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http://redemperorresources.com/wp-content/uploads/AlaskaOperationsUpdateInterimDrillingResults01Mar19.pdf Oil Shows! • Oil shows have been observed whilst drilling in the Nanushuk in the Winx-1 exploration well o Preliminary review of the interval by the operator suggests that the zone in which the shows were encountered is at the lower end of the range required for commerciality; however, further petrophysical analysis is necessary
by that logic if they had oil shows at nanushuk 4 shouldn't that lead to automatic rns?
River Well had gas deep down and i mean deep, i think it was 15000ft.
The first encounter Seebee was in 1977 river well,and I think encountered p1 p5 gases,we don't know if those gases have been encountered in the Winx-1. Well,because of a possible oil find lower in the Nanushuk,makes the seebee immaterial, so hydrocarbons in the Seebee would not matter,the high section of the Nanushuk encountered oil,why would another RNs be broadcast entering the Nanushuk 4,it will wait till next update.this RNS today was forced because of a breached confidence of Nanushuk reporting oil find yesterday,that forced suspension in Australia, let's hope the deeper finds are commercial, good night all.
Tiburn,DW from 88e is totally air on the edge of caution,dosn't glorify anything,and can make investors panic,oil discovered, then puts the boot in,later RNs can relax the pressure,think this is OK.
Very peed off PI's on Monday Personally expecting further update re Nanushuk 5/4 The update today was early but released as something of potential interest. Possibly bonus area at a shallower depth than our main targets. Could be Nanushuk 5 but very unlikely to be Nanushuk 4. That was scheduled to be reached today/tomorrow, not yesterday. All my opinion and DYOR. But personally think we could be in for some serious news ahead. I topped up today BTW. Was holding since January.
Tiburn
What do you reckon nanushuk 4 formation? Did they cross this before they issued rns?
Flatfire
"They would be pulling out of hole and rigging down right now if there was no chance of success. Its been an interesting time for me reading all the posts from the past weeks. .....I have spent many years in the desert drilling for oil but the first time actually ''investing'' in a venture."
Investinggenius:
" They've found oil in upper section and they have the 2 deeper sections still to drill. Far from over. Massive over reaction today"
IMac1
"RMPs acreage is the only seismic in the area that shows a high amplitude response in the Torok turbidites. All still to play for and I hope those on a loss were comfortable selling as this could turn on a dime."
Dakad
"I remember selling out of jog when they rns’d a duster, few days later they sidetracked and hit.
Question is are there other things that they will try here?"
JofHoggit
Nanushuk 4 would only be 100ft away from nanushuk 5, considering they are drilling 500ft per day they would have past nanu today morning.
They were through Nanushuk 5 as of yesterday. By Sunday night I'd think they'd be through Nanushuk 4. I'm expecting further announcement and ASX halt ending for Monday morning Aus time. Not reach TD til Tuesday / Wednesday. Should be a busy week RNS wise, possible rollercoaster ride.
No one knows a thing,pure speculation,
they would have had the results in the night of 28th feb so by morning they would have past the nanushuk 4.
So no news came up all day today its very unlikely the nanushuk.
imho
They are drilling very fast, almost like its through water...
But they will be through all Nanushuk now if they weren't already so should be able to tell us that asap and put us out of our misery
if by miracle the nanushuk wasnt breached before the rns then one can expect rns first thing monday.
yes we will get it tues, they will likely get it 11pm monday UK time
Maestro I don’t think they can, the announcement was fairly clear , they don’t appear to be suspending until TD, imo that would require another RNS, today’s halt was specifically for 88E announcement but I do think we will get news early next week GL
faze1
will they receive $3m rebate from alaska?
Interesting they will have around $7m then and the Philippines asset. Current mkt cap 8m.
Will put these in the bottom drawer. 4.1p average....
spike912
by tuesday they will reach TD so they may indeed stay halted on monday.
They usually open at 11pm but today will be saturday.
ASX too late in the day after today!
It will be opened for trading on opening of AEX I would imagine
Faze. You need to read the announcement, it’s pending 88E releasing, which they have done. Simple The “announcement to the market” has happened
And the $3 million rebate from Alaska for drilling wine x before 31st may
Was there an announcement on the ASX if not then it's still in halt simple
Trading halt is over The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 5 March 2019 or when the announcement is released to the market"
Agree it's a multibag next week or under a penny
so if more news is expected on tues it will likely stay suspended on monday until the drill results are complete.
If the torok is a duster rmp will probably fall less than a penny and then recover to 1p, they will still have decent cash in bank and also the asset in Philippines