Member Info for Gman93

And why would that be bad?

Other than dilution, I agree I can’t see this going much lower. Think we may see more dilution first but could be a great time to buy after. Change in legislation, CE approval or significant revenue increases could really accelerate this company. With momentum, I think we could see this with a £50m+ MCAP easily. Just hope all the silence is leading to something promising.

I believe Merlin flow tests were end of March/start of April. With no drill this time, I would anticipate first results late feb/start of march. Weather dependent for the ice pad and road etc.

Proof will be in the flow test and results. Anyone can speculate ahead of that. Roll on next year.

I’m not trying to make enemies here but someone please help me understand.

We raise capital by diluting at an ATL so we have the funds to go it alone. Now we let the JV continue when we could of had them default. Yes we have derisked, but also reduced our potential payday.

So we’ve raised some extra money. I’ve seen the money disappear many times during my observation of the company. Surely we should of used the money from the JV and not diluted the price yet. Then towards the flow tests, dilute when you would assume the SP would be higher like previous years.

Just doesn’t make sense to me how we have gone about it. Seems the wrong way around.

We have a few more million in the bank but most of our investments just dropped another 10% raising funds prematurely. Please someone just tell me why it wouldn’t of made sense to be greedy and take 100% WI if we are confident, knowing the potential upside? Not trying to be provocative here just hope someone can give me an informed perspective that I’m missing.

We have launched a festive gift set with just 20 days before Christmas. Why hasn’t this been done at the start of November and marketed over the Black Friday weekend etc.?

Not sure how to take this.

Just diluted existing shareholders so we are fully funded. Burgandy don’t have all the cash so surely they could have forced them to default and take full working interest? But they would rather take potentially £3.7mil instead?

Positive to see that they are committed as mentioned below. Let’s see how the market takes this one.

Clearly a lot of activity given the trading volume over the last few days. This has been the most activity since the drill last year. Of course, we all know 88E’s past. It’s easy to assume this will fail like those previous.

But it’s my view that there are many successful people/businesses that have gone through this process where they fail multiple times until they succeed. Why is an exploration company any different?

Hopefully we will get news tomorrow regarding the default. I think this will change the sentiment and take it back in to the 0.3’s, if not early next week.

All they need is a proven asset to sell. With a buyer or JV, I’m sure we can agree this would be transformational as mentioned. GLA

Thanks for that redirons. All the buys suggest to me we are going to see something positive. After asking existing shareholders to buy more at 0.31, it would be disgraceful if they now did a raise via dilution just a few months on.

PANR have utilised a variety of methods lately to avoid simply diluting existing shareholders significantly and managing their debt issue. I hope 88E have learnt a trick or two from that. Fingers crossed for the announcement.

Yeah my mistake 2. Says it once on the second page and everyone else’s comments hadn’t loaded.

Could it be reserve based lending instead of dilution due to recent NSAI report? New to this so be nice if I’m off lol

£270K of buys today with less than £1.5K no sells. That’s high volume given nothing happened. This is giving me the impression it’s positive. Not the usual time they would do a raise.

Trading halt pending announcement

£200k of buys with next to no sells and it finishes down lol. I’m still optimistic heading into next year.

Don’t understand this at all. £1.73K of sells this morning and share price is down to 0.28p. Then £80k of buying and it’s only back at 0.3p lol. Lot of people saw a good opportunity today though. Wish I’d bought some more too.

It’s gone so quiet. I wonder if this is the calm before something big. Ian has been there 6 months now and so far has shown little to no impact. Not commenting on his performance here, as it’s too early to tell. But he hasn’t personally invested £500K at double the current SP just watch this share crash. With his track record/experience, I predict something is on the near horizon. I don’t think this will be sub 10m market cap very long. AIMO and still with a lot of confidence despite the SP activity since the company IPO’d.

Scot126 - he’s only just come out of hiding since he talked up PANR before it’s 90% drop. And now bitterly, he comes on to the 88E forum to trash them because on the back of PANR news, PANR have dropped and 88E has rose.

Most people have him filtered, but to any new comers please do your best to take his views with a pinch of salt. He always has a biased argument about why PANR fundamentals are better, years ahead etc etc. yet simply put, the SP doesn’t reflect his views.

Now his only argument is based on up-dip reservoirs that apparently 88E must not be aware to as they ‘naively’ move forward towards their flow test early next year. As much as I do see an attraction to PANR (I’m invested in both), there are still fundamental worries regarding their finances and convertible bond debts. Additionally, in more up-dip reservoirs, there can be greater amounts of gas causing other issues when trying to flow the desired liquids.

Please DYOR. He can be informative but misleading.

5p is over £1B so I do think that is achievable but only on strong flow test results.

I think an important point to note is that a lot of people had extra cash due to the COVID period in the run up to the first Merlin drill. This time it is very much the opposite with many economies struggling and people feeling the pinch with their personal finances.

Encouraging data from the neighbours could be a decent catalyst. I’m personally much happier (despite the time it’s taken) that the company opted to do the flow test a year later with a lot less pressure of timeframes due to the narrow Winter season.

I suppose only time will tell. I do see a projected uplift and struggle to see this dropping into the .2’s.

Fully agree , share price didn’t spike because of no flow test. Yes 650m currently but we have a resource upgrade to look forward to making that jackpot even larger.

Red beard - I understand the point you raise about shares but Market cap is what’s ultimately important. What did this hit for Merlin pre drill? £1B or more? Of course there’s been dilution since then which is bad for existing share holders but all I have done is average down. This is currently valued around 70m.

In terms of plans; I guess they need to know about the flow test results before they can plan the next stages. I’m sure they have both scenarios plotted out and will act accordingly based on findings.

Ultimately, 650m+ barrels of oil is gonna be worth a hell of a lot more than £70m currently. Based on previous drill hypes, this easily has the potential to still reach the pennies.

But one scenario we have never seen, is a successful flow test. Where would the SP of reached if Merlin was successful. I’ve followed this for 2.5 years now and this really is the most encouraging opportunity I’ve seen to date.

I don’t think the hype before the flow test is the big question here; I think it’s whether you stay in for the results.

AIMO - GLA

Typically, we will see a CR before the flow test when the SP is elevated meaning not too much dilution.

All to come imo. I bought in the other day as I think this will take them to 0.4’s and beyond prior to Q1 flow test. PANR data may also help boost the SP