Member Info for tonynorstrom1

Apologies for the broom handles jibe - tongue in cheek and uncalled for - and if and when I get a job - I will ask trigger where he gets the heads from !

I do like to stick to the facts though !

"you have got a short memory coz it went to 15.5p" - maybe I do have a poor memory but I like to stick to the data and the facts and checking the charts it didnt close over 14p in the uk. In Canada I think it might have spiked at 15p equivalent but then closed similarly at14p and since were both UK investor I think we can call it 14p !! So busted - stick to the day job - Trigger can probably tell you where to get the broom handles !

Patience - LOL

What's happened to "BoooooooooooM!", "16p tomorrow - you heard it from me first !", "back up the truck !", "to the moon - booooom!"

Year end cash 2021 nearly $50m - correction.

Available now on the I3E website. Interesting reading:

1) Dividend for 2022 = 1.2c or about 0.88p
2) Year end cash (2022) nearly $50m
3) Year end cash (2022) approx $110m

Long term oil & gas price assumptions pretty conservative so possible upside here.

Also production growth pretty conservative so likely beat here also.

Yoyo,

If it wasn't for the tree huggers as you call them - we would be sitting north of 20p already with the Farmout signed off (imo). I'm still of the opinion Serenity will go ahead but i'm just making the case that it would not be a disaster for i3e shareholders if it did not. I think the SP seems to indicate a degree of doubt that it goes ahead since the current SP is more than justified by Canadian operations alone.

If they were to sell off the UK assets they would of course have to get the shareholders on board - but they could certainly slim down the UK operations - get rid of the UK office and turn it into a 1 man operation working from Majid's spare bedroom - that was my point. There are many listed Companies in London that have no UK operations.

Minecheck,

I suspect many NS projects will proceed after cop26 - why would they cut back on projects and then import Oil & Gas into the uk from some countries that will have less stringent emission controls than here in the uk.

Another way to look at it is that currently all revenue is generated from Canada - i3e is undervalued based on revenue / free cash flow and FCF and the SP is set to increase in the months and years ahead solely based on the Canadian Assets. The North Sea is the cherry on top of the cake - maybe a massive cherry the size of the cake but still a cherry. i3e could operate quite profitably including for the shareholders without the NS.

In fact currently the NS or more particularly the UK operations is a drain on the Company as its non-revenue producing. Worst case they could sell off the assets, close the UK office and move operations to Canada thus lowering the cost base, increasing FCF / Dividend and hence the SP.

All in my opinion of course - DYOR!

GGG,

Nice to see that you are moving your base up from 11p to 15p - that's a very tasty 36% in 3 to 4 months.

1) "The SP will move up slowly on the same trajectory we've been on for some time." I would encourage people to look at the 6 month and 12 month chart - the trend is quite clearly up. 6 month gain 36%, 12 month gain 196% - is that slow ?

2) "I've said it a million times." - you have - is it not time to change the record ?

3) "Anyone wondering why the disconnect, which is greater than peer valuations, well it's because +350m shares were printed at 11p a few months ago." - this is rubbish - there is no disconnect - I would encourage people to take a look at the valuation charts published by Eric Nuttall on his twitter FEED.

4) "A few more 100-200 boepd wells in Canada may give us 0.5-1p, but certainly not enough to leave 15p behind." - This is rubbish, each 100 boepd will add $2m to Free Cash Flow - add two of these per month for the next year and we will be well over 20p.

5) "but the sp doesn't lie (nor did it last time)" - I agree - refer to points 1 and 3 above.

6) "And it's interesting that Doc feels the same way enough to disinvest from this company for the time being." - this is a lie - how about sticking to the facts, its true he's scaled back but he still holds i3e in his dividend portfolio - he's just removed it from his risk portfolio. If you think that he's made the right call perhaps you should follow suit and save everyone the earache.

Nomad,

I think your wrong on Doc - he's not a trader - he promotes what he believes in and backs it to the hilt. If you look at EMO for example - he shared his research widely when it was $0.45 (CAD) and has continued to buy even very recently up to $1.80 or higher well after he shared his research with a wider public. He's done the same with GASX - he has been promoting this for quite some time and was still buying yesterday.

With i3e he's just taken the view that it wont grow quite a quick as the above and scaled back a little to redeploy cash into his higher conviction bets. Personally i'm still very bullish i3e although it may or may not grow at the same rate as EMO or GASX.

Ark87,

To be more accurate - he did not say he was "largely out of i3e" - he said he's removed it out of his risk portfolio though still holds it in his dividend portfolio. He also said that he may review that at some point in the future.

I agree with your other comments - he does appear to have the ability to find interesting stocks - I bought into GASX.

