing. (imv dyor caveats blah blah not a recommendation etc)

Correction, meant G_G_G, not Stas, apologies to Stas.

G_G_G - "They're clearly not betting on mgt doing anything to promote the company"

Don't forget the cheese & whine party on 30th Nov

https://www.proactiveinvestors.co.uk/register/event_details/435