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17:12
Last weeks news, 88Es existing leases in the NPRA remain technically drillable, however even if we discovered oil I suspect that costs involved with infrastructure coupled with all the environmental wrangling would make it unattractive now, in the past it was hoped that CP's Harpoon project would bring pipelines and roads closer but that looks less likely.
Currently our leases are in suspension (12M rent free) whilst we discuss with BLM the likely outcomes.
The Biden Administrations actions do not impact State Leases, so Phoenix, Leonis and Icewine West are not affected.
Https://www.cnn.com/2024/04/19/climate/alaska-drilling-ban-biden-climate/index.html
There's some news articles I've been sent over this morning regarding the Biden administration banning oil drilling in certain regions of Alaska.
Not sure if this has something to do with today's drop.
I've been invested here 7 years now.
16:13
Yeah, I'm pretty sure. Pretty, pretty, pretty sure. It was at that precise moment that Geodes stopped commenting on valuations, sticking solely to his views on the geology.
You clearly didn't read my post correctly, taximan57. Why would I "correct" an expert in geology? I stated categorically that I didn't do that even once. Repeat, not once. My suggested corrections to his posts were limited *entirely* to *facts* about the investment cases.
I've suggested repeatedly you ignore my username, olderwiser's username when reading our content. Remove your misdirected anger and read the content as if it came from a new user called "Curtain1". Quit the eternal abuse and do more research.
Is there a capital raise coming over at panr Munnie love?
Blah, blah and blah, so many words and so little said, just wanted to summarise for those in a rush :-)
05:23
taximan57 - I note you have kindly copied over a paragraph written by Geodes.
"Personally, I congratulate 88 Energy Ltd. They have made a significant discovery in the North Slope of Alaska and did so on a "shoe string Budget" and had to dilute the shareholders to do so. Now they have something to build on and attract financing or a buyer. Bottom line, they have discovered a Giant Field by the Globally accepted definition'."
Yes, PANR and 88E have indeed discovered a massive hydrocarbon accumulation in the Alaska North Slope, immediately adjacent to existing infrastructure (TAPS and Dalton Highway). The trouble is that the characteristics of these shared stacked reservoirs *vary considerably* depending on the location. Most especially, the depth of burial, the effects of Dmax calculations, lead to a pronounced effect on the producibility of the southern and southeastern parts of the acreage. Of course the measure of *producibility* has a huge bearing on the *commerciality* of the varied locations.
To all forum members. Please understand that 88E hasn't necessarily done anything wrong. They haven't drilled Hickory-1 badly. I have no reason to believe the flow tests weren't carried out professionally. Nope, all this data was decided millions of years ago. The data was collected and brought to the surface only a few days ago. When these formations were formed, the reservoirs had no idea lines would be drawn on a map in the 20th and 21st centuries which would have such decisive implications for a bunch of stockmarket investors and traders!
Could/should 88E have invested in 3D seismic earlier in the life of the project? Might 3D seismic have led them to make different decisions about where to apply 88E's capital? Maybe yes, maybe no. I urge forum members to listen to PANR's CEO in a recent Proactive interview, see link below.
https://www.youtube.com/watch?v=Dts7k5oMR8k&t=144s
Have a listen between 2mins and 3mins 30seconds. For many years now, PANR has modelled the reservoirs' characteristics improving the further north and northwest the location. These stacked reservoirs in the northern and northwestern areas are also *shallower* than in the southern and southeastern areas. Imagine a stack of 5 dinner plates being tilted...the lower part of the stacked plates is 88E's acreage, the higher part of the stacked plates is PANR's acreage.
PANR clearly feared the negative effects of Dmax on the producibility of the reservoirs in the southern areas. So much so that PANR *has not included* in their own guidance of recoverable barrels the hydrocarbons assessed to be present from their Talitha #A location southwards to the boundary with 88E.
This strongly suggests to me that PANR's technical team will not have been overly surprised by the data collected during the two flow tests at Hickory-1. Is it making more sense now?
Neversatisfied @15:08 “could even end the day blue”
😂😂😂 we’ll never be satisfied listening to your investment advice.
I no longer understand this share (face palm )
Hillbilly in order to make a profit to sell at 41 when it rose to over 44 less than a few weeks ago you would have had to have the faith to buy in lower pre results. Well that’s what we are all doing now buying and topping up except we have now had release of excellent results on 2 x discoveries and more to come than when you say you bought. Your view makes therefore zero sense! All you have demonstrated is the potential bags from this low level for new entrants and holders lowering their averages before the ship sails North again! IMHO DYOR
What fantastic news exactly sharebel, must have missed that one, i used to top top up my old vauxhall viva with more oil every month than this company is getting out of the ground
Scot, are you sure Geodes blocked you because he was fed up of you pointing out his errors, or is it more likely that he got fed up with your sanctimonious I cant do anything wrong holier than thou attitude? Similar to the majority on board here?
