Member Info for LeMajor

Why 128? Are you going to make an offer :-)

I would not expect more than 20 wells on the NS, but given the finance, I have no doubt that 4-5 per year would be possible, and maybe another 1-2 if we could get "roadside permits" to allow summertime drilling. I'm not ruling out a couple more holes from FB next summer, it just depends on DW's negotiations - so would be post-WINX at earliest.
As for another CR, whether we endure another, or whether we take on a partner, we will effectively experience further dilution. We need lots of cash to be spent before we make it all back, and much more - time and money, then the reward.

A lot of people seem to intend to off-load all their shares in one go, and the gloom merchants keep saying 3 /5/8 more years - but why? My strategy is to take out some cash at milestones that suit ME. I will not dump my entire holding in one go - I intend to live a little before the SP maxes out. I did not buy in all at once and do not intend getting out in a big bang sort of way either. Pace yourselves, if you don't need it, leave it in a bit longer.

BTW regarding my earlier calcs, it is generally felt the OS got in cheap when the oil price was half its current value - so we could get to an £1 per share well before proving up 8Bn barrels (with 2.7Bn being our share of it).

Sorry, forgot to delete something in prev post:
"..the Horseshoe block, which hit oil in March in what Repsol called the biggest U.S. onshore find in 30 years,,,,Oil Search bought in assuming the field holds 500 million barrels.....giving it a roughly 26 percent holding in the Nanushuk play...for $400 million" This is based on their share
on 26% or approx 125M barrels of oil (or 1/8th of a billion barrels = $3.2Bn per Bn barrels of oil).

With 6Bn shares in circulation, we would need to have about 2Bn barrels to get $6bn .
To get £1/ share we (88e) would need to own about 2.7Bn barrels.

We know that our potential is in excess of 8Bn barrels, but we also know that we'll have to share it with Bex, and at least one other partner. All we have to do (easy) is prove it (with help from a partner) and retain about a 35% share of what is under the ground. Sadly, it has taken longer than most expected to get to our current position - but we will be shifting up a gear next year - hence DW's comment about "the next 9 months".

The £1 party is dependent on when and how DW sells off our assets, after they are proven - and to whom.
I hope to be at both the 25p party and the 50p party before then.

Link to details above: https://uk.reuters.com/article/us-oil-search-deals/australias-oil-search-buys-into-promising-alaska-oil-find-idUKKBN1D033X

"..the Horseshoe block, which hit oil in March in what Repsol called the biggest U.S. onshore find in 30 years,,,,Oil Search bought in assuming the field holds 500 million barrels.....giving it a roughly 26 percent holding in the Nanushuk play...for $400 million" This is based on their share on 26% or approx 125M barrels of oil (or 1/8th of a billion barrels = $3.2Bn per Bn barrels of oil).

With 6Bn shares in circulation, we would need to have about 2Bn barrels to get $6bn (or $1/share).
To get £1/ share we (88e) would need to own about 2.7Bn barrels.

We know that our potential is in excess of 8Bn barrels, but we also know that we'll have to share it with Bex, and at least one other partner. All we have to do (easy) is prove it (with help from a partner) and retain about a 35% share of what is under the ground. Sadly, it has taken longer than most expected to get to our current position - but we will be shifting up a gear next year - hence DW's comment about "the next 9 months".

The £1 party is dependent on when and how DW sells off our assets, after they are proven - and to whom.
I hope to be at both the 25p party and the 50p party before then.

HTH, I'm in the same boat - moving house, cash tied up, wrong time for me - that's life.
This RI is not on my plan but I'll try to live through it.
:-)

I wondered if UN might split the deal rather than all eggs in one basket. Even half of this loaf would be quite a meal.

Being an outsider (out of town farm), never heard of parachute club, did know about snakes. Would not be surprised if Alaska had a town called Whales as well. Looking forward to podcast though not expecting it to impact sp before Nov (but every little helps).

