Member Info for G_G_G

Agreed Jaytem. Failure. Nothing for a year. And then, only maybe.

To answer your question, the share price will continue to collapse, just like the hole they drilled into an imaginary discovery. This stock has always been 'pie in the sky' stuff. For what it has, it's worth less than £50m, which should give you an idea of where the sp will settle i.e. lower than previous lows. Absolute shambles from start to finish. I mentioned this would happen last week.

Head over to i3e. Do your research and you'll be amazed at the value in the company. Real value that is, being a producer of 10,000boepd, almost zero debt, low-cost producer, gas/oil mix, significant near-term production upside, massive exploration upside etc. DYOR and find out for yourself.

Dunno Bwana. American money would find this very cheap given the dog**** they normally throw money at over there. It's American money that's driving the mania over at 88e (via Reddit etc). I think you'd find we'd be valued at double where we are now if they were easily able to invest their cash in the company. If Graham is thinking this way then I like it. This sort of listing would be a great way to raise cash for the right acquisition (or drilling program), and to defend the company from a smash and grab t/o. If 88e are worth +£400m on a pie in the sky drilling program alone (@50% of whatever they find), what the hell are we worth with +10kboepd, no debt, dividend, and the same drilling upside in areas where 'discoveries' have already been made and/or there's existing production alongside existing infrastructure. The Reddit crew would triple the value based on this and a drilling program alone in the Nth Sea. Food for thought at least. Looking forward to the next 4 weeks. GLA

It's where I make a lot of my money. Pretty simple really. Like you.

Serious question, did Doc mention that Graham talked about a US listing in his call? I thought I read it somewhere and it was one of Doc's posts. Or maybe I just dreamed of dead eyed American money finding its way to i3e.

Maybe a tool and a keyboard warrior Cryptoniteman (wtf kind of name is that btw). But one that knows the basics of investing enough to collect more in tax free dividends each year (across 3 x ISAs) than you probably make in a year. Go think on that superman. Even my biggest moonshot stock makes more sense than this garbage.

Ddraig, nope 88e doesn't have 100m recoverable. It doesn't even have a discovery yet. It has some pie in the sky 'prospective resource' numbers. Go and read a glossary of oil terms, things like 1P, 2P, 3C, prospective etc. You should have a basic understanding of the sector if you're going to invest in it.

Jofhoggit, if you were researched you'd see i3e are a low cost, low risk producer of 10,000boepd. They have next to zero net debt i.e. less than $20m (almost unheard of in O&G). They have huge exploration upside in both Canada and the Nth Sea. In Canada they have mapped on-shore areas already producing, alongside huge acreage in the most economical basin in Canada (Clearwater). They also just discovered, and flow tested a 500boepd well in a whole new formation. In the Nth Sea they have already made a 'discovery', with estimated recoverable resources at 100m+ barrels. So well ahead of 88e. They also just announced a 6% dividend, which is higher than BP and Shell. This dividend only represents circa 20% of fcf. I own over 0.5% of the company, which you'll note if you spend a bit more time researching my O&G investing background. Oh, and I'm almost £200k in profit at the moment. So no 'green eyed monster'. Just absolute disbelief at the ignorance of this board.

Brom, I agree some investors have made good money here. My first post was saying that following forums like Reddit and Stockwits is almost an investment strategy now. You just need to find a 'moonshot' stock before it's gathered momentum and then drop out after it has taken off. To those people, all I can say is 'well played'. To everyone still holding, I don't think you realize the size of a commercial discovery that needs to be made to justify the current Mcap (remember you only get 50%). You also won't know about how big it is for about 1 year. Good luck is all I can say. You're going to need it.

Agreed JAdam. I'm hoping they're waiting for a 'big announcement' and then start up the PR machine. It's non-existent at the moment. They need to do much better given trust is one of the things that is currently holding us down. A Reddit or Stockwits thread wouldn't go astray as well. Also, did Doc mention that Graham talked about a US listing in his call? If this is the case then we'll double in value on that alone. Imagine the amount of American m@ron money that can be tapped into across the pond with even a touch of PR.

Anyway, I just popped over to 88e to abuse them for being degenerate gamblers. Extraordinary how ignorant the average investor has become in lock-down.

Where's Rambo today? I hope I didn't hurt is feelings.

Rambo, if you're out there it's ok to come back. I promise I won't ridicule your spelling, grammar and language when you're calling someone an imbecile. Unless of course this was a safeguarding issue, and your guardian found out that you've been putting your allowance into Zioc...? If that's the case then it's best you don't come back.

Is that a joke? You mean the operations update that doesn't confirm a discovery? No mention of mobile oil? No mention of oil type? No mention of estimated reserves? No mention of estimated recoverable reserves? No mention of flow testing results? In order to justify the current MCap this stock would need to strike more recoverable 'light' oil than what they've estimated (dreamed up) the field to have. That doesn't even take into account that 50% of any 'discovery' is owned by 88e. The absolute ignorance of people in the market now is mind boggling. To people who are new to this game, do some f@cking research on the oil market before you gamble your government pay-outs in a company like this. You might find, aside from the many failures of this company in the past, the odds of this being a 'commercial discovery' are bugger all. Let alone big enough to value the company at multiples of +10,000 beopd producers who have a 100m boe in recoverable reserves already discovered.

Jesus Slider, you've missed the boat mate. You buy into these things when the chatter starts after something like a 'drills turning' rns. You're getting in before the announcement. You missed your safe chance to get a 5 bag. Anyone buying now is completely out of their mind.