Seriously you are telling us you correct on many an occasion an expert in the field and he blocked you for that reason?
Blah, blah and blah, so many words and so little said, no change there :-)
00:59
Hi Rpj8438 - I note your link to Geodes' reddit thread. I thought a bit of background would be useful.
Geodes has more knowledge about geology in his little finger than I could hope to learn in a lifetime. However, he self-admittedly no longer strays into commentary on valuations, including comparative valuations of PANR and 88E. He and I used to communicate. I enjoyed reading his geological commentary very much indeed. Sadly he made *many factual errors* about the investment cases of PANR and 88E.
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. I *never* questioned his geological commentary, solely his errors about the investment cases. Thereafter he ceased to comment on the financial implications for each company and limited his commentary to geological matters.
*My* opinion. Geodes has stated he is hugely under water on 88E. It happens. IMHO his commentary is, understandably, tainted by his desire to dig himself out of his 88E financial hole. Why not ask Geodes the following question: "Knowing what he knows now about the datasets from each company, which of 88E and PANR would he invest in today if only allowed one stock?’ Also, ask him for a data-supported justification for a downdip, lower classification 88E Phoenix recoverable barrel in the ground to be valued at a premium to an updip, higher classification PANR recoverable barrel in the ground?
in his latest reddit post I *think* I understand the point he is trying to make. In summary, publication of incomplete data leads to incomplete conclusions. Broadly, I acknowledge the point. *However* and specifically in the case of these two flow tests at Hickory-1, there are pertinent and fully applicable comparisons to 88E's data. I am referring to PANR's published data collected at Alkaid-1, Alkaid-2, Talitha #A and Theta West-1.
Put aside for a moment the actual results, look at the greater degree of data shared by PANR and compare it to the meagre data presented by 88E, thus far anyway. So, yes, Geodes urges folk to wait for further data and/or explanations on the "4 stk barrels in the tank" conundrum. But he, himself, was *not* able to come up with any irrefutable explanation for that precise piece of data.
Occam's razor requires that the simplest of competing theories be preferred to the more complex; or that explanations of unknown phenomena be sought first in terms of known quantities. It's not contentious, IMO, to suggest 88E's history shows a propensity to be promotional wherever possible. If there was positive data to be shared with the market, 88E would have done so. There were no corrections in the next three RNSs. Think about it.
Occam's razor is the problem-solving principle that recommends searching for explanations constructed with the smallest possible set of elements.
MM playing bait and switch all day - we opened at 22 with 23 paid and all we’ve had is manipulation moves all day! All noted and logged. So absolutely no reason for the ridiculous drop! Shorts margin call no doubt after our fantastic news and MM lowering the rope along with a targeted boiler room crew for an Oz fund who went on the attack on their behalf. Play the players trying to play us for mugs and buy and hold! IMHO DYOR
I DID and got before more pathetic news. .29 and 0.41 out.. Glad i made a bit out of this Alaskan dog.
This isn't the bottom... Placing need to happen... Lots of dilution to raise a worthwhile amount of money at this sp... It just gets worse.
88 Energy (88E) 1,400 Posts over last 7 days number one chat site .
GCM was second this morning with about 830.
Also 19/4/24.. 9.21am ( all the derampers thread no answer to who owns the site )
There's money to be made elsewhere and you're trying to trap people in to this Sharebel, it's not right, people need to look closely at the full history here. If you're trapped in at a higher sp, it's your own fault that you didn't get out.
They will have run out of funds in just over a months time. Sharebel must be an alias of Mac4671 aka Aberdeenman, who has been deployed to get the sp up by the company, after all, the company used Mac and his cohorts in the first place to do this 8 years ago. 25.1bn shares in circulation, a likely placing coming soon, which will end up with more shares flooded on to the market and more shareholder dilution. It's kaput, it will never have the money to be able to pursue further dud wells, it's taken 8 years already for them to all but finally wave the white flag on Alaska alone! You going to wait another 8 years for more nothing, if they keep fund raising, after fund raising yet again?
I'm willing the price up.
But has this not been oversold for the past week since the initial RNS?
Good god yes you can buy now with a live quote some amount at 20.30 then NT for larger! It changes obviously!There’s no stock available because nobody is stupid enough to be selling and mugged down here and buy side is heavy demand! IMHO DYOR
Well oversold, coming back strong now, could even end the day blue. Big turnaround on its way imho!
You can on on IG at 0.2 so ur full of shieete