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I3 Energy PLC V.SH21062102


Primary Symbol: T.ITE

i3 Energy plc is an independent oil and gas company with assets and operations in the United Kingdom and Canada. The Company's principal activities consist of oil and gas production in the Western Canadian Sedimentary Basin (WCSB) and appraisal of oil and gas assets on the United Kingdom Continental Shelf (UKCS). The Company's wholly owned subsidiaries i3 Energy North Sea Limited and i3 Energy Canada Limited are independent oil and gas companies with appraisal assets in the United Kingdom and producing assets in Canada, respectively. It holds the P.2358 license in the UKCS which contains the Serenity field discovery. This licence also contains the Liberator field discovery and the Minos High prospect. The Company holds various mineral licenses across its main operating areas in the WCSB, being Wapiti, Simonette, Clearwater, and Central Alberta. The Company's Canadian production asset base consists of over 850 net conventional oil, natural gas and natural gas liquids production wells.


TSX:ITE - Post by User

Comment by Justhalffullon Feb 16, 2022 4:29pm
139 Views
Post# 34435343

RE:Glasshalfull ;

RE:Glasshalfull ;I can onlly go by what Shafiq says.  What I think does not matter.  And he said on the Q3 conference call that a reverse split was NOT in the cards at this time.  I understand the large share count.  They had to raise money to make the oilfield purchases, and they used the money wisely.  Now they say they want to re-invest in drillinig and reclamation of wells in 2022 to produce about 3000 boe/d.  That would more than offset the natural decline.  And they say they may use excess cash flow to repurchase shares.  Buying back shares in the 35 cent range may be the best use of the excess cash at this time.  They also have their eye out for further purchases where the price is right.  I like this little gem.  I can see a triple even from here if oil and gas prices stay where they are.
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