We need to get on some of these h@lfwit investor forums like Stockwits and Reddit. Not sure if any of your have been following the 7x rise of 88e over the past month...? It's driven solely by these forums. I imagine Doc's investment thesis popping up on people's radars in these forums would take us to 30p in a heart beat. Truly mind boggling how the market works.

I think it's almost becoming an accepted investment strategy to take direction from Reddit and Stockwit type forums for 'hail Mary' companies that have just popped up on people's radars. Then get out before any real news is due. If you're in profit then sell or top slice because it's a binary play and the odds of these guys hitting anything of value is f'all. Having said that I do wish I followed forums more. The market is one of the few places you can legally make money off the ignorance of the average investor. And Reddit, Stockwits etc. are where you'll find all the degenerate, h@lfwit gamblers you need to make some serious profit. Much more of them on the other side of the pond, which only highlights the limited intelligence and dreamer mentality of the average American.

Why the plummet? Seriously? You're asking why a company that has ever known success, and is valued at +£400m, is plummeting?

Agree the numbers don't look quite right from WHI. But then again they never do. Well researched PIs like doc and yourself usually provide the best view of a company.

The numbers you've mentioned below sit in-line with my estimates, which is why I'm so excited about the near-term value here. I'm sure I've read the 'normal' fcf multiple for Canadian plays similar to us is 4-5x (ignoring their ridiculous debt levels). In fact you may have provided that at some point. If you use these multiples on current 'reasonably' estimated fcf (circa £20m) and add Noel fcf you land on a range of 13-16p @ current prices and production levels. But then you need to consider the impact of a couple of successful Clearwater drills (and upside due to size of acreage and proven reserve / production potential), a divi that's paying +3% even at 20p, and what many keep forgetting - our very low debt level, which is unique in itself. When you look at these things it's an easy double from this level in a few months. But there's more, a huge f/o opportunity in the Nth Sea, producing sweet sweet Brent. As I've said, an easy double from here, and with some Clearwater drilling success potentially more. Nth Sea drilling success and I start to lose my mind a bit.

The confirmation of divi payment date, Canadian drill plan for 2021, and some hard production & financial numbers in the next 4 weeks will be the start of the re-rate to 15p. Some drilling success stories and f/o announcement is what will take us to +20p. All of these things I believe will happen in the next 12-16 weeks. The market is slowly waking up to the opportunity here, and trust will be quickly established once some of the nailed on announcements are made. When that happens, we'll reach fair value, which should also take into account upside. In the meantime I look at dog**** like 88e and scratch my head a lot harder.

To answer your post from last night, yeah I'm pretty happy with the divi Tony :)) But I'm even more excited about the capital gain potential here. We're literally weeks away from the mechanics being finalized for the divi to be paid. I'm expecting this to give us a small boost to the 12p area (circa 5% yield). Then we have a quarterly update that will provide the numbers, in black and white, which we've all been guessing. This again will solidify value for the company, and if combined with a multi-well (10+) drill program this year into the Clearwater and Noel areas then I'd expect us to be sitting on 15p by this time next month. Given how they keep us in the dark I wouldn't be surprised if they've already started drilling some targets. And then of course there's the f/o. What better time to announce than just before your first post-transformation quarterly update. If these things happen I simply cannot see us below 15p, and wouldn't be surprised if we're at 20p. Two out of 3 things will happen for sure. The f/o is the wild card. And all the while we get a divi that will only increase in value as they drill more Noel type wells and brig them online. The biggest barrier I see between us and 25p this year is being taken over. We're great value at 20p now, without a f/o. Throw that into the mix and drilling this year in the Nth Sea and why the hell wouldn't someone stump up £150m for the company. Looking forward to the next 4 weeks, especially if OPEC extend cuts. GLA

Correct Doorstop, they haven't stated the % of fcf pay-out. We know it's somewhere between 20-30%, but given they have been saying 'up to 30%' pretty consistently, and now '20% minimum', one could assume it's closer to the lower end of the range. Either way it's probably safe to assume £20m fcf being generated, which would be about 22% by my reckoning. Pretty good result.

Agreed with your last post Doc. The only potential banana skin is poo and gas in the coming 6-12 months. For this reason I'd like them to announce a hedging program of circa 50% current production. This will protect fcf (divi) and expansion plans. And as we add more production the proportion that is hedged will of course decrease, which provides potential upside if oil strengthens. Having said this I'm not as confident as many on WTI remaining near $60 in the near term. I do think it will be above $50, and in the medium term (2-3 years) we'll be at $60 or higher than where we are now. But there's a lot of supply being held back at the moment. And that's the reason why oil is sitting where it is. If OPEC add just 2m boepd the price will drop by $10 in no time. And Iran is supplying oil to China, which will depress demand from them in future. So I can see poo volatility in the near term. But longer term we should be good.

If OPEC extend supply cuts into May and June, mgt announce a strong drilling program in the quarterly update, and we get the the long awaited f/o in the next 8 weeks then I see us sitting quite solidly in the 15-20p range. Especially if we have a hedging program in place and a plans to drill Nth Sea before year end. The bod have already delivered the divi announcement. Roll on divi payment, Canadian expansion plans, and the Nth Sea f/o. I imagine a few will jump back in once they can see when the GLA

Btw, have you updated your list of commandments yet? I'm truly looking forward to the next iteration.

Are you feeling a little sore still from the last time I put you back in your box Barnyards? Anyway, sorry to disappoint you with my last post. I'm quite happy taking a £25k dividend this year at current projections. It will of course be higher if they increase fcf. Not sure what you were after - Care to elaborate?