I don't think so; the share is only 0.6% of the Ecuador prospect. This shows the confidence Ossiko have in the prospect, and they want a bite of the spoil.
I see this as a great investment, and read carefully; there's a buy-back clause. Let's hope this takes us into the 25p range again in the next week or so!
@Speel. Do not fall for the tricks of the shorters. They deliberate sell small quantities/ low values to drive the sp down and then turn around to buy them again cheap later, and sell for a profit before the market closes.
There are more buyers than sellers in value traded, and the spread is narrowing, ALL GOOD NEWS. What's the secret? I guess everyone is primed for the RNS from Pantheon soon.
At least the RNS depends on PANTHEON and not 88E this time round, so my confidence level is pretty much high!
We're believers this time around!
Infinity888 - I agree entirely with your view. A good hit will cause the SP to rocket. Once we hit the black gold, 88E will no longer be a penny stock; they may decide on a consolidation strategy to make its share look more respectable; that's my opinion, though.
As things stand with the risk on PANR, we could see 150p before COB Friday. And should they hit black gold, I am certain we could see 6.00p+ and then only God knows where we end. It will be up up up!
Jump in now before you're left behind for RNS is on the way soon!
The sale of the RE&I business will be completed in Q3 or early Q4 as it has to pass the regulatory approvals. But, I believe the proceeds will be more than $2B; this will wipe the debt bare and leave some cash for reinvestment into similar environmental businesses. Wood will not check out completely from the sector.
Standby for the RNS
I will not say much; last week, I mentioned 20th April would be the day when the price rockets. I am still confident of that.
I can't say much more than to get in today before tomorrow. The SP will hit 450p before the end of the year.
Let's have a toast tomorrow!!!
Good questions @ Patiencepoor
However, my guess (only a guess) is that the board doesn't want to over-promise until there is a firm acceptable offer on the table.
That said, the price could hit £0.6 to £0.10 if there's a formal RNS about the proposed asset buy. Let's hope for the best as I have been hanging for way too long to get to my breakeven price.
https://uk.finance.yahoo.com/news/88-energy-share-price-keep-120642319.html
Just be careful
Operator knows there's BLACK GOLD buried under the rocks, why would you want $5.8m when you can take a share of the big find. It shows their confidence this time round. They're forgoing $5.8m immediate cash and risking it for opportunity gain in a couple of weeks time.
It's a massive risk but they are confident. If they can risk $5.8m, then my £5k is peanuts but I can treble it!!! Come Onnnnnnn
Question is why is the drilling contractor not asked to be paid in CASH and choose to be paid in shares rather.
I guess they know and can sense what’s buried down under, BLACK GOLD!!!. What’re you waiting for?
88 Energy
ASX:88E, AIM:88E
88E’s drilling operator has just chosen to get paid in 88E shares - instead of cash.
In what is a major endorsement of 88E’s project, the company’s major drilling / operations contractor preferred to be paid its $6.48M fee in 88E shares rather than cash.
88E struck a deal to pay the operator $6.48M in 88E shares at $0.018/share.
That is a 225% premium to the placement 88E undertook a few weeks ago.
This relieves a large cash burden for 88E, and allow’s 88E to cover the recent cost overruns announced on 11th March.
We like it when service providers get paid in shares, as it means they are more aligned with company shareholders like us.
The local Alaskan oil contractor is obviously impressed with how 88E goes about things, and is prepared to back them. Obviously we don’t know how many shares might be sold by the contractor this week, however we would hope they will be keeping a few in the back pocket to get some leverage to what could be a massive oil discovery...