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It must have taken you a long time to think that up Turkey boy now go and shove your munnie where the stuffing goes.
Calling people turkeys because they are invested here. Moron
@Scot 123
Spot-on re Sharebel. I couldn’t have put it better myself
[Part 2, continued from Part 1 below]
Phoenix: It is here that I observe most forum members harbour unrealistic expectations. I think it's a consensus view that it costs 88E circa US$25-30m to drill and flow test a well during a winter season(s). It takes external parties with deep-ish pockets to commit that type of capital, agreed? I'd suggest 88E shareholders think very hard about the following. Let's say there's an O&G company/wealthy Texas O&G individual/O&G specialist finance firm or fund who fancies having a swing in Alaska and has the capital to do so. Why would that external party opt to invest in the smaller in scale, downdip, lower classification, lower amount of data, questionable flow test result acreage v's the larger in scale, updip, higher classification, greater suite of data, declared commercial by management and Schlumberger acreage?
Being objective, I suppose the price to buy into the respective projects *could* be a key consideration? However, think about this further. In this scenario, a potential partner is looking at a cash investment of, say, US$25m to drill a well on 88E’s acreage. If an entity is looking to invest that kind of cash would they not wish to reduce the risk of failure *and* increase the upside risk if that were at all possible? I submit that an O&G entity would seek to partner with PANR ten times out of ten before thinking about partnering 88E.
Not because the potential partner doesn’t like the number ‘8’ or doesn’t fancy Ashley Gilbert. No, it’s simply because the scale and quality of PANR’s updip portion of the shared reservoirs are demonstrably superior by all geological measures – and the data incontrovertibly backs this up.
I challenge the forum to describe a realistic scenario where a party required to invest a minimum of US$25m would opt to partner 88E as opposed to PANR. I submit that not only is the absolute risk of failure too high for a potential partner to even consider farming in to Phoenix (following the flow test results) but that *any* potential farm in partner would opt to invest in PANR’s updip acreage over 88E’s downdip acreage in every single scenario I can envisage.
Delighted to read any thoughtful responses to the above. /end
26/4 @ 20:05 & 16:50
HandspringGuy and Brom - I found myself in agreement with both these posts. Absent a farm in deal which ushers in a drilling program, I agree with Brom that shooting the 2D seismic in Namibia is unlikely to be seen by the market as a viable catalyst for SP appreciation.
Brom - I note your sentence "Company has forecast net inflow of US$3M at Longbow, which I assume is after workover costs." Would you please point me towards this formal guidance? I don't ever wish to misinform so want to be clear on this matter. Also, is it safe to "assume" this figure of US$3m is *after* taking workover costs into account? Also, how have you accounted for 88E's share of the proposed drilling two new wells in H2'24? TIA.
Let's now examine logically the farm in prospects for 88E's Alaskan assets.
- Umiat: zero chance. It was discovered 70 or 80 years ago and there's a reason it's never been a viable project ever since. Combine that with the hesitance to exploit further the NPRA and the answer is obvious.
- Peregrine: zero chance. It's also stranded and the drill results from Merlin-1 and 2 are sufficiently underwhelming to make it an ultra low priority for anyone apart from Conoco, sometime in the 22nd century.
- Leonis: I've always said it looks interesting. Might Armstrong wish to have a look at acreage west of the Dalton? FWIW I reckon Leonis has the best chance of attracting a farm in partner. Any potential partner will have to provide all the capital, analysis, design work, etc, etc so it'll be more of a case what dilution 88E will face. Looking at the other players in Alaska and their proposed programs of work, I have difficulty seeing a well drilled at Leonis before the 25/26 winter season, at the earliest.
Icewine: mmaaaayyyybe if the gas pipeline is constructed it *might* be of interest to somebody, but not for *many* years if at all, IMHO. If PANR's Kodiak acreage moves into full production then that would perhaps help?
[Part 1, see above for Part 2]
Down 25% on ASX.
This board is more about point scoring with people you never met that it is about oil wells in Alaska..
Classic scaremongering tactic Sheldoncooper - you were better in the Big Bang Theory, but on here you go straight in the greenbin for very poor trolling attempt!!
13:41
Sharebel - more conspiracy theories from this prolific poster. To have averaged down such that his average is "around the placing level" defies mathematical probability. *If* we are to believe Sharebel's historical posts contain truthful descriptions of his holdings and seemingly continuous additions then Sharebel would have had to add many multiples of his pre-fundraise shareholding to bring his average anywhere close to these all time lows. Make of that what you will.
13:29
Sharebel posted: "...and trying to conflate 88E just because they have found huge commerical [sic] oil field discoveries like COPL is amateur deramping hour."
Let's me blunt here. 88E has not assessed their discoveries to be "commercial". Sharebel is lying to the forum. He has repeated this lie on numerous occasions since the flow test results were published, That makes Sharebel a fecund liar. I urge forum members to challenge Sharebel to cite a specific quotation where 88E management has stated the discoveries are "commercial". He will not be able to do so because there has been no such statement from the company. Fact.
