Member Info for BB32

Bothwell,

Be prepared to be surprised...this could easily go to double digits on good success of Charlie drill, the Company has set it's stall out for next 2 - 3 years.

Lots more to come yet to cream the curve.

BB32

Chrisev1,

HRZ is just a type of Mesozoic Hydrocarbon source rock of the Artic region - bit of reading for you if you are interested, needs a fair bit of reading then a lot of thought to fully understand.

https://folk.uio.no/hanakrem/svalex/Papers_and_extended_abstracts/Leith_et_al_1993.pdf

https://www.researchgate.net/publication/331904327_Formation_Evaluation_of_an_Unconventional_Shale_Reservoir_Application_to_the_North_Slope_Alaska

http://www.searchanddiscovery.com/abstracts/html/2019/hedberg-90349/abstracts/150.html

Have fun

BB32

Moneta

We may well have had a different result had we drilled a Horizontal well for Ice2 which was always prefered drill but for money reasons and wanting more info the vertical was done, it may well not have succeeded if we had found the very edge of the HRZ with the bitumen ( which is perhaps what happened , who knows ) but with more info from Charlie whoever Farms in may well crack it.

Anyway next 1 - 2 months is going to be very interesting.

Bring it on

BB32

MonetaMinter,

Not trying to be awkward but, this is not about the HRZ and at this stage PMO are not involved with it.. This is about the 7 Convential zones and the newly mentioned 2 upper zones all conventional targets.

88e are separately taking the opportunity to have a quick look into HRZ.

BB32

Perhaps we are not doing that badly compared with ....

https://www.bbc.co.uk/news/business-51681620

BB32

Nobody expects

https://m.youtube.com/watch?v=sAn7baRbhx4

BB32

Brom,

It would be a change if the last update is the only one produced, the three previous drills all showed more detail, perhaps less is more and might calm things down. ..,

Someone on Hot Copper suggested best thing I heard let's go into a trading halt here and Aus whilst drilling !

Talk about a binary outcome and massive scramble at the end, poised fingers, ready set go !

BB32

Not surprised that this site is not feeling well with all the rubbish it gets fed !

Be good to get update tonight with Timeline and depths.

BB32

Desmond45,

I bought into the 88e story based on Paul Basinski's connection to ConocoPhillips and his history with Eagle Ford, I took too long to make my mind up doing endless hours of research, and purchased first shares at 2.16p just after completion of Icewine 1 on 26/02/16 my belief was that this was a 5 - 7 year play to see the benefits.

No major discovery has succeeded on first drill and whilst I along with the majority of shareholders wished for instant success, I was prepared to buy more when the opportunity rose to lower my average, and have done so, at today's SP I am losing money slightly , but no issues my choice, this will come right and ultimately the unconventional potential of this area will be successfully fracked.

The modern 3D info and other current testing that has been carried out around Charlie is a bonus as my investment was based on the unconventional .

If 88e doesn't ultimately succeed then my attitude is ( well it wasn't to be ) and walk away having lost money , but I won't be on bulletin boards ****ging off the Company.

My investment .. My choice no one forced me to buy..

1 of articles that I first read still is worth reading .

https://www.energynewsbulletin.net/news-archive/news/1097205/88-pins-hopes-on-eagle-ford-replica

I get frustrated by the constant drivel on this site , Where people behave like 5 year olds without adding any relevant information to back up their point.

I wish you and all investors success, but just wish people would check information before spouting things .

BB32

L.Graham / Stockdale /Desmond 45

Do you actually understand what we found at Icewine2 ... BITUMEN

Do you know how this is formed ?

The information that we have is why a Soft Farm Out is happening.

Did you all think we would get instant success the first time we drilled?

Suggest that you all do some research .

Here's a link to get you started

https://energyeducation.ca/encyclopedia/Kerogen

Your comments on Duster's are just not correct - we did not find free flowing oil - we fracked a limited area vertically that had communication between areas that affected the drill

Fracking works better on Horizontal drills , you also need to remember why we drilled where we did - existing pad next to main road.

Perhaps you all invested without doing research, this was never an instant win......

BB32

Closest info regarding target depths is info from Malguk 1 - info shown on page 10 of Nov 2019 update

http://clients3.weblink.com.au/pdf/88E/02174284.pdf

BB32

Nice publicity, good to see

https://www.nextoilrush.com/88-energys-drill-rig-is-now-on-its-way-to-drill-one-of-the-biggest-wells-of-2020/?utm_medium=email&utm_campaign=88E-UA20&utm_content=88E-UA20+CID_ebf7ff173ebcec2dcc58106e1df86ba2&utm_source=SD&utm_term=FIND%20OUT%20

BB32

Islayman,

My post was not intended to suggest that you or anyone else does not have a right to a different view, my post was not aimed at you, as many have voiced this over the past few months.

