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Interesting article in Oil-Price.net re RECON a Chinese company listed on NASDAQ.as RCON. It will this month commence selling the new super computer controlled fracking system called FracBHD which means much cheaper, cleaner, and much more accurate fracking. Its well ahead of anything else so lets hope 88E embraces it.

In principle yes but not for a few days yet. The $7mln cash is to mainly pay for the block lease so 88E will need to raise more funds later presumably at a higher S/P to reduce the likely further dilution.

Wapt1 underwriters were offered shares at 1ct and that is their take up price from 88E The underwriters don't buy in the market but sell the allocated stock if they have to take it up. Otherwise they just take their underwriting fee while their allocated shares are sold to other investors in the market. I was an underwriter or rather my investment company was so I know the way it works. The only way any underwriter will buy in the market is if the underwriter wants more shares for an investment decision. There was no sign of that on the ASX today hence the 25% drop in S/P on selling. We also don't need your re-runs of old news. Please don't get out of your depth anymore as its embarrassing for you.

3.5mln shares traded today on ASX and S/P dropped from 12cts to 9cts. To be expected for a few days yet while underwriters take profits. May show up tomorrow on AIM.

Sorry if I got that commission bit wrong but its a very long time since I traded penny stocks. No I don't need to go on the petrol forecourt as my company is producing oil in the Arabian Gulf anyway and I need to for a 2016 listing London or Frankfurt. I am not a daily trader but long term investor and was extremely successful 2010/11. If you read my it actually said CAN be not IS I really don't need petty lessons from you.

Thank you. Interesting article which also shows pitfalls as well as benefits. At 24 wells per pad GB is definitely using the new octopus horizontal drilling system.

Almost certain to drop for a few days as new shares are sold off by underwriters.

GB info tells us little we didn't know already but thanks anyway.

Presumably the new shares will be issued next week as 88 Energy. What's not clear is whether they're ASX issue or quoted in London also. If they are quoted in London as the same share that could mean an AIM price of 0.20p compared to last week. Also existing shareholders may need to change their present holdings for the new shares next week or they may just accept them in trades rather like used bank notes. No doubt it will all become clear over the next few days but for now it isn't.

Stew200 its on here in front of your nose. 452mln

Waiting for March 03 or whatever re 88energy. Then may buy couple of mln to start with.

Forgot to add no its not a suction pump but merely much more accurate drilling. You still need to inject down hole a mixture of water and chemicals about one third of which stays in the well with the rest coming back up hopefully with oil for separation. You're left later on with a pond which will need cleaning although these days oil cos have to clean as they go on under environmental practice. Hope this helps.

GB will almost certainly be using the new octopus horizontal drilling system which is a fibre optic computer controlled one and takes 4 wells on one base of about one acre. But recently in the Bakken Marathon and I think others now have increased it to 6 wells on the platform base so that is more efficient. Added to that in the last few weeks there have been other improvements to recovering more shale oil from a well. As to the actual drilling I assume that GB will have been smart enough to use outside help re the sweet spots. All the other oil cos do that and one small US company is a mine of drilling information when approached. Alaska should be no different.

Honestly don't know what Great Bear is using but its probably the latest in use for Texas as that's where they're based. Of that I'm fairly confident.

For those of you interested look up The Bakken Magazine. Marathon has significantly improved production using a six well platform and other drillers are storing oil in the wells pending an oil price rise. There is also a new system for rejuvenating oil shut in wells.

Very amusing spat with HUFC and Graftman. May I point out that with penny stock (less than 10p) the dealing costs are frankly extortionate so the % profit is lower and the losses larger. Just a thought. !! Have a good day.

Gas yes go to www.synfuels.com as they have a pilot plant of 25kbpd running in the Arabian Gulf converting natural gas to liquids (GTL) as petroleum. Cost is only 15% of the cost crude oil to petroleum at $5 only, compared to $43-45 for crude oil per bbl. Its been tried for two years on USAF B52s very successfully and goes to commercial airlines later this year. There are two large plants being built now in SE USA & Canada so that by 2019 85% of US cars will run on it and the nice thing is you don't even need to modify the engines. Imagine petrol at 20p a litre !! The Govt of the day will tax the hell out of it. But its cheaper, cleaner, and far more readily available than oil. I think you. saw my remarks re this on FOGL. Hope that answers you. If you're looking for the next very interesting one have a look at TPET soon to be called 88 Energy Ltd. Could be bigger than anything in FI and has BP, plus Shell, Chevron etc as its neighbours. It has a capital of just £5mln or so for now.

Hufc. I wonder why. !!

Borisrus my own oilco geology & geophyics people plus operations director looked at it all, and despite the possible 3bln bbls being touted they came to the same conclusion as Shell but who knows, we could all be wrong.

HUFC1908 Did you day 'data room' ?? The way these guys have performed so far in that area has been pathetic and I've been there and seen it not the data but the sales non-performance. They're still sitting there waiting for people to turn up and its a hell of a long way to the P Stanley office. But maybe with the drilling about to start maybe the BoD will get lucky.