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70 Bopd x 6=420 Bopd = 100 Dollar a barrel
42,000 Dollar a day.x 365 = 25 million Dollar a year.
If 12 time = 50 million Doller a year output.
Goldwater, your maths is completely wrong and misleading. This is so obviously a pump and dump now. Anyone who invests here and doesn't plan to sell on the rise, needs their head checking.
Goldwater is just sharing maths based on the RNS, if you disagree with the RNS take it up with the company and get them to rewrite it but as of right now his maths makes sense, apart from the price per barrel which I am sure is on the high side but gives an idea...
That is a total lie. Disgusting. 70 bopd was the peak flow. Anyone who doesn't understand the significance of that shouldn't be investing in oil stocks unless they want to lose their money.
Goldwater, you may be a bit extreme regarding barrel price but not in 2-3 years so you could be right, and that's just for the upper reservoir.
Total cesspit in here, trying to suck in new blood so you can get out.
Ssccss understand you don't agree but that doesn't stop the numbers being true...
If you feel that strongly get 88E to change the RNS, I am sure you could report them to ASX and LSE too :-)
Wouldn’t worry about it Aye - Ssccss is another for the greenbin!!
Are you deramping then so you can get in lower Ssccss ?
I won't be getting in at all until the resource report is published and funds are raised.
14:42
Goldwater - that is by some considerable margin the most ignorant post I have read on this forum. Forum members - buy/sell/hold 88E but please do not base any decisions on the "calculations" posted by Goldwater @14:42.
70 Bopd x 6=420 Bopd = 100 Dollar a barrel [70bopd was a peak rate, yoiu cannot rely on this figure for production or revenue modelling. The ambiguous, at best, data from Hickory-1 suggests a Long Term Production Test (LTPT) of each reservoir is required before you can make extrapolations like 70x6.]
42,000 Dollar a day.x 365 = 25 million Dollar a year. [Ok, your POO is inaccurate. When analysts model future wells, they normally use the forward curve. You should use $70-$80 or thereabouts but hey-ho. But let's continue with your fantastical 420bopd and your $100 POO, ok? $42k per day or $25m per year, you say? That is ridiculous, completely ignorant. Putting aside for now the capex required to build pads, drill the wells, treat the oil/gas/water, etc, etc what about the opex required to maintain the operation? What about the royalties to the State of Alaska? What about the local taxes? Jeepers creepers.]
If 12 time = 50 million Doller a year output. [same as above but larger dollop of fantasy.]
All - please ignore Goldwater's post. Made up drivel.
Scot126, your own accord . So £40 million in not worth drilling.
People are drilling oil £1 million a years. This is 40 times more.
16:07
Goldwater - you do realise that your figures take no account of the activity and costs required to actually get the oil out of the ground, treated and then transported via TAPS to market? I mean, are you being serious here? Do you expect the well not to cost a penny? Do you expect 88E will be gifted the steel pipes for free? Do you expect the drilling, fracking and production contractors to work for free? Do you expect the State of Alaska to give 88E a free pass on paying the state their share of royalties and taxes?
C'mon Goldwater, you cannot possibly believe your calculations are in any way realistic?
Goldwater, I'm sure you realised that it was a gross total you estimated and that you were fully aware that costs had to be deducted. No need for anyone here to tell you basics but I guess there is always one.
Taximan look at teh charts over the past 8 years, press the tab above, the share has always been around 1p-2p range or thereabouts and yet look at how many more shares have been issued. There's no merit to your argument at all. 25.1bn now and about to be increased no doubt. It's a travesty!
And this is the worst of it, you paid the humungous salaries of Dave Wall and the rest of the Board and their experts, and even though Dave has gone, and probably got a very nice golden handshake for doing absolutely nothing, you are all still paying for their humungous salaries, perhaps more than many here who are being sucked in will ever earn in a lifetime, and this lot only do it for a few years and then take off elsewhere! They are feathering their own pockets at your expense. They've produced nothing, absolutely nothing in 8+ years, and imo, never will.
The most shares they can release this year and after the agm is 15%. If they pass the request for a further 10% the max will be 25% without shareholders approval. If they want more dilution it will be put up at next years agm or a special gm called. Either way I'm not concerned as the company is sitting on the equivalent of a gold mine :)
They’ve just been through a cost cutting exercise and have now got a strong balance sheet on top of their seismic new oil discoveries ! If you are using the past as a reason not to invest in 88E and not their future after their transfomative game changer discoveries as an investing rational, then this alone simply proves your total lack of investment knowledge. But you were happy to invest in HE1 and their past failures and past poor numbers didn’t seem to bother you. Toffers has tried it all now slung enough ‘fud’ and none of it has stuck! Bless him. IMHO DYOR
16:30
Taximan57 - I realise that's what you understand but it's not the complete picture, I'm afraid. I've done this this type of work since 1994. A company facing the cash difficulties 88E is currently facing can ask its shareholders for permission to restructure the company. Yes, the rules you quote are the day-to-day rules of the ASX and what companies can do with their share structure. I submit to you that 88E needs more serious surgery than you imagine. I submit they will need more radical restructuring than is permitted by the ASX rules you refer to. Any proposed restructuring will, of course, require shareholder approval but by that stage there are normally very limited options available if the company is to remain active and/or listed.
I know you don't attach any worth to my input, Taximan57. You haven't even bothered to thank me or even acknowledge the work I undertook to explain how 88E is affected by Longhorn's performance and how to calculate a boe and its revenue. So why don't you ask Brom or some of the other prolific posters if the content above is factual?
Incredible;
> You haven't even bothered to thank me
Why would anyone thank him :-)
16:39
Fact check for Sharebel? Falsehoods, and lots of them.
1) Cost cutting. The COO is departing on 29/4/24 so some action has occurred. Sharebel - what do you calculate is 88E's G&A, listing costs plus annual lease fees? Do you agree that these costs are the bare minimum required to keep 88E listed and active? What is your assumption for 88E's annual dividend from Longhorn. What is your assumption of 88E's future investment commitments if it is to execute its currently declared strategy (Longhorn wells and Namibian investment)? Are the cost-cutting measures sufficient such that the Longhorn dividend covers the costs of keeping the company going?
2) "and have now got a strong balance sheet." That is clearly made up gibberish. Look at the facts published today. Management's own guidance suggests 88E will run out of cash by the end of June. How you can describe 88E as having a "strong balance sheet" is beyond me, and I hope everyone else on this forum.
3) The data received from the flow tests of the Alaskan discoveries are indeed transformative. But not in the way you describe. The flow test results will result in 88E effectively withdrawing from Alaska as an operator. They're already prepping shareholders for this by referring to farm outs and 88E retaining W.I. v's continuing to be the operator.
4) You frequently accuse some forum members of spreading "FUD". Oddly, you never appear to quote example of this FUD, proving evidence these posters' content is demonstrably untrue/inaccurate/made up nonsense. It's about time you quit the angry shouting and bullying and started providing evidence to back up your allegations. Hint - I predict crickets.........
17:00
Ayecuramba - why bother with facts and maths when dreaming is so much more comfortable, eh? Pathetic.
Say the king of made up gibberish ;-)
> That is clearly made up gibberish.
Never seen any facts on any of your posts hence my simple answers, wanted it to be clear for you :-)
Scot126 - why did you not inform us all of your thoughts yesterday, or the day before, what's prompted your sudden reaction today?
TIA SR