Member Info for belisce6

What sort of farmout deal expected on this namibian asset ? If char holds 65% then they could easily go down to 30% or so.. including previous costs and possibly some premium.. i guess they could potentially give away 35% of that 65% for a remaining freecarried 30%.. leaving them with the cash in the bank being untouched...

Anyone able to get hands on report ? Just wondering about the details used.. etc..

Kangaroos.. i agree.. Plan A has not succeeded.. that was the idealistic one whereby 88e bex would take the hrz as far as posdible on their own.. Now to plan B.. farmout the hrz.. I have mentioned the 1k usd per acre value.. I think at 500 usd per acre level its better for 88e to raise the 12mill usd for 25k foot horizontal and do it on their own again.. Otherwise a farmout could work at down to 750 usd per acre.. but would obviously prefer a base price of 1k usd.. We shall find out one day.. Effectively at 1k usd, they can get about 45mill usd of drilling by giving away about 15%.. Even if at 750 usd per acre, giving away a third of total.. itd bring in 100mill usd of drilling and leave 88e with net 36%.. That is still very good seeing that someone else has to do the work to prove 88e net 1 to 1.5bill recoverable oil... Will be interesting to see how things go . I do believe that the western icewine conventional farmout might include the drill having to pierce the hrz and posdibly recover the core (like in ice1).. cos to not take the opportunity for such, would be crazy..

JoeCreed.. It does look as if the science well ice2 vertical was just that.. getting more data to put the jv in a more advanced position than just drill core and lab tests from ice1.. It may be the difference in per acre farmin value of +few hundred usd etc... So there is probably some real intrinsic value in them having done ice2 vertical, but we probably wont see it till later... I imagine they also had to do this cos it would be a necessary initial part for horizontal fracc drill... I think dw and the jv tried to pull something off at an extremely idealistic high level.. having not come off it just means back to normality.. a standard farmout etcetc... Needless to say.. there is still probably a 100bagger in this from dw comments and sp level a couple of years ago.. I doubt the 100 to 200 bagger potential now, however a 50 to 150 is still on the cards... thatd be 15 to 40p (using the 0.3p start level)... all dependant on how long the hrz work will now take...

The whole thing is a bit wishy washy and experimental.. We were just spoilt with thinking itd happen first shot.. But it may still happen :-)

That mob also kills wells.. soo.. must be careful about the pumptruck.. one would think theyd try to sort out the low fluid flow first.. hopefully anyways... have come to far to just cut it.. as far as i am concerned..

Cat.. rmp still in suspension since late 2017.. on asx.. Would imagine they now get that lifted.. Were in suspension due to lack of activity.. Strange one.. new ceo recently on board.. but still got the old md.. hmmm.. who cares.. not 88e concern.. rmp had 10mill aud in bank.. more than enuff to cover their share of the drill :-)

New rns on asx.. revised the previous one.. Seems like trade halt no more :-) They included link to repsol and changed wording in regards "recoverable" oil etc.. Some hc posters highlighted the differences better.. But in general.. looks like just some text changes due to sensitive stock exchange regulator :-) Onwards and upwards.. Sure hope the ice2 has lifted another couple % of that fracc fluid this weekend.. please.. please.. please.. :-)

Yes.. i am Meso1973 on hc.. And yeah.. youre right.. great bear would be able to get back more after an official discovery.. ie; once its derisked.. Just shows what crappy situation great bear got themselves into finance-wise...

Please Correct me if i am wrong.. The great bear 10% free carry becomes no freecarry for them if they want 20%. -Cos if they decide on 20% share before spud then great bear must cover their full pro rata costs.. so 88e, oel and rmp donot pay premium on their share.. -if great bear decide on 20% share after the drill, they then have to fork out 200% of their share of the initial well costs.. so they would have to payback about 40% of the original costs.. In this situation, meaning it would be 88e, oel and rmp receiving back a 20% discount or so on their working interest.. Unless i have misinterpreted it...

Hahaha.. that really is very very silly.. albeit funny.. The notion that the horseshoe farmin is a distraction on a slightly delayed ice2 operations.. Geez... :-)

Dw already hinted this would happen.. on the 02may18 capital raise announcement.. 5 Reasons for cr given in bullet points.. The last bullet point.. the last 8 words.. "...and provide capital for any additional growth initiatives"

I think they got a good deal cos great bear is up against it.. even with getting back alaskan rebate money soon, they dropped quite a few western tenements recently.. They need cash to test their alkaid well.. and must do this and appraisal by may19.. They also have another exploration well somewhere in central tenements.. talitha perhaps ?? And this horseshoe prospect also MuST be drilled by may19 otherwise the bond is lost.. cos these leases were recently renewed.. having probably wasted the best part of ten yrs or so.. Paying handful of mill usd for potential 144mmbo in a sea of discoveries, isnt a bad punt for 88e.. If the hrz success gain continues, then horseshoe project could give them some hundreds of millions usd in order to drill out the hrz themselves.. based on 3buck sale or partial sale if this horseshoe project becomes proven :-)

Yes.. haha...

Otto energy also in trade halt for exactly same thing.. They state that "ASX has requested further clarification of the announcement today..." What does the asx want ?? Geezz.. Possibly the oil estimates have to be within some form of standard etc... They have mentioned 400mmbl best estimate for the seismic coverage, of which there should be more..

For clarification of horseshoe farmin announcement.. Wonder what thats about..

Cjml.. If they get to the fullon reservoir connection and hydrocarbon flow.. then can continue this thru winter.. the shutin was due to the water or fracc fluid flow thing.. thats how i understood one dw explanation for previous winter shutin..

Exactly.. theyre going slow and easy :-) I will cut and paste your poste and place it on hc..

In the meantime.. the dreggs have also gone from trace C6 to trace C6+ :-)

Need to understand.. that the 50 rate only came about cos of them experimenting with more nitrogen lift to find optimal levels.. they obviously went too high, so they now know how much they can inject.. So its just a matter of whether theyre able to keep tge original 350 to 166.. over 2 days thats already about +2% :-) So i can understand DW "as expected" comments.. 'We dont know what we dont know' :-)