Member Info for Tessellate

2 trees and wellheads ordered from GEO (delivery May and August 2018) Tubulars contract awarded to Tenaris Well Management and Operator contract in placed with Petrofac Other key supply chain contracts being aligned for H1 2018 drilling and H2 tie-in

Horace, that is not true. Contracts have been placed with Petrofac and General Electric. It's in the presentation.

what if it does? Not sure what you're asking here.

10 quid is a mcap of 350m...not exactly the stuff of fantasy for a company producing 10k bopd.

I would agree that it's undervalued at present. AIM share prices have a tendency to overextend, and when you also consider the tiny free float, it could end up surpassing our expectations. Let's hope everything falls into place and the story starts to get out there.

It didn't take long for the arguments and tedious accusations of ramping/deramping to start. The valuation of an oil company is a fairly complicated undertaking, and is not simply equivalent to the value of the funding agreement. The safest approach is probably to use the implied valuations supplied in the presentation.

The way I interpret is that we will receive a funding commitment of up to $200m, not money in the bank like an equity fundraising. From memory, the liberator production wells/tie in only require $41m. Whether we receive the rest of the funding is contingent on getting the additional licence area etc.

1070 over on UKOG. Love how under the radar this is.

Blue Horseshoe loves i3E... wrong film.

the last RNS did say that JV discussions were at a "mature" stage, so could well be.

Check your specific terms and conditions. It may well be that your contract states that you take risk of them not being able to settle, but equally they could be trying it on!

No, that isn't how it works.

Hi guys, you will be getting 80% of your i3 shares from tomorrow - your brokers should have been informed. You will get the remaining 20% when Cora lists, which is expected to be around September. Amanda does not know how much of Cora we will receive at this point in time. There was an option to only distribute 50% of i3 shares now in order to get a larger piece of Cora, but Amanda thought that thug would be unpopular with shareholders. I can't remember the reasoning behind this...something to do with the method of financing.

The Mercure's quite near my office, so I'll probably go. I've just sent the RSVP. I'll take some notes and report back to you all.

Don't underestimate the benefit of being in at this stage. Not an opportunity us lowly PIs often get.

and the share's not bad either...

I'm in with an initial 250k shares. Good prospects, no baggage and limited downside.

well spotted...probably explains why we've not heard anything.

How likely do people think that it is for i3 to start trading on 26th? Looking at the LSE IPO page, it says that this is estimate. Don't think there's been any further news from i3, and (from memory) this date isn't referenced in the announcement on their website. I sold most of my GWIK shares after the initial fall from grace, but bought a smaller number back at around .007p. Hopeful of a decent uplift, but also excited by the potential of i3, and will be increasing my holding once it lists.

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