Member Info for E_AL

Very true Digby04.

Nice buys from the CEO & COO yesterday which obviously shows confidence in the future of the company. last director buy was back in January @ 25.63

Today's RNS:

https://ir.q4europe.com/Solutions/Hurricane2018tf/3942/newsArticle.aspx?storyid=14679072

Seems to be a very interesting person with a vast experience in Alaska's Oil industry:

"The onshore oil explorer today announced the appointment of Erik Opstad, an Anchorage-based oil and gas executive with over 40 years of experience in the industry including more than 25 years operating in Alaska.

According to the company, Mr Opstad’s experience in managing exploration activities including drilling and seismic operations for domestic and international companies will provide XCD with the “on-ground local expertise it requires to progress its Project Peregrine exploration program”.

Speaking with Small Caps, XCD managing director Dougal Ferguson described Mr Opstad as an “entrepreneurial leader in Alaska”.

“He is the key to allow the company to progress its low-cost drilling initiative,” he said.

“I have met Erik several times now and having someone on the ground in Alaska who has extensive operational expertise and excellent local contacts as well as an understanding of how international companies operate, is a unique combination of skills,” Mr Ferguson added.

Oil industry veteran

Mr Opstad’s energy project management and technical experience includes working on BP’s onshore and offshore operations in Alaska.

In 2000, he founded oilfield services company ELKO International, which is focused on well planning, design and permitting, drilling management, well completions and restorative activities. ELKO has also served as an expert witness for various arbitration panels and state commissions.

In 2008, ELKO and partners acquired the Badami field and pipeline from BP and Mr Opstad acted as drilling, wells and general manager before the oilfield was sold onto Miller Energy in 2014.

Since then, Mr Opstad has assisted 88 Energy (ASX: 88E) with its North Slope exploration projects.

He also recently formed Jade Energy to develop oil resources within the Point Thomson field in Alaska."

Brombarb, I was looking at the share price trend for XCD in 2020 and I've noticed that the share price has almost been at 0.01 AUD since November 2018 so technically we paid 100% premium for last week's share price.

However "technically" we didnt pay cash, we offered them shares in 88E in return of a debit free company with $1.2 million in its bank account and adding 40% more acres in the North Slope which has prospective resource of -1.6 Billion barrels of net oil entitlement (after royalties) independently assessed by ERC Equipoise (ERCE) for Project Peregrine.

Also, four additional leases issued during the March 2020 Quarter (confirming 100% owned lease position of 195,373 contiguous acres).

- All lease fees paid through to March 2021 with no further committed expenditure in Alaska for the remainder of the year

A bargain in my opinion!

It looks like the market like the news, BID/ASK 3:1 at the moment

Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is putting aside the Bloomberg terminal and picking up the microphone for another instalment of The Wildcatter Podcast.

In this latest episode, Peter checks in with XCD Energy (ASX: XCD) managing director Dougal Ferguson.

XCD holds a 100 per cent working interest in 149,590 acres of the highly prospective Alaskan North Slope, nearby to existing exploration and appraisal activities.

The company is pursuing the Nanushuk and Torok oil plays in what is one of the world’s most exciting oil exploration hot spots.

Link to Podcast: https://stockhead.com.au/energy/wildcatter-podcast-understanding-rising-alaskan-oil-interest-piggybacking-off-oil-searchs-success-and-xcds-year-ahead/

From the RNS:

-XCD securityholders will hold up to 15% of the combined group .

88 Energy is an Australian-based oil and gas exploration/appraisal company targeting oil on the North Slope of
Alaska. 88 Energy’s main project is Project Icewine, which comprises approximately 480,000 contiguous acres
onshore Alaska in prolific oil-rich provinces.

XCD Energy is an ASX-listed public company, with a focus on exploration in the USA with a 100% working interest in
195,373 acres on the highly prospective North Slope of Alaska

So 15% dilution in return of $1.2 million in XCD bank account and 40% additional acres in the North Slope and:

-Prospective resource of -1.6 Billion barrels of net oil entitlement (after royalties) independently assessed by ERC Equipoise (ERCE) for Project Peregrine

-Four additional leases issued during the March 2020 Quarter confirming 100% owned lease position of 195,373 contiguous acres

- All lease fees paid through to March 2021 with no further committed expenditure in Alaska for the remainder of the year

-Two further discoveries and flow tests in the same Nanushuk play as XCD's prospects were announced by Oil Search Limited during the March 2020 Quarter

- No debt (and cash at bank at 31 March 2020 of $1.2 million).

