Member Info for tonynorstrom1

9000 bbl / day is approximately 3m bbl/year. from memory netback was $22M 22/3 = $7 /bbl

I did the calculation and it looked like they made about $7 / bbl yet the average oil price in 2019 was about $56 / bbl i.e. about $12 above where we are now.

GGG,

Did you check the Netback in 2019 for Gain, divided by BBL of oil produced to come up with a profit per barrel. Check this number against the average price of oil in 2019 v 2020. Seems to be a disconnect. I know that I3E is nearly 60% Gas - but you can also check the average price of Gas 2019 v 2020.

If it were the warrants being sold - would there not be an RNS?

it looks like maybe some more warrants have been exercised - well see.

Pharos Energy up over 11% today - I still think that Pharos is a good benchmark to value I3E. Similar production, lifting costs and debt. Im not sure what transport costs are like or the discount or premium to Brent - their market CAP is 55m. That would indicate I3E should be around 8p. Their production is hedged at around $44 but I3E has NS assets.

I don't know whether it is a done deal - I think in one of the early RNS's when they announced the deal confirmed that Management and Insiders controlled 38% of the shares (if my memory serves me correct). They need 2/3 of the vote to pass the resolution. I think its based on votes cast which I assume means that Management cannot count the uncast votes as a yes. There is a small but vocal group on one of the Toscana forums that are strongly against the offer and point out that it only values their shares at a fraction of the current SP. Toscana's SP is strangely sitting at multiples of the current offer and has been for quite some time.

Jungmana,

You're thinking that the current SP indicates that the Toscana Shareholder vote is in doubt and that a positive result will cause the SP to nearly double? If not what else is going to drive the SP in the next 11 days ?

Possibly 3rd quarter results showing positive cash flow ?

Peterhenry,

Not sure that many of I3E's shareholders would agree with you. As for your assertion that Toscana could have agreed the debt reduction for itself - this is rubbish. If that were the case any Company could decide it cannot satisfy its debt obligations and then offer to settle for 10c on the dollar. Maybe i'm wrong - perhaps we should contract the BOD and ask them to make an offer of 10c on the dollar to clear the loan notes - genius!!

Thank you - I missed it.

Doorstop,

Where did you find the wording on funding Serenity from Canadian Cash Flow. I assume the new admissions document - I briefly skimmed though this but did not see it.

Oil down a bit today but still above $40 as used in Mirabauds analysis. Gas however nearly up 6%. More than half I3E’s production is gas.

Well Graham is back tomorrow as per one
of your earlier posts - did you ever get a response to you question on the Weyburn Carbon Capture facility?

Just looking at Pharos Energy Again - I cannot see why we should be trading at a lower market cap than Pharos other than sentiment. We should be trading at a premium which would see us above 6.2p largely ignoring NS assets. Good 3rd quarter results, positive Toscana vote and other news should see is rerate.

Nice equilibrium between large buys and sells - dont want to jinx it, but can we finish blue today ?!

I agree but the current price action makes any prediction in double digits look silly. I think the market in general is skeptical of this board based on lack of delivery todate. However, if the 3rd quarter results show cash generation, cash in the bank and still the prospect of a FO - then I think we could rerate. If Mirabaud got theirbnumber right then, this will be the case.

Oil & Gas up 4% today !

I posted before about Pharos Energy being a possible bench mark for I3E - got no comments. It is listed in the Maribaud Report.

I think there’s a case for I3E being valued higher than Pharos Energy. At today’s prices that would indicate that I3E should be no lower than 6p today.

Toscana’s 2nd qtr results for period ending 27th June were issued on 29th July. I assume that Gain results could similarly be released about 1 month after the cut off i.e. around the end of the month. Also Toscana SH Meeting / vote due on the 27th Oct. So it seems any update is 3-4 weeks away unless we get a surprise update on the FO earlier.

Just want to raise awareness that you post under multiple ID’s on different boards on many different shares. Most of what you post appears to be rubbish, not well researched with the intention of trying to pump up the sp for your own benefit.

Magmanus,

So your pumping this now. Your using all the same
Lines you did on I3E. Come back onto the I3E board and gives us an update - we could do with a laugh and also a little pump.