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As I said, gobby. 2022 and I believe that was NTOG?
Shares are for buying and selling, did no one explain it to you? Maybe you should get down to the building society; simpler for you.
Maid. Yep. They are just burning through cash in Alaska and don't have much to show for it. 50 bopd on a vertical, maybe 600 bopd on a horizontal; madness.
The Damara Fold Belt is the best thing they have got.
DYOR
Https://www.share-talk.co.uk/announcements/rns/88-energy-limited/proposed-placing-to-raise-up-to-a-9-8-million/34238926
Namibia
In February 2024, the Company announced the successful 20% WI transfer by Monitor Exploration Limited (Monitor) to 88 Energy in relation to PEL 93 located in the Owambo Basin, Namibia following receipt approval from the Ministry of Mines and Energy.
The Company, via its wholly-owned Namibian subsidiary, previously executed a three-stage farm-in agreement in November 2023 for up to a 45% non-operated working interest in onshore Petroleum Exploration Licence (PEL 93), which covers 18,500km2 of underexplored ground within the Owambo Basin in Namibia (refer to ASX announcement dated 13 November 2023).
Under the terms of the agreement, 88 Energy may earn up to a 45% working interest by funding its share of agreed costs under the 2023-2024 approved work program and budget as defined in the Farm-In Agreement (2024 Work Program) and any future work program budgets yet to be agreed. The maximum total investment by the Company is anticipated to be US$18.7 million.
"Namibia has been identified as one of the last remaining under-explored onshore frontier basins and one of the World's most prospective new exploration zones. PEL 93 is more than 10 times larger than 88 Energy's Alaskan portfolio and more than 70 times larger than Project Phoenix.
Recent drilling results on nearby acreage has highlighted the potential of a new and underexplored conventional oil and gas play in the Damara Fold belt, referred to as the Damara Play. Historical assessment utilised a combination of techniques and interpretation of legacy data to identify the Owambo Basin, and specifically blocks 1717 and 1817, as having significant exploration potential.
Monitor has utilised a range of geophysical and geochemical techniques to assess and validate the significant potential of the acreage since award of PEL 93 in 2018. It has identified ten (10) independent structural closures from airborne geophysical methods and partly verified these using existing 2D seismic coverage. Further, ethane concentration measured in soil samples over interpreted structural leads validates the existence of an active petroleum system, with passive seismic anomalies also aligning closely to both interpreted structural leads and measured alkane molecules (c1-c5) concentrations in soil.
DYOR
The forward work-program will start with a low impact ~200 line-kilometre 2D seismic program focusing on confirming the structural closures of the 10 independent leads identified. The 2D seismic program will be conducted in mid-2024 following a period of planning, public consultation, updating of environmental compliance requirements and relevant approvals. Results from the 2D seismic program will then be incorporated into existing historical exploration data over the acreage, with results used to identify possible exploration drilling locations.
Https://twitter.com/88EnergyLtd/status/1782622580157141001?t=AR2GuN5htjr0Fpp2wFyGqg&s=19
Recon Africa drilling June 24.
Elephant Oil/RRR.
DYOR
Some old information.
https://www.proactiveinvestors.co.uk/companies/news/363/red-rock-resources-recent-activity-suggests-a-bigger-game-plan-is-in-play-2796.html
DYOR
Https://twitter.com/PeterSchiff/status/1782397874271092819?t=6ZeVwTH67css7LejpKTWvQ&s=19
DYOR
Yawn Doggie, how does this work as soon as I say anything reasonable, then something has gone wrong and I am in the know?
I have said multiple times on different things that it ain't done till it is done and I have also said several times, no business plan survives contact with reality.
RRR is moving a lot of people into Bilbale, they need visas, they need accommodation, they need catering and so on. What you should be reading into it is that what is envisaged is a lot bigger than what you think. Getting 2/3 people there for a one week site visit, setting things up so that a lot of people can work on site is different. AB has said he is going out there for the start up of production; is he going to kip by the side of the wash plant in a sleeping bag and a mosquito net? You are the ones who said, it was a tuppence ha'penny operation not me. What you are running up against is that your snide comments conflicting with reality.
Are AB and Sam going to rough it out there camped out for an ounce of gold a day?
DYOR
Dukey, there is no need to constantly provide proof of how intellectually challenged you are; I have already taken note. Please explain why insisted no one would want to buy Musonoi and it was worthless, just at the time that Glencore was preparing to pay $430mil for it and the same with why you insisted that RRR would never get its Kenya licences reissued just as it was getting them reissued? Your judgement is zero in these matters. Anyway, are you supposed to be organising your new Trabant?
And you think that is all that can go wrong?
I said a while back that just as no plan of battle survives contact with the enemy, no business plan survives contact with reality.
What RRR/FML is planning is not a small operation. There is the movement of a lot of people, visas, accommodation, provisions, getting the kit there and so on.
Hopefully, we get some sort of update this week.
Fingers crossed.
DYOR
Https://twitter.com/jczuleta/status/1782298005908983909?t=Hu2_UzDQBQdHq9hgq8k0nA&s=19
DYOR
Bye then. Not sure what you want an answer to but I do have fund management qualifications and have run funds. I haven't done so for a long time because it is largely pointless.
Where the money is, is in taking positions in fundamentally mispriced assets. Reversion to the mean is a universal principle.
The trolls drivel on about the share price and capital raises. I have hinted a few times but as usual they either don't take the point or area capable of taking the point. RRR's share price and market cap is where it is largely as a result of its best assets being stolen. When the quantum is submitted in its claim for tortious interference those losses will be factored in.
If those assets hadn't been stolen all of its other assets would be further on. That will get factored in too.
Quite why Big G wanted to steal the assets and why/how they set the price at $430mil is beyond me but they did.
DYOR