‘Eagerly Awaiting’ News19 May 2021 16:16
Not many posts today, thought I’d put a summary up - still all positive from my side :-)
Eagerly Awaiting Results:
Surely it’s encouraging that the early signs for Merlin-1, according to Dave Wall, ex MD of 88E, are even more positive than Charlie-1!?
During DW’s tenure there have been a lot of successes for 88E, much of which is in the data that we’ve acquired through 2D, 3D and from the actual drills.
Have we done enough?.....possibly? ...for a major to take ownership and prove up the Western leases (Charlie/Heavenly) which is the ‘second’ best drill and has already discovered 1trillion CUFT of Natural Gas (that’s for you rfarfa :-) ) and 1.4 BBOE, with the data re-processed, more than enough to attract a major for a potential buy out of this element?
Peregrine: The recoverable oil at Umiat, I believe, is truly well under estimated and I note that all the finds on the Nanushuk are reported, initially, relatively small and the actual recoverable numbers are multiples of the initial findings...this ties in nicely to Merlin, where we’ve got most of the information that we need from the well, just missed out on the final flow stage - but, again, enough to encourage a major along for a discussion/deal. And the tie in for Harrier could be equally compelling.
The ‘spill over’ from acreage to the North of us, discovered from the recent drill there, will also be advantageous to us, especially if it ties into our Alpha lead(s).
HRZ, not quite the icing on the cake now but, at least, an equal partner in the available projects.....a substantial resource on our territory, that’s more costly to get out of the ground, but would sweeten the pot for any major interested in our acreage.
Yukon, and the newly acquired acreage there, I believe will be holding significantly more resource than current information would infer.
What’s the chance that we were asked to explore Umiat/Peregrine instead of Heavenly this winter as some entity has the whole acreage in their sights?
Lots to look forward to and news just round the corner.
IMHO/DYOR