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10:44 we have done the analysis this time (almost certainly in conjunction or at least vetted by with PMO), utilising up to date seismic inversion analysis rather than the Stolt migration techniques used by OEL at Winx.
More on seismic inversion, Stolt & dispersed clays in wiki88.
http://88ewiki.wikidot.com/drilling
What Winx did demonstrate was the ability of Erik Opstad to get the job done to plan and budget.
10:04 there will be some very hard nosed analysis of the drill via online logging, cuttings, pressure and gas analysis etc, if commerciality exits in the formation then I am sure it will be taken advantage of.
We will have utilised well log data from historical wells eg Heavenly and of course Malguk#1 when completing the seismic inversion analysis to ensure the best possible location plus always remembering that Premiers primary focus is the Torok.
I agree Bridgedog. Observing that we are on the edge of 7 targets, seems quite a mild concern. However, in deciding where to Knock the nail with your $23M hammer I doubt anyone could find a more sensible spot. For discussion if course. I also believe that they had this dilemma when choosing Winks location (no matter who decided), but that leads me to believe they would not make the same mistake twice. I don't believe Winks was a mistake. They learned a massive amount from that drill. Come drill time for Charlie 1, all will be revealed, or used to further crack the code of unlocking this ocean of black gold. Hopefully all will come good sooner rather than later for all our sakes.
Good luck all.
Great video. One thing that struck me was that we are just on the edge of many of the targets, even the Upper Stellar. Not sure whether this matters but wouldn't want to see prospects written off because we have just missed the 'sweet spot'. Any geology comments of targeting the edge of the prospects?
I agree. It's a very informative video. The formations are complex issues to understand. This video projects the potential and complexities, in a way that makes it all seem straightforward.
Good luck with the drill.
That was a real Glossy Polished Promotional Video worthy of even Marks and Spencers Christmas Panatone cake .. That sort of stuff should boost the share price because it gives a good general idea of whats happening to the none technical (like myself) who wants to know more about the company and its activities but does not want to join the activities of the (DYOR Brigade)
from video 2:10 min onwards, "... quality of these reservoirs is likely to yield commercial flow rates using today much improved completion technology"... about Malguk-1 discovery.
Well, if you check back on 88E, their previous drilling its weekly.
https://www.investegate.co.uk/Index.aspx?searchtype=3&words=88e&pno=3
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Continuous disclosure rules under rule 3.
Look at any ASX company drilling, they provide constant updates. No ASX listed company is allowed to withhold any market sensitive information - so they update continuously while drilling.
07:38
Which rules states weekly updates?
I have looked at rules 3& 5 plus guidance notes and see nothing specific.
https://www.asx.com.au/regulation/rules/asx-listing-rules.htm
https://www.youtube.com/watch?v=8kHZ5K09GgU&feature=emb_logo
And to reiterate, as 88E is dual listed AIM and ASX, they have to provide a weekly drilling update as per ASX rules.
Which means each of those targets is going to get its own RNS update, making news flow constant from spud.
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All very glossy, let’s hope it flows ? Gla !!
also available now on 88E website
88energy.com/
Brilliant Video! Thanks for sharing
https://youtu.be/8kHZ5K09GgU
88Energy YouTube page just released a little teaser video!