I3 Energy Ord Shs T.ITE

ITE

[baranja]

Why is this board dead?

[JayBanks]

Is a relatively unknown, oil company that is falling while oil price is rising and has cut its dividend recently, exciting?

[PabloLafortune]

I looked at this, I don't think this is a viable operation long term, cost structure is way too high plus they have no money for capex. I have absolutely no clue what the assets could be worth in a sale process. Btw, the Chairman of the Board Festival (bought $100K worth of shares recently) was CEO of Blackpearl until it was acquired by IPCO in 2017.

[baranja]

I had that feeling too. This is just a quick and dirty way to milk it and make a quick buck via dividends. Defiantely wierd company. A Canadian company run by British managament under british rules. If oil price goes back up, I am sure they will raise the dividend

[GuidoSan1]

Unfortunately this stock is run by a bunch of clowns. Great but somewhat scattered properties, decent production with much potential (if narrowed down and concentrated on), all with a Canadian management team that sorely sucks and has done nothing in 3 years at the helm. Maybe some 12 year olds could help, lol. None the less breakup value currently stands based on all financials available at

[Quintessential1]

I agree they do seem to march to the beat of a different drummer.  I was invested earlier and left due to a lack of basic communication that other Canadian junior producers seem to embrace (probably because they know where their investment bread is buttered).  I keep a good eye on it though as I thought I might like to re-enter at some point and I am thinking this may be the time. Am I

[PabloLafortune]

One of the conditions of the re-financing is they have to repay the principal of the $75M loan in 3 years? Since they're also spending very little capex atm ?- not even enough to sustain production ? - they obviously can't afford to continue paying a dividend?  What they need is better natural gas prices. But fundamentally, the company structure makes no sense for the nature of the

[GuidoSan1]

And maybe that's in part the problem, London may indeed tie the hands of the management team in Canada with self interest ongoing, doesn't preclude the fact this team is simply a failure in 3 years at the helm, especially considering  I3 bought some amazing properties in various key producing regions Alberta and B.C at distrested prices. I have an updated speculative per share worth

[GuidoSan1]

Sorry not proof read before posting, thx Stockhouse for making me look like a dummy too, lol, cheers.

[Tony97]

in my humble opinion - this post is a load of rubbish: 1)  "......doesn't preclude the fact this team is simply a failure in 3 years at the helm". i3e 3 years ago were on the verge of bankruptcy with zero production, zero revenue, zero reserves and about $25m of debt ! 2) wind the closck forward 3 years and they have over 22,000 boepd production, 184m boe 2P reserves, a

[GuidoSan1]

Well 97 a nerve has been struck I see, always fun to see someone from the company hop on to these boards in defense of a failed to date management team. Failed yes Roughly a 36% decline in share price over the past year. For you to state a roughly 8% dividend is still quite "tasty" is quite humorous when the only thing that achieves that percentage is again the fact of the share price

[Tony97]

Guido - No nerve has been hit and also im not from the Company - I have posted to correct the misinformation that posters like you are spreading. The share price has been very disppointing (sure) and principally due to the divided cut. i3e misjudged oil prices and set the dividend too hign (and capex) and had to cut simples and sensibe. At the time however it was pretty much market leading. the

[Tony97]

Simonette is i3e's Montney play - so what assets are you actually talking about devekoping and which  selling. Sounds like you may be a little confused

[GuidoSan1]

97 yes my bad for not fully completing opinion. Not elaborating on numbers, EV per flowing barrel, EV/EBITDA, etc. or any other metric you wish to reference, they are all in I3's guidance . Sell Simonette, for say 50m a handsome return from initial investment and production increase to date. Ramp up and concentrate on the Clearwater play completely underutilized at this point. Share

[PabloLafortune]

Simonette for $50M? I'm not an O&G person but my uneducated guess is its worth a lot more than that. P

[Tony97]

Imo - not a balanced post: 1) they spent very heavily on Capex in 2022 - probably on the higher end v peers on a percentage of market cap basis. Its the main reason they have had to trim back capex in 2023. 2) they have $25m in cash and along with most Canadian oilers are now generating pots of FCF - so they have the funds to upsize their 2023 capex program. 3) Cost basis is high but they have