Member Info for tonynorstrom1

"The Company remains committed to encouraging Shareholder engagement on the business of the General Meeting. As such, in addition to voting by proxy, Shareholders can submit questions to the Board in advance of the General Meeting by emailing such questions to i3energy@camarco.co.uk by no later than 11 a.m. (BST) on 1 June 2021. The Board will consider all questions received and provide a response to those that directly relate to the matters of the General Meeting"

A reminder to email in your questions - the more the better. You cannot complain about lack of communication and not send in a question !! They have to be related to the matters in hand - some suggestions:

1) The circular talks about Share buybacks - does i3e intend to re-purchase its shares this year and if so, why is this money not being put into drilling clearwater.

2) Are there any other repercussions of eliminating the Share Premium Account other than eliminating the retained losses?

3) Does this resolution impact tax liabilities on future profits?

4) Will the dividend paid quarterly or bi-annually

Does anyone have a link to the latest broker note for 88e?

https://www.reddit.com/r/PantheonResourcesPANR/comments/njstky/broker_note/

JustBe,

https://ceo.ca/@Drjimjones/10-bagger-in-oil-youve-never-heard-of-i3-energy
https://ceo.ca/@drjimjones
https://twitter.com/drjimjonesceo

Here Here GGG and well Said.

Sharesarein - cut and paste below for your reference - this is what the doc wrote on this BB on the 13th May - ready carefully ! Also if your relying on the presence of one PI to support your holdings - its not a very robust investment thesis.

As they say in Downton Abbey "Value will out !"

"I don’t understand what all the negativity is for? The dividend yield is 9% now supported by outperforming production and hedges locking in a % of future cashflow. They expanded Clearwater acreage via jv which has some Martin’s Hill drilling locations that are tier 1 in play that ip + 400b/d vs Nisipi +150b/d they are drilling jv first because their historically Clearwater acres are held by production prior production of NG, where as jv terms require drilling to hold it. Oil moving up to 70 $ again ng breaking above $3, inflation running hot, production gains are back end loaded they raised they fcf guidance twice this year, where’s the downside? If you can’t see the simple facts, good luck with any future investments and I mean investments not speculation. In May they’ll file year and give another update. Covid has been a problem still globally that should be remembered as well. Year end based on their fcf guidance they will be net debt free.... where’s the problem? Lol I’ve tucked this away in my dividend portfolio and will revisit after first results at Clearwater. To me I see a new investment as raising a child, they need a lot of attention then as time goes they prove themselves your confidence level rises thus less attention. Just because I’m not here every day doesn’t mean I’m not invested. What it means is I am confident now that i3 will be just fine and I put my attention into my next kid which is currently emerita resources. 2022 will be a year for rapid growth for i3. I’ve sold some of my OTHER oil/gas investments to add my copper zinc lead exposure in my portfolio but i3 is still part of the core 3 that remain in my JR resource portfolio. Best doc"

Shareinthis,

As far as I know - he is still invested. If you read his report, you will have noted that that he has said from the beginning that I3E would take 12-24 months to fully play out. After making a 10 page report, appearing on several podcasts, plastering it on the CEO website and his twitter account - what else do you want him to say?

Take a look at his latest play - it has 3x bagged for him since he started taking a sizeable stake in April. If that's what you call bindweed - I think I will get me some of that!

Ddraig,

Given the potential catalysts here - which company is more likely to secure that financing ?

Here:

1) More oil
2) More data
3) Better location
4) Alkaid to be "put on production" any season
5) Bunch of flow tests next season
6) Drilling updip on Theta West next season

JofHoggit,

Interested to know why you think the risk profile is lower here ?

There:
1) cheaper on a $/bbl basis
2) lots of news flow due in comming months
3) Several flow tests likely in next window
4) Alkaid to be "put on production" with no seasonal restriction
5) Drill updip at Theta West next season

Maestro,

It's Docs baby - definitely worth taking a look at his research - a completely different company than i3e.

It does not have any earnings or dividends like i3e to underpin its share price so considerably more risky - so my reply was a bit tongue in cheek.

Maestro - EMO ?

Tomhuk2000,

Year end results I think will be issued this month i.e. on or before Monday although there is a possibility it may slip to early June as per previous years.

Personally not expecting too much from the report since the cut off is December 2020. Any material news after this cut off should have already been issued via RNS. It will obviously confirm the year end cash balance and hopefully costs inline or better than expectations. Remember also the oil price rally has continued past the end of the year so wont be fully reflected in the results.

Non-cash charges will be interesting as these will impact the income statement (profit / loss) - not sure what will happen with these as some of i3e's peers have been reporting significant losses due to asset write downs etc. This may not be the case with i3E as it executed its reverse takeover at the bottom of the market - so maybe asset write - ups !!

Spuding in Clearwater - I'm sure you have read what i have read. Contractually it looks like it was scheduled for September with the possibility of it actually happening in May. If it doesn't happen in May, it will be another PR own goal so lets hope that Majid has his shooting boots on!

GLA - the longer term holders particularly deserve a bit of luck.