-Cost reduction strategies being implemented across the business .

He doesn't hold " a considerable holding in XCD" in fact he holds more shares in 88 Energy than in XCD

From today's RNS

*Independent Board Committee

The Independent Board Committee has independently assessed Mr Wall’s personal interest in XCD Energy and has determined that Listing Rule 10.1 does not apply to the transaction because Mr Wall’s XCD Energy shares and listed
options do not have sufficient value for them to be classified as a “substantial asset” for the purposes of Listing Rule
10.1.

Additionally, the Independent Board Committee has also determined that Chapter 2E of the Corporations Act does not apply because Mr Wall will receive the same consideration as all other XCD Energy shareholders and listed option holders.

The Independent Board Committee approved the bid consideration payable under the Proposed Offers based on its own determination on the relative values of 88 Energy shares, and XCD Energy shares and listed options, having taken advice from 88 Energy’s corporate adviser.

Owing to Mr Wall’s interest in XCD Energy shares and XCD listed options, as detailed above, the Proposed Offers represent a related party transaction pursuant to the AIM Rules. Accordingly, the Independent Board Committee, having consulted with the Company’s nominated adviser, Cenkos Securities plc, consider that the terms of the Proposed Offers are fair and reasonable insofar as the Company’s shareholders are concerned.

You comment just shows your immaturity and ignorance.....

First of all and as I just mentioned before, my posts were about the potential of natural gas in Alaska and the current scenarios to benefit from the north slope NG significant reservoirs there.

Secondly, regulatory approvals is much more important that funding or commerciality of any O&G project. If you don’t have the relevant government approvals in place then you can’t offer any investment/partnership opportunities to potential investors.

For example, fracking is not allowed in England anymore even if you have the best technology & equipment, a lease in place or all the money in the world to carry on the job.

Not at all Spinefx, but if you understood how the Federal Energy Regulatory Commission (FERC) works then you should know that their very recent environmental impact study (EIS) won’t discuss funding the LNG pipeline project so your comment was irrelevant to my reply to you.

“The final EIS assesses the potential environmental effects of construction and operation of the Project in accordance with the requirements of the National Environmental Policy Act (NEPA). The FERC staff concludes that approval of the proposed Project, with the mitigation measures recommended in the EIS, would have some adverse environmental impacts; however, these impacts would be avoided or reduced to less-than-significant levels.”

Archie, let’s wait for the lab results which should be out very soon. PMO Oil CEO commented on the output of Charlie 1 drilling yesterday by saying they found a significant Gas discovery there so if the lab results are as good as he said & matches the third party Petrophysical Interpretation then I think 88E should try to invest more time and effort in finding a regional partner who would be interested in providing a small size LNG facility to turn the natural gas to LNG.

For example: Not far away from the north slope a Canadian company based in British Colombia has began the construction of an LNG production facility:

“ April 2020, Cryopeak LNG Solutions Corporation, based in Richmond BC, has begun construction of a new LNG production facility located in Fort Nelson, BC, capable of producing up to 90,000 gallons of LNG per day. Cryopeak's new LNG facility is the first fully funded and permitted LNG production facility in the Fort Nelson area.

The production facility will be the closest LNG production point to northern Canada and portions of Alaska. A key feature of the plant design incorporates a new truck loading system that optimizes loading of Cryopeak's fleet of LNG Super-B tankers. The plant will be modular in its design with minimal installation requirements at site.”

https://www.worldoil.com/news/2020/4/3/cryopeak-lng-solutions-breaks-ground-on-new-lng-production-facility

Spinefx

Such a childish way in communicating with others ...

I was sharing with Archie’s my findings regarding the potential of LNG in Alaska and the current scenarios to benefit from the natural gas in that region. We were having a mature informative discussion and when you asked for an up to date news about the progress of the LNG pipeline I provided you with one so try to appreciate others contribution to this board & learn how to be part of a mature conversation.

