The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Looking like a solid but slow uptrend since the news of the RI, news of undersubscribed shares hasn't (yet?) pushed the price below 1p. Dispite the doomongerers today, I feel optimistic for the next couple of months for the FO & next year for the drill. :)
Ilike the bit:
"The announcement comes after a 3D seismic inversion mapping of both Icewine’s shallow and deep horizons, coupled with highly accurate rock trend models, quashed fears about reservoir quality, a central concern to 88 Energy’s over £7.9 mln exploration project."
DW says "Reservoir quality had been deemed a key risk factor, particularly in the deeper Seabee and Torok formations, due to depth of burial and compaction."
Then goes on to say "However, based on the regional Brookian porosity / permeability trend and results from petrophysical analysis, potential for productive reservoir has been identified in both the Schrader and Torok sequence at Icewine. For example, the Middle Stellar discovery in the Torok at Icewine has average permeability ranging from 6-30md (based on 18.3% porosity) and up to 180md (based on 21.8% porosity). By comparison, the 2016 Tinmiaq#2 well has an average permeability of 11mD and average porosity of 17% (based on core data). Tinmiaq#2 was fracced with ~50,000lbs of proppant in a vertical well and flowed at 3,220 barrels of oil per day."
Historically, this doesn't seem as risky as IW2, so I'm nvery happy :)
Got a small knee op htoday so this RNS is just what I needed :)
Quite the opposite whojamflip, I am a currently disgruntled investor, at least as far as yet anther cr that supresses the sp is concerned, but will point out that drilling is planned & permitted for Yukon & Icewine Q1 & H1 2019 respectively.
Like I've said before confidence & SP is at its lowest for quite sometime, which feeds into your theory about DW using a cr to bring the price down to make it really appealing for frinds to come in to snap up cheap shares before some interesting news.
That wasn't drilling, that was flow testing, two different things, as I've quoted:
Icewine conventional: • Permitting in place to drill 1H2019
Yukon Gold: • Drilling scheduled for 1Q2019 – covered by current cash position
The one thing I do take issue with is DW continually saying "covered by current cash position"
From the last pdf presentation:
Project Icewine: Unconventional - HRZ
• De-risked by two wells with results to date encouraging and consistent with early
stage results from other successful plays
• Farm-out process underway to fund further appraisal
Project Icewine: Conventional
• Interim 3D seismic interpretation led to large upgrade to conventional portfolio
• Multiple leads promoted to drillable prospects
• Farm-out process underway to progress exploration and appraisal program
• Permitting in place to drill 1H2019
Yukon Gold: Existing Oil Field Discovery
• Low cost acquisition of existing oil discovery, close to infrastructure –assessment
underway based on recently acquired 3D seismic (April 2018)
Western Blocks
• 400 MMBO prospective resource, gross mean unrisked, 3D seismic defined
prospect in successful Nanushuk Play
• Drilling scheduled for 1Q2019 – covered by current cash position
North Slope Projects