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15.07 Yes, doesn't seem long ago we were heading to the Championship after beating you guys.
Sorry for the off topic, I know football is below Ddraig. (Who would actually say that)
16.05 Yes Brom, however don’t Erik Opstad (ELKO) and APDC not have any credibility. Whilst I hope for all holders that the results are positive, not all indicators point to everything being rosy. It’s likely pointing to a mixed bag of results similar to Lima in my opinion.
The big question is how will the US react, if it has a picture of fluorescent cores it will most likely be positive lol.
16.05 - yes, the actual experts seem positive and this update doesn’t change that I think. Just a little more confirmatory evidence it’s still looking like, walking like and sounding like a duck…then…
if I recall correctly
just looked at the ANN and just wonder at some of the negative comments apparently made by a few, we are in a process that is governed to some degree by industry standards and protocols
http://w3.energistics.org/RP40/rp40.pdf
and we are bit part through the total process and probably the most important part of the analysis is yet to come.
" but also the nature of the source rock, enhancing understanding of the likely quality of the oil as
well as migration pathways, which is critical for understanding regional implications on prospectivity"
Bit early for a few to be apparently writing Peregrine off methinks.
I think back to the comments by Kevin Frank & Tom Stokes at DOG prior testing and think they may have a little more validity.
15.15 - usual update day…brings in the masses to try to cause disruption…ultimately changes nothing. Good to see a small blue day. Hopefully the full and final analysis will continue to be positive.
Hope you caught a trout…been plenty of kippers in here today…including a kipper that can see into the future.
@keefy01 & et al
I would agree with you on the part that a big major oiler has bought our tax credits ( if you call it credits, when the gov. Keep changing the goal posts and not keeping their promise to pay back) this would only benefit a huge oil company who can use the 85% credit and or defer it for a few years down the line when i expect carbon tax will increase as the world transitions in renewables and more bio & eco friendly alternatives. (Remember 1million plastic bottle per hour consumed world wide, 5% recycled. )
Dazzle
14.43 - sorry, references to football are beneath me…as are you.
Hi Rab79 13:48,
You final thoughts had already got me thinking along those lines. I found bits in the 88e 2018 FY Report & elsewhere.
The Alaskan Government has approved a tax credit of A$26.03 million as at 31 December 2018 (US$18.35 million).
This amount has been fair valued as at 31 December 2018 and recognised as an offset against Exploration & Evaluation capitalised and recognised above within Other Non-Current Assets. The amount paid will be directly applied against the outstanding loan with Brevet.
The ACES program provides up to 85% tax credit for eligible capital expenditure. All expenditure is audited and must be approved by the Alaskan Department of Revenue. The tax credit is available as either:
- A tax refund received in cash;
- A tax credit against the future production tax, thereby reducing the total production tax in any given year; or
- A transferrable certificate, subject to certain conditions being met.
The ACES program provides up to 85% tax credit for eligible capital expenditure. All expenditure is audited and must be approved by the Alaskan Department of Revenue. Once approved, the benefit can be exercised in one of the following forms:
Apply the credit against the production tax, hence reducing total production tax liability in a given year; or
For unused tax credit, apply a transferrable certificate. This certificate does not have an expiry date and can be sold to a new third party; or
For unused tax credit, apply to sell the tax credit to the Alaskan Department of Revenue
I would say 88e have played a blinder here as they could have been waiting until 2026 for payback.
Courtesy of Kalkin Media: Rationale behind the transaction
This transaction accelerates 88E’s time line for realising value from the Tax Credits, which the State of Alaska was less likely to pay in full until 2026 under present projections.
A bigger part of the funds from the sale shall be utilized for completely repaying 88E’s present outstanding debt of US$16.1 million. This outstanding debt concerns FCS Advisors, LLC and the repayment was due to mature on 30 December 2022, and FCS has waived early repayment penalties.
One Step at a Time Guys. Ducks in a Row & all that jazz
GLA keefy
14:33 just looked in as out early this morning fishing, been some fun and games I see.
:-)
Apologies to those that have to suffer Scottish football week in week out ;)
Hard luck, have been to your home ground a few times and always
thought they were a good side!
Guzzler, my team have just been relegated from Scottish League 2 so don't appreciate the reference!
Ddraig thinks he's the new Jiddy.
But Jiddy was Premier League status, Ddraig is a mere Scottish League 2 at best.
Of course you filter, Ddraig.....If all bad boys were filtered, without being challenged, their comments could bring down the entire company. We could all buy in at 0.003p....
12.21 - I see a lot of green bars too…the filter function saves me a lot of time
14.39 If they get the same contractors it’s $30M for three quarters of a drill.
Ddraig, the Oracle of bullshot. I like the entertainment value from him. Maybe his team of accountants could work out how much money will be needed for the forthcoming drilling season.
Now olderwiser under attack from DDraig, no surprise. Mr Balance himself shouting down any contrary opinions armed with his family’s degrees and mate who works in the oil industry. They may not bother him but he is pretty quick to respond them. Remember:
APDC leaving doesn’t matter
ELKO selling doesn’t matter
150% over budget doesn’t matter
His mate DW leaving doesn’t matter
Balance personified. Hope he doesn’t go looking for balanced debate on the OTC market, good luck with that one.
Must admit the Tax Credits deal is interesting must be something else in it for the purchaser, perhaps data sharing. Good luck to the less aggressive 88e holders out there.
12.21 - they don’t get to me at all, just like playing with them and pointing out their rubbish for what it is…guesswork at best, utter rubbish at worst
This always helps me get through the Derampers
W@@k, W@@k, Good guy, W@@k
Only so many folk will understand that but helps me not to react .:-)
Good, annoying derampers done for the latest update…rest of us can get on with things and look forward to US open. Not expecting fireworks but a stable but positive response will appreciated and in fairness probably the right course of action at the current time.
Mid to end of July will be interesting once they have all the analysis given the raw samples they managed to collect…see what the overall picture looks like and the forward plan…