Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well DW does it again. Lures is all in and gives us very little back. Yes he has a farm out deal but no money for us after giving away 60% of the deal. Yes PO will pay for the drill and take most of the risk. I really hope DW has some better deals up his sleeve. I look for to the next RNS in September but I always get excited then get let down. Does anyone think we are going to ever make serious money out of 88e? Under 1p is ridiculous.
Good to finally have some certainty. We know now a drill will happen and a successful discovery will give us a substantial lift. My main unanswered question from the RNS is will the drill also test the HRZ. DW implied previously that any drill in the conventional will also test HRZ but there is no mention of this today.
Good evening all 88ers - delighted with the news today. We now have physical proof that a top tier investor has spent months and months in our data room and come to the conclusion that they can sell up a profitable venture elsewhere (dyor) in order to invest in us on the North Slope. We also know that DW can strike a tough bargain as he has exchanged the minimum for substantial back up and support from Premier Oil. These big boys do not give money away and they also look to negotiate hard. So what is there not to like? DW has delivered the FO, derisked and now working with a class act that converts exploration into production. The catch? Patience - pure and simple. Premier Oil will want to prove up the oil and they clearly believe our resource is going to be more profitable for them than where they were invested. All comes to those who wait - I still hold every share I ever bought and now my grip on them is tighter than ever. VGLA true 88ers!!
Sobek think that is the correct way to approach this issue, I am very interested in who we are partnering with and the way that they work with their partners (if that makes sense), they are an oil producer so will be affect by POO as all producers are, they also seem to have shorters just as most oil producers do.
Interesting that western fairway contains the leases that many posters complained about DW taking, including the ASRC leases, coupled with the Yukon leases that I hope we will be able to monetise and give us the working capital to progress our business.
Just managed to get all my toys back in the pram and decided to have a proper in-depth look at PMO; read their half annual report, etc. You know what? They are, or appear to be, a pretty good company with world assets far and wide. However, for the life of me, I will never understand how AIM operates, PMO shares up @10% today whilst ours are down 14%. I think our share price reflects a knee-jerk reaction to the news, as I believe a lot of holders were expecting a partnership with an oil major / producer, the way DW sold it to us (or was it just wishful speculation on our part). I would say PMO are a more suitable partner for us, given their level of exploration and exploitation of discovered assets, but the only worry is their net debt of US$2,151.2 million, although from what I can gather, they are making quite substantial in-roads to reduce this debt. 88E haven't quite "Gone with the wind" - yet, and after all, tomorrow is another day.
zoro9791 I have worked out where you got your moniker from - it's because you make everyone see z's
Hi Lefty,
Wife doing well thanks.
ASX will be interesting tonight, will they hold their own? Not for the feint of heart.
Zoro with respect you are a clot feel free to substitute the l and o.
in order to short 88e on spreadex you must also be long. what losses are you showing on your long and profit on your short?
good evening guz
hope your wife is winning her battle
i posted fibonacci support/resistence earlier basd on last 2 bagger spike 0.7 to 1.4p
0.92 has indeed been broken
next level is 0.7637
then 0.5755
then 0.3361
NOT PRIC2E PREDICTIONS
at those lower levels the smugness of the farmer, vernon et all would be wiped off their faces. may not have lost money but have wasted 4 years tieing up their money here for what? as so calledLTH and i will keep emphasing it the crass stupidity of being a long and strong LTH leaving vast sums of money on the table not once not twice but 3 times when price hit 4p and 3.8p
as for brommy not knowing much about PMO i can understand. hes been obseessed with only this share posting on a daily basis.
i made some good money and lost some 9 yrs ago trading it and have made modest gains shorting it ever since 2012 with a few losses going long on false hopes of a recovery.
if there are dissappointed shareholders in 88e there's a heck of a lot more over at PO.
Not the best of partners imo thats why the damp squip reaction by the market to the neews. my heart sank on learning it was PO .
2014-2019 CHART BELOW
https://www.barchart.com/stocks/quotes/PMO.LN/technical-chart?plot=CANDLE&volume=total&data=MO&density=X&pricesOn=1&asPctChange=0&logscale=0&indicators=EXPMA(9)&sym=PMO.LN&grid=1&height=500&studyheight=100
OPINION ON OUR FARMINEE FOR BALANCED DISCUSSION
https://www.barchart.com/stocks/quotes/PMO.LN/opinion
GLA
Ah Osco the kid who played the baby game ...
My post was directed at zoro9791 .
Don't come on here often to post, and seeing some of the immature remarks and deliberate goading of other folk by yourself justifies my stance I believe.
What is it I wonder that motivates inadequate people to wallow in someone else's anxieties and try to score points from it.
There seems to be some good opinions forthcoming the majority of the time, posted in a friendly non confrontational manner from mostly like minded people, some I would imagine who have possibly invested substantially in this share over the years only to be mildly disappointed by today's announcement.
For what it's worth, I always saw this share as a long term play over possibly 5-10 years, cheap to buy with bags of potential, and my view hasn't changed at all, in fact if anything it's been reinforced by today's development.
All shares are peaks and troughs, and this one will be no different. By all means have a different opinion than the majority...nothing wrong with that, but arrogance and rubbing salt into a wound is a dangerous think to do, it sometimes comes back to bite you on the bum.
Hi Mylow,your observation skills are impeccable,so why are you here.
What zoro you got a short on 88e and not sold out today. Hmm.
I guess its more a question about the culture of the company, been out most of the day so just not looked properly, thanks for responses.
Brom 16.19 - I was invested in PMO a several years ago, sold because they were making a big loss and I thought there were better investment options.
Can’t say I really know a huge amount about their current projects, but they looked to have turned things around now and making decent progress with profits.
False price reaction here today. Plenty of buying going on. It will retrace tomorrow. What's not to like 23m drill paid for only 30% given away. Remember most investors here came on board for hrz, the conventional is a bonus and looking to be one hell of a bonus. Just not quite yet but its coming.
Brom
They JV'D with shell in 98 for 3 yrs in Pakistan have a $531 million operating income and a net income of $133 million defo no slouches in the oil game. They have licences in 9 different countries and there UK based.
Sounds like a good plan to me
16:19 even if we trade 120M today that would be less than 2% of all shares and of course probably 40% plus of those will be buys.
The level of trading today doesn't really look like a big sell off. The bad news day with winx saw a drop of about 40% and 217M shares traded, no doubt a lot of those sells were from short term traders who'd bought in just for drill results.
Far less trades than that today, and really all the SP has done is fall back to the equivalent ASX price on their last trading day (1.6c).
What are Premier like as a partner I wonder, I had previously stated here that who ever the partner was I hoped that they would be technically competent and tenacious , still to read up on them properly are others invested there or even worked for, with them .
No probs Brom, apology accepted, I'm usually not a gloom and doom merchant - I'll smoke some happy baccy and see what tomorrow brings:-)
Sobek see my post at 16:08.
Brom always admired your posts and positive outlook, but are you referring to me? Course I'm invested (fairly heavily - and I mean ££££'s) in this share, why would I bother posting otherwise and as I said been here for over four years, hence the reason for my extreme disappointment in today's results.