Member Info for tonynorstrom1

I forgot the £90 million Capex - that's probably going to be an additional 20+ wells drilled by the end of 2022 and an additional 5000 boepd plus of production...........nice, very nice. More production, more profits, more dividends !!!!

Just remind everyone how many wells the stock you were pumping have drilled this year and their total production !!

Boltox - leave the maths to people that can count

Price of gas has been exceptionally volatile so the numbers change depending upon when you run them - at $2 gas and $98 Oil. Oil is indeed 50% of revenues.

However, glad you question the numbers as I note AECO gas is gone up to USD 3.00 in the last couple of days ---------even more revenue for I3e than I thought !!!

Also good to note you are following my posts - you must rate them !

Oil is 50% of i3e's production by revenue !

"100% can't be 10%" - correct - well done so not completely stupid! Now you just have to work on putting the numbers in the correct context !

Here's a couple of percentages for you to mull on:

4%------------EOG's revenue as a percentage of I3e's
100%---------The increase in EOG's SG&A over the next 12 months or so (IMO)

Oil provides about 50% of I3e's revenues and NGL's about 34% - Gas is only 16%

i3e's gas revenues is about $48m / year v EOG's total revenue of about $10m - I think this just demonstrates how strong i3e's cash flow is.

also just checked the average price of WTI over the year - surprisingly it is still around $99. So if Botox would like to calculate the revenue for us - he should be using about $92 (99-7.50) if he can steel himself to stick with the facts that is.

12517 (Gas)
5086 (Oil)
6299 (NGL's)
----------------
23902

Might be a little high on the Oil

Botox - ive already factored that in and i3e is still extraordinarily profitable and paying a 6% dividend - what's not to like ?

EOG on the other hand get $2 less than Brent , do not pay a dividend and have only about 300 bopd production. The fall in the POO must be hurting their profitability more especially due to the low production volumes. Not only that - costs are likely to increase over the year ahead - the SG&A is unsustainably low - you watch it !

I just ran the spread sheet with the additional production and WTI at $80 - they would have to up to 40% of FCF to maintain the current dividend which in my opinion they would do - I don't think they will want to drop the dividend unnecessarily. You should also bear in mind that the POO is still around $95 average for the year todate

This will still leave them with over $66m for development, buybacks etc.

Also took a look at some of i3e's Canadian peers- they have all fallen (the ones I looked at) by similar margins so more a market issue than i3e specific.

As Graham once said - still all the play for !

"this is being held here to let people load up, mms will this go after the fracking news comes" - now that is Daft !

I think Dan White needs to get back to running the UFC and not commenting on the price of Oil. Don't recall him being his negative in the UFC!

Oil is going to 90

I think we need Big Bite Now (BBN) back for this podcast on the 9th - he had an uncanny knack for being able to read majids facial expressions and get the call 100% wrong !

Nearly all Oil Companies are significantly undervalued relative to historical norms - I think the last update took a little wind out of i3e's sails - but i3e are looking to re-gain momentum with the September update and hopefully a good result at Serenity.

i3e still have a little to prove in terms of Investor returns (IMO) - many Canadian peers have committed to pay 50 - 75% of FCF back to shareholders in the coming qtr's - I3E are going a different root i.e. a combination of Dividends and Growth. In the last 6 months, we still have to see the real fruits of the Capital Program - thats why I think the last update was disappointing and why the upcoming updates could be important.

I'm with you DPOW - a nice little share repurchase would not do any harm - doesn't have to be big, but a small buy back with a nice update from Management telling the market how undervalued the shares are would be a nice tonic.

Dividends - with the current oil and gas price - I think they are already paying out 30% of FCF so personally i'm not expecting any increase in the next month or so. I think they will wait to see how oil prices stabilize over the next month or two and then assess at the end of the year.

bubble21 - maybe you do !

and just in case anyone forgot:

26-Aug-22------FCF%----COMPANY
Dearest---------4.6--------Rubellite
Cheapest------45.8-------PetroTal Corp
Mean-----------22.08------Journey Energy
Median---------20.7-------Grand Tierra
i3e---------------35.1--------i3 Energy (4th Cheapest out of 60)

i3e 4th cheapest out of the +/- 60 Companies on the Canadian Exchange based on cash flow yield. This obviously ignores the impact of Serenity which has the potential to double or more revenues over the next couple of years and we still have Simonette & Clearwater.

Remember what WHI said - keep your eyes on Clearwater!!

and I had a "Poppa Dom" yesterday with Green Thai Curry and Prawns !

DYOR

Done the same thing - used the dividend to double up my EOG holding.

i3e's 30th May RNS

"i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that it has entered into a contract with Petrofac Facilities Management Limited ("PFML") under which PFML will provide well engineering, operations management and operator services for the drilling of the Serenity appraisal well on its UK North Sea Licence P.2358 Block 13/23c. The contract allows i3 access to PFML expertise and services for a three-year period. PFML has an existing contract with Stena Drilling Limited for the use of the Stena Don, a harsh environment, dynamically positioned fifth generation, semi-submersible drilling unit. i3 has secured a well slot with a commencement date between 15 August and 15 September 2022."

https://www.proactiveinvestors.co.uk/companies/news/991683/britain-s-small-cap-gas-firms-may-be-set-for-truss-boost-991683.html

an honorable mention. Poster by Troajan on the EOG board.