Member Info for dazzle1000

Rfarfa12:50
I just did a dummy but couldn’t get 3million shares but could get 2 million on bid of 1.14p hope that helps, try buying different amounts and see what brokers are offering...

Dazzle

Zoiberg 9:25

Couldn’t of worded it any better, well said.

Dazzle

From the armchair trader link at 8:14am

“Dave Wall, managing director of 88 Energy, said: “This is an exciting and pivotal time for the company and our shareholders.” Results are expected in the next four weeks, though interim logging results may provide positive news flow. Wall made the announcement just as the Crude Oil WTI Index touched a high of $67.98 per barrel last week, a level last seen in 2018.“

Although brent/wti has dropped a few dollars since last week based on economics and vaccine Indecision (looks like Europe is back on track taken vaccines now fingers crossed) plus opec wisely delaying producing more until end of April, plus unexpected drawdowns from America ( colder weather creating havoc in Texas drilling plus people using more heating fuel ) and other factors to consider.

Thanks to sleepy joe Biden and his meddling plus with banks not giving new loans on oil it’s probably made our acerage even more valuable turning a negative into a positive.

Let’s hope we strike oil and do more appraisals on the other potential 88e wells.

Will we see a tree shake today or will people buy around this level. All to play for at 1p. Looking back the book build on buying 88e shares were massive no way would mm’s bring the sp way down to trick/panic sellers as volume in buying at that lower price was massive ( check out last Fridays bulk buys volume ) so the only way was up to untie LTH with sticky hands to unload some of their shares, some of us braver 88eworriors did and derisked and either will/ have bought in lower now or kept profit until drill news as its better to buy in on good news with a buffer of free carried shares than get locked in for another year.. as there are many other stable shares to trade. Nothing worse than not acting in your instincts from experience and seeing shares go up when you wanted the money but couldn’t due to being either locked in or scared (there is A difference knowing why the shares I’m going up to just seeing them go up and wishing you acted) that my friends is the difference between being well-informed and doing research and letting your ego and emotions blindside you with greed and indecision... it does frustrate me to see some of the LTH wished they had done this or that and repeating the cycle year after year with regrets. not sure where they’re getting the money from to top up all the time, seems very wastefully self-flagellation to me.

There are lots of info on how to read/trade the candle sticks (Steve nison who translated the original 1600th century scripts in the early 1980’s for the banks ) lots on YouTube ..

Keep calm and stay focused and be happy with your strategies. Best of luck

Dazzle

“ The Merlin-1 well will initially be drilled to 1,500', then surface casing will be installed and the Blow Out Preventer system tested. This is expected take approximately one week to execute.



The well will then be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000'. Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation, which is expected take three to five days. A sophisticated wireline logging suite will then be run, including sidewall cores and downhole sampling. Wireline logging is expected to take five to seven days.



If the results from the wireline logging are encouraging, then the well will be completed with casing and a flow test conducted.”

I did a rough calculation up until wire logging around second week starting 5th April 2020, but I’m not sure how long the flow test will be and analysis of results maybe a week or too after, perhaps Garrym might shed some light on this bit.

Dazzle

Thanks for your post Garrym you beat I was typing out my last post as you posted yours, you beat me to it..

Dazzle

Just to get a hint of what we might expect in current rns, my only concern maybe with weather being -20c which hampered the original maguluk drill years before, colder weather makes Steele more brittle evidently.

Old rns: 19th March 2020

“After a minor delay, mainly due to weather, surface casing has now been set and cemented. A mandatory test of the Blow Out Preventer system was also completed successfully, which will now be followed by a Formation Integrity Test. Drilling will then proceed in the 8.5" production hole.



The results from the Logging While Drilling phase of the program are expected to be announced after Total Depth has been reached and initial analyses have been completed, scheduled for early April.“

So yes I would say that possibly expect an rns on Sunday even in oz, or Monday morning 22nd.

Remember we have had a short delay due to sleepy joe Biden and his crazy 34 executive orders (permits)+ harsher weather = a couple of million in costs to us, thanks a bunch sleepy joe what a great way to start your presidency you numpty..

Hope garrym will post his views for us as we Appreciate his insights and knowledge as an oil rig driller.. there is always something to research about in 88ewiki.

Carpe dium
Dazzle

Interesting link on MM’s doing uncrossed trades (UT)

https://www.shiftingshares.com/what-is-an-uncrossing-trade/

88e shorting (short trades ) button located by clicking on the “MORE 88E INFORMATION” blue banner just under the chat icon, select second but last 88e shorts icon. Can’t say for sure about OTC markets but good that people are researching/posting about it as it has had an affect on the sp this week.

The more info we find the better understanding we have for ourselves to make better informed choices.
Defo one for 88e wiki.

Dazzle

Take the bull by the horns and ride it like there’s no tomorrow. Sorry to hear some of you didn’t manage to take profits at 1.5p or above but kudos to you for averaging down to around .65p I’m sure they’ll be more opportunities to top slice/DE_risk/and or free carry if the sp doubles or even triples. Between now and next winter drill

It’s a learning curve and you have to go by your experience and go by your gut instincts And not let emotions of fear or panic take you over. Make sure you stick to your strategies and discipline yourself (self learning) . There are no guarantees in oil exploration only mitigating risks and Derisking to the point of you being happy in what you have invested potentially to loose as well as gain...

Fingers crossed merlin does it’s magic as it will open some doors for us.. if there is more Reddit type momentum I will use it to de- risk it’s possible it could happen again before drilling, just be ready.

