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Hey RadGuy, 00:23
With you on this one & who's left to pay, apart from the Analysis Lab's?
They know the results & I would guess they want "in" before the stratospheric rise when results announced.
Or am I just dreaming & being a bit of a drama queen?
Bring it on.
GoodLuck 2ALL
keefy
Ford 19:25
Yep my friend, that is quite correct.
We came to Alaska with next to nothing as a newbie explorer, but in those years with 1 low budget drill per season, immaculate safety record, always on time & on budget, we have very little to show in the way of Flowing Oil.
However, what we do have is proven oil in the ground, a massive acreage over numerous projects with long term leases.
The major players have deep pockets for numerous drills, which history shows, have been required to obtain flowing wells. We haven't got the deep pockets but everyone can see where 88e has left its marker & with the squeeze now about to start on new leases, we are in a real & exciting opportunistic position.
IMHO of of course.
Sitting Tight Waiting for TONIGHT.
The Very Best of Luck to Us All
keefy
Hi All,
Sunday comes around so quickly & here we all are again, waiting for Sunday Evening News before the witching hour.
Recent links to Shell & 88e!
There doesn't appear to be any firm info that links them to us, but maybe, just maybe; could there be something in the links you find below.
Really similar articles but phraseology in one of them makes one think. Could they be thinking of us?
They might not be coming back, but do they want to JV with an Explorer? Does it Fit?
https://royaldutchshellplc.com/2020/09/27/shell-seeks-alaska-lease-extension-but-no-plans-to-return/
https://royaldutchshellplc.com/2020/09/17/shell-offshore-files-plans-to-return-to-alaskas-north-slope/
As usual, still holding firm & waiting patiently for PAYDAY.
Stay Well & Good Luck 2UALL
keefy
GarryM 09:48
Garry, surely, you are not going to be wanting for a few bob if our pet 88e gushes in one way or another. Hope you are still innit2winnit & I really do enjoy reading your professional articles. Keep up the good work mate but hopefully, we may all be far away from this board in the near future.
Note the word "Hopefully"
GoodLuck All & Enjoy the Weekend
keefy
Hi StA, 11:56
" I can see a future where, in an IoT-enabled world the autonomous cars can "see" (or at least know the whereabouts of) one another, as surely as airplanes know where one another (and landing strips) are even in reduced visibility".
And in response, not 88e related but may be of interest to some of our LTH's who have derisked................. & have some spare cash burning a hole in their pockets, have a look at IOTA (MIOTA).
Around 30p when I bought a few back in September last year & now rising daily through £1.00 > £1.80 last night.
IOTA is right there in the core of IOT (Internet of Things) & with a massive 2 days to come on the 21st & 28th April, now might just be the time to Get In.
Of course, carry out your own DD & DYOR, but this could be a Mini Bitcoin in the making.
Check out the video where iota talks with dominik schiener cofounder, on youtube.
https://m.youtube.com/watch?v=xq1bkGAWXoU
Still holding & waiting for 88e RNS Sunday night but a little something else to take your mind of our pet 88e.
Good Luck All as usual
keefy
sorry folks, this fella slipped through the net. Read after 1st section ending oil accumulation is within permafrost.
http://archives.datapages.com/data/rmag/GeoStudCordV2_82/molenaar.htm
keefy
Its Monday again & the lovely weekend is over, back to squabbling.
Not for me.
Try part 4 in my series of Confidence Building of our great pet 88e.
The Umiat oil field, which is covered by two leases consisting of 17,633 acres, was discovered in the mid-1940s with 11 appraisal wells drilled by 1953.
Our boy DW, hoovered these up a few months back, in double quick time.
Why? Sit back with a mug of coffee or a glass of something & perhaps find out.
