I invested here more than five years ago because of Basinski's reputation and the fact that he had been heavily involved in the success of Eagle Ford. He reckoned there are 3.6bn barrels of oil to be had from the Icewind HRZ. When we first tried to crack it, after his sad passing, it didn't work. DW in the meantime secured leases with potential conventional oil, but so far that hasn't been fruitful. But the shale has gone nowhere and that is is still a possibility. It' s not just Basinski who said the HRZ contained oil, an independent company also said so, albeit at a lower figure. These are facts..the issue is how to get it out. So how is mentioning the shale a ramp?
Many thanks, Never satisfied. I genuinely believe this will prove up and our patience and faith will be rewarded. And you're absolutely right..the health and well-being of our families are the most important thing, much more than material wealth (of course that would be great). Dunno if any of you know Edinburgh, but my family took me out for my 65th on Saturday for lunch to The Witchery, just down the Royal Mile from the castle. Put it this way...88e will need to come in soon to pay for it! Then a trawl through some of Edinburgh's amazing 17th century pubs...it doesn't get better and when we do hit the jackpot, you and our pals here will be my guests. Malts all round..even for friend Miloh!
Hysteria has now got a grip of the world. Of course it's unpleasant to see our sp plummet and it's shocking that the oil price disintegrates because if a spat between the Saudis and the Russians. Also coronavirus exacerbates an already fraught situation. But these things are cyclical. The virus is not as bad (although it could mutate into something nastier) as some make out. It sadly affects older folk with existing issues(I'm one - I'm 65 today and have Crohn's disease and asthma!) and I realise I could be one. But I'll take my chances in the reality that this is not the bubonic plague, the Russians and the Saudis will eventually work it out, the oil price will rebound gradually and we are involved in a massive drill in a well proven to contain oil. So sorry to see one of our best guys W Aussie leave us (and we've still got RichT/Smals/Miloh or whatever he calls himself this week).. but guys and gals, there will come another day. :)
But Miloh/RichT etc....you promised 0.5 weeks ago! So...you can't claim credit for recent events. And you still haven't explained the reasons for the vitriol, or your many IDs. Want to tell us? Or lose any credibility you might have?
Friend Miloh/RichT/Smals/ Lady whatever you call yourself this week.. you predicted we'd be at 0.5p LONG before the coronavirus struck. Now panic might make it drop to that level if markets continue to atrophy (look it up, mate) but there was no chance of that happening before this 'crisis' arose. So you can't claim credit for predicting the sp would go down. But true to form, we know you will and are doing so. But I wonder why you bother to load the bb with negative/personally insulting/ crude comments? In the interests of harmony, could you please explain? And if you reply to in the same manner as previously, you will merely confirm opinions of your contributions. Lighten up, mate.:)
No need to apologise, BB, but many thanks anyway. I am sure you'll understand why many long termers here will no doubt be bitterly disappointed to see it will be at least another two years before DW's famous cream is curved. I know some here will start bleating 'oil exploration doesn't happen overnight' like so many sheep from George Orwell's 1984. But many here invested (I know I did) on Paul Basinski's reputation as a genuis and shale expert and his forecast that Icewine HRZ was likely to contain several billion barrels of oil. That, coupled, with DW's pledge that it was never our intention to produce or spend millions of dollars on wells, and the promise that 'we won't be here' for that, encouraged me to think we would be in and out in four to five years - which is a long enough time to tie up any cash. I know the HRZ didn't live up to expectations but I think if Paul had still been with us, that might not have been the case and 88e would be a completely different animal to what it is now. Having said that, I think DW has been intuitive in securing conventional potential which may yet take us to success. The prospect of waiting another two or three years is not good for some people in situations like my own - very little income and a strong hope that 88e would have been successful by this time. However, I am hopeful that good news along the way will see a decent rise in the sp and the ability to sell some at a reasonable profit along the way. After all, some of us might not have three years left! Everyone, after me...'Always look on the bright side of life.....' : )
Why the need to 'quell' the suggestions about selling up after Charlie 1? It's a perfectly legitimate tview to have that might happen, or might have happened. ...aren't we all entitled to have our views, particularly after Wall himself said several times it was the intention of the company to prove up and sell up as soon as possible, to the benefit of shareholders? If this does take another two or three years, then so be it. But for those of us who have have been five years - many of us longer than that - then please don't tell us our thoughts have no right to be heard. I used to this this was a democratic board. Apparently not. Or should this post be 'quelled' too?
Could be, TD. But seriously...I didn't think Wall was in the habit of making sp predictions, given all the uncertainties. So if we manage to find the 480mbs, sell that in the ground, and then unlock the secrets of the HRZ and sell that as contingent, then the best we could hope for is either 3.6 or 10.8p?
Has DW said 3.6p is the expectation after a successful Charlie-1? Or he expects 10.8p in two or three years time? Or that 88e would still be here in 2-3 years' time? I'm not saying he didn't. But if he did, my memory is failing (which at my age is entirely possible) or I missed that RNS.
For goodness sake, has punctuation been banned on this board? I had to read that about five times before I could make any sense of it. And before people start bleating about the grammar police, the only people who complain about that are people who don't understand how to write properly. English is not the first language for several on here but the rest of us have been speaking and writing since we were five! Lots of informed posts on here go unrecognised because of endless sentences run together without a break, 'too' is often confused with 'to' and why do people write 'should of' instead of ' should have'? Drives me mental. Come on, guys, we can do better! Rant over...and it's good to see a rise in the sp today. For once, I'm in small profit.:)
TD...thanks for your reply. But with respect, 88e never set out to be a producer. The whole tenor of the company was to prove up sell up as soon as possible, for the benefit of shareholders. We not have the resources to produce and it was never intended that we should. So any talk of us being here in four or five years time is disingenuous. And majors are paying an average of $3.1 for oil in the ground...so why would that happen for other explorers and not happen for 88e? (should we have any commercial oil at all).However, your opinion is just as valid as mine or anyone else's and I thank you for the debate...always stimulating!