I note Sharebel goes on to repeat the conspiracy nonsense about an organised shorting campaign and an Aussie short fund, blah, blah, blah. The fantastical musings of a shareholder who a) doesn't understand that 88E was running miles ahead of its fundamentals when he first invested and b) doesn't understand the fundamentals have been brought into view and a significant cohort of 88E holders have decided enough is enough and sold out.
“When the facts change, I change my mind. What do you do, sir?”
27/4 @ 18:26
Miner4 - I have only one username. Fact.
27/4 @ 17:31
Sharebel posted: ".... the SP which fell inexplicably fell back from 0.44p on our not one but two pieces of transformative good news so the massive naked short can cover." Sharebel once again refuses to recognise the huge speculative component which was contained within the mkt cap of the company when he first invested in the stock. Contrary to Sharebel's assertion that the fall in the share price is "inexplicable", I contend the fall is easily explained. The empirical data collected during the flow tests led the market to confront finally the effects of Dmax on these deeper parts of the shared stacked reservoirs. In turn, the speculative component of the mkt cap was punctured quite dramatically. Add in the requirement to raise cash to keep the company going and the SP has behaved perfectly logically.
Sharebel's false refrain that the flow data results are "two pieces of transformative good news" is correct apart from one word. Delete "good" and Sharebel has got it spot on.
Sharebel
You are like a turkey telling other turkeys that they should vote for Christmas three times per year, and to go out and buy stuffing at 0.5p, and then when its 0.17p that they should keep buying more because M&S says Christmas this year will be great and stuffing prices might get better (despite january sales approaching).
11,005 posts from you tells most people what they need to know. And the current shareprice tells most investors what the market thinks of 88e prospects and Hickory 1 results.
Its not even a deramp, its just the basic facts that the shareprice is unwinding day on day, even inspite of your protestations and increasingly erratic posts.
Carry on buying, sure, but it seems that many took the information that was freely given by various commentators and opted to get out while they could. Many lost money here based on a mixture of fluff and pump from posters such as yourself and less-than-transparent reporting of results from Hickory.
But anyway, you continue promoting Christmas and buying stuffing and when jingle bells starts playing we can chat again and see if youve noticed the roast potatoes and brussels sprouts being prepped, or how many feathers you have left. The sensible turkeys have already moved to places that dont celebrate christmas in the meantime.
MunnieMoron IF you had the slightest iota of what the ‘market’ is doing you’d be dangerous! Thank god you’re a simple shorting spreader with a few hundred beer tokens at stake! I have welcomed the current opportunity to buy more with my average now sitting comfortably in the placing price level! Only way is up from here as placing forward sold weeks ago, shares shorted and here we are! So you never answered my question where o where did all that stock come from last week? It sure as hell wasn’t from pi’s! Dribs and drabs left of the forward selling as they officially don’t come to market until next week…and market will have us believe the charade when its actually now stock needed for the short cover so no market awash with stock. Placing stock is long gone!
The best thing that the company should do is to bang out one positive RNS after the other and an interview and that’s easy now as we enter a rich news period anyway! Then watch the naked short Oz fund get squeezed out and hey presto SP rises and we are the best thing since sliced bread once again and the herd gallop on in! That is how it is done! IMHO DYOR
Sheldon you have clearly no comprehension of what went on at COPL and trying to conflate 88E just because they have found huge commerical oil field discoveries like COPL is amateur deramping hour. If you have even 1% comprehension of the ‘asset grab’ situation there you would know that COPL is a whole different ball game, a one off situation which is nothing to do with the production of oil (one eg producing without injecting currently circa 30k BBLS per month for eg ) the current court situation there is being challenged by even BP! There’s eg sophisticated investors, HNWI shareholders in CAG challenging the company for a huge variety of reasons! And reasons also includes the fund placees shorting the company repeatedly which has now been revealed - that may be a lesson any naked shorts or fund shorts here may like to take on board? It also involves a hell of a lot more besides even! Hence a top lawyer led class action group! So….next!! IMHO DYOR
Copl also apparently had a billion barrels of oil. There was talk of farm in . They had many placings . Share forum basically hounded out the derampers . Share price went from 35p to 0.0021. There’s talk of a court case . Exploration companies are all similar with rare exceptions. Many sources warn against exploration companies . I like many chose to ignore in the hope of multi bagging. I live to fight another day but have moved on to Bitcoin and Bitcoin miners to try and recoup huge losses from COPL, Cineworld , McColls , Bahamas petroleum. Cursed
When a poster who joins only 1 month ago to do nothing but put down 88 Energy and champion PANR, it is pretty clear of their agenda. Pretty much constant “Strong Sell” posts since then with continued regurgitation of Scott’s rantings.