Sorry, I couldn't add this to my last post:

Source : https://www.ktuu.com/content/news/Final-EIS-in-Alaska-LNG-project-published-final-order-expected-in-June-2020-568570201.html

This is a link to the statement made by the LNG project regarding FERC final environmental impact study (EIS):

http://agdc.us/wp-content/uploads/2020/03/Mar-6-EIS-Press-Release.pdf

Hi Spinefx,

Just before answering your question, from my understanding the LNG pipeline is not the only card to commercialise the tremendous natural gas reserves in Alaska, the former Alaska Lt. Governor Mead Treadwell is pushing for a substantially less expensive route which achieve the ultimate goal much quicker.

"Clarke, a former longtime BP project manager, says the Russian Yamal LNG project has had success since beginning their gas exports two years ago. Since then, they’ve sold gas to markets in both Europe and Asia & that gives Qilak confidence that the Alaska project would be financially feasible. Clarke also says Qilak’s project would be much cheaper than the proposed Alaska LNG pipeline project. By eliminating the 800-mile pipeline, we can reduce the cost to about two-thirds”

Clarke says that the major costs of the project will be construction of a liquefaction plant and the offshore structure. They plan on leasing the icebreaker tankers, a plan Clarke says was similar to what the state planned on doing with its project."

***Now back to the LNG pipeline,

Again from my understanding, politics and bureaucracy is the reason behind the slow progress of giving the project the final approval. The proposed state Alaska LNG pipeline was a major construction goal of former Gov. Bill Walker (Independent Party, his successor Gov. Mike Dunleavy is republican.

The latest update was last month:

"March 2020 - Alaska LNG Project moves forward with final environmental impact study from FERC

The Federal Energy Regulatory Commission (FERC) published its final environmental impact study (EIS) for the 800 mile Alaska LNG Project this week, earning cheers from proponents at the opportunity to move forward.

“This is a key step forward for Alaska LNG and a significant milestone for the project,” U.S. Sen. Lisa Murkowski (R-AK) said. “This final EIS is the culmination of years of research, analysis, and public process. I thank all of the staff at FERC who worked diligently to complete this extensive review on schedule. It is one of the most comprehensive federal environmental reviews ever completed.”

https://dailyenergyinsider.com/news/24572-alaska-lng-project-moves-forward-with-final-environmental-impact-study-from-ferc/

March 2020 - Final EIS in Alaska LNG project published, final order expected in June 2020

"The Alaska Senate Majority released a statement on the news about the FEIS.

“This significant milestone is the product of hard-working Alaskans, with strong input from Alaskans statewide,” said Senate President Cathy Giessel, R-Anchorage. “The LNG project has tremendous potential to generate new revenue and jobs for our state, and we’re encouraged by this progress. The FEIS is not a final green light for this project, but paves the way for the actual authorization expected in June. I appreciate the hard work that AGDC and our industry partners, BP and ExxonMobil, have done to reduce the cost of the project.”

h

@Archie_Chow,

I have been reading about natural gas in the U.S and I can across some interesting articles:

*The U.S. Energy Information Administration forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 Bcfd in 2020. Net natural gas exports more than doubled in 2019, compared with 2018, and EIA expects that they will almost double again by 2021 from 2019 level.

https://www.worldoil.com/news/2020/1/23/eia-expects-us-net-natural-gas-exports-to-almost-double-by-2021

*In regards to Alaska, it has substantial natural gas resources. The U.S. Geological Survey (USGS) has estimated that conventional natural gas reserves on Alaska’s North Slope potentially exceed 100 trillion cubic feet (Tcf), over four times the total annual gas consumption of the United States. he U.S. Geological Survey (USGS)’s assessment of undiscovered conventional gas resources across the entire Arctic region concluded that over 1,600 Tcf of additional natural gas reserves remains to be found.

Several businesses are interested in turning Alaskan Natural Gas to LNG (Liquid natural Gas) & export it world wide:

1-Dubai-Based Firm Proposes LNG Plant Off Alaska's North Slope: Dubai-based floating LNG company Lloyds Energy has announced plans to export liquefied natural gas from Alaska's North Slope using an offshore liquefaction terminal and icebreaking LNG carriers. The proposal would eliminate the need for a $40 billion pipeline to carry gas 800 miles overland to a liquefaction plant at Cook Inlet - a persistent cost and permitting obstacle for North Slope gas development.

