Member Info for Walkley

11.95p paid - looks as if the message is getting through. By the way I think issuing equity was the right way to go - I3E are now a very much stronger prospect and will not have to consider a low offer for the Serenity farm out - they may even be able to keep a higher share by financing some of the operation themselves.

Thank you for your replies GGG and Tony.

As I understand it the new shares were used to virtually double the size of the business -based on boe/d.

"The acquisition of assets from Cenovus producing approximately 8,400 boepd in the Company's Central Alberta core area, as announced on 7 July 2021, is expected to close on or around 20 August 2021. The transaction has an effective date of 1 April 2021 and income accrued in the period from the effective date to the closing date will be recognised as an adjustment to the consideration being paid for the assets."

WHIreland suggest that this gives I3E an extra USD 15.1m to end July - probably nearer USD17m by soon after 20 Aug when we should get the next RNS with completion of the deal.

Serenity included at 4.3 (out of 29p) value based on 10% of "fair value". Other N Sea assets valued at 2.5% (2.1p) of "fair value".

The market set the share price but I cannot see what is holding this back. I3 Energy is producing increasing amounts of oil and gas with stable and higher than expected prices (quite a lot guaranteed). They are actually paying a dividend and have N Sea prospects that will be worth something and exploitable at no cost to I3E. They are not just sitting there but investing in new wells and improvements for for quick (often less than a year) payback.

I know "research" notes such as WH Irelands are paid for by the company but their 29p "fair value" does look very safe - so why is the share price 11p - what have I missed?

"The second quarter of 2021 was another intensely active and transformational period for i3 Energy. The focus and dedication of our staff propelled our production performance, resulting in the Company exiting July with a weekly average field estimate of greater than 10,000 boepd.

Further, we commenced drilling operations in our Marten Hills and Wapiti acreage and in early July announced a strategic and synergistic acquisition in our core Central Alberta area of operations from Cenovus, which will take our production to over 18,000 boepd when completed later this month. This acquisition more than doubles our proved plus probable reserves base to 133 mmboe, in addition to materially increasing our unbooked resource portfolio.

We look forward to incorporating the expanded portfolio of opportunities into our capital allocation process and anticipate a very busy period of operational activity and news-flow over the second half of 2021. We are also very pleased to have paid our maiden special dividend and look forward to commencement of our cycle of semi-annual payments following publication of interim and year-end financial statements."

Perhaps the FOMO crowd will be balanced by the FOLA (Fear of Losing All) - selling a portion of their holdings to lock in the profit. Am sure they will learn a lot from this first drill but there is no certainty that there will be sufficient helium trapped as gas to be recoverable - helium does not dissolve in water. If you bought under 10p then might be wise to sell half!

Today’s RNS sounds as if might get something from receivership eventually.

“SMG, has an arbitrated claim for US$21.9m, has provided its June 2021 quarter report on the progress of the receivership of CVI.

The main items from the report are:

· Unencumbered cash held in Receiver controlled accounts was US$7,374,976.35 at the end of the June 2021 quarter. This amount is after payment of all expenses (including the Receiver's cost).

· The Receiver identified the potential to realise between US$10-15m from additional claims.

· It was not likely that the receivership will be completed before the end of this year. “

Happily, and surprisingly was able to buy yesterday at 10.81p - at less than the 11p recent offer. With banks being encouraged to reduce their lending to oil and gas companies to meet climate change worries borrowing was not an option. Issuing shares to buy earning enhancing assets makes sense - not sure why the market cannot see it!
Very positive analysts note from WH Ireland despite no mention of North Sea prospects which must have a value.

The cash cost of this first interim dividend is expected to be £8.4 million. We expect that, subject to shareholder approval, the final dividend for the 2021 full year will be not less than 1.0 pence per share, giving a total dividend of not less than 1.5 pence for 2021.

Subject to trading conditions and continued sustained cash generation, the Group intends to adopt a progressive dividend policy that targets a payout ratio of 40 per cent of underlying earnings per share over time.

“ and, in addition, the Group has a portfolio of PPP assets, no pensions liabilities and no debt or associated covenants. “ with full year profit before tax expected to be towards the upper end of the analysts' current range. The range of analysts' estimates for profit before tax for the year ending 30 June 2021 is £9.0m to £11.2m

London Stock Exchange alerts works for me

5th May - Q1 2021 average production of 8,856 boepd, outperforming expectations

2 July. - Q2 2021. Production in the second quarter averaged 9,142 boepd, which included the impact of routine facility maintenance on third-party facilities. Production since the start-up of the Noel well on June 17 has averaged 9,353 boepd.

Good production results and at a higher oil price

Sea of red trades here. Why?

What would a reasonable dividend yield on this stock?

12.2p paid

Thanks - lets hope the market is happy with 3% -so a 20p share price!

When the promised dividend arrives how big will it be? What are the likely dividends in the near term?

Only posting this as LSE now showing 20p . Actual deals at 20.45p

Reasonable looking results but no interim dividend.

As at 31 March 2021, gross cash balances totalled £8.0m (FY20: £4.8m) and the Group is now debt free following the successful early retirement of convertible loan notes totalling £5.0m that was announced on 4 and 16 February 2021.

Paying up to £10.5m for gross assets of £0.4m. Hope earnings justify this purchase!