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16:30
Taximan57 - I realise that's what you understand but it's not the complete picture, I'm afraid. I've done this this type of work since 1994. A company facing the cash difficulties 88E is currently facing can ask its shareholders for permission to restructure the company. Yes, the rules you quote are the day-to-day rules of the ASX and what companies can do with their share structure. I submit to you that 88E needs more serious surgery than you imagine. I submit they will need more radical restructuring than is permitted by the ASX rules you refer to. Any proposed restructuring will, of course, require shareholder approval but by that stage there are normally very limited options available if the company is to remain active and/or listed.
I know you don't attach any worth to my input, Taximan57. You haven't even bothered to thank me or even acknowledge the work I undertook to explain how 88E is affected by Longhorn's performance and how to calculate a boe and its revenue. So why don't you ask Brom or some of the other prolific posters if the content above is factual?
Johnwick I beleive there’s quite a large ‘naked short’ and they will soon find themselves in the precarious position of exposure to a brutal short squeeze…tick tock can’t he long now - why do you think there has been so much false fud spread here day and night? Naked shorting is illegal in UK but it still happens and I suggest its an Oz fund who’s now playing with fire here! IMHO DYOR
They’ve just been through a cost cutting exercise and have now got a strong balance sheet on top of their seismic new oil discoveries ! If you are using the past as a reason not to invest in 88E and not their future after their transfomative game changer discoveries as an investing rational, then this alone simply proves your total lack of investment knowledge. But you were happy to invest in HE1 and their past failures and past poor numbers didn’t seem to bother you. Toffers has tried it all now slung enough ‘fud’ and none of it has stuck! Bless him. IMHO DYOR
Buy... :-)
16:13
Fact check for Sharebel - there is no Aussie-based boiler room scam. Speaking personally, I am not employed by any individual or corporate entity. You'll have to ask other posters if they fit your fantasy.
88E's mkt cap has reduced sharply because the flow test results were disappointing *and* many shareholders have calculated that the company will effectively run out of money by the time it pays the bills for this winter's operations at Hickory-1. Shareholders have been confronted by the scientific data and have voted with the sell button.
There is no grand conspiracy with market makers stealing from you. There are more sellers (by volume of shares) than buyers (by volume of investment size). Plain and simple. Forum members would do well to quit the conspiracy theories and acknowledge the situation 88E finds itself in.
As John Maynard Keynes is often credited with saying: “When the facts change, I change my mind. What do you do, sir?"
The facts of the 88E investment case have changed radically. The sellers have changed their minds. What do you do, forum members?
The most shares they can release this year and after the agm is 15%. If they pass the request for a further 10% the max will be 25% without shareholders approval. If they want more dilution it will be put up at next years agm or a special gm called. Either way I'm not concerned as the company is sitting on the equivalent of a gold mine :)
And this is the worst of it, you paid the humungous salaries of Dave Wall and the rest of the Board and their experts, and even though Dave has gone, and probably got a very nice golden handshake for doing absolutely nothing, you are all still paying for their humungous salaries, perhaps more than many here who are being sucked in will ever earn in a lifetime, and this lot only do it for a few years and then take off elsewhere! They are feathering their own pockets at your expense. They've produced nothing, absolutely nothing in 8+ years, and imo, never will.
Taximan look at teh charts over the past 8 years, press the tab above, the share has always been around 1p-2p range or thereabouts and yet look at how many more shares have been issued. There's no merit to your argument at all. 25.1bn now and about to be increased no doubt. It's a travesty!
Goldwater, I'm sure you realised that it was a gross total you estimated and that you were fully aware that costs had to be deducted. No need for anyone here to tell you basics but I guess there is always one.
Finish above 22 think we are good to go am with a big leg up as gap to fill much higher. All the news has been positive weve made amazing transofrmative progress and despite manipulative MM, endless bashers -some a paid Oz boiler room crew for a short fund position but 88e fighting back - stock platforms reporting it correctly that we are in a strong and positive position on Vox markets and Pro-active as well as stock pundits marking us a BUY! What do investors want a gold edged invitation lol? IMHO DYOR
88 Energy set for further growth after a strong Q1 https://www.voxmarkets.co.uk/articles/88-energy-set-for-further-growth-after-a-strong-q1-3ce5d95
https://x.com/proactive_uk/status/1780861843700916599?s=61&t=s6qx3KTQ6lp2E1JSCCVgAA
16:07
Goldwater - you do realise that your figures take no account of the activity and costs required to actually get the oil out of the ground, treated and then transported via TAPS to market? I mean, are you being serious here? Do you expect the well not to cost a penny? Do you expect 88E will be gifted the steel pipes for free? Do you expect the drilling, fracking and production contractors to work for free? Do you expect the State of Alaska to give 88E a free pass on paying the state their share of royalties and taxes?
