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Taxi
What you do know, is they chose not to flow test it. Take a neutral stance and ask yourself, why wouldn't 88e take the opportunity to prove a flow on their largest independently certified discovery. They know its there, they have all the data to know if it is worth a test
They know how Talitha flowed in the updip 9.3 miles away
Older I can't argue with you as neither of us knows the flow rate for BFF, and I cant say 7 fails didn't happen. As for substantial, it says it is there, it flows and it belongs to 88E. Nothing you or I say changes that as we are all guessing, assuming, expectant, hopeful, doubtful, all depending on where your legs are dangling. Good luck regardless.
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 .
Taxi
That is classic 88e
Yes it is the first time 88e have flowed oil to surface, it in no way means it is a commercial flow
Substantial scale, by whose definition, compared to Longhorn, maybe, but wont fly in Alaska
Second successful flow. jeez 4 barrels, I guess its true the 4 barrels did successfully flow
Given 88e have never flowed oil before, anything is outstanding after 7 complete fails
As with the BFF having volume, is no help if it wont flow at an economic rate
The company is not lying but it's not the complete picture.
It says the first time... Wow... Panr have already done it so not a surprise. It says substantial scale...yes we know there is lots of oil under there but the key is how viable it is to get that oil out... The answer is not very viable due to the expense involved
'The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan pipeline system infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders'.
Did Scot not say that a company cannot lie about its assets? It says above a substantial discovery, successful flow, and the first time, so we are in new territory as a company. Can only get better imo.
Taxi
It is a classic wool pull
And a lot of the $3.1 billion in capital is Infrastructure charges .
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 is right for a major.
Older, I get that and I have said that I may in the future look at PANR, but only after they have arranged funding and any dilution has ended. I also note that 88E have said they will not just accept any partner, they are looking for a quality partner who is prepared to take Phoenix to the next level. This point has been mentioned more than once in previous releases.
Good luck with your position.
Taxi
That searching for a partner is a piece of fluff, anyone can say that and still claim it is true, even if you know there will be no realistic chance of securing a partner
Look over the fence, they have the real deal in assets, order of magnitude better, but chose to go alone, as we all know a partner that does not adequately value you, is liability
No searching involved.
Commencing a formal farm-out process to attract a high-quality new partner to fund the next stage of appraisal and development;
SSccss desperate semantics so WHEN they do announce the JV and it’s a MAJOR what price our SP then! IMHO DYOR
You'd hope if the results were actually that good that 88e wouldnt need to SEARCH for a JV partner... You'd hope they would receive offers of interest. See what I mean. Comprehension skills do come in useful in life.
If looking for a partner, then it must be commercial >>>>
"88 Energy Ltd - Alaska-focused oil exploration company - Announces successful flow test at Hickory-1 well in Phoenix Project, Alaska, citing light oil flow from two reservoirs. Says it will search for a farm-out partner to fund the next stage of development of Hickory-1."
T*sser, if you could only hear yourself, you have followed this company for 7 yrs. Let it go :)
Why are you here then.
I haven't got a short, I haven't got anything here as I saw the light some 6-7 years ago from the continual lies peddled. It's never moved out of the 1-2p range on sp in 4 years and there's 25.1bn shares in issue which they are no doubt about to increase, diluting shareholders even more. What don't you get from that? and then Sharebel has the audacity to call me a tosspot! I think I know who the tosspot is sharebel! and it's not me!
Posting non stop since midnight and still going with negative post naturally.
The short has gone wrong? The only problem is YOU