Member Info for tonynorstrom1

Well our Serenity Partners issued an interesting RNS this morning - a significant upgrade of resources in one of their Irish licences (Inishkea West) although a downgrade of resources at what previoulsy was the flagship (Inishkea). Two other positives in the announcement - increase COS due to increased confidence in the trap / seal and intention to file an extension request on the licence. Be interesting to see the market reaction this morning - i'll eat my hat if its not positive.

On our Capital restructure - positive in the sense it is still proceeding with no apparent issues but I dont expect the SP to be doubling based on it for a couple of reasons:

1) It should be a formality which many shareholders will have factored in already.

2) Its really just financial engineering and does not impact the underlying cash / cashlow

Does seem like very good new Inishkea West significantly upgraded although Inishkea down graded. Licence extention application also very positive assuming it gets approved - more seconds on the clock ! Lets see how the market reacts.

Louis10(omg)

I was quoting someone who’s Judgement is equally as poor as yours with regards to what is appropriate to post. You should both be reported and banned!

If anyone agrees that this kind of post from Louis10(OMJ) is inappropriate - there’s a report button bottom right - hopefully they will ban him.

Stas - interested to here your thoughts on the support and resistance levels here.

Have you been trading this - the spreads have been pretty tight and I’ve been able to jump in and out with a very small trading position and earn a bit of beer money.

I had to buy back in again though because - and I hate to say this - “you wouldn’t want to be out of this over the weekend!” - with news pending in the next week or so.

"They're indisputable facts by the way. And before you say 'well that's your opinion'" - I think you have recognized in advance that this is your opinion and not an indisputable fact -something that seems to confuse you (fact v opinion)

"The other benefit is you wouldn't need to have your tongue up Majid's @ss all the time, although I'm starting to think you enjoy it so much that you'd do it anyway."

classy and very childish - you can appologize once you get your emotions in check !

I'm hoping that you get your 16p plus and allow you to get out. A positive for you and also I think a positive for i3e - sentiment has been pretty poor and for one of i3e's most ardent critics -its time for a reset.

Couple of interesting articles from boe.com:

Pipestone Valued at CAD 27.7K per flowing barrel.

Slightly lower liquids mix (41%) but slightly higher Condensate / Oil (28%) than i3e. Assuming all else is equal (may not be - not sure what their acreage looks like) - this would put i3e on 28p if on the same metric.

https://boereport.com/2023/09/27/strathcona-resources-cements-its-reputation-as-a-strategic-counter-cyclical-acquirer-with-pipestone-shareholder-approval-of-acquisition-boe-intel/

https://boereport.com/2023/09/27/xi-technologies-what-do-tax-pools-have-to-do-with-ma/

When they know what those precise dates are - then i'm sure they will notify the market appropriately.

However - you stated in effect that an email communication should have been issued by RNS - i'm saying rubbish - the email was inline with information already provided to the market via RNS - so no "need" to update the market further until they have something concrete.

Cannuck:

1) as per the June corporate presentation - Simonette is producing 2300 boepd of which 51% is oil/ Condensate - condensate usually sells at a premium to WTI. In addition neighbouring acreage has sold at a premium - so not sure at all how you consider this a stranded asset. Its an extremely valuable asset and a core asset for i3e.

2) North Sea - there is nothing in the SP for the North Sea and in fact it is probably a no lose situation now. If they are able to monetize - upside !! If they give up the licence then I think the market will possibly also react possitively since nothing is in the SP and many shareholders want i3e to give up Serenityanyway. So not a stranded asset yet and even if it turns out to be worthless - not material to i3e's future fortunes.

So i'm not sure at all where you are coming from other that going out of your way to post this can of negative take on multiple forums under 3 different names.

"thanks for posting your email reply but that needs to have been in an RNS" - no it doesn't - it could have been and perhaps they could have considered it but it certainly does not need to have been.

point 1) is pure speculation on your part

point 2) is standard procedure

Management have already said any acquisitions if any will be funded primarily with debt.

The stranded assests i'm interested to hear more about !

Cannuck is posting on three seperate forums under three different names - quite often spreading misinformation.

Ask him to explain the stranded assets.

WCSBCanuck - you must be one of the least researched posters on here ! You dont get very many poster responding to you - I guess most recognise rubbish when they see it !

And I took a que from Stas20 and sold my PANR holding at a small profit and bought in another 60k shares a short while ago.

Lets go Majid !!!

Naturally investors are waiting for the official announcement and are a little nervous, however, I did ask i3e the question via email less that 2 weeks ago -here's the response:

"The capital reduction process is ongoing. We don’t anticipate any issues and expect it to proceed to completion. We have enough retained earnings to pay the proposed Q3 dividend. Subject to clearing the loan covenant checks at the end of the quarter (based on current projections and prices, I don’t anticipate any issues with these), we plan to pay the dividend."

The process last time out was more expedient - however, I dont think it is that unusual to experience court delays. and based on the above - I see no issues.

You didnt give me the read on PANR - I ended up buying a few there rather than adding more here since I already added a chunk at the start of the week.

Yes Stas - it was said a bit tongue in cheek. Your second point is interesting but I do expect a dividend announcement and drilling plan shortly as a minimum.

Vote of confidence from the CFO !

Ok - I’ll retract my misinformation comment for you - but the post still doesn’t make a lot of sense. The loan notes WERE discussed from time to time but I’m not sure why they HAD to be discussed and why anyone was ignoring them.

In the end the timing may not have been ideal if but there was never any major issue with them for a Company generating the CF that I3E does. The fact that they were able to renew on decent terms and in fact have an additional CAD 25m Accordion facility undrawn seems to suggest this was the case.

Have you been on the sherry Pete - no idea what your talking about?