Member Info for jockosjungle

They probably cannot if they wanted to. They have an interesting history paying off the debts they owe, if you gave them a loan would you be happy them buying their own shares with money they owe you??

No idea what deal they have, but it clearly involves a lot of hedging so can see paying down the debt as a priority.

Not sure what you would expect from this news? It was already reported a few weeks ago, and all it's really done is tell us they're issuing fewer shares. So our shares are being diluted slightly less than we thought/feared. About 1.5% or something, so the news and the share price is about right.

The problem with the vaguely positive RNS news that is drip feeding is that people who spend all their time posting memes of rockets on stocktwits or whatever, are waiting for mega news. Which we are not really expecting any time soon.

Really it's just minor confirmation what we already hope we know, but looks like we will know a little more over the coming weeks. As often happened before, they drip feed small bits of news and the same people who are expecting a £5 takeover are disappointed. The best chance of a decent rise will be the anticipation of whatever news we might get in August.

Think the problem is that it isn't really 75 dollars is it? Its that high due to OPEC cutting the supply down to keep it above $60. Its probably a meeting away from having a big fall.

When oil gets up this high everyone starts exploring, or starting production in the Falkland Islands, and taking up less profitable stuff.

Just think the whole thing is a little flakey at the moment and everyone is being a bit cautious. There just isn't the worldwide demand for an oil boom right now.

Far too many factors to consider 51.9p, fag packet or otherwise. If there really is 1.6bn barrels of oil that can be got, you're forgetting the chunk they've already given away and the considerable further chunks they will need to give away to get us anywhere close to the oil. I'd agree 50p ish may be the end game based on the current shares in issue and with no further slices carved out.

Not sure why an oily would bother buying it out at that price though, they'd be far better off offering the $6 a barrel and spreading out the cost over a couple of decades.

A negative will plunge the price, a positive will probably increase it a bit, but it seems to be doing OK increasing on its own so how you'd know. But I imagine all the oil explorers in the area will be prone. I imagine it will go the oil company way though.

As to why an oil company won't be buying the company for £20m or whatever, that is plainly wrong. To get this exploration a stage when we know for sure, is going to cost a lot and take some time. There are lots of oil companies out there with a decent claim, if they started buying them all up and finishing off the explore themselves, well, what would be the point of oil explorers?

The big oil companies will eventually be interested, but that deal could well not be a full buy out, could well simply be a deal where 88 get a percentage or small royalty per barrel. That would probably work better for the oil company tbh, they don't need to splash the cash up front, it's reliant on them getting the oil to market. 88 would also be able to keep exploring.

Submarine base?? Haha we have been waiting a fortnight for some milk and bog roll because its too windy and the boat is late.

Usual sabre rattling from Argentina, it never goes away. It just puts off a lot of companies with any interest in Argentina from getting involved, even in a minor way.

Archie - You are wrong and you need to read all the RNS going back 11 weeks. They messed up the big tests, we are awaiting some results admittedly, they will not make or break anything and will probably send the share price down (in that they're not the massive results people are waiting for). I imagine, they'll be borderline incomprehensible to most people and the company will describe them as "encouraging."

The company said the results will be within 10 weeks, they've missed that deadline by a few days and are deemed so insignificant, they've not felt the need to issue an RNS explaining the delay.

This share has been chugging along at less than 1.5 for some time now, it jumped up to 2.5 and is now sitting comfortably above where it has been for the last few months. I would not call that a "recent dip" as that implies that the general level of the stock is 2.5p and we're having a minor dip.

It's not a "recent dip" really, the stock was pumped up nearly twice its value. All based on speculation that some super results were about to be announced and that a 50p takeover was on the cards. Neither was very likely, we are expecting some minor results, but I doubt they'll be setting the price massively high, other recent results and updates have not done so. It will likely be the last real news until the next season gets going.

I guess the takeover could have theoretically happened, but I'd say comically unlikely.

I guess people are taking profits, even at this rate, those that purchased in any dip recently, are probably 40% profit.

It's all very well posting stuff from wild Americans posting gusher memes, but they're pretty fickle, they'll have lost interest in this in less than a week.

thanks for all the insight. I wasn't aware that oil prices go up and down until I read your posts.

Bought a pretty timid amount at £8.26, currently looking at an annual return of 2387% if the current rises keep up!!!

Should maybe have bought a few more, but tbh I was more thinking I'd end up having to average down. But it's a nice share I think and something people actually use.

No I would imagine they don't. I just don't see it as either a massive positive, or indeed, negative. All they did was sell an asset and pay off debt, for all intents and purposes it is at best balance sheet neutral, but I imagine whoever bought the tax credits feel they got a good deal for them.

Every time they issue shares instead of paying cash, that's a little of your slice being taken away (and the reason they've got 13 billion shares worth a 2.47p).

If this company is going to be as good as big as some of you hope, you may live to regret the excitement of everyone getting paid in shares and the company handing them out because it's cheaper than giving them toilet paper.

Sam - Read all the RNS's mate.

