Member Info for Ibiza28

Personally i think MB might just have chosen that time because of the presentation to have a short holiday and the presentation date timed it all nicely. The presentation was around 7.00 i think it was that MB was on which with a 7 hour time difference to Singapore or Mongolia would have meant presenting at 02.00 in the morning his time. I do not know about you but after a days work i am far from my best 02.00 in the morning and the performance of the presentation would have been poor and then everyone would complain about the performance and presentation. I think he just timed the two together so that the presentation was 20.00 Italian time.

It looks like this share is becoming a binary decsion unless you have had the nouse to trade through all of this week on week and are now effectively holding all your shares for either nothing or very little per share. I had plans on partly de-risking early part of next week i think they will have gone for six. Looks like i am in for the duration and let us just hope the next statement is we have made a discovery.

Is not there something missing from this statement or at least imo there is something missing onthis statement. " Buy on rumour sell on the news except when the news is good" Am i missing something but to me that is about as gppd an RNS as it could be. Ok the oil did not exactly come out of the ground and hit them in the face but then this is not a movie and that only happens in movies i should imagine and oh yes i forgot they had a BOP in place so who knows maybe it might have done. At the moment there is no mention of how big anea this might be in terms of width and depth but i assume that is going to become clearer in about a week or so. So if they want to buy on the rumour then let's start a new rumour. IT IS GOING TO MASSIVE. Now maybe the price can start going up and i can de risk at a decent price. Damn thing reached TD a week too soon.

Yes at the moment do very much own the company but in some respects that news and the news that there seem to be very few major shareholders in here give me confidence that if we strike something good here in the next couple of weeks this share will jump significantly very quickly. My reckoning is that when the big boys know exactly what we have got they will pile into this share leaving the PI's well behind. After all everybody has their price . Mind you if we get nothing more than the tepid RNS from last year which hardly did anything to inspire then this share will just sink back into oblivion for another year. Personally i am not sure how many years there are left for this company to explore. After all how many times can we take donkey to the water and make him drink. At the moment as one pundit put it on stocktits put it 88e is looking like a movie sequel. And most movie sequels except one are a pale imitation of the original. Let us just hope this share is the Godfather 2 rather than most of the other sequels.

This is possible but it all depends in my view on who the big players waiting to come into this share and that is going to depend to a large degree on what the next RNS is likely to say. At the moment there are probably a number of us who have a million shares and probably a bit like me bought bit by bit when we can afford to buy them. But i reckon there will be some really be some far bigger players wanting to buy several million in one go come in on the basis of the RNS (assuming good) and then there may be even bigger players come in when the oil starts coming out of the ground. So yes depending on RNS and who is and who is not involved and whether any of the big fish start to discover and re-discover Mongolia we might be into something that might get really hot.

goodness how i wish you will be right. Only time will tell. At the moment we seem to be stuck around the 4p mark and that is the stop losses being sold off i assume. Once they are all cleared my reckoning it is on wards and upwards till the next of stop losses.
As regards dividends i would tend to agree with another poster who said not in his lifetime although i would not be quite so dramatic as i hope to live a few years longer than that but unless something exceptional ahppens very quickly no there will be no dividends. Firstly the company has to get rid off all its negative reserves on the balance sheet. A company cannot issue a dividend that takes reserves negative or whilst there are negative reserves. Also it is amazing the number of times a company gets to positive results how the BoD suddenly remember the pay rises they have forgone and the bonuses they should have had but never did. Then us shareholders will have a look in. So yes probably not in my holding unless we do a major farm out.

I know it relates to the year end accounts but why put out what is effectively a Corporate Governance Charter now. I have a habit of making 2+2=5 but i do wonder about the timing of these issues. I really do think the company is preparing the way for after Merlin 2 whatever that maybe. At the moment i cannot see how this fits into the whole picture but i have a feeling it will become obvious soon. Personally i think the company already know what they have found and will be finding but are awaiting confirmation.

I am presuming that DQE have come back to the company regarding the queries the MB had and other offer. If they have not i would assume we might have heard about other sources by now. Also i presume they have reached agreement and they are still at table otherwise again i would have thought we had an agreement. What i am getting concerned about is the reaction to this share when the RNS does drop regarding DQE i fear it is being built up so high that the share price could instantly drop as it will not match levels of expectations but i would hope that eventually commonsense would kick in and realised we will be quids in even if a lot less than we might have hoped.

