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Down 6%. Looking good for the farm out
It is a bit quiet today, not much to do other than wait for the news.
Maybe will be some news around Prudhoe bay this week, possibly tomorrow, depending on any truth to the rumours of BP calling a meeting for their Alaskan employees.
Dodo springs to mind
Any day now.
who is 89 energy?
re cap on last RNS
88 Energy Limited
06 August 2019
6 August 2019
88 Energy Limited
Project Icewine Conventional Farmout Update
88 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") provides the following update related to the farmout process for its conventional prospect portfolio at Project Icewine, located on the Central North Slope, Alaska.
Highlights
· Exclusivity agreement executed by 88 Energy and Burgundy Xploration, LLC (together, the "JV Parties") with preferred bidder to facilitate near term operational activity whilst final terms are agreed on the proposed farmout agreement:
o Exclusivity granted by the JV Parties until 31 August 2019, with customary exclusivity undertakings;
o US$500,000 payment (the "Exclusivity Fee") by the preferred bidder to the JV Parties to facilitate incurring of initial agreed costs associated with the 2020 drilling program;
o Exclusivity Fee non-refundable unless the farmout agreement is not finalised owing to an act or omission of the JV Parties.
Media and Investor Relations:
88 Energy Ltd
Dave Wall, Managing Director Tel: +61 8 9485 0990
Email: admin@88energy.com
Posted by spinefx on HotCopper
Msd,
He also said, first, I might add,
Screenshot_20190816-201646__01.jpg
Soooo, on the 26/6 the Farm-out was approved but only now subject to,
Closing docs and standard conditions precedent relating to Working Interest transfers.
Then..............
Screenshot_20190816-201750__01.jpg
We received the above on the 6/8,
Final terms are still not agreed on the proposed farmout.
No mention of these un-agreed terms 5 weeks earlier, when the approval was announced.
Does not add up, again.
I suspect the Exclusivity Agreement until 31/8 is a carrot.
Just my thoughts
Cheers
News within 2 weeks or a delay. Let’s see if DW can break a habit and gives us all good Transformational news. Let the force be with you.
Hull : I think the Herd knows you are there !!
https://youtu.be/-7sdNOJ3q0U
;))
Lol..I think every week since mid December, someone has said that they would be surprised if we didn't get an RNS next week
The "Herd" have passed close by a number of times, but the Lion hasn't left the area yet so the "Herd" have circled round and will try and approach the share again.
I’ve been waiting for the “Herd” to arrive for weeks now!!
I'll be surprised if we don't get an RNS this week stating terms and who's involved. I could be wrong but even if the RNS lands in Sept, so be it.
At a guess, as we get nearer to the RNS the 'punters/herd' will arrive for a quick buck and lift the price (yet mms trying to hold it back) slightly which will bode well for a possible lift at RNS.
Crap deal we gain 25% on a spike and back again to 1p then long term to reap any rewards.
Average deal we hit 2p then dip and settle at 1.8 after sellers then long term we reap any rewards.
Good deal we hit 2.5 and settle at 2p after sellers then long term blah blah.
I'm going for the good deal, due to the time this is taking and a possible a T1 are creating a complex deal due to the info they possess of the fields being a stonker and their crossing those T's to benefit themselves (which 88e will be rewarded also).
I think either way we'll get a spike which will dip, as alot want to bail out after past let downs.
I'm sitting tight and long term if need be, because if we have a T1 or even a T2 looking for the black stuff I reckon they'll find it for sure or why would they be talking to us and bunging a quick half a million our way?
This is my opinion and DYOR please.