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I am still stunned by this. I have had a rant on the BB, but it was pointless. Certainly didn't help me. I would like to ask fellow LTHs for opinions. I would genuinely like a response. The vitriol and schadenfreude evident in the last few days made me hesitate. I have read/researched the comments on gas condensate/HRZ and comments suggesting the late PB had high hopes in this area.
Is this realistic for us??
Assuming it is, what is the timescale??
How would it work??
Given his track record, is DW the person we need? 0 out of 4 so far.
BeverleyBeaver. I genuinely feel for you. We are two of many, but it doesn't help one bit. I am hoping our fellow LTHs can give me/us some info which makes the situation less horrific.
Thank you in advance for any input. Incidentally, if anyone wants to make vicious/unhelpful remarks, it is your time you are wasting!!
Wait and see what cores reveal the gas is a potential bonus too the land leases are of value too on there own a over reaction on current SP
It is a shame but it’s exploration hopefully some good news in coming weeks GLA
I'm with you Kat. Something positive can still come from all this negativity
Seevee, the trolls will have disappeared in a few days after giving it their best shot.
The ANN was good and bad, although investors saw it as the death knell for the Company. Like everyone, who has/had some skin in this particular game, I am bitterly disappointed, but a large condensate discovery and the HRZ will keep me interested for the time being. I am sure that DW wants the discovery evaluated for Commerciality ASAP. The results of the HRZ core samples will be available in a few months.
I am in no hurry to sell my holding at this price, although I cannot predict what the future holds now.
GLTA genuine holders - I am sorry for your losses!
Seevee, the trolls will have disappeared in a few days after giving it their best shot.
The ANN was good and bad, although investors saw it as the death knell for the Company. Like everyone, who has/had some skin in this particular game, I am bitterly disappointed, but a large condensate discovery and the HRZ will keep me interested for the time being. I am sure that DW wants the discovery evaluated for Commerciality ASAP. The results of the HRZ core samples will be available in a few months.
I am in no hurry to sell my holding at this price, although I cannot predict what the future holds now.
GLTA genuine holders - I am sorry for your losses!
I've doubled down, cut my average in half and will place these in the 'bottom draw' for the next few months.
The hysteria on here today is comical. And the vitriol of the past few days horrible.
We aren't out of cash and there are things in the pipeline (granted not currently crude oil!). Can we actually realise we did find a large discovery of gas???? And there is Condensate production on the Northern Slope already.
Yes DW maybe needs performance based renumeration from now on. Yes the result wasn't what anyone wanted. But how much did the drill cost 88e - $0 - PMO paid for it.
This is an exploration company and HIGH RISK/HIGH LOSS/HIGH GAIN.
Rant over ;-) Happy Easter everyone, keep well.
Jiddy a good announcement? 20 percent of stock traded in one day , PMO done a runner. Clearly no Commercial Oil for extraction. AGM = we have a bit of cash... Yukon farm 2021....HRZ maybe someone, somehow, somewhere
What didnt he say ?? oh yes Cash raise because we dont need it today...Be Postive!!! we will however need it before Yukon 2021
Been looking back at the Icewine 1 newsflow for an idea of when we might get some HRZ news. Drilling there finished 24 Dec 15, with first update 20 Jan 16, going though to April 16 for a revised resource statement.
The Charlie 1 RNS has given virtually no detail on the HRZ when compared to Icewine 1, or even compared to the conventional targets at Charlie 1. i.e. no indication of gas readings or hydrocarbon shows. But then this isn't what PMO paid for, so perhaps not surprising there's no detail yet.
So we're still non the wiser as to what the HRZ looks like at this location, but DWs guidance of analysis over the next few months fits with previous analysis for HRZ samples.
In my opinion. There is something in the HRZ. But with oil prices this low its not worth the risks at the moment. However in exploration the job is to find the reserves then sell to producers. I expect that we will carry on with testing and valuation another crack at HRZ is likely as where there is bitumen and gas there is generally oil hanging about.... Just gotta find it.. My opinion only..
Could be deliberate, to help PMO on there way.
Interesting if 88 somehow get back to finishing PBs work, worth keeping an eye on imo.
Would be ironic if its the HRZ results from Charlie1 that end up saving us after leaving it parked to one side while we've been exploring for conventional. Won't make any difference to this BB though, there'll still be people calling for DWs head for not going straight for Icewine 3 and wasting money on conventional, while others will say he's played a blinder by getting PMO to pay for it. lol
Basinski led us to the HRZ and his research suggested there were 3.6,bn barrels therein. An independent company confirmed a large scale oil presence, but pitched it at around 1bn. There was no mention of conventional oil for 88e at that point. Eagle Ford took around 100 attempts to make their HRZ flow. We've so far only tickled Icewine. Nothing about the shale has changed. We're in discussions about a farmout. It was the HRZ that led many LTHs to invest. It's not gone away.
My first reply or post on 88e although I have been invested in this company on and off for a few years now. I was not surprised by the results or the reaction of what can only be described as horrible people who love to rub salt in the wounds of those who are sat on paper losses. The only reason I didn't sell on the Mon afternoon was because I was home schooling my 5 year old son and simply forgot. I just had a gut feeling it wouldn't be good news. However, I am really not sweating it at all.
If they have to raise cash again, the PI will open their wallets and invest with the sheer hope of "one day" getting a huge return. Is that not why most (if not all) of us are invested here? It will/could be diluted, but it will crawl back eventually when the dust settles and hopefully a new plan is put in place.
Being utterly honest, I lost a decent amount in Sirius recently because I simply got greedy and invested more than I should of (biggest, costly and yet valuable lesson I have ever learnt in regards to investment). Now my portfolio is well balance with solid earning companies and a few "punts" such as 88e. As much as I feel sorry for those who have (on paper) lost hefty sums, try to stay positive because it ain't over until it is over.
A global recession is coming. Anyone who says otherwise is deluded. COVID 19 is going to be around for quite a while and this is only wave one, unfortunately, more will follow. Horrible times but this will be the time to get invested in the right companies and make money. Whatever has been lost here can be made elsewhere, so my advice is to emotionally detach yourself from this (as hard as it may be as I have been there with Sirius) and get researching into a spread of solid companies and wait for the s h i t e to hit the fan and get it when everyone else is panic selling out.
Spot on Islayman at 16.23 and it looks as though Deltalo and Kip are on the same page. I'm still here and will be until I can be sure Paul Basinski got it all wrong. I've invested because of my belief in his skill and expertise and I hope we will find that still succeeds. Admittedly we need the Phoenix to rise but why not - the oil is still there so let's go hunt it out!!! vG
I have said a few times and don't want to become boring (excuse the pun) that Icewine 2 had pressure and bitumen (hard/heavy Hydro carbon) Charlie 1 has pressure and gas(light Hydro carbon+) ... In between must be... Oil imo
17:03
" I was not surprised by the results or the reaction of what can only be described as horrible people who love to rub salt in the wounds of those who are sat on paper losses."
I agree.
Lots of not very pleasant people out there who can be very brave on line and also more than a few agendas.
You sound well balanced like your portfolio, best of luck and stay safe.
21:09 dougiek lets hope life works like that :-)
Respect where it’s due Bromb, but it’s all about the money, and DW’s chasing shadows unfortunately!!