Member Info for mikemike

Wa

His record is so broken it is stuck on loop

Loopy lou

or just plain loopy

Bromb

you do not need to justify anything to anyone they are all adults

Dave Win I am seriously wondering if you did any research at all, especially the part in the presentation where DW spelled out exactly what would happen in this scenario. Except back then we did not have the comfort of the Conventional we have now.

As you are so 20/20 with hindsight you must be a true god among O & G juniors everywhere.

When are you going to start to grow up and act half your age. No one forced you here, you chose freely. You can of course choose freely to walk away.

Rudyard Kipling's IF comes to mind and you have failed on the last line.

BGW that poem is pinned upon my desk as reminder that I am to always take responsibility for all that I do.

I suggest you try it

WA

Take mrs wombat along as she may be able to interpret the data or rearrange Dw:)

DYOr81

All you have to do now is prove it

Not only has it not been seen by me before it is clear I spend too much time looking at the corporate presentation. Why on earth does LC not build this into the corporate presentation !!

Thank you for this it is a great help

Wa have you and mrs wombat taken a visit to the data room? i am sure Dw would love to give you a guided tour:))

Island girl for those who have been with 88e for years it must have been hard to buy anything over 0.9p I know when I started to buy it was at 0.7 and then down to just over 0.3 so i am ahead as are many others who have been here for years.

I understand that prior to 88e the TPET holders may have averaged own to their advantage and good for them.

The non holders who are out in force to day will soon be gone when the Sp recovers. Never seen so many on one day, wonder why lol:))

I understand that some said they will vote against the October 15 resolution. Just a gentle reminder, you need to be invested to do that!! Time to put your money where your key board is.

Bromb

For the physical data room in Perth to be opened is a statement in itself. Perth is a back water for Australia let alone the global oil industry. Houston being mecca for global commercial oil makes sense.

So who would want to visit a Physical data room in Perth?

Woodside
BHP
Oil search

I suspect the last of the three as they will be testing the data against Horseshoe which is just is just over the road from Winx and a very short pipeline away from Winx.

Jd similar thoughts the more that gets proven up on the 3 main projects. The more intrinsic value will be realised.

I agree, even if it is odd, that this may be a best case of 'more haste less speed' to deliver accretive valuations.

''I'm beyond angry at this and at my own stupidity''

ahhh self recrimination in a public place

Dave Win ..... it happens

''The CR was partly to strengthen the balance sheet (which definitely helps negotiations) but also to allow for testing at winx if warranted.

Seems to me that partners here, have just circled the square not circled the waggons

Courtesy of Mezo

https://hotcopper.com.au/threads/ann-non-renounceable-rights-issue.4473297/page-59?get_post=true#.W7Rq32gzbIU

''Potential sp positives coming soon..

-yukon 3d confirmation.. although it may be more of the Cascade prospect being shown rather than discovered oil.. however the historic drill is smackbang in the middle of that seismic anomaly (in presentation)..

-icewine conventional farmout by yrend..
At current deals arpund the industry, i would expect at least 2 drills freecarried for net 30% to 88e.. looks like drills in 2020..

-winx.. at least partial disvovery..

Good yukon numbers should give it a kick to maybe 2.5 to 2.8c with 6.3bill shares on issue
Then decent farmout maybe push it past 3c to 3.5c mark..
Then how high it can get in leadup to winx drill is anyones guess..
But on winx success case, i would expect 10 to 12c to be hit..

I havent mentioned anything about hrz... but if they do actually farm it out and successfully flow it via horizontal, then would expect a 10 to 12c range to be hit on that..
So still plenty of potential from now to mid2019.''..

DYOR81

It happens

The rights issue is becaaaaause DW wanted to do it not needed to do it. looks like Winx has now got all all corners circled.

The data room has hardly be opened long enough for Tier1 companies to have concluded anything. anyone suggesting such is not at all certain of how long such a process takes. There are lots of leads to test out, not just one or two .

Tier 1 companies will have a long wait as the leases are held for along time. in addition tier 1 my not be able to bid unless the SOA changes its rules.

DYOR, not being happy does not give you the right to lie. DE needs net 12m$ to pursue Horizontals from IW2, we do not have that now and will not have that later. Dw has made it clear to those that listen the funds will be used for Winx not HRZ

I will be very happy to see you go at 2p as well as a recovery to that price suggests more to come.

Chill

Pat

from the answer Dw has provided it looks like he has the costs of Winx fully covered even if he does not secure a FO in time for that spud, prudent I would suggest?

parking the MCPP

Anyone any thoughts on timing for the ML for MCIPP and if it does come through what will Kibo do then.?

''I don’t think I will be the only one on here with this view''

I am sure your view will be shared by all non investors and some who are invested, not all

Ir

There will always be institutional interest at a significant discount.

Investors have complained in the past about not getting the benefits of a discount with a rights issue. Now they are complaining for getting what they could not get before!!

The issue is being underwritten by Institutions, so they are a back stop instead of first call. They may get some, or next to nothing and sulk like they did last time. What institutions get or not, will be determined solely by Pis.

Hi Mike

The CR was partly to strengthen the balance sheet (which definitely helps negotiations) but also to allow for testing at winx if warranted. And then bits and pieces for lease payments etc. A few complaints out there about the low price but would have thought that made it more attractive to existing holders... Anyway thanks for the support

The 3D is in its final processing sequence but the product from that is not necessary to make a drill decision. Is more for development if the drilling warrants it. 2D processed as much as we needed to in order to pinpoint the 3D. You can always do more but it is not cheap and take time so we tend to do as much as we need to and no more.

Cheers
Dave Wall
Managing Director
88 Energy Ltd

88e holders are chasing far more than WINX, They are also after 1.75bb on icewine plus Yukon not to mention HRZ

I am in both here and there but am adding to the rights issue over there. Additional spare funds out side of there may come in here, or to a couple of others I am in.

I believe both are a strong buy, just too lazy to box tick it.

Agreed this is classic DW > Did not need to raise funds but has done so because he wanted to.

I also suspect the SP will move ahead so the November options are converted. This will in effect bring in over £8m in short order.
SOA coffers are overflowing with income and I would not be surprised to see an increasing trend that may allow a full rebate being paid and make the current court case moot. In addition the spud rebate coming back.

This Alaskan financial year should see 88e net nil debt free position realised. Lots of funds in the bank and the capex focused on JV conventional drilling. I will leave HRZ out as I see that coming in for the following SOA financial year.