My view was to suggest that Dave has put more info on ultimate sell up time lines and is in line with his hopes and Company message over the last 5 years, I believe that our final SP will be many times what it is now, and will be a lot higher than whatever it will be in June.

I have maintained all along that it was more in hope that we would crack HRZ first time, we have been delayed in our journey .

People bought into the quick Oil exploration success and sell theory - was never going to happen, I along with many wished it had, but the realist in me suggested it was always going long and still is.

Why would we sell ? When so much more to come after Charlie?

If I upset you then sorry.

BB32

Nice positive announcement, sets out a few answers to quell some of comments on this site recently about selling up after Charlie.

Still a longer play 2-3 years - to true value of 88E - will be interesting to see what Mr Market thinks of this ..

Timeline announcement of drilling still to come this week ,

Should see the start of FOMO.

Spin the dice and see where it lands...by June 3p / 4p / 6p 10p who knows?

The journey looks to be fun.

BB32

Nice early update this morning in Aus.

https://hotcopper.com.au/threads/ann-investor-presentation-charlie-1.5242087/?post_id=43103140#.XlLs-lffWh8

11 minutes to go - flagged not price sensitive - so presumably just confirmation of rig move - maybe timelines

Gets better as the week goes on ..

BB32

Very interesting thoughts from Olderwiser on Hot Copper ( my belief - one of the better posters on Hot Copper )

https://hotcopper.com.au/threads/charlie-1-well-valuation.5214502/page-6?post_id=43102393

It will be interesting...

Not long till the rig gets to site, set up and hopefully RNS from Dave suggesting time frames targets etc.

BB32

As predicted by Brownliquid at 16.54 - it did open at 2.5c cure tly 8.7 % up let's now see the gap up to 2.7 or 2.8c so we can follow up in the morning.

Come on 88e let the train start to gather speed...

BB32

DubaiDave,

Re yours 21.01 - lots of reasons - cost of oil principly, decisions made to focus money on known producing areas, whilst not implictly stated in the following, I seem to remember comments way back.... Money switched to develop Badami field east of Prudhoe

Long read , but we'll reading if you want the flavour of BP in Alaska

http://www.petroleumnews.com/products/BP50AK.pdf

BB32

Neverlearn,

That is the $64m question, but common consensus suggests that we would be looking at $3 - $4 dollars per barrel to sell up - however ultimately it will be down to whatever deal we can get.....

But just think ... We don't have to look far, in Jan PMO bought from BP

"British oil giant BP has sold several oil fields in the North Sea for 625 million dollars (£475 million) as major players continue to exit the dwindling basin, handing over to smaller producers.

Premier Oil, a London listed company, said it was buying the Andrew Area and Shearwater sites from BP, hoping to capture the 82 million barrels of oil and equivalents, thought to still be trapped under the ground.

The Andrew Area includes five oil fields, with a stake of between 50% and 100% in each, Premier said. It also includes a 25% interest in the Shearwater infrastructure hub.

68.46 dollars The cost of a barrel of Brent crude oil"

So if we can proove up 480m barrels -- roughly 6 + times what BP sold for £475m then 6 x 475m could just be a good idea of what area A of the conventional could be worth... What might area B & Area C be worth ?

Yet alone Yukon 90m barrels ( £ 475m) and then unconventional @ 2 -3 Bn barrels ? Mind blowing ?

Definitely SP will be many multiples of where we are now .. Some of the comments of selling the entire Company for 10p a share are ludicrously low in my opinion.

This Company with the assets that DW has built up has the potential to mirror Cove Energy , we just need to proove the oil up.

I don't view this as ramping ! Just realism, I don't believe that any Oil Company has hit Commercial oil with their first drill, our 3 drills have provided information , hopefully this is the one to say goodbye to the naysayers and trolls...
GLA

BB32

Early core analysis .....

Total organic carbon content of samples ..... Got lost in reading

''Figure 4.9. NGS log curve versus TOC
where TOC is the total organic carbon content (%), and U is the uranium curve value by NGS logging (10-6).
In Formula (4.3), the relationship between TOC and U is nonlinear. The two are strongly correlated with a correlation coefficient of 0.92.
The use of the U content to estimate the TOC content in NGS logging is based upon the sedimentary characteristics of source rocks. The estimated TOC content should represent the hydrocarbon potential of the source rock and be independent of the oil and gas that are subsequently generated and reserved in the source rock. This method is an empirical formula for local statistics.
3.2.1.2 ?lgR Method That Overlaps Resistivity With Porosity Log Curves
?lgR, a classic method for the logging calculation of the TOC content, was proposed by Passey et al. (1990). Its basic principle is given in Formula (4.4) as"

Obviously the information that was previously found is good and has been checked with modern technology .

Should be good, next few months will tell

GLA

BB32