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Correct, and this time there is no wording around proposed, scheduled etc.....an update WILL be provided, so if this one is delayed past the first 1.5 weeks of August there will be warranted displeasure.
It all looks good and sounds positive. Much of it we already knew of course through previous announcements but nothing has deviated which is positive. The conventional FO is going to be a little longer, no drama for me, although a lot of people will wake up in the UK and start whinging about it not being divulged on some imaginary deadline they have in their heads. I suspect there are a number of complexities around finalisation and working out and agreeing on a communications strategy to shareholders / stakeholders in all companies. Patience and we'll get there. Exciting times ahead.
31st July 2019 QUARTERLY REPORT Report on Activities for the Quarter ended 30 June 2019 The Directors of 88 Energy Limited (“88 Energy” or the “Company”, ASX & AIM:88E) provide the following report for the quarter ended 30 June 2019. Highlights Project Icewine ? Project Icewine Conventional: farm-out process continued in Q2 with preferred bidder; o Third party due diligence process completed in the quarter; o Farminee internal approvals complete prior to end of June 2019. ? Project Icewine Unconventional: advanced FIB-SEM and HAWK analysis undertaken during the quarter which significantly advanced the understanding of the HRZ shale play; o Majority of acreage remains within revised prospectivity fairway; o Additional application of FIB-SEM underway to validate fairway revision; o Franklin Bluffs (Icewine#2 location) considered to be marginally outside revised fairway; o Formal farm-out process deferred to 2H 2019 – soft farm-out underway with continued third party interest. A more detailed update on the conventional farm-out will be provided in early August.
and here it comes.
It's only 11:20am Wednesday 31st here in Australia we still have 4.5 hours of trading so the report could still be released by the required deadline. I am awaiting quarterly reports from a number of other ASX listed entities also. I don't think there is anything suspicious to it at this stage.
If it's an Australian / ASX listed FO partner 88E should go in to a TH at the same time as they both have an obligation to release the Market Sensitive information to the shareholders.
Target = to set an objective or to have intent to complete something.
Deadline = the latest time or date by which something should be completed.
How the market “views” the current state is irrelevant, the definitions cannot simply be modified to suit market reaction. In any case the SP has improved significantly solely off the lead up to the FO since WINX sent it tumbling to a year low of 0.725p so I’d say market reaction has been very positive to this FO so far.
They weren’t deadlines, they were targets and schedules.
The egg came first as reptiles lay eggs and snakes for example existed before chickens.
That would be the dream for me. Full take over at 30p per share
What will CNOOC do our SP I wonder :)
“Mergers & Acquisition Advice & Execution”?
Alaska sees record temperatures in heatwave https://www.bbc.co.uk/news/world-us-canada-48890556
If I'm correct that also may mean the brokerage fee may be reduced to 0?
I had it happen a few times in CommSec (Commonwealth Bank for ASX trading) it was very handy.
1.8c
I have been a part of several consolidations and every single one of them has had a brief blip and then rapidly headed south. Could just be bad luck I'm sure there are successful ones out there but I don't see the need.
I liken it to sticking a shiny red Ferrari body shell on the Chassis and engine of a Ford Mondeo .... it might look good on the outside but underneath if its rubbish before it will be rubbish after, break down, cost money, lose money etc etc. How about we get the engine and chassis working better first then we might be able to upgrade the whole lot to a Ferrari.
Also I don't see sophisticated investors falling for the trickery of a Consolidation which is all it is. Of course it enables a new market of investors to be able to buy in but from experience these things always find their level which is usually somewhere between what it was before and now is, except the mcap is impacted.
Incremental changes are usually smaller also post consolidation. Going from 1p > 3p on some good news is a lot easier than going from £10 > £30 ...... in my opinion.
My favourite spread is Marmite
It has never been stated anywhere that the preferred bidder is Tier 1. It was only ever stated early on that we had "multiple high-quality parties" interested.
99.9% this is going ahead. Won't say 100% as still not signed but nothing I can see would stop this. Excellent hump day news!! small uplift in SP I think, maybe 0.018/19 today as anticipation will be building as to who it is. I can relax a bit now.