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The interesting thing about 88 is nothing has changed for quite a while. Premier have decided to invest 23 million in a drill. DW turned up in the UK for a chat. and thats it. We have billions of barrels of oil under our land but dont yet know if we can get any of it to flow at commercial rates. As DW said 100% oil down there 50% chance of getting it out commercially.. in a nutshell thats it...... as they tell you from day one when you invest in shares...." the value of shares can go up as well as down"....or in our case down as well as up.... MMs may Manipulate, People have a wide range of thoughts and opinions especially here, Lots of reasearch also being done here and other places. none of that matters.. Prices of 2p 3p 4p up to spud is pure speculation based on history. Current sentiment may not be the same.. There are 2 possibilities with 2 very different RNSs 1) none commercial rate flow = price crash 2) Oil flowing at commercial rate = Lots of cash for all.. from where im sitting its as simple as that, anything else that happens is a bonus
PO are not renowned for taking huge risks. They have paid 23 Million as they know there is oil and it will be commercial viable. DW is playing it safe now after previous RNS errors.
Bothwell I understand a 50% chance in this game is a very good chance indeed so im happy with that Im sure Premier Oil will do a good job
Hi Lti, when you say PMO will do a good job, they are NOT the Operator. The Drill is in our domain.
Not sure what experience (recent) PMO have of Alaskan North Slope, sure Erik and Nordic Calista team will manage very nicely operationally, will be a lot of real time data being transmitted between all interested parties involved.
Jiddy I keep forgetting its our drill lol
This time we have complete control unlike Winx!
Did DW really say only 50% chance of commercial oil????
Last time he said that the SP took a hit as people bailed.
Complete control.... what like at icewine?
Jiddy was making the point that it was different to Winx!
Plus who do you think guided the Icewine drills? this is a very different situation, conventional drill and probably a lot less influence from Bex, hole has been positioned utilising 3D analysis (verified by PMO) and not to utilise all year round availability of gravel pad.
I assume you are actually aware that hole position for Winx was decision of OEL.
This still remains high risk and even if we find oil it has to flow. Current sp reflecting the risk as MM's don't want to take it very high to stop flow back from punters/profit takers.Remember the upside is limited as there is no depth to the market in this stock. Should we get a positive result expect to see wider spread and limited dealing sizes. Expect market will only quote for half a bar as they have no capacity to get hit in millions as investors take profits. Also any success on this well means we are probably many months away before any further action and hence upside movement on the sp will be limited.
If you don't like a 50% COS, then don't invest or sell!
Have PMO stumped up $23M for a dud? Not very likely is it?
14:26 think DW stated 50/50 to me that is it will work or it wont, there is no published calculated Commercial Chance of Success as far as I know, sure Premier's board demanded a CCOS when they agreed the FO, but we are not going to see that figure it seems.
From the first announcement of Charlie-1 nothing has changed, we know the oil is there, the flow test is necessary to prove it can flow commercially.
PMO & 88E both are clear, if others do not understand that is up to them :-)
muscat is 88E somehow unique? Seen plenty of AIM stocks fly up ( and down) , the MMs will just make the share illiquid when they no longer want to deal, they have done in the past and they will do it again in the future. IMHO
I think it might help 88e's cause with investors if some scientific calculations were shared with us. The SP reaction after the 50% COS talk is bound to have put some investors off
PMO putting up 23m is not alot in the over all scheme of things for them. What they need is reserves and further value even if it just left in the ground. This could well be a major company turn around for them and all those shorts could well get killed in the stampede to cover. Once again it has to flow.
15:09 may not be our gift, although we are operator PMO have the majority working interest.
Muscat I do not think anyone does not know the risks and DW has made that clear in all presentations as did PMO in their half year presentation when the FO and drill was announced.
Nothing has changed.
Jiddy, please don't play the "if you don't like the risk, sell, card".
You know full well what happened the last time he dropped the 50/50 bombshell at a presentation.
I'm just surprised he's said it again.
And you also know what has followed said presentations.
No wonder people are selling, it's called derisking.
Yes , the problem with these small stocks is the MM'S tend to be the smaller players and as they want the broker mandates they have to provide a market in the shares. Also many of them have limited capital which they cannot afford to tie up in stock ( shares) so they trade from a flat position . Hence the widen spread as we come into the close of trading each day as they don't want to get hit at the last minute. Would be good to see a larger player make a market and then you could move millions around on each deal.
15:02 Jiddy you know the game being played, SP down on reasonable and probably "50/50" buy sells, keep the bad news coming and might get in (or more) cheaper IMO. :-))
or might just annoy a few :-))
"One of the biggest drills in the World in 2020"
You either believe or you don't - why waste your time on here if you don't.
PMO funded, 3D Inversion, SEVEN stacked prospects.
De-risking what guzzler?
This is a completely different play, and you know it. I was at the Presentation, were you?
15:24 No one posts on these boards with out some reason, its up to reader to gauge what that reason may be.
No I wasn't there, it's why I asked if he said 50/50.
Its really not difficult to understand.