Member Info for tonynorstrom1

"It is frustrating, the BOD have zero interest in boosting the SP and never will IMHO."

Why in your opinion is that - it does not make sense - Management have a significant shareholding to - particularly Majid.

"I also find it hard to believe that mgt have nothing to say about what they're doing and planning"

Maybe it shouldn't be that hard - I would imagine the Q3 covenant check (at the end of Q3) determines what they can do / announce.

Louis10 - just for completeness - what is the monthly subscription for Jims "Exploration News" and what is the difference between Exploration News and his Regular News Letter?

No email from Majid this week - last one I had was on the 14th Sept in response to my question on the Peters & Co conference - I shared the response here.

I did send an email to Investor Relations on where's WHI's updated report along with the Canaccord Genuity updates - as ever - I will share if I get a response !

What game Louis10?

01-Aug-23 31-Mar-24 10,000 CAD 2.760

01-Nov-23 31-Mar-24 15,000 CAD 3.226

These AECO gas hedges beginning to look pretty smart !

Please clarify Louis10 - is it key information or not?

Many are saying on the PANR and PRD that you are Oilman Jim and that this is nothing more than promotion of a new Paid News letter (his / yours)? Your posting history suggests so.

I have a spare £10k that I'm going to put into either i3e or PANR (or maybe even EMO) on Monday.

Question to Stas20 - from a purely technical point of view i3e or PANR and what would be the potential upside / downside from here ?

Perhaps Lewis10 - but you said something similar at PANR - its up over 300% since you said death spiral - its heading for pennies.You seem to have disappeared from the PANR BB with your tail between your legs - why is that ? Better get back with Jim and re-jig the research !

I added about 350, 000 shares here this afternoon - do you think I will make money ?

Q2 was pretty much covered by the interims. I’d be surprised if they issue a separate Q2 report - more likely a dividend and revised capital announcement early next month followed by a Q3 announcement (imo only)

Have you thought about selling up here and investing in a BOD you do rate. You've only made about 2.5x your money in less than 3 years and with the crap dividends - it's an appalling return - I would have sold up.

Interesting article:

https://oilprice.com/Energy/Energy-General/Why-Oil-Stocks-Are-Lagging-Behind-Soaring-Crude-Oil-Prices.html

1) cheapest sector

2) Most buy recommendations

Patience - our time will come!

I have them at around £18m in cash as of the end of September and another £14m available with the accordion facility. I also estimate they are generating nearly £3m a month of excess cash after payment of the dividend, taxes and debt/finance charges.

So they could drill up to 3 Clearwater wells a month out of CF without drawing down cash.

They have available funds so its a question of where they spend. If they're no longer eyeing up an acquisition - I would expect a significant upsizing of their drilling program.

They have done Seismic work - not sure where. Its possible that this helps support a farmout but I would suspect they need more drill results.

"Given that it makes perfect sense NOT to drill in Simonette - unless we would prove a new play - but I think this work is done already. Out acreage there gets more valuable month by month, so no need to drill it."

It makes sense to drill your highest rate of return wells whether this is a $1.2m well in Clearwater or a $9m well in Simonette. Simonette is not proven out yet - i3e have drilled only 2 wells - one in the North (Gas Weighted) and one in the South (Oil Weighted) both in the Montney formation.

Simonette has multiple horizons and the drill originally planned for this year was targeting one of those other horizons . I sent i3e an email 6 months or so ago about development of Simonette / Montney and the progress on a farmout - the response was to the effect that they need to put an information pack together before they can realistically farm out and they need more data / results.

Clearwater wells are cheap (around $1.2m) and have great economics but I don't think you can get 11 for the cost of 1 Simonette Well.

https://www.google.com/search?sca_esv=567513126&rlz=1C1CHBF_enZA1031ZA1031&sxsrf=AM9HkKmQY0gZ2RhxUz6vLah_uCbUCr2fkw:1695363503162&q=ryan+heath+and+majid&tbm=vid&source=lnms&sa=X&sqi=2&ved=2ahUKEwilzfuayb2BAxVzSfEDHfkqCYgQ0pQJegQICxAB&biw=1707&bih=773&dpr=0.8#fpstate=ive&vld=cid:7780fe00,vid:AM_HoLLGxH0,st:0

Presentation from January this year. Ryan Heath goes into more derail on each of the 4 main assets from 35 min's in. Worth a listen.

Simonette wells are about $9-$10m on a one off basis, however, because of the high fracking costs - if you were to complete 4 wells at one time - this comes down to about $7.5m per well.

"May be they should sell while it's hot?":

I'm looking at page 17 of the July presentation - i3e's montney wells have the quickest paybacks (0.5 yr), highest rates of return and highest NPV10's - why would i3e sell what looks to be their best acreage ??

"It's interesting to see that they can't afford to drill Montney at $11-$13M a hole.

With paybacks likely to be considerably less than 6 months at $90 Oil - I would think that they cannot afford not to drill them. There's a reason the Montney is currently where all the drilling is. Expect to see a couple of wells drilled early next year.

Thanks Stas - what if its not a day trade but your looking to hold for a few months - say up to the testing at 88e which is early next year.

Stas20- what price now would you be looking to buy at?

Interesting RNS from 88E this morning. I recall Jay once saying that "big oil fields tend to get bigger" as more work is done on them.