Member Info for tonynorstrom1

Go to the Investor Relations / Analyst Coverage

The September report has more detail. The later November report has updated pricing. There is also a link to the WHI report which is due and update any time now.

https://i3.energy/investor-relations/analyst-coverage/

Dr Jones,

Thank you for the research and the responses - I know everyone here appreciates quality data. thans for the response on flowing barrels - it gives me a bit of confidence in the data. A couple of other questions:
1) Whats your thoughts on a FO - 90%
2) Do you think I3E can reach new all time highs - as you probably know. Previous was about 128p but this was based on a share count of around 30m
3) Did you review Mirabauds report and how did the FCF compare with I3E's figure of $28m operating income ? I think that this tells us whether the modelling is correct an indication of I3E's costs.

cheers

I think the timeline could be better than your highlight - see an extract from Reposol's Environmental Impact Statement (page 7)

https://www.repsolsinopecuk.com/files/Tain-ES.pdf

"The drilling of the Tain development wells is expected to commence in Q1 2022, with each well estimated to take up to 100 days including mobilisation and demobilisation. The installation of the subsea infrastructure, including pipeline, umbilical, manifold, subsea isolation valve (SSIV), production and umbilical riser replacement, etc. is targeted to take place from June to July 2022. The necessary modifications to the Bleo Holm topsides are targeted to be executed from June to December 2021. First oil from the Tain field development is targeted for August 2022. "

GGG,

There were looking for +/- $90m if I remember correctly for phase 1 which inlcuded the costs of repaying the loan note.

Well all joking aside - a poster who apparently is bullish on I3E thinks a 90% farmout + $15m cash for Serenity. Certainly giving away a bigger piece of the pie than some on here think including myself.

I think I3E would fund part of Serenity rather than farm out such a large slice. WHI said a free or "nearly free" farmout meaning presumably they envisioned I3E picking up part of the development cost.

Majid said that negotiations were close with just price and timing to agree. Its not as stupid a statement as it sounds - whilst Price / % is everything, its just a number. Once agreed , the other 1000 pages of the Contract are ready to go.

and I want to know also who was the guy that recommended Pirate Pete's Post !

sh_t - is Canada not in the US?

Anyway Guys - lets keep it serious - our friends from the USA might want to partner with us. They wont take us seriously if we keep fooling around.

Kane - I think your close - I had my money on a Pizza topping.

test

Metal Monkey,

I'm probably going to show my ignorance here but so what:

1) Sinochorizos - whats this ?
2) COGE metrics - whats this ? You'll have to forgive me, I'm from England, some of us are a bit slow on this side of the pond.
3) 90% Farmout - its not obvious to me at all though it would not be the first time i've been humbled. A number that's been bandied around here is +/- 35% . They presumably also have the option of a Reserve Base Lending facility if the terms of a FO are not appealing and move the appraisal forward.

JAdam,

I doubt the buys were Doc's - you would buy first and then pump - wouldnt you ? Although they could be related to his newfound fan club. Beware of strangers bearing gifts comes to mind !?

Metalmonkey,

You provide very little explanation / back-up for your valuation. Just looking at a couple of items:

1) $15,000 per flowing barrel - where does this come from??
2) 90% farmout - why 90% and not 50%. Where did you get the $281 from?
3) How do you arrive at the value of the undeveloped acreage?
4).................

Dr Jones,

Any concerns with a single institution holding 30%
of the shares?

A few words from REXBOY on the ITE Yahoo finance message board . He had me on "DUDE I'm ALL in".

rexboy
UK INVESTORS NEED TO WAKE UP. This is a 10 bagger! Read this report I found. DUDE I'm ALL in. The clearwater oil formation is the most profitable in the world! 400% IRR's. https://ceo.ca/@Drjimjones/10-bagger-in-oil-youve-never-heard-of-i3-energy

JAdam,

I dont know about the two large trades you reference, but it is sometimes difficult to tell even referring to the prices.

I made a two trades yesterday within 60s of each other - 1 buy, 1 sell - they were listed incorrectly and the sell was actually 0.025p higher than the buy. I had the same thing happen today but was not able to make the trade.

Pichc1,

Most people here will know rubbish when they see it - is there a point to your post - are you challenging anything I've said ??

As far as reading the Mirabaud reports - ive read them both. You should try doing a little research one day - you may learn something!

Congratulations -Particularly to the long term holders - GGG, Fastfood, JAdam, Oiler etc. Not sure how long Kane and AK47 have been in - but congrats all the same.

Pretty good day today - perhaps one of my best days on the market. Only need another 3p now to break even !!! Lets hope for some more. Based on metrics / data - we should see it - hope I have not just invoked commentators curse.

Doc Jones - Posting again in case you did not see previous post.

Great research and series of posts:

1) I dont know whether you have had a chance to look at the Mirabaud Broker reports found on I3E's website. I have made a CF model based on their spread sheet and adjusted for POO - have you had a chance to look at this ? Based on this and other information in the re-admission document-the approximate production mix is 58% Gas, 17% oil & 25% NGL's / Condensates. In the recent past - NGL's and Condensates have also been at prices at a massive discount to WTI although the discount appears to have narrowed over the last few months. Have you priced in the NGL / Condensate mix in your cashflow?

2) There is and updated graph on @i3e twitter showing the metrics for what the author says are peer group companies (Gear Energy, Tamarack, Surge Energy etc). Metrics are EV/2P and EV/ Flowing Barrels. Nearly all the Companies mentioned have a significantly higher Oil Mix (More Oil, Less Gass). What are your thought on these metrics - should they be adjusted to compare companies with significantly different product mixes.

3) If you looked at the Mirabaud report - are these projections inline with I3E's last RNS ref operating income.

great posts and look forward to any thoughts if you have the time.

Drjimjones,

Based on you experience - what would be comparable companies to benchmark I3E against.

cheers