Member Info for tonynorstrom1

I'll post it - he has quite a following so it may take a week or more before he responds - lets see.

Read your drivel or listen to a couple of hours of quality research - hmmm?

If Shubham does respond to the email - anyone interested in seeing the response or would that be considered a tree shake or deramping?

I don’t think we need oil at $120 to get to 30p. We need some good news flow for sure and I think with that over time we should rerate to aleast peer average in Canada which put us over 30p.

Cbaron - thanks for your reply and taking my post in the spirit it was intended (not to shake trees). If you rated his commentary - check out his website - lots of great stuff on everything Oil and Gas.

https://www.whitetundra.ca/

Buzz155 - I have no doubt that you are - but don't be to hard on yourself.

I did say I found his comments on the share structure strange and have already emailed him to explain further.

https://youtu.be/6a4e4QB1B18

I'm not sure whether many here know Shubham Garg - a young pretty clued up investor out of Canada. The above Webinar is about the Montney play in Canada, but at about the 2:50 hr mark - he talks about 88E and PANR. Not sure I agree about his comments on dilution and share structure - but he does have some informed comments on the recent well results and how they compare with other plays

https://youtu.be/6a4e4QB1B18

Shubham Garg is also in - some interesting comments at the 2:50 hr mark on 88E and PANR

https://youtu.be/6a4e4QB1B18

A really good podcast from Shubham on the Montney. Talked about the major players, best parts of the acreage, well productivities and lots more. Unfortunately did not mention i3e - I will bug him for a couple of comments.

He did mention both the Cresent Point / Kaybob Deal and also the Saturn Oil / Ridgeback Deal in the Q&A at the end.

He liked the Saturn Oil deal - believed they got a pretty good deal. Not mentioned in this podcast or the news release - but the 17,000 boepd includes 10,000 bopd (light oil) which makes the deal even better.

On the Crescent point Deal - doesnt like the assets and suggests that Crescent Point overpaid.

Check out the 2:50 mark - he's bought into 88E, and talks about PANR and the well results which he thinks are very good - he prefers 88E over PANR because of the dilution and share structure which he says has taken the value out of PANR - I did not understand that comment at all but hey ho - he normally knows what he is talking about.

When I say headline - what I should have said was the Company release (equivalent of an RNS) - which details all major terms which would include cash, debt and other conditions.

And also remember - were not talking about selling Companies - were talking about assets. Companies are sold with net cash / net debt - not assets.

No GGG - there’s no debt, no cash - it’s all about the acreage , production and IRR’s of the wells.

If you don’t agree - please go dig in and let us know what you find.

No debt as far as I know - it would have been mentioned in the headlines and I saw nothing.

3LB - one day you will surprise us and post something worth reading.

Louis10 - are you out pushing OilMan Jim's Blog again - you must be on commission !

elmore - Archimedes wrote his Principle on "Floating Bodies" in 246 BC - does that make it out of date and irrelevant ?

Much of the research in Doc's report is just as relevant today as it was back in March 2021 when he wrote it and in particular the points I was referring to specifically on the Clearwater Acreage. In fact his observations on Clearwater is even more pertinent now than it was back then as i3e have increased there net Sections to over 90 versus 50 or so back in 2021.

So what information do you think is irrelevant / out of date in relation to the point I was making - lets hear it.

https://ceo.ca/@drjimjones/10-bagger-in-oil-youve-never-heard-of-i3-energy

Check out what he has to say about the potential recoverable reserves in Clearwater (+200m bbl) - since then i3e have increased their land position and very little if any is currently booked !

Yes Tovac - please get your facts straight !

"some say $140 OR HIGHER as China reopens and demand increases."

https://oilprice.com/Energy/Oil-Prices/Andurand-Oil-Prices-Could-Exceed-140-If-Chinas-Economy-Fully-Reopens.html

Parge,

So I said I would get back to you on the Crescent Point / Kaybob Deal. In doing a bit of digging I came across this recently announced Deal (Saturn Oil / Ridgeback). Bought on much better metrics for the acquirer than Crescent Point and not as clear whether it indicates that i3e to be significantly cheaper based on the Headline Metrics. So not easy to make any straight-line projections and come up with an estimate for what these transactions say about i3e’s valuation.
What the Crescent Point Deal does indicate is that there is quite a bit of value in undeveloped acreage and Companies are now willing to pay for the right assets. When I looked at the Ridgeback Corporate Presentation – it talked about its Kaybob assets (Kaybob is about 80km from Simonette). The wells are cheap and very productive with IRR’s of 500% (650 bbl/day plus). Our Simonette Wells are as productive or even more so but are a fair bit more expensive and so do not appear to have quite as high IRR. Bottom line is that it appears to be location, location, location. Our Simonette and Clearwater Acreage is relatively unexplored – that’s why the next production update (including Simonette wells) and reserves update could be quite important in demonstrating the value of i3e’s assets to the market.

Doc Jones’s research piece on i3e from a couple of years ago – it talks about i3e’e acreage and in particular Clearwater with reference to Tier 1, 2, 3 etc – well worth a re-read.

https://boereport.com/2023/01/20/saturn-oil-gas-inc-announces-acquisition-of-ridgeback-resources-inc-expanding-production-to-approximately-30000-boe-d-and-bought-deal-financing-including-strategic-lead-orders-from-gmt-capital-co/

Saturn Oil / Ridgeback – 17,000 boepd (71% Liquids), 425k net Acres, 700 drilling locations, Purchase Price CAD 525m

https://www.crescentpointenergy.com/sites/default/files/news/crescent_point_acquires_kaybob_duvernay_assets_and_increases_base_dividend.pdf.

Cresent Point / Kaybob deal - 4000 boepd(50% liquids), 65k net Acres, 130 Net drilling Locations, Purchase price CAD 375m

i3 Energy - 22,000 boepd (50% Liquids) , 675k net Acres, 850 drilling locations (350 booked, 500 unbooked), Market Cap = CAD 430m.

So i3e is cheap, very cheap on many metrics but does not mean we have the very best acreage in all locations. I do think that we are significantly better that the average Canadian Oiler and that alone should mean that we should be trading on a significantly higher multiple. Probably no the answer you were looking for but its the best I could come up with.

Pork Pies !