RE:Shawn359 ; Thanks! I could see that happening in the short term. I'm from Canada and recently heard of this company and am just trying to get a sense of it. (Bought in at 26c)
I have a couple questions maybe you might be able to answer…
With the announcement of the UK phasing out Russian oil in 2022 and the added emphasis the Prime Minister put on permits for the North Sea today(I read it on yahoo finance) will this be a big benefit to ITE.TO? I know they are attempting to drill another well in the North Sea Q3 that could add another 30,000bpd on top of the 19,000bpd they currently produce.
Also in the Sept 27th, 2021 interim report it said that a dividend distribution of up to 30% of free cash flow to its shareholders… does this still hold true for 2022? Is it likely that they might increase the dividend payment next month? I’ve included the quote from the statement that caught my attention.
“The Company's focus for the remainder of 2021 will be on 5 key areas:
1 The growth of i3's Canadian business by way of operational excellence, capital deployment and strategic upsizing in core areas;
2 The farmout of its UK licences to conduct further appraisal drilling at Serenity and/or Liberator;
3 Dividend distributions to its shareholders of up to 30% of free cash flow;
4 Conducting our operations safely and in an environmentally secure manner;
5 Continuing to develop our ESG strategy and publishing our maiden annual sustainability report."
Thank you for your time.
I’m looking forward to end of March when the sustainability report is released. I think the year end report on June 1st, 2022 will be stellar!!! So many potential catalysts for this company in the next 6 months….