They placed 800m+ shares only 12 weeks ago. With low volumes I don't think all these will have churned into the market as yet hence why we are anchored to the 1.5p level. I don't think they will do another raise pre spud.
MERLIN-2 APPRAISAL WELL – RIG CONTRACT EXECUTED Highlights • Rig contract executed for drilling of the Merlin-2 appraisal well at Project Peregrine • Permitting and planning remain on track for scheduled spud in February 2022 • Merlin-2 is targeting 652 million barrels of oil1,2 with geological chance of success of 56% 88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce that it has executed a rig contract with Doyon Drilling Inc (Doyon) for the use of the Arctic Fox rig to drill the Merlin-2 appraisal well at its Project Peregrine in the NPR-A region of the North Slope of Alaska. The Merlin-2 appraisal well is planned for drilling in February 2022 to a permitted Total Depth of 8,000 feet. Merlin-2 is targeting 652 million barrels of oil1,2 in the highly prospective N18, N19 and N20 targets that were encountered in the successful Merlin-1 well (drilled in March 2021 to a depth of 5,267 feet), which demonstrated the presence of oil in these multiple stacked sequences in the Brookian Nanushuk Formation. 88 Energy has identified several appraisal drilling locations to the east of the Merlin-1 well, closer to the shelf break where enhanced reservoir thickness and quality are expected. The Merlin-2 well is independently assessed to have a geological chance of success of 56%. The Company plans to announce the final drilling location and further details of the Merlin-2 appraisal well in the coming months
RE: Why is it nobody challenges Scot factually?19 Oct 2021 13:18
They're doing a very good job of it so far, bailing at 70p + before riding off into the sunset. Who's going to be left holding the baby? All the saps that Scott and 'his group' as he calls them, manage to suck in.
@20.51 flowerpot, I've just been looking at xpdi and core today. If est combined business is worth 4.3b and xpdi shareholders share of the new company is only 9.6% then xpdi market cap should be about $412m. It's not, with how it's trading at the minute makes the market cap about $490m. If they're bigger than riot or mara their market cap looks about right for now. Much better value in arb IMO ....once it gets its arse into gear