The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Investor meet - re share price not reflecting current value compared to peers, bod point to independant broker reports that go into detailed value reserves, etc and current view is sp should be around 20p+ the bod feel that with other catalysts sp could or should be even higher ...
Investor meet- targeting 8 oil wells first as oil prices are high and will target 7 wells later in year as gas prices rise, the plan is flexible and if gas does not rise they can move to drill oil instead with the aim of maximising profits and return on investment...
Added to I3E at 10.5p.............Brokers increase target to 21p from 16p on new drilling programme,
https://twitter.com/surprised_trade/status/1785977970236047504
Investor meet in progress state that I3E is currently trading at 50 to 70 percent below peers and regular news flow expected to add value going forward, no debt drill programme upcoming , gas and oil expected to rise over coming months.....I added at 10.5p this morning....broker has 21p target :-)
Indeed, the drop from 2000p+ is simply on a potential 2 year enquiry to pricing and transparency of pricing, nothing material has changed.
CVSG does not generate excessive profits/margins (like banks/insurance and others do) and for those who understand the industry as stated in previous posts there is a shortage of vets and the cost of products/medicine etc is not cheap and I saw one comparison in the media that stated the equivalent/similar products for humans can often be bought cheaper than those precribed by vets, totally omitting the fact that the law prevents this practice !
Fair enough the CMA take a look at the industry, however, as many have suggested, vets included, they will find the cost of vets, training, premises, insurance are l supported by current charging and practices with a likely recommendation for displayed standard pricing where possible. Vets and pets is an expensive business, the shares for the business are currently far from expensive though :-)
"Norway Plans to Develop a New $570-Million Oil and Gas Field - ''The world will need oil and gas for many years to come, so it is important that companies continue to develop new projects and help sustain long-term petroleum activity'' Minister Aasland said in a statement
https://oilprice.com/Latest-Energy-News/World-News/Norway-Plans-to-Develop-a-New-570-Million-Oil-and-Gas-Field.html
Here's bit of the broker report....
Financial performance for the quarter was skewed by a substantial underlift, FX effects, and a high deferred tax charge, much of which should rebalance in subsequent quarters
Seplat received US$95m in April for volumes lifted in March and cash balances are expected to normalise in the second quarter
The NMDPRA increased the domestic gas price by 11% to US$2.42/mcf and there were other positive institutional developments including fiscal incentives and greater autonomy over contracting which continue to speak to the supportive attitude of the government to the oil and gas industry in Nigeria
... and there is clearly a buyer in the background as they will offer above bid (they were all day friday on dummy sells and happy to take any number of shares) and for those selling today it appears the same. typically as stated below on a drop of 5 per cent plus this would go NT, not today, they will take any number of shares on a dummy sell, that is typically a sign of background buyers eager to secure .
I understand some folks confusion looking at the rns and the initial figures, however, as stated below and explained very well SEPL just gets paid laterand importantly production at current oil prices is at the upper end of guidance, MPNU awaits etc...every reason to add to holdings not sell imo ;-)
Final dividend of 14p per share (ex divi 27.06.24) increasing total dividend to 23p & started a £15m share buyback, in addition they are exploring opportunities outside UK (less tax)...with current and projected Oil and Gas prices looks like SQZ have their 'mojo' back 👍
Brokers increase target to 21p from 16p on new drilling programme, sp falls 10% 😳....markets can be irrational at times
''Gas prices are expected to strengthen dramatically based on the futures market pricing. Oil prices are robust and likely to strengthen further in our opinion. We believe that i3 Energy has consolidated and is now maintaining its balance sheet in
preparation for scaled up growth in order to produce into a significantly higher natural price. Our updated fair value estimate of 21.2p reflects our positive appreciation of i3 Energy.''
https://twitter.com/surprised_trade/status/1783503677832990790
Concerns are showing up in the futures market re gas prices. The contracts for next winter are the most expensive on the curve. Like in Europe, most of the Asian LNG buying is done during the heating season in the northern hemisphere
https://twitter.com/surprised_trade/status/1783539479178776630
Concerns are showing up in the futures market re gas prices. The contracts for next winter are the most expensive on the curve.
https://twitter.com/surprised_trade/status/1783539479178776630
Concerns are showing up in the futures market re gas prices. The contracts for next winter are the most expensive on the curve. Like in Europe, most of the Asian LNG buying is done during the heating season in the northern hemisphere.
“If we look at the forward market for next winter, there is a risk premium,”
https://twitter.com/surprised_trade/status/1783539479178776630
Guided 2024 exit production of 20,250-21,250 boe/d reflects the back-end loaded nature of the company’s expected drilling effort – with annual production guidance for 2024 in the range of 18,000-19,000 boe/d. We see the company’s 2024 drilling efforts culminating in strong production growth into winter 2024/2025, just in time to capture the robust
natural gas prices expected for that period. Critically, the futures market for North American natural gas has found its floor and, based on the futures market, gas prices can be expected to increase significantly in the mid-term.
We are adjusting the basis of our fair value estimate to i) use our 2025 (vs. 2024) debt adjusted cashflow (“DACF”)
estimate as the denominator for our 5x EV/DACF valuation and ii) align our gas price forecasts to the futures market.
We also highlight that the value accretive disposition of non-core royalty interests for $US 24.8m announced on
17 April 2024 had built upward backpressure into our fair value estimate, which we flagged at the time. As a result of these changes, we are increasing our fair value estimate for i3 Energy to 21.2p from 16.2p
i3 Energy confirmed its commitment to pay its annual dividend of 1.0260 p/sh (via four quarterly dividends of 0.2565 p/sh). We highlight the generosity of the resulting 8.2% dividend yield based on the company’s closing price yesterday of 12.5p
Gas prices are expected to strengthen dramatically based on the futures market pricing. Oil prices are robust and likely to strengthen further in our opinion. We believe that i3 Energy has consolidated and is now maintaining its balance sheet in
preparation for scaled up growth in order to produce into a significantly higher natural price. Our updated fair value estimate of 21.2p reflects our positive appreciation of i3 Energy’s judicious strategy, combined with the inherent benefits of significantly rising natural gas prices in North America