Based on surface expression and oil seeps, the shallow (275-1250 ft/83-381 m) 7500-acre trap was discovered by the U.S. Navy during the late 1940s and delineated with 12 vertical wells. Well log data and hundreds of feet of core were obtained; numerous flow tests were performed (the longest - 400 BOPD for 93 days); different drilling and completion techniques were attempted; and lab tests at reservoir conditions were conducted to arrive at a recovery factor range of 28 to 51%. Despite the desirable nature of Umiat’s light, sweet crude (37°API / 0.84 S.G.) and the good reservoir characteristics of the Cretaceous sands, the field had challenging development issues due to the shallow depth of the reservoir, low reservoir pressures, and the fact that half of the oil accumulation is within permafrost.
http://archives.datapages.com/data/rmag/GeoStudCordV2_82/molenaar.htm
What if 3D seismic, along with the original well data has since led to a clearer picture of the structural traps.
https://www.alaskajournal.com/business-and-finance/2015-01-07/linc-energy-wont-need-access-road-umiat-field-project
https://pubs.usgs.gov/fs/2017/3088/fs20173088.pdf
Anyone read this from the American Association of Petroleum Geologists?
http://www.searchanddiscovery.com/abstracts/html/2009/arctic/abstracts/huckabay.htm
Did DW catch everyone else napping when the Umiat Leases came up for sale?
IMHO, Our guy is so shrewd & on the ball & really has done his homework.
I am really of the opinion that Umiat holds the Key to our current endeavours, as I posted a few days back.
I really do think, there is just SOMETHING about it.
Hoping the articles above have provided food for positive thoughts, whilst we sit & wait for the Green Lights.
Apologies if any of the above stuff has been put out recently.
Still Holding.
The Very Best of Luck to All Holders & a Hearty Welcome to All Newbies.
keefy
Is there enough info & data collected on First run on wireline.
Thanks to GarryM, in particular for such professional appraisals & to Ddraig for intuitive posting.
Just what this Board needs & how we will drive this pet 88e of ours to where it should really be.
This is going to be some Super Event, of course, IMHO.
Good Luck All
keefy
One point they make is that they did not get a chance to evaluate the two most prospective intervals they saw on their logs - so they have a strong impetus to … return for farther evaluation in the future, he said.
They found something they had not anticipated - a new prospective horizon in the Nanushuk formation that was not one of their pre-drill targets. It’s always nice to find something you hadn’t expected, Frank pointed out.
Was, what 88 Energy did find, promising? There is still uncertainty, but they have reduced it by getting some positive signs, he said.
I think it is encouraging - what they did get, Frank said.
His comments were endorsed by his boss, Division of Oil and Gas Director Tom Stokes: 88 Energy has actively explored the North Slope for many years. It is encouraging to see the results they achieved during this winter’s drilling activities, he told PN April 7.
Wall “revealed a power outage due to equipment failure and other issues,” preventing the company from sampling its two highest-prospective zones. As well, further drilling may be required to confirm a discovery,” Lakin noted.
Lakin is described on Investor Place as a veteran financial writer and editor, following fintech, agtech and property tech start-ups.
He said, he did not hold any 88 Energy shares at the time he filed the article.
Much to applaud
The company also was pleased about finding a “new prospective horizon” in the Nanushuk formation that may all be within its Peregrine acreage and was not one of the pre-drill targets in Merlin 1.
One solid PN source said he understood the new interval, might be 1,000 FEET THICK.
No corroboration was provided by 88 Energy on April 6.
But Wall did say: “Particularly encouraging is the apparent presence of oil in a zone that has not previously been targeted in NPR-A.
Whilst the potential volumetric size of this zone is not yet known - as it was not a mapped target in Merlin-1 - the formation could be extensive based on initial interpretation.”
The other most prospective zone with good shows and petrophysical characteristics is shared with the Harrier Prospect and will likely high grade that for drilling in 2022, 88 Energy reported.
88e RNS 29th March
Details
Nanushuk Formation, which contains the primary targets for the Merlin-1 well, was encountered ~600’ low to prognosis and is interpreted to be ~500’ thicker than that encountered in the wells drilled into the Willow Oil Field to the north of the Project Peregrine acreage.
Encouragingly, the gamma log indicates the presence of more sand packages than those in the Analogue Wells and that the sand packages in Merlin-1 are generally cleaner in nature. Reservoir quality will only be known once analysis of the wireline logging is complete.
Food for thought : 1000 Feet Thick?
Return to Merlin?- The well MAY BE re-entered in the future, IF WARRANTED, in order to drill a side track and conduct a flow test.
