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EXCLUSIVE: Oil analyst Barney Gray discusses the latest from Tower, Coro, Colter, Reabold & United Watch Here

EXCLUSIVE: Oil analyst Barney Gray discusses the latest from Tower, Coro, Colter, Reabold & United
UPDATE: #COPL set timeline for Q2/Q3 Nigeria drilling programme


88 Energy Share Chat (88E)



Share Price: 1.01Bid: 1.00Ask: 1.02Change: -0.005 (-0.49%)Faller - 88 Energy
Spread: 0.02Spread as %: 2.00%Open: 1.015High: 1.015Low: 1.01Yesterday’s Close: 1.015


Share Discussion for 88 Energy


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happy_hatter
Posts: 2,235
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 13:28
Latest details we know from farm out were from the operations update rns released 20/12/2019. I have copied two parts of that relating to conventional farm out below below. There is a lot of news to come in this quarter if you read DW's comments about how Q1 is shaping up. We are now over half way through Q1 already so it's going to get lively, very lively, soon.

1) Project Icewine - Conventional

The level of interest and the quality of parties in the Project Icewine Conventional farm-out dataroom remains highly encouraging. 88 Energy decided to honour requests for an extension to the year-end deadline in order to maximise the number of bid ready parties, whilst also remaining within the logistical schedule required for the drilling of multiple wells in the 2020 operating season. Consequently, the Company is now targeting close of a deal in 1Q 2019.

2) Commenting on the operations update, Dave Wall, Managing Director of 88 Energy, stated: "By shifting the self-imposed year-end deadline for the Icewine conventional farm-out, we are maximising the chances of achieving the best deal possible for our shareholders and we remain highly encouraged by the level of activity and the quality of the parties active in the data room.

The first quarter of 2019 is shaping up to be an important period for the Company with results expected from ongoing analysis related to the HRZ shale, the drilling of the Winx-1 exploration well, further definition of the potential on the Yukon Leases and, of course, the Project Icewine conventional farm-out.
 
jiddy123
Posts: 7,481
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 13:14
Nothing is signed until it is signed Picardy!

Negotiations can be controlled and are secretive until the contract is signed.
SeaHawk
Posts: 963
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 13:14
Picardy If you have not signed anything you would not have to report it. There are many ways an agreement like an FO can be held for a while. It's not like striking oil where you can't put it on hold.
moneyhawk
Posts: 1,003
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 13:09
It won't really be up to DW either. To state the obvious, there will be at least one other party involved, and most likely that they will become the majority partner in the project.

The best DW could do to influence the timing of the news is to delay the final sign off on the farmout after its agreed. But would he really do that and take the risk that the offer might get withdrawn?
topsharepicks
Posts: 186
Opinion:No Opinion
Price:1.01
RE: 88e
Today 13:07
but explains even more why share price is static versus rmp
topsharepicks
Posts: 186
Opinion:No Opinion
Price:1.01
RE: 88e
Today 13:06
Average Shares
m
106.6
139
289.1
2,995
3,714
4,571
3,949

just noticed updated to 2017 so goes to show need to check actual company records my mistake
Picardy
Posts: 127
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 13:05
Surely DW wouldn’t be able to keep a FO on hold as you put it as it would be price-sensitive and, as such, would require to be released immediately rather than strategically as you infer.
topsharepicks
Posts: 186
Opinion:No Opinion
Price:1.01
RE: 88e
Today 13:05
interesting stockopedia has it wrong then!
moneyhawk
Posts: 1,003
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: 88e
Today 13:01
lol, its not often someone understates the number of shares we have!
jiddy123
Posts: 7,481
Opinion:No Opinion
Price:1.01
RE: 88e
Today 12:59
6.33B and not 4B.
jiddy123
Posts: 7,481
Opinion:No Opinion
Price:1.01
RE: 88e
Today 12:58
Nearly 4 million shares - you need to do a bit more research tsp!

