Member Info for happy_hatter

Nice spot bullson, I had not checked the marine traffic in a couple days. Looks like we have some action. As you say, we have two supply ships, Skandi Foula & Standard Princess next to West Phoenix.
Once West Phoenix starts to move it will be a signal for some to start moving funds into here. I am watching marine traffic very closely from now.

Page 12 of Corporate Presentation: 'JOG investing c.£11m to increase proven recoverable volumes potentially 5 fold'

This is the reason why I am buying and holding. I have attended Andrew Benitez presentation at Oil Capital Conference a few months ago. I was impressed. Now the time is getting very near to when we will hopefully see that value creation.

Selling in volume is not an issue. Its buying. A good sign.

Frustrating not being able to buy in volume. My two brokers will not quote me for a 5000 share buy. Will settle for 2500 shares and keep adding.

Added more yesterday. I think people seem to forget that we had a placing in Oct 2017 at this 200 pence level. The company has made some solid progress since then and we are still at placing levels some ten months later. We are fully funded and have an exciting appraisal drill in the next three months. Also worth remembering is Schroders plc topped up their holding in February 2018 to 10.2%. If they are happy to buy and hold then so am I.
My prediction is 300 pence by spud and then a rerate on appraisal results.

We must be approaching 25% Frac Fluid removal.

Target is at least 30% to see the liquid hydrocarbons and it could be SOONER or LATER. We know the oil is there.

As each hour and day passes we get closer to unlocking the HRZ. That tube is getting lighter each minute.

It is taking longer than some expected but I still think we will see the black stuff in July or August. Slow and steady.

Brom - with each barrel of frac fluid that comes out of that well the load in the tube gets lighter. I am waiting for that kick! Plus if DW has lined up winterized equipment then it certainly is game on. I still have massive faith here. Good Luck

Looks TO me the buyers are back in town. Some decent size trades too. Will watch final 30 mins with interest. Come on DW give us the forward plan :)

Looks me the buyers are back in town. Some decent size trades too. Will watch final 30 mins with interest. Come on DW give us the forward plan :)

Martin68

You make an excelllent point regarding winterised equipment. Have they got it in place this year? If so, can testing go on beyond early September?

If they can get the frac fluid recovery back up for 75-100 barrels a day then we are looking at mid to late July for initial 30% removal. That should still give plenty time for flow testing assuming we see those liquid hydrocarbons.

Part of the RNS states 'The early results from the flowback were within the range of expectations; however, given the reduction in rate of returned fluid, despite the optimised lift settings, the timeline and forward plan to achieve the return of 30% of injected fluid is being re-assessed'.

They will be working on a plan right now and informing the market soon of a new target date to see 30% recovery. We have some of the best guys working on this, patience is the key. I will not be selling myself short thats for sure!

£70,000 pound purchased within last five minutes.

£20k, £20k & then 30k

I am glad some are seeing value here.

This is not over by a long stretch. Yes delayed by a couple weeks, but its just a case of getting that heavy frac fluid out of the way. Patience.

Now they are all sitting at 2 pence or above. Sun shining and blue day :)

Great start to the day. Four out of the six market makers are sitting at above 2 pence. Going up!

20% under placing price too which seems to have been forgotten. Bargain basement.

Sounds like 88E have it all under control! 'as per expectation' 'as expected' 'as expected' 'in order to manage wellhead pressure' 'As per the flowback design' 'Flowback commenced, on schedule'

The 6 weeks prior to IW1 results the share price fell from 0.6 pence to 0.3 pence. The rest they say is history, the shares then the following 6 weeks post IW1 results went from 0.3 pence to peaking over 3.75 pence. Ten times your money. I agree with those who have already pointed out the similarities in IW1 and IW2 price action. In just over two weeks shares have gone from 2.8 pence to todays 1.7 pence, a drop of approx 40%. Point being, the post rise can be as sharp as the pre fall. IW1 did ten times the share price post results, don't be surprised if IW2 does it too. Exciting times!!!

Jiddy - you are correct, the current share price is an absolute steal. The risk v reward is the best on AIM. All to be revealed between now and the next three weeks!

Buys now going through as sells. How long can it be held down at these suppressed prices? The value generation here will be incredible if the well does what we think it will. Hold on to your hats. It's all going to happen anytime between now and the next three weeks.

Notable uptick in volume and more importantly buys in the past 30mins. I have all crossed that this well will do its thing.