i3 Energy (i3E)

[Proselenes]

With reference to the Clearwater play.........very much i3E and I have brought this to the attention of the author that I3E (London) / ITE (Canada) is very much involved with the Clearwater play.


https://seekingalpha.com/article/452738 ... ot-permian

The Unconventional Oil Play You Definitely Don't Want To Miss Out: No, It Is Not Permian

Jul. 29, 2022

Summary

Shallow reservoirs. Multilateral wells. Open-hole and unstimulated completion. Cold flow. All these make Clearwater the most economical among North American resource plays.

It's still the early days in exploring and developing this heavy oil trend so investors should consider investing it for the enormous growth potential.

In this article, I discuss what the Clearwater play actually is, review the competitive landscape therein, and analyze how to maintain an advantageous exposure to it...........................

[Proselenes]

https://www.thetimes.co.uk/article/nort ... -qxdz0973g

North Sea oil duo move serenely onwards with partnership deal

Drilling on a North Sea oil and gas project is set to start shortly after a partnership deal was completed.

Europa Oil & Gas is taking a 25 per cent share of the Serenity prospect from i3 Energy. In return, Europa is paying for 46.25 per cent of the cost of the appraisal well, assuming that the cost does not top £15 million. Anything beyond that would be shared, based on the respective stakes held by the companies.

The drilling on Serenity is scheduled to begin next month and should give a greater understanding of the resources available in the area. Oil was discovered there in 2019 and it was estimated that up to 197 million barrels could be in place.

It is thought that.......................

[Proselenes]

Monthly Dividend news - September 2022 divi


https://www.investegate.co.uk/i3-energy ... 00076688U/

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

Monthly Dividend

i3 announces its monthly dividend totalling £1.6996 million and confirms the following:

Dividend: 0.1425 pence/share

Ex-Dividend Date: 11 Aug 2022

Record Date: 12 Aug 2022

Payment date: 2 Sep 2022

Payment to shareholders holding their shares on the TSX will be made in Canadian dollars using the exchange rate from the Bank of England at close on the Dividend announcement date, 3 Aug 2022.

[Proselenes]

Traders view of the i3E price in the IC. He is not an investor in this article, so things like the superb prospects of the Clearwater etc.. do not interest him, he is looking at the chart only and ignoring the company maker potential Serenity drill as well.

He is looking to buy in at 32p levels, waiting for a breakout though 31p.

So, we can hopefully expect a lot of buying to flood in, once the price breaks 32p, for me, I think we will see 45p in late September.


https://www.investorschronicle.co.uk/id ... portunity/


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[Proselenes]

Taken from Baytex August 2022 presentation, look at the Clearwater wells payout at 85$ WTI price........

4 months. With IRR over 500%. And I3E have lots of lovely Clearwater play to drill and develop. Its one of the worlds currently most profitable oil plays, given the extreme low cost of drilling (no casing needed and no fraccing) and good flow rates.

People I beleive really are not wide awake to what I3E has.

Link to presentation : https://www.baytexenergy.com/files/pdf/ ... tation.pdf

[Proselenes]

If anyone wants some bedtime reading, this is the July 2020 TRACS report done for i3E on NS/Liberator.

https://cdn-ceo-ca.s3.amazonaws.com/1g8 ... ACS%29.pdf

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[Proselenes]

Ultimately, for me, the previous good result at Serenity was diminished by poor drilling results at Liberator, and we are where are today, where Serenity is in fact not really included in the I3E share price.

The current price is more than covered by the Canadian assets, production, cash flow and dividends being paid out monthly.

Serenity, imo, is already proven to be commercial on a stand alone basis and what we are looking at ahead is appraisal wells that will confirm, or not, that Serenity is much bigger than currently proven. Success at the coming appraisal well should see a very real step change in the i3E share price, as Serenity goes from the current "no value attributed" to become "of value" in the share price.

Rig update for Serenity appraisal well should be coming in a week or so, mobilised, then spud in early September all being well.

[Proselenes]

So, lets estimate again the coming RNS

Week commencing Monday 15th August - Operational and Financial Update
Rig mobilisation news and Q2 results.

Week commencing Monday 5th September - October dividend announcement
0.1425p a share again.

Week commencing 12th or 19th September - Serenity Appraisal well spud

Week commencing 26th September - Interims
Half year report and potential Special Dividend news.

Week commencing 10th or 17th October - Serenity appraisal well results due.

[Proselenes]

12 Aug 2022 Video interview with EOG CEO

Europa are delighted to link with I3E and look forward to early September Serenity appraisal spud

https://www.youtube.com/watch?v=-1MnyRcP7Rg


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[Proselenes]

Ref to the I3E/EOG Serenity well........

Europa Oil and Gas heralds 'transformational' spud of of Serenity well

Europa Oil and Gas's CEO, Simon Oddie, gave Proactive London details of 'exciting times' ahead with the start of drilling at its first offshore North Sea well: Serenity. Spudding of the well is scheduled in September with results expected fairly shortly afterwards, said Oddie. It is one of the company's 'two pistons of growth', he says, alongside the UK onshore well Wressle where there is also big potential for Europa and its partners to boost production.

https://www.youtube.com/watch?v=Yf4VPxxz0Z4

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[Proselenes]

If Canada LNG gets the go ahead......then Canadian natural gas prices would be solidly higher all the time......


https://www.reuters.com/world/ukraines- ... 022-08-20/

Ukraine's Naftogaz backs Scholz's bid for Canadian LNG ahead of trip

August 21, 2022

BERLIN, Aug 20 (Reuters) - Shortly before his two-day trip to Canada, German Chancellor Olaf Scholz received support for his interest in Canadian liquid natural gas to help replace Russian gas imports from an unexpected ally: Ukrainian state-owned gas company Naftogaz.

