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Ssccss
It is very unlikely 88 management will try to clarify the 4 barrels because in doing so they would have to confirm that is exactly what the figure is, and by extension highlighting the true result of the 'successful' flow test.
Stas, time for a new career in something that isnt gambling on AIM? Your posts tried to draw naive investors in and many warned against, yet you continued regardless.
SP now nearly at the 0.2 I predicted just a week or so ago. QED.
0.1 soon (and rapidly)
AIMHO.
Stas & MysticMeg
Can you provide some wisdom on why 88's 'discoveries' are sending the share price in an express elevator to 0.1p please, as I predicted. Is it perhaps because the market sees 24 barrels and 4 barrels of oil after multiple millions spent on testing as total a downdip dud?
This has sub 0.05p and one of the biggest AIM capital raise dilutions ever seen written all over it unfortunately.
Just shy of 29 barrels of oil across 2 flowtests, millions of dollars spent, and a market that sees straight through the spin put on the rns. The market has simply spoken, and it calls this as a dud.
Where's all the money coming from now? Banks...? Nope. Vendor finance...? Nope. Debt...? Nope. Equity/Capital raise...? Bingo.
For 88 to get anywhere they now have to go out to the market with a bowl. The market knows this. How much for a lateral and longer term flow test... $20-30m? Approx. Then appraisals. G&A. New pads. The list is endless. Dont forget 88s other territory liabilities. Alaska is a dead weight now. The rns hasnt managed to convince the AIM.
Truly, anyone reading this mornings rns and leaping for joy shouldnt be investing and if they are they should be wary of listening to anyone who was pumping this, because the proof is in the pudding... the market cap is lower now than it was even before the flow tests. Repeat... lower than *before* the flow tests.
It will go to 0.2 and then to 0.1
Imho its very nearly the end of the road in Alaska for 88. The dilution here will be beyond anything anyone has ever seen, if 88 bod even attempt it.
Playing out in real time.
Shame.
Stats, Mysticmeg
You both appear to have an overwhelming lack of understanding about both the contents of the recent 88 rns, and also the requirements of oil companies requirements in order to progress to FID.
88 story has played out exactly as many people warned. And yet here you are, trying to make out that this duck is not a duck when everything about it says duck. Its the most duck-like duck out there.
Impressive that you still cant see it.
SP... nearly at the 0.2p I predicted but a day or so ago.
There we have it.
Its over. And only going to get worse as folk realise that 4 barrels of oil wont keep any candles burning.
Is what it is.
Miner4 @ 12.03
Yes. Clearly. Read my posts. It is happening exactly as predicted. The bottom is and will drop out here. This rns was a terrible result. The 88 pump ran out of steam 2yrs ago and now it seems to follow logic and the data. And the data was not good no matter how the rns read.
I wish it was good, however, as it would be best for panr if it was a corker. But panr already flowed the smd for 5 days choked back and had sustained flow. 88 let it boom and it flowed back a tiny bit of oil and mostly water. It was not a success. If you cannot see this then there is no helping you.
Reread the rns. Then ask where the capital for any further appraisal is coming from. Or even for G&A.... Exactly. And at this stage that will all be equity. Its over, basically. Under 0.1p sp and 100bn shares circulating before anyone can say ping.
As expected.
This is what happens when poor downdip geology mixed with dmax and 20bn shares comes home to roost. A dribble of oil and a window-dressed rns trying to paint 4 barrels of oil in the tank as some kind of success? Bizarre to say the least. The writing was on the wall.
PANR are 5 years ahead and pending finance. PANR is simply a much better as the investment case here in 88 makes zero sense. Folk tried to warn but most ignored. Shame. But thats the market. Market (and data) decides value.
Panr has some hurdles still... despite 4bn barrels oil equivalent from SLB and NSAI. So anyone looking at this 88 clanger really needs to clue themselves up to what 100 billion share or more after dilution will look like here. Wont be pretty.
