RE: Waussie7 Apr 2019 20:08
WAaussie 15:50
Hi Mate,
I believe the reason DW has now erred on the pessimistic/cautious approach regarding FO, by including this line, "the deal isn't done until the deal is done", is because of the following 2 comments taken from each of the Winx announcements.
88E Managing Director, Dave Wall, commented: “The operational performance by the team in Alaska during drilling has been outstanding, with a safe and efficient execution of the program.
Encouragingly, we have also encountered multiple potential pay zones in the primary target as well as one of the secondary targets. Whilst it is still early days, we are well placed and look to the wireline program with measured optimism.”
88 Energy Ltd.’s Managing Director, Dave Wall, commented: “The early encouragement seen at Winx has not been confirmed by the results from the wireline logging program, despite many of the hallmarks of a successful Nanushuk play being present. Analysis of the data is ongoing; however, it is deemed unlikely to change the current view in a material fashion. We appreciate that this is disappointing for investors but, at the same time, we look to the future and continue our forward path to ultimate success at our projects in Alaska. An update will be provided on the broader Alaska project portfolio in the near term.
DW was aware he raised everyone's hopes in that 1st announcement, only to be dashed by the final findings when analysis had been completed. He apologized.
He will not make that mistake again, hence making the comment, "the deal isn't done until the deal is done"
Just my view.
keefy
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