Member Info for mikemike

Pat

I cannot see the connection as to why the suspension of IW2 will affect negotiations on two Conventional wells already permitted for Q1 2019.

The bigger oilers cannot get access unless they do a JV. Will they cut their noses off to spite their faces?

There are 1.2 billion barrels of Conventional leads on icewine, what is the cost of missing out? Nickle and dime this at your peril.

3D confirming the best place to drill over multiple stacked plays is worth its weight in gold.

yes Jv is not an issue

Armstrong was a junior brought in Repsol, 14 drills 100% success and the rest is history in the making

pat

DW is a price maker not taker. Poo at close to $80pb Oilers have seen what armstrong Repsol brought out of the ground with 100% success t rates on their JV drills

Initial capital from a farm out added to the bank plus SOA rebates and options due in Q4. Should either of the two wells be a success then additional capital will be coming in

Ignore shale for now, if anything comes from it before 2019 then that would be nice, IW2 is suspended not P & A

The big oilers are not allowed to buy at auctions. this prevents them land banking and not drilling.

Designed for smaller oilers to get an opportunity

so DW was highly opportunistic:))

wee racal

we also have the SOA rebate due to remove debt, reduce cashflow burden and place money in the bank, just not sure how much as there may be early closure penalty on the loan.

BRB1

why doubt their overall competence because IW2 is suspended?

this was and remains

''A one off, never been seen before, hybrid with both good and bad attributes''

I doubt that there is a shale management anywhere that could, would, or should have got a better result.

Houston, provided the expertise for the well with over 100,000 shale wells completed.

Everything to play for with Conventional being the immediate focus?.

pat

you think a Cr will have any mileage at a discount to current price?

lets say Dw cannot secure a farm out this year or for Q1 2019 drilling. That means the 5m in the bank will have to stay there and the SOA credit rebate will top it up. We appear to have funded the Horseshoe project.

If and it is a BIG IF Dw was to go back to equity for funding I suspect a significant Share consolidation first. Dw made it clear why he would not be in favour of this, yet times can change and the needs with it.

Any reason why you do not believe there will be a farm out for conventional for the 2019 Q1 drill

Have a listen to the CEO of Otto matty allen talk about a new joint venture he hopes to disclose very soon. I wonder if his very soon will coincide with our 'very soon 3D' disclosure? He was impressed enough with us to jv the Horseshoe

Why will the sp double or treble? it never did when the last rig was announced and arrived.

I would like it to!!

cyall wen uroldernowiser

''I was very positive and have held for over 3 years''.

so you say

Jaffas

you sure have no idea about who you are let alone why you are.

''I dont know what people want, its quite positive as an update!!!
The well is flowing on 28/64ths, trundling along nice and easily, you dont rush a FRAC flowback. Its also very positive that the FRAC fluid is coming back out the formation and has not caused any damage by the looks of it...Bring on the HC's!!
(Flow was re-established on 15th June at 20:00 (AK time) with nitrogen introduced into the annulus between the 4.5" casing and the 1.75" velocity string. After displacement of fluid in the annulus, the flowback rate stabilised at 350bpwd through a variable choke to maintain a target wellhead pressure of 200-400psi)''

Within 4 days he was posting as he is now.

A perfect example of a day trader trying to pretend they are anything but IMHO

''don't just highlight the derampers when there are too many of the 'loyal' lthers who've played at idolising the bod while cashing in at the same time. ''

name them

Some of us do not talk the share up, we talk about the potential of the business. The sp will take care of its self.

I believe the potential here has an amazing upside, this will eventually be reflected in the sp

LTI

lead into delivery for oilers is not unusual to see a 10 year road map, especially deepwater

March 2019 will be 4 years for 88e, no perception , just plain reality.

I am happy to wait.

Bromb and i keep sneaking in very modest top ups, keeps the wife happy as she ever will be.

SV82

Only for those with invites:)) forget the shale do the math for the conventional.

Oil search have done us a big favour and they admit they got the deal with Armstrong on the cheap.

Oil leads may deliver NET 1.4bb of High grade API Probable BE 35$pb. 88e take 5$pb = $7b

Yes, the big assumption is that we will NOT be the only oiler who does not hit oil. Armstrong junior partner with Repsol. 14 drills all hit the pay zone for 1.4bb Armstrong sold some off on the cheap to Oil search.

There is a lot to prove up, exciting innit:))

1/ IW2 was going to make this company...... Reality - Duster with lots of good information. Not a duster, if it was it would be plugged and abandoned, it is suspended whilst farm out talks take place.

2/ Farm out does not work as you are suggesting, there are many permutations.

3/ Alt ready paid the $6m needed and carrying the permit costs.

4/ Yukon gold is more of an opportunistic venture than you have given credit to

5/ ''I may have made some mistakes< no too many> here in my assessment but I think most of you will agree I have the general idea'' I think your perception is your reality, it certainly is not mine. In general , looks like you have little idea.

He was not in Tangiers for very long so the living must have been very short and poor. he also took a low pay scale to start 88e off, hardly profiteering.

I am sure Dw is working very hard at adding value to both us and himself with Farm outs

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