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Can you provide a ( revised ) timescale of when we can expect to see farm in or out agreements with the various projects particularly the pursuance of IW2 Horizontal?
Sniffy you knew the risk when we went back into IW2 that it would not work out. If you ignored that then more fool you, I am not sure DW could have done more and one thing is sure he would have much rather it flowed. If he had not put in place the conventional, the new JV where do think the SP would be now, a lot lower. Has he made mistakes, I expect so, non of us are perfect but he continues to work hard for us. JV tend to take time if you want the right results I am sure he could get a partner tomorrow if he wanted but he would end up giving up tons. You are another one after a quick profit with zero patience which oil and gas exploration definitely need.
No easy
a non investor has decided that the lack of response is due to me.... I am amazing, naming me twice is justified:))
I am willing to send questions to Dw. i have only asked they be framed politely.
For those who wish to write to Dw direct they can and the e-mail is
dwall@88energy.com
the purpose of the Q & A is to get a public record on archive that may assist those who are considering investing, thinking about holding or looking for reason to sell up and move on.
Perhaos an interim summary of the Q & A this far centers around what is it going to take to get the HRZ to give up its oil, many very good and insightful questions.
Finance around farm out for both conventional and HRZ as well as ongoing funding in event that such a farm out does not come through in time.
Plenty of room for more questions, which if they are of the standard thus far collated is going to be of immense help. Reassuring to see so many well researched Pi
we have 29 great questions on the LSE and more coming in on HC
Mike x2 - apology accepted - please don't underrate your self, you're posts are extremely knowledgeable interesting and informative - please keep them up for us who know in our brains ( not our hearts or guts) from our limited but sensible research that this is a valuable investment.Different strokes for different folks. As for those who enjoy spouting hot air just a waste of quality posting. Cheers Banjo
Dave win
Do you have a question for a published Q & A?, or would you prefer to send privately? if the latter then dwall@88energy.com
Spot on @smiffy
Some on here seem to think that only their opinion is relevant and that those who are invested here, who have seen the SP falter and the BOD not deliver time and again, are only trolls.
If I could afford to take the loss then I would be out today but like many I bought in AFTER DOING MY RESEARCH and hoped that this would pan out.
So far theyve delivered nothing, yet there are many on here who like to polish a turd and put a positive spin on everything, when the truth is many shareholders are sitting on large losses and have lost all faith in the BOD to deliver on any further optimistic musings.
We need change at the top and we need some substance rather than spin to our operation
smiffy another post with nothing to offer
I personally place a lot more faith in the maturity of the adults on this Bb than you do. You invited me to place you on ignore, its done
banjo
you are not too shy
it was a tongue in cheek reference to this Bb being over run in the last two days many more than eager to tell us how it should be. Now when there is an opportunity to get Dw to speak direct it seems there is a lack of enthusiasm,
So please accept my apologies.
Ps extra virgin olive oil for cooking is my only oily speciality.
Quite simply they either lost connection with the reservoir or never had it in the first place Either way our beloved BoD have left it and us in limbo for whatever reason Looks like the only way to really know is whether we get a good farm out based on well info already gathered including the ‘we know we missed but what we found is good’ Or we know why The only other I can think of is ‘we know why it stoped connecting’ All imo And waiting on the quality of any farm out-in whmflp
Mikex2 - "those too shy to comment " is unnecessary commentary especially from you. There are holders similar to myself who are reading, and learning from the BB without the need and/ or the technical knowledge to adequately add to the commentary. You don't know me personally but professionally I'd be smashed if I was a shy character. Thanks for facilitating this QA with Spin but careful with your reply posts to the many of us who aren't up to your speed regards the intracasies of junior oilers. Cheers Banjo
Yogurt and Banjo plus those too shy to comment
I can only collate what is asked and provide the answers given. The only form of editorial I have provided is that the best answers come from the best questions and please keep it polite.
Dw will as he has done before answer a question. Should the question be subject to ASX/AIM rules and he cannot answer he will state so.
I am not sure if I have answered your concerns, I have tried.! Should any of the answers seem not to hit the point thenwe can see at that time what needs to be done if anything.
