Member Info for tonynorstrom1

RonBruce,

Its a good post and I saw it on ADVFN. I have a couple of comments:

1) One thing that makes this a little different is that the're asking for authorization to issue the placing shares (360m of them - resolution 1) and then in the next resolution (#2) permission to issue a further shares (up to 33% more)

2) I'm a little confused with resolutions 3 & 4 - they seem the same as resolutions 1 & 2 with the exception that they are special resolutions and are requesting authorization to do the same thing except on an non-preemtive basis. I'm not sure why they are doing this for resolution 1?

Jollygoodya,

Nicely said !

I wonder whether the deal closes today ? It was effective from April - might mean that that I3e gets a reduction on the deal price i.e. the FCF generated from April taken off the purchase price.

Lets see what tomorrow brings !

Hasiba,

There is no physical link between SP and NAV meaning that the NAV can double and does not automatically mean the SP will double - so that it the explanation!

However, if the value proposition is compelling - then I think the SP will follow. With the news flow and the prospect of a significantly higher Dividend - this is what I think will happen.

This will become evident with the dividend - your going to see a bigger dividend which cannot be true if your slice of pizza is getting smaller !!

GGG,

The pizza analogy is a good one but it appears it is still too complicated for some - we own a smaller % of the overall pizza - but the slice is actually bigger. It may be worth a little less right now due to the market mechanics but it will reprice.

Going by the numbers provided by Management - this is a fact unless you doubt the numbers. Tell me this is incorrect GGG.

GGG,

I was talking about the run up today just before the meeting which you have not commented on.

Did you get a response to your email to I3E ?

I think we might get a Tennyson Brokers note today or tomorrow followed by a WHI note after the clearwater drill results.

onwards and upwards !

the little run up in the SP prior to the meeting and fall shortly after is a little puzzling. We're SH's expecting GGG and his followers to overturn the vote or where they expecting other news to be delivered prior to the meeting.

I'm interested to see how many votes were against - I wouldn't think it is much more than those that expressed there opposition here - i.e. something in the 10-15m range.

I must admit - I was half expecting news on Clearwater at 7.00am this morning.

What does BOD (Board of Directors) Salaries / remuneration have to do with the FPSO?

Possible recovery of $17m restructuring costs - SH's would be better off clubbing together and buying a Euro Lottery Ticket for HUR ! Who's going to cough up $17m for decisions made by a BOD appointed by you ?

in addition to the items mentioned in the preceding posts:

Latest Presentation mentions a $45m Project at South Simonette to target 18,000 boepd - its not in there to bulk up the presentation - its being planned and I would fully expect to hear more about this in the not to distant future - this like Serenity will be very significant.

Good article from Kalkine.

I think we can look forward to further broker notes from WHI and Tennyson after the drill results / GM next week.

https://t.co/SMZji8ifGF

Thanks joe - I knew it was 15% but didn't know where it came from - now I do - thanks ! Second question is still valid i.e. that now SH's are aware - can It now be included in a future meetings to review.

You wouldn't happen to know whether this is in line with peer group companies . Someone here pointed out that Kistos doesn't issue options and treats all SH the same in this regard - Kistos is by no means the norm - though perhaps they should be.

The vesting criteria could be better but are not totally rubbish - not unusual to offer a reward for achieving milestones. Most of us here would expect similar:

1) 1/3 for completion of the this deal
2) 1/3 For 2nd Appraisel Well or 1st Development well Serenity (ie3 - uk) or 20,000 boepd (Canada)
3) 1/3 Adding 2500 bopd (i3e - uk) or an additional 9250 boepd (Canada)

Very achievable and when they tick the boxes - shareholders will do very well also.

Only just thought of it now - but shareholders have the opportunity to email in questions for the upcoming meeting. Should have been email yesterday. However, It might be worth sending an email today if you have any questions and see whether they will respond.

There were some questions here on options - get in your questions - don't just complain about it here !! A couple of suggested question:

1) Do shareholders get to approved Managements Authority to issue options and if not - on what authority are they issued.

2) Can the subject of options be raised in a future meeting for review by shareholders.

Come on Pirate Pete and GGG - stop moaning and get your questions in !!

i3energy@camarco.co.uk

I saw a comment on twitter that stated with the current deal, i3e has a forecasted dividend yield of 10%. So here’s checking the maths:

(Outstanding Shares 1.1B, exhange rate 1.37, Div = 30% of FCF)

NTM Net Operating Income (NOI) = $75m
G&A = $10m
Maintenance Capex = $10m
Finance Charges = $5m
>>>>>>>>>>>>>>>>>>>
FCF = $50m Dividend = $15m / £10.95m = 1p / share = 9% yield

The NOI is based on near term projects as per page 13 of the latest corporate presentation. IMO this is conservative and with some additional workovers and a few more drills, NOI could be a minimum 15% more at $86m:

FCF = $61m Div = $18.3m/£13.4m = 1.22p / share = 11.1% yield

Assuming that a share such as i3e with the dividend covered 3x should trade at a 5% dividend yield – then this gives a price target of 24.5p / share.

This excludes any impact from Serenity or a large drill program such as Simonette.

thank you for the clarification - some of your posts have been well received by many particularly the first 3 or 4.

I'm sure most will look forward to what other insight you can bring !

A bit of promotion never hurts - it helps if the posts carry a bit of weight / credibility.

MissAnnaGrey - apologies for the personal questions, but I think your posts here and on twitter have invited them. At 41 and with 25 years plus of trading experience - that would mean you've been trading since 15 or 16 - is that correct ? Pretty unusual for anyone let alone a female.

That said we all enjoy a certain amount of anonymity on here although I do post under my real name. There is a well known and respected poster here (who I've assumed to be male) but allegedly posts on other forums as Jenniffer !! and another as a pirate - so each to their own !!

Actually now about $2.26 at todays exchange rate - good news is that the Gas swaps expire in October and new ones can presumably be negotiated at better pricing.

https://www.lse.co.uk/rns/I3E/operational-and-financial-update-px930wizqwqz4z5.html

Strong chart according to Zak and could retest 16p before the end of next month !

https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-21st-july-2021-via-vox-markets/?utm_gravitec=digest#gs.71mx05

tell that to ex-holders of Northern Rock !