Member Info for LeMajor

Wind was on someone else's lease and they decided where to drill. This time we decide and we have 3D to boot! Plus, as you said Brom, this is a stage further along -an appraisal well, so much higher probability and hope to see higher than 1.4p too. Not expecting too much uplift this month, but will pick up before Christmas.

Today is the fourth time I finished building my position. but not had a lot of influence bringing the avg down. Best not tell the wife.

Spinefx, tend to agrèe. I think the FO is on the back burner. After Charlie I wondered whether Alpha would be a target and provide a base for another Conv/Hrz dual purpose project. It would be a good terminal for a joined-up local pipeline too.

Brom, you sound like N Hemisphere version of Steve Urwin.... Salmon Hunter.
Tie yourself to a tree and as your rugby skills dictate, lunge, hold on and hope he tires first.

Drilling elsewhere will provide data which may prove consistent, better or worse that the original and so indicate whether the next hole should be more left a bit or right a bit. Drilling too close to the original will just prove what they already know.

Aka " dips" :-)

Not easy this week as flooding blown landline since Monday. Got intermittent broadband. Only 10 weeks to iceroads , so not too much going to happen before then (except Sophs dispersing surplus shares).

What spikes?
Just realised the -6 & -3 were not at yesterday close but nearer 9am but not recorded until today. Defo smoke & mirrors.

Curiously at close there was -6m &-3m then today several -9m & +9m.
Smoke & mirrors? This might affect the perception of volume.
Wish I could top up, but mostly I want 1.5p before we spud.

I think you have the essence B/dogg, but I would not be surprised to see them get very interested in the HRZ, if the core samples are good. Any other interested parties will also get the same data, but the more people you get in an auction room, the better. Must go, things to do.

Search for " 88e Wiki" then go to the Premier Oil tab - lots of info on all aspects of 88e for those who rely on research of others.
As for Mr Pickle "typically if a share price is falling then that says that the company is not doing so well"
that is only one reason for a fall, but a naive one in the context of oil exploration. Each stage takes months, sometimes years - so punters often get bored or frustrated and go chasing other shares. They then try to pile back in when a "good news" RNS arrives which sends the sp soaring before (once again) falling back while waiting for the next news.
During the drilling period and the publication of results following data analysis, there are shorter periods of "no news", so the sp decline is slowed, halted or even uplifted, so you need to be aware and prepared for a roller-coaster business like few others. Oil exploration investment is not for the faint hearted or whingers, sadly we still have to carry that burden.

Jiddy, the info is in the 88e wiki, under Premier Oil:
Brombarb has provides the start times for pertinent 88e comments - so no-one has to listen to all the other projects they have ongoing.
http://88ewiki.wikidot.com/premier-oil-plc

I did not hear mention of the agreement to drill down to the HRZ, purely to provide data for 88e-Bex.
I suggests that DW got a good deal and they do not want to draw attention to what it cost them.
It last the tide is turning - the sp is still lagging, but will catch up once the market becomes aware.

Just listened to the presentation from premier Iol on the deal they've done with 88e & Bex.
They see it as a cash generator over next couple of years. presence of oil is in no doubt, they just need to prove it flows well enough to justify a horizontal well next year. They have even costed it using seawater just in case there is insufficient local water - and it is still likely to be a money spinner. They have been looking at us for 2 years, but interestingly mention that they could buy a bigger interest or sell the interest they have (so if CP or OS have the cash, they have options (as do we).
Very reassuring.

You can read into it and moan about it as much as you like, but in my world asking for a bit more than you hope to spend, is as sensible as asking for a £60k mortgage when you could scrape through on £55k. Inevitably you will spend the extra on carpets or a car but if you had not asked, you would have no options. Some people may live a life of precision finance, I'm more of a "ball-park guy" - and if you do not agree, then maybe you should change your handle.

That would be out of character..... it would have just gone in the pot so less to ask next time.
Whenever I've put together a project and asked for funding, I asked for the maximum estimate + 25%.
That is because once a project starts, people get serious about it and ask for extras, and when one department asks for extras and gets them, others do the same. Now in theory, I can tel folk "sorry you should have thought of that and got in included in the budget (that's the civil servant's way), but in the real commercial world the question is why wait until tomorrow for what you can have today? So by having some contingency in the budget, you can sometimes get ahead of the game and turn it to your commercial advantage.
I know it was a silly (tongue in cheek) question, but thought I'd give it a serious answer anyway.

Just realise the heading I posted under was "oversold".
It would be the opposite of what DW usually does when "marketing a CR" - he usually asked for more cash than he actually needs (as those who have been around a while will know). I recently asked him about the last CR and he seems to have done the same thing again. He wanted around $6m, so asked for $10m - so he has enough of a "buffer" in case of unforseen delays, and more than enough when combined with what was already in the kitty, just in case we need it.
As he said in the podcast, the sp is a bit disappointing, and clearly he is trying to minimise the dilution (as a top-20 shareholder himself) - but I am sure we have enough to hold our end up, and we have that reassurance that next time we need a CR it will be at a much higher level (either that of we sell out our "conventional interests" or Yukon to fund the HRZ).
We have a long way to go, but the pace is quickening.

It may be a bit optimistic for 1p this Friday, as it could take a week before some of those Sophs offload at least part of their new holdings.
I suspect most Sophs will hold on for 6 weeks (or at least hold on to half their shares until they get above 1.2p).
I'm not so much predicting as hoping, to see the sp hit 2p early in January (maybe late Dec.) but where it will actually be is anybody's guess. If logic prevailed then we'd already be well past 2p, but AIM runs on sentimental vapour, and wafts whichever way the wind blows.
My real target is 10p to top-slice, but I have no time frame for it - it will take what it will take - even then the bulk of my shares will stay for the much bigger payout/sell-off.
The big decider will be to judge when the BoD's start to move their investments - at present they are all holding firm.

The best part(imo) is that PMO are going with OUR timetable which kicks off in December AND they have agreed to only take 60% of 40% for area A (i.e. 24%) and if they stick with us for areas B & C they get 50% of 60% (i.e. 30%). So whereas a typical deal with a major company would have cost us 75% of the Conventional and a 1 year delay, this deal has only cost us a 54% giveaway
(24+30%) in 2 stages and a near enough immediate start. Plus, we have not had to give away any of the HRZ even though the first drill gives us a freas chunk of core samples like we got from Icewine1 (for $18m) at no cost. I guess that is what creaming the curve is all about.
As DW said, we should see some champagne corks popping if this goes well. It gives me renewed hope that we could move into double digits on the sp by next summer.

Few here have experienced the thought, knowhow and pressures of raising funds to keep an enterprize moving. DW is one who can. Not only that, he has put his money where his mouth is. Many negative posters on this bb have not one red cent of investment in this company. Some may be embittered because they baled out early at great loss - whatever the motive they delight in making personal attacks on real investors and /or the BoD all of whom still have a stake in the business. I'd prefer they dragged their carcasses into the undergrowth and become plant food but only nettles thrive on bitterness. We can but tollerate them until the ice road construction starts at which time most will buy back in despite their current protestations ( why else would they still be hanging around).