Member Info for Brombarb

Could have renegotiated leases, DOG do not not generally kick anyone off), could have rationalised into a working unit , which will be the next step for Icewine West in any case.

If after seismic study there is no real chance of oil, or the surface is mainly water anyway makes sense to relinquish and save rental, each lease ~1440 acres at US$10 per acre. Every little helps :-)

13:10

Has David Hobbs actually ticked all the boxes yet, surely that will only happen when either a JV or actual finance solution is officially announced?

Would a JV be more expensive in the long term as I assume it would involve working interest being given away?

The hotline connection to TAPS is necessary if and when Alkaid -2 etc go into full production, otherwise we would be dependent on tankers and all the inefficiencies and reliance on third parties that would bring particularly during winter.

As per recent RNS another tranche of state leases East & West Icewine relinquished/rationalised 12/06/24

https://clients3.weblink.com.au/pdf/88E/02813770.pdf page 4

393047,393048,393049,393050,393042,393043,393044,393045,393046,393081,393083,393085,393086

393088,393091,393132,393134,393139,393140,393141,393142,393143.393144,393145,393146

Not sure if we still hold the ASRC leases to West of the state leases.

https://dog.dnr.alaska.gov/Document/Download/D50766D4821345BA811EF690BFD49164/North%20Slope%20Notification%20Lessee%20Map.pdf

looks a lot but we have(had) ~100 leases at Icewine West alone.

09:28

between 08:00 & 09:38 I can not see one trade of 10,000 shares or above, will acknowledge one at 9,999.

Otherwise agree we need some good news not just rehashed presentations.

13:13

When did this get to below 0.10p?

LSE quotes low today of 0.105.

Check the 1Day graph on HC, one trade (buy) at start of trading matched by a second trade (sell) at close of play.

Does look odd.

https://hotcopper.com.au/asx/88e/

Https://www.petroleumnews.com/pntruncate/775759285.shtml

20:03

Enstar are permitting to build of an import facilty at Port McKenzie and extend current pipelines to make up for any Cook Inlet shortfall, can not wait until 2029.

Article attached to post at 17:40 makes clear that negotiations with Japanese and Korean utilities to finance the project have failed so far.

17:40

Not sure why last paragraphs duplicated :-(

Based on RNS today PANR went down the route of vendor financing because other cheaper methods of finance were not available to a junior oiler

But on that basis why did (does) the company not consider a conventional CR(s), I know the dilution arguement but surely if the project is as assured as many think the value gained would massively exceed any dilutive effect ?

Does anyone have a view they would like to share.

Genuine question is what value would any agreement with AGDC have at this moment when the gas line project is still in iplanning with no finance yet to back its construction, particularly as ACDG have set a time limit on their own existence if funding is not gained by end of this year.

"AGDC’s board told legislators in April that if it couldn’t find investors for at least the in-state pipeline by the end of this year, the corporation would shut itself down.

If AGDC fails to secure funding for the entire project or for the initial pipeline phase of the project by that date, we have instructed AGDC staff to initiate the work required to shut down and either sell Alaska LNG project assets or put them into storage,”

https://alaskapublic.org/2024/06/04/deal-to-buy-north-slope-gas-boosts-alaska-gasline-prospects-but-hurdles-remain/

"AGDC’s board told legislators in April that if it couldn’t find investors for at least the in-state pipeline by the end of this year, the corporation would shut itself down.

“If AGDC fails to secure funding for the entire project or for the initial pipeline phase of the project by that date, we have instructed AGDC staff to initiate the work required to shut down and either sell Alaska LNG project assets or put them into storage,” reads the April 22 letter first reported by the Anchorage Daily News.

https://alaskapublic.org/2024/06/04/deal-to-buy-north-slope-gas-boosts-alaska-gasline-prospects-but-hurdles-remain/

16:26

Slide Rule? what happened to the Babbage Difference Engine? :-)

Liquefaction plant may cost a bit more than $4B based on total project cost ~$40B of which pipeline is $11B compnent.

https://alaskapublic.org/2024/06/04/deal-to-buy-north-slope-gas-boosts-alaska-gasline-prospects-but-hurdles-remain/

13:54

Unfortunately many of today's posters have already passed through the exit door or were never actually inside.

:-)

You would have thought we had announced something pretty dire today based on the tone of some posts here today and the market reaction.

Leonis looks to have potential (30% porosity) and is well sited next to TAPS and closer to Deadhorse , farm in being actively persued via;

https://www.stellarlimited.com/

As for rationalisation in Alaska probably well overdue, seems unlikely that NPRA projects will ever be developed now and Icewine West probably carries many leases that are not viable, as per my post last night we have already divested ourselves of leases Eastwards of the Dalton & Sag River.

Genuine concern at future financing of projects at current share price.

14:21

You are saying PANR is a leaky ship?

Leases Closed Expired

Leases to East of Dalton Highway, Sag River

393088,393091,393132,393134,393139,393140,393141,393142,393143,393144,393145,393146,393081,393083,393085,

393086

https://dog.dnr.alaska.gov/Document/Download/D50766D4821345BA811EF690BFD49164/North%20Slope%20Notification%20Lessee%20Map.pdf

I can only work off what I see in the trades at that time, over the last few years the LSE financial reporting seems to have got more and more opaque.

have a good weekend.

18:07

Looking at trades happening at that time then I think most likely a SELL

https://www.londonstockexchange.com/stock/88E/88-energy-limited/trade-recap

trades between 10:15 & 10:30

Article talking about possible implications of Shell's decision to give up on Alaska, need to read the whole article and also remember that Connoco in particular but also Santos / Resol are investing heavily in new fields.

https://www.adn.com/alaska-journal/news/2024/05/29/shell-abandons-north-slope-oil-leases-raising-questions-about-the-industrys-future-in-alaska/

For anyone interested.

https://www.youtube.com/watch?v=rxhC_A5aw0c&ab_channel=88Energy

12:05

We have often had periods of SP stagnation and then without any obvious catalyst a steady rise, whether 88E still has the magic to do that though is a moot point.

Based on RNS 10/05/24 it does look as if all costs pending on PEL 93 inclusive of 4th instalment are already paid so we should not be getting any news other than operational.

Otherwise its how the market receives the independent resources update for Phoenix and any possible Farm Out news in respect of same or Leonis.

Like you not particularly impressed by the current board that last video short was uninspiring to say the least.