The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
08:27 Or a statement that 88e is here for the long term. Some subtle hints dropped in earlier ANN's regarding the green future. Has any other explorer or producer made this commitment in Alaska yet? Not forgetting we are part of one of the smallest companies operating in Alaska
Good Foresight I'm thinking
keefy GLA
Hi Rod 09:20,
nothing should surprise us long termers. Share price is higher than the ask on here.
Share Price: 1.50Bid: 1.35Ask: 1.45Change: 0.08 (5.63%)
Spread: 0.10 (7.41%)Open: 1.488High: 1.50Low: 1.40Yest. Cl
Last checked at 09:24:52
GLA keefy
Picked this source up from Twitter .
Decent info on 88e, latest article published today but some of the data is a little dated.
Some is same-old-same-old
One for the bookmarks perhaps.
Microcapdaily.com
https://microcapdaily.com/88-energy-ltd-otcmkts-eeenf-run-brewing-as-peregrinoil-miner-targets-1-638-bbl-in-world-class-alaska-north-slope/132065/
GLA keefy
Hi All,
both ASX & AIM have retraced 50% from points immediately before the steep inclines on Friday.
For example @ 15:30 Friday AIM was showing 1.32p (Google Finance)
At EOD (end of day) chart showed 1.41p (Volume 6M) before UT, which wasn't shown on the chart.
Monday opened @ ~1.46p & continued to 1.56p @ 15:00 (the Peak)
Tuesday has opened @ ~1.53 & declined to ~1.41p around 09:30
Taking the High of this morning (1.53p) versus the Low of 1.32p (Fri 15:30)
1.53 - 1.32 = 0.21 50% = 0.105
Add that (0.105) to Friday 1.32p Gives you 1.425p which is where we are at the time of posting (09:51)
ASX pretty much same situation.
IMHO, we are OK guys, just normal trading mechanics
GLA keefy
Even more Confusd.com.
WoW, make it up as you go along & if it still doesn't fit you might be able to do something else!!
Interpretation received with great anticipation.
https://www.shiftingshares.com/what-is-an-uncrossing-trade/
Enjoy Your Weekend Folks. We may get a "gap-up" on Monday.
??keefy??
Hi Brom 18:18,
so, we have 1.27p on Google Finance, 88 Energy Ltd
GBX 1.27, -2.90%, -0.038 Today - https://www.google.com/finance/quote/88E:LON?sxsrf=ALeKk02go-UG8fov5o-V9o3Dq_3JR0oMXQ:1600333649843&ei=USdjX8qHM_mQ1fAPiKCFIA&oq=lon:88e&gs_l=finance-immersive.3..81.6262.6262.0.7587.1.1.0.0.0.0.145.145.0j1.1.0....0...1c.1.64.finance-immersive..0.1.144....0.lkq9egrJV1w#scso=_WidjX9u_F6ih1fAPzaKsCA7:0
which actually shows 1.41p @16:30 on the line-chart, & we have 1.426p on here (LSE 88e Share Chat) @ 16:46.
However, what I need to understand & it is always good to remember, the 'Share Price' is often reflective of the uncross trades at the end of the day. 1.272 was a small (£1,200) UT. Remember your long position will be market at the bid price anyway so 1.35.
Confusd.com
keefy
Hi Ddraig 17:20,
but as I post this reply @ 20:15, my 1m + shares with Interactive Investor are showing 1.272p. I will give them a call Monday asking for a ratchet up to 1.35p. Not too sure they will oblige, but thanks for the explanation.
keefy
Hi All,
just been glued to the screen watching the fight for 2 cents.
72 million volume from their open to our close @16:30.
OTC threw the kitchen sink getting to 2 cents about 16:00 & then holding off all sellers as it dipped just below the mark but but promptly bounced back to ~2 cents on the next volleys.
Sad finish for us @ 1.27p but fascinating to see where the after hours trades might take us.
Enjoy the Weekend folks. Much, Much more to come next week.
keefy
Hi Rab79 13:48,
You final thoughts had already got me thinking along those lines. I found bits in the 88e 2018 FY Report & elsewhere.
The Alaskan Government has approved a tax credit of A$26.03 million as at 31 December 2018 (US$18.35 million).
This amount has been fair valued as at 31 December 2018 and recognised as an offset against Exploration & Evaluation capitalised and recognised above within Other Non-Current Assets. The amount paid will be directly applied against the outstanding loan with Brevet.
The ACES program provides up to 85% tax credit for eligible capital expenditure. All expenditure is audited and must be approved by the Alaskan Department of Revenue. The tax credit is available as either:
- A tax refund received in cash;
- A tax credit against the future production tax, thereby reducing the total production tax in any given year; or
- A transferrable certificate, subject to certain conditions being met.