MT’s first 88e post with “Vertical hole single frac, downdip, increased DMax”. Either this person is an alias of Scott…or they are incapable of thinking for themselves. Either way, their opinion carries zero weight and should be ignored.
Sharebel
Those advising caution from 0.5p have been shown to be completely correct in their assertion that the SP would rapidly tumble.
Conversely, even taking any of your posts on 88e at random from the last few weeks one can deduce quite easily that you have less than no idea what you are talking about.
Example:
--
Sharebel
Posted in: 88E
Posts: 11,003
Price: 0.32
Strong Buy
News is so close!!
12 Apr 2024 07:43
Bought more yesterday a quick 10k top up and if it is manipulated back further will buy some more! Getting rather exciting here that tweet was a teaser and news could more than likely drop intraday! I hope so to knock the manipulative MM off guard! Bags to be had here and fantastic oversold entry price right now but for how much longer? IMHO DYOR GLA
--
Bags to be had...? Did you mean bags to be held?
Its just nonsensical spam you are promoting.
The market has already made its mind up, anyway. And that decision is reflected in the sell off thats happened and continues to happen.
DYOR.
I will not be listening to MunnieMoron honestly why on earth would anyone! 47 posts on 88e all negative no other stocks except 5 on PANR…not invested even. On a Saturday he turns up to impart his agenda laden wisdom. We are at an all time low and have funding for 12 months with 2 new huge oil discoveries… so where do we go from here? Logically upwards. Placing stock forward sold over last few weeks, shorted to bring down the SP which fell inexplicably fell back from 44 on our not one but two pieces of transformative good news so the massive naked short can cover. Ah MunnieMoron all things considered I think your saviour services are not needed! IMHO DYOR
...and you can hear the sound of reality setting in here that 88e have once again destroyed shareholder value. All time lows and 3.5 billion new shares about to hit the register.
In total, 28.5 *billion* shares about to be in circulation. That must be an AIM record?
Must ask the question why management did not partake in the capital raise? Rarely a good indicator.
Genuinely am sorry for anyone who invested in 88 and lost money, especially for those who were taken in by the pumpers on these boards. Many tried to help guide novices over the past few weeks that the Hickory results would ultimately tank the SP and a capital raise would be forthcoming. Quite a few listened and got out, so well done to those few.
This is useful as a summary to help balance the issue at hand since many keep making comparisons betweeen 88e and PANR, understandably.
https://www.reddit.com/r/PantheonResourcesPANR/s/amvgPtaAUp
I agree, Brombarb
I don’t think it will move much from current price unless we get amazing drill results and/or a decent farm-out partnership
15:58
In my opinion SP could just meander at current level +- a few percent for the forseeable future with only the possibility of news of farm outs at Phoenix or Leonis to give a fillip.
PEL93 Namibia 2D will not be a catalyst, Longhorn also will not impact on SP.
As for "fully funded " we have post flow test costs from Phoenix, we also have stage payments at PEL93 to manage.
Company has forecast net inflow of US$3M at Longbow, which I assume is after workover costs.
So we should have funds to cover rents and planned activity but that is all.
Overview of Developments. I’ve written an update on PANR in response to questions being asked.
https://www.reddit.com/r/PantheonResourcesPANR/s/amvgPtaAUp
Posting it here for your info. As it pencils out the current opportunity for State backing of O&G companies on the N/slope.
My Discord, if you join is not a place for PANRv88e infighting and any such posts will result in banning.
But there is a link at the bottom of article. So if you find yourself in Flights investment server [FIS] play nicely.
All the best
Flight ✈️
Exactly how much are you losing in your large holding Sharebel?? 🤡😂😂
Munniemoans ‘offsetting’ lol so what imaginary price did these SOPHs buy at…I am waiting? They would not be rich SOPH’s if they held onto their positions failing to sell when the price rose into 0.44’s on 1st discovey or indeed at any point much higher than this 12 month ATL. I am all ears Munnie so torx to me! IMHO DYOR
Hsg.
Is it speculation that 88e are down 61% on the year, 40% on the month, and 23% down in the last week on the 'successful' drills. And is it speculation that despite 3 rns to try and get the price up 88 did a 40% discount placing at company lows at 0.16p that no director participated in to sophs and insties that are being sold into the market as we speak, as evidenced by the enormous below mid point reported late prints daily...
No, its not specualtion. Unfortunately its reality.
The two are not the same.
1) 88E has had 2 successful drills and we are still waiting on results.
2) Texas is ticking along nicely
3) Exciting new prospects in Namibia
4) Fully-funded for at least a year
…everything else is just speculation
…in your opinion
The only thing you can be sure of is Brombard will keep ramping and loosing money, spouted his drivel when the SP was 3p about and the other surety is the SP will keep falling on never ending dilution until the BOD gets Sussed, money then runs out and the administrators execute the receiverships.