Member Info for tonynorstrom1

Peter - I think you need to take heed from Buffet - "wealth comes from time in the market, not timing the market !"

https://ninepoint.com/alt-thinking/audio/the-oil-party-has-just-begun-with-eric-nuttall/?TwitterNPP

I think i3e with its Canadian Assets are in the sweet spot.

Source88,

You can DM on twitter or the CEO website.

regards

GGG,

What should the SP immediately re-rate to and what Company / Companies are you comparing to?

They’ve done this unless I’m missing something - check out the last 3 notifications.

these are the warrants so yes encouraging they have a significant stake but the additional 2.39% was added at almost 0p per share so I'm not sure you can read much into that.

Source888,

Where did you see the comments on the quality of i3e's holding in Clearwater - can you provide a link. I thinks its true that i3e may not have the very best acreage in Clearwater with regards to productivity though everything I've seen so far says that it is still pretty good - most of the land falls in Martens Hills which has some of the lightest oil in Clearwater and the wells seem to pay off within 12 -18 months.

Did you see Doc's original report - has some pretty good information on Clearwater. They have about 60 Sections - each section can take approximately 4 wells. Its reasonable to assume that not every section may not contain oil - im trying to research clearwater a little more but for now if you assume one well per section x 60 sections x 150 bopd = 9000 bopd.

So potentially quite a big resource that could almost triple i3e's current oil production.

The Cenovus deal added around $8m to i3e's cash pile and with Cenovus now integrated, I3e is generating north of $8m per month in FCF - plenty of money to fund a significant development.

The Hickster - post doesn’t make any sense . I3e only making a few dollars a barrel profit or ridiculously cheap ie make lots of dollars per barrel?

I'll - do that if you tell me your thoughts. Dont worry about off topic - its Sunday ! I will take a look at some of the stuff on their website plus ask Doc a couple of questions.

CMCC,

I have not looked at it closely - I took a fleeting look when I saw it in his portfolio previous but I saw the word "Columbia" and I switched off. The fact that he has mentioned it again - it would be remiss not to take another look. I did look at the 10 year chart and noticed that it has been as high as $200 and is now sitting at $1.45 also done nothing since 2016 - so a bit of a flag and I would want to understand why.

Rick2510,

I have a small holding in EMO - cashed out for a profit but now im back in again.

2 likes now - FFS

For anyone doubting credentials - take a look at the posting history !

And whose going to own up to the like !

Ron - we must be telepathic !

Sources888,

I think the answer to that is yes - post Cenovus - they now have plenty of cash and cash flow to self fund a significant program in Clearwater. To the impatient things seem to be moving slowly - appearances are deceptive and if you look at things rationally the pace of progress has been swift - from zero production and near certain bankruptcy to a mid tier 20,000 boepd dividend paying producer with healthy cash flows and several potential catalysts to double the size of the company again !!

The Companies message on Clearwater has been consistent from the start - drilling campaign to start end of 2021 , beginning of 2022 due to winter condition / avoiding the Caribou mating season. I expect to hear something significant on Clearwater soon - if we dont its because there's something more exciting on their "top 20 list" that sharholders will be even more excited with .

Fairdealer,

Its a broken record and I should just let it go (and you should let it go more to the point if you are a shareholder) - "what others appear to realise that debt could have been managed". I think far less people now agree with this after having heard Managements explanation.

"The point being there was significant external funding available, not withstanding.........." - Management and WHI have said otherwise . What experstise / experience in business do you have to be able to say say this.

Cenkman,

That is possible - now that I know you have looked the interim results - did you happen to notice how much cash they had at period end.

If you didn't - I suggest you go and look it up and then come back an let this board know how many wells they could have drilled, how long it would take to get to 19,000 boepd and how much it would have cost.

We know what the answer is if they chose to buy assets / production at historically low metrics with equity and we are there now with scale and pots of cash flow.

There was an administrative ruling yesterday in Spain on an EMO legal case - the thought is this a precursor to the imminent award of Azancollar to EMO - Doc believes this will double the share overnight on a rerate to 8-15x the current market cap over the next couple of years - let’s see. Probably part of his reason for selling of some of his holdings and moving into EMO.

Cmcc,

I don’t think there’s any need to be too deflated - probably emphasizes the important of DYOR and knowing what you own. I think he still thinks it’s a good investment and he may come back to I3E in his “risk portfolio” if he sees a “change in the data”2 - note he still holds it in his dividend portfolio so he’s not out completely.

You also have to remember that he has other stocks in his portfolio and tends to adjust from time to time to move into his highest conviction plays which happens to be EMO at the moment. He’s scaled back on many of his holdings to add to EMO - plus I don’t think he had seen the Podcast with the explanation for the deal . Bottom line is I think there is more to his decision than meets the eye and I don’t think it affects our investment case. Proof is in the pudding and w’ell find out over the coming months whether he was right or not.

I was a little surprised by his post but think it was important for people here to see his latest thoughts which is why I asked the question - I’m not deflated at all - investment case still in tact as far as I’m concerned.

GGG,

If I3e had the scale and the CF then yes - everyone agrees with you that it would have been better for shareholders at least to have funded via debt.

i3e Management said in their Podcast that:

1) They didnt have the scale - i.e. revenue / CF to get the debt
2) They didnt have the time - due dilligence by the lenders would have taken months and the deal had to be closed immediately.
3) They may not have got the inter creditor approvals to re-finance

WHI alluded to the same in the recent update that only now do they have the scale to take on debt i.e. before it was not feasible.

Yet you continue to say otherwise - for what reason I dont think anyone understands except you. Its done and dusted - why keep harping on about it ??