The ACES program provides up to 85% tax credit for eligible capital expenditure. All expenditure is audited and must be approved by the Alaskan Department of Revenue. Once approved, the benefit can be exercised in one of the following forms:
Apply the credit against the production tax, hence reducing total production tax liability in a given year; or
For unused tax credit, apply a transferrable certificate. This certificate does not have an expiry date and can be sold to a new third party; or
For unused tax credit, apply to sell the tax credit to the Alaskan Department of Revenue
I would say 88e have played a blinder here as they could have been waiting until 2026 for payback.
Courtesy of Kalkin Media: Rationale behind the transaction
This transaction accelerates 88E’s time line for realising value from the Tax Credits, which the State of Alaska was less likely to pay in full until 2026 under present projections.
A bigger part of the funds from the sale shall be utilized for completely repaying 88E’s present outstanding debt of US$16.1 million. This outstanding debt concerns FCS Advisors, LLC and the repayment was due to mature on 30 December 2022, and FCS has waived early repayment penalties.
One Step at a Time Guys. Ducks in a Row & all that jazz
GLA keefy
Hi guzzler 09:36,
could mean that Peregrine isn't going to be included in any potential buy-out. Icewine on the other hand, (IMHO) could be the target of any buy-out coming soon. It also, wouldn't surprise me if Pantheon were bought out at the same time. The 2 of them are inextricably linked, so would make sense to scoop them up at the same time. Conoco meeting at the end of the month could be very interesting.
The massive share buying at the moment is having no effect at all on the SP, apart from keeping it stable at an excellent buy price. So many goings on & more & more valid but different opinions about which way this is going.
Entertainment Value for sure.
GLA keefy
Hi WAaussie 16:14,
just gets better by the hour. Hyper volumes OTC & some decent posting on Twitter all helps to drive this little old 88e North.
Courtesy of various Tweeters with a $EEEnf slant
Twitter PANR
https://twitter.com/i/status/1407318539837530115?cn=ZmxleGlibGVfcmVjcw%3D%3D&refsrc=email
https://twitter.com/AlaskaPanr
https://twitter.com/search?q=%24EEENF&src=cashtag_click
Still Holding Firm, the only way is UP.
GLA keefy
OTC may get serious today.
https://twitter.com/search?q=%24EEENF&cn=ZmxleGlibGVfcmVjcw%3D%3D&refsrc=email
Just Maybe
GLA keefy
Hi Rab79,
just from my inbox; https://wcsecure.weblink.com.au/pdf/88E/02386507.pdf
Ashley Gilbert Performance Rights, Number acquired 11,200,000
Still intend responding to your Friday article Rab.
GLA keefy
Hi Dazzle 1k,
with reference to Mr Dave Wall & thinking outside the box: Could he have been a constituent player with APDC, using his own funds & perhaps Eric may have also been involved. The FO deal was set up really quickly & very late in the year.
Based on this piece from the recent ANN; APDC issued the following statement regarding the transaction: “We are very proud of the important role that we played in the drilling of Merlin-1 and the initial exploration program at Project Peregrine. HOWEVER, WE ALSO RECOGNIZE THAT WE ARE UNLIKELY TO BE ABLE TO SATISFY ANTICIPATED FUNDING REQUIREMENTS FOR OPERATIONS IN FUTURE SEASONS.
APDC, whoever they may be, provided $20m to enable potential drilling at both Merlin & Harrier. They have now stepped back but ensured that they will be amply rewarded whichever side the coin falls.
DW is a strategist & he may have just got this absolutely spot on.
All IMHO, please understand.
The ducks are lining up & quacking
GLA keefy
Brom 19:53
In Another article from Petroleum News:
One solid Petroleum News source said he understood the new interval might be 1,000 feet thick. No corroboration was provided by 88 Energy on April 6.
But Who mentioned 1000 feet?
IMO it is one of 2 people, shown in the piece below (In Upper Case)
KEVIN FRANK, a geologist and section chief of the state Division of Oil and Gas’ resource evaluation team. “I think they (88 Energy) have done a good job,” Frank said, FOLLOWING A LENGTHY MEETING WITH MEMBERS OF THE DIVISION’S 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 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 found, promising? “There is still uncertainty, but they have reduced it by getting some positive signs. I think it is encouraging - what they did get,” he said.
Division of Oil and Gas Director TOM STOKES, his boss, endorsed his comments; “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.”
it would appear these 2 guys have seen & perhaps authenticated the results.
Who Knows?
The plot thickens
GLA keefy