Member Info for tonynorstrom1

nbul - "Expecting a 15% gain" - can you elaborate why ? Our SP is now approximately inline with the ASX. What do you know that the Australians have missed ?

Also you seem to be topping up every other day - is that not day trading ?

nbul1,

Have you topped up again this morning ? How many shares is that now ?

InvesterInvester,

I'm not sure how excusable the equipment failure is - you would have expected top line equipment thoroughly checked out prior to program start. However, there were some mitigating circumstances beyond their control:

1) Delays in permit issue.
2) Short drilling window due to weather / ground conditions - with the delay in permit, they ran out of time.

Maestro,

I agree - what I was trying to say was an immediate 10 well plus plan which could get us something in the 1500 -2000 boepd range plus some longer term guidance where they are aiming for. Management options are triggered at an additional 5000 boepd. Plus you have i3e infrastructure to handle up to 30,000 boepd. I dont know how realistic it would be for them to have say a 2 year plan to get them to 15,000 -20,000 boepd from existing acreage.

Maestro,

Its already been said many times but since you ask. I think were all expecting a decent report, so I think were probably looking for something at the top end / bordering on exceeding expectations so id be hoping for something along the lines of:

1) Progress on the dividend and perhaps mention of the next quarters dividend.
2) Production ahead of 9200 boepd via workovers etc and Noel to be brought on ahead of schedule with a reserves upgrade
3) Aggressive Drilling plan (10 wells plus) with perhaps news of something already underway and production targets to reach 15,000 boepd plus with significant increase in oil production.
4) FCF on track or ahead of the Mirabaud model with adjustments for better oil prices on top.
5) Healthy cash balance $15m plus with loan note replaced by cheaper financing and perhaps a revolving credit arrangement.
6) Cheery on the cake would be progress on the FO of Serenity or perhaps another transformative Canadian Deal though im not sure they can get one on decent metrics but who knows.

"Although our balance sheet re-structuring has taken longer than anticipated, we are delighted that 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. "

Majid from the last RNS - I know that he has conditioned the statement with "subject to the necessary consents" - but would he had said this if he didnt have loan note holder approval? You would assume that there is regular dialogue with the loan note holders on a whole range of subjects.

My only thoughts were that they would need to have some company results (my guess - dont know this as fact) prior to getting court approval for restructuring the balance sheet. Perhaps this has been the delay.

kingivor - who is withholding consent?

Kane,

Playing devils advocate again. March ending quarter is probably the 1st quarter you could reasonably expect results due to integration issues - many companies on the TSX including Toscana were able to deliver approximately 3 weeks after the quarter close which would make them due now. This is lightening fast compared to how long it takes AIM companies to deliver which can be 3 months after the closing date.

However, given that they referred to "a quarter summary" and not results - I can see no reason why they could not have delivered this last week. There should be no excuse for not delivering early next week now.

Kane,

Being fair - in the examples you cite:

1) Toscana - complete !
2) Canadian expansion - in progress with hopefully more news to come !!
3) Farm Out. This is a long running saga since their 90 day exclusivity period in 2017/18. To be fair now - they said it was a focus and have been careful not to put a date on it. So whilst they certainly have not exceeded expectations and progress is painfully slow - they have not failed yet ?!

Maestro,

Agree that it doesnt make too much difference as long as they deliver. If your a short term holder such as yourself it probably seems a little silly this impatient clamour for results / updates.

However, if you are a longer term holder such as myself and others on this board, the perspective is a little different. We are in at higher levels and as of today - I3e has not delivered a single thing for us - nada ! Along with this, they have missed three or four Company making / breaking targets / deadlines since 2017 / 2018. This could / should all change with the upcoming updates.

If you are are a shareholder, particularly a long term holder - you want to have some confidence / comfort that the Management will deliver on there goals / promises.

Its always good to see new content and see if you can pick up any nuggets of information. After having watched a couple of times - i didnt see anything here and the guy failed in his mission of adding any value. Couple of things that stuck out:

1) He admits he "knows nothing about the Oil and drilling industry" - why would anyone listen ??
2) he talks about a $6 SP. Admittedly he says he doesnt know where this number comes from, however, if he had done even the smallest amount of DD, with 12B shares, he has more chance of getting to Mars on his bicycle so even mentioning it just detracts from the credibility imo.
3) He said he didnt think that Investors understood the results and that once they realized that oil had been found - you would see a jump in the SP in the coming week. The coming week has just passed and the market seems to have given 88e the thumbs down.

So what is going to drive the SP higher in the short term - I just don't see it. Looking at PANR who seemed to have a more successful drill in terms of data acquisition including a flow test and also a probable reserve update - yet look at the SP.

There are some knowledgeable posters here - is anyone able to comment on what the outstanding log / sample analysis could add that would drive the SP higher ?

Maestro,

My last reply was a bit tongue in cheek - I was just wondering why you gave them an extra day in April to deliver their report. Normally April has 30 days !

Maestro,

Well i have to say you are clearly mistaken as all long time holders would know !

Ddraig,

Just took a look at your posting history - other than getting banned for a couple of days for abusive posts - what is your contribution?

Maestro,

Can I ask how long have you been invested here?

exactly - its not like there isnt any history here. Anyway - lets hope we get out easter eggs before the end of the month !

Maestro,

Its called managing expectations. 2nd half of April means anytime after the 15th April..............up until the end of April. If you told your kid you were going to buy him the new iphone 11 in second half of April - he or she would be coming to see you on the 14th April and asking you have you bought it yet ! I would imagine they would be pretty ****ed off if you told them to come back and collect on the 30th April !

I guess we should ask nbul1 what he thinks of Ashley Gilbert running the Company. As the largest Private Investor - he should have some say !

Well perhaps an accountant may be able to engage a drilling Company with reliable equipment !

this is what they said:

"The Company intends to provide regular quarterly updates starting with a summary of Q1 to be released in the second half of April 2021."

Now I know we are all a bit like impatient kids at Christmas - but the wording does suggest that results are due now. They could have worded "released by the end of April" giving themselves a bit more wiggle room and the opportunity to beat expectations.

I remember that Toscana were able to release quarterly results 3 weeks after the close of the quarter.