Member Info for dai2belts

Unfortunately this vertical flow test will require further horizontal flow testing as its just to prove the stimulation method..

Or maybe they are just building the resource estimate to sell on

QED after hours RNS tomorrow maybe

Looks like they are fracking after all, I don't really them mentioning that before, but maybe I have poor recall, woof

@Parkez, hot standby is probably like summer time, when your classic car is ready to go on the next dry weekend..

The rig is mounted on its own carrier so can transport itself, if it does require transportation then as a single load its likely to exceed weight limits and will probably require breaking down into two loads..

Lol KevR, that will trump He1's rise

Noble, " In parallel, we will continue to advance our commercial negotiations towards securing a leased plant and offtake agreement. The production requirements are small, only 0.2 bcf per annum and just 2 bcf to underpin a significant and company-making 10 year contract - which is well within reach."

That's 200,000 mcf/year opposed to Itumbulas calculated flow rate giving approx 8,500mcf/year

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02752865-6A1186047

@KevR

Cost savings mentioned immediately before saying no raise.....

"88E is fully funded for the flow test. No CR is planned during the flow test. " ==> No raise DURING flow test

"As previously commented in the December 2023 update released to the ASX a consolidation will only recommend it in shareholders interests, we have made no further public statements beyond this. " That means the big share holders not the little pi

this is really two statements

"- The company is fully focused on delivering a successful Hickory-1 flow test result and creating long term value for shareholders across all its assets in the portfolio. "

so

" The company is fully focused on delivering a successful Hickory-1 flow test result ". ==> the flow will just confirm their 2022/2023 results as historically they know flow rates have been 50-100bopd, not commercial but adds another years wages, and further dilution..

" creating long term value for shareholders across all its assets in the portfolio. " distant values, years away at this rate, so for the well timed share holders,

looks like they are running to the maximum time lines for each task....

Maybe a Update on ASX tomorrow night

@KevR

Cost savings mentioned immediately before saying no raise.....

"88E is fully funded for the flow test. No CR is planned during the flow test. " ==> No raise DURING flow test

"As previously commented in the December 2023 update released to the ASX a consolidation will only recommend it in shareholders interests, we have made no further public statements beyond this. " That means the big share holders not the little pi

this is really two statements

"- The company is fully focused on delivering a successful Hickory-1 flow test result and creating long term value for shareholders across all its assets in the portfolio. "

so

" The company is fully focused on delivering a successful Hickory-1 flow test result ". ==> the flow will just confirm their 2022/2023 results as historically they know flow rates have been 50-100bopd, not commercial but adds another years wages, and further dilution..

" creating long term value for shareholders across all its assets in the portfolio. " distant values, years away at this rate, so for the well timed share holders,

@digitalman, the way they communicate funding...

They announced being funded to drill Itumbula as they started wireline and logging of Tai, then announcing funding was required they talked about contingency funding to ensure they could complete Itumbula after spud...... All that suggested a top up.... but it was a full blown raise.. without the protection of an ASX trading halt for some reason they announced it early, but it's the only time...

15th Nov, (but Fully funded vs Funded)

"The year ahead promises to be an exciting one. We are fully funded for our ongoing drilling campaign at Tai, the results of which will soon be published, and are funded for the follow up well at Itumbula."

15th Dec

......the Company has undertaken a full cost analysis and budgeting exercise in order to ensure that, once spudded, the Itumbula well can be successfully drilled as planned. In undertaking this costing exercise the Company has been cognisant of the "contingency" funding that "may be" required given the significant additional costs and time delays encountered during the drilling of Tai-3.......

Letting out the rig?

Lorna didn't give the reason people were viewing the rig.

If you compare He1's cost of drilling as an owner compared to Nobles hire then selling could be an option especially if the Marriott rig remains in country as previously stated...

I doubt there is much left of the $8.7m as for the raise, 20th Dec they wrote

"The proceeds of the Fundraise will provide up to an additional 3 months working capital including the drilling of the Itumbula West-A well."

Which explains the haste to raise the extra 4.7m..

