Member Info for Brombarb

10:32 but as we worked out last week MMs can sell shares they do not have , all they need to do is ensure the deal is ultimately profitable and with only two (I believe) MMs active in 88E they have ample tools to do the job.

10:24 I normally ridicule "MMs desperate for shares" but so often on dummy trades I have had to reduce the deal to get the quote.
But not today.

10:12 which broker are you with that "sell" looks suspiciously low :-)

dummy sell on HL 3M shares 1.12p, quote given on first attempt.
My view that 5M was a buy, why would MMs buy at that level unless they are desperate for shares.

09:31 market does seem to be calming down only 8 reds on my 21 line watch list, how scientific that I do not know but better picture than for last two days, during that period 88E was never the biggest dropper but it's too easy for the bashers to try and give the impression that there is something unique to 88E happening here, investors are spooked, traders waiting to make move.

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interesting that London stock Exchange shows mid price as 1.12 whilst London South East sticks at 1.05.
Price (GBX) 1.12 Var % (+/-) -4.25% ( -0.05)

just think its a general share price correction 15/21 in the red on my AIM watchlist, positively my Blue Chips (dividend earners) seem to be pulling back a little from earlier today.

MMs having a good trees hake of so many shares at the moment, full scale carnage.

11:48 it may take another 4-5 years at current repayment rates for SOA to turn those tax credits into cash, if the bonds scheme is finally approved we will take a ~7% haircut.
It's debt and it costs us every quarter.

11:46 It's still debt and we are paying interest on that debt until the tax credits are turned into cash.
we certainly will not see a A$29M receivable.

11:31 it's a major irritation to me that the jv committed to Alaska based very considerably on the exploration credit's scheme, the way that SOA not only pulled the plug on the scheme but also then vetoed any payments for 12m.
Of course it could be stated that we should have been prepared for changes to the scheme in the light of the oil price drop in 2015 but to veto payments for 12m and then only repay at legal minimum rates (plus a little) has not only hurt 88E, its put other companies in big difficulties too.
Had the scheme continued our development would have been speedier and a lot less costly almost surely, had payments remained as prompt as pre 2015 we would have paid a lot less interest as well.

11:17 88E has debt, it's underwritten by SOA but costs interest every quarter.
At the moment we await a Court of Appeal Judgement in Alaska (12m in progress) as to whether we will tax credits due from SOA paid in one lot or piecemeal over the next 4-5 years. If paid in one lot would see us take a haircut but walk away with ~US$ 2M.

HRZ may still fly one day and the data gathered from Icewine#1 & #2 may prove helpful but I think we are still a long way off proving the concept.
Hoping the HRZ core from Charlie-1 will be positive but …
Eyes on conventional.
Lease 391302 may still prove very useful for Alpha target.

14/21 AIM watchlist shares down, only 2 in the blue and of the other 5, 2 are suspended, market is in turmoil and many investors (traders) getting out just now it seems, or at least MMs are taking advantage.

Think many did not look back at Winx SP history, just expected an unending rise from December levels up to spud, sure the CR had an impact but we do not know how much, some thought we would see 1.5p at spud, some thought more, some thought less.
Ultimately had we not raised cash some of those doubters would be saying that they had worries in case of a disappointing result at Charlie-1, the bashers are always looking for angles to try encourage others to sell, its just a fact of life.

08:54 Think we will see oil shows before 5000' and that is all we needed to say on the Winx drill to get some real excitement, if you do not believe check the interim report last March that moved us up 12%.

https://londonstockexchange.com/exchange/prices-and-markets/stocks/exchange-insight/news-analysis.html?fourWayKey=AU00000088E2GBGBXASQ1&page=3

08:23 have you looked at the well data, have you looked at Premier Oil's last half year presentation, would PMO be investing US $23M if they did not think that there was a good chance of success.
BP drilled in 1991 based on 2D, for what ever reason drilled non vertical (well location not correct) and encountered mechanical issues that meant had no time to flow test prior end of drilling season.
PMO have 2 Non Exec Directors ex BP with experience of Alaska sure they know a good deal when they spot it.

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19:21
Did not spike last year for Winx, check from 5th Feb when announcement of rig mobilisation occurred so not a great surprise this year, agree the CR did not help, but those screaming loudest would have just been screaming about lack of money in bank had the company not raised.
All that pales into insignificance against what will be happening at Charlie-1.