Details of the project: https://www.maritime-executive.com/article/lloyds-energy-proposes-lng-plant-off-alaska-s-north-slope

2- By eliminating the 800-mile pipeline, we can reduce the cost to about two-thirds, Qilak has already completed an initial feasibility study for the project, with a more detailed one to start next year. He says, ideally, the project would begin exporting LNG in the mid 2020s. Source : https://bit.ly/3aDXuaS

3- The main long term project: Alaska LNG pipeline.

The Alaska LNG project is designed to liquefy 3.5 billion cubic feet per day of gas for sale to customers in the Asia-Pacific region from a facility to be built in Nikiski on the Kenai Peninsula south of Anchorage. It includes an 807-mile (1,300-km) pipeline from the North Slope.

https://www.reuters.com/article/us-usa-alaska-lng/bp-exxon-to-help-advance-alaska-lng-export-project-alaska-gasline-idUSKBN1QR0WQ

This integrated natural gas project is one of the most important projects being built in the United States. It is Alaska’s priority project and has been widely studied by stakeholders, federal agencies, and state regulators.

https://alaska-lng.com/project-overview/benefits/

I really hope this is the turning point :)

https://www.tradingview.com/x/ImaL4KZV/

ha well it looks like 0.23 was the bottom and the share price is showing some strength atm:

https://www.tradingview.com/x/39wCZICV/

Now I have to pay 5.5% more for the same topup I bought at lunch time.

"@Shaa: Not sold any, if anything have added."

Same here mate, ridiculously cheap at the moment. I know DW will soon do what he is good at in ramping the company before his next crusade to kick the sp back up so happy to ride the sp recovery from its current level . Many day traders who bought last Monday hoping to ride that RNS and make easy money have been selling since the drop and offering others a great opportunity to average down.

Nice support around this level so I couldn't resist snapping another topup:

12:11:13
0.2352
1,061,660
£2,497

Steve Sutherlin- Petroleum News

"During the first quarter of 2020, the handful of small publicly traded companies operating in Alaska have made preparations to weather the low price environment and uncertainties thrust upon oil and gas markets by falling demand due to the COVID-19 pandemic, coupled with breakdowns of supply restraints by OPEC and related parties.

88 Energy - which is publicly traded on the Australian Securities Exchange, ASX - said in an April 20 announcement that its recent “prudent cost cutting measures” including cuts to board and management salaries have resulted in greater than A$750,000 in annual cost reductions across the company.

The company is the operator of Project Icewine on the North Slope, location of the recently completed Charlie 1 appraisal well.

Early in 2020, 88 Energy made a well-timed cash raise.

On Jan. 24, it announced that it had successfully completed a capital raise of A$5 million (before costs), with the placement made to domestic and international institutional and sophisticated investors through the issue of 238 million ordinary shares at A$0.021 per new ordinary share.

At the end of Q1 2020, 88 Energy said it had cash reserves of A$28.1 million, including cash balances held in joint venture bank accounts relating to joint venture partner contributions totaling A$19.4 million.

Premier Oil farmed in to Area A of Project Icewine in September 2019 in a full carry for 88 Energy up to US$23 million, in exchange for 60% of conventional potential in Area A, 88 Energy said, adding that it retains a 30% interest in the area.

Source: https://www.petroleumnews.com/pnads/507741681.shtml "

The part about 88 energy in Premier Oil's podcast: https://streamable.com/jztlxr

Then obviously you didnt understand my post. In simple words, if you are a long term share holder and you think the company is a dead horse then its a no brainer to salvage whatever left of your money before you lose ALL of your investment (Saving lets say 20% of your money is far much better than losing 100% of it, right?) but if you think there are "some positives" here and you would like to hold your shares until the lab results or if you are interested in the potential of 88e's other assets then s-l-a-gging off the company in every other post on this board wont benefit your investment in any possible way..........

If you are not a share holder/not holding a short position/not interested in investing here for whatever reason then obviously you have plenty of free time on your hands so why not to make some money out of it & use that time in researching companies with possibly better potential than 88e?