Member Info for tonynorstrom1

Another interview with Majid - this is the Company that Doc introduced to i3e I think. I've seen this same company on some of the forums that Doc posts on.

https://kalkinemedia.com/podcast/kalkine-weekly/majid-shafiq-ceo-i3-energy-plc#

GGG - the Doc thinks there a lot more to come. He believes it should be trading at at least 1% of metal value in situ which would put it at 2 to 3 times where it is at now. What metric would you be using for a company at this stage of development?

75% - I'm thinking of bailing and putting into i3e - haven't decided yet.

The rise is almost too good to be true - reminiscent of the Tulip Bulb Mania from 1630 although Doc thinks it got much more to go.

i3e next !

EMO up another 8% yesterday and almost 20% today shortly after the open ! GGG - did you take another look ?

i3E next !

i3 Energy plc (I3E:LN) PT Raised to GBP0.20 at Canaccord Genuity
June 23, 2021 10:54 AM EDT
Canaccord Genuity analyst Charlie Sharp ...

Up from 17p last month - I think they are being conservative and waiting for the news to come out. This will be one of several upgrades from Canaccord this year I'm sure !

Sorry - I thought you were asking where I know him from. Your asking for the links I assume:

https://twitter.com/drjimjonesceo
https://ceo.ca/@drjimjones

Someone here came across his research report on i3e about 2-3 months back and posted the link here and contacted him. He subsequently posted 6 or 7 times here promoting his report.

I liked his report and have since kept an eye on his website / twitter and some of the shares he is following / investing in.

I just asked Doc whether he has considered issuing an update of his i3e report. His following seems to be growing day by day particularly because of EMO.

Don't know whether anyone has been keeping an eye on EMO - Doc bought a significant stake at about $0.23 and has been buying all the way up to $0.93 as recently as a few days ago - up another 25% yesterday ($1.23)

Cash Balance end Dec....................$8,742,000
FCF Generated to end June..........$10,575,247
1 Noel..............................................-$500,000
2 Clear Water Acquisition...............-$300,000
3 Clear Water Farm-in..................-$4,400,000
4 South Simonette Aquisition.....-$4,200,000
5 South Simonette work over.....-$1,160,000
6 Dividend....................................-$1,635,600
7 Wapiti - 2 wells.........................-$2,100,000
8 Wapit acquisition & Workover.....-$410,000
9 Miscellaneous.............................-$1,500,000
Total.................................................-$16,205,600
Balance end of June...........................$3,111,647*

* It is likely that some of the sums are not due in full for several months after June hence the remaining balance is likely to be higher than shown.

Freshair,

I agree with you - if we want to move the needle significantly, we need to get some cash to fund developments either through debt or a farm-in. If we're relying on FCF - then were stuck at about $2m capex a month until we build scale which will take some time.

If you tot up everything that i3e has spent on capex since the start of the year - its about $16M. Hard to know when the bills actually come due - but that leaves us with about $4 - $5m in cash by my estimate - a lot less than some think.

bots - I heard that as well - I'm pretty sure he corrected himself and "when we invest" is what he meant.

I'm pretty sure that this is the big investment "to move the needle" that Graham is referring to - its in the presentation and believe they are looking for a partner to farm in and provide the cash.

I do think we will attract dividend investors via funds in particular - historically dividends make up most of the investment gains v SP appreciation. I hope that's not the case with i3e which you would expect will see healthy SP gains along with a fast growing dividend. I3e have have stated their desire to pay a progressive dividend which I think can be achieved despite any oil price volatility due to the likelihood that growth in production should offset any oil price weakness.

Straying off topic slightly - we all remember that Noel is expected to come on line at 500 boepd right ? Does anyone know why it is shown as 330 on page 10 of the latest presentation ?

The obvious sound bites have already been highlighted. I commented the other day about why drill at Wapiti when you have wells in some of the other area's (Simonette & Clearwater) that have potentials of 400 bopd and higher per well. I think Majid touched on it here and stated that:

"...Wapiti is a core asset....we've already spoken about South Simonette which could add really significant volumes when we invest the capital, the same is true of Wapiti..........Clearwater ...Central Area's...."

I think we have a Unicorn here and Graham is already talking about "doubling and tripling from where we are now" - I think he's being conservative !!

https://oilprice.com/Energy/Energy-General/Its-Too-Late-To-Avoid-A-Major-Oil-Supply-Crisis.html

All positive for I3e - tighter supplies and higher prices in future. With the Majors thinking twice about investments in large projects - companies like i3e could well be in the sweet spot. Production can be ramped up incrementally and funded to a significant degree through FCF.

Check our EMO at open - Doc is reporting some news that could be significant.

Ark87,

Spot on and great find - I'd definitely pay $95 to watch the Guru take on Oil Man Jim in a boxing match !

Brombarb,

Thanks for that. Did he double his holdings and how did he do it - options, golden handshake or purchase on the open market ? A nearly 2% holding is bullish in itself but it would be even better if he has doubled up after leaving - preferably with his own cash!

GLA

Jimbo's comments are over the top imo especially as he has aired then many time before with no real acknowledgment of any progress - I think we all had some trust issues with regards i3e's ability to deliver in the past. For many these are quickly receding day by day as progress is being made.

Jimbo goes a step further and questions the Integrity of i3e's Management. His criticism has not wavered a jot in 18 months - he could have acknowledged recent progress and maybe tempered it by saying something to the effect of "more to prove due to past failings". Instead he casts a shadow over all i3e's recent announcements with "can management be trusted" and i3e's "less than straight forward Management"

I've never paid much attention to Jimbo's blogs other than his coverage of i3e - I have never seen anything other than a cut and paste of information readily available on the internet with a parting shot at Management. No analysis, no insight - nothing.

Is this correct - David Wall doubling his holding since leaving. If correct its got to be a big vote of confidence.

https://mobile.twitter.com/HarisRad88/status/1406637679652085765

".....but the key question here is that following the North Sea debacle, can the management really be trusted? More on I3E in the private blog."

The real key question is did he provide anything more in his private blog or is it just the same old innuendo? Were there any real insights or was it just a cut an paste of information already available to us via RNS with his "trust issue" tagged on the end.

Did anyone message him on twitter to find out what he's talking about ?

Fairdealer,

The 0.16p is the special dividend. The next dividend will be the H1 dividend set at 20-30% of FCF for the period 1st January to 30th June 2021 and will be announced with the interim results in September.

tomhuk2000,

First of all there is no guarantee that the SP will rise into the ex dividend date and fall thereafter - you will have observed that i3e's SP has often not reacted as expected.

Secondly the dividend is only 0.16p per share, i3e often moves up and down by more than this on no news.

Thirdly you would need to look at the upcoming catalysts - I think we could be in for at least 1 or 2 material announcements a month for the forseeable future which could pop up at any time:

1) Serenity
2) additional wells - spudding, brought on line or new programs
3) Broker upgrades (or downgrades). WHI has indicated that there is an upgrade to come
4) Oil Price (up or down)
5) Additional media coverage - we've seen Motely Fool recently and the other outlets recently.
6) Additional Institutional buy in (or sale)

In my opinion the path of least resistance points towards a higher SP in the future and you would run the risk of not being able to get back at the price you exited all for a theoretical gain of 0.16p per share !