Pro_S2009
15 Aug 2019
I3 Energy - North Sea Oil Borgland Dolphin status now underway off to spud the first well for I3E. MarineTraffic.com Vessel details for: BORGLAND DOLPHIN (Platform) - IMO 8758469, MMSI 563567000,... Vessel details: BORGLAND DOLPHIN. Discover the vessel's basic Details, including the vessel IMO / vessel MMSI and vessel Call Sign. Type: Platform Vessel, Registered in Singapore. Find dead-weight-tonnage, Gross Tonnage and the Year of Build vessel... .
Pro_S2009
14 Aug 2019
I3 Energy - North Sea Oil Off we go [link] i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that the Borgland Dolphin semi-submersible drilling rig has completed its acceptance testing. The Borgland, which i3 has contracted for a 94-day drilling programme, is commencing move preparations today and is expected to begin transit shortly thereafter towards the Liberator field where it will initiate drilling operations. i3’s 2019 drilling campaign is expected to include: · The Block 13/23d LPt-02 pilot well which will optimise the placement of the first Liberator Phase I production well, LP-02, planned to be drilled in 2020 · The Block 13/23c (“Liberator Westâ€) LA-03 appraisal well (70% commercial chance of success (“CoSâ€))1, expected to partially convert Liberator West resources into reserves · The SA-01 well (72% geological CoS)2 into the Serenity prospect that i3 expects will prove a material extension of the neighbouring Tain discovery As previously announced, following the 2019 drilling campaign referred to above, in 2020 the Company expects to undertake further development drilling and to secure delivery of first oil from Liberator at approximately 20,000 bopd. With the successful appraisal and development of Liberator and Serenity, i3 could potentially produce more than 200 MMbbls3 from its current licences. Majid Shafiq, CEO of i3 Energy commented: "We are delighted to announce today the successful deployment of the Borgland Dolphin to the Liberator area. If successful, each of the wells in the drilling campaign are of significant value to i3 and our shareholders and could add significant production volumes to the North Sea. “I would like to thank both Dolphin Drilling and Petrofac for their efforts in readying the Borgland Dolphin rig for safe deployment to the Liberator area and, with drilling now set to take place soon, we look forward to updating the market on the results of each well shortly.â€
Pro_S2009
13 Aug 2019
I3 Energy - North Sea Oil Energy Voice – 13 Aug 19 i3 Energy set to begin drilling work at North Sea Liberator field - News for the... North Sea exploration firm i3 Energy has confirmed it is set to start drilling work on an appraisal well in the Liberator field in the Outer Moray Firth. North Sea exploration firm i3 Energy has confirmed it is set to start drilling work on an appraisal well in the Liberator field in the Outer Moray Firth. The company’s chief financial officer said i3 Energy were only waiting on Dolphin Drilling getting sign off on a drill rig to begin work. Liberator will be drilled using the Dolphin Drilling owned Borgland Dolphin, an anchored semi-submersible mobile drilling rig. Work is due to begin before August 15 and is scheduled to last 35 days. The appraisal well will be drilled by oilfield services firm Petrofac. John Woods, i3Energy’s chief financial officer, said the firm were only waiting on “clearing the final rig acceptance process†before drilling could begin. On the Liberator field he ad…
Pro_S2009
12 Aug 2019
I3 Energy - North Sea Oil 3 wells. CoS 90% then 70% then 70%. Potential to prove up 500MMBO of which 200MMBO recoverable. If those 3 wells come in then 500p a share is possible. 94 day drilling campaign - going to be exciting. Spud for the 1st due anytime soon once the rig moves.
Pro_S2009
12 Aug 2019
I3 Energy - North Sea Oil Video link gives a great introduction. The rig should be moving soon to commence the first well. CoS of around 90% for the first one. Very interesting play this one with good potential upside !!
Pro_S2009
12 Aug 2019
I3 Energy - North Sea Oil Web site : [link] i3 Energy’s core asset is the Liberator oil field discovered by well 13/23d-8 located in License P.1987, Block 13/23d in which it has a 100% operated interest. i3 Energy’s strategy is to focus on the development of discoveries located close to existing infrastructure and the exploitation of producing fields, whilst maintaining limited exploration exposure. i3 Energy has a strong management team with a track record of delivery. Jan 2019 Presentation : [link] June 2019 Proactive Presentation Video : [link]
Ripley94
31 Oct 2018
First day dealing yesterday. IPO i3e… XXXXX RNS … @ 9.22 am went to top of risers table up 30 % must be a short squeeze.
