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EXCLUSIVE: Petro Metad go for broke with 6-well fully funded programme
EXCLUSIVE: Rockhopper #RKE tops Malcy's 2018 Interims Bucket List gain


88 Energy Share Chat (88E)



Share Price: 1.175Bid: 1.05Ask: 1.30Change: -0.05 (-4.08%)Faller - 88 Energy
Spread: 0.25Spread as %: 23.81%Open: 1.225High: 0.00Low: 0.00Yesterday’s Close: 1.225


Share Discussion for 88 Energy


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Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
ASX- Chi-X
Today 08:00
3.3M or 0.06% of all shares traded.

2.2c = ~ 1.23p
2.3c = ~ 1.29p

Mkt cap $127.8M

ASX(close)
2.2¢ 4.35%
Volume3.114M

Sellers (Offers)
Price($) Volume No.
2.3¢

4640756

15

Chi-X (close)
2.3¢ 0.00%
Volume171K
 
mikemike
Posts: 6,794
Opinion:No Opinion
Price:1.175
Heresey
Today 07:46
Should Dw not get the farm out he would like.

I would have no problem with a significant consolidation plus placement. In the event of not getting a Farm out that is accretive I cannot see the SP being supported by issuing more confetti.

I already got the stake in place plus oil soaked bushels for the flame party, match anyone?
sprintman
Posts: 1,330
Opinion:Strong Buy
Price:1.225
Morning all
Today 07:30
An hour ago ASX was in the green , it's just dropped slightly into the red. Here's to a good week here, I'm expecting some news by month end so about 2 weeks of drifting a bit
mikemike
Posts: 6,794
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sun 23:33
Bromb

If we do spend on permits for additional leases then that will give me confidence that a financial solution is not far away. We need one as circa $5m in the bank will not get us a retained farm out position that is accretive. Even with full value from the SOA rebates and reduced cash flow for loan repayments no longer due, this is not I believe the the strongest cash position.

Anyway, Dw will tell us more, soon.
Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
RE: Plan foward
Sun 20:39
Blingy look forward to the next meet in London or where ever.
Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
RE: Plan foward
Sun 19:41
I am fairly relaxed at the moment, news will come when it comes, the fact that interim 3D has not been plucked from the hat to give the SP and shareholders a quick fillip suggests to me that some worthwhile negotiations are going on, anyway as a glass half full person that is what I would like to think.
Shareboggan definitely does not speak for me and I am sure we have a lot of shareholders (note the distinction) who have been here a long time, trust the BOD will be doing their best and are prepared to wait a while yet.
Best of luck everyone we deserve it :-)
Blingybird
Posts: 259
Opinion:Strong Buy
Price:1.225
Plan foward
Sun 18:58
Thanks for all posts recently and positivity since so decline and icewine 2 result
As stated I am looking forward now to a full plan put forward by dave wall and a way forward
I am heavily invested here now and pondering whether to load up whilst low or just sit tight
I do see as a positive the times dave has raised monies over the years so easily from sources
And also the fact he has refused an offer in the past to buy the company
I'm not an oil expert but an investor and so don't totally understand some of the chat put forward by more knowledgable posters and also realise on aim especially a share.can be in or out of favour on a flip of a coin
So will sit tight and trust the leadership and hope for a meet in London usually in September and meet with all others for a chat and drink
HardToHandle
Posts: 1,933
Opinion:No Opinion
Price:1.225
RE: Strategy
Sun 18:37
HardToHandle
Posts: 1,933
Opinion:No Opinion
Price:1.225
RE: Strategy
Sun 18:34
Looks like the Sheila's are getting anxious as well !
https://hotcopper.com.au/asx/88e/
HardToHandle
Posts: 1,933
Opinion:No Opinion
Price:1.225
Strategy
Sun 17:41
Could do with giving us a plan big D !
Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sun 16:46
I would love to know what Little Red Services where about, was it purely preparation for well suspension or if there was more.
"Joint venture partners are “in the process of engaging with an experienced service provider to provide state of the art analysis and quality control of the existing dataset, undertake additional work and put together an appropriate forward work program to "

unfortunately we do not know what we do not know.
Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sun 16:38
mikemike between now and winter 2019 there is time to permit, might already have commenced now leases are ours, not saying we will but nothing to stop us permitting this year for 2019 or 2020.
Brombarb
Posts: 16,884
Opinion:No Opinion
Price:1.225
article today
Sun 16:33
in Sunday Telegraph
https://www.telegraph.co.uk/business/2018/07/14/aims-wild-west-days-have-ridden-sunset/

bit rose tinted specs but worth a trial subscription if you have not already read.
mikemike
Posts: 6,794
Opinion:No Opinion
Price:1.225
poo
Sun 03:29
Reaper007
Posts: 546
Opinion:Strong Buy
Price:1.225
RE: Dave Q&A jan 2017
Sun 00:01
Whilst we have a lull, pleased to report fantastic, high quality posts here. See what can be done when there is room to breath :-) VGLA
Whatnonewsyet
Posts: 456
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 21:56
LeMajor, thanks for that, we are on the same page. The conventional should more than pay for the next attempt on Everest! Just need to get the deal done on conventional, drilling success here and HRZ experiments can be completed unimpeded.

