Member Info for Brombarb

" 4th Instalment: US$0.9M in cash to be paid on or before 1 June 2024 for remaining payment of back costs and 2024 work-program carry. "

https://clients3.weblink.com.au/pdf/88E/02739243.pdf page 12

10:32

I guess that is largely true.

2D is often used for greenfield (unexplored) areas which PEL93 is, remember PEL93 is 12X larger than our entire Alaskan portfolio. Once likely structures identified we have option to use 3D in a targeted approach if necessary.

"2-D seismic is recorded using straight lines of receivers crossing the surface of the earth. A 2-D seismic survey works well for imaging major structures.

2-D surveying is still popular because data gathering and analysis of 2D seismic information is much quicker and cheaper than 3D or 4D. 2-D data requires much less permitting, surveying, and processing time than even small 3D surveys. Large 3D seismic shoots may take one to two years to acquire, and three to four months to process the information"

https://ektinteractive.com/exploration/oil-gas-exploration-types-seismic/

https://thelundingroup.com/lundin-group-of-companies/reports-from-the-field/what-is-the-difference-between-2d-and-3d-seismic/

NB

We are not the operator in Namibia and the operational plan is set by Monitor not us.

https://www.monitorexploration.com/owambo-basin-project/

13:30

I am just presenting the facts as I see them and giving relevant links, PANR have plans in place whether or not the gas pipeline is built so there is no great issue.

17:46

Point taken about OTC but reference to the TOP20 shareholders would suggest that Australian & UK holders are the majority so there could and should have been a much better turnout.

https://88energy.com/investor-centre/

News = nose :-(

12:52

The company is subect to regulation primarily the Australian Corporatations Act and there is no clear evidence that there have been any breaches, not interested in unproven smears.

What is disappointing is that despite all the moans and groans here and in Hot Copper about salaries, incentives and the general performance of the company only ~12.5% of shareholders bothered to vote at the recent AGM, a bloody news ot two might have woken Ashley Gilbert up!

We have projects that may yet come good Phoenix,Leonis and Namibia PEL93 but we desparately need some unconditional good news, accurately and succinctly presented to break the present cycle.

There is currently some news moving about Mustang Holdings on the North Slope, a 25M barrel project that has been on the go for many years, shows how tough Alaska can be even when you have a discovery.

https://www.petroleumnews.com/pnfp3.pdf

https://www.adn.com/business-economy/energy/2023/10/01/after-being-bailed-out-by-alaskas-state-government-north-slope-oil-field-is-eyed-for-sale/

Doubt they will win but ...

https://alaskabeacon.com/2024/05/22/eight-young-alaskans-sue-to-block-proposed-trans-alaska-natural-gas-pipeline/

13:21

At least the performance rights have to be earnt via activities that should increase shareholder value and are voted on at the AGM although I take your point.

The STI scorecard that bonuses were paid against last FY is an absolute insult to all shareholders .

https://clients3.weblink.com.au/pdf/88E/02790279.pdf

page 28

18:58

Not sure if "death spiral" is warranted but there are valid questions regarding the STI scheme in particular that seems to reward directors for self set targets even when the share price is on a steady decline.

More shareholders should have taken the time to vote NO at recent AGM.

17:30

Discussions with Japan mean nothing if there is no liquification facility.

Its important that everyone here realises that there is a very substantial hurdle for ADGC to get over before even the stand alone pipeline can be built, should the stand alone gas line be built the plan is specific that initial sales would only be to Alaska South Central customers only and not to the vast overseas market until if and when the liquification plant is in operation.

Will that stand alone gas pipeline be any more attractive to potential private investors than the whole project I do not know.

If it works out fantastic but nothing is cast iron guaranteed and remember the current political situation could change by 2029.

https://www.adn.com/business-economy/energy/2024/02/27/alaska-natural-gas-promoter-floats-new-plan-send-north-slope-gas-to-southcentral-first/

Looking at the Annual Report (page 28) gives a good indication how the current board are working , if they can't earn on the Performance Related bonus scheme they can always rely on the STI scorecard , just look at the bonus the directors paid themselves.

https://clients3.weblink.com.au/pdf/88E/02790279.pdf

Sorry ~377M traded

Worth keeping an eye on, yesterday saw a ~337M traded across ASX & Cboe, with bulk of trades at close ( price suggests sell), does not appear to have impacted here.

https://www.asx.com.au/markets/company/88E

select 1 day / 1 hour

Just looked at RNS 15/04 and can see that on page 1 it mentions 2H/2024 but in page 4 under forward planning ;

"In addition, the Company plans to work with independent geological consultants to secure a

Contingent Resource estimate over the SMD and SFS reservoirs (complementing the previously

announced Contingent Resource estimate over the BFF reservoir; refer 88E ASX release dated 6

November 2023). Completion of these estimates is expected during Q2 2024."

I think the 2H/2024 is when we should expect.

10:01

Many thanks for clarification.

16:44

Importantly (and after many years of trying) AGDC has yet to resolve the thorny issue of who is going to pay for the actual construction of the pipeline rated at $44B in attached article, the state has most definately said they will not finance.

AGDC has floated the idea of a pipeline only deal but that seems to forget that they still need treatment plants to remove impurities and a liquefaction plant if the project is to work and they cost a lot.

Its a great idea but unsure if it will ever come to fruition.

https://alaskapublic.org/2023/05/08/state-owned-corporation-asks-for-5-6-million-to-keep-alaska-gas-pipeline-quest-alive/

https://www.adn.com/business-economy/energy/2024/05/01/alaska-gas-line-leaders-ask-lawmakers-to-support-giving-44b-project-until-years-end-to-succeed-or-die/

https://agdc.us/

15:03

No announcement I can see to that effect unless mentioned in the recent podcast.

But perhaps the company should take some time to compose an RNS that leaves no doubts as to what is what, rather than the poorly worded and explained Hickory results missives. :-)

15:06

"Lapse of conditional right to securities because the conditions have not been, or have become incapable of

being, satisfied.

Combination of failure and added future performance options.

15:51

should that have been Leonis? :-)

12:06

I would imagine that next "real" news will probably be;

Hickory-1 Post test analysis - contingent resource in respect of SMD & SFS reservoirs , expected Q2 per RNS 15/04/2024.

Progress at Namibia - 2d seismic, expected to commence Mid year.