50p by Q419 Jun 2022 18:17
This week I couldn’t believe my luck, when the SP kept on dropping, so I’ve topped up and will keep on topping up.
We are looking at a minimum price of 50p by Q4 and this week just got PI’s to panic sell ( fools selling, getting robbed).
The fundamentals of the company are amazing, hence buy when others are fearful, I double dare the MM to drop the SP again tomorrow morning, I have my money waiting for them.
- over 20k barrels per day
- No debt
- serenity drill soon
- results from Simonetta and several other wells this week
Also been reading over previous rns and the things below stood out for why I invested originally
“ Highlights
-- Record Corporate Production on Strong Operational Performance.
o Based on field estimates, i3 exited the first quarter of 2022 with a record weekly average production of approximately 20,312 boepd comprised of 61.1 million standard cubic feet of gas per day ("mmscfd"), 6,290 barrels per day ("bbl/d") of natural gas liquids ("NGLs"), 3,522 bbl/d of oil and 316 boepd of gross overriding royalty interest production.
o Current production continues to exceed expectations due to continual outperformance of the Company's low decline production base, which has been further enhanced through strong drilling results via i3's inaugural development drilling program.
o Based on forward strip pricing at 31 March 2022, i3 now forecasts full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) of $192 million, a 28% increase over that predicted in the Company's December 2021 capital budget announcement. This increase reflects the upward shift in commodity prices, in addition to well results that have bettered i3's pre-drill forecasts.
-- Acquisitions within Core Areas Provided Significant Reserve Additions.
o Proved plus probable developed producing reserves ("P50 PDP") increased 262% to 60.1 million boe, total proved ("1P") reserves increased 163% to 85.3 million boe and total proved plus probable ("2P") reserves increased 185% to 154.1 million boe, compared to the prior year.
-- Material Increase in the Company's Reserve Value.
o The Before-tax Net Present Value of cash flows attributable to the Company's reserves, discounted at 10%, has been determined to be $354mm, $444mm, and $775mm for its P50 PDP, 1P and 2P reserves, respectively, being indicative of the Company's strong production base and robust portfolio of economic development opportunities.
-- Accretive Acquisitions Provided Significant Reserve Additions on a Per Share Basis.
o P50 PDP net present value ("NPV"), using a 10% discount rate, increased by 231% to GBP0.24 per share, 1P NPV increased by 195% to GBP0.30 per share and 2P NPV increased by 172% to GBP0.52 per share, as compared to the prior year.”
“ F ull-year 2022 net operating income ( "NOI" = revenue minus royalties, opex, transportation and processing) is now forecast to be $241million for 20
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