Member Info for zeusfurla

Div We've had significant buying since last week - agreed. I use RSP on L2 on and off through the day to get a more realistic feel for what real buys and sells are going through although of course the MM's try to obscure this whenever they can. I'm confident we have had considerably more buys than sells over that period. If the MM's are short and don't have access to a pool of shares on completion we would see a rise - nothing is certain on AIM however.

Yachtmaster I have no doubt that MM's are being rewarded for pushing this down. From a quick scan today I estimate 350k buys and 275k sells (of which 3x 50k look suspiciously like MM drop-ins as we have seen in the last few days). So more buying than selling and the sp drops, along with vwap. I wonder who benefits from that?

The same bid and offer price can allow the MM's to obscure what is really going on. My guess is that we will see some more decent sized round number sells or 2 around 34p which I believe are going into the MM's back pockets for the imminent re-rate. This is just my theory and I accept there are other possible explanations.

Maybe someone more knowledgeable than I can explain why Shore Capital are selling and buying at the same price 34p. Still Peel Hunt that are driving the bus here.

Sankeys I am no expert on L2 but report exactly what I see on RSP which is a real-time quote service for MM's amongst other things. It is possible to buy at 34p if that is the stated offer price but only to EMS max without a phone call to your broker. I don't track RSP every minute of the day as I have a day job but from what I saw the overwhelming majority of trades at the offer price were sells not buys. It may be that the MM's were flitting around with bid/offer prices to mislead (would they do such a thing?) but I stand by my view that today has seen mostly selling at the offer price.

On the VOX podcast of 8 November Andrew Knott said after Court approval, it will take c2 days for the mechanics of the deal to be done, then we move into growth mode. Given the more aggressive behaviour of algo's and MM's today they may only have 2 days to try to push the sp down a bit. Buying not so strong as many will have taken positions in the past week. Excited about imminent news on 1st oil and drilling . I'm quite happy to wait for farm-out news - it needs to be the right deal and SAVP are negotiating with top quality advisors from a position of strength in my view.

Thanks 1750mk1 - I need to type faster - over 400k trades and 9.6/9.9p. Some panic perhaps but we can't forget that Coho is only 2 weeks away at most.

Some to buy now at 34.6.

Current market pricing is 34p to sell, 37.4p to buy - the MM's don't want to sell to you, just offload their seller shares so they can get their cut. Unregulated and corrupt as usual for AIM.

BWM I see yout contiued de-ramping of this share continues. Fortunately most on this board now know to ignore your posts. At present thereis no evidence of further selling by LO, although it is clear that the Market Makers have sell orders on their books - it could be from elsewhere. I've followed today's trading and really the MM's have excelled themselves again. At 33.8, 33.9 and 34 on the offer, it has not been possible to buy. However it has been possible to sell at these prices. Quite a few sells have gone through (which look like buys) which have then allowed the MM's to offload chunks of shares from their sellers and lift the bid price. Certainly not transparent behaviour but it shows that the MM's can't afford for the sp to drop too far just now. It is in a range that the seller requires to sell at. Buyers are hanging back as they know there are sell orders on the go. However, if we think medium term ie 2-3 weeks down the line - the A2 result makes all this short-term stuff irrelevant. A successful drill result (highly likely) is positive for the sp. Now is a good time to stock the cupboard with i3E shares imho.

Market makers today have taken the opportunity to push the sp down on low volumes imho. Just over 200k trades approx £25k at most and the sp is down c20% - that is not a measured response to the voluime of trades through today. I expect that a floor has been reached given that we will receive news on Coho-1 by next tor the following week. If we recall from Paul's interview a week to test and a week to get results out - end of next week or the following really is not long to wait. Given the earlier RNS we know this will contain good news on commercial gas. We just don't know how good the news will be. However we should remember that gas is not taxed as onerously as oil in T&T and this is good diversification for the company. The market doesn't like delays and in addition the financial position has increase income tax and reduced Brent prices - this is likely the worst quarter results we will get. Production is at a good level given minimal development in the last quarter and we will receive the tax credits for Cascadura likely in Q4 this year. There has been an over-reaction today by the market imho. I expect the Canadian market to be more positive as it closed higher than we did yesterday. The company has an extended line of credit to $20m. Woud they have got that if they didn't have a strong business case?

