I3 Energy (I3E) has seen its share price recover a bit following some production issues, but I still think it has further to go as long as gas and oil prices remain in the recent price range that we’ve seen.
I3 Energy (I3E) has enjoyed a miraculous turnaround in fortunes over the past couple of years, thanks to buying new assets at the right time and benefitting from high oil and gas prices since then.
i3 Energy (I3E) has announced delivery on a farm-in by Europa Oil & Gas (EOG) to the New Serenity Block and it to “now commence the detailed planning and permitting process for the Serenity appraisal well, which we now expect to spud in late Q3”.
i3 Energy (I3E) has announced that production from Canada is exceeding expectations, and it looks forward to updating the market with results from its active drilling program.
I3 Energy (I3E) has been a great example of why past failure doesn’t necessarily point to a continuation of that in the future – in the same way that past success doesn’t mean that a company or management team will manage the same again.
The level of trust that you have in the management of a company can often play a big part in your willingness to invest.
I had been wondering when further news would come from i3 Energy (I3E) and these week two significant RNSs dropped on the same morning, which ultimately led to shares being suspended for the foreseeable future.
As usual the bulletin boards seem to be flooded with people saying what a great deal I3 Energy (I3E) has just secured, having announced today that it had acquired Toscana Energy Income Corporation (TEIC).
I see I3Energy (I3E) heading towards the top of the daily AIM leader board, with its shares up some 35% at 8.1p when I last checked. Now why would that be? A funding deal or just the power of social media based ramping? I think the later for good reason.
I3 Energy (I3E) was one of the most popular oil shares on AIM last summer and autumn, but the situation is very different now after a number of failures operationally.
These days on the markets there seems to be a willingness by some private investors to just believe any story that is being spun, rather than making any attempt to actually check the facts themselves.
So there we go, I3 Energy (I3E) has confirmed the A2 Well on the Liberator field has likely found oil, but not a fat lot from what I can see. I have been warning about the risks on Liberator drilling and the consequences of not finding oil with the drill bit for some time, most recently HERE. Looks like those risks have crystallised...
I3 Energy (I3E) is a company which I had high hopes for and have continued to keep the faith with despite being far from happy with the way that the board of directors has handled things during the current drilling campaign. Having screwed up the first Liberator pilot well, which was supposed to have determined the location for a first production well next year on its North Sea licence, and then operationally redeemed itself to some extent by striking oil during an appraisal of its nearby Serenity licence area, and proving that to be an extension of the adjacent Tain field, all eyes have been on the second Liberator pilot drill...







