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Agreed.
Although it becomes somewhat challenging when the company's own actions repeatedly fail to meet market expectations.
In that case: detailed analysis of why expectations should be corrected are entirely acceptable discussion points.
Read into that whatever you like. I say that as an 88e investor since about 2015-ish.
And as if by magic... a 30,000,000 after hours print below mid. *sell*
As predicted.
Win, Lose or Draw....if i win Great, if i draw Great, if i lose Great because it’s money that I won anyway🤔😂💰💰💰💰💰😂😂😂😂
For a while now you can sell for more than you can buy! The real spread is wafer thin but if you want large amounts they will not live quote and take it via NT like they are trying to discourage buyers. All forward sold as I maintain and MM want stock but afraid to mark it up as once it moves people will be on it. If there was so much placing stock sloshing around why make it difficult to buy large quantities?
Just for MunnieMoans the point went over your head that was placing stock being sold into the market yesterday last of - and underpinning that it was forward sold over last weeks. I didn’t say it was a buy but the opposite. 127 million shares dropped in that’s no pi it was a placee! If you are so naive to think the placing stock drops in next week then I have no words for you except perhaps open a post office savings account instead! IMHO DYOR
Read the context....
Win, Lose or Draw....if i win Great, if i draw Great, if i lose, its money i had already written off when i invested. Life is for living, to be adventurous, to explore, to learn. Sitting in a dark room being too scared of the What Ifs is a boring life!!
:) :) :)
Wow... new lows. Not just in the SP (which is where all of the level-headed commentators expected it to be after they saw through the multiple fluffed up rns statements) but also in the fact that people are still trying to paint the flow tests as successful when the entire market has sold it off due to the flow being abysmal. 4 barrels, and then they pulled the plug. 70% frac fluid return and 4 barrels of oil... These are undisputable facts. Its worse than bad. Which is a shame, but still remains a fact.
Then as expected just like clockwork a 40% discount placing for a few million quid now being heavily sold into the market and a few underwater PIs trying to convince themselves this is the opportunity of a lifetime.
The SP tells the story. It will almost certainly continue to drop. There is no chance imo at all that a new well is drilled in Alaska by 88e. Zero. What is very likely is a ready supply of hopium and more placings and a consolidation before year end. 88 will likely bait and switch to surveys on other projects. Alaska is a dud as far as Hickory (and the wider market) was concerned.
Anyway, keep smoking the hopium, if that is your thing. One thing everyone can agree on is that 88e will keep supplying it readily to Sharegerbils and the like.
Of course, more after hours prints for sells of 25m shares and more will show up today. Wait and see.
Good luck if you stay in but again, all were warned repeatedly but clearly most ignored the sage advice offered by many. Some sold and are no doubt very happy they did.
"Life is for averaging down" Tragic
Anyone who basis their financial investment decisions on some randoms opinion, on a chat site, maybe shouldn’t be investing .. jus sayin’..
GLA
You could say that it does not matter how long the flow test ran for because it doesnt prove that the flow happened when you were not running it. This is anti science. Unless you are talking about quantum physics - which we are not.
Spinefx
Interesting analogy. So I have a couple of relative questions on this experiment:
Let’s say I leave my water tap on for 24 hours and do in fact get 7000 litres of water; firstly, where do I put those 7000 litres of water? 🤔
Secondly, how do I know that on hour 25 I won’t get air for the next 24 hours? Should I keep the tap running for 2 days just to be sure? Or 3 days? Maybe a week? Now I have about 48 tons of water to store. Should I continue because that tap could run dry for the next 24 hours, right?
…or do I use an educated assumption that the flow rate will continue as fairly constant after those initial 4 hours using industry knowledge and advice from the water company (and my helpful neighbor who checked his tap last week)…
I have faith in this company, so far the news has been positive and the company must be given time to extrapolate the data and continue with its operations. The placing will enable them to to this, now being fully funded for next 12 months.
The share price was always going to dip and be held down on news of a placing, but given time and with more good news coming out then the sp will recover.
Just averaged down from .36 to .27 and happy to wait it out, LTH investor so what will be will be. Win, Lose or draw.....life is for living!!
Olderwiser,
My point is that anything you or I, or anyone else, writes in this forum is just opinion (and should be considered so).