Have good weekend.
LeMajor
Posts: 3,179
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 21:01
I should have added that the main area of 88e's and BEX's leases are right over the HRZ "hot spots". The conventional prospects within our leases are incidental (icing on the cake). There is no doubt in my mind that the HRZ is the main chance, nor is there doubt that the conventional deposits will be easier to prove and exploit.
The main concern with farming in or out is having to give away the baby (HRZ) with the bath water (conv) - I think these other conventional opportunities with Horseshoe and Yukon Gold, gives DW the option to trade away from the HRZ lease area. and potentially give us funding without the dilutionary effect (direct or indirect).
LeMajor
Posts: 3,179
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 20:44
You misunderstand - the HRZ is the primary project because it is many times bigger than the conventional in its potential.
The plan is to keep trying to achieve a commercial flow rate, and then repeat it many times over with more wells.
We do not know what flow rate we can achieve at the FB location, and requires experimentation at this and/or other locations, using various techniques and tools until we can prove a good flow rate.
We have no idea when the flow rate (80-100 bbl/day) will be achieved - we all (inc DW) hope it will be "next time" but all we can do is keep experimenting and trying to understand the geology, the physics and the chemistry until the penny drops (finding the code).
We cannot plan a flow rate, we can only plan the extraction using some specific techniques. Having done that we can only measure the flow rate and decide whether it is good enough to be commercial - if not, we have to come up with new techniques and then plan another drilling/fracture/extraction and hope it will give us an improved flow rate next time, else rinse and repeat until it does.
Some PI's on this list have too simplistic a view and think oil exploration is a simple as a Mary Berry victoria sponge - but if she started off with 3 crocodile eggs, four pints of camel milk, a tub of pork dripping, rice flour and a bee hive, she might be able to produce something close to a victoria sponge, but would have to re-think the recipe a few times - tasting and adjusting her techniques as she goes.
As PB said, we do not fail, we simply prove that some options do not work as well as others yet to be tried (I paraphrased).
Whatnonewsyet
Posts: 456
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 19:38
LeMajor, why would we give up the HRZ? Remember Basinski and his ambition. The key now is how to keep 88e viable without giving away too big a slice. Too many variables at present and it is true we have not heard all the technical details behind IW2. DW probably pushing multiple options to preserve share value. We could end up with two conventional drills over winter! Look forward to the 3D results. A success here with the conventional with BB a horizontal completed into the HRZ could make 2019 a very good year. Long haul!
Dogstain
Posts: 275
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 19:22
I can’t see anything in that video that contradicts what I’ve said. DW telling us the “PLAN” not his “Hopes”. Yes he dose mention a farm out to fund the drill if flow tests are poor. And this is my point if results were good he had choices and a bigger bargaining chip. I hope we have gathered enough data to strike a good deal
rossowheels
Posts: 1,270
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 18:14
Dogstain: review this from the bearded one in June 2017 https://youtu.be/2c4ERqMm7qc
Dogstain
Posts: 275
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 14:54
Plan/Hope Word it how you like. The result has dictated our next move
LeMajor
Posts: 3,179
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 14:46
"Make no mistake the plan was for it to flow" - that's a hope, not a plan.
It's like saying, we've decided to have kids, the plan is twin girls !
Science ain't like that, it is about discovery not manufacture.
As for the HRZ being the primary target - of course it is. Once we have discovered how to get the oil to come out of the shale, we should have about 4 times more oil than what we believe to be conventional prospects. In round numbers that's 2Bn barrels conventional vs 8Bn barrels shale oil. Meanwhile, we pursue both.
mikemike
Posts: 6,794
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 13:38
''what more will either party know between now and then that would be material to the deal?''

A solution

Based upon emerging science and new engineering techniques. The Oil is there, getting out in line with vapour phase theory appears to be the challenge.

I suspect the forward guidance we will get for Q2/H1 will point us in this direction.
SaintAnthony
Posts: 34
Opinion:No Opinion
Price:1.225
RE: Dave Q&A jan 2017
Sat 13:19
Interesting to hear everyone's options, thanks. I'm not sure there's a consensus apart from the need to wait and see on the next announcement. I think I'm still left with the feeling that, until told otherwise (officially), HRZ remains DW's primary objective. If the early discussions on a farm in were way back in January 2017 as implied by the Q&A transcript, it wouldn't surprise me if the (re)closure of IW2 was designed to allow a degree of stability on the finalisation of farm in negotiations rather than have the (remote?) possibility of some further good news from IW2 hanging over the deal being completed. If IW2 is locked away until 2019, what more will either party know between now and then that would be material to the deal?

GLA




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