Member Info for dai2belts

@Scott22, Out of interest do you have a link to the article that gave you that impression ?

@Horult, whats your hunch ?

I see some false claims suggesting management took 6m options, when nobody has a clue who converted those, or if they then sold...

But news will be coming,

Pad, and equipment move

long lead items

Crew

Rig thumbs up after some testing, probably mast up and windscreen wiper test

SPUD

Show

TD

Start of logging

Indications of/or discovery, samples sent off

Discovery,

New Tai CPR

Flow testing

Duster ;)

Where will the raise fit in, ?

Interesting, mixed messages, back to the well is being finished for re-entry and production level testing, so no need for an appraisal well to prove flow rates..

But good news...

But also LB said they would take a sample and send it off for analysis while Tai-1 they gave Helium concentrations on-site during the drill...So will they announce a discovery on-site before independent analysis..? Or will this be a delay tactic to raise...??

Not sure the point of this interview, seems we are still waiting on items and crew. and did not clear up why those couple of trucks that were being looked at.. Still not checked the rig over by the sounds of it.....

Mike only now turning up makes you wonder who is running the show, with so much going on....

17 trucks, thats a lot of parking space, could be the reason for the large pad if they are staying around for a few days

Could have bought at 10p low, x3 ?

Long drill, I hope it gets exciting on the BB as its usually quiet..

He1, odd we mention the depth and casing limits, and thats commented on, and we questioned 17 trucks which now sounds the whole setup..

Not saving money if they have 17 trucks on hire for weeks while waiting for the pad to be completed..

So yesterday a £50K buy, followed by an interview ?

@KevR, Louis is really popular on PRD at the moment.. lol

In the tread, 1st post by Paul

Whilst we wait:

The well is located on Eggakanten in the Norwegian Sea, approximately 47 km southeast of the Aasta Hansteen field. The shortest distance to land is 187 km. The sea depth at the location is 475 meters MSL. The activity will be carried out with the semi-submersible drilling rig Transocean Norge. The earliest planned start of drilling is 1 August 2023.

The purpose of the exploration well is to investigate the hydrocarbon potential in the Intra Nise 2 formation in the upper Cretaceous sand layer (Velocette prospect). In the event of a discovery, gas/condensate is expected in the Velocette.

The well is planned to be drilled as an S-shaped deviation well with the hole sections 36" x 42", 26", 17 1⁄2" x 20", 16" x 17 1⁄2", 12 1⁄4" and 8 1⁄ 2" in the main well, as well as a sidetrack with 12 1⁄4" and 8 1⁄2" hole sections. The sidetrack is included as an option, and will only be drilled if hydrocarbons are discovered and the gas-water contact cannot be demonstrated in the main well.

Well testing (DST) and core drilling given a discovery are planned. The main purpose of the well test is to verify reservoir properties and flow profiles of hydrocarbons in the Intra Nise 2 formation.

The duration of the operation is estimated at 50.8 days if the well is dry, and at a maximum of 117 days if hydrocarbons are discovered, including well testing and drilling of the sidetrack.

The well will be permanently plugged back and abandoned after the end of the operation.

@KevR, I seen that linkedin post, they did'nt come across as the drilling crew, but more like a replacement for MIDAK, so maybe now Mike is on board, Midak is hibernating, as the only company you could find reference to was He1 on Midaks twitter feed, all the other projects claimed to being going on, no specific tweets, all odd...

LB mentioning a couple of trucks being looked at, well rig wise, is she referring to the substructure which needs to unfold and transform into the drilling platform ? And the skate rack also has the unfold and then provide the rig with drilling pipes.. If these have been standing around for years they may need some greasing up...

If she did say the rig itself requires 17 truck loads, then that makes me think she does'nt have a clue.. If she said the rig and all logistics then I would have more confidence in her perception of things.. Its a little worrying after that Friday update, which I would rather be intentional than a balls up...

ALL, £120MC, and providing no details of ML discussions ?

Another thats punished its LTH, is this dropped justified?

@Art123, With who and what sort of account do you use for your short positions ?

I see IG have a practice account but it does not replicate margin calls which I have been led to believe catches lots out on AIM, is that right ?

Another in my list that I have simply watched because its too early, dont they realize that lol...

I have been punished too often getting in early...

So any ideas whats made this such as a mover ?

Here is a great info about the drill, courtesy of Paul

UPL is flying again, now a triple bagger

I listened to the liberum interview, Mmmmmmm

I thought she said the Rig itself is split across 17 trucks, and a couple are being looked at...??

I thought the rig sits on 1 truck, the skate rack(Pipe loader) is transported by a 2nd , the sub-structure by a 3rd...I would guess for the later 2 and other equipment the trucks are just hired tractors and trailers.. So exactly what are they looking at, did the audit cover the substructure and skate rack ?

Picture 4 shows the rig, and what looks like the substructure with its walkways sat on the floor, out of sight or not shown is the skate rack..

https://www.drillingsupplieseurope.com/product/atlas-copco-predator/

I thought she also said still waiting on long lead items, is that well control equipment or drilling pipes or both ?

No crew details, they should know who is supplying the crew by now?

Also sounds like they used a good bit of the funding, I was under the impression from DM that the well was being finished for production to save costs and time, now I get the impression we are drilling a cheaper pure exploration well, to be followed by a new appraisal well after listening to the talk that those wells are designed differently, but we know if they wanted they could design the well as they wish... So it probably means further Tai drilling next year,

And suggesting the rig drills to 2400m, that maybe so but it is limited depending on casing size...

Not sure why they did that interview, nothing to update, and did'nt sound confident

@Tro, no activity drift down plus that seller that has often off-load below the bid, but above this offer price... But you have to be a holder to get the discounted shares... So maybe they were gambling on the price moving below 0.31p, or a different type of raise or both or just off-loading ??? who knows..

Orrs fund raise, confusing..

They are giving away 26% interest in the company for approx £1.7m, then giving this £1.7m to the new investor as security. The investor will then provide a monthly payment depending share price performance...Is that right ?

Was thinking of trolling He1 BB :)

https://www.youtube.com/watch?v=b_vh4atOp5Q

Makes a change we dont have to buy the discounted shares at a premium from the institutional flippers, this is a first in my limited experience..

I thought that, AIMers dont need a prospectus, but 88e have given reasons why they dont need one..

The total consideration under the Offer shall be less than, and therefore cannot exceed, €8 million (or an equivalent pounds sterling amount) in aggregate and so, in accordance with Section 85 and Schedule 11A of the United Kingdom's Financial Services and Markets Act 2000, as amended (FSMA), the Offer does not require the issue of a prospectus in the United Kingdom for the purposes of the United Kingdom's Prospectus Regulation Rules (PRR).

The Offer does not constitute an offer to the public requiring an approved prospectus under section 85 of FSMA ....

The communication of this announcement, the Offer Document, and any other documents, announcements or other materials relating to the Offer, as a financial promotion has not been approved for the purposes of section 21 of FSMA and, within the United Kingdom, the Offer is only being made to, and may only be acted upon by, those persons falling within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, which includes existing members of 88 Energy Limited.

So when people shout He1 have no headroom to raise, or can't raise, I am skeptical especially after seeing all the raises PRD have done with no headroom.. Seems there are plenty of get outs for AIMers