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Scot firstly the last paragraph as nothing to do with me. Secondly I have never mentioned your mental health, in fact I already stated that earlier which you ignored.
Naïve I may be but I always said I would not invest on the strength of what anyone said on this board. That does not excuse people from deramping/ramping and I called out both sides.
No apology for anything I have said, especially to you as you stepped over the line more than once by telling people to sell 88E and buy PANR. Shame on you not me.
I think you are proud of your achievements, and you still rabbit on about the cost of a barrel, which has been your main gripe for some time. You are on another company's board telling them they are wrong to believe anything they read from the company as it cannot be right as you have decided through deduction, science, empirical data, fundamentals, systems, calculations, in fact anything at all that you could use to convince yourself that you must be right and the company are feeding inaccurate data.
You always refer to 'us' to give yourself some kind of legitimacy but in reality it is your thoughts, your agenda that causes people to complain about your posts. Others have mentioned your mental health, me I just think you are manipulative in trying to favour one company over another.
Nobody needs saving, I invest money that I don't need in the hope of one day making a profit. I don't need your opinion to help me.
I am not sure why you mentioned Older as I don't recall ever being rude to him, in fact he has educated/corrected me on many occasions and I always thanked him, as I have with a few on this board which may also include you.
I do have humility, I often point out my lack of knowledge in this field. and I do consider myself a good person mainly and I readily admit to being out of my depth with regards to the oil industry and not doing enough analysis before investing. I have always taken full responsibility for my investments, but I have never experienced or witnessed the amount of abuse, on this board, before, just because I invested in one company and not another. That is down to you and your kind. Nobody believes you are here to help out of the kindness of your heart.
I have learned much, mainly from Older in relation to the oil industry, but I have also learned the dark side of boards and the abuse that some have to put up with just because they don't fit with your agenda.
Skippy
To give some thing to compare with, PANR in their 5000 ft multi stage fracked flow test of the ALK 2 ZOI
After 30 days the flow rates were, sustained, stable, had peaked and were in decline.
Note the frack fluid recovery percentage is 40%, much less than the 70% 88e state in their RNS was likely to lead to an oil flow increase as more frack fluid returned
On this comparison 88e with 70% recovered frack water are fluffing it to infer oil flow is likely to improve, when PANR has the evidence that oil flow peaked well before 40%
Evidential quotes to validate the above
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/x8ezopx
"Sustained daily production over more than the last 30 days has averaged over 500 barrels per day of hydrocarbon liquids, "
"Importantly, it is estimated that the well is still less than 40% of the way through cleanup phase, so potential exists for these rates to further improve".
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/ryed58w
"We are less than 40% through the recovery of the frack fluid (well cleanup)"
Neue Projekte erfordern Geld.Woher kommt dann das Geld?
Taximan57 - you posted the following sentence earlier today: "Derampers, you must be very proud of your achievement, we LTHs have lost out yet again."
You know what, taximan57, I genuinely believe that's how you think. Reading your content over the last period that sentence is entirely consistent with the naïve manner in which you view the stockmarket. How dare you accuse fundamental investors/analysts like me of being "proud of [our] achievement".
taximan57 - when are you going to wake up? Losing an uncomfortable percentage of your investment in 88E doesn't seem to be causing you to reflect. How about you reflect on the amount of research you did about 88E before you hit the "buy" button? How about you reflect on the conduct of 88E management and BoD who are your employees? How about you reflect on the voluminous unscrupulous posters on social media (including a convicted fraudster in the USA) who have waged a campaign of misinformation to hook the less informed, unsophisticated investor into the 88E investment case? How about reflecting on the frankly childish and vulgar behaviour displayed by many prolific posters on this forum who, despite knowing the fundamentals as well as I do, refuse to engage on the ***facts*** of the investment case with those who are seeking the truth?
And specifically for you, taximan57, how about an apology to posters like olderwiser and me? What started as a perfectly polite exchange where you were chiefly seeking to educate yourself about listed companies/E&P terminology/88E investment case deteriorated into multiple posts filled with vitriolic personal abuse ranging from allegations of unethical financial manipulation to comments about another human being's psychological and mental health.
Do you have no shame, man? Where is your introspection, your sense of humility? At first I thought of you as good person, bit over their skis, but fundamentally polite and well-mannered. However, as soon as your financial position was degraded (by the *facts* of the investment case, not by people like me) then you turned into a snarling, hateful character. Had olderwiser and I been liars, making stuff up to feather our own short positions, we would have deserved every single piece of abuse directed at us. That you failed to comprehend it was us who were the truth seekers, solely interested in the facts, should, at the very least, cause a significant amount of introspection about taking responsibility for your own investment decisions.
