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I hold 88 for more than 12months...and happy to hold another 12.
Sp drop only 12% this is nothing...
A deal is a deal of which I'm happy they got one, it's hopefully the start of a beautiful friendship. Just a bit baffled why it took so long to execute for what seems a straight forward deal but what do I know.
The market are never happy with 88e RNS as proven over the years and until we show some oil it will remain that way. I'm sure most of the long term holders can sit it out another 6 months which will bring us into the 1st quarter of 2020.
Are Premier oil a tier one oiler?? I have no idea but they have a proven track record and a 70p a share SP so they must know what there doing.
All the best gang.
Dumped my last few this am I've held for 2 year with a heavy heart. Nothing to see here unfortunately until next year. May be back. GL all. SL
14:10 agree with those comments , may take longer to get that SP up but always likely that any sustained rise would need a drilling season completed successfully.
14:14 yes you are right, DW was asked what a FO could potentially look like and he gave an answer as to what he hoped could be achieved - I am afraid some fail to understand that is "best case" and a few even gild the lily, but in any case how many CEO's would have done any differently.
This is great news despite the adverse SP which is merely a reflection of very short term sentiment. The company is doing exactly what it promised, allowing others to provide funding after using its own resources to carry out de-risking. Far better to have part of something instead of all of nothing! The conventional alone could be transformational and it’s not going to be long before we know. In the meantime I await further news of the HRZ soft farm out.
September presentation required before the end of August.
With a 60% and 50% option for B or C for 9.2m & 7.5M USD carry the smart money might move to PMO who have downside protection. We need some Jam for unconventional and Yukon.
D45, we now have a Partner of substance. They chose to bid after months of perusing the Data Room and Due Diligence. For anyone that has NOT seen this morning's PO Presentation, I would refer you to Slised 18 &19.
http://www.premier-oil.com/sites/default/files/presentation/2019-hy-results-presentation.pdf
Most of the posters on here can't see past the end of their noses - we are gradually de-risking our assets and building up respect in the Oil World.
For the record, the terrible reaction is probably due to DW giving it the big one at presentations saying we were gonna get cash, drilling and seismic.
I’m usually the miserable one on this forum but it seems I’ve been well overtaken today. I’m actually quite optimistic ahead of this drill. The oil is there and was confirmed by malguk-1, bp classed it as a discovery. Will it flow lots, a bit, or not at all? Will 88E become rich, skint or go bust? Stay tuned folks. The September presentation may come a little sooner following the market reaction methinks, and settle a few nerves at that.
Oh Miloh 13:43
DYOR before you make a statement
Western Leases – Winx-1 Exploration Well
The Winx-1 exploration well was drilled to ~2,500’ on the 20th February (AK time), with surface
casing run and cemented successfully. The State supervised inspection of the Blow Out Preventer
system was completed on the 24th February. Drilling has now commenced in the intermediate
section of the well, where the primary Nanushuk targets will be intersected.
Logging while drilling tools on the bottom hole assembly, combined with mud gas ratios and cuttings
analysis, will provide initial insight into any potential hydrocarbon bearing intervals encountered
during the drilling of the intermediate section. Additional data and analysis, including from wireline
logging and potentially production testing will be required to provide more definitive results.
keefy
30% of area A.1 billion barrels.
And they're paying for the drilling,sweet.
It'll take a while for ye non explorers to realise the shakedown.
Let them have it.
I'm here for the frac.
13.43 "Must have some fantastic drilling and testing equipment to drill and test in 1 quarter"
How so?
Winx had a 45 day drilling schedule from spud to flow test. 91 days in Q1 2020. Doesn't seem that unrealistic to me, weather permitting.
Brian, what the hell are you on about? A serious lack of money will hamper any attempt to develop Yukon. The market knows that, and also knows this company now goes into a coma for the next several months. No decent money arriving from the FO is a real kick in the *****.
The reason why the market didn't react positively today is because this RNS was preannounced and expected.
Period
What a joke FO was going to life changing lo listening to guys on here lol..,, 2p 3p JAM,, WAIT till after xmas for an exit point, its AIM, corrupt.. always 2020
The deal is fantastic for 88e, for what we are. The sells imho have been caused by scaremongering. Prem oil is not as small as folk think, tier 1 or other is irrelevant. Prem have proven successes and the fact that we require no funding for this is huge. The opportunities have grown significantly with this deal. By far the best news we have seen for 88e for a long time. Now the price has reached here wont be long as the herd get in at a cheaper price. ASX will prove worthy on this news and see a gain. We have too many school boys on this forum deramping to try and make a benefit on there shorts... matter of minutes before we see this back in blue. Certain of it.