Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
88e has production from the Longhorn wells averaged ~400 BOE per day gross (~71% oil) during the first half of 2023, peaking at 620 BOE per day gross.
Now we are expecting at least 2,000 BOE per day with this vertical well as they have 6 different pay zones.
Then 88e may drill horizontal well to increase production up to 12,000 to 24,000 BOE per day.
"Redbeardoil2
Posted in: 88E
Posts: 237
Price: 0.2425
No Opinion
RE: Redbeardoil18 Jan 2024 09:44
My last post for awhile
1. I am not promoting PANR
2. I have a much greater investment in 88e than PANR
3. My posts were a warning because the writing is on the wall
4. I wish you all well in your investments
5. I hope 88e do well"
What a hypocrite # Redbeardoil2
Posted in: 88E
Posts: 237
Price: 0.2425
No Opinion
RE: Flow test.18 Jan 2024 05:33
Boom boom - normally yes but SOI can overpower a rise like a tsunami, further, If several billion shares trade on the rise there will be no rise. Given that consolidation has been raised exit positions will be fluid.
Redbeardoil2
Posted in: 88E
Posts: 237
Price: 0.24
No Opinion
RE: Flow test.17 Jan 2024 13:03
Boom.boom - The share price is unlikely to move much, with talk of consolidation, ppl will be looking to exit. I have never seen it before, but I suspect 4 -5 billion shares could trade during run up.
Read this before you making a stupid headline and put a "Sell" Opinion
https://nextinvestors.com/articles/88e-found-oil-does-it-flow-we-will-soon-find-out/
"Anything above the 100 barrel per day mark would be a green light to come back, drill a horizontal well and to commercialise the project with likely 6-12x higher flow rates."
Horizontal wells can deliver higher flow rates because compared to a vertical well, a horizontal well can travel horizontally through the oil filled target reservoir, and pull oil out from multiple points of extraction.
With more points to pull oil from the reservoir, this means a much higher total flow rate to surface.
For example, a flow rate of 100 barrels of oil per day could mean 88E can increase that to 600-1,200 barrels of oil per day with a horizontal well."