I don't think DW said 15% off an sp of 1.15 - he quoted in $A (AUD) - so the rest is an embelishment through "Chinese Whispers" and exchange rates with £ (GBP). Agree with McIvorv calc, so base sp (working back) is closer to 1.18.
Think of a share that drops 50%, it has to go up 100% to get back to the same level - but add fluctuating exchange rates and then you're guessing !

Best google the definition of a SI, but from memory it is 1 or a group of people who can lay their hands on £250K ( but don't quote me). They may be flippers but the point is that they take up any slack so we don't end up with a funding gap. They have been dissappointed in the past where the CR has been over subscribed.

I suspect there are "sophisticated investors" lined up to take up the slack, II's may be in the mix but we may still be a bit "unproven" for most of them.

barely 200k shares changed hands today with avg deal around 20k - most investors not letting go but mms are holding the sp down. when this stalemate breaks we will move to a higher plateau very quickly.

Steve, I note your half hearted deramp. you are clearly not convinced by "this will never get over 3p" as you've added "without a big contract". Well we already know of several "big contracts" - we just don't know HOW big, yet.
Air freight, sea and rail freight will be major sources of income, as will agriculture - but having Bosch, Harley-Davidson, Verizon and other "middlemen" endorse these products will lift us even higher in the ranks.

Why keep bleating on about the "underwater" issues. My Sipp has a few million 88e shares at 2.3 (avg) so I could bleat just as loud - but why would I? I did not invest to sell at a loss, for me, somewhere between 10-100p will trigger some selling, and I will probably spread those sales over a year or two but leave a chunk for last orders - no need to bail out in one go, just as I did not buy in, in one go. The key to investing is patience and taking the long view. I traded about 20% twice and made about 2% on one attempt, and lost 5% on another - trading is clearly not my thing.
I cannot be sure, but I feel we are near the half-life of 88e as we know it. In another 4 years (or less), it may well be swallowed by a major player, but one or two of our subsidiaries may live beyond - so a full "sell off" may not happen for decades (in which case my kids will get the benefit of what's left).
Your gripes and swipes will be forgotten by the time I sell out, so why not employ your breath somewhere that you feel happy, as there is no benefit to you or us whilst you remain. If DW gets the proposed incentive scheme results, I will have made a few bob too so it's all gravy.
GLLTIs

As I remember it Tim & Abman harvested investors holdings and became defacto collator/organisers. They offered to use that same contact list and the bb to post out details of the first 88e meeting. It reminded me of a couple on an ego trip - shareholders supported their willingness, DW was happy to accept their assistance for that first meeting. Not having attended, I listened to the audio and just remember they announced DW, PB & SS and organised a raffle at the start and subsequently opened a free Wiki account. They were less prominent by the next meeting then moved on to CTAG. End of.

Perhaps "NotDunwell" would have been a better Id, however every step (successful or not) takes us closer to the prize. I would think next year will see the worm turning - having diversified into 4 projects. Only one or two successes will restore confidence and they will fund a further series of cores/fraccs into the HRZ.
The several CRs have supressed the current sp - but once we have a new cash source the sp will be unhindered.
Strange that you say you are not bothered about being filtered yet seem to wish ill will towards them - of couse having filtered you, they will not be aware.
Hoping for prosperity to all even the traders.
BTW Tim also passed on Wiki access to others, inc me

Neversat, if it had been posted I missed it, so appreciate the link. Just waiting for the big freeze, then 88e can get moving again Winx, Winx 😉😉

No point selling now - it's been a long wait and I'd like to top slice between 5-6p, and free run the rest. The big Q is "Are we there yet?" It would be great if it went higher as I'd be free running with a bigger pot - but will sit tight if it does not make it. 2019 will be a boom year IMO (with or without the UN).

That 3D is tantalisingly close.

Tradedesk, I hope you are right. I too think there is a vibe, could be that curry last night - but feels more like an over-tightened watch spring. An RNS tomorrow pm would set this ablaze on Monday.