Finally, I would also like to thank you, our shareholders, for your ongoing support. The 88E business modelhas always focussed on targeting large-scale hydrocarbon deposits. The size of the prizes we are pursuing islarge, and sometimes the accompanying patience required is also. I thank our shareholders for pursuing thisjourney with us and we look forward to further unlocking the huge potential value residing in our world-classAlaskan acreage. Stay well"I have been reading this post again and find myself drawn to it very carefully. There are a few thing in it that surprise and i may be making 2+2=5 but that is what we accountants are meant to do but before i became an accountant i used to a bit of writing and my father was a journalist so i do know words and in particular the choice of words. " I thank our shareholders for pursuing this journey with us" to me this reads as if it is a final annual report from 88E and they are expecting something really to happen to the company in near future. Otherwise why thank us for doing this journey unless the journey is about to end. This is the bit where 2+2=5 or maybe a hell of a lot more. Remember our new CFO is a specialist M&A merchant who moves from company to company in fairly quick order. Seems to have a record of setting up deals and moving on to the next project whatever that maybe. I always thought it strange that AG did not put in place a replacement for himself when he took over from DW. At the time it was rumoured we were ripe for takeover because DW had stepped down but still kept his shares, we had cleared all our debt (so debt free) and no replacement CFO was needed hence AG doubling up. Now maybe that was or was not the plan i do not know but at that time Biden came in and with his green hat on cut and restricted drilling in the Artic so suddenly we were not so attractive. Things have moved on a lot in the last year and i think they coming to a climax soon. How soon soon is i have absolutely no idea it might be next fortnight (which will probably tell us a lot) or it might be another several months down the line.

Interesting choice of timing why now for this. If you wanted to thank us they could have done the same after or during the drill last year but i do not remember any such correspondence,

A nice little RNS on Monday would go down well along the lines of "We have drilled down to x thousand feet and have taken cutting samples ad these have been sent off for analysis. Wire line logging has also been conducted." That would be nice just give this share a bit more of an impetus.
Also is it possible there is another party getting first hand up dates long before we are. I am not talking about any share holder (or is not to my knowledge) but rather a large company that maybe more than slightly interested in what we do.

God wish i were there. Used to really enjoy my skiing especially late in the winter when it could be lovely and warm but generally found Austria too low then as the snow would run out. No problem with snow in Alaska at the moment long may it last.

The head man has arrived to make sure that there are no slackers all working and sitting on the beach sun bathing.

I hope you are right and this sound good news,. I have a feeling the general market sentiment is all negative and pervades all and that is why we are red. Mind you if this is wrong it will be very red and not black.

Why i think this share will re rate upwards ( on good news from an RNS) is perfectly illustrated by this BB. there are those of who have bought and believe in this company to deliver on its promises and i am one of those and at the moment see nothing to make me doubt it. (Just hope i am right). then there are others on here who are basically trading their way through the dips and peaks and then there are those who look at life through a glass half empty they are here because they have always been here and probably not worth their while bailing out but realise that if the company gets it right there is a big upside. I also happen to think that there are a number of people outside watching this share with great interest and keeping their tinder dry. They are waiting the RNS almost as much as we are. They will be prepared to pay quite a bit more than the current price but be sure the company and we are right tracks before putting their money forward. Remember by the time we remove Petrovis and the BoD from the equation there are only something like 625m shares to go around and even a some of those are in fairly sticky hands. So a good RNS sees these people look to buy in they sweep up the low lieing fruit very quickly and then they will come after the other fruit. Everyone has a price and the share will rise up to meet that price. It will not take many people / institutions who think the fundamentals look good to come on this share because its value at the moment is so low against its potential that it has to re rate quickly. The other reason the share is so low is that few people trust what happens in Mongolia they probably do not even know where it is but they will do very shortly. China have been warned about backing Russia how far that threat goes i do not know but i would respectively suggest to China that rather than look to Russia for its oil it starts picking up the low fruit from next door in Mongolia.