Ripley94
25 Sep 2018
First day dealing yesterday. IPO I3e… Down to 10th May price today @ 68
Ripley94
22 Sep 2018
First day dealing yesterday. IPO i3e … XXXX My last post in August was the high price. Big fall back this week down to the price i sold at in February .
Ripley94
15 Aug 2018
First day dealing yesterday. IPO I3E… XXXX So much for Winnifrith and share prophets 120p today they must have closed the short and of course not printed that . None left all trades in ( D )
Ripley94
07 Jul 2018
First day dealing yesterday. IPO i3E… In hindsight big mistake taking profit here in mid Feb. I see 113p now 50% increase an example of momentum buy style. And how wrong share prophets/ Winnifrith advise can be . They must be recommending there own book , and were shorting this one . I did not notice them closing there short but ques not in there interest to do that.
Faulks
30 May 2018
Re: fao faulks No debt Suresh, only these loan notes which are being converted into shares.They are looking at a variety of funding options - most likely some form of Joint Venture which will see them raise approx $200million for a share of their licenses (up to 33%) plus a return on the investment, the terms of which are currently being negotiated. See below from January RNS...--------Multiple funding options at an advanced stageAs previously announced, the Company has been progressing multiple funding options to finance its 2018 development programme and is pleased to report that it is in advanced discussions with multiple industrial parties regarding potential JV arrangements relating to both its 100% owned Liberator Oil Field and its application within the UK's 30th Round.Pursuant to these discussions, the Company has received indicative commercial interest from a counterparty to provide 100% of the funding for a multi-well development on Liberator and the Company's 30th Round application block, amounting to estimated total capital commitments of approximately US$200 million.JV discussions have reached a mature stage and, should these commercial arrangements conclude in an expected six to eight weeks timeframe, the Company would maintain a working interest of no less than 67% in its Liberator and 30th Round application blocks, after a multiple of the capital commitments have been refunded to the parties from post-production cash flow.The Joint Venture discussions also contemplate capital being provided to i3 by an industrial party to enable the Liberator development to proceed utilising that party's funding alongside other credit facilities, even in circumstances where the Company is unsuccessful with its 30th Round application.
Suresh786
30 May 2018
Re: fao faulks thanks for detailed reply,is there any debt?what type of funding they are looking for? debt or farm-out
Faulks
25 May 2018
Re: fao faulks Hi Suresh,It's worth looking at their November presentation:[link] They are not currently producing but own 100% of the Liberator field which was discovered by Dana Petroleum a few years ago. The plan was to commence production this year but they were recently successful in a bid for a license adjacent to the one they already own (which Liberator extends into). Have a look at the last RNS and the CPRs are available on the website. They now plan an appraisal well in Q4 this year which could increase their resources to 80mmbo. The appraisal well has been allocated a 70% CoS by AGR.Breakeven costs are less than $25/barrel and they were expecting 10,000boepd from a single well with only $41million CAPEX. With the additional acreage, they are revising the FPD.They are now in advanced funding discussions which have been ongoing for some time. Now that they have the additional acreage, these discussions can be brought to a conclusion. They have previously stated that they expect to maintain a working interest of no less than 67% of Liberator and the 30th Round application licence.James Caird Asset Management (JCAM) have just converted loan notes into 926k shares which they are currently offloading. I think this is what's holding the share price back from now (plus some who got in early taking profits).So at the moment it's only got a £37million market cap and for me, it could be many multiples of that once they've drilled the appraisal well and commenced production (expected in the next 6-12 months).The CEO & CFO (previously of Ithaca) are experienced in the North Sea and determined to make a success of this company.Next price driver is the funding news, and the terms will determine how the share price reacts, but for me at the moment it remains undervalued and has significant potential in the short/medium term. You don't have to wait 5+ years for first oil, this is one for the next 1-2 years.DYOR though and all the best!
EasyBrent
24 May 2018
Placing coming? All the red flags for a placing coming in #I3E 1) Ridicules resources increase RNS based on an award of a new license, 2) Paid for interview on Proactive Investor and Voxmarket podcast, 3) No progress in the JV funding which was supposed to be completed in March. Placing time!!!
