Member Info for belisce6

My understanding of "reserves" is that it needs to be shown it can be commercial.. via a proper flowtest... ie; hrz...
Also.. i did numbers ages ago.. and thought they could get 150 to 200mmbo reserves at franklin bluff area if they drilled and flowed some wells.. (ie; pilot production setup.. cost about 100 to 120mill usd - sounds like amount a poster mentioned that brokers stated, as needed by 88e to proceed the hrz.. around he time ice2 was spluttering to an end)...
It all seems to tie in together.. at least for me it does :-)))

Contingent resources.. can come from hrz after successful flowtest (summer 2019).. or from yukon 3d confirming historic drill result.. or from successful winx... 400mbo is a big chunk.. doubt it comes from only one project.. and i do believe that it is "net" to 88e..
Winx alone nor yukon alone, will not give them that number..
Hrz could.. possibly.. depending on work that gets done in summer2019 by farmin partner...

They will Not be able to book "reserves" for winx..
Only 2C resources..
Based on 88e projects.. reserves eithin 12mths can only come from hrz... cos that can be flow tested easily..
That is my understanding.. winx would need to be put on flowtest and have been appraised in order to be booking "reserves"...

Might be a good question for dw tomorrow..

I see the reserves and production elements all tied with hrz.. in fact tge contingent resources part too...

Offtopic..
A poster on the 88e board mentioned two other companies that have similar value and prospects to 88e.. eco was one of them.. i got in and out.. was a lovely ride.. whoever tipped us on that one.. thanks :-))
Cos its all going into a new batch of selfsourced 88e performance shares for me :-)))

Thanks in advance :-)

F458..
As a holder of aaog.. have you raised this with the ceo directly??
Why not ??

Mr DW. are you confident that your 19.2million performance shares (32mill at 60% for tripling sp) will be issued to you by the time Winx has been spudded ??

Hi guys..
I wont be there tomorrow but hoping someone in attendance would be kind enuff to ask the following question..
"Previous yukon gold historical discovery figure quoted was 120mmbo.. looking at the yukon and cascade 3d anomalies.. does the 120mmbo relate to only the yukon anomaly or does it cover both ??"..

Reasons for my question are obvious.. cos if yukon 120mmbo does not cover Cascade anomaly.. then Cascade could add double.. :-))) if those quoted figures are actually real...

If you round it up.. then 2mnths to drilling sounds right..
Itll probably be end october by the time they drill into the ground (unless tullow speeds thru a cormorant duster).. so realistically about 1.5mnths away from spud... if cormorant remains on track..

F458..
Based on your comments about the ceo not knowing about testing the ground, and based on you being a longterm holder in aaog (?)..
I need to ask.. have you communicated directly with the ceo to raise your concerns ??
Cos if they are legitimate then surely they will take it on board :-)))

I see that pcl put out big figures for its acreage nxt door to chars southern namibian 10% option lease..
https://hotcopper.com.au/asx/pcl/
Interesting.. althought it doesnt really look like it spills into the char option lease :-((

No...zac mentioned 75p. :-)))

Y would they raise cash ?? They have enuff for namibia drill plus about 3yrs of admin.. so farmout morroco and then brazil.. they have almost 100% of non-local stake in those.. dont they ??
Besides... namibia drill will be farmedout.. just keep watching :-)))

Phnom.. are you having a laugh ?
The rig is booked for prospect c with the option to then drill prospect w...
So your comment on char not drilling more than one well no matter who farms in.. is absolutely fraudulent..
Do some research.. please...

What would be ideal.. is if a farmin partner agreed to the full 50mill usd whack.. but to drill prospect B after prospect c.. cos its the biggest Mean mmbo prospect at 469mmbo or so.. and its a stratigraphic play.. so itd mean testing a structural play in first well and stratigraphic in second.. on succesz itd completely derisk entire acreage.. and give the farminee some net 510mmbo Mean case unappraise, for its 50mill usd cash outlay..

Comeone Larry.. we know you can do it..
Up the game son !! :-))
Talk them into it.. they just gotta gamble just under 10cent per barrel :-))))

If a major wanted to buy those potential 410mmbo theyd have to pay minimum about 2bucks per barrel unappraised.. if appraised then more like 7buck per barrel range.. so gambling on 12cent per net barrel oil now versus minimum 2buck later would be like 50mill usd now which may end up in the toilet, or about 820mill usd later for 2C oil but still not completely appraised..

Two drills would cost less than 50mill on success..
Cos prospect s is stated as 20 to 25mill.. etc..
For 55% of potential 2bill oil paying about 50mill to pierce 459mill oil and then 284mill oil at 55% net for farminee that means pay up to 50mill to see over next 2 to 3 mnths if you can get net 410mmbo or so at Mean case.
Thatd be 12cents per barrel of cost..
For a major.. nothing :-)))

One thing to consider here is does azinam have the cash for its full 20% of project ?..
Or will they be hoping to reduce to say 10% fully freecarried or similar ??
They paid the whack of the 3d.. so..
In general if char gave up 45 of its 65 % and azinam gave up 10 of its current 20, thatd be about 55% of entire project for new farmin partner(s)..

Using a 50% premium for direct drill costs brings that to 82.5% of drillcost covered by farmin partner(s) and with backcosts itd be a fair chunk of extra goodies coming in..
So i think one fully freecarried drill plus some cash is the minimum deal they might be looking at.. or the best being.. committment for two drills now, fully freecarried for char net20%..

Norksbear.. no way.. minimum 20 to 25% net for a freecarry on the drill..
Absolute minimum.. i believe he is pushing for twodrill freecarry or something along those lines.. he has already mentioned that with a farmout on first well char is then covered also for the second in terms of cash..
But if he is trying to get the best possible deal.. for me thatd be two committed drills now completely freecarried with net no lower than 20% to char...

Before the last few yr oil price crash.. there were farmouts announced across oilers very close to spud or even after.. here and there.. so if it happens with char, it wont actually be a new thing..