It is shameful you and others have, once the fundraise was out the way, started filling this forum up once again with made up nonsense about the flow test data, conspiracies about an Aussie short fund, conspiracies about a paid for deramper campaign, conspiracies about market makers getting "tipped off to rip us off".
Have you learned nothing?
02:52
Is that right, taximan57? Speaking of "promoting", what are 88E shareholders going to do about the highly unethical promotion by 88E management of a bunch of dishonest articles the company's Twitter account reposted in the run up to the fundraise? The articles were absolutely riddled with factual errors and yet, by reposting the articles on Twitter, 88E management lent their imprimatur to this blatant misinformation. I contend they knew exactly what they were doing.
88E shareholders should be apoplectic, especially those who "averaged down" in the days between the RNS relaying the results of the SMD flow test and the announcement of the fundraise. An active and informed shareholder base should be demanding answers from the Chairman of 88E. It his responsibility, together with the NEDs, to oversee the conduct of the executive team.
The AGM is coming up shortly, isn't it? How about the UK and Aussie shareholders stop abusing olderwiser, rabito79 and me and instead direct their ire towards the individuals responsible for 88E's travails?
So buys or sells…because of course it is not legal to forward sell shares that are not due until next week so where o where is all this large amount of stock today and yesterday coming from considering the low volume we’ve seen today…questions questions! And you still think it is not forward sold? Churn it quicker quicker normalcy resumes! Either way buys good or placing stock being sold good! IMHO DYOR
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
24-Apr-24 10:06:40 0.167 15,000,000 Unknown* 0.165 0.17 25.05k O
24-Apr-24 11:44:57 0.167 30,000,000 Unknown* 0.165 0.17 50.10k O
24-Apr-24 11:21:02 0.169 15,000,000 Unknown* 0.165 0.17 25.35k O
24-Apr-24 07:33:21 0.165 25,000,000 Unknown* 0.165 0.17 41.25k O
24-Apr-24 08:25:32 0.168 25,000,000 Unknown* 0.165 0.17 42.00k O
24-Apr-24 07:29:41 0.165 25,000,000 Unknown* 0.165 0.17 41.25k O
24-Apr-24 08:25:24 0.168 25,000,000 Unknown* 0.165 0.17 42.00k O
24-Apr-24 13:09:48 0.167 15,000,000 Unknown* 0.165 0.17 25.05k O
25-Apr-24 17:05:48 0.17 1,500,000 Unknown* 0.165 0.17 2,550 O
25-Apr-24 15:51:51 0.1664 30,000,000 Unknown* 0.165 0.17 49.92k O
Are all these unknown trades from the dilution?
😻😅😻😭
Agreed.
Although it becomes somewhat challenging when the company's own actions repeatedly fail to meet market expectations.
In that case: detailed analysis of why expectations should be corrected are entirely acceptable discussion points.
Read into that whatever you like. I say that as an 88e investor since about 2015-ish.
And as if by magic... a 30,000,000 after hours print below mid. *sell*
As predicted.
Win, Lose or Draw....if i win Great, if i draw Great, if i lose Great because it’s money that I won anyway🤔😂💰💰💰💰💰😂😂😂😂
For a while now you can sell for more than you can buy! The real spread is wafer thin but if you want large amounts they will not live quote and take it via NT like they are trying to discourage buyers. All forward sold as I maintain and MM want stock but afraid to mark it up as once it moves people will be on it. If there was so much placing stock sloshing around why make it difficult to buy large quantities?
Just for MunnieMoans the point went over your head that was placing stock being sold into the market yesterday last of - and underpinning that it was forward sold over last weeks. I didn’t say it was a buy but the opposite. 127 million shares dropped in that’s no pi it was a placee! If you are so naive to think the placing stock drops in next week then I have no words for you except perhaps open a post office savings account instead! IMHO DYOR
Read the context....
Win, Lose or Draw....if i win Great, if i draw Great, if i lose, its money i had already written off when i invested. Life is for living, to be adventurous, to explore, to learn. Sitting in a dark room being too scared of the What Ifs is a boring life!!
:) :) :)
Wow... new lows. Not just in the SP (which is where all of the level-headed commentators expected it to be after they saw through the multiple fluffed up rns statements) but also in the fact that people are still trying to paint the flow tests as successful when the entire market has sold it off due to the flow being abysmal. 4 barrels, and then they pulled the plug. 70% frac fluid return and 4 barrels of oil... These are undisputable facts. Its worse than bad. Which is a shame, but still remains a fact.
Then as expected just like clockwork a 40% discount placing for a few million quid now being heavily sold into the market and a few underwater PIs trying to convince themselves this is the opportunity of a lifetime.
