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ConocoPhillips Alaska has incurred $4.8 billion in taxes and royalties, while still investing $3.1 billion in capital in the state since January 1, 2020. Our net income was $3 billion during that same time.” This is what can happen if right major got involved.
And a lot of the $3.1 billion in capital is Infrastructure charges ,
So compared to price they would have to pay 88e , it a no brainer .
They are clearly going for the JV for Hickory. Shows confidence.
The pumpers have arrived let the cycle begin. The "Sophisticated" investors will sell into the rise. The noddy PIs will be left holding the bag just in time for the next dilutive fund raise or better still consolidation.
The fact that none of the 88e management team bought into the placing speaks volumes. If Ashley etc wont back 88e with his own cash on the eve of its "greatest" discovery at historic lows then honestly there is no hope for any existing 88e investor.
While over at PANR, billionaire investor, ex treasurer of the Conservative party Lord Spencer of Alresford, just increased his holding to over 7% percent. Why do you think someone so connected would do that ? Anything to do with imminent IER and funding news ?
You read right.. 👍
Great news: They achieved the successful flow of oil to the surface, for the first time!
Now fully funded, SP should be going back up to 3.5P and more.
You read right Rayon, but the interested parties are only confirmed with Ieonis at the moment
Did I read that right? The latest raise leaves the company fully funded for at least the next 12 months, in which time they’re seeing a JV in which their are a number of interested parties?
Another early doors big buyer - nice work! Matching the many big buys that went in yesterday! IMHO DYOR
24-Apr-24 07:33:21 0.165 25,000,000 Unknown* 0.17 0.175 41.25k O
Well absolutely Barn considering just a few weeks ago we were trading in the 40’s! The SP was worked down as we all saw with our own eyes. Now reversal in play after shorting activity and forward selling of placing stock! Entrants buying now sitting pretty & LTH buying and taking advantage of these artificial historic lows and averaging down! IMHO DYOR
Very oversubscribed so people who missed out will now want to be in at this low level.
The potential as we know is enormous.
The company valuation compared to a neighbour is paltry.
A doubling of this current share price wouldn’t surprise me short term with a lot more to come now the funding is over.
A first, If i recall correctly, partaking in a placing. Typically 'sophisticated investors' in most, if not all previous placing.
Next level now 18 v 18 and NT for large volumes …I believe we will see 20 at some point today! We are better placed than ever now in the history of the company and the 2 x new discoveries fast tracked to commercialisation will be transformative for 88E in 2024! Bring it on! IMHO DYOR
PIs continue to provide liquidity for yet another placing and inevitably get left holding a steaming bag.
We just need 1000% rise to get our money back
What a fantastic RNS, I see nothing to be worried about. We got the best results in the history of the company, now we have the funds to move forward with proven oil plus other exciting projects.
Oversubscribed placing
Fully funded for all projects
Progression now from explorer to commercialisation and a producer
Possible buy out of 25% to get 100% ownership prior to JV Major sale/farm out production
All projects advanced and securely underpinned for next 12 months
Working capital and administrative expenses funded next 12 months
No further threat of dilution within next 12 months
Money to come this year from commercial production fast tracked now
Company in strongest possible position in their history
A raft of news to come on all projects so entering heavy news rich period
Majority of placing forward sold and churned (I strongly believe)
Short cover needed and exposed
IMHO DYOR
Up she goes! Massive overreaction yesterday!
Sharebel
Now that is another bare faced lie, care to back it up with something other than your discredited opinion
I see the Oz boiler room crew OldDuffer and Scrotum126 have been working their nighshift throughout both uninvested and both showing obsessive behaviour to slate 88E from every angle! Well when the rent is due they got to earn their crust from each post for that Oz shorting fund! Heads up BOD cannot participate in this raise because they are legally excluded from it you clowns! IMHO DYOR
Course they ll be snapped up when it was at 30-40% discount to screw most existing shareholders up *sigh*
If Dave Wall gets in GTFO that guy was an absolute #@$& if anyone is wishing he comes back they are sadly not very well informed.
Either or E.T. It tells me one thing and that’s where this share is heading!
Ravon or they had $5m worth of shares at a average of 1p dump them last week knowing. and now they have $5M at a average of 0.001p
‘Successful’ yes this is what success looks like!
Reading the de-rampers yesterday that must mean that whoever purchased the shares did so to loose their money! Must have been wise investors!
GLA