As I have said numerous times, this goes to .2p anf then to .1p or lower as now they will need stacks of cash to continue to spin out rns.
Its essentially game over.
Sorry to say.
AIMHO.
Sorry to all those who were taken in by MysticMeg and Stas & co.
--
RE: 250M BasinToday 06:48
Here is your post from the other day, Mystic -
"MysticMacOffcl
Pennyland
Today 13:31 6th April
I'm gonna laugh so hard when this goes above a penny (or 2) this month. Especially knowing Older and Scott spent years trying to tell us otherwise..."
...Its not going to age well. 4 barrels of oil in total from this recent test of the SMB-d. 24 barrels from the previous. This is actually more of a disaster than I had previously anticipated. I would much rather the SMD flowed well but Dmax has spoken. This is in essence a duster, and beyond a possible small spike when the market opens where some gullible PIs will get trapped the SP will be, as predicted, less than 0.2p by month end imo. And then when the reality sets in regarding dilution for new drilling/appraisal it will drop to less than 0.1p.
So many folk tried to warn you. But there we go.
Good luck.
Here is your post from the other day, Mystic -
"MysticMacOffcl
Pennyland
Today 13:31 6th April
I'm gonna laugh so hard when this goes above a penny (or 2) this month. Especially knowing Older and Scott spent years trying to tell us otherwise..."
...Its not going to age well. 4 barrels of oil in total from this recent test of the SMB-d. 24 barrels from the previous. This is actually more of a disaster than I had previously anticipated. I would much rather the SMD flowed well but Dmax has spoken. This is in essence a duster, and beyond a possible small spike when the market opens where some gullible PIs will get trapped the SP will be, as predicted, less than 0.2p by month end imo. And then when the reality sets in regarding dilution for new drilling/appraisal it will drop to less than 0.1p.
So many folk tried to warn you. But there we go.
Good luck.
MysticMacOffcl
Posts: 244
Price: 0.315
Strong Buy
"NoMunnie
88 Energy have oil. They will sell that oil. After we find out the amount from both Wells, 88 will give the shareholders a plan of action, then we will understand the value it's being sold it. Plain and simple, nothing more about it."
-----
MysticMeg... No, 88 dont have any oil to sell except for 24 barrels and a LOT of useless gas. In fact all 88 have is a very poor flow test which was full throttle and window dressed to look decent, but in reality is as bad as the market is making it out to be, hence the current bid. If SD flows at all then again it will be many bag holders spiked and an almighty sell off before anyone can even blink. What are 88 going to do about laterals or appraisal drilling? What cash? Where from? I can already tell you... PIs, capital raise. This stock will be 0.1p or lower before long. Its a given in anyones book who understands these things
Its not a guess, its simple maths and market mechanics which will run this down. Heck, 88 is lower today that a few months ago... why... because this recent flow test was dire, and dire is even being generous.
But, keep trying to convince folk that its investable. By end of april you will see the reality of tight oil in these poor downdip reservoirs playing out in real time.
It wont be pretty.
By end of April the reality will be setting in here that its non commercial and the sell off pending further dilution will have happened. 0.1 - 0.2 maximum, and thats before any major capital raise.
You'll see.
Seems no one has learned anything from Older or Scot or me.
Unfortunately most will be bag holding by end of April. You'll see soon enough. The SFS here has flowed almost zilch with essentially drip condensate... 24 barrels in 4 days is painful. SMD may get a dribble but the sell down will be absolutely brutal as bag holders from the past AS WELL AS the last few weeks' pump n dump try and escape on any positive news. And then what... dilution dilution dilution is all that awaits. Its going to be a slaughter, honestly. All being lead like donkeys by MysticMeg and Stas et al and the rest of the pumpers.
Dont say you were not warned well ahead of time.
Wait and see.
Already 0.31 bid on 'successful flow'. Writing is unfortunately on the wall.
