Member Info for tomhuk2000

Great news and worth the wait.

As planned, I’m holding my position until the farmout news comes out alongside the Canadian tie-in and heightened production. If this rockets today I’ll be tempted but will hold.

This is why the dividend is a master stroke by the BOD (despite my initial reservations) as it will insure holders hold and will encourage long term money to stick rather than continually reap on 10% rises.

Excited to see the market reaction!

Agreed, however even rock bottom Hurricane Energy has quite large short positions open.

Fingers crossed for this RNS!

I’ve just done a sweep of all my holdings to check the short positions and their recent changes. Interestingly no one is shorting i3e. That is very encouraging.

GLA

Justbe

A few members of this board emailed the BOD asking for an update.
The BOD eventually replied to them reiterating much of what they said in their December 2020 interview and confirming that they were on course more or less.
There was no “select few” favouritism going on. I didn’t receive an email because I didn’t email them, but the ones who did, did.
Very simple Kane, No Conspiracy against you or other holders.

Let’s hope we can put this one to bed and move on.

When I did a hashtag search for i3e there was a flurry of stuff over the weekend and not just from “Small Cap Picks” lol

One of the posters is @RedditDeluxe they seem pretty hyped about it. Although not sure how much traction it’s got on Reddit yet.

It’s probably nothing but interesting to see the GameStop crowd taking some notice.

GLA

Some Reddit Trader on Twitter is ramping the sh*t out of I3e.
That would be a welcome, if hysterical, boost to the SP!

GLA and have a good weekend

I must admit the last 2 disastrous posts from Hurricane Energy (90% reserves Downgrade... Ouch) were on a Friday. Also Caspian dropped their bad news today too (forced to sell their 1250bpd at $6 due to Kazakh market... Wince)
As much as I hate to generalise I would sooner have a Monday RNS lol

It was just a passing comment in a DM on ADVFN.

It was a funny aside on his part based on total speculation and in no way based on any facts.

I cast it aside without a thought, however he did make me think about what the company is worth.

Let’s kill the rumour right here before it gains traction. I did say in my original message that it was complete pie in the sky and Unsubstantiated but just to hammer it home, I’ll say it again.

I would hope drilling and producing would take priority over any further acquisitions. Unless said acquisition was agreed months ago I think the current oil price would make any new ones far less attractive.

Oddly enough on another board I heard a crazy rumour that the reason for the RNS delay was due to I3E being bought out. A totally Unsubstantiated claim but it did get my thinking what the price would be if this were to happen.

Two more trading days left in January... will we see an RNS?

I reckon the RNS’s will go as follows:
1st Feb - Production update
Early Feb - News of any Canadian acquisitions if there are any. FCF.
Late Feb - Dividend announcement
Late March - Farm out.

IMHO DYOL

GLA and stay patient

I think Bybrook bought in after the relisting late summer 2020. This will have taken their average down a fair bit. Does anyone know what they have averaged down to?

Thanks Tony. I wasn’t aware of the amount of shares at 1.25p... it was before I bought in at 12.5p in Nov 2019.

Good post though... hopeful for the near future

In a recent interview Graham Heath admitted it would be a hard to get back to their former highs, but I think this is more due to the share dilution to 700,000,000 than the companies anticipated future performance.
Long term, I’m holding for 25p+ whether this takes 3 months or another 12.

So, considering all the potential I3E has in its Canadian and North Sea assets and with a dividend offer and farm out, plus strengthening oil prices, where do you all envisage the SP sitting by the summer? (I know it’s a shot in the dark)

Considering this stock peaked at £1.25 per share within the last 24 months at a point when all they had was serenity and Liberator.

The problem, since the dusters were drilled on the edge of the fields and the SP plummeted, is trust and sentiment.

If that trust and confidence was restored (through a dividend and solid true to their word performance) then surely this transformed company with the Canadian assets, dividend and a strong forward momentum surely has to be worth more.

I3E was worth 1.25p per share (admittedly at a less diluted rate of 108,000,000 shares). Investors bought in and the market made it rocket to that price. Can it happen again?
With the dilution of 700,000,000 shares we may and probably won’t hit that high again, but surely the transformation of this company merits a multiple rerate?

Opinions welcomed

As ever all IMHO, DYOR and Good luck

Glad and heartened to see it stay above 6p... most of my watchlist is in the red by 3-5% .

Willing on the next RNS! Have a good weekend

Before I get accused of de-ramping, I, up until recently had been a long-term holder with quite a significant amount of shares.

The current news is positive to a degree, however I still worry about that water cut. I was having sleepless nights about six months ago when it was 19%!

Last summer, under Beverly Smith, the production rate was 15,000 BPD and momentarily rose to 17,000 BPD. At 15,000 BPD the water cut was 19%. The current rate of production has been reduced significantly to 12,500 BPD in order to manage the water issue. However, even at this level the cut has increased to 25%.

Based on their figures from the summer, to breakeven they would have to produce 10,000 BPD at $40 per barrel.

If they have to manage this water cut with a another reduction in production then this profit margin they currently have reduces significantly. Thank goodness the oil prices have risen!

I have been assessing the potential to buy back in under the right conditions. I think there is still profit to be made here. However, the current news isn’t enough for me to reinvest in hurricane energy..

GLA

Interestingly, sells are outweighing buys massively today, but the price is still holding. A good sign perhaps?!

That wasn’t my opinion, it is the projection given by Goldman Sachs.
Personally I think we will see $60 by summer. From my perspective any increase is a positive for this and all O&G stocks.

Goldman predict Brent to reach $65 by the summer. Nice !

£116k bought - £0 Sold

Quite a ratio