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21:51
Redirons - I post here because 88E and its NN share an asset. As they're both listed companies, it is a standard valuation technique to undertake comparative analysis on two companies which share an asset. I am sorry you don't see it that way but that's the way fundamental investors work all over the world.
I don't think I've ever posted that I would never invest in 88E - happy to be corrected. It's hard for me to invest in a company where I don't believe the activities of your Alaskan General Manager are fully understood or supervised, least of all by anyone on this forum. Asking your BoD how a well originally budgeted to cost US$12.6m and coming in at US$30m would seem to me to be only the first of many, many questions which 88E shareholders ought to be asking of the directors.
I appreciate and accept the vast majority of posters on this forum believe, like csw12, that 88E is a hype and meme stock now. This majority of users is hoping for at least one more "go around", seeking to profit off the backs of another social media disinformation campaign and naive/ill-educated American OTC mugs. Knock yourself out if that's description fits.
None of that makes any of my fundamental questions any less pertinent or any less valid. I have lots of unanswered questions. They're fair, they're written politely and if any fundamental investors remain active on this forum, are exactly the questions you should be asking of yourself and your BoD. AIMHO.
21:51
Hi Turnstone - dinnae fret, no nerves were touched or otherwise damaged by your post. In turn, I better ask after your nerves because you obviously feel sufficiently moved by the content of my posts to have made a number of very similar suggestions to me. It's awfully thoughtful of you but you don't need to give me that advice again. It's noted, it's digested and it's politely rejected. Good stuff.
Hi Turnstone - I green binned Scot ages ago and think it totally wrong that posters like him should be able to invade a Board he admits he’s not invested in and then spout off whatever negativities he wants. I conclude he is a very sad person indeed. Wish he would push off back to PANR and leave his altruistic sermons and quizzes on their Board only. Brom on the other hand is a selfless well researched poster who posts facts for others to assess or ignore at their will - in short he is a diamond and this Board is lucky to have had his considered contributions for so long despite being under personal attack many a time. Thanks Brom and good luck to you Turnstone.
Hi Scott, looks like I touched a nerve there, For clarity I am not saying your questions are not valid to you, what I am saying is why would you spend so much time talking the BB, asking questions that are designers do illicit a negative / emotional response; when you openly say Im am not gaining to invest in this share and this why... Great I get the message as do most people on the Bulletin Board.. I simply do not get what you spend so much time going over the same rhetoric...yes fully understand you choose not to chill and real for x-mass your prerogative but life short chill, no need to be on a crusade..wishing you a merry x mass and relaxing new year ;-)
21:04 and 21:15
For the avoidance of doubt, Turnstone, the questions I pose are 100% legitimate. They are completely standard questions asked by professionals in the equity markets, and especially so when two listed companies share an asset. That all of the prolific posters, with the notable exception of csw12 who recently and honourably admitted 88E was now a hype and meme stock only, choose not to provide an answer to any of my questions does not invalidate them. Rather it should give all readers of this forum pause for thought. If you've read back a few days of posting, Turnstone, you'll note various fellow shareholders of yours are also now asking some of the same questions. Good night.
21:04
Hi Turnstone - thank you for your thoughtful post. I've considered your advice and on this occasion have opted to not to accept it. Hope all well at your end too.
Hi Scott, just thought I would have quick look at the BB and was surprised to see you still here, as you have made it clear to me that this share is not for you and you will not be investing, you constant challenge people on why they would invest and I must admit I don't understand why you continually bait Brom ; I have been invested a long time and yes Brom does post quite a bit; but i find his posts both informative and balanced. as far as I can remember he has never offered advice either way, I have read multiple posts including yours, I form my own opinion and decide if I should invest or not.. as do most people on this BB, why not have a break, relax and get into the christmas spirit, not long until the drill seasons start :-)
16:51
Hi Brom - this forum is still waiting for your reaction to Rabito79's fundamental analysis on 88E? Also, I asked you directly if you agree with me that 88E's mkt cap, on any given day, should be <20% of its NN's? O)r do you agree with Rabito79's assessment that it should trade around 30% of the NN's mkt cap - based solely on the fundamentals of course?
Now then, your post timed at 16:51. Question? Is this a gentle nudge to readers of this forum to head over to another website? If so, I think that's against the rules of lse.
Let's ignore that issue for now, shall we? If you were suggesting readers of this forum head over to the very warm highly conductive website in Oz, is that because there are fewer active sceptics on that forum? Perthaps fewer folk who are capable of dissecting the 88E management obfuscation *and* the social media hype/falsehoods?
You'd never seek to pull the wool over lse readers' eyes, would you Brom? All fully transparent with you, isn't it? Anyone starting to get the feeling Brom has been manipulating them over the years? I'll grant you he's very accomplished at it, but that's exactly what he's doing. But you don't need to believe me, ask him yourself. What does he think is the risked/unrisked value of 88E today, right now, before the beginning of this winter season? Ask him for his comparative valuation of 88E and the NN. Both neighbours, and owners of a shared asset, are now fully funded so it's an apples and apples comparison. Good stuff. Please let me know his answers, ok?
....hope they're all wearing appropriate 'underwear'. ;-)
courtesy of Spinefx HC seems a bit more developed as a website :-)
https://hotcopper.com.au/threads/ann-merlin-2-operations-update.6467630/page-13?post_id=58175888
We don’t need to underestimate the ‘Biden delays’ as the company told us the effect on the 10th February
‘As previously announced, the field operations for the Merlin-1 well were delayed by approximately 6 days owing to the decision by the US Department of the Interior to introduce 60 day suspension of authority for Department Bureaus and Offices in relation to the issuance of new drilling permits on Federal land. The Company received its Permit to Drill from the Alaska Bureau of Land Management on 28 January 2021 and this was approved by the Deputy Assistant Secretary for Land and Minerals Management on 29 January 2021. Owing to the advanced status of preparation for the drilling operations at Merlin-1, this brief hiatus has resulted in additional costs being incurred which take the total costs of the Merlin-1 well (including contingencies) to US$12.9 (US$1.4 net to 88E).’
Sounds like they were $16-17M short in their contingency planning!!!!! Where did this money go?
snow cover levels achieved but ground temperature between -0.18 to -3.61 deg C at 30cm (6") at 7th Dec.
prepack activity should encourage ground cooling.
Next two weeks are cold. No daylight.
https://www.timeanddate.com/weather/usa/prudhoe-bay