Member Info for Desmond45

Down 25% on ASX.

Sensational news, well done to the board who continue to impress. Azule deal approved by the government and also Punja economics have improved enormously following declaration as a marginal discovery - this previously produced tens of thousands of bopd. Hugely derisked investment and congratulations to all holders!

The significant ramp up in production is highly encouraging here. Even if the dodgy court claims go against FXPO they will have enough cash to cover it. Debt free and printing money essentially. Still highly risky given government risk of seizing assets, or being nicked by Russia. However, the gains here could be astronomical if they ride out the storm. I called the bottom (see posting history) and it appears a technical breakout is now underway.

Made me chuckle that one Uscita! The brass neck of some posters is simply incredulous isn’t it.

As I mentioned yesterday, companies like AET have accumulated over £250m NPV10 assets without the need for ANY shareholder dilution, with the board putting their own hands in their pocket to buy shares! What a contrast!

Rampers quiet today.

Coincidence?

A certain poster on X stating yesterday the company were apparently trying to raise A$20m according to city sources which is hugely concerning given the actual amount raised. Does NOT bode well for the commerciality of the recent Hickory well imo, and any farm out negotiation for further drilling will likely be from a position of massive weakness and terms are likely to be extremely poor. Seen it before here too when premier oil farmed in….

With the staggering G&A costs this sum of money raised at 0.16p will not last long at all.

As expected, a huge placing incoming as announced on ASX at what will effectively be all time lows. What a disaster.

Myself, Scot and Olderwiser to name but a few have been taking pelters on this forum for stating the obvious. Once again proven right despite all the happy clappers on here.

Lots of egg on certain posters chins this morning. Sharebel, Brombard.

Im certainly not bitter and twisted. 88E was one of my earlier forays into the world of AIM oil and gas companies as opposed to proven oilers with solid track records. Lost a heap, made a heap, and learnt many valuable lessons about how these companies operate. The latest cycle has been absolutely text book, check my posting history for many correct predictions along the way.

30+ thousand posts from Brombard only for the share price to be at all time lows. Dear oh dear what a waste of time.

I’d rather listen to the likes of Scot126 than a random Reddit poster called geodesrock.

Why is the stock down

~94% from April 2021 highs?

~43% from earlier in the hickory flow test?

The market knows this result sucks and the share price reflects it, irrespective of how many faux-scientific articles get banded around on here.

Random articles about 88E popping up online and recent investor presentation points to one thing only imo.. good luck

RNS which really hammers home how poor the flow rates are. Pumpers out in force today!

26 Mar 2024 18:32

“I anticipate Mystic Mac will have disappeared in a week after his rampathon and a lot of confused naive punters will be left holding a rather expensive baby.

Bookmark this post”

Where you gone Mr Mystic?????

Sharebel give it a rest. Absolutely pathetic ramping.

Wow, that presentation is a shocker.

No clarification on the flow rates which the market appears to crave - the figure quoted is caveated saying refer to original announcement.. and which we all know from that announcement and recent discussions on this board outlined they only recovered 4 stk barrels of oil over 16 hours.

Cash position is expectedly dire, i imagine once this seasons drilling campaign is paid off there will be nowhere near enough funds to progress any of the projects further unless a miraculous farm out pays for everything which would likely leave 88E with minimal working interest. Horizontal well not expected until 2026 in a best case scenario on the timeline provided!

Alternatively, it’s probably much more likely given the regularity of previous raises that further dilution is coming to keep things ticking over in the meantime. The huge UT sells printed today might be indicative of what’s to come. Not great reading in any case.

A few hundred barrels per day at longhorn might pay for the Christmas party and beers at the AGM at least.

As always, opinion only and DYOR

Any further deal announcement will be reliant on Azule closure first. They’ll need to know what finance is available from their existing facilities and obviously future cash flows from Angola operations. However, I wouldn’t be surprised to see a backdated additional deal announced upon completion of Azule given the boards stellar track record. At $89 oil especially this company remains grossly undervalued provided Azule completes as expected.

Agreed Olderwiser, the spin cycle is likely finished now. There could be a trade opportunity but there’s also a high risk of getting caught by a monstrosity of a discounted placing. Not for me, I’ll stick to proper companies like AET.

A post from Stas on April 5th - “I think most people could consider that in terms of Market Cap we could at the very least MATCH the past, but we are in a better stage now than we were then. However, I expect many think we should be looking at having an improvement on the past, not just matching it.

If the 2.4p claim were to be achieved that would give a market cap of £600m, not a huge push from what we achieved in 2022, but heh these are just the facts, the math don't lie.

The math says its possible and in any case even just matching the past would mean a multiple of over 5 times todays SP, isn't that exciting enough”

Talk of £600m market cap… was this to ramp in naive punters????

Stas “ In fact, these are not posts to inform, they are an attack akin to ramming an opinion down your throat whether you want it or not, calls here have told him they are not wanted. ”

i could be wrong, and of course no financial advice has provided at any point (only opinions on the drilling operations) but it appears anyone who may have listened to their opinions would not be 50% down right now nursing HUGE losses. Perhaps is the likes of YOU who should be banished from the board???

Naive punters listening to the likes of mystic Meg would be circa 50% down from the .44p high during testing of the first target.

Why do people abuse the likes of Scot and older wiser for stating solid contrarian opinions?

Lowest ever share price despite the ‘amazing’ news.

MM conspiracy or market seeing through the lipstick?

You were warned by many…

Redirons “Two weeks on and we have RNS’s stating we are flowing commercially”

That is incorrect, nowhere in the RNS does it state that! Huge dollop of egg on your chin