1p is a tough nut to crack and it’s being tested this week for support, it might get tree shaked down to .8p ish as MM’s will play on this psychologically, it could hold and see new support and bring in new buyers ..

Dazzle

Average down, sorry

Didn’t you say you have a good down around 0.6p did you sell to derisk more or profit take above 1.5p?

Preference message view thank you very much as it helps me view all messages when I’m thumb scrolling up. Would recommend people try out both message and thread view to gauge their preference to them..be interested in your reply’s but that would be another thread lol .oh the irony

Dazzle

So we and you know it goes to the actual response and not to others on the same thread as it may/ will/ has cause confusion and clog up valuable posting time when things get volitile. Best best precise and efficient.

Dazzle

Looks like a multitude of different investing types can’t rule out anything as possibilities are probable. One thing we do now and I wouldn’t blame investors for doing it is what we’ve been talking about today buying in low around .06 last week and selling of around 1.5p on Monday either taking all of profit or leaving whatever amount as a free ride/carry. To me the only sensible derisking strategy unless your loaded and all in. So those who got locked in at 4p, 3p, 2p and 1p had the chance to avg down this year if they had spare cash as a strategy.. I bet a few are kicking themselves now which says a lot about there investing style and character.. again just restating joffhoggit post “ greed is the enemy of profit”

Dazzle

Newtraderley 9:23
We are only giving you the benefit of the doubt. But I do recommend doing research and looking into what you are investing in and not follow tips on Twitter, great to have a mate to say hey look at this share stock, but know why you are investing and have a strategy which many this morning have given their wisdom to you, it helps to do a bit/ a lot of research it builds character and makes you more informed.. look into 88e wiki research page a wealth of info

Dazzle

9:15 Well done csw12 and kudos to you fir all these years. I must of been thinking of another poster as there are a few who avg down of late, so many post to scroll through to keep track.

Was you tempted to sell when at 4p? And maybe free carry some

Dazzle

Yep a couple of ways of doing this
1: take out £5k and leave a smaller free carry or
2: take out original £2.3k and leave the other substantial half to free carry.
3: take £3.5 or £4K out in cash but at a reduced free carry

All depends if the money (cash is king) is more needed than the risk to reward of drill results. So what ever you take out and leave in as free carry determines your derisking risk to reward strategy..

Hope this helps and please read other helpful post too, the choice is yours alone to make just be well informed and weigh up the pros and cons..

Dazzle

BIG THANKS TO THOSE WHO WERE PART OF THE SOLUTION AND NOT THE PROBLEM.

Have to say I was never a big fan of Simon Cowell but he has tone down his criticism of contestants over the years on how to construct and be objective with out coming across a bully or harsh, point being if gives em some slack and the benefit of the doubt..

Dazzle

We were all newbies once so give a little slack ok, stop being grumpy. When I first started investing 20yr ago I appreciated the advice from wiser souls rather than the piers Morgan’s on this board.

GIVE A LITTLE SLACK
Dazzle

Newtraderley 8:45
Just in case you have missed a few other post and the last few days the current theme being if you have bought at a price that you have said at 0.49p with £2300 then you have more than doubled this amount if you choose to sell at current bid of 1.1p

To derisk and stay in some have taken their original stake (yours being £2300 ) and let the rest free carry on for drill results and or a longer term approach for next year as 88e has many options going for it. WE CAN ONLY DRILL ONCE IN WINTER, HOW MANY DRILLS DEPEND THE AMOUNT OF MONEY WE HAVE IN THE BANK. Wether cashed raised or from revenue of oil flowing. The latter being the better option imho just my thoughts no advice intended. All down to you and the choices you make..

Dazzle

Well done to you and some others for a great strategy of avg down ... very difficult to time with aim casino volitility but you have to take these opportunities to use.. last week was a renewed and welcome wave of optimism of investors and traders who and whever the collective are from. I hope they have read lots in 88wiki which has been a great triumph of info for those needing research and too those who continue to contribute and find topics of interest. A BIG THANK YOU..

Csw12 I know you don’t like giving advice but wondered if you could shed some light on your strategy of averaging down as it may well help newbies and those maybe needing a strategy to mitigate some risk before the drill results..

The Calm before the storm approach to drill results as many us have experienced over the last 4 years doesn’t always meet expectations as things never go smooth or in a straight line, that’s oil exploration in Alaska which has its own particular set of rules in the way you can drill compared to Texas.

IMHO I see 1p as one of those psychological support/resistance barriers that we’ve seen on the charts forming over the last few years, personally anything over 1.5p was an over shoot And the fact people were selling/Derisking Yesterday has contributed to the share price falling slightly down towards the 1p support which is being retested. I am hoping it holds as it shows strength leading upto drill results ( panr being a bonus with their results due imminently) .

As a Lth since 2012 (Tangier’s days) I’ve avg down from 30p and have capitalised on the current volitile movements and derisked my self until drill results, I hope some of you have done so too by not letting emotion get involved and played a blinder by taking profits or free carry which to my point is key in derisking on aim and making a difference between having a good nights sleep or not be pause of the choices you’ve made or not made..

I’m glad there are a majority on here who have kept calm and carried on regardless by helping and supporting the equilibrium and status quo with there knowledge and insights for others less informed. It’s just one big global 88e family although at times we feel we have been locked in together a lot longer than COVID -19

Stay safe, stay calm and good fortunes to you all

Dazzle