Member Info for Ddraig

11.19 - yeah, thats why I was thinking about, latest being end of June for the 5-8 week test results...
"Routine core analysis including saturations from Dean Stark 4-8 weeks"
Would appear that results are seemingly toward / at the end of the period range (which is fine) so hopefully by mid July we'll have the necessary information and plan for future progress.

....or no one has anything to say ;-)
hopefully dean stark by the end of the month and petro some time in july

********* = **********

https://www.**********.co.uk/articles/88-energy-acquires-100-of-project-peregrine-in-alaska-d4b57ff/

07.36 - While some may focus on the price upside that OTC has provided given recent performance I think its worth noting that they have also, and possibly more importantly, provided a much more solid support when things haven't reached a definitive conclusion. I think we would have been far lower had they not been participants through Merlin 1.
Heaven forbid maybe Jiddy would have got his re-entry level, and no on wants that.

07.36 - If I was a betting man I'd say US OTC will cover greater than the combined volume of AUX, CHI and AIM in aggregate

00.29 - Its the way is see it at the moment - the fact 3 (not 1 or 2) industry and crucially drill insiders have had and probably still have equity exposure shouldn't' be overlooked.
naturally I hope the analysis provides more solid grounds that the next drill will be definitive but the APDC performance indicators does put an expectation time line on this, 24-36 months depending on metric.
If the it does work I'll give hats off to AG - the performance metrics to APDC will be far outweighed by our WI (depending on whether a new FO partner is found and what their WI looks like - hopefully far less than 50%)

23.15 - Having said that, COP defo can't be ruled out if the think it connected to Willow and Harpoon....you have to presume they would prefer to own and control the development of all of it, not just a part of it.

23.15 - Never say never but those guys have a lot of clout and I'm guessing it would cost us in WI terms. but I also guess you could argue that those guys aren't constrained to get on with it...tier 1 or 2 both have their advantages and disadvantages.

15.17 - Needs to be a solid industry partner I think. PMO had their own balance sheet issues and were gambling on an easy win...APDC were an SPV (not a functioning oil company), also looking for an uncomplicated win. Next time we need someone who can help with the analysis and support next steps. We don't need another walk away partner.

On thing to bear in mind as has been mentioned before. London (AIM) isn't really the driver here.
ASX did c.40m (which equates to 80m in OTC and AIM terms), Chi-X c.12.5m (so 25m). OTC c.120m last night....AND
AIM today 3.5m currently...AIM is the flea on the hair on the tail on the dog...

08.57 - Na, don't agree. They funded this to make money. First time has been inconclusive. They don't want to fund more in the time frames required but they do still see value.
With the royalties, P2 reserve and buy out performance indicators they are looking to keep exposure without further funding.
I don't believe they will materially sell down, certainly not before a FO and next drill. They probably could have requested cash as opposed to shares even if that cost 88E a little more if they didn't see value in the squirt upside.
So Elko, other service providers and APDC have all taken equity positions...they are all insiders to the drill/prospect and they are all industrial partners (not just some blokes on the street)...what does that tell you?
They also all know that holding and not selling their shares obviously provides upside value but also doesn't change the shares available to buy on the open market. So the real supply doesn't change and the sentiment that these people have taken shares versus the dilution effect would appear to offset currently...

I don't know...what no one knows is who asked for the deal APDC or 88E...that actually makes a big difference in to how you interpret this. Of course it could have been mutual...
Whilst the royalties and potential non-FO sale recourse should be offset massively but any such performance of reserves achieved or sale of the asset, the fact this has been granted probably indicates (IMHO) that 88E wanted it back to push ahead and possibly more confident in the interpretation right now. If APDC wanted out I don't think they would have achieved agreement on the performance recourse covenants.

14.00 I guess Helium One is taking top most of your time.

14.00 - Could have sworn blind you said you sold the lot
25 May 10.59 "...so I have sold out my last tranche this morning...."
I thought the Operation updates made very good job of explaining where things weren't going to plan and most people would see that as indicative of a price to pay...seems you didn't read them that way.

08.58 - Guzzler1962 Not sure if I've understood you correctly but the Elko share were issued at AUD 0.018 and the 982m share issued to the operational contractors was at AUD 0.022 and the capital raise today was also at AUD 0.022.
So I agree they have issued a greater number of shares than to the operational contractors for Merlin but I don't agree that the issuance today was at a lower price. In fact is appear too be an exactly the same price. Happy to see your calculations to the contrary...

Arbitrage is like lightening ...doesn't last long...

09.56 - Indeed it was HL an d that is what we call arbitrage in the industry...

Interesting...my broker is quoting to sell (to me) at 1.17p and buy (from me) at 1.1722p

I can see the positives of this outcome but any change (even if it is positive) is viewed negatively by the market...the market isn’t actually a very good judge of news at the moment. However I think once it’s digested it might prove to be a smart move