Member Info for Desmond45

Might have to dip a little toe in here

So oil has spiked upwards around ~10%, but we have fallen around ~4%, ergo POO has no bearing on 88E because we haven’t got any oil.

More exposure to a quality asset. Nice work S&S

Well Brom unfortunately you are not the internet police, nor the billboard administrator. So let’s keep discussion relating only to 88E. Also, for the record I was only trying to share the wealth by offering alternative shares which other posters may be interested in (think it was my post regarding RBD you are referring to?)- maybe helping others recover losses here. For example somebody tipped VRS on the IGAS bb many moons ago, back when they were - lowly 15p. Thankful to the PI who shared it, we are all here to make money! Just because you only hold one AIM share doesn’t mean you should shout down others.
Anyway back on topic, I spoke with DW on Friday and queried him regarding the proposed ‘testing’ of the HRZ, whether there could be a flow test or purely scientific analysis of core depending on what we find - he stated that there is no point flow testing it, as we do not yet understand the parameters of the formation. He mentioned that it’s effectively a free data point and akin to farming the HRZ out but retaining all the WI - and referred to it as a ‘massive coup’. Perhaps we will see some SP recovery now we have a few quid in the bank, well depending on when the sophs see fit to dump their new shares.

Going to call you Fartman from now on due to the amount of **** you talk.

The primary reservoir is the Permian-aged Zechstein carbonate sequence and, more specifically, the Z2, Kirkham Abbey Formation (KAF), which is a tight carbonate reservoir overprinted by a high permeability fracture system. Despite considerable investment and effort over the years, the historical development story of these fields has been very much one of repeated technical and investment failure, with approximately 39 Bcf (billion cubic feet) of the mapped gas initial in-place (GIIP) of c. 326 Bcf produced to date, an estimated recovery factor of 12%.

Historical production data show that all the Zechstein reservoirs have experienced early water breakthrough, leading to impaired gas rates and low recoveries. The water influx is due to a highly mobile, but finite aquifer, which under field production conditions preferentially flows through the high permeability fracture system, bypassing the gas stored in the tighter matrix.

Worrying reading, especially considering we’ve had 3 nitrogen tankers on site already. Let’s hope Rathlin have a good plan to get the oil out.

https://sp.lyellcollection.org/content/early/2018/05/04/SP465.12

Keep your crap jokes to yourself Chartman, this bb is for 88E discussion.

Unfortunately guzzler this bb is full of clowns. Chartman and the geriatrics. Good name for a band. Have a good weekend 88ers see you on Monday for more excitement :-]

Q4 2016 A$11m @ 2.5p
Q3 2017 A$17m @ 2.3p
Q2 2018 A$17m @ 2.0p
Q4 2018 A$18m @ 1.0p
Q3 2019 A$10m @ 0.7p

Looks like a downward spiral to me

Total loss for the period - 29m. Wow that is impressive, it’s actually difficult to waste that amount of money in such a short space of time.

Exploration credits court case kicks off in ten minutes. Let’s hope our misery isn’t compounded even further following the dismal placing. Good luck, we ******* need some..

https://public.courts.alaska.gov/web/scheduled/docs/oac-sc.pdf

Dave cracks me up. They are pleased to advise this RNS, but weren’t pleased for farm out announcement.

· “fund potential costs of the Charlie-1 above the Premier Oil carry”

Very similar Today is the Day, except to date we are doing the absolute inverse of what Cove energy did. How many dusters did Cove drill and how many times did the raise at a lower price than the previous one? They got bought out while we merely farmed out 60% of the conventional asset and received no cash, leading to an extra 800m share dilution. I think both companies being listed on AIM is about the extent of the similarity.

Yes indeed Guzz. Illustrates just how much of a ride PIs have been taken on.

The writing is on the (Dave) wall

Q4 2016 A$11m @ 2.5p
Q3 2017 A$17m @ 2.3p
Q2 2018 A$17m @ 2.0p
Q4 2018 A$18m @ 1.0p
Q3 2019 A$10m @ 0.7p

Oh boy that well better flow or daves gravy train is grinding to an abrupt halt

S4K is the gift that keeps on giving

They’re given to sophisticated investors who will dump them immediately putting the shackles on for months and dragging the sp down further and also resulting in over 7billion shares in issue total afterwards. All just to keep the lights on. Brilliant. Charlie-1 has to flow or its game over.

Time to go Dave. The golden goose has been well and truly strangled.

I would like to hear something. It’s been 1-2 month since the last update, would have thought a stabilised production rate has been achieved by now. Even if it hasn’t stabilised fully, just an update on the amount produced since last update...