i3 Energy Plc. T.ITE

WH Ireland updated target price - raised to 60.6 pence

[Proselenes]

WH Ireland upgrades its Target price to 60.6p



Significant increase to fair value estimate and first 2023 financial projections
We are updating our financial forecasts, providing our first financial forecasts for 2023, and increasing our fair value estimate for i3 Energy to 60.6p, up from 49.8p, to reflect both stronger production and higher commodity prices.

Production outlook: We are increasing our production estimate for 2022 to 21,077 boe/d from 20,343 boe/d on the company’s increased (now $US 97M) Canadian capex budget. We are also providing our first 2023 production estimate, 23,762 boe/d, which assumes that the company duplicates our assumed 2022 drilling programme next year.


.

[Proselenes]

WH Ireland upgrade their target price to 60.6p This was the conclusion of their updated note : Source : WH Ireland note 14th June 22 .................Conclusion: We believe that i3 Energy's forward-looking outlook is, by far, the best it has ever been. We believe that the company's Canadian outlook is underpinned by low-risk drilling. The commodity outlook is robust. We expect the oil

[Buyreallow]

That equates to about 95 cents Canadian.  I can deal with that.  Would give me an almost 5 bagger.

[mjh9413]

Original TP was 49.5p and we are not even seeing 49.5 cents CDN. Am long but current state  of affairs does not seem to accommodate prodn and price estimates. eom

[Buyreallow]

In the next 4 to 6 weeks Ty will announce q2 results.  That will be the first catalyst.  In the 2 months after that hey will announce the Ser nifty well has been spudded.  That will push over 75 cents Cdn. North Sea production put us well over $1.00

[Anonymously]

Your prediction is considering the current market sentiment of a possible recession?