However, anything published in an RNS has to be factual.
Yes, you were correct about the cash raise (didn’t need a crystal ball for that one). But you were also wrong about the flare…and the oil/gas ratio.
When 88e published that they were fully funded, they were fully funded. I have $100 currently in my pocket. It probably won’t be there 6 months from now. You can’t call me a liar in October when my pockets contain a different amount because things change over time.
Also, you can’t have an opinion and state it as fact, especially when your opinion differs from the information published in a legal document.
In answer to your question, I will gladly listen to your opinion (at least a few times) but I will base my opinion on published evidence and facts, not on opinions in a chatroom.
With the implications from the 88e drill becoming daily more apparently, and with Hobbo yet to reveal any "non dilutory" finance, the Panr share price will continue to head for the abyss
It's an analogy to demonstrate that you can draw solid conclusions from partial sets of data. It's appropriate because this is how 88e came to conclusion and how every single other flow test ever came to conclusions to some extent or another.
An interpretation that states the flow rate can only be 4 barrels is in fact cherry picking one piece of data and ignoring everything else. Clearly the flow rate is more than 4.
I can assure you that for the analogy I used that even if I had to call the water company my water flow would be far more than 1 litre a day as an average output.
Skip,
Why didn't you leave the tap on for the 24hrs to get a day rate? You have the time, you've taken 4 days off work to get an accurate measurement.
Not sure about your plumbing but you might get 1 litre in 12 sec then turn the tap off, ring your utility company and report that you are seeing 7200 litres/day
You then turn the tap back on and only get air for the rest of the day but for that 12 sec window you saw a rate equivalent to 7200 litres/day.
In actuality you have 1 litre per day in your jug.
No that's not a good analogy.
This is a better analogy:
Go home and turn your water off at the mains. Leave it for a few hours.
Turn the mains back on.
Now turn on your tap and see what happens. After a small period of time the water flows but it didnt for the full period.
Now time how long it takes to fill a one litre bottle of water and turn off the tap.
Is your flow rate 1 litre of water a day or is the daily flow rate the 24 hours divided by the time it took to fill your 1 litre bottle of water?
Whilst this analogy is somewhat trite it is at least relevant and demonstrates how you extrapolate valid outcomes from limited data.
Older,
It's a bit like saying, because Usain Bolt can achieve a running rate of 44.72 km/h, therefore he can run a marathon in less than an hour.
Fine print: Running rate measured over 100m.
Skippy
I dont know where to go next, they flowed 4 barrels, in the 16hrs they flowed oil, you are arguing this is not the key data
Once flow is sustainable, How much oil a well flows over time is the most meaningful data point in any flow test.
Peaks and troughs are just data noise, sustained average flow is what counts
In order to get it going we need some fantastic news : it could be about- Longhorne/ Namibia or revised data for Hickory- 1. 88E is not just about Hickory, it has its fingers in other projects as well. Now the funding is sorted , time is needed and patience might pay off eventually. It’s not going to happen tomorrow or next week, which all of the investors would have liked. But it’s AIM market: invest only what one can afford to lose or patience might pay off one day. Good luck to me and all in the waiting of good news in the future!🤞🏼😎💊
6bopd is also not the outcome from the data.
It's a valid point.
But blimey - it is SOOOOO obvious these people are not real but actors with a very very clear purpose. They appear on all of the message boards. Often you can identify very clear language and syntax that demonstrates an individual with many accounts. This one is very familiar.
Skippy
4 barrels is the actual flow collected over the 16 hours in which oil was flowing, you can extrapolate that out to 6bopd, it is still poor
No they stated quite clearly what the flow rate was based on the data and valid assumptions. You just picked 4 conveniently as a position in the data that suits your objective and bias. It is not the outcome of the data.
Skippy you are arguing that, the purpose of the flow test, was not to produce a viable flow
88es favorite pump site next investors even put out their expectations, under 50 was the bear case, which makes 4 pretty sick
Yes that's right Olderwiser. And so this - 'The SMD-B flow test was concluded with sufficient information for the next steps'
Any form of testing requires extrapolating results from a dataset. It is never to run permanent sustainable outcomes. You can debunk any test outcome with your approach.
As you put it - the viability can be calculated!