Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
Hope not. Some on here will find a negative with that as well.
There's a smack of desperation coming through on some of the posts tonight. RNS 21st May..."" this is estimated to take 10-14 days"" .....Estimated.
We have Brent Villemarette ( Brent holds a Bachelor of Science, majoring in Petroleum Engineering, from the Louisiana State Universit), and Dr Staley working for 88e (He is a Fellow of the Geological Society, holds a BSc (Hons.) in Geophysics from Edinburgh University, a PhD in Petroleum Geology from Sheffield University and an MBA from Warwick University.) Maybe they should call Winifrirh for some advice.
What I was getting at was that the plan is to punt the company. The board will sell the field to a major. No chart or "market" value is going to decide what price we get. And it won't be around £100m that's for sure. See - https://uk.reuters.com/article/us-oil-search-deals/australias-oil-search-buys-into-promising-alaska-oil-find-idUKKBN1D033X
"" Questioner: Looking at the end game, is it still to sell or to be a producer or perhaps both? Dave Wall: Technically, if we get a flow rate this out of the next well, which we should, it's just a question of how much we'll be a producer. If you're talking about large-scale production, really, I think the first phase of that potential monetization strategy is to get to a point where we have delineated the resource and prove that production is coming from multiple horizontal wells on the acreage. At that point, really, we've increased the optionality of the project to, I guess, a juncture where we can make a decision, which path we want to go down. Obviously, it will be very tempting to just monetize it and sell it. Ultimately, if this turns into a full field development company, I don't think I will be around to see that even if it is still under the 88 Energy and Burgundy banners, and whatever happens to those vehicles, because that's just not our wheelhouse, right? Ultimately, those decisions get driven by the shareholders. If we've got a bunch of shareholders at that stage, it would probably be, unfortunately, not you guys, but larger institutions driving the strategy in terms of financing and saying to us, we want to take you through. We think that that is path as the board to create more value for shareholders even though by that stage, we're talking about 15%, 20% a year or something like that which is pretty good. It's not going to be the type of uplift that we're in this project for, so we won't be around. Questioner: Also, what would it take for a major then to say like, "Well, 88E, we're going to buy you"? Would it need to have just the one well? Would it need to have several wells? Is it- Dave Wall: I think it is possible. If we get success in this next well, we could go and lift the skirt, so to speak, to all the majors, and we definitely get offers, but how much will we get, right?
Lefkosia, serious question. Have you watched the investor presentations from start to finish?
https://www.youtube.com/watch?v=pKL1_tog0Kk http://www.gekengineering.com/id6.html
All will be clarified in the next release I would imagine!!! :-))))
""The flow testing program has been designed to utilize nitrogen lift to assist the removal of up to an additional 4,000 barrels of fluid from the HRZ reservoir. It is anticipated that this will enable the hydrocarbons in the reservoir to flow naturally to surface at a representative rate. Based on modelling of the reservoir pressure and fracture conductivity, this is estimated to take 10-14 days"" ,we are only 5 days in. People need to stop plucking stuff out of thin air.
The price started dropping on the 5th June. - Announced on the 5th June = Pressure build-up analysis indicates no deterioration in fracture half-length...Commencement of flowback at Icewine#2 on schedule for 11th June. Figure that out.
Brief description of flowback operations video. https://www.youtube.com/watch?v=F1IVAu6t05U
Interview was very upfront and honest? Are you for real? The guy doesn't even work for 88E, he's a share commentator. He knows no more than any of us about what's happening.
moneyam for live trade data.
Case postponed until June 21st. https://www.thestar.com.my/business/business-news/2018/06/11/sarawak-govt-disappointed-with-decision/
* Doctor Staley.
Plenty of sunshine on the North Slope at present ;-)
Satisfaction hopefully LifeO!!!
88e is an exercise in greed? What a stupid comment.
******* Pressure build-up analysis indicates NO deterioration in fracture half-length *^^^^^^^^^ 80/20 straight from the horses mouth. Believe. The ducks are lining up.
Remember ASX is closed on Monday. Probably won’t make much difference but won’t get ANN/RNS update until later in the week?