Member Info for chrisev1

Hi SeeVee,
Maybe DW was correct in saying it was PMO who decided where to drill. Think about it, DW's main thing are farm outs. If he lied about it then he would get found out quickly and what company would be willing to trust him and invest in a FO? Don't forget DW is possibly going for 2 farm outs very soon.

Desmond45
I thought the independent expert said the price for XCD was reasonable. So what would you value XCD at?

15:05
Not sure where you are coming from but:
Oil up 88 down - 88 today is level.
Merger Progress - Buying similar land at a premium - not just about the land.
Lots more pretty pictures to look at - more than just pictures.
DW good at contracts - yes hes signed a few already.. Better share price for 88? NO! - the more contracts signed does not relate to a better share price.
HRZ a dark horse - so dark nobody wants it - everyone wants it if it contains oil, including yourself, assuming you have invested here.

Thanks Archie.
The reason why I asked is I made a loss of £20,000 but I decided not to sell as it was only a paper loss and I wanted to wait for the full results. With all what's happening in the back ground I can see the price going to at least 1p for the next drill(s). I averaged down and now my break even is 0.88p.

Hi Archie,
If you don't mind, can you tell me the price when you sold them for? It's ok if you don't want to.

The results so far seem very encouraging, but I am keen to wait and see the results in a few months for the full results, including the HRZ shale. There is a lot going on this year building up to two potential drills in 2021. Needless to say I am more hopeful of positive results than I was just a few weeks ago.

Exactly. Well said.
May I also add for some posters to reframe from giving personal insults and swearing as this is offensive and not becoming of anyone decent.

There’s a lot of technical stuff but yes - DW is saying PO chose the location and we drilled in the wrong place. He has already said in his podcast within 2 weeks the possible FO for 2021 will start in order to drill in the correct location.

00:19
It’s more than just a punt. There’s a lot going on and we are at a low price.

I think you need to listen to the recent podcast. DW clearly says the initial results from the drill had been delayed by just a few days and that means due in this week. The takeover will be finalised on 18th June I believe.

£10.67k value bought, £306.68 value sold and only 11 trades yet 1.69% down. Classic AIM.
LOL.

I'm sure DW said in the podcast that in the next 2 weeks they should be starting the process of the FO for Charlie-1 for 2021, but in a different location. So the results from the current drill must support oil or he wouldn't say that. He must know something that he can't tell us just yet.

Hi Shaa,
Again without knowing all the facts, it looks to me that PMO had to prove the oil is commercial or walk due to oil price crashing. They needed to cut costs urgently. From the initial results it was clear they weren't as good as what was hoped. DW knows there is oil and is prepared to drill in 2021. How much oil is another question, but as he says he is prepared to take the risk.

One of the points that interested me was a strong hint that more oil is at Charlie-1 and they have not given up on it. Quite the opposite. The 'free' drill will provide vital feedback to where the oil should be as the drill wasn't done at the optimal part of the well.
There is more going on behind the scene than what we don't know and DW can't tell us yet.

Gusher,
If you think the financial regulators are going to be on DW soon, are you saying he is running the company illegally?

That’s what I thought he indicated.

I've just listened to the podcast - sounds positive. A lot going on. But we will get a better understanding in the next few months. Results next week will be interesting.
GLA.

11:37
You might be right about DW being a money man and I hope you are. From my limited experience most good MD's are accountants.

11:14
But he could still be worse than DW. This is one of the reasons why the takeover might be good. There is a lot of experience there. I don't know if they are any good, but...

Hi SeeVee,
I understand your points, but my original comments were directed at 88E as a company in general. but, if I may, try to answer your points (I maybe completely wrong on my answers but this is only my view):
1) My investment is worth a tiny percentage of the original amount - appears we have just had a bad result in not hitting commercial oil (just my opinion as the final results are not available yet). SP tanked as many have cut their losses and sold. May I ask what your average is?
2) We are invested in the oiliest place on earth, and Davey Boy can't find any oil on a site made up of hundreds of thousands of acres - we have a lot of acreage but I takes time to find where the potential oil is using 3D etc.
3) He is still earning a huge salary, and the only thing changing is the date!! - I thought the BOD were taking a reduction in wages?