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It could also be the reservoir analysis we have been waiting on.
06:11
Look at page 2, taximan57. Right there in black and white.
'The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing
an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the
commencement of normal trading on Friday, 26 April 2024 or when the announcement is released to the market'.
So potentially good news, a partner found for Leonis or Phoenix? No mention of CR or discount or consolidation. As usual the derampers push a negative slant.
Could be they have found a partner, I don't see any mention of dilution or consolidation.
It's going to need a big discount to the ASX VWAP of around .0045, probably 33% to attract some punters, as they will be gun shy after the last few cap raises that finished here, with losses for most, and the serious threat of a SP dropping consolidation in play
That would be a nice round number of .003 AU (.16gbx)
The answer should be on the LSE tonight, normally no trading halts on the AIM markets
Well, there we have it.
So then.... how much will they try for? $15-25m??
So then... at what price? 30-50% discount to closing?? Cant see any higher, personally.
As stated numerous times, this was always coming. But no one listened.
Dilution dilution dilution
Consolidation consolidation consolidation.
40-50 BILLION shares soon?
'Fully funded'. Mmmm hmmmm. Lol.
**BUY PANR BEFORE THEIR NEXT APHUN UPDATE COMES OUT TO MAKE BACK YOUR 88e LOSSES???**
CR incoming. Good lets get it out the way and move on. Explains the price action of late. Hopefully been forward placed and not at a discount to today's price.
For someone (you) who owns Panr stock, Scot you really are a plonker. 88e is a neighbour and you should wish them well and just keep your nose out as you have no financial interest in the company. Idiotic at best, suicidal at worst. But then again you won’t see anything out of the window other than what you like to see.
OMG 0.0019p what an absolute donkey come back Duster Dave all is forgiven
21:52
Hi olderwiser - lazy journalism or cynical PR placement? Who knows?
What is beyond outrageous is that 88E has tweeted out the Vox, Next investors and Frontiersman articles, thereby granting the articles an entirely undeserved credibility.
Shareholders should be disappointed in management's conduct. 88E's UK NOMAD should be concerned.
As I've posted previously, buy/sell/hold 88E but please do not rely on the accuracy of these articles when making any decisions.
Older,
Remember MysticMeg and his predictions? The same predictions that Stas and Brom and the rest cheered on with zeal? Here it is, just for prosperity -
"MysticMacOffcl
Pennyland
Today 13:31 6th April
I'm gonna laugh so hard when this goes above a penny (or 2) this month. Especially knowing Older and Scott spent years trying to tell us otherwise..."
I said to be careful as clearly the rns was as plain as day stating 4 barrels per day, and that in fact by end of April the SP would be 0.2 or lower, and by end of May 0.1p or lower.
Well... 0.185p today. Way ahead of schedule. Speaks for itself.
Next stop 0.15p likely this week.
Everyone was warned by Older and Scot and others *repeatedly*, but as usual no one listened.
Will do
It would be confusing if one believed the multiple ID rubbish, but there is only one
If you are interested in reading the article, they can usually be found with a google search
I've read a few locations, but just to let you know that link doesn't work in the EU.
Has there ever been a doubt
Is that a hint to your location Older?
Https://www.frontiersman.com/news/australian-company-reports-more-encouragement-in-north-slope-test-well-results/article_cd87e8a2-fb9c-11ee-ad18-3b7c74a9d176.html
What an appalling misrepresentation of the facts this is, no mention of the 50 and 70 being peaks in an unstable flow
A reader would be entirely convinced these were actual production, not blips on a chart
Disgraceful
"An Australia-based independent oil explorer, 88 Energy, reported additional encouraging results from an exploration well drilled last winter south of Prudhoe Bay. In a second “flow test,” the well produced 50 barrels per day of high quality crude oil measured at 39 degrees API gravity from the “SMD-B” reservoir, one of two oil-bearing sections being tested.
88 Energy’s new results were announced April 14.
Another reservoir section tested, “Upper SFS, flowed 70 barrels per day of high quality oil measured at 40 degrees API gravity, 88 Energy announced April 2."
Yes they have a very long and expensive road ahead of them
I see Geodes has attracted a fan base with his rosy view, this part I agree on, was hoping people would twig to it without a prompt, as I have been saying for some time, the tests were cut short, and it matters
The Initial Production Rate: What It Is, How It Works
The IP, or the initial rate of production has not be determined on the Hickory-1 well for the USFS nor the SMD-B.
Nice to hear from you again Older.
I was thinking in simplistic terms that if you can produce something then it is already commercial, you just have to find a buyer. That said I now see that an early production service (eps) is what 88E are striving for not what they have. I thought I read somewhere that they were producing because they had oil to surface but that is just a phase leading to eps.
Poor wee lamb ;)
Taxi
At this stage it is surprising to see you missing the point about producing and selling
I have a modest hobby farm and produce lambs, when I produce a small runty mis mothered lamb, it costs the same to produce, and it gets sold, but I lose money
'Successful Hickory-1 flow test confirms discovery and producibility of light oil, NGLs and gas from multiple reservoirs'
If you can produce something surely you can sell it?
On another topic;
Umiat with 94mmboe flows at 200bopd, I take it that is from a vertical well?
Icewine West is stated to have a prospective resource of 1.1B mmo net.
Project Leonis: Targeted farm-out commenced with multiple parties engaged in data room review.
My guess is the multiple parties engaged regarding Leonis are also looking at Phoenix, a ready made audience.
10:27
gemstar - I do not know if Geodes currently hold 88E or PANR shares. What I am clear about is that he has posted on socal media that he initially invested in 88E. Subsequent to his investment in 88E he posted he was unaware of PANR's existence when making that initial investment. He also posted that he has invested in PANR shares.
For your statement about Geodes not owning 88E or PANR shares to be accurate then he must have divested entirely from both investments. Can you please provide a source for that contention?
All that said, I think we can all agree Geodes is certainly not to be considered independent.
Happy to stipulate I don't have a crystal ball.
11:33
Brom posted the following:
"In my opinion it would not have mattered what results were achieved at Hickory-1, we would still have had that same posters on here either ex "investors" who lost money and are bitter and twisted, those who are just bitter and twisted and those apparently terrified that 88E may actually gain some traction, its a shame but a fact of life on anonymous boards. I see very little altruism rather self interest."
Brom - you must mean the "self interest" of someone who has published a mere 27k posts on this forum? Is it *that* self interest to which you refer? What about the self interest which saw admissions being made a number of months *after* the event that LTHs had taken advantage of the US OTC social media-inspired spike and traded out of most or all of the position? *That* self interest?
Absolute nonsense that good data from the flow tests would have been greeted with universal negativity, no matter what. Absolute bunkum. When are you going to admit to the forum that there exists a cohort of honest fundamental investors and analysts whom are interested *solely* in the data, the facts, the truth? And if the flow test results were good then that would have had a massively positive readacross to the entire shared asset base?
Jeepers, Brom. Know thyself.
Someone who struggles so much with the truth would stuggle with being blocked and make up some malarkey as to why it happened, when he is not blah, blah, blahring of course :-)
'Initially Geodes was happy enough to correct his *factual* errors when politely pointed out. However, over time he bristled at the *factual* corrections and then blocked me', if that is not correcting him then what is? I will give you this Scot, you can definitely manipulate words to suit any situation. Clearly you corrected him and he took affront and binned you,