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Sorry Jiddy Icewine made alot of people money, and sp rocketed :-)
I am NOT denying that LGraham, me included, however it was simply NOT a duster!
I will ask you again, why is a soft FO underway and why are they including the HRZ in Charlie 1?
So we're producing oil now are we jiddy? No. Therefore it was a comercial duster. Black is not white.
You can dress it up how you like jiddy. It was a failure!
We both want success in here obviously, you just dont like a more neutral approach to 88e.
LGraham and stockdale - stick to your guns if you want, I simply don't care!
IW2 was a duster. Take the blinkers off Jiddy!
14/21 AIM watchlist shares down, only 2 in the blue and of the other 5, 2 are suspended, market is in turmoil and many investors (traders) getting out just now it seems, or at least MMs are taking advantage.
Markets brutal Brom
Was winx not drilled in the wrong place???
Jiddy Icewine as a project might not be a failure yet. Depends on the results of this next drill as DW said this is its last chance. Icewine 2 was a total failure and most certainly a duster, not one drop of oil came up and it was expected to be flow tested remember. I hate the derampers as much as you but let’s not try and pretend Icewine 2 was not utter failure.
@8.34 and as SS said in the last presentation 'The day after we picked up this acreage Dave was approached by one of the geologists who sat that well back in 91 who now works for hillcorp and he said "We'd like to do a deal with you because I sat there and I know what I saw" '
HRZ may still fly one day and the data gathered from Icewine#1 & #2 may prove helpful but I think we are still a long way off proving the concept.
Hoping the HRZ core from Charlie-1 will be positive but …
Eyes on conventional.
Lease 391302 may still prove very useful for Alpha target.
Hope you're right Jof - I will never forget PB's excitable presentation to us in London in 2017 and that man was a true genius - if he believed the rewards were there, i certainly do and just sad he will not benefit personally - hold tight folks IMHO!!
Just bought more to take my holdings to 3m. Yes I’m massively overexposed to 88E but I am confident that the weeks and months of research I’ve done on the company will bring its rewards. My short term target price is 15-20p in April/May this year and
40-50p in 2022. Deride me all you like it’s my opinion and that’s that. DYOR and come to your own conclusions.
Nutsy - sorry I wouldn’t normally comment but 15-20p in 2/3 months time = c£1bn mc
I think that’s a massive stretch in that timeframe
That’s ludicrous.. not a chance! A 1b MC is obscene possibly £300-£500 MC take a look around at other companies and MC’s relative to 88E. Even PMO is only around 700M MC.
Something very dodgy with this share how is it possible for the price to decrease.Total manipulation
Prob with PMO is heavy debt in their balance sheet, that's why market cap is around £700m. Most of the value has been sucked out by the debt.
Whereas, 88E have no debt at the moment, infact they have payment receivable from Alaskan govt around A$29m.
Bits, "how is it possible for the price to decrease".........er, that's what shares do innit?
And sometimes they increase.
Similar to Brombarb, my watchlist of 20 has 5 at zero, the rest drop as far as -18.5%
11:17 88E has debt, it's underwritten by SOA but costs interest every quarter.
At the moment we await a Court of Appeal Judgement in Alaska (12m in progress) as to whether we will tax credits due from SOA paid in one lot or piecemeal over the next 4-5 years. If paid in one lot would see us take a haircut but walk away with ~US$ 2M.
Boom.boom I don't think you have seen the last published 2019 accounts. On page 10 of the report they say credits owed are A$27.3m against debt of A$22.7m. It has been a constant minor irritation to me that the Alaskan authorities have not paid up as the interest payments keep reducing our cash and hence ever more credit raises!
11:31 it's a major irritation to me that the jv committed to Alaska based very considerably on the exploration credit's scheme, the way that SOA not only pulled the plug on the scheme but also then vetoed any payments for 12m.
Of course it could be stated that we should have been prepared for changes to the scheme in the light of the oil price drop in 2015 but to veto payments for 12m and then only repay at legal minimum rates (plus a little) has not only hurt 88E, its put other companies in big difficulties too.
Had the scheme continued our development would have been speedier and a lot less costly almost surely, had payments remained as prompt as pre 2015 we would have paid a lot less interest as well.
Brom, 88E have debt but it is fully covered from SoA payable.