Member Info for dazzle1000

Dave Wall: I think it said the same thing just earlier. That looks like we'd get after drilling a horizontal well from the pad as a follow-up to Icewine 1 and 2 from the same location and then we look at expanding or building a new gravel pad from which drill the four wells with the one gas injection well. Then, we look to delineate to the eastern west. Not all of those wells, theoretically, if we can line up the ducks, could happen starting from the first quarter of next year. We probably wouldn't be able to execute them all at the same time, so there'd be a priority on which one is going to have the most value. That could probably look like the horizontal well as a low-hanging fruit to follow-up on the vertical success, and also the delineation wells to try to get our arms around the HRZ and our confidence level in the mapping.

Dave Wall: It depends. Say if it's partial success which we understand why it failed and we think we can do better, we would fast track the drilling of the next well. We're looking at Q1, Q2 next year, realistically. The way the permit works is that most of the major permits allow us to drill another well pretty much immediately from the pad. Permit to drill is something which takes a couple of months to put together. It's fairly complicated engineering document. It usually only takes two to four weeks to get approved. Theoretically, if we understood everything immediately which isn't going to happen, within three months, we could be drilling another well and also access rigs and all those things, and funding. Realistically, it's going to take longer than that.

Dave Wall: The other thing that can happen as well is, say 75 barrels came. We still got 10 years on most of those leases. We'd go and look at the conventional, and potentially, there'd be a technological advancement which would mean that we'd be able to come back and say, "Well, actually, those guys were only getting 75 barrels and now they're getting 200. Maybe we can apply that technology." That's the thing at the moment, the way that technology is advancing not just in oil and gas but in every field, it's pretty phenomenal. That's something that doesn't mean the project is 100% dead. It might be dormant, so it would push out that timeframe we're talking about. Paul Basinski: The real key to Dave's point is that we know we have an extraordinary resource in the ground. We've not shown this to anyone in Houston or anywhere that doesn't agree with that. The point is you got to start with that. If you don't have that, then, really, the rest doesn't make any difference. We have a compelling resource that is very difficult to find anywhere in a western country.

Kangaroos very interesting post...nice to see a distinctive point of view.. refreshing to say the least...plz keep posting as often as you can. .... dazzle

Got some spam emil from a legit company... stuart@cupaz.com via dropbox... dont open the pdf ... i have rang the cupaz company and they said its spam. ... best regards dazzle

HUGE SHALE PRIZE DeGolyer and MacNaughton estimated that the shale play could produce over 1 billion barrels of oil, if successful, and that was when the Company only had 271,000 acres – now it has over 475,000 acres. So the size of the prize is definitely something that should attract the attention of a large oil and gas company. Bring on the flowback of the well… VIEW AGM And if that was not enough – almost 2 billion barrels of conventional potential The conventional potential is located in arguably the hottest conventional play fairway on the planet. A play called the Brookian that has generated discoveries totalling over 4 billion barrels – all since 88 entered into Alaska. These were drilled utilising 3D seismic and there has not been a dry hole drilled in the play in the last 4 years. 88 Energy now has 3D seismic of their own and is targeting a farm-out in the second half of the year. Given the uptick in oil price, the recent discoveries and the US$850m transaction by Oil Seach on neighbouring acreage, it is fair to say that the Company is confident of executing a compelling deal on their acreage, which could see 2 wells drilled in the first half of next year. VIEW OPERATIONS UPDATE Yukon Gold – some icing on the cake Just to top it all off, the Company was able to pick up some recently expired leases which contain an oil discovery, called Yukon Gold. The size of the discovery remains uncertain, but with recent (2016) infrastructure connecting to TAPS nearby, it would not take much for this to be worth considerable value. 3D seismic was also acquired in this area early this year to determine the size of the prize. Watch this space… Summary So with two multi billion barrel plays and a conventional discovery, 88 certainly has its plate full. Not to mention the location, North Slope of Alaska, where 17 billions of barrels have already been produced and the recent Brookian play has replenished over 4 billion barrels through discoveries in the last 4 years. The upcoming test of Icewine#2 is the near term focus and will be a significant test of the HRZ shale play, which the Company believes it can farm out based on prior work as it is now just a question of getting the engineering right on the well design. Beyond that, investors won’t have to wait too much longer for additional news related to the conventional Brookian play, where a farm-out is also targeted in the second half of the year ahead of drilling in early 2019. And then we should see some news regarding the oil discovery, Yukon Gold, towards the end of the year. With the price of oil increasing recently from $50 to almost $80 per barrel, there has been a surge in exploration spending, which has been almost zero for the last 3 years. 88 is well placed to capitalise on this increased interest and Alaska is now hot property. One to watch in the near and medium term…

Part3: Yukon Gold – some icing on the cake Just to top it all off, the Company was able to pick up some recently expired leases which contain an oil discovery, called Yukon Gold. The size of the discovery remains uncertain, but with recent (2016) infrastructure connecting to TAPS nearby, it would not take much for this to be worth considerable value. 3D seismic was also acquired in this area early this year to determine the size of the prize. Watch this space… WHEN DAVE SAYS WATCH THIS SPACE THEN ITS HAPPENING IMHO. ..REMEMBER HE WAS ASKED IF HE IS BUYING ANY SHARES..NOPE GOT LOADS OF OPTIONS INSTEAD. .WATCH THIS SPACE. .regards dazzle

Part2: "88 Energy now has 3D seismic of their own and is targeting a farm-out in the second half of the year. Given the uptick in oil price, the recent discoveries and the US$850m transaction by Oil Seach on neighbouring acreage, it is fair to say that the Company is confident of executing a compelling deal on their acreage, which could see 2 wells drilled in the first half of next year."