Well I simply can not believe it.... 🙀

RJ is being accused of encouraging people to sell 😹

DELT, I am watching too, missed 28p to buy in...

QED likes to double even multi-bag, especially after a good downward trend usually reinforced by the BB LTH.. Its now down 50% from the recent high, so 100% to get back... It has a delayed news and a fundraise playing on sentiment

Copied this from the link provided on 88e BB...

Seems some possible word play in there.....

https://stocktwits.com/almasyafai/message/565109360

We appreciate your email and note your comments around the phone answering service. We receive a large volume of emails and as such it may take time to respond, and we apologies for delays.

Below are responses to your queries:

-As noted in the last Hickory-1 Update the company will notify shareholders on commencement of the USFS testing procedures. Well bore preparations are being finalised. There are no changes to the planned program.

The exact timing of the notice of the AGM will be dependent on remaining reviews and approvals. It is scheduled for release in March.

As previously commented in the December 2023 update released to the ASX a consolidation will only recommend it in shareholders interests, we have made no further public statements beyond this.

Cost savings are already being implemented, including a reduction in 88E's salary costs and head count. The full benefit of these savings will be realised over 2024.

88E is fully funded for the flow test. No CR is planned during the flow test.

- The company is fully focused on delivering a successful Hickory-1 flow test result and creating long term value for shareholders across all its assets in the portfolio.

Regards

88 Energy

Dodgy word play......

Found this example

"I recall Dave Wall when asked about whether a capital raise was needed, back in the Icewine campaign.

He replied no, then proceeded to raise capital within about 1 day, when later challenged on this. It turned out 88e did not need capital, but did want capital"

@VikingGlass, they allotted roughly 300m shares at the AGM, and it looks like they used them up on the last raise...

But at that time the shares in issue were only about 900m, so that 300m 1/3...

But 1/3 of the 2.4b is nearer 800m,, so do they have headroom or not...

If another cash box is coming, it could be at another big discount.. ??

@VikingGlass, your funny, were we all t u r d s last night, luckily we all have skins like rhino's ;)

He1 are giving too little info, no mentions of reservoir, seals, or much about the source of the gas (fluids I believe)

So all we know is..

· Drill stem test ("DST") results carried out on the Itumbula West-1 well calculate a minimum flow rate of 0.5 million cubic feet per day ("mmscfd") - "containing"- 4.7% helium

doing some maths... and check my figures, they can't be right, with all the hype from the media..

. 0.5mmcf (calculated ?)

500,000 scf/d, at 4.7% = 500,000 x 0.047 = 23,500 scf/d or 23.5 mcf..

Since they mention using off-takers who will get top price $/mcf, as they need to refine the helium before selling to end customer, lets give He1 $250/mcf

23.5x250= $5,875/d, maybe $2m annually,

Maybe more $3m, just guessing.... before royalties, carries, and taxes, forgetting Capex and open

For every well they have drilled, they have raised $6m so far...

I must have my figures totally wrong,

@Nigel, not sure you need to convert to litres as the price is $/mcf..

Since they mentioned off takers I doubt He1 will get the those top prices being quoted, but maybe they will sell directly to the end customer....

Just need to guess the bottom, as Proactive & Lse have been convincing people its already commercial, so there is going to be plenty of upside from the next placing price, unless that 0.5mmcf rate steals the headlines....

but maybe that's intentional as they quoted the minimum flow rate, and remember that x20 Bg or 0.01% turned out 4.7%..

And that No Wig update, and announcing a fund waise weeks eawly,

@Swissy QED could bottom after a fundraise, mind you last time it continued to drop..

Looks like He1 could be heading for a bottom ...

No mention of a gas cap, reservoir rock or seals

She talked about artificial lift, makes me think they will be lifting fluids rather than pumping pressure into a reservoir ...

Unconventional play, talking fractures and faults makes me think they are intending to exploit what's migrating through the cracks(water maybe)

Smaller production facility, already down sizing and looking for revenue to keep the lights on, after all the AIM pi will pay for it all..

EWT to confirm a discovery, rather than EWT to appraise discovery ?