You can now read Esperanto. There are just a few letters that are different from English, but we'll deal with these when we come to them. Let's look at the text a little more closely. Mia means my or mine . The o is the ending to show that the word is a noun - i.e. what something is called.
All nouns end in o .
Estas here means am , but it could equally mean are and is . Est means be , and as shows that it's present tense - i.e. it means now . So now read out the snippet of conversation a few times and you'll start to get the pattern - even if you're not too sure what nouns, verbs and adjectives are. Mia nomo estas Ian. The normal g is always hard, as in get .