This snippet interested me.. food for thought. ... "Now that same flowback is scheduled to recommence in less than two weeks. The Company will utilise artificial lift, with nitrogen injection, in order to increase the rate at which the frac fluid can be drained from the reservoir. Once this has occurred, the fluids in the reservoir will be able to flow to the surface naturally, giving an idea of whether the next step in the program is worthwhile pursuing. This next step it to drill a horizontal well, with 15 or more fracture stimulation stages. This horizontal well has already been permitted and the Company has stated that it believes it can get someone else to pay for this via a farm-out." .......... https://sg-mktg.com/MTUyNzYzOTgxOXxvaENGVXZZZU1scWZURE1uNnptUUNWcVBLNXV2MkpFTXBzY05QR3FNT0NwUVAzTnMxLWhia3hjdjJCYUNHRWF6U0VCbm9YcmdaSGMzWGlNci0zY3BxZTV6VjZ3cW5ZLW5GS1ZDbTVNbWI0bGNXQmRJbVBNVWZLdFNnREdSVWdHQk4xSnN1SkRuRFk3eWVwdEJvRExOeU0xRXE3UzEyXzMxMlRjRVB4WDNkQjB1MllNOC1OcnltbUJOV0hiY3pKak12QnBlNlhiQ09sSC1iRlFDZWZGVkJQa1JvN2MtTGhoajk4VktBRHRjNmxSNjgzbklISVRadldyUTRoTDlLaU1kQURXdTJwZWp8oOJcS1eIaxOdoVS8mDiG-3NQF2yFs4c_pnhnhe09H7M= ........BEST REGARDS DAZZLE ps sorry for long link

Farm-out

Video proof from dave wall @ 19:55 min...from dion88 in hotcopper https://hotcopper.com.au/threads/lse-tonight.2718735/page-10046?post_id=33487648

Responding to a muppet/troll : sharebogan said: ↑ Sharebogan, funny you bring up a consolidation when the SP his heading north while commenting on a completely unrelated topic.. I remember seeing your question in the Q&A which was sent off to DW towards the end of last year. In which he responded that a consolidation could be possible at some point but now isn't the time. I also remember there being more recent talk or DW had mentioned somewhere that by doing a consolidation and possibly stripping 10-15% off the MC would be the wrong thing to do by us shareholders. Has anyone got a link for this?......... i was there at the GLOBE FEB 2018 WITH LOADS OF OTHER 88E INVESTORS WHO HEARD DAVE SAY NO WAY JOSE IT WOULD KILL 15% OFF OUR VALUE STRAIGHT AWAY...... so in a polite way to all and sundry ...case closed and end of trolls who bash and scare....regards dazzle.....ps 3p by friday ;-)

After an extensive test and 12 months to factor in a 70% decline rate on shale... conservatively your 500bopd target will be reduced to 150bopd.... unless of course your figure WILL be the overall flow rate not stable rate then 500 is huge which means the stable rate wpuld of been 1700 minus 12 month decline to 500... any takers on the maths?

Old chinese proverb" man with deep pockets, feels cocky all day."

As dave wall commented " all contingent on icewine2v flowing at commercial rates." 100 ideally, 150 would be great 200+ is amazing anymore life changing....hes covered the best options for the best outcome/s... dazzle

La bamba..

Darkelf i will email dave wall and ask him to sugar coat all rns just for you so you dont feel too negative...

PART 4: Dave Wall: The other thing that can happen as well is, say 75 barrels came. We still got 10 years on most of those leases. We'd go and look at the conventional, and potentially, there'd be a technological advancement which would mean that we'd be able to come back and say, "Well, actually, those guys were only getting 75 barrels and now they're getting 200. Maybe we can apply that technology." That's the thing at the moment, the way that technology is advancing not just in oil and gas but in every field, it's pretty phenomenal. That's something that doesn't mean the project is 100% dead. It might be dormant, so it would push out that timeframe we're talking about.

PART3:It's really about understanding why it didn't work. If we effectively fractured 100% of it and it still flowed at 75, that would probably be the end of that for the time being because you probably need much higher oil prices to justify spending more money on something that we think has questionable economic value given what we know about the above ground cost, structures, and everything else on the slope.

PART 2:We would have to drill another well to prove to the market and execute the job again effectively. We probably wouldn't have the information that we needed to drill a horizontal because 60% of the fracture didn't work with stimulation. That would push the timeframe out. We had permanent sites that we can drill additional wells from the pad, so we could fast track that. Obviously, there'd be some dilution associated with that, and possibly at lower prices depending on the market's reaction. That's one scenario.