The number of shares in circulation is 6.33B
topsharepicks
Posts: 186
Opinion:No Opinion
Price:1.01
88e
Today 12:55
nearly 4 billion shares so guess that explains why its stuck versus RMP which is far more lively. Interesting trades RMP watching closely for any signs of success. Oil shows could be appearing
Relaxx
Posts: 21
Opinion:No Opinion
Price:1.01
RE: Winx targets
Today 12:51
Thanks, I saw that but reading the company presentation, it was not clear to me if the 400m estimate included the secondary targets. Minor point i guess
http://clients3.weblink.com.au/pdf/88E/02070754.pdf
LeMajor
Posts: 3,580
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 12:48
Hy-Oh SilverT, I don't doubt the involvement of technology -but it will be parameter driven - and those parameters will be within the MMs remit.
LeMajor
Posts: 3,580
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 12:43
Jiddy, my guess would be that both announcements will be quite close together in order to capitalise on the momentum from the first. As the FO Ann will be easier to control I suspect it will follow the completion of flow testing - though may be before the FT results are announced.
The roller coaster will start to creep iup the slope soon and the closer it gets to the summit the faster it will get - but once over the top (reached Torok) the ride will be wild (imho).
moneyhawk
Posts: 1,003
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Winx targets
Today 12:38
The 400m estimate is for all the formations currently being targeted. See the Edison research note from 29th Jan, 60% is estimated to be in the Nanushuk:

https://www.edisoninvestmentresearch.com/oils-blog/entry/exploration-watch-2019-exploration-wells
Relaxx
Posts: 21
Opinion:No Opinion
Price:1.01
Winx targets
Today 12:25
My understanding is that the 400 MMBO is the best estimate for the Nanushuk topset play only. The other targets as highlighted in the Winx presentation are Seabee and Torok stacked targets.

Therefore the upside of this drill is potentially quite large i.e. >400 MMBO. Might take a while to interpret quantities of oil after drilling/flow testing so the true market response to this drill will likely be in the next few months and not weeks.

Best sit back, relax and not worry about share price (unless you are a trader!). I'm pretty excited with this play! This company will be completely different in Q3/Q4 of this year (for better or worse!)
SilverTrader
Posts: 214
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 12:07
'MMs are a mystery - looks to me like they're holding the price down,...'

Assuming that MM's deal with hundreds of different shares every day then I doubt any human action as they wouldn't have the resources to do that. I would suspect merely a computer program designed to alter the sp to continually attract trading (as that's is where the MM's make their revenues) - just my opinion so don't shoot me if I am wrong.
SeaHawk
Posts: 963
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 12:06
Jiddy if he has a good FO on the table he will probably want to hold it in reserve against a duster drill. If he does not have an FO perhaps he is hoping that a good drill result at Winx will enable him to say the offers were not good enough, but hey we will soon be able to do it on our own because of the success of Winx. All in my opinion course.
sprintman
Posts: 1,568
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 12:01
It's got to be around that sort of depth HH.
jiddy123
Posts: 7,481
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 11:26
The Data Room has been open since 2nd July mh, and the FO was targetted by YE 2018. The end of March will herald nine months of potential negotiations. I have absolutely NO idea whether DW wants Winx drill results before or after FO, however the silence is deafening.

The 88E SP has been becalmed since last Summer - c'mon Dave, us shareholders have been extremely patient IMHO. It is time for a rapid sequence of success stories to fire up existing and potential investors.

GLTA genuine holders.
LeMajor
Posts: 3,580
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 11:13
MMs are a mystery - looks to me like they're holding the price down, yet if as indicated, buying is outstripping selling, surely they would stimulate the market by encouraging a rise to 1.2 and clearing any remaining overhang. So much skullduggery.
moneyhawk
Posts: 1,003
Premium Chat Member
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 11:09
This is worth reading (on the wiki) to better understand what the farm out might include.

https://scholar.smu.edu/cgi/viewcontent.cgi?article=2690&context=smulr

And a bit of a hint as to why its taking time is on page 38 (numbered 795):

“In the classic farmout arrangement, the farmee earns an interest in the farmor's acreage by drilling a single well. When large tracts of land are involved, however, farmout agreements frequently require that several wells be drilled.
A multiple well farmout agreement is substantially more complicated than a single well agreement.”
LeMajor
Posts: 3,580
Opinion:No Opinion
Price:1.01
RE: Chewing the Fat
Today 11:07
Remember when looking at drilling schedule Alaska are as far behind us as we are behind Perth - so the calendar as only just flipped over for them today.
Brombarb
Posts: 19,239
Opinion:No Opinion
Price:1.01
RE: RMP
Today 11:03
Bridgedogg1 I should have said Good question.




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