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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 Tony97on Sep 20, 2023 4:12am
323 Views
Post# 35644706

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:ITE

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:ITEGuido - 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 other points about production growth and moving from zero production, zero revenue and zero reserves to over 22,000 boepd, 184m  2Pand significant organic growth in less than 3 year can be fact check - most of what you have posted cannot. So does not support your claims of Management failure. Im sure the SP will correct over time (nothing goes up in a straight line) and another point that you might want to consider is that they now sit at a considerable discount to peers - unjustifiably so imo. The Capital raises that were used to fund the pivot to Canada were done at 8c and 18c - current SP 23c so also does not support you claim of failure particularly if you add on the dividends which i3e were about the 1st to resume in Canada.

Reference Surge Energy - I think a decent company and one of Shubham Gargs top picks - so a vote of confidence from someone that is respected in the industry and by be.

But they have a patchy record with respect to long term value creation:

https://t.co/VHpoNdfOEG

as you say - watch and learn!

cheers

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