Tomhuk2000,

I agree with you. If you wind the clock back to March last year - I3e was perilously close to going out of business with high debt, no revenue and few options. Fast forward 12 months, i3E is cash generative, net debt of less than 1 years FCF and several possible transformative catalysts. Since the start of the year:

1) Forecast net operating income raised twice.
2) 500 boepd Gas well spud
3) Aquisition of additional land within Clearwater(Canada's top oil play)
4) Farm-in to a 9 well drill program with 1st wells due to spud shortly.
5) Estimated cash on hand at $18m
6) Further drill program planned for later this year / early next in Clearwater - could be very material to FCF / dividend.
7) Dividend announced (7-8%) yield and protected via hedges. Some of i3E's Canadian peers dividends are still suspended.
8) Possibility of a Serenity farm-out still in play.

There are few negatives - the dividend payment is late and we have since found out the reason why. The resolution of this to this was fairly positive with the Oil Services Company (Baker Hughes) agreeing to defer balance of payments until a FO of North Sea assets. This has to be a vote of confidence in Serenity ?!

The recent share price movement has been disappointing for sure , but bearing in mind where i3e was in March last year and given where the SP was in January (5.5p), the current SP is hardly a disaster- whilst the SP has drifted down, it appears to be on the back of very little selling (light volume and small value sells). The Management in my opinion deserve a little more time before getting too critical.

This is from Gear Energy's May update from the CEO in reference to the reduction of net debt:

"This kind of financial flexibility will provide Gear with material financial optionality. If oil prices continue to be stable at current levels, Gear will be in a position to seriously consider (in no particular order); investing incremental growth capital, pursuing mergers and acquisitions, buying back shares, accelerating ARO retirements and potentially one day paying a dividend.

1) i3e have lower net debt
2) i3e are already in the process of paying a dividend
3) i3e are already investing in incremental growth
4) i3e is cheaper on a 2022 forecasted EV/CF metric (my forecast)
5) Dare I say the S word !

Goldstinger,

Thank you for the response. Taking a skimp though the link you provided - it looks like approvals for additional appraisals / flow tests.

It wasn't 100% clear to me what Jay said in relation to Alkaid- I thought he said "put on production" . What does he mean - another flow test or actually start production ? The attached approval does not seem to relate to production.

Anyway thanks and good luck.

Bwana/GGG - thanks

GGG,

Link takes you to his forum. Click on his Profile and scroll down - you'll see links to all his reports. You can also find him on twitter.

https://ceo.ca/@Drjimjones

https://twitter.com/drjimjonesceo

GGG,

Do you have experience in Mining Stocks and do you know of a similar one on the AIM that you think would be worth looking at to compare to EMO.

If you are interested in Mining stocks - I think it might be worth you taking a little closer look at Doc's research - I would be interested in your thoughts if you do.

You mentioned that there are other AIM stocks that have assets close to existing mines. This appears to be the case with EMO with many working mines in Spain with associated infrastructure and operators such as Rio Tinto. You
mentioned the safe jurisdiction and in addition as highlighted in Doc's research - Spain has been granted several billion dollars of EU money to support the mining Industry which has been identifies as strategic to Spain / EU.

Goldstinger,

Just listened to the Proactive Interview - CEO said they want to do 3 things this winter:

1) Drill up dip on Theta West
2) Continue testing of Talitha
3) Drill a Production Well at Alkaid.

Are there any details on what they are doing with the Production Well at Alkaid - i.e. cost, expected production etc. Are they planning skid mounted processing units ?

regards

GGG,

Agreed.

Given that Serenity has been reported as close for quite some time now - I wonder whether the delay and final piece of the jigsaw is down to the FID on Tain which is due this quarter.

https://www.energyvoice.com/oilandgas/north-sea/283102/repsol-sinopec-project-updates/

Moda (11:33)

Read the article - the author - Samantha Jones - Is that the chick from Sex in the City ?

GGG,

Apologies to all for the rampant posting - it looks like I have too much time on my hands which I do ! I dont think for a moment that i3e are intentionally misleading shareholders with regards to the dividend. However :

1) There seems to be some doubt as to whether the dividend will be distributed quarterly or bi-annually. I cannot find where i3E have stated anything in this regard but I recall one of the broker notes referring to a bi-annual policy. Under a bi-annual policy, it is not unusual for the amounts to be different between interim and final results. i3e's commitment was a payout of 20 -30% of FCF on an annual basis - see references below.

2) I3e did site both approvals and balance sheet as the reason for the delays in progressing the dividend - it is quite possible that i3e declared the dividend amount prior to having a full handle on the balance sheet. Given that dividends are to be distributed at least bi-annually this should not have been a problem.

RNS--- 31 Mar--- " i3 has allocated CAD$2 million (£1.16 million) in relation to its planned Q1 2021 dividend....... Upon approval...... will immediately thereafter distribute the abovementioned dividend payment to its shareholders."

".....we are close to entering the final stages of the process to allow the declaration and payment of our maiden dividend and commence delivery on our promise to distribute at least 20% of our free cash flow ANNUALLY to our shareholders as dividends, subject to necessary consents"

RNS---23 Feb--- "It is expected that the Company will declare its maiden dividend in Q1 2021 - subject to loan note holder, judicial, and shareholder approval - for payment in early Q2. As previously disclosed, the Company aims to distribute up to 30% of free cash flow as a dividend to shareholders"

RNS ---2 Nov---"The Company envisages the declaration and payment of its first dividend in the first quarter of 2021. As previously disclosed the Company aims to pay out up to 30% of free cashflow as a dividend to shareholders. Based on the current share price, the Company expects the dividend yield to be in excess of 10% on an ANNUALL basis."