Kyiv has been at loggerheads with Berlin over its gas imports policy: firstly over its deal with Moscow to build the Nord Stream 2 pipeline and more recently over its deal with Canada to get a repaired turbine for the Nord Stream 1 delivered back to Germany.

But the prospect of LNG deliveries to Europe from Canada, one of the world's top gas producers, is something that not only Naftogaz supports, it's something it has also been quietly working on itself.

Naftogaz earlier this year signed a little-reported memorandum of understanding with Canadian energy developer Symbio Infrastructure to purchase LNG from Canada. Meanwhile Canada and Germany have been discussing building LNG terminals on the Canadian Atlantic coast.

Naftogaz’s CEO Yuriy Vitrenko told Reuters in an emailed statement that Canadian gas,,,,,,,,,,,,,,,,,,,,,,,,,

[Proselenes]

This of course refers to the East Coast (Atlantic) LNG. The West Coast LNG is under process and will be ready for use in 2025.

[Proselenes]

I3E presenting in London on the 8th of September.

https://www.proactiveinvestors.co.uk/register/event_details/407

This means we should have an operations update and new presentation released before the event or on the day.

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[Proselenes]

Q2 Results are out.

https://www.londonstockexchange.com/new ... e/15601896

Highlights:

· Strong Q2 2022 average production of approximately 19,502 barrels of oil equivalent per day ("boepd"), representing a 116% increase over Q1 2021 and an 8% increase over Q1 2022, despite delays to drilling caused by expected seasonal wet weather conditions and maintenance shutdowns at third party facilities

· Average field sales estimates exited July above 20,000 boepd with current field estimates of approximately 20,500 boepd.

· Assuming the full implementation of the Company's previously announced Enlarged Capital Budget (as announced on 9 May 2022), full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) is now forecast to be approximately USD 200(1) million (based on current strip), versus previous guidance of USD 241 million, predominantly due to volatile near-term commodity pricing

· Ongoing multi-well pad development of i3's core Glauconite, Cardium and Clearwater holdings and the strategic delineation of the Company's high-impact Simonette Montney position

· Drilled 7 wells (5 operated and 2 non-operated) with production testing underway

· Completed a 25% working interest farmout of the Serenity discovery to Europa Oil and Gas ("Europa") with Europa funding 46.25% of the cost of the upcoming appraisal well, up to a gross capped well cost of £15 million. Preparations remain on track for a mid-September spud

· Inaugural annual sustainability report published outlining the Company's ESG initiatives and plans to reduce GHG emissions

· Increased minimum annual dividend to be paid in 2022 by 25% to £14.784 million (current monthly distribution of 0.1425 pence/share) on strong operational and financial performance and paid out £5.153 million in H1 2022

· Full year 2022 Enlarged Capital Budget as outlined on 9 May 2022 remains unchanged at USD 97 million, and i3 remains on track to deliver peak 2022 production above 24,000 boepd

[Proselenes]

Serenity to commence operations around 10th September

https://kingfisherbulletin.org/notice-map?noticeId=2625'

[Proselenes]

https://www.telegraph.co.uk/investing/s ... l-company/

........In doing so, we maintain our exposure to oil through this giant company as well as via the up-and-coming producer i3 Energy and the oil equipment and services play Hunting, covered here a week ago...............

[Proselenes]

7 September 2022

i3 Energy plc

("i3" or the "Company")

October 2022 Dividend Declaration

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

Monthly Dividend

i3 announces its monthly dividend totalling GBP1.6996 million and confirms the following:

Dividend: 0.1425 pence/share
Ex-Dividend Date: 15 Sept 2022
Record Date: 16 Sept 2022
Payment date: 7 Oct 2022

Payment to shareholders holding their shares on the TSX will be made in Canadian dollars using the exchange rate from the Bank of England at close on the Dividend announcement date, 7 September 2022.

[Proselenes]

Interesting news today from EOG. They have got a 1m debt facility lined up "IN CASE OF SIDE TRACK AT SERENITY". Looking for even more oil with this appraisal then.

This is from their RNS this morning.

https://www.londonstockexchange.com/new ... d/15621586


.....Simon Oddie, CEO of Europa, said:

"We are pleased to have secured this source of debt financing from UJO, which is one of our joint venture partners at Wressle. The loan will provide us with additional liquidity and reflects the prudent cash management philosophy that we adopt at Europa when looking at the various development settings that we could face in the near term. One of these scenarios includes a success case side-track that may be drilled in the upcoming Serenity appraisal well. The side-track could prove up further volumes in addition to those proven by the main wellbore and these additional funds will ensure that we have sufficient working capital to progress all of our assets under the potential growth scenarios that we are modelling."

[Proselenes]

https://www.investorschronicle.co.uk/ne ... im-market/

......The exceptionally good performer among the 13 is i3 Energy (I3E), which combines oil and gas production in Canada with appraisal wells in the UK’s North Sea whose attractions have swelled enormously this year. Thus i3 is in the happy position of generating enough cash both to distribute generously to shareholders – dividends have been paid monthly since March – and to fund its capital spending. Management is committed to distributing 1.05p per share for 2022, though City analysts reckon that amount will be exceeded and the prospective 4.7 per cent yield shown in the table is based on a 1.2p pay-out..........

[Proselenes]

I3E presentation video from the 8th September.

https://www.youtube.com/watch?v=dSY4Op11APM

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