Member Info for dai2belts

Void, Only if Alf could attend the AGM ;)

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I don't know, its AIM, I am beginning to think its more about the potential to multi-bag, from a bottom.
So there is that 0.65p low, at that price everybody will be buying good volumes, lighting up the CNBC ticker day after day, thats some media coverage... lol

Its probably the placing holding back rather than permits as 88e have a good record for drilling..
A discounted placement, then a bigger low to start from.....

Once those permits are granted, its just a question of when, unless that rig is damaged..
PANR seem to have de-risked the drill..

Then the well is not going to have that line of fear " plug and abandon", it is going to be finished for re-entry...

look at MATD, x4/5 access issues, and rig uncertainty... who knows..

Looks like they did two raises for one of the original Ice-wine holes, to help fund the drill, and another to cover unexpected costs, and other stuff.. $11m, then $17m back in 2017,

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Looks like might enough cash to drill hickory
Exploration and evaluation expenditure of (A$16.4M)primarily associated with Merlin-2. only thing this does not appear to be one of the original Icewine wells ??

The ASX Appendix 5B attached to this quarterly report contains the Company's cash flow statement for the quarter. The significant cash flows for the period were:

· Exploration and evaluation expenditure of (A$16.4M) [December 2021 quarter: A$3.1M], primarily associated with Merlin-2 drilling operational activities at Project Peregrine
· Investment in Project Longhorn of (A$10.7M) with first cash distribution of A$0.6M
· Net Proceeds from oversubscribed capital raise of A$30M
· Lease rental payments totalled (A$0.8M)
· Administration, staff and other costs of (A$1.7M)
At quarter end, the Company had cash reserves of A$32.6M and no debt.

https://www.lse.co.uk/rns/88E/quarterly-report-and-appendix-5b-mehitvakdgsw2xp.html

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@KevR. 2x bags on buying back cheaper ;)
Need a crystal ball...

.>Hickory-1 exploration well scheduled to spud on or around 1 March 2023
>Permitting and planning on schedule to be completed end of >>>January 2023<<< or shortly thereafter,
>with the final well cost anticipated to be lower than the previous Icewine wells on the acreage
> Drilling rig contract executed with Nordic Calista for Rig-2(at PANR)

Corporate
· Cash of A$14.1M and no debt (as at 31 December 2022) (Last Placement August 2022 raised A$14.9M)
.Cash of A$32.6M and no debt (as at 31 March 2022).
>>>>>>March 2022, Merlin hits TD, cost ??..
>>>>>>>>>> March on 3 wells in Texas (Gross capital development activities costing: from US$0.7 million to US$1.4 million depending on the type of drilling or work-over performed.)

Mmmmmm. when is that placing coming??

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88e
Today
https://www.youtube.com/watch?v=IQtn6X7Qt2g

May 22
https://www.businessnews.com.au/article/Nearology-report-enhances-Alaskan-acreage-for-88-Energy

April 22, Talitha SMD formation
https://www.businessnews.com.au/article/Pantheon-well-tests-auger-well-for-88-Energy

https://www.businessnews.com.au/article/88-Energy-reveals-billion-barrel-resource-in-Alaska

@sdg1970, its bad news all those contractors coming forward, I guess will need to hire a company to do the DD on each, but first we will have to do the DD on the DD company, which brings us onto the question of their DD...
No worries, we can expedite, it makes sense...

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@Tro, MMMmmmm, We only knows what we has been told, so partial facts, thats the trouble we get a one-sided story, the real risks left out until they own the situation..

Its 2 failed drills from 2, complications on both, excessive pressures on the first which they could not safely control , and now sticky mud... Engineering and planning seems to be the weakness...

I would guess mud weight controls pressure, and viscosity deals with sticky..

Testing MOU-1 will be interesting, RNS seems a little waffley, not sure how they can determine connectivity between two wells, from a single point, especially if drilling confirms the seismic..
Drilling proved i3e seismic interpretation was wrong ..

"As a result of this the MOU-1 perforating and testing programme will be more focused and extensive in the principal zone of interest to determine potential connectivity with the seismically defined area of the Moulouya Fan between MOU-1 and MOU-2 that is interpreted as potentially gas-bearing."

"The MOU-1 testing programme is being progressed and revised to gather as much information as possible on connectivity of potential gas sands over a wide area."

And I guess they still have that excessive pressure to deal with..

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88e must be on for a discovery,
a bit confused on slide showing SFS formation without showing PANRs well
https://www.youtube.com/watch?v=IQtn6X7Qt2g

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@KevR, why risk BOIL, downside is about 0.14p, so from 0.19p, your entering at a high, risking near a 25% loss..
4 weeks 88e, should be drilling, if there is a raise, a discounted entry, you should have your second 50% gain on your PRD stash, with a fair chance He1 still waiting..

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@KevR, if 88e gets a bid price of 0.75 before that raise, that will be offering me my 1st 2023 50%er, with a raise offering the chance to buy back cheaper it will be extremely tempting...

Not sure how the MM could justify such a big drop on PRD, with MOU-1 testing to be done, and MOU-2 not being written off with rig remaining on site ??
Nice opportunity for you though ;)

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@Tro, I read on old report for valuing PRD, for a number of successful producing situations, 1 gave a share price of 8p..
So that stuck in my mind, as the price...I did'nt read much more than that..

Trying to think of another, where the original valuation was no where near that being pushed by the house broker near drill time, might have been EME.. that was a duster. although ramped by RNS until results day..

@KevR 3.63p, 50% is 5.45
3200 to 5000, about 56%..
Just another 11 to bag x129,

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@KevR, your bad, lol
On PRD telling people you have made a good profit, others have been taken to the cleaners with DM style ramping..
Its great to do well, but your entry was at someones loss, and if you sell before the next bad news, then you have left someone else with the bags....So your kind of rubbing salt into peoples wounds...

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QFI, apparently not got both fuels through Moroccan customs, oddly the fuel for phase 1 is held up, while phase 2 fuel is on site....Nice excuse, but questionable, will it be dragged out until MSC starts???
No wonder the BB continually moan..

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@KevR. looks like you got the 1st 50%er for the year, or abouts, not to be sniffed at....
Why do you thinks its going to go higher ?

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I see PRD was not listed on the top fallers board..?
Also they have done what they did on MOU-1, released an RNS thats really difficult to conclude..
Then you had people buying, claiming success, others shouting duster..

Seems odd, this was supposed to be a huge resource, something special, yet not prepared ..sounds familiar......
If they made it through the sticky mud section to sand, then case the section, thats that issue resolved..

Questionable ??
"re-evaluation to achieve a more >>cost<< effective rate of penetration."
"The debris flow potentially forms a highly effective seal"
"thickness of the Moulouya Fan reservoir interval is expected to increase between MOU-1 and MOU-2"

Void, been thinking, since we never got our rig, I doubt DM spent much time in Tanzania, so probably that bonus was really a company perk, UK winter heating allowance, just unfortunately they called it a bonus which was'nt good for PR....

https://www.youtube.com/watch?v=AlKt6TnjGgU

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I have PSN in my watch list

QFI keep moaning lol

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Thats your job, to educate me
Downtrends, Mmmmm I have Gcat lol
Was checking out Syme last night, that bounces off its all time lows, 18% today on RNS update that may benefit the company, some new regulation for Italy...
Zioc, did'nt seem to do that 2020 multi-bagger thing..

Advantage of bottoms, you don't get dusted....

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@Tro, that mining video, straight away points out one of my bads, :(

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you often type wti so its the new wbi ;)