C'mon Goldwater, you cannot possibly believe your calculations are in any way realistic?
Exactly this Gold, For weeks, the buys have outnumbered the sells quite significantly, with the exception of yesterday where the sells was slightly more. I'm just wondering how many shares are out there, that shouldn't be. The shorters will eventually have to close, then it's boom time, especially when that news lands. Tick Tock shorters!
Scot126, your own accord . So £40 million in not worth drilling.
People are drilling oil £1 million a years. This is 40 times more.
And counting. What other aim listed company has 25.1bn shares for heavens sake, and with this awful mcap? It's criminal.
Sharebel, still waiting for you to acknowledge you told a blatant lie about the oil being commercial, which it is not, and never will be no doubt.
Taximan, the Iran situation has no bearing here, you talk twaddle.
The tag team will be pressing the eject button soon and the rest of you will be left holding as the sp sinks and you're in deficit. Same old same old. Don't say you weren't warned.
We got oil up to £40 million pound a year without pumping any gas. Which was witnessed by people from PANR . So PANR probably most likely will put in bid for it.
14:42
Goldwater - that is by some considerable margin the most ignorant post I have read on this forum. Forum members - buy/sell/hold 88E but please do not base any decisions on the "calculations" posted by Goldwater @14:42.
70 Bopd x 6=420 Bopd = 100 Dollar a barrel [70bopd was a peak rate, yoiu cannot rely on this figure for production or revenue modelling. The ambiguous, at best, data from Hickory-1 suggests a Long Term Production Test (LTPT) of each reservoir is required before you can make extrapolations like 70x6.]
42,000 Dollar a day.x 365 = 25 million Dollar a year. [Ok, your POO is inaccurate. When analysts model future wells, they normally use the forward curve. You should use $70-$80 or thereabouts but hey-ho. But let's continue with your fantastical 420bopd and your $100 POO, ok? $42k per day or $25m per year, you say? That is ridiculous, completely ignorant. Putting aside for now the capex required to build pads, drill the wells, treat the oil/gas/water, etc, etc what about the opex required to maintain the operation? What about the royalties to the State of Alaska? What about the local taxes? Jeepers creepers.]
If 12 time = 50 million Doller a year output. [same as above but larger dollop of fantasy.]
All - please ignore Goldwater's post. Made up drivel.
Will you just shut up scott with your text book length responses. Pathetic person you are. You are probably the most disliked person on the board.
More people are buying than selling . With so much oil . This will shoot up over 0.4p once joint venture is announced.
Scot, still sounding desperate, and still banding on about your poor relation barrel price. Shame on you for coming onto another company board to try and get holders to 'swap' their investment to a company that its self is struggling to find partners and investment. I didn't listen to others who said you were a deramper but today you have shown your true colours. It's bad enough that you tell 88E holders that they should be selling but to wrap it up as useful helpful advice with the only reason being to save them money, is unbelievable. Shame on you. You say you don't lie but I doubt it very much, you are definitely in this for financial gain. Nobody believes you who is a holder here and unfortunately I include myself in that category.
Flow rate was 70 Bopd which dictates to oil worth £20 million to £40 millions for horizontal drilled hole . We are not going bankrupt or anything else. Do not sell your share .
Everyone just ignore the bloke he will soon get bored ....... good luck everyone else !
Scot 🥱🥱🥱🤡🤡🤡
15:41
Victorcalin - can't come up with any intellectually-based content so let's abuse another poster. Yep, that'll do it.
How about forgetting the abuse and come up with a cogent solution for the bind 88E finds itself in?
On the other hand only one MM stuck on 0.22 since this morning - on and off, may be no stock left at the current price: a wishful 😱
15:38
Fact check for Killerpidgeon? False. I have no short position in 88E.
Now then, Killerpidgeon, do you think Burgundy will pay US$3.625m to 88E by the end of June'24? Do you agree that, on the current formal company guidance, the company will be insolvent by the end of June'24?
If you answer yes to the questions above, or even if you are concerned the above may be correct....why on earth would you buy 88E shares today? It is still overvalued v's its direct peer and it's running out of money. A steeply discounted fundraise is, IMHO, going to be required in short order.
If you don't think 88E are in immediate trouble, what's your solution? I'm all ears.