Member Info for PanamaPete

$50m would be about 225,000,000 shares at CAD $0.22/share, a dilution of 19%. Could take the share down to 10p.

Personally, I've never given a real reason when I left a company.

Do they deserve credit - no they got lucky as did many early investors here. Seems to me they had been sailing far too close to the wind & when the direction changed they got caught off guard. What was the real reason for Graham's departure ? Maybe conflicting ideas in the boardroom. To think of raising any further equity by dilution would also be madness at 13p. Perhaps instead of raising the dividend, surplus cash could have been put aside for the debt repayment. Doesn't make any sense to me. Hope for the best, but expect the worst & prepare. I think the reason some want buybacks is in the hope they can exit at a better price. I don't understand why they would want to buy another's asset if theirs is so good & with PoO & gas rising, it would be at a premium.

I'd rather they increased production by abstracting oil & gas from their own abundant reserves they were so proud to trumpet.

You missed this Tony:-

"Equinor kept its dividend and buyback policies despite the lower earnings."

Except it says dividend of 15.69% is not well covered. This has been addressed & i3e is not paying 15.69%. At 13p the dividend is a well covered 7.9% provided WTI 72 & AECO 2.60.

AECO futures for Q4.23/Q1.24 looking to be over CAD $3.0.

Scroll down to bottom graph

https://www.gasalberta.com/gas-market/market-prices

Could you be more pacific.

Tony, I don't dance to your fiddle. You have already called Jolly a liar & questioned our integrity. The fact you have sunk to personal insults says a lot about you.

Https://www.reviewsolicitors.co.uk/greater-manchester/manchester/barings-limited#reviewSources

Tony, what part of full commodity cycle don't you understand re dividends & capex ?

Accept I might have got Toscana's 25,000 shares mixed up with the 9m warrants exercised by undisclosed Loan Note holders as per RNS 25th April but I don't put everything down on a spreadsheet.

This company now offers an uninspiring 8% yield. I have funds that yield better than that.

Oh yes, I'm still holding but reduced today as there are other opportunities.

"Nothing has change fundamentally with the Company - only sentiment and trust"

Wow, like trust isn't an issue. Let's just ignore that one for now.

NOI forecast has halved - that's a pretty big fundamental.

Oh & what about those loan notes that kind of got forgotten in the bottom drawer until the last moment.

And also, those shares they forgot to admit to trading, about 5m, wasn't it. It should be on your spreadsheet

somewhere Tony.

Tony, if I did email the company, I certainly wouldn’t share the answer with you, as you know it all already.

Tony, see if you can work out what % of 21,000 (boe) is 5000 (boe) & then ask your question to the company. This is one of JD's share option targets.

"But running spreadsheets and raw numbers whilst being great is not the be all and end all. If I3e announced a boost in production by 10% will do far more than buybacks imo."

Couldn't agree with you more Jolly.

A recording of the presentation: I3 ENERGY PLC - Investor Presentation, along with responses to questions that were answered by the company are now available for you to review in the meeting archive.

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Tony, all the facts in the world didn't stop the share price crashing. Share dealing is not just about facts, there is a lot of emotion & mis-direction involved. All opinion here is valid even if it doesn't concur with yours. You just can't help yourself trying to put people down can you.

Patronising as usual.

Three idioms in one paragraph - tricky.

I assume court approval for reduction of capital. This could be a couple of months if all goes to plan.