The SP tells the story. It will almost certainly continue to drop. There is no chance imo at all that a new well is drilled in Alaska by 88e. Zero. What is very likely is a ready supply of hopium and more placings and a consolidation before year end. 88 will likely bait and switch to surveys on other projects. Alaska is a dud as far as Hickory (and the wider market) was concerned.
Anyway, keep smoking the hopium, if that is your thing. One thing everyone can agree on is that 88e will keep supplying it readily to Sharegerbils and the like.
Of course, more after hours prints for sells of 25m shares and more will show up today. Wait and see.
Good luck if you stay in but again, all were warned repeatedly but clearly most ignored the sage advice offered by many. Some sold and are no doubt very happy they did.
"Life is for averaging down" Tragic
Anyone who basis their financial investment decisions on some randoms opinion, on a chat site, maybe shouldn’t be investing .. jus sayin’..
GLA
You could say that it does not matter how long the flow test ran for because it doesnt prove that the flow happened when you were not running it. This is anti science. Unless you are talking about quantum physics - which we are not.
Spinefx
Interesting analogy. So I have a couple of relative questions on this experiment:
Let’s say I leave my water tap on for 24 hours and do in fact get 7000 litres of water; firstly, where do I put those 7000 litres of water? 🤔
Secondly, how do I know that on hour 25 I won’t get air for the next 24 hours? Should I keep the tap running for 2 days just to be sure? Or 3 days? Maybe a week? Now I have about 48 tons of water to store. Should I continue because that tap could run dry for the next 24 hours, right?
…or do I use an educated assumption that the flow rate will continue as fairly constant after those initial 4 hours using industry knowledge and advice from the water company (and my helpful neighbor who checked his tap last week)…
I have faith in this company, so far the news has been positive and the company must be given time to extrapolate the data and continue with its operations. The placing will enable them to to this, now being fully funded for next 12 months.
The share price was always going to dip and be held down on news of a placing, but given time and with more good news coming out then the sp will recover.
Just averaged down from .36 to .27 and happy to wait it out, LTH investor so what will be will be. Win, Lose or draw.....life is for living!!
Olderwiser,
My point is that anything you or I, or anyone else, writes in this forum is just opinion (and should be considered so).
However, anything published in an RNS has to be factual.
Yes, you were correct about the cash raise (didn’t need a crystal ball for that one). But you were also wrong about the flare…and the oil/gas ratio.
When 88e published that they were fully funded, they were fully funded. I have $100 currently in my pocket. It probably won’t be there 6 months from now. You can’t call me a liar in October when my pockets contain a different amount because things change over time.
Also, you can’t have an opinion and state it as fact, especially when your opinion differs from the information published in a legal document.
In answer to your question, I will gladly listen to your opinion (at least a few times) but I will base my opinion on published evidence and facts, not on opinions in a chatroom.
With the implications from the 88e drill becoming daily more apparently, and with Hobbo yet to reveal any "non dilutory" finance, the Panr share price will continue to head for the abyss
It's an analogy to demonstrate that you can draw solid conclusions from partial sets of data. It's appropriate because this is how 88e came to conclusion and how every single other flow test ever came to conclusions to some extent or another.
An interpretation that states the flow rate can only be 4 barrels is in fact cherry picking one piece of data and ignoring everything else. Clearly the flow rate is more than 4.
I can assure you that for the analogy I used that even if I had to call the water company my water flow would be far more than 1 litre a day as an average output.
Skip,
Why didn't you leave the tap on for the 24hrs to get a day rate? You have the time, you've taken 4 days off work to get an accurate measurement.
Not sure about your plumbing but you might get 1 litre in 12 sec then turn the tap off, ring your utility company and report that you are seeing 7200 litres/day
You then turn the tap back on and only get air for the rest of the day but for that 12 sec window you saw a rate equivalent to 7200 litres/day.
In actuality you have 1 litre per day in your jug.
No that's not a good analogy.
This is a better analogy:
Go home and turn your water off at the mains. Leave it for a few hours.
Turn the mains back on.
Now turn on your tap and see what happens. After a small period of time the water flows but it didnt for the full period.
Now time how long it takes to fill a one litre bottle of water and turn off the tap.
Is your flow rate 1 litre of water a day or is the daily flow rate the 24 hours divided by the time it took to fill your 1 litre bottle of water?
Whilst this analogy is somewhat trite it is at least relevant and demonstrates how you extrapolate valid outcomes from limited data.
Older,
It's a bit like saying, because Usain Bolt can achieve a running rate of 44.72 km/h, therefore he can run a marathon in less than an hour.
Fine print: Running rate measured over 100m.