Member Info for chrisev1

I agree. We are all suffering as our expectations were high and it feels we’ve been kicked in the teeth. We don’t need anyone rubbing our noses in it. Just remember, be happy for anyone who does well and have sympathy for anyone who doesn’t.

Also, don't forget gas condensate is not their thing, so another reason to pull out.

I’ve done the same. Invested in 88E and Greatland thinking the drill was going to be a success and then I was going to put all into Greatland. Look what happened. 88E crashed on bad drill results and Greatland has already doubled. It happens. But at least is only a paper loss at the moment.

Maybe we can sink a well down there and bottle it. We can can call it 88 Energy water, “spring water that gives you energy”.

I just saw this link below on Hot Copper. It might explain one of the reasons why Premier pulled out:

https://hotcopper.com.au/threads/ann-petrophysical-interpretation-confirms-pay-in-torok-seabee.5349853/page-43?post_id=44163340

I personally think there is still some oil/gas in or around Charlie-1 but not enough for Premier to be interested. Maybe enough for 88E?

Re: Shaa 13:02

I agree. I am sitting on a big loss and can't sell at these levels, but it's only a paper loss at the moment. I'm just going to buy some more to average down and wait. Might have to wait until next winter but I'm sure it will at least go to 1p at some point. Let's hope for the HRZ. I'm sure/hope the oil is there somewhere.

I don't think Dave will say anything until results from the core samples have been analysed including the HRZ and whether the gas can be commercial. He did say it could take a few months.

A serious question, and one I should know. What exactly is HRZ. I understand it is shale but that is all I can find out. Does it contain oil and gas?
Thank you in advance.

The trouble is we have no oil.

For me, I've lost a lot, but my point is we are guided by DW as he is the MD for 88E and he has an obligation to shareholders/investers to communicate with facts to the best of his knowledge. This is not just for the oil and gas industry but for any company. All during the project Icewine he said oil there 100%. in all of his presentations he showed the targets and where the oil was and this drill is what we have been working to for the last 4 or so years. So how can all the oil disappear into gas? He made a big deal about using modern 3D imaging, etc so what went so wrong? And yet no explanation just the same old 'we will just wait and see, we have other targets, HRZ, hopefully we can hit something'
I am still invested as I can't/won't make such a loss and I am still hopeful of HRZ, commercial gas, other projects but DW we need proper facts and 88E need proper direction.

You’re right, but what I can’t understand is DW said repeatedly there was oil 100% and this was going to be our transitional year. So how come all we got was gas. And more likely not commercial.

It would be good if we got a great RNS tomorrow, 2 years exactly to the day since the passing of Paul.

I agree. Our main concern by far is to prove our oil is commercially viable, price of oil is secondary at the moment . I don’t think the markets will see it that way though. However we still have a few weeks to go before our results are known and for Russia and Saudi Arabia to sort things out. Meanwhile I’m turning my computer off for a week.

Depends which week you are asking about.

I think what also will help is it looks like the markets are starting to recover from the recent losses.

I use Investing.com

I’ve been trying to find out exactly what is the unconventional HRZ shale. Can anyone enlighten me?

Bridgedogg1

I wouldn't wait too long - it is still incredibly cheap.

I think too much is made of the current share price. It is disappointing but there are so many possible reasons, MM's holding this back or keep price low until closer the time of drill, coronavirus, general lack of interest, buyers holding back until drilling, etc. We won't know what is happening with the price until March/April. I believe there will be a spike at some point.
I have just decided to go with the flow and see what happens.

Thanks DW for letting us know!! These are the sort of RNS we need.