No debt is good granted, but they haven't really got any meaningful cash in the bank. They've probably got enough to keep themselves paid for a year. If they plan to continue their exploration next season, they need a new partner in this. This is something they've made clear themselves.

Read back a few RNS, they weren't paid in shares. They took some shares and agreed quite a hefty slice of the overall claim, especially if its sold on.

They now need someone else to come up with the cash to continue work. Who will want a decent slice themselves.

Why would anyone pay 50p a share when they can be got on the open market for just over 2p??

Who ever heard of anyone over paying for a takeover like that? Come on, you must have some Good examples

Do you care to share your research? I'd appreciate if you could show us all a comparable company that is worth 100 times more than 88e, but in the same situation. There are loads of exploration companies out there, I'm not thinking of any that are worth £20,000,000,000 (that'd make it bigger than Tesco or BT).

I've really got not much more to say, so I'll no doubt be sacked on Monday by the Freemasons from my role as being a paid deramper of 88e. But I will say this...

There are a number of different views here, naturally some will be right and some will be wrong. When you're claiming to be a long term holder, you don't ever need to be wrong, you can be harping on about £5 a share, or some massive takeover 20 years from now. I'd also speculate that some people on here (not everyone naturally) claiming to be LTH or "in it for the long run" are simply people who bought in at 4p the last time these shares soared, and haven't yet been able to claw their money back.

I'm not going to lie, I bought shares at 4p (in addition to shares I bought for considerably less), in the hope that we were one RNS from a significant rise. That RNS came, they'd ballsed up, and they had given up for the season, the shares sunk. They've now risen again, I took the opportunity to buy more when they were trading near a penny. I sold some at 2p, I sold some more at 2.5p.

In doing so, I made 100% profit, which is a decent return IMO for someone who did nothing to earn that money. Still got plenty of shares left and I will take the opportunity (if it comes, it may not) to buy more shares if the price comes down.

It may not fall, but I think it will. I'm obviously not a paid deramper (that bit was a joke, although I do think I sadly need to explain this) This recent price rise, appears to be based on very little but a mini-hype, which is always going to happen with such cheap shares and the expectation for good news in the future.

No massively good news is expected any time soon, we are expecting some results, which may send the price higher but it won't be telling us much we don't already know, this is a good prospect with a chance of success.

I'd also add, you could easily wake up one morning, read an RNS they gave to the Australian market, and find your shares being fundamentally worthless, that this claim hasn't panned out as hoped and they'll be looking for other opportunities to explore. Always something to consider, and never invest more than you are happy to lose, on the basis that this is a risky investment and they don't always come good.

Good luck all, I do like owning this share. There is a lively board with interesting insight on all sides, I have other shares where even a good price rise generates no discussion.

Well I better earn my wages by posting something else then!

Whilst we would all like this share to hit £5, lets be a little realistic. All we've got here is some oil potentially under the ground, no idea how difficult or cost effective it will be to get it out. The next set of results could be less than positive, or most likely be borderline incomprehensible and do nothing more than tell them to keep exploring.

The value of an oil exploration company is not potential barrels under the ground x oil price.

As 88e have already done, they get partners, who buy in and sell out, they've already carved off a nice piece to their previous partner.

Absolutely this is a good share to own, but we have been here before three months ago. The price will go up and down, we are now going to spend the next three months as we have previously, people buying in too late, who will be sitting on losses complaining that "Duster Dave" (or whatever nickname we give the new person) has failed to sell the company for 15 times more than it is worth.

£5? Ridiculous. 30p possibly, in a couple of years, if the find is proven and gettable and the company hasn't diluted the shares or handed over a large part of the claim to other partners.

It'll be a good ride, but not a smooth one.

£5?? Where are people getting such ridiculous valuations from? Its currently worth 2p, which is the current actual valuation of nothing, plus 2p for the hope you've got some oil under the ground, that can be got out at a decent profit.

There are 13 billion shares.

They've currently got no real money and need a partner with some money to allow them to continue exploration.

Shares have jumped a penny on no news, the evidence points to people just piling in expecting to get rich quick.

The RNS never seem to do much to help the share price, it often falls after a release. I guess because people are expecting more from them. The results we really need are going to come next year. But we will see.

We have no over excited Americans on Monday and Australia have got the weekend to mull it over.

Certainly see a few ups and downs for this over the next six months.

Nobody wanted to hear it, but here we are. There is absolutely massive potential in this share long term, but in between there are going to be peaks and troughs, where it is going to rise on rumours and nothing. Say what you will, people were buying in here, on the basis that a 30p takeover was on the cards.

People will complain, but we have a system here where three markets are buying, they push each other up and one loses heart and it drops again (it happened last time with Australia).

It's an excellent share with great potential. But there will be plenty of volatility, there is no real reason for the fall, any more than there was for the rise. My advice would be to wait, maybe average down if you can.

If you'd bought a couple of weeks ago, you'd have been sitting on a 100% profit here.

But remember we're not waiting for them to announce positive news, we're waiting an announcement of just news, could be good or bad.