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Looking through an older 88e presentation, would suggest the area of interest was right in the middle of the Primary target. Slightly worried! Regards,
Remember people were paying 3 times the current SP on Thursday.
So the upside on good news is significantly higher than the downside and many know that.
So the general consensus is as per the rns and RMP presentation, they’ve drilled through an area of interest which contains potentially too much water, Thus they have been drilling through targets 4 & 5 over the w/e? Anyone confirm? Regards,
At the rate they were going it could be sooner than that unless something slows them down.
Torok results possibly by wed/thurs also.
I suspect that it’s too late to worry about that with news likely tonight fate likely to be decided before we wake in the morning.
They could also lose a further 50%, that’s the risk here. Sensible people may look to leverage against 88E given they have further drills, whereas RMP are fairly reliant on one or two small opportunities short term
Not sure why Seabee is considered to be the one where oil was expected - there is no info that says that - there are two primary targets - 4 and 5. We are not there yet - RNS says clearly we have hit A TARGET - not 4 or 5. not seabee. SO the 25-35 % is about 4 and 5. We are still waiting.
The oil find is above nanusuk 4 and 5,and the RNS if they acted quickly was dated 28th Feb,???
Anyone buying in yesterday could make 100% in a week. 'If you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you, But make allowance for their doubting too'
The way these smaller companies ( specifically the lines of rmp and rrl) make money is to find a prospect they can hype up and then raise further funds on the hyped price - ur best best with this is wait for the sub 1p and then buy in - wait for 2 to 3 years and sell in the next hype job (4p) ish - not quick money but you will make yourself 100% per year
Oh and by the way horizontal drilling and hydraulic fracturing from shale oil is right up 88 Energy's bag!!
Alaska has seen mounting excitement over new major oil discoveries in the Nanushuk and Torok formations in the more westerly region of the North Slope. On April 21 Josef Chmielowski, a geoscientist with Alaska’s Division of Oil and Gas, reviewed what is known publicly about these finds and their significance in terms of continuing exploration. In part, Chmielowski’s insights come from modern seismic data, made public as a result of Alaska’s tax credit system and processed by the division. In particular the Nanuq South 3-D survey, released to the public in December, provides fascinating insights into the Nanushuk/Torok play. Read article in
http://www.petroleumnews.com/pntruncate/824039934.shtml
If they don’t hit oil next week with all those other hits in the area ,then it’s all over for this company .
http://redemperorresources.com/alaska-north-slope-presentation-november-2018/
Anyone who thinks it’s game over is foolish Torok could save the day then there’s the fact RMP still has cash after this drill and could drill again.
If a good result tonight then it will be the largest rise for sometime on AIM and I did say IF..
All eyes on ASX tonight where we'll receive our next update.
A 600ft oil column would be good. But I'll take 500ft for now.
Then Torok by Thursday latest
Will be interesting indeed.
I am geology expert but I would listen to the people who have experience in the industry that post on this board and 88e
board.
Maybe it's just me but tomorrow could be another huge volume day,remember it is NOT over yet.
all the analysis is good but at this stage things are done (tomorrow is already here) and the silence of the CEOs is not giving any confidence.
Maestro at 23.18 'If the deeper targets mean torok i am not holding my breath, seabee target had better chance of oil and no oil was encountered.' I'll find some links later to pull that statement apart. For a start torok is 500ft thick FFS
Jon, as I’m gathering ;) GL
Seabee didn’t
Tiburn
"Experienced consensus - Its not over yet – deeper targets to come"
If the deeper targets mean torok i am not holding my breath, seabee target had better chance of oil and no oil was encountered.
Im just hoping they didnt complete the nanushuk when the rns came out. Fingers crossed.
Ive read through all posts on 88E and here since RNS , recording views and sieving down to an understanding of the consensus and likely status:
Poorly written RNS by 88e which didn’t specify what exact formations evaluated and “within commercial band” ambiguity. The CEO assume a base level of technical understanding in investors, and are not as simple and clear as they could be in the RNS.
There is a substantial misunderstanding of the technical aspects of this RNS and what it actually means by the market, what aspects are important, and lack of full understanding of what other nuances could be considered such as horizontal drilling and migration of oil aspects amongst many. A few voices summarise the positon superbly with technical and market experience to support their views.
Experienced consensus - Its not over yet – deeper targets to come
Imo the AIM traders blew their load prematurely on Friday. Makes the gamble more exciting anyway. Asx were protected from the premature shenanigans and will come out of suspension when a better calculated desicion can be made.