Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
"In other corporate initiatives, 88 Energy’s Board will consider in the new year whether a share
consolidation in 2024 is in the best interests of shareholders, and if 88 Energy decides to undertake
a share consolidation, shareholders will be able to vote on this at the 2024 AGM. "
So it will be for the shareholders to weigh the pros and cons and then VOTE, easily done with HL and I am sure most other brokers , so no excuses.
Https://dog.dnr.alaska.gov/Document/Download/E342DF860CA149C9B93192004563CE32/Fall%202023%20Oil%20and%20Gas%20Lease%20Sales%20Results%20Package.pdf
looks a logical move
Winter season now, no daylight hours and temperatures at a level to freeze the tundra.
https://www.timeanddate.com/weather/usa/prudhoe-bay
11:42
Thats one view.
In any case (and in our situation) ANYONE participating ( be they "mates" or not) will expect a hefty discount it's just the way it works and unfortunately my past experience with rights issues were shareholders had the option to participate is not much better.
But of course we do not know what the true situation was at 27th November , how likely it was that Bex would default and how the market may have reacted if we had done mothing.
It looks like we have taken the boof off the throat of Bex but if I am reading correctly the standstill agreement applied to the Toolik River unit only, there are still leases both East & West of the Dalton that would still have Bex as co holder and so the implications of applying the full force of the law at Toolik could have unwanted results elsewhere.
Flow Testing Plan Hickory-1
https://dog.dnr.alaska.gov/Document/Download/8E8797BA87814230BAC7391CD7A3505B/LONS%2022-009%20AEA%20TRU%20Hickory%201%20Frac%20and%20Flow%20Testing%20Unit%20Plan%20of%20Operations%20Amendment%20-%20Approved.pdf
11:07
why not just click on /short icon this page :-)
https://www.lse.co.uk/ShareShortPositions.html?shareprice=PANR&share=Pantheon-Res
17:02
Quarterly Report gave details, as to what has happened to Bex completely unsure, could be as simple as Michael McFarlanes's lines of credit have run out or perhaps he has better places to invest in the near term, suits some to go with the latter of course!
https://clients3.weblink.com.au/pdf/88E/02733682.pdf
As you say short term financial pressure for 88E but longer term could benefit if Hickory-1 flows well.
12:17
The London Stock Exchange does not define trades as Buys or Sells, in the case you quote London South East ( in line with many similar orgs) attempts to categorise trades as buys or sells by us of a simple algorithm.
If a trade is above mid price then it is a BUY, below it is a SELL.
The problem is that it is quite common to see trades all falling one one side or the other of Mid Price.
Based on other trades around that period it looks like a Sell, but even so the trade price would have fallen on the positive side of Mid Price and hence be declared as a BUY.
You can not take LSE's classification of BUYS and SELLS as the truth.
12:00
Surely OTC closed before announcement, suspect EENF will mirror AIM later today unfortunately.
Announcement not a surprise given potential situation regarding Bex, possibly better to raise funds before actual announcement of default, if a default is an actuality.
We need money, without it nothing (good) will happen!
I think that it is worthwhile looking at what Santos (previously Oil Search) and Repco are doing at Pikka but it is difficult to compare directly because we do not know the exact methods by which figures have been arrived at.
Santos are relatively close to oil production and so are probably well placed to know much of their actual costings and that target figure of 80,000 BOPD from 2026 is very different to GBP figures.
Its a bit like the headline price of US$3.1 per barrel proven resource that OSL paid to enter Alaska has subsequently morphed to US$1.3 per barrel as upside proven , things move as projects develop.
Early advise from the company was early Q1, 2023 but subsequently the company has just stated Q1,2023 .
"We look forward to the upcoming planned Hickory-1 flow tests which, if successful, will enable the
certification of additional contingent resources in the shallower reservoirs and move another step closer
to appraising the discovery. We remain on track for Q1 2024 operations for this exciting project.”
Due to location close to the Dalton no probably no reason why ice pad and road could not be ready for January but...
For those interested linked presentation gives detail about how Santos are developing the PIKKA field (80,000 BOPD in 2026) and subsequent developments after that date.
https://www.santos.com/wp-content/uploads/2023/09/230919-Alaska-Investor-Visit-Presentation.pdf
Starting to see sub 20 degrees C, daylight hours ~ 2hrs, tundra freezing conditions :-)
https://www.timeanddate.com/weather/usa/prudhoe-bay