Member Info for tomhuk2000

Well I’m glad my comments keep you amused GGG.

I was initially thinking of other board posters who said they’d be tempted to take 20p a couple of months ago. But you’re right, you also floated that figure as well.

It will be interesting to see how it pans out. Our portfolio would look very tasty to a mid tier oiler on the up.

That could well be a possibility. We had discussed what price they could be bought out prior to the acquisition , A few figures were floated such as 20p.

With the new Alberta acreage, I wonder what the fair price would be now?

At this progressed stage in the company, they really could do with a PR consultant on board.

They have improved of late, but with the anticipated intensity of news flow forecast for the coming months it would be good to have a strategy in place, also would help with drilling Majid/Graham with a more dynamic script for interviews and driving more PR coverage in larger platforms and publications.

Morning all,

I am very much hoping the BOD release an RNS on the morning of 16th July to try to bolster any uptick from the ex-div.
Probably the most imminent news would be regarding the success of the Clearwater drills. An update on that would help, although I doubt we will get any production figures until the end of the month.

Next up will be Wapiti and Simonette - or, you never know, the Serenity farmout!?

I think at this stage the Alberta Acquisition might take a while for new news to come through as they assess exactly what they have in terms of assets and develop a plan… unless they have more “low hanging fruit” in terms of reactivating existing wells etc.

Exciting times coming up, and most importantly a period of time that can be used to focus solely on production and isn’t consumed with laborious administrative work like the back end of last year and the run up to Feb 2021.

GLA

Goodnight GGG. Some news tomorrow wouldn’t go amiss

I’ve literally tried everything I can to show respect for your opinions and to take them onboard as objectively as possible.

I’ve also tried to be patient when you spent almost the entirety of last week repeating yourself only to then profess that no one was understanding what you were getting at. Everyone gets it!

I can’t claim to speak for everyone, but quite a few people on here who you disagree with know what your opinions are and have decided not to agree with them as is their right. They have looked at the numbers and have concluded that they are going to approach the issue differently. It’s nothing personal.

I’ll not change my view, as my view is based on my own research and doesn’t align with your view.

No one is asking you to change your viewpoint on this. No one is asking you to align your views with theirs. No one cares what you or anyone else really thinks.
Therefore you must accept that others won’t always fall in line with your viewpoint and agree with all you say.
They just don’t want to hear the same thing over and over. I’ve tried to be diplomatic but in plain speaking there really isn’t anything left to say that we haven’t already heard.

GGG

I’m utterly speechless.

One last time, debt may well have been a good way to go, and it may well have been better for the current SP. no one is disputing that.
But the bod decided not to go down that avenue. That implies it was either not an option for them or not possible, or the longterm the metrics (in their opinion and with their future plans in mind) were in favour of a placing.

Now, we know every angle of your argument and all of your thoughts on this. And with all that taken fully on board, some of us are still happy with the outcome. It’s just a difference of opinion.

Please let us move on

Hostage negotiator

I agree Pete.

It’s fine that we have differing opinions. One thing we all want is the success of the company and the SP to rise.

Night all

Pete,

Please…. We need to move on from this. Please see my last post. I’ve tried to state that we understand your and his thoughts entirely, it’s just that we have a different view of whether it’s a good thing or not. Agree to disagree. That appears the only thing left to do.

GGG has made some very valid points based on info and past experience. Where as you PiratePete offer no reason, evidence or thought. You are here seemingly to stir the pot, rile people and then stand back to watch GGG have to defend his opinions all over again.

This must stop, we must be able to accept our differences and move on now… please

GGG

My hypothetical post about last years timeline was indeed hypothetical, but it was based on the factual relationship between RNS’s and the SP over the past 10 months. I posted it to try to steer the discussions on this board onto more interesting and future looking areas. Also to show how the SP reacted through that timeline to offer some perspective in our current situation.

I can’t put it more simply than in my last post. But I’ll try again

1. We all know you think the deal is accretive and a good one.
2.We all know you think the financing wasn’t the best approach and that you would have preferred a debt approach.
3. We all know you think that the SP won’t rise as fast as it would with a better form of financing or not doing the deal at all.
4. We know you feel pi’s have been shafted

We know all of this. We cannot do any more than let you know, that we know exactly what you think. The choice now is, to stay or go.

The number of us who have looked at the numbers and decided… yeah ok that’s actually alright, we are going to stay invested and start discussing the exciting drills and production plans coming up.

There is nothing more I can do.

All the best

Well Tony you’ve got your work cut out here.

GGG, can I just say, all of your questions are hypothetical scenarios. How can Tony or anyone answer these with anything more than conjecture?

- There may have been a better approach to financing… But if there was why didn’t the bod choose this method over debt. It’s not good enough to accuse them of lining their ii mates pockets. We need harder facts to pin down their motives.

- If the bod does issue more shares for a really good accretive deal in 6months or whenever, the share price might dip. But as long as the metrics, just like the Alberta acquisition and gain/Toscana, outweigh the negatives of dilution, we will see a share price recovery from the dip and a progressive raise to higher levels.

With regards to the other questions, we simply just don’t know. All I, and many others, are saying is that the company is now stronger and safer moving forward into the future.

We are at a turning point and we simply must move on with the dialogue here.

It’s quite simple,
1. Some people don’t like the way the financing was done and thought debt was a better way forward but overall agree the deal was a good one on some levels. They also think the pi’s have been hard done by.

2. The other lot of people were cautious of the deal but when researched thought the benefits outweighed the dilution and that having only $27m debt (once all is said and done) is very appealing.

3. The impasse is this: if you think the issue with the financing damages the integrity of the bod to the point it’s impossible to look past then that should outweigh the ability to invest in this company.
If it doesn’t and you can still see potential then stay invested, or even top up and look at the positives coming up.

