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I think when DW said this it would work out around 30-50p per share from my memory, not shabby at all, although the company acreage and asset basis had changed along with this new drilling in 2019, so who knows what he thinks now. I think DW has opened his mind to his sell price of the whole company for a bigger company, they would take it and move it to the next stage. With growing companies they often sell for the bigger guys leaving them with the cake which we have taken a slice out of which is small but still tasty.
I think a lot of the traders forget 88e in its essence is a oil exploration company - mostly traders not longer term investors, IW1 showed what we very much have IW2 too although we never got to the desired 30% but we know that if we drilled this vertically it would flow but funds aren't there and the important stage for 88E was to understand the makeup of what we have which from the RNS they have achieved enough knowledge from IW2 & IW1 to now back farm out, and you can bet that DW is working on this which take time and effort for such a complex package.
We have been adding acreage since I've held this share and too right we drill to hit that sweet spot and with what we know we want every dam square inch of land that sits above and around the drill sites as the big boys will be looking, poo is on the move.
Don't be fooled by price of oil its only heading up longer term, the idea of electric vehicles is years off if at all, and that's just average cars add in the idea of electrical hgv's or machinery the infrastructure is so far away.
In the UK we dont really have the infrustructure yet for this electrical car idea, we are what 10 years off at best for the average joe car pricing ? and we are a poulation residental dense place, throw the idea in another less residential less dense country it doesnt work.
So this share is still in its infantsy and there is a strong chance we could see farmout really soon and with the partners drilling for income early Jan 19 (400mmbb) there is a lot to like!!, the board wont be wanting farmout to buy shares for cheap pence DW will be looking for the long game to solidify his legacy in the oil game and maximize his investment in time and money.
Still believe the drop was well overdone , the good in the RNS was well overlooked here is some info of why we should be 2p and it’s nit changed ! Game on - With the oil price on the up, 88E will most likely look to farmout to a partner – one that sees the upside in developing and commercialising Project Icewine into the next multi-billion barrel onshore oil discovery. With a prospective resource of 1.4 to 3.6 billion barrels of oil equivalent, over only 270,000 of the now 475,000 contiguous acres, with TAPS running down the middle, Project Icewine must be on the radar of oil majors looking to bolster their portfolios
Its nice but it will turn when we get into the 2p's as people will want to get onboard like always.
When sentiment gathers here as I feel it will and mix that with high volume this will fly ive seen it too many times the charts show this too.
its ramp but its factual and you are 100% right we should be into the 2p's alone, some reason the RNS when this was released was damped down by the flow of IW2 but the fact is its amazing unexpected news.
We need to ramp home these points as new investors need to know what's here and why we are thinking its a strong strong buy at this SP. When I joined this share 2-3 years ago, I did read all the posts to gather information and RNS past to gain that I thought this was a investment rather than a quick punt like I initially thought. DYOR its worthwhile and will highlight we have lots of good points to come here.
Some yes, SP is up to yesterdays highs so day traders maybe exiting but its looking to hold so might see a new wave up. We just need buy volume really its still so low! I think everyone is on holiday mode. I still think volume will land here soon.
Nice uptick again, I said last night interest would return today and it will by the volume I believe as its too cheap given our Jan drilling deal and that not far away.
We are waiting on 3D news which is big but I feel that's wrapped into this farm out as it was due in June! Reading between the lines I'm confident for a nice rally here now we have priced in the IW2 data being finalised.
Why Monday? 1-2p is a decent buy have a look at the charts and price history goes through 1-2ps and then once it blasts a hole in 2.8p it goes through the 3p’s like a dog on hot chips. All my opinion but charts should show this trend
This is why I've never really done it although I have thought about it but id get it backwards and wont hit the timing, when I buy shares I like to by low down the range if they have been higher. So this share between 1-2p is a strong buy as we have hit 4p fairly quickly 2-3 times from memory.
It wouldn't take a lot to push it back there, it sounds crazy but we see a 22% rise today off not much other than tiny volume sentiment so with decent farmout details rumours etc we could see some crazy sentiment drive this back up and to more realistically where it should be.
It was obvious what share they jumped from too, although I remember ramping being much heavier here years ago and was part of the reason I invested although I stuck with it, funny to see the patterns and they ramping on other shares echo's from back then. I do ramp obviously too but try with facts and helping new bods understand why we are holding.
It will always be there and can help sentiment and attract genuine interest, I'm happy we stuck at the 8%+ today hopefully ASX will carry on the trend.