Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
So, either Londinium is expecting further 'dil', or the trust in this company is permantly impaired.
https://twitter.com/Gugo907/status/1684362286671200256
It's the latter.
"What your opinion on tamarack taking us out "
Dude, this company is a 'consolidator'. It wants get bigger, not gobbled up.
Yes, Cenovus considered Deep Basin a burden, didn't want to expend any capital there. May have been a 'win-win'.
Also, Canada may not allow tax pools to be used for an area unrelated to the asset purchased. It'd have to be a 'hand-in-glove' sort of thing. Adjacent to what they already own. I suppose it worked with their Central Alberta play (Gain-Cenovus).
The same wells pre-purchase produced more post-purchase. Neat little trick.
If the likes of Polus and Miton don't mind, this board will approve.
Tony is prepping us for dilution, albeit smaller than previous instances due to the availability of debt.
Likely September sub $100M size, may be 50% debt, 50% equity
"If your wondering how much 5,000 bopd might cost - take a look at the following presentation from Prairie Provident:"
Ugh...I knew there was some incestuous shyte going on with hiring of that new CFO. He was at Prairie Provident prior...Shubham is holding the bag on that one.
"Https://simplywall.st/stocks/gb/energy/aim-i3e/i3-energy-shares/news/the-10-return-this-week-takes-i3-energys-loni3e-shareholders
Reasonable summary. Read to the end."
108% FCF payout ratio is pre-dividend cut.
FCF is so fungible.
"Despite II's increasing their holdings, other investors are now wary of buying here I think."
Jolly, I doubled my stake. I am being greedy while the proverbial "other " is fearful.
It's more of a bet on the general market, rather than the assets or the management of I3.
If the assets or management 'outperform', then that's a bonus.
They are saying they want to use debt this time. The currency of our equity is nigh worthless at this point.
So, i am stumped as to what could move this thing other than winds be they macro, geopol or actual weather.
And what do you think that will do to the share price?
Can anyone venture a guess? I am now far less sanguine that the BOD will approve share buybacks, so that 'reduction of capital' may not be of any use to the share price? There won't be any drilling till Q4, so I doubt anything comes out of operations.
So, I suppose we're at the mercy of the weather.
"hence I now doubt the decline rates portrayed "
Jolly, the decline rate comes from the reserves auditor not the company.
Also, please compare peak-to-peak and average-to-average production to gauge the hit on productivity from halving the capex. It's still +3% (meaning they offset the 17% decline rate and added 3%). It would have been +7% if not for the fires in the Wapiti area.
It is shocking how poorly valued we are. Logan energy with 4,200 boe/day and Montney lands just listed this week and is worth only $10M less than I3 with 20K boe/day.
Presentation queued to the relevant section here:
https://twitter.com/DerAchsenZeit/status/1681381240363159553?s=20
Great asset purchases, poor financial planning seems to be the theme. Perhaps that non-amortizing loan from the UK got stealithily amortized via unsustainable dividends. In any case, the picture is much clearer now. No chance to play games in Canada at this point. Cenovus/Gain appears to have real synergies, and pivoting to oil will help, but man oh man...what a basket case.
"3% growth needs to be far higher."
It would have been 7% if not for the fires. Still respectable, and commodity prices should increase going into H2.
Not sure how helpful that would be with regards to a potential buyback. Looking at historical AGM resolutions, that 10% buyback authorization has always been there, so now I am curbing my enthusiasm that the board would approve one this year.
" im not sure where the "dud" comment comes from."
Clearwater, while famous for being the cheapest to drill, is infamous for being a very heterogeneous formation. You may have the land adjacent to someone, but boy is it moody. Also, didn't they just disclose their Dawson well in Clearwater is producing a pittance of 81 bbls/day? Let's give it a 110 bbls/day + one more well in there. It doesn't sound lucrative so far doesn't it? Clearwater ain't easy, and I'd basically ascribe $0 valuation to a company that keeps touting it as a company maker. Show me the low decline 700-800 bbls/day....oh wait they are in Montney (Simonette)
JP Morgan may be Polus' broker, and Polus is dabbling with CFDs.
Clearwater is likely a dud, and I3 has been busy transfering wells from there to another operator.
The money makers are likely to be in Simonette at this point.