The question is not so much is this share going to re-rate but rather by how much. Progressive have issued a valuation report which indicates at 60$ a barrel we should have a value of around 29p. I wish. Remember that Progressive are hardly likely to have gone into Mongolia to do their exercise and would almost have done it at the request of MTAD why else would they do it now at that time. Personally, and nothing against the Management Consultants on here, have a healthy sceptism of MC's. The definition of a management consultant is one that looks at your watch and tells you the time. So basically Progressive have given the company what it wanted to hear. Having said that it is not too difficult to see that this will re rate as it is ridiculously low at the moment and also that in time it might reach these optimistic levels.
If i am right Progressive are forecasting that with Oil at 60$ a barrel we should reach 29p per share give or take.. Currently oil is running closer to $120 a barrel but we all know that is hardly likely to happen for very long but hopefully long enough as MB put it to make a bit of hay while the sunshines and do hope that he is not going to spend his time negotiating the for the last half penny and miss the boat on this.for very little. That could easily happen. A future on going price for oil would for sake of ease of calculation be 90$ a barrel some and would appear more realistic than assuming 120$ plus or whatever it is. Assuming the SP is linear with the price of oil and no other variables change with it. is not too difficult to see that Progressive at 90$ a barrel could suggest a price in region of 43p (ie 29p plus 50%) in line with the increase in average price of oil. obviously if you want to choose 100$ a barrel it would be more and vice versa if you choose 75$.
In arriving at the 29p per share which i assume was based on the 900m shares currently on the market there would have been a number of scenarios and i am guessing that this is one of the more optimistic scenarios which is probably why the company chose it. Now the question assuming we accept it is going to reach 29p per share is how long it will take to get to it.
It would be lovely idea to think we get an RNS on Monday (probably hopeful thinking) about deals with DQE or not and this share will jump to 29p almost overnight. That is not going happen. IMO and based no real knowledge other than instinct the shares will re rate fairly quickly to between 4-6 times current value assume 3.5p that makes share value will i think come out very quickly to 14p at lower end to about 21p at the top end. It might spike at higher than this before settling back down. All this is assuming a decent RNS on dates times and deals etc if of course it says we have missed the boat boys and it has sailed wihtout us then this will re-rate almost equally as fast downwards. however the share is valued so low that the upside far out weighs the downside.

I have to say that with America contemplating a ban on all russian oil and the oil price moving north by the second the purchase of a share of lonestar beginning to look like a stroke of genius to me. Was not completely certain at the beginning but now i am alot more sure.

IMO this share price is being surpressed at the moment by world events but previously by MM;s so when this does lift off as other posters have suggested it will rocket. What generally happens when you suppress something too much is that the explosion is far greater than it is meant to be. So i would not be surprised if this share goes way above what we would expect for a very brief moment in time and then fall back to below what it should be and then settle at around a comfortable price. The secret is i reckon to know your limit and get out on the rising market and if you are very lucky you might be able to get chunk back on the bounce.

Unless we get a RNS tomorrow or Tuesday morning the presentation will be nothing new except maybe a bit more clarification. I Reason is that all price sensitive information has to come via a few days RNS.

I have seen and been through one of these before just before a big event and all it was a re-hash of what we already knew nothing new and it felt like a pitch to big institutional buyers rather than one aimed at us. If you are expecting anything new then i would doubt you will get it. As i understand it, and i stand to be corrected, any price sensitive information has to be announced through a RNS and not through a shareholders presentation. So if there is anything happened with DQE it will be in an RNS on Tuesday morning for it to be shareholder presentation on Tuesday evening. Alternatively a RNS on Wednesday morning means nothing new on Tuesday evening. So i think the presentation will be to just try and clarify previous RNS which was to put it politely a bit of a mess. A kind of not seeing the wood for the trees. Personally i think MB should get himself someone else to write his RNS's this is not the first that has caused problems. I think DQE will be mentioned as in last RNS but not much more than that unless deal is announced in an RNS earlier. So Talks are on going will be the phrase used or something similar. I would suggest talks have broken down would be price sensitive so would have to be via RNS first. The men who work the markets on here can clarify this better than i am stating it probably.

Misleading appologies did not read closely enough this is upstream and not DQE but still interesting.