Really, I can’t expand on the subject any further. We need to look at other angles and the company’s progression. Drilling, reassigned wells, etc… interesting exciting things.

GLA

One last thing to add, then I promise I will stop wittering on.

Due to this imminent period of rapid growth and therefore intense and regular news flow. I am convinced that the aggressive increases in production and momentum will outweigh the compromises of the method of finance and subsequent dilution.

And for me, as long as the deals moving forward are significantly accretive I am more than happy for the BOD to continue with this expansion.

GLA

Cont…

I’m supremely confident in i3Energy!

Out of the 10 months of waiting all the action happened in the last 4 month period… a period of growth and momentum we are right at the start of.

I urge all investors not to worry. It’s my own humble opinion but the data is the data and value will out.

The biggest thing that flatlines I3Energy’s SP is no news and there will be plenty of RNS’s in the coming weeks and months

GLA

Hi there all,

I appreciate all your concerns and your caution with regards to the SP recovery. It did indeed take a long time from readmission (28th August 2020) to gradually build to 16p+ (Early July 2021) in fact 10 months , and soon after readmission we slumped to below the 5p placing price.

One thing to consider is the complexity of those 10 months and the scarcity of the news flow. We all complained profusely about i3’s PR machine and the lack of communication.

Let’s look at this analytically and compare the RNS flow to the charts.
The news on 23rd February provided our 1st catalyst to break out from 6p. This was the news that production had exceeded the BOD’s expectations and the new Noel wells were expected to provide 500boepd. Other than that we had heard everything else before in the November 2nd RNS such as intention to pay a dividend and production of over 9000boepd. This helped drive the price to double to 10p+

Then it goes quiet until the next big news the 31st March when the Operational and financial update hit stating Noel was exceeding production at 650boepd.

The price rose and then faltered due to delays owing to the complex nature of the capital reduction to allow the dividend. If you all remember, once again we were frustrated at how slow the news was and we watched the price wobble… Remember i3 releasing news right on the deadline of when they said they would and then missing the deadline regarding the dividend (through no real fault of their own due to the tricky nature of the capital reduction exercise)

The next jump from 9.4p up to 12.3p and onwards towards our 52 week high in the upper 16’s , came with the 17th June dual RNS - a operational update and Canadian reserves post. This covered the wapiti plan and stated that final court confirmation would hopefully go through on 29th June.

On 29th June the courts approved the Dividend and soon after i3 announced the Simonette deal. This propelled us the last few percentage points to our peak.

As you can see, the 10 months from re admission to 52 week high (5p to 16.8p) wasn’t clear cut. The period from 28th august to 23rd February was very quiet with regards to hard news, it was a period of preparation and administration to pave the way for this period of growth we are now in. What drove us up in terms of the SP was a small period of intense activity from 31st March onwards

From the news that drove us to 16.8p, only the Noel wells & dividend have been confirmed and reported on as results rather than plans that are being worked on. We are still waiting to hear results of Clearwater, wapiti and Simonette.
In the coming weeks & months the same intensity of news and production upgrades is going to continue and our momentum will rapidly regain its aggressive rise. But this time we will have a more diversified and derisked company behind it.

I too found it hard to say goodbye to 16p, but looking at our past records and our current data I’m sup

Hi Tony

That’s just the public blog. I can’t justify £95 for the private one.
Although it’s the first time I’ve noticed him refrain from a subtle dig at the management. Maybe he’s bought back in?

Oil Man Jim’s Sunday Blog (or copy and paste column):

“i3 Energy (AIM I3E TSX ITE) announced an Alberta acquisition plus a placing to finance it. The company has signed a definitive agreement with Cenovus Energy to acquire petroleum and infrastructure assets within i3’s core area for a total consideration of $53.7 million. Funding of £40 million ($55.4 million) has been raised at 11p per share. The acquisition includes approximately 8,400 boepd of production, 79.5 mmboe of 2P reserves and an inventory of more than 140 net drilling locations across approximately 212,000 net acres.”

Nothing new or informative, but interesting that there’s no hint of negativity. I thought he’d jump on the dilution issue like pigeon on a chip. Very restrained!

Very much looking forward to the first bout of production news and to see how it tests the SP.

GLA and enjoy a beer with the game later !

Morning all,

Apologies if this has already been raised, but with all of the excitement the board has had a lot of traffic and I may have missed it.

Do we know what institutional investors bought in and how much each got?

I’ve not seen any TR1 announcements, just intrigued as to who holds what. Particularly Bybrook and Slater.

Thank you Miss Grey.

Well, to lighten the mood and based on your assumption that the share price behaves like it has over the past fortnight I’ll stick my neck out and make a prediction. (Ideally fastfood would do this and to great effect!)

On receiving the RNS’s regarding Simonette, Wapiti and most imminently Clearwater, we will see a 10% rise for each of those. Taking us to: 15p (end July/start of august)

Additional production and drills/reassignments from Alberta/other areas will drop in the next 6 weeks too. Adding another 10%-20% raise: 16.5p - 17.5p

Im going to really stick my next out and say that the Serenity farmout will be announced by the end of August. Bigger 30%+ surge here: 22.5p

It may be wishful thinking and pure conjecture but just a bit of fun. We have a stack of news and production upgrades coming up so you never know… Also I think i3 is due a irrational Reddit/Robinhood explosion soon too!

Exciting times !

It’ll be interesting to see how the SP reacts to the first bit of increased production news. That’s our next test. There’s going to be a lot of it coming and steady flow of RNS’s boosts the SP but more importantly confidence. It’s looking an increasingly attractive buy for new investors and big money II’s too now that we offer a dividend and are well above the £100m MCAP.

Roll on the news!