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His general point is correct tho, we've seen it before! I plan to take some profit off the table at 2p if we can get there. I think we're pretty much nailed on for initial oil shows / LWD results and will see a spike when that is announced. There will be more risk whilst doing the downhole testing and then the frack.
https://www.oilandgasmiddleeast.com/drilling-production/37800-biden-policy-puts-72-of-alaskas-remaining-oil-at-risk-but-output-wont-be-affected-until-after-2030
these new rules about putting brakes on new leases being put up for sale. This could affect decision making of the big players
I was just reading that. He's changed his tune he must be the aussie version of phron
https://twitter.com/Taco_Trading/status/1374424737456156681/photo/1
I'd be very cautious over there Hu11. Look up who they bought their leases off. They bought them off other companies that were owned by the directors. Cash straight from PI to directors pockets . ***Not88e related***
I cant see that happening guzz. They could have bought shares on the open market before last week at a third of the price. And even if they did flip them we've managed to turf 1.6b shares in about a month with this crazy volume. 360m would barely make a dent.
I've not cherry picked anything. Umiat value is moot compared to Merlin IF Merlin establishes a good flow rate. My point is who the hell knows. Especially not you, who is only here to not so subtly bash 88e and ramp PANR. This interest from across the pond must be galling for you, in that it's for 88e and not PANR. Bitter neighbour
For GM
https://www.youtube.com/watch?v=UGlZ9Udw7bE
https://vimeo.com/301432243
https://twitter.com/search?q=eeenf&src=typed_query&f=live
https://www.reddit.com/r/EEENF/
I don't get the comparisons to PANR and in particular market cap. Neither co have any income, just potential oil in their acres and 88e has far far more potential oil in our acres than PANR do in theirs.
Also if we get a good flow rate from this well proving 645mbo from merlin @ 50% share at $3.10 per barrel in ground value (which I think is conservative $ price per barrel given what has been happening in Alaska recently). That value, if realised would be 7p per share, but at what point would that get realised? Only when we sell? It could hit that on anticipation, if the anticipation is for a higher in the ground value. WTF knows?
Also does success at Merlin add credibility and value to what we have done so far in our other plays? I would argue it does. I feel we are massively undervalued as we are and are well overdue a rerate
I found this pic/table interesting...it shows Conoco's net income per barrel for its different regions worldwide. Net income per barrel in Alaska was $25+, nearly double the nearest region of asia pacific/middle east at $13 net income per barrel. ( I know that's only possible due to conoco's economies of scale ) but it shows we're in a good area in Alaska. Imagine trying to buy that sort of acreage next door to conoco in the lower 48. Couldn't be done.
https://twitter.com/HarisRad88/status/1373153806662389761/photo/1
Same as dazzle earlier, I've been keeping an eye on twitter. Theres lots of sharing the odd screen shot and calling it due diligence. There is certainly lots of ramping going off but also lots that seem to be liking what they see. I mean let's face it, our potential total oil numbers are mind boggling and IMO we are well over due this attention and hopefully a rerate. This could spike very quickly and then drop just as quick on bad or even good news OR it could genuinely rerate with a large new swathe of long term holders. Another share I was in listed on the OTC and went from about 6p to over £1 at one point, sadly I bailed when I got my money back :( and that's still at 60p+ now and imo they aren't half the company they used to be. Sentiment can be a phenomenal driver
According to this article, trading by P.I.s on the OTC has gone up by 2000% since this time last year. I think 88e has only been on there since November so this increased 'investing' from across the pond could be perfect timing for a spike in the build up to results coming in. https://www.seattletimes.com/business/markets/penny-stocks-are-booming-which-is-good-news-for-swindlers/