Member Info for tonynorstrom1

A lot there to digest. Key as Nomadinvestor has already said is the dilution required for the additional funding / farm out.

If I’m reading correctly - strike price of warrants will be reduced from avg 48p to 0.1p ? I.E. about 45M shares issued for a consideration of 500k.

Did not see what happens to the GE options - maybe I missed it.

And all subject to Toscana Shareholder vote. Not sure what the BOD / Insider holding is - I think Harel has stated 38% .

Jog on pal.

Give it a rest oily / how about posting something new!?

Nomadinvestor,

Interesting and reasonable sounding response - I posted it on the Stockhouse Toscana forum and requested comments - I'll post should someone reply with a worthwhile response.

That's what I saw. A few other snippets that caught my eye but I don't know whether are true or not:
1) Posters claiming that neither Toscana or I3E have provided any information on the vote - they dont currently know what they are voting for on the 30th ?

2) I3E have suspended interest payments on the Toscana debt pending results of the vote.

3) Some posters highlighting the apparent conflict of interest of the Heath Brothers.

Harel,

Have you checked in with with your buddies on the Toscana message board - what are they saying?

Well Jersey Oil & Gas has a market Cap of 22.5M
but has no debt.

Bucklerfern,

Do not understand your post - binary issues is boom or bust - not a take over v development funding. If we get development funding - we are almost lcertainly going to own a smaller percentage of the asset than we own now.

Now that the Oil Market has improved slightly - maybe another option if Toscana SH vote down the buyout is to buy back the debt say for $10 - $15m.

Harel,

You wrote:

“The f.o negotiations are at the final stage, its about who will blink first but I still believe its a must deal for both parties.”

What is the basis of this statement - I have not seen any report to back up this .

Also:

“Repsol is pressing ahead with the tain DP hoping the oga will issue the permit"

In March Repsol submitted their Environmental Impact Assesment which is a step towards development but still only a paperwork exercise - not a firm commitment. A lot has changed since March. I have not seen any statement after this from Repsol - I may have missed it - do you have a link.

Also second part of your statement on issuing of the permit is not a fact I it’s your supposition.

3m. For the 6 months ending 30 June 2019 I should clarify. I have no idea what the admin will be for the current period.

Wmsjames,

The loan notes (Capital) may only be due in 2022 or 23 whatever the date is but the interest is payable quarterly (nearly 500k per quarter). Add on the admin which was 3m for the 6 months ending 30 June and it is obvious they will run out of cash long before then without additional funding.

Harel,

Trouble with your write up is that it is hard to tell the facts from the pieces you have put together.

You were asked a specific question on Respsol - I think the truth is that non of us know the status of the discussions and who they are with- the last thing the Company said was that “good progress is being made”. That was before Covid 19 really took hold which along with the POO has caused all Oil Companies to review theirs plans. Oily 87 did state that he had from a “good source” that Repsol was very keen on I3E but he has not backed up this statement and has got to be taken with huge pinch of salt - most likely he was just pumping the stock based on current rumours.

I3E does appear to have some very appealing assets - current SP no doubt is due to current uncertainty over the loan note and also their cash position. They presently have no income and still have to fund interest payments on a 22m loan as well as significant admin costs.

In the current climate - it might be tempting for potential suitors just to wait it out and see whether assets can be picked up even cheaper when the dust settles - this is in fact what RRE said in and Interview several months ago with Malcy.

Oily87,

Nice cut and paste - are you going to tell us what it means?

Oily87,

Thanks for the recap. What did your mate say on the Repsol talks?

Share4,

“The stocks I pick are good risk reward” -
What does that even mean - you’ve lost you ass on Albert but you still maintain it’s a good risk reward??

You seem very eager to let me know your portfolio is significantly up - i hope that’s the case and you’ve put Albert behind you.

Have a good weekend.

Share4,

Eat your humble pie humbly .

Albert was a good risk reward - no matter how many times you repeat it - does not make it true - you’ve take a bath Lol - accept it, learn from it and move on.

So you finally admit Albert was a POS. Well a Little bit of humble pie will do some good.

Have a good weekend - toodle loo.

Well it’s time for Oily87 to speak to his mate and find out how the talks went with Repsol.

Oilman1984,

How do you come up with 8-9p a share?