Member Info for Ddraig

History and financial prudence indicates there's likely to be a CR before the drill.
This will probably ignite a storm but here's my view.
I am positive regarding the company and opportunities as you can see from posting history but I have a balance view and that is there is significant risk here.
DW has raised before Christmas and into a drill on previous occasions. The pre Christmas raise is being allocated on FO obligations, new opportunities, Umiat clean up costs etc so leaves little in the bank for operational expenses post drill.
If a raise does happen I'm not criticising, it's necessary. Imagine where we'd be if we hadn't have done this before Winx and Charlie-1?
It's nothing to get upset about, in the long run it's the prudent approach but let's hope that Peregrine works and looking at its this way, any dilution effect currently is about half what it was before Christmas and god knows how much better than post drill if peregrine isn't as expected.

09.42 - Cheer up...far lesser than the rise and to be expected. Not sure how realistic it is to expect day on day rises ad infinitum. The world is easy to manage once you manage your expectations.

15.26 - I think you're right Brom, whilst companies are rivals and working for their own shareholders is paramount, they also know sometimes the best way to provide greater shareholder value is to work with others.

15.17 - Thanks olddad. DW has shown time and time again he is good a closing deals and running on-point operational drills (yes of course one or more need to be proved up or then its all semantics) so in that respect we have a solid man at the helm.
I'm glad to se less commentary around remuneration at the moment, I think its fair to say DW is working his socks off at the moment to given 88E the opportunities to prove itself and I think that should be recognised as value for the remuneration package...we just need one to come in then more of his package will be crystallised....and lets remember that means it'll be positive for all us shareholders.

14.55 - of course there may be other more efficient options if they can negotiate, may be leveraging off any Willow or Harpoon development plans - but I'm not an industry expert so this may not be some thing companies entertain between themselves.

14.55 - I think the in the latest RNS (the Umiat one) it had a proposed spur pipeline proposal to cut from Umiat /Peregrine east over some non 88 land and the Charlie area to the taps.
It's a reasonable distance hence Umiat would have been unlikely to commercialise as a standalone. Even with Merlin and/or Harrier success it'll still be a chunk of change to construct, but achievable...and unfortunately necessary or their oil remain where it is.

14.44 - if oil was averaging $109 everyone would be more positive about everything! lol (except filling your car up!)
You may well have a point on both fronts...obviously half full people (of which I'm somewhat) would say that whilst they may not know the results from the labs if they are suffering latency given COVID-19, they may know the results and they haven't had the time to incorporate into comms with the
Takeover
Peregrine farm out
Drill panning
Capital raising
Lease bidding
Torok commercialisation strategy,
HRZ and Charlie FO negotiations...
we can all see that they have been exceedingly busy.
Or they don't want to detract too much from the focus of Peregrine
Or as you say, its possible it not great and they want to consider their options (as much as I hope this is a long way from the truth)

12.01 - Every other post is not appear....short form response to this is - your investment may go up as well as down lol

try again...
14.32 - Double check your Junk mail - emails systems (especially Apple in my experience) can some times start sending emails to that even if you've historically received them into your inbox
Well if you've done that and you still don't get them fire 88E admin a note as it sounds like yours is a different problem and you've done everything you can.

14.33 - ha ha, thanks Rabito - As they say, your biggest critic holds the key to your largest praise ;-) lol.
As a piece of business I think he's effectively applied his counter cyclical strategy well in this case. I think we both also agree we would still be in the 30's if we were sat on the sidelines this drill season waiting for Charlie-2 FO and drill in 2022 (which I know even in a sunny day environment you're not especially positive about).

14.32 - Doble check your Junk mail - emails systems (especially Apple in my experience can some times start sending emails to that event if you've historically received them into your inbox)
Well if you've done that and you still don't get them fire 88E admin a note as it sounds like yours is a different problem and you've done everything you can.

12.03 - Jiddy try just going to the website and re inputting your details - its only 3 inputs and can't harm...

13.34 - You mean price rise? I guess so, I think Peregrine hasn't changed and still has a high risk profile but the reward for success arguably got bigger with the Umiat numbers.

10.33 - Thanks for letting me know, appears the auto email or RNS's is working again, make things a lot easier to keep on top of, especially as they are coming thick and fast at the mo.

From = Brom...auto correct heaven!

Agreed, and the same strategy is appearing to be applied to Yukon, albeit Yukon isn't as far advanced at Umiat and track 29 doesn't have any seismic unlike Peregrine (although only 2D)

From - Just received the Umiat RNS on email alerts so guess they have fixed the issue. Everyone else receiving these again?
If not, try doing what I did last week, go back into 88e's website and refilled out the announcement request details.

Wasn't quite sure what to make of this but know I've had a chance to think. If you were Linc Energy and had these assessed reserves you be sat their looking at commercialisation options as I'm fairly certain this doesn't stand up as a discreet development plan. 88e have had a look and willing to take the risk that if Peregrine doesn't work then this won't have been a valuing adding folly and they have the clean up bill for the 2 wells.
However if Peregrine does work the incremental cost to develop the Umiat will be relatively small and therefore they get the extra 50-100 barrels efficiently and who knows, that might be the difference between Peregrine being commercial to develop or not.
Needless to say this has been received positively, as I believe it should, and sets things up nicely for the non-drill season period being filled with further developments.
As I've said before, Peregrine needs to be a success.

11.15
https://clients3.weblink.com.au/pdf/88E/02320688.pdf
Merlin analogous with Willow
Harrier analogous with Harpoon.

10.34.
Whilst positive news is always appreciated, it needs to be accurate. 88e bid and won 1 track, track 29, which comprises 23,446 acres so a very small percentage of the total lease sale area...that track clearly wouldn’t generate the numbers you’re suggesting whether that be $ or barrels (you didn’t specify).
We bid on that specifically as it helps our existing and adjacent Yukon leases.
Also it’s worth noting the politics, this was a hot potato for environmentalists particularly as this protected area was only opened up for sale to fund tax concessions. Now trump has gone I suspect there’ll be limited appetite to open up leases for sale in the ANWR again any time soon.
Notwithstanding all off that, it is positive for the Yukon leases but expectations of value are significantly more modest.