Cenkmen,

That's not what you said at all - you didn't mention the type of oil and pricing - if people stick to the facts it cannot be ramping or deramping - its just the facts unless you are Donald Trump and then you can use "alternative facts".

I3e actually produces light Oil (Edmonton Light Sweet - MSW) which is the good stuff and attracts WTI minus $4 (aprox) so about $79 at todays pricing. So the information that was posted earlier which you re-referenced about only getting $68 is actually incorrect.

Wazzabuffet - have you read of looked at any of the Company Presentations ?

Take a look at one or two of the presentations from a year or two ago - they have some information on the expected production rates.

Also the last earnings presentation has the Canadian reserves which is likely to increase as ie3 drill and appraise their acreage.

Cenkman,

RNS are formal communications - it doesn't get any more formal than that. Unless they move to a full Canadian Listing - they will in all likelyhood stick with AIM reporting requirements which mean a full year report & interim report.

What is your interest here - are you shorting i3e ? Your posts are almost universally negative and plus you don.t really add anything constructive / substantive including for the bear case.

With regards to another duster being devastating I dont agree - they've found oil so have significantly de-risked the next drill. Even if it were a duster (which is unlikely) - they are reportedly on a free carry. So a worst case scenario would be to sell off the assets, close the UK operations and move over to Canada. There are significant costs in running a non-revenue generating unit (uk) which can be saved by moving to Canada and increase Company margins on the Canadian revenue. Also as mentioned earlier, there isnt much value in the current SP attributed to Serenity so if it were to disappear - it would have very little medium to long term impact on the SP.

Also your comment on the 100 boed additions does not appear to be informed either:

1) each 100 bopd adds about $2m to free cash flow. Add enough of these wells and that's going to be pretty sexy not withstanding the fact that some of the future wells are likely to produce at significantly higher rates than 100 bopd.

2) One thing that some may not appreciate was that until the Cenovus deal - I3e were quite cash contrained meaning that they did not have sufficient cash to fund a large development program internally - now they do with options to borrow also - so I think you can expect to see a significant acceleration in the development plans going forward.

The cash generation/FCF alone more than supports the current SP. The market always tries to price in the "whole story" which would include Serenity but if it does its not attributing much value to it at all to it.

Serentity / North Sea has been such a long running saga that the market is probably a little skeptical , however, I would be gob smacked is the SP did not respond very favorably to a farm-out announcement.

Predicting i3e'e SP has made many of us fools over the years . The whole Canadian Oil and Gas Market is sitting at generational lows - on top of that i3e is sitting near the bottom of the ladder in valuation terms relative to its peers. However, on award of the Farm-out - I can see us threatening the 20p mark and from there it should be onwards and upwards.

There are other significant catalysts within the portfolio as well other than Serenity that are not as dependent on outside capital such as Simonette and Clearwater - so things should start getting really interesting moving forward.

Someone was asking about GASX - I've done a bit of reading and listened to the DOC's podcast with the ceo. Couple of interesting video's below.

Its a really interesting Company and I think Doc may have uncovered another gem - if the CEO delivers on what he says there going to do - this will be a multi bagger in a year or less. As per the podcast the Company at its current market cap will trade at a third of FCF in 2022. It currently has no production / revenue but is forecast to bring on wells starting in November. The key is the CEO - he seems to have the knowhow, pedigree and contacts and if he can deliver on what he says then this share could do really well. No debt and I think he said that future development can be funded through CF. He owns 10% of the Company - takes no salary and has been buying stock in the open market. Worth a look I would say.

https://anchor.fm/docjonesresourceinvestor/episodes/Colombias-Next-Natural-Gas-Producer-and-Its-Huge-Potential-For-Multi-TCF-Discoveries--an-Interview-with-NG-Energys-CEO-Serafino-Iacono-e180onn

https://www.youtube.com/watch?v=3nWrRFdbUeE

Yep - its still on. For the latest - listen to the latest company pod cast - go to there website and click on video's.

The farmout has continually slipped with the Company now expecting by year end. I suspect it will announce sometime after the COP26 summit.

Cenkman:

5th May 2020 -------- Operational & Financial Update
1st June 2020 ------- South Simonette Consolidation
1st June 2020 - ------Final Year results
17th June 2020 -----Operational & Dividend Update
28th June 2020 -----Operational update
30th June 2020 -----Capital Restructuring & Wapiti Acquisition
15th July 2020 ------Operational Update
29th July 2020 ------Operational Update
16th August 2020--- Operational & Financial Update
9th Sept. 2020------- Operational Update
27th Sept. 2020 -----Interim Results

"I3E does not do monthly or even quarterly operational or financial updates. Or did I overlook something?" - Hmmmm ?

Well my comment was directed to PeterHenry so I was a little confused by the question.

Piratepete = Peterhenry - is that right ?