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Glass half full .
https://www.reddit.com/r/EEENF/comments/1bzifle/eos_satellite_landsat_48/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
Results have not been delayed, this is the current rhetoric that the de-rapmers wish to portray, they make a statement, agree with themselves then continue it hoping it becomes the standard belief.
The company clearly stated on the 2nd April "We will now proceed to undertake flow testing of the shallower SMD-B reservoir over the coming weeks. This is a zone which has previously been successfully tested on adjacent acreage to the north. We look forward to continuing to update shareholders on the progress of our Hickory-1 flow testing operations."
Additionally, the cavendish morning note, noted on the 2nd April that "well results expected in circa 10 days from 2nd April"
Thus just more attempts to spread negative lies, unless any of these so called helpers would like to direct me to the corporate announcement on the delay,.......no thought not!
Kpasa. Because the market brings the price back and those not as smart get caught.
Stats20. That’s this Friday in Aus and that’s the originating country. So now they have delayed it to next week. This is not a problem. So why are you pumping the price up before you get the result?
Actually the more I read this RBO the more I question the way he uses the term 'we', I would question if you are even invested, or at least if you are long.
You seem to try very hard to a paint a negative picture, even on your faux positive posts they include the negative.
Look at how the SP picked up today on almost nothing, there is nothing at all that lays down any proof that for the share price to advance it MUST have at least 1 billion shares traded, for sure 1 billion shares being traded, particularly if most are buys will propel this stock massively, but your posts verge on the lies. Such as the comment "Glam I have no issue with the delay (if they were upfront and don’t try to disguise it)"
- there is no fact at all in this, it is your assumption, your supposition that you wish to portray, why is it not, as most would see, 88e marketing itself as we should expect and hope, (I guess people would moan if they didn't put out any tweets) it seems you have an ulterior motive for everything that is done and it can never be anything but negative.
Ridiculous, grow up you're as transparent as clingfilm.
What do you not understand about the term 'coming weeks' its plural.
what do you not understand about the term circa 10 days, its an approximation and by a third party at that, their guess.
but heh, don't let the facts stand in the way of your narrative.
Stas20 13:44
88e is overvalued. Sorry. Fundamentals don’t lie.
88e 2u is about 680 mmbls. Good but valued at a much higher rate than PANR. We all want 88e to succeed but a correction will occur. Currently 88e is funding its growth through CR’s at shareholders expense. (Longhorn, Namibia). 25 billion shares, Aus at 006 - there will be a consolidation - Then more CR’s to fund more work. Shareholders are being screwed by management
This is my own opinion DYOR
Stas20 on tundra for coming weeks- flow test has always been 10 days. 2 days start, 4 days test, 4, days cleanup. Rest of time demobilise rig off tundra.
Seems I need to give this to you again, what's this 3rd time, I welcome a consolidation, that will be a problem of course for you as what will you use as your next punch bag subject...
• Past Mkt Cap 2/03/2022 with 15,725,361,910 shares. The share price closed 2nd March at 2.79p giving a Market Cap of £438,737,597. A similar MKT Cap today with 25 billion shares in issue would equate to a 1.755p share price.
• Thus, trading at only 18% of past valuation, huge upside.
• Comparison to PANR shares (only because so many like to use the comparison and moan that 88e has too many shares, as if that’s an issue!)
o PANR current Mkt Cap of £324m from 944 million shares with share price of 34.35p
o 88e current Mkt Cap of £83m from 25 billion shares with share price of 0.33p
• Thus a 30:1 consolidation of 88e would give 833 million shares with a share price of 9.9p thus the 25 billion shares may look problematic now, however a consolidation would resolve the issue and indeed make comparison wise PANR look overvalued at almost 4 times the Mkt Cap of 88e without the moaning associated with share count. Do PANR have 4 times the assets value
Stas 14:17.
What is occurring today isn’t a rise it’s a pump. A rise is 15% or more on LSE.
I realise you don’t like negative posts, but the alternate view can stop others less experienced than you getting caught. 6525 posts = ST trader I suspect. Sorry
Stas20 your post on consolidation is wrong. Go read some books! This share will crash and burn on consolidation
DYOR. I have done mine
Hardly a pump when it is only up 4.5% is it
Lol RBO, you seem to be full of statements that you consider as facts. Now you even seem to have defined an exact percentage for what determines a rise, mate you have become a joke here, I can see your type, been here too long, seen them many many times, you won't give up till you have the last word, you have little clue but portray everything you believe as being the defacto truth. knock yourself out as this has become ridiculous.
Stas20: lol isn’t it funny, I’ve seen your type too. Pity no profit for you today. I made $$$ on PANR and I didn’t need to pump! Up 27%
88e will have its day in the sun hopefully next week
"Pity no profit for you today. I made $$$ on PANR" - lol how old are you 12!
14:31
Don't think I have ever come across such a definition for a rise.
Check LSE home page "risers", % goes well below that "15%" watermark,
https://www.lse.co.uk/share-prices/risers.html
Are you still holding shares here? because if you are you must be something of a masochist based on your conviction post at 14:34.
20/20 vision, good one ha!
Red I don't think it was delayed at all. They said in the last RNS it'll take a few weeks, and Sunday is Monday in Aus remember, so they may well drop it our Sunday night! If not, could be anytime next week! I'm expecting a FOMO Friday due to this! GL!
14:03
Not sure where you got that US$30M flow test from, the last figure issued by 88E as far as I can see is ;
Project Phoenix: Hickory-1 Flow Test
"88 Energy has a 75% working interest in the Hickory 1 well located at Project Phoenix and will fund the ~US11 million (plus contingency) flow test program with funds in bank."
Of course the reality may differ but at this point in time that is the estimate from the company.
https://clients3.weblink.com.au/pdf/88E/02790279.pdf page 75
Brom I ignored the first because your comments were stupid.
Ask yourself how could they do a flowtest without drilling the hole. How much did that cost? Both could have been done together - PANR stated they do in a recent video.
Stas20: Approaching 70. No I was not rubbing your nose in it, I was merely stating that large rises can occur without pumping. 88e may do so next week and I for one hope they do
15:48
As was your original comment ref "rises" on LSE.
Are you combining the the original Hickory-1 drill with the flowtest to get a sum total? If you are then why not state that clearly rather than a rather wooly staement that could lead to none researched believing the cost of the flow test operation was very much larger than actual.
Lol 12.5 million buy
Brom I was not being deceptive by combining the drill and flow test. You are applying accounting method because 88e chose to separate the two events. I combine the two because that’s how much it cost to do two flow tests.
Both methods are correct depending on the context
16:31
I would agree with your overall view that we should have got on to the ice much earlier in 2023 and completed the job in 2023 rather than having to go back this year.
Likewise not sure why we got onto the ice later than originally envisaged, fortunately we are close to the Dalton and weather remains cool so little chance of stranding even if we run a few days over.
Brombarb, the reason the company gave was that the wanted to speak to experts to make sure they did the flow test correctly. As for this year's delay the rig was supposed to move weekend 17th Feb but they then said negotiations were complete on 17th which meant it could not move for a further week(end) due to road closing. After the testing started, which again was after they estimated, there appears to have been weather issues. This is now being the reason everything else is delayed. A continuous timetable fiasco which may result in leaving the site later (again) than expected. I'm not sure if delaying the flow for a year was the correct one but I am all for waiting on expert opinion. Delays with silence has been my gripe since 17th Feb. I noticed that someone pointed out that PANR did the drill and flow the same year but this is not the norm, it is usually over two years (according to PANRs own JC).