Member Info for pauldrayton

News next week I'd have thought.

https://www.voxmarkets.co.uk/articles/finding-opportunities-for-growth-in-north-sea-offshore-oil-a2d9d95

Neill Carson interview.

I think they've done too much work with suppliers etc to delay this any further, plus they need to replace the Catcher production which will be in decline in the early-mid 2020s. They want full sanction in the middle of next year because their balance sheet will be looking much stronger then if oil prices remain steady. FID in the next 6 months, with full sanction about 10 months away imo.

From PMO Investor Relations this morning which confirms that I said last night.

They said it's a poor article from the Telegraph and Demichelis hasn't spoken to them for years. They don’t have the funding right now but the process is ongoing as before - they wanted to get the supply chain contracts in place for all major contractors first and they will update the market on Thursday in their results. Securing funding by year end remains the target as before.

Nothing has changed.

Good post Brightside, and you're correct.

As I said below, expect an update from PMO this week saying nothing has changed.

The article is mischievous on several fronts. Goodness knows why, maybe they're short of stories.

PMO will confirm this week that the situation hasn't changed from before. Standard Chartered were only appointed 6 weeks ago. They weren't expecting funding to be sorted until later on this year and that remains the case. The article is scaremongering rather than accurate.

Take it or leave it, but that's the truth.

I'm not saying that funding is guaranteed, but nothing has changed from any of PMO's previous statements.

I don't think derampers will have any effect on the share price here! The simple fact is that a large holder has been offloading to make a decent profit. Fair play to them but it doesn't reflect the company or its value. The beauty of I3E is that there is a lot happening in a short timeframe. 30th round license application news, funding news and then production all happening over the next 6 months (the first two happening within the next month or so). If I3E has a market cap of �25million when it's pumping 10,000boepd at $60+ oil prices whilst retaining 67%+ of its assets then I will be extremely surprised! Nothing's ever certain but this looks a very exciting company to be involved in over the next few years.