Member Info for Desmond45

It’s going to be a long old month

In a nutshell

The complex time consuming nature of dealing with a big company has got us (the joint venture - 88E and BEX) sweating a bit regarding getting everything in place to drill in time for 2020. More than likely comprising a lot of back and forth between lawyers drawing up the final contracts.

DW will know if the deal drags on and we miss the 2020 drilling boat then the market would react badly to a year long delay. Therefore initiating this EP puts the onus on the farminee to get everything ready in their side in time to remain within the logistical timescale to execute our drilling plans.

Commitment from the farminee to stump up 500k to get the ball rolling can also only be seen as positive imo, putting their money where their mouth is. However it could be considered pocket change by a tier 1, and the unusual late timing of this exclusivity period has unnerved the market slightly. Perhaps similar scenarios such as Bahamas petroleum which later fell through have acted to take the gloss off the announcement, meaning punters have less faith in the execution of the deal following the exclusivity period.

On the whole, it’s still all to play for, and I’m personally more confident regarding this deal than ever before.

Let’s have it Davey

Word from the swampies is that the road is being closed at WN! EWT Equipment on the way by the looks of it. GL

Pmsl S4K please stop digging the hole. People like you shouldn’t be allowed to invest.

S4K - the biggest clown on this bb. I’m not short, never have been short, nor intending to go short. I’ve been invested here for a long stretch, a bit disgruntled at times but as I posted this morning I thought it was a good update.

On the contrary, you just claimed that BURGENDY EXPLORATION are the new farm out partner, who we’ve been in a JV with for about 5 years

Laughing my flipping ass off you haven’t got a Scoobie doo

S4K LOL, absolutely clueless

500k to get the 2020 drilling ball rolling. E.g administrative costs, permitting, deposit on a rig(s) maybe.

Sounds good to me, next portion of jam on August 31st.

Maybe we’ll receive a lovely bit of early August jam tonight. SP is currently flat as a fart and has been for some time, so I’m sure we would all enjoy some upward momentum. GL 88’rs

Hopefully DW cuts his own salary amongst others so we stop blowing 350k a quarter on wages

I’d say Aug 16th is mid August and not early August. But hey ho with weeks not months and all that it could be any time. GL 88ers

Early August? Lol

Good luck team let’s hope we catch a break tomorrow, or at least are just informed everything is tickety boo with the FO as part of the quarterly.

Lovely bit of jam in the morning then....right?

4p will be cheap the day vast quantities of oil come to the surface.

Any elaboration on what Dave said to you about those 50 enquiries Phrontist?

How can you allegedly work in media/broadcasting for 40 years and be unaware of the whole Hillsborough x The Sun debacle??

Just stating facts, pal

RNS states a deal is as good as done.

Here we are nearly 5 weeks later none the wiser with no definitive timescale.

Based on the 88 track record of delays, something stinks here. Hope I’m wrong! Sure it’ll be revealed in the quarterly update (not)

I queried the ‘50 enquiries’ you mentioned Phrontist - to DW ages ago and his response was don’t believe everything you read on message boards. Can you clarify exactly what was said? And why are some shareholders privy to information and others aren’t?

Additional detail to be provided post signing - why is it taking over a month to sign a document that is already allegedly been agreed by both boards? When it was a case of weeks not months in March.. why are we still waiting?

A bit of Jam tomorrow?

What is incredible is the amount of ramptastic posts here and twitter etc saying the price will be 1p next week etc, luring the newbie investors in. In reality we have a 2 month wait for results, and it is common to see a moderate retrace during the news blackout as people take profits. As I posted on July 15th (and was attacked by McNimby) it was a great time to dump some shares, backed up by the evidential TR 1 RNS which followed showing big hitters selling shares from 5.6% to <3% and now the price is in decline. Its called making easy money and being savvy. Good luck with your investment strategies!