Member Info for moneyhawk

20.52 - insider trading laws would prevent that happening. While they were able to buy with 1st hand knowledge of the drill, they wouldn’t have been in possession of critical information due to the stage of the drill at the time of the deal. Selling shares because they know bad news before it’s released to the market is very different.

20.47 - not entirely sure how it works with the otc market, but it’s not the same as listing on a stock exchange. It’s not a regulated market like LSE or ASX, I’m not even certain the company itself would have any involvement, hence why DW has never made any announcement about it.

The otc market appears to work ok the basis of individual brokers buying stock to sell stock on. If someone wants to sell their OTC shares, they’ll need an OTC broker to take them.

Its not all ramping nonsense, e.g. this post seems quite informative for the current stage we're at:

https://www.reddit.com/r/EEENF/comments/mbuwik/exploratory_wildcat_evaluation_process/

Just checked in to see whats happening, and I'm glad I'm not the only one thinking this, lol

There have been reportds, based on surveys from investment banks, that many people who are due to recevie the stimulus cheques are plannign on putting it on the stock markets.

The flaw in this for making assumptions though is the source of the surveys, which more likely than not have been asking existing clients who already have cash to invest what they plan to do, and not your average person who needs the cash to pay the bills with.

18.42 - it says it in the announcement you copied and pasted at 17.31

Really not sure why you are having such trouble understanding this.

Phron, surely you're intelligent enough to know that what you've just posted proves that what you're saying isn't true.

The clue is: "Are the +securities proposed to be issued being issued for a cash consideration? YES"

Further reading can be found here in 88Es application for the shares:
https://clients3.weblink.com.au/pdf/88E/02355884.pdf

Note the answer to Q 2.2h is N/A

If the shares had been issued to pay ELKO, it would have had to be specified in that section.

16.12 - Phontist is probably banking on no news until at least Friday, so on Thursday afternoon he'll be back to the multi billion $ valuations after he's bought back in.

Would be somewhat funny if news lands on day 3 instead of day 5 of the 3-5 day estimate

Why would Erik be needing to sell the shares he has just bought to cover the costs of the drilling? What a load of nonsence. He's not being paid in shares, he has bought them.

14.51 - no problem. There's lots of info on this site. The RNS tab is particularly useful for actual news that has been released by the company, its rarely used by some people though.

Deutcher, why do you keep asking for the volume? Its on this site that you're using to post the question. Scroll up, press the "88E Share Price" button. All the info is there.

Must admit to having a little chuckle at this exchange:

"What is 8p mean to American usd?"
"I just googled it. 8 Pounds is approximately $11 USD."

https://www.reddit.com/r/EEENF/comments/mbcyk3/takeover_rumours/

12.06 - yes probably treading a very fine line on what is and isn't insider trading. But I think would have gone through the nessesary clearances on the basis that when this was announced, the buyer (Erik) can't have known what the drill results would be. If we'd already have reached 6,000' and Erik had logging data that hadn't been disclosed to the market, then it'd be a different story.

Not this one again! No one working on the drill has been paid in 88E shares.

Elko have bought $6.48m worth of new 88E shares. Elko is Erik Opstad's company, who is our general manager running the drill.

So ask yourself why would the person managing the drilling process be paying $6.48m to buy shares at the moment.

EEENF first appears on the volume history on 18th November. But hardly any trading until the start of this month

https://uk.finance.yahoo.com/quote/EEENF/history?p=EEENF

Just looked them up for the first time in a while.

In a strange twist of fate, we’re now almost matching their MCap in the final days before the name disappears. But does give an indication as to how difficult their circumstances were when they pulled the plug on Charlie 1

Yes.

An oversimplification of trading strategies would be to say:
1. Some people buy oil stocks pre drilling, hoping oil will be found and making decent gains. But at the risk of losing a lot if it’s a failure.
2. Some people buy after oil is discovered to avoid the risk of buying into a failure. But at the risk of being spiked.

Yes.

An oversimplification of trading strategies would be to say:
1. Some people buy oil stocks pre drilling, hoping oil will be found and making decent gains. But at the risk of losing a lot if it’s a failure.
2. Some people buy after oil is discovered to avoid the risk of buying into a failure. But at the risk of being spiked.

7.30 - also a massive coincidence that they are both drilling for oil in the same location, at the same time, and have given their wells the same name.

It’s a pretty big risk Erik is taking buying that amount at this stage, and after we’ve had a 100%+ rise in a short period. Shows a lot of confidence it’ll come good.