Member Info for happy_hatter

What a short sighted post guzzler.

Facts are 88E has 4 projects. It is not heavily reliant on WINX as much as RMP.

IF WINX fails (which I don't expect it to), 88E can fall back on three other projects. Yukon being the dark horse.

Do you really think DW would add this into quarterly release if it was all hot air? I don't think so!

'The Project Icewine Conventional Portfolio farmout campaign of the Central North Slope acreage continued throughout Q4. The level of interest and the calibre of parties visiting the virtual and physical dataroom remained highly encouraging. The Company is seeking to attract a farminee to fund and participate in the exploration and appraisal drilling of the significant prospectively delineated on the Western Play Fairway and to further the exploration effort on the Central and Eastern Leases'

By my calculations the rig is on site now.

There is a price glitch on a few shares on lse. Currently showing RMP as 4.3 pence but should be 4.4 pence

My rig is bigger than your rig

How many majors on that list had access to our data room?

Probably 75% of them

We are surrounded by major players:
BP
ExxonMobil
ConocoPhillips
ENI
Repsol
Armstrong
Oil Search

Apparently Alaska is the oilest place on earth.

I think 88E will prove itself this quarter.

Commercial Oil at Winx + favourable conventional farm out = historical highs as a minimum

All to come this quarter with some luck on our side.

I always read the Horseshoe paragraph twice to remind me of the close proximity.

'Winx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective oil resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk Formation, which is the primary target of the well.'

1 mph for 90 miles beginning 1st February.

The rig will be sitting on site now.

Almost 16M volume down under and that was before any announcement.

Nice to see it picking up. Sign of things to come hopefully.

It is not clear to some shareholders what a good FO deal would be and how it would add immediate value to the business. It always leaves me scratching my head.

Its amazing how quickly sentiment will turn when a FO deal is announced (I am confident it will be this quarter and before WINX results). It is all about future proofing, desrisking, not as much need for placings/funding and the belief of a heavy hitter on board with 88E. I am looking forward to FO announcement as much as I am WINX.

Quick thoughts, if DW can get a deal along the lines of these three points:

1) Expenses to date paid in full whatever that is in $ terms (anyone know the amount?)
2) Up front cash payment of say $60m
3) 25% free carry stake going forward on conventional resource (75% to new partner)

Then as shareholders we can sit back and let a much bigger industry player monetise the conventional resource.

I would take that right now.

It would leave DW to develop our other three projects and generate shareholder value there.

What a beautiful site!

Great research D45

I think conventional farm out before winx spud.

It’s February, we are only two weeks away from spud of winx.

I’m expecting volume and buys to increase to finish up this week.

An update on winx drill too.

And maybe a major farm out announcement on conventional.

So much news to come.

Brom: am I correct in saying that all the current permissions is in place for it to happen this year as according to the 88e timeline on presentation

As of September 2018 DW had used all his post tax 88E salary and put it all into 88E shares.

Many forget this.

DW personally has so much riding on making 88E a success.

Thanks for sharing.

Huge numbers quoted in that article.

In Alaska, ConocoPhillips reported earnings of $445 million for the fourth quarter and $1.8 billion overall for 2018. It's estimated tax and royalty payments to the state totaled $292 million for the quarter and $1.2 billion for the year, according to a ConocoPhillips Alaska spokeswoman.

RNS 30th July 3018

Project Icewine: Farm-out Dataroom Formally Opened

The dataroom related to farm-out of both the conventional and unconventional prospectivity at Project Icewine has now been formally opened. 88 Energy and its Joint Venture Partner, Burgundy Xploration LLC ("BEX"), are aiming to complete a farm-out prior to year-end that will result in significant expenditure over Project Icewine to continue evaluation of the large conventional and unconventional potential identified over the past three years by the Joint Venture.

It will be all done in one go.

Or

The conventional farm out will be signed and announced 1Q2019 and then chosen major will have a small window (two months) in order to sign the unconventional farm out (dot the i's and cross the t's) before the horizontal drill in Q3.

Its all looking pre-orchestrated. Remember the data room has been opened for 6 months now. It took Armstrong & Oil Search 7 months to complete the deal. We must be very very close.

moneyhawk which is why I believe that the upcoming farm out will be for both the conventional and unconventional.

Why open the data room on the same day (30th July 2018) for both plays if the intention was not to generate a farm out for them together?

In this weeks presentation we were told about the HRZ play: 'Integration of Icewine#2 results underway – farm-out targeted 1H19'

1H19 covers this quarter too which is when we have been told conventional farm out to be completed.

Why I think DW told us back in September he would give more time to a tier1 major if they needed it was because at that stage he was unsure if the conventional and unconventional would be done as one deal. Would a major be interested in taking both on? Looks to me as if the answer now is yes since the timings of conventional has been extended, and we know HRZ farm out target is for 1H2019.