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Yes, understand the issues with the HRZ and all will be revealed shortly with hopefully a positive outcome for investors. Also, the conventional successes by many other companies on the NS speaks volumes for whether or not the oil in place is generally recoverable and commercially viable – obviously still with risk attached to our finds, which is being mitigated at every step. Good news is that we will know very soon what the outcome is for most, if not all, of our projects.

GL to those Invested!

Check this out for yourselves, however I interpret that the following are ‘discoveries’ from the Post 3D Inversion Results RNS/ANN announced 22/10/2018:

Recoverable (mmbbls)
Prospect/Discovery Low Best High Gross Mean Net to 88e
Indigo Discovery 225 358 543 374 290
Lima Discovery 105 323 713 376 334
Heavenly Discovery 23 62 120 68 58
Stellar Discovery 320 604 999 639 500

Totals 673 1347 2375 1457 1182

If correct (please correct me if I'm wrong), then at the lowest estimate we have 673mmbbls with lots of upside – what’s not to like?

Waiting patiently to see what the ‘compelling offer’ looks like!
?
GLA invested

Seems as though a 90 day trial period is an ideal timeframe to identify if our gas cocktail can increase the yield in this lucrative market: https://www.google.com/amp/s/www.growweedeasy.com/how-long-does-it-take-to-grow-weed%3Famp

In terms of the conventional FO, of the targetted 2,211mboe, I wonder exactly how much of the total resources are accounted as discovered? The corporate presentation identifies 4 prospects which have already been intersected by vintage wells and considered oil discoveries by 88e – the total volumetric analysis of these 4 prospects alone accounts for 1,182mboe of the conventional resource. In the presentations they are represented by; Indigo Discovery 290mboe, Lima Prospect/Discovery (Stacked) 334mboe, Heavenly Discovery 58mboe and Stellar Prospect/Discovery (Stacked) 500mboe.

I suppose where they advise ‘Prospect/Discovery’ then some of the stacked fields still have to be intersected and proven – does this mean that we can assume we already have a discovered resource of at least 348mboe (Indigo and Heavenly), with good upside?

Thanks KTF - as Brom advises, things continue to move on - lots available on the 88e WIKI and most importantly via RNS's.

Yes, a moving feast Brom - will hopefully turn into a feeding frenzy soon enough :-)

WINX:
400m boe
SPUD February
Multiple stacks
Targeting extension to proven play (analogous to Nanushuk, adjacent to Horseshoe#1 Oil discovery))
144mboe to 88E
GBP believed it worthy to FO, 2 consortium partners (Otto & RMP) + 88e have reviewed modern 3D seismic data and all believe a good prospect to invest in.

88E Conventional:
2,211mboe
Some of which elevated to discovered by 88E
Based on modern 3D seismic executed across only 25% of the total acreage leased by 88e
FO negotiations underway
MD states, in Q4 CY18, expects ‘compelling offer’
When FO deal confirmed will signify confidence by the O&G community in the asset/resources we control

88E Unconventional:
1b+ boe
Analysis ongoing with Baker Hughes
Updates on outcome of analysis due, potentially overdue
FO process (supported by analysis) expected to progress through Q1/Q2 of FY19

Yukon Gold:
90mboe initial volumetric evaluation identified with ongoing 3D seismic analysis
BP previously drilled and discovered Oil
Feedback on additional 3D analysis due
Access to Point Thompson infrastructure
Multiple O&G companies targetting same area/geology
Next door to ANWR

Hi Brom, my interest was really around any visibility of 88e or their partners publishing the results of any due diligence around the quality of the prospect vs what FO partners would expect to see....if we had mapped out and scored our own resource/prospects based on a scoring system such as the ‘UFO Index’ then we’d have a level of security that others would rank our prospects similarly. My thoughts were that this would then have provided even more comfort to PI’s. A null point now, I suppose, but recently came across it and thought it of interest.

88e and our partners/advisors must have performed considerable due diligence on what we suspect we have in the conventional vs what prospective FO partners are looking for ahead of the negotiation/bid process. I’m assuming that’s one of the reasons (in addition to positive dialogue through the discussions) why we are expecting a ‘compelling offer’ for the conventional FO. Other factors will be; the fact that some of the fields are already ‘upgraded’ by 88e as discoveries, size of the prize, easy access to infrastructure and equipment, known costs of extraction, positive political climate, good quality reserves, recent localised success rate on the NS based on new 3D,etc., etc.... One of the metrics that a prospective FO partner might use is the UFO Index and wonder if anyone has seen this highlighted or referenced in any RNS presentations? The Upstream Financial Opportunity Index (UFO) presented here: https://www.ogj.com/articles/print/volume-115/issue-7/special-report-applied-analytics/operators-use-reservoir-metrics-to-select-bid-prospects.html is a system related to a reservoir-quality index that forecasts field well-productivity worldwide The UFO is a non-dimensional grading system with a range of 1 to 5, 5 representing prospects having the highest reservoir-quality, largest potential reserves, lowest finding and development (F&D) costs, and highest profitability. Thanks for any feedback.

Best to review what the experts have to say: ‘After several years of oversupply, the oil and gas industry could very well be moving headlong into a supply crunch.’ Ref PWC: https://www.strategyand.pwc.com/trend/2018-oil-gas

Looking forward to that Joycopter :-)

Certainly, some of it at least, but I want to know what we have and how we can achieve revenue from it - as investors, we should be treated with a modicum of respect and generally kept informed.....just frustrated, is all!!

However Joy, the ‘cat’s been out of the bag’ for a while given that we’ve opened up the well and the market already knows we have pure N2 with Hydrogen and traces of other gases such as Argon - so, in my view, not really a discrete operation anymore.

Should the science behind the project not be communicated to PI’s to establish the rationale behind acquiring more acreage - I know they’ve been doing a great job in securing land for next to nothing but as above, we don’t really know if the geology/science supports further acquisition.

So, if flowed ‘freely’ for 24hrs/day since coming on-line in July (assume start of July), then at $8k per 8hrs flow = $4,608,000 stored in tankers somewhere?...or is well assumed ‘capped’ until the most suitable market is found for it? Still not aware of any competent persons report or resource estimate being provided yet for ‘full field development’ of the Kansas Nitrogen find.

Hope you have a great day too TITD!!

Good to know TITD! Patience is the key.

Where’s TITD!? Love TITD, we need more love on this BB :-) GLA Genuine Holders!!!

Yes, Nwales, similar situation - ave of 34p....

I get it, trillsg and an interesting find! Although it’s more about their understanding of the land auction process that’s got HNR the land for a song rather than accountancy practices - still shows the level of expertise within the business to save that sum on the land purchase. I note the emotive words used in the article but no mention of any royalties/tax they’ll achieve if the land becomes ‘producing’ - not a balanced piece of journalism ...but what else should we expect!?