Member Info for tonynorstrom1

These are actually good lessons to learn. Some investors record their thoughts and emotions as well as the data so when you come across opportunities iagain you can add a bit of perspective.

EOG for example - you have posters now talking about 1.5TCF of gas as though it is already in the bank - superior research - superior results!!!

thank you - ADV was the Company I was thinking about.

GeoChem,

Thanks for that - sounds like you know what you are talking about.

What do you think needs to happen to develop the gas :

1) What are they trying to prove
2) How many wells / cost per well
3) Timeline

I have a small punt on eog primarily for its exposure to Serenity - it has about 5x the torque than i3e. Serenity could be pumping oil as soon as 18-20 months from now if it is unitized with Tain. It would be closer to 30 months if its a large discovery and needs its own FPSO.

The gas Irish Gas assets look interesting but still seem a little way off. Also as you have alluded to - its possible that gas prices could be significantly lower than they are now in a year or two's time although still likely to be elevated and at very profitable levels.

Can anyone help me out with the name of the Oil Stock that tanked several months ago on the AIM. A few on here were invested - everyone was very bullish including the CEO - it was going to be a 10 bagger and then they drilled a duster and obviously the shares tanked and the CEO resigned.

Boltoks - "as for the BIT of gas within inishkea you think is just a little exploration well" - these are your words not mine, I didn't comment on the amount of "Prospective Gas" - this still has to be found and appraised.

Its an exploration prospect and not a discovery - that's what eog call it - so no thinking on my part ( just quoting the Company)

The market has a pretty good idea what 1.5 TCF of gas is worth and currently value eog at about £25m so what does that tell you !

Squiffy - you are correct. Their 1st LNG Plant / Export Terminal is under construction and scheduled for completion in 2025 (LNG Canada - I think the Project is called !) . This will obviously be a big boost for pricing but unfortunately is a couple of year away.

If I was them I would include an Oil Export Terminal (if not already included) as well to reduce reliance on exports to the USA who are unreliable partners.

"Free carry to production on Serenity for a small portion of Ireland perhaps once drill results are in?"

The original Liberator phase 1 development was about a $90m project with a tie-back to the Bleo Holm FPSO. So that means IOG's share would be in the order of $22m (Much larger/more expensive if they prove up 100mmbbl and go for a dedicated FPSO).

EOG paid £7m for a 25% stake in Serenity which is a discovery as apposed to a prospect - you really thing i3e will cover IOG for a free carry on Serenity for a small stake on a gas exploration well - I dont think so but ill have a bit of what you've been smoking anyway !

The Stena Don is only about 9Km from the Bleo Holm so is close to the Serenity / Blake Field !

EOG taken a little bump up this morning - not sure it was to do with i3e - they had some regulatory news on the gas fields offshore Ireland.

Did anyone pick up in the recent EOG podcast where the CEO mentioned that the location of the Serenity drill was moved slightly as a result of input from their technical team !

https://www.bnnbloomberg.ca/market-call/full-episode-market-call-for-friday-august-12-2022~2496579

Worth a listen - Eric Nuttall running the rule over various Canadian Oilers as well as talking about Oil Demand, buybacks, dividends etc - I keep listening hoping that he will give his thoughts on i3e - he didnt but he did mention Gear Energy ( his fund once owned it) which are actually smaller than i3e. I dont think he will buy i3e as only about 7% of i3e's shares trade on the TSX so the liquidity is too small but would be interesting to hear his thought anyway.

Shubham Garg will update his valuation spreadsheet shortly so we will be able to see where i3e sit relative to the entire Canadian space. i3e must be one of the few Companies not yet to report 2nd quarter. When I looked at his numbers for Q4 - we were about 3rd cheapest out of around 50 Companies then after Q1 we were about 17th cheapest. I suspect that we have climbed higher as when I looked at the 1 month chart and compared to about 7 companies including Gear, Tamarack, Baytex, Headwater, Spur and Rubellite - i3e out performed all of these by anywhere from 5 to 20% im sure due to Serenity. I will post the results once Shubham updates his numbers.

you can see what value Tennyson are ascribing to oil in the ground in their latest reportsfor both i3e & eog

not only that sloppy chips - you need to brush up on your math !

Great Analysis as always from our in house Technical expert !!

Thanks Joe - not sure why you are keeping Mum on the "Partner" . For anyone that is interested - take a look at Rubellites 2nd quarter update !

Now that our partner has updated - not excuse now for i3e to update tomorrow !! - lets see.

Stas20,

What's the chart telling you - the SP is remarkably solid on low volume. There seems to be plenty of buyers out there and not many sellers although the SP seems to be in a wait and see mode.

Seeing that i3e are not helping us with news to discuss - anyone still following Doc Jones and his stock picks.

There was someone on here followed him into emo - forgotten who it was - he made a huge paper profit - I hope he managed to lock in some gains since EMO has since retraced from $4 to around $1.

I have a small punt on EMO and a slightly larger one on GASX which was another one of his picks.

Interesting extract from the June Tennyson Report for EOG. Link to full report below:

"Operator i3 Energy recently announced that it has booked a window for the arrival of the Stena Don semi-sub for the Serenity appraisal well, now confirmed to spud in early September. The highly anticipated well is targeting around 17 mmbbls net to EOG, which at US$15.4/bbl (NPV10), would be transformational in a success case. Given that the well is classified as appraisal, there is no independent geological chance of success, however we expect the well to have a better than one-in-two chance of meeting its objectives. Still, should it fail to prove an extension of the discovery, the c.10 mmbbls already discovered (c.2.5 mmbbls net to EOG) is expected to be commercial as a joint development with the
neighbouring Tain field, providing protection on the downside should drilling disappoint. "

https://www.europaoil.com/wp-content/uploads/2022/06/220609_EOG-The-full-package.pdf

The Serenity Drill has three primary objectives which are also the main risk factors affecting success:

1) Confirm the Oil Water Contact
2) Confirm the sand thickness to the west.
3) Confirm the extension of Serenity to the west.

The down side hedge as spell out above is that Serenity already has circa 10 mmbbls of reserves which could be commercially exploited in a joint development with Tain.

apologies - it was a daft question.

I am a recent SH by the way - I used my dividends from i3e to have a punt on a couple of hundred thousand shares.

Do we know what the plan is for the development funding?

I think draft has asked a good question - perhaps biker and boob boom can explain as they seem to be experts.

A development is probably north of $100m. EOG's share is $25 - $30m - please share your research and let your fellow shareholders know what the plan is.

yes nice trade - GGG must have topped up.

https://twitter.com/Energy_Tidbits/status/1516605934809731072/photo/1

Provided to me by Rock Creek Freak on twitter. He has lots of good stuff on his twitter feed including on Clearwater and occasionally on i3e. Check him out.