I've checked tomorrow's Court 10 and there is nbo carry over showing from today which I guess was possible. A positive sign.

Key wording from last RNS as a reminder. Putting this together with Paul's recent interview comments I think Casca news is more likely next week and that Coho-1 should be any day now. From memory, he said a week to test and a week to get results out. May combine this with an update? Not long to wait and expecting really positive news on both with perhaps ongoing production down a bit to 1600-1700 bopd range given lack of new drilling.

'The expanded facility will primarily be used to fund the Company's Cascadura-1 exploration well, which is currently drilling and is anticipated to reach total depth in mid-November. In addition, Touchstone has moved in a service rig to Coho-1 to commence production testing. Test results are expected to be available in mid-November.'

High Court business for tomorrow, starts at 10.30. Looks like we are last up so may be late Wednesday or Thursday before we hear anything.

'In the High Court of Justice - Business and Property Courts of England and Wales
Interim Applications List (ChD)
Parties appearing in the applications court must note that the applications court works from hard copy documents. The judge does not work from CE-file. Accordingly, in addition to the usual lodged bundles, any additional documents such as skeleton arguments or late-provided documents (whether or not they are also filed via CE-file) should be made available in hard copy, either via listing or to the judge’s clerk in the normal way (though skeletons can also be provided to the judge’s clerk via email if time does not permit the delivery of a hard copy).

The Rolls Buildings,
Court 10
Before MR JUSTICE MORGAN

Wednesday 13 November 2019
At 10:30 AM

Interim Applications List

BL-2019-001998 Satfinance Investment Limited v Philbrick and others

PT-2019-000908 Spence v Allie

CR-2019-007449 Seven Energy International Limited'

RK Terrific interview sets out the thinking thathas gone into developing BMN over the last few years. There is a consistency in message and strong belief in the approach aligned with a really professional management team. This will be a star performer of AIM given a little time for V prices to turn. 'Huge upside' as Fortune said.

Watching RSP today it seems that the MM's do not want this to fall much and would be happy for a small rise. This may indicate that they have a few to sell but at around the 35p level. All just imho.

DelBoi Well said. There is space for all views on this BB as long as they are rationally explained and genuinely held. I acknowledge the vision of others in anticipating warrants and/or placings. It should also be acknowledged that given the scale of find at Serenity on top of what is imminent at Liberator these additional warrants/placings do not reduce the future value of investing in i3E. All readers willl make their own mind up but it is clear to me following trading in detail last week through RSP on L2 that the current sp is not a reflection of value. We have lost c15% of our II's in little over a month - any company would suffer from that and yet we have had millions of shares bought in the last week or 2, many I suspect by PI's who see the real value here. Even the binary A2 has been considerably de-risked in the unlikely event of it coming up dry by the extension to the drilling period. Hihghly professional management thinking on their feet and adapting their tactics to a changing environment.

We'll find out on Monday if another LO RNS hits but we did have a 3m sell yesterday and todayt there has been more selling so I'd suspect it is more than just LO. Impossible to say when it might clear but at the end of it PI's will own more of the company.

Vox podcast - short and to the point - a good intro to SAVP for newbies. Strengths are - strong II base, 7E cash generator c$150m pa, Niger 5/5 discoveries and 100 to drill with 1st oil soon, good economics to expand in Nigeria given quality and capaity of infrastructure.

JustBe I suggest you get toddle off to another board. Looking at your past history you are not here to provide 'balance' but to de-ramp this share and scare PI's - it won't work. There is no guesswork in investing in i3E or lack of confidence from PI's if you look at the millions of shares bought this week. LO have exited to the tune of over 4% (and maybe more) which is keeping the sp down for now. Significant oil has been found and if you look at the Options RNS just released one condition relates to 'securing funding for the Liberator Phase I or SERENITY development'. The inclusion of Serenioty is an indication of the prospective resource now on 2 fronts. The company management are certainly not short of confidence and neither should they be.