Is there enough info on
Merlin: The Details & Main Points from Petroleum News Article as linked earlier
Dr. Paul Craig, a veteran oil and gas investor in Alaska, told Petroleum News (PN) April 6, what other experienced North Slope operatives were only willing to say, off the record:
Although 88 Energy stock got beaten to a pulp on the news about the Merlin 1 well, I like the results.
But the market doesn’t read between the lines. Short-term investors see ‘plug and abandon’ and assume it’s a dry hole with no commercial potential, Craig said.
Kevin Frank, a geologist and section chief of the state, Division of Oil and Gas (DOG) resource evaluation team, agreed.
In an April 7 interview with PN, Frank described the results that Erik Opstad and his team at the well site did get as Encouraging
Frank’s reaction was similar to what ConocoPhillips said after it drilled its recent Harpoon well. It was Plugged and Abandoned (P&A’d) and declared a dry hole, but the company (CP) has no intention of abandoning the promising prospect and plans to go back in, to drill Harpoon in the future.
I think they (88 Energy) have done a good job, Frank said, following a lengthy meeting with members of the Division of Oil and Gas (DOG) resource evaluation team.
They’ve collected well information from targets in the Nanushuk, which is the hottest oil play on the North Slope because of Pikka, Willow and other recent substantial discoveries.
They have reported shows, as described in their April 6 operations update, including evidence of oil in the cuttings that were brought to the surface while drilling.
One of the characteristics of the oil in the cuttings is that oil fluoresces under UV light.
They Saw This, Frank said.
88 Energy conducted logging while drilling, or LWD and were encouraged by what they saw in multiple intervals. Additional data was collected via wireline run, collecting a triple combo logging suite, with the addition of a nuclear magnetic resonance, NMR, tool, he said.
The triple combo measures “gamma-ray, resistivity and density of the formation while the NMR provides an Estimate of the MOBILITY of the FLUID present. In aggregate this data can be interpreted to gain insight into the clay/sand content, fluid type, porosity of the rock and MOBILITY of the Fluid in the rock, Frank said.
That was 88 Energy’s First run on wireline.
The Second run, he said, “sounds like a downhole sampler to take fluid samples.
After setting the tool, fluid is run through an optical fingerprint sensor to evaluate the fluid prior to opening the sample chamber. This allows fluids that were introduced by the drilling process to clean up prior to taking a sample that is more representative of the Reservoir Fluid,” he said. “
They had troubles with the tool because of a power problem and so did not get a fluid sample, Frank said and so did 88 Energy’s April 6 update.
2BCONTINUED
keefy
Ddraig 11:35
Waiting is what the big boys do.
Have a read of this link.
https://static.conocophillips.com/files/resources/willow-fact-sheet-final.pdf
Still sitting tight, just so exciting, I could whet myself
keefy
dazzle1000 14:08
Spot on again buddy about DW. Too many on this board seem to think it is he who decides where to drill & then cranks up the drill bit.
Couldn't be further from the real DW.
Bet he's never got his hands dirty & with his skill-set, why would he?
Continued Good Luck to All. LTH's & Newbies.
Just Hold your nerve.
keefy
Phrontist 12:45
Superb article dear boy. Couldn't agree more about DW & his business acumen. Hope we are not going to miss him too badly when he moves on.
Still Holding for next step.
keefy
Diagnostic 09:50
Hi, I am also with ii & indeed you are right to suggest they don't deal OTC.
Below is part of secure message reply to me a few days back, tickers deleted
"Thank you for your secure message dated 30-03-2021.
The stock xxx.CA is already tradable on our platform.
We do not trade OTC stocks on our platform so we cannot offer or
review xxx and xxx, I'm afraid."
As you also suggest, a call would put it beyond doubt.
Good Luck All who are buying in & LTH's.
Nearly There
keefy
Assumptions Contd.
I’m also thinking that after 8 days of Wireline logging, they would have sufficient data to know if they were going to complete, or plug & abandon. In which case, that 8th day would have been Tuesday 30th March, in plenty of time to inform the markets of the bad news before the Easter break.
Fingers X‘d.
keefy