Trolls and derampers will operate in their interests no matter what is stated, so will the bloody minded who think they can run 88e better than the MD.
We just have to bear them, they are part of the internet.
Sky beacon your question is in
Moneyhawk you are in
Yogurt
the proof in the pudding will be in the Q & A
there is a fine line as neither me or spinefx want to be accuse of editing, either the question or the answer. i dropped one of my questions as i believed it was asked better by another
Mikemike, many thanks for offering to collate some questions for us. I have three to offer up; 1. Would the next stage to prove up the hrz be a farm out even if we had achieved a good flow result from Icewine2? 2. Is the plan for the farm out mentioned just for Icewine2H, or is an option for the whole HRZ being considered? 3. Is conventional in the farm out an option, or will we be looking to prove that up on own our or via a separate farm out?
Yoghurt's request is the especially highly relevant and important. Mike x2 please put it to DW at the top of the QA. Cheers Banjo
MikeMike
Thank you for organising these Q&As.
I have been at a loss to understand why the frac fluid should not have continued to be expelled, given that the weight of fluid in the wellbore would have exerted a downward pressure of c. 5000 psi whereas the pressure in the surrounding reservoir had been calculated as c. 9000 psi.
May I offer a few observations - to be shot down or otherwise?
The pressure of rock strata would normally act downwards, while in liquids or gases pressure can be transmitted laterally. If pressure of 9000 psi acts on water in connection with the wellbore, it should drive it towards the foot of the wellbore where the pressure is lower, and there being no obstructions to entering the wellbore, on towards the surface.
So - it is not difficult to understand the explanation "no connection" but the critical question is "why no connection?".
Could the answer lie in the rock strata themselves? If there were an arch effect (imagine a ceiling of a cave), the expected downward pressure would be diverted away to the sides. Perhaps the well was sunk in an unfortunate place? If there is any validity in this theory, a horizontal well would stand a far greater chance of success, because any "arch" could cover only a limited area.
When the questions are put to DW, can we please try to be explicit and ask each question in isolation?
Often excellent pertinent questions are asked but can be bundled up with several other well made points and looser queries and Management can either intentionally or unintentionally ignore the key point whilst answering some other aspect.
I'm not necessarily targeting DW for avoidance here, if he can't answer a certain question he can defer for good reason & we all respect what he needs to keep close to his chest....but what we don't want is any deramping ability in any following quiet period based on any ambiguity in the responses post the Q&A.
Come on guys and gals stop being shy. 23 good questions so far
Dw has agreed to a new Q & A now the Q2 report is issued. I will be happy to collate the questions for lse and Spinefx will do the same for HC
If you want a great answer ask a great question in the best way you can
I will not collate any rude questions, you can send them on your own to
dwall@88energy.com
Every Q & A this far has been an excellent terms of reference. More of the same would be welcome.
Thank you
Deadline saturday 21/07 12:00 mid day
after all the posts of recent days including mine, I would expect a tsunami
Still NO tsunami, perhaps some have picked up their toys and taken a hike?
paul 666 you are in
ty to the following your questions are in
broms. correction
pat 2014
swingy. Dw will answer but he may say that he cannot divulge at this time etc
georgel 61. You question on this is better then mine, so mine is removed.
Pat I suggest you look at answers already given to that Q in the last Q & A session October last year, then if you want refer to the rules of ASX and AIM, would imagine at the moment we are very much in a "closed" period.
Could you ask DW would he be prepared to put more of his own cash in 88e by buying more shares at today’s price .. And if so why isn’t he buying more ?
correction
There are a number of other players on the North Slope who are basically inactive ( or at least appear to be) mainly due to financial limitations, so DO you foresee more "consortium" style partnerships to get things moving, particularly as DOG seems to be finding some teeth where they perceive leases are just being sat on.
Are we now actively seeking a partner(s) to drill Yukon Gold after the serendipitous achievement of 3D acquisition being complete before we actually paid the balance of the leases and possibly 12 months ahead of where we expected in December 17.
Will shareholders be made privy to 3d interpretations once finalised?