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09:43 - Forgive me if I'm slightly missing the point, but after WINX the share price basically dropped back to where it had been (then a little lower again after the CR). During WINX, 88e max'd out at 1.38p (Whilst RMP ramped itself to over 7p at one point!) We haven't seen 2.5p+ since IW2. Once the news flow starts, hopefully we'll see a raise. Personally I think the share price is being held back a little due our history, the recent further CR, etc. I'd be surprised if we are over 2p before drilling (but very happy!). Just an opinion though :-)
Very true. It is not helped by the fact the ratio for the ASX is different to LSE listing. Quite consikderably. They are even more undervalued by my calcs. Perhaps some reason why from time to time the two values in SP diverge (although they follow similar trends) if you look closely.
yep I concur, my main market watchlist (and indeed investments) in red too, thought 31st Jan would herald the end of the world as we know it in any case. Cupboards, garage and shed stacked with tins, jars and bottles and prepared to live on salmon, trout and venison until the end :-)
09:17 just a note courtesy of Dynamo2 08:17 Saturday.
"It was to fund working capital and other admin costs etc. You can work that out by reading the RNS and what they said the money would be used for.
......provides the Company with sufficient capital to:
· fund potential costs of the Charlie-1 appraisal well above the Premier Oil carry (carry up to a total of US$23 million) - drilling planned for February 2020 spud; • fund lease rental payments on the Company's Alaskan acreage; • fund interest payments on the Company's debt facility; • fund new venture opportunities; and · finance the Company's ongoing working capital requirements and general and administrative overheads"
09:17 if rent is not paid then leases may be lost, it happens on a fairly regular basis sometimes because the lessee no longer values the plot, other times because there is no money. Very tough on those who expected early pay back of expenses via the SOA exploration incentive. Suggest those interested read a mature view (IMO) from HC and not the spoutings often driven by motives other than altruistic :-) https://hotcopper.com.au/threads/88e-true-potential.5185393/page-26?post_id=42574066
I was reading a large number of posts on HOT-COPPER. Many were criticizing DW for the 3.5% dilution to raise 5 million dollars. This is (I believe) to cover licenses etc. Might I point out a classic case where a cash rich company (Providence Resources) , hit a problem with a money transfer, then had to relinquish licenses, and is now unsure if it can regain those original licenses back in this greenest of climates.
Having seen this first hand I think it is short sited of some on HOT-COPPER not to realize the current cliimate might not allow any lost ground over relinquished licensees to be recovered. He would probably not want to worry the market and is probably ring-fencing this money for that purpose, allowing the remaining cash to used if necessary.
A very prudent move IMHO.
In an earlier post I was referring to price to book value, if you can find me a new car for 1.83p I doubt it will drive (or is more likely)and is made by matchbox. !.83pps was the baseline I figured.
"The Charlie #1 exploration well will be drilled to a depth of about 11,000 feet true vertical depth (TVD) to test stacked conventional objectives within the SeeBee Formation. AEA will use the Nordic #3 (or similar mobile land drilling rig). The well will be designed and permitted in accordance with the Alaska Oil and Gas Conservation Commission (AOGCC) regulations. The well may be tested and hydraulically stimulated/flow tested, and may include laterals, sidetracks, or additional penetrations from the same exploration pad. Operations also may include wireline logging and related seismic surveys, such as vertical seismic profiles (VSPs). "
01.26 - V111JAS: Good morning. It will be a useful measure of intent and confidence. I assume the final permit will refer to a total permitted depth (? Brom) and that could well be the end of it. However, let's see if we get 'wriggle room' :-) VGLA
Totally agree Reaper . The CR has been a disappointment , I think many , including myself , were not expecting it at this time , at this price . It`s done . I think your explanation , supported by the information in the RNS , may well prove to be a real game changer . Regards .
22.53 - maybe. However, the HRZ intersection is a near-term culmination of work in that zone to date. DW did say at Globe that it was a deliberate strategy to keep attention on conv this time as 'it was felt' that the best thing is to help the market focus on one or the other at any one time. There is that deeper layer too and, despite logical reasons given for the recent cr, what if the biggest motivation is to provide funds to cover a deeper well; makes sense once drill is that deep. That then raises a very interesting possibility because if it is announced drill is going beyond HRZ it would represent great confidence in drill prospects prior to April news. Drill cannot realistically be 'paused' into April but an increased TD would be a powerful sign imo, however unlikely it is to happen - we shall soon see. VGLA
If Charlie goes well, then I’m expecting PMO will trigger farm-in option and will acquire % in Area B & C and will do 3D seismic. Next winter will be huge for 88E, as 88E likely to participate in Charlie horizontal well plus good chance of Yukon appraisal well.
Also need to consider when it goes well, would it multi bag from there???
Bearing in mind the well will be sat for another 12 months until 2021 winter return, again I can't see people investing too much and tieing money up for 12 months when other rainbows can be chased.
Hope I'm wrong, but it's not out the question.
On the other hand a possible buy out in the summer if testing and results go well a return may not be warranted. Extraction could be bought forward 12 months...catch 22...I wouldn't want to be out over the summer...
Need to be abit realistic. 2p is next to impossible. Now, it’s over to drill result that will decide next direction of share price. If unfavourable drill result, price will collapse and if good result then price will multi-bag.
Also, need to consider one thing, shallow zones are high risk and at sub optimal location; likely result will be not good and everyone should prepare for that. Albeit market will punish but we all need to be mentally prepare for that. Charlie-1 is primarily about torok formation