Member Info for tonynorstrom1

piohc1,

It touched 40 cents but that was on about 11 shares - hardly any sort of indication.

I do agree that as volume on the TSX picks up as it has - the price correlation should become closer. Majid talked about Canada improving price recognition. Lets see what happens on Monday after the 14% rise on the TSX on much improved volume.

Next week could be a fairly big week for I3E - I think they have to issue a Shareholder circular if they are to declare a dividend this quarter as stated

An interesting piece on Surge Energy which was identified in a recent graph as a peer to I3E. Some interesting points relevant to I3E

1) 32 well drilling program adding +/- 3000 boepd of production for $39m. Just over $1m per well all tied in.

2) Sold on 2700 boepd for just over $106m. Valued at 5 x forward cash flow. By my calculations - that values us at between UKP 100 to 120m. (another metric $39,000 / flowing barrel - in my opinion CF is a better use since Surge Energy's production is about 85% Oil / 15% Gas v I3E 59% Gas, 25% NGL, 16% Oil)

3) SP went up over 30% on announcement of above

https://ca.finance.yahoo.com/news/surge-energy-inc-announces-corporate-100000925.htmla

https://ca.finance.yahoo.com/news/surge-energy-inc-announces-corporate-100000925.html

because:

1) they are an oil and gas company
2) diversification of assets
3) Double production
4) Appraise liberator West / Minos High

what makes you think they will sell - why would they not develop and get the additional 10-15k boed

GGG,

The above time line seems very conservative. I think if Tain Goes ahead - production starts end of next year I recall - I stand to be corrected. This could add 10-15 k net to I3E over time. Drilling in Canada I believe can add 6-9k over a couple of years.

I vaguely recall the Management Team buying relatively small stakes in the equity raise - nothing to write home about. However, the CEO has about 2.5m free shares and options over 16m at 5p each. Two thirds of these are exercisable now and the remaining 1/3 when they add 5000 boepd or 25m in reserves.

2 trade ?

Sharesahoy,

Thanks for that. Good to know that the guys with the free app are not getting one over on us if they have to buy and sell at the full ask. The spread on HL is currently only 0.2% !

Cluelesstim,

I agree and we wont be able to buy at the same metrics - Majid did say in December that they would look at deals at up to 3 to 4 times cashflow if I recall correctly. Refer also to the last RNS:

"Our Canadian and UK teams continue to pursue synergistic opportunities to grow our platform through accretive M&A, while the current commodity environment also has i3 progressing organic opportunities from within, as is exemplified by the excellent result we've just achieved at Noel."

Management may not have proven themselves with the drill bit yet - but they do seem to be pretty canny with deals (except warrant terms with lenders). I'm sure as they have said before - now that they have options - they will allocate capital to the most attractive opportunities .

Just noticed "accretive M&A" in the RNS rather than just "aquisitions" - am I reading too much into this ? Answers on a post card please !

who is buying and selling 641 shares - surely with commissions - this is not viable ??? I can see the odd trade of 50 or 100 shares - I assume that this is an attempt to manipulate the market - but who is trading the other small amounts. Having said that - there's a trade for 1,000 shares which is also not viable - its mine - was getting a price and pushed the sell button by mistake.

Noticed again a few minutes ago - I could sell at 7.7p and buy back at 7.69p

Its not that surprising that TWL have done well in the last 4 or 5 months. Companies like this with high debt loads were trashed at the market lows - they are only clawing back SOME of the eye watering falls now that there churning out FCF. This in my opinion is one of the attractions of I3E relative to some of its peers i.e. relatively low debt. I believe they are eyeing up a further transaction which is possibly why we have not yet heard any news on a more aggressive drilling plan in Canada.

Adjusting for the POO only since the start of the year ($52 to $68), the SP should be sitting at 9p. This ignores the good news on Noel. My assumption is the market does not yet think Oil Prices will stay at these levels.

GGG,

I've been in I3E since just after the the fall from 128p - Its hard to think of any time after that when the SP has surprised to the upside. Aside from a short lived flutter after Serenity, the SP has always underwhelmed. Lets hope it is different this time.

JAdam,

What is going on with the Technicals - do we have a Golden Cross ?

Fastfood,

You commented on the exploration well on Serenity, the additional people in the Data Room and Oil Man Jim but you didnt say anything about your theory on the TSX. When are you going to update us.

Volume seems to be ticking up slowly day by day on the TSX - maybe gaining a little traction. Once volume gets to a certain level - I think the price differential becomes more relevant. We need the next catalyst - Broker Upgrade before the weekend ?

Canadian markets open in 10 minutes - lets see whether this gives us anything to talk about.

SP has been remarkably steady last couple of days - seems most are holding pending the next RNS. Looks like we need further good news to continue the rise.

Oil prices recovered a little from yesterday and waiting for the results of the OPEC +1 meeting tomorrow.

as per the re-admission document, Majid has been awarded 2.4m shares as part of the employee share plan and also will be awarded options of 16m shares at 5p each of which 2/3 are vested now.

steady opening and a relatively small spread 7.745 / 7.666

Well so far there seems to be no obvious link between a rise on the TSX and a rise on the AIM. We await your theory.