I have been involved in some of the most pressured short squeezes on both sides of the pond over the last 19 years, and I can tell you this now - Mangrove are in the process of. Margin will be steep and its as good as lined up to be cranked.
In my humble opinion... A squeeze is IN MOTION at present. Quietly trying to keep a lid on it.
But what is THAT i see... an ENORMOUS post close trade printed. What COULD it be, I wonder...??
I am happy to buy at the bell.
I suggest others dyor and buy this stock.
Its very much on. To miss this would be sacrilegeous.
AIMHO (usually correct, sometimes not).
Will be enjoyable.
See you all at 07.59 british time.
'Strongest Buy' possible.
Https://shorteurope.com/history_player.php?player=THE%20MANGROVE%20PARTNERS%20MASTER%20FUND%20LTD.&land=united_kingdom#Pantheon%20Resources%20Plc
Says end price 0.321p
Perhaps at least begun to close... Usually end price is blank.
If so they have some work to do!
Running scared, Id say. Big big losses.
Olderwiser, the answer to the riddle is simple... 88 drilled into a rare earth precipitate of time crystals that acted as a sort of seal over the SFS. These time crystal deposits, sometimes referred to as time horizons, can speed up time but leave oil flow unaffected. Thus rendering an 88hr period at 42bopd with only 25 barrels of oil in total. Its not hard. It doesnt affect commerciality.
All 88 have to do is rejig the rns and calibrate it to account for the obvious crystal data.
You are welcome.
Mystic...
88 already did their very best to dress up the rns to make it appear like a success result but the market only took it a little above current levels. Announcing that the SMD flowed is more or less priced in as panr already flowed it, so 88 likely will get some oil. But dont forget that any manner of operational issues can and do occur.
Difficulty for 88 is the acreage is down dip and panr own the majority of the updip and more available resource.
Even on a positive flow from SMD 88 spikely doesnt do all that much and a positive result certainly is not going to launch it x3. And then when reality hits that this is the case the bags will be held while all the promotes try to convince everyone that the sp will recover soon and some 'buyer will want to take over the company' or something equally silly.
Anyway, its just a reality that holders will encounter very soon. But best of luck. I hope you get your price but it just isnt going to pan out that way imho
Your post, for future reference:
MysticMacOffcl
Pennyland
Today 13:31 6th April
I'm gonna laugh so hard when this goes above a penny (or 2) this month. Especially knowing Older and Scott spent years trying to tell us otherwise...
'Keeping the faith'... goodness. Faith is based on a belief without any evidence. Science is based on facts. So the header of this thread is all that is accurate about most of the posts.
88 produced less than 25 barrels of oil over circa 3.5 days. Peak flow and bopd is a very loose term that can be used to dress up an rns to look better than it is. At no point has the commerciality of this horizon been established. And with 25 barrels over 3 days it is certainly not, based on what information was given.
Even if SMDb flows it wont shift the sp significantly.
First, its not commercial (clear as day)
Second, the rns has failed to give a truly reflective picture of the rates. As usual.
Third, 88 would in any case have to raise an incredible amount of capital via equity, or other finance options in order to come back to even begin to prove a commercial find and in doing so dilute all existing holders to smithereens in the process.
Fifth, some posters talk about valuations based on shares x mc and compare that to panr, and then consolidation values.. without realising the panr have enormous booked contingent resources which dwarf 10:1 or more 88s.
Sixth, 88 reservoirs are very tight in a down dip position much increased dmax and that in itself presents a major impediment to realistic progress without needing some kind of engineering miracle to get decent flow... at enormous preventative cost.
Seventh... ad nauseum, 88 are at least 3-5 years behind panr in this project and in the extremely unlikley event that they try to progress the project the amount of capital needed wouldnt bear thinking about!
And finally, the market is keeping this below 0.35 because it knows that its not viable. And any next mini push on a positive SMDb result will be the final hoorah and then it will be swift and brutally sold down.
Panr on the other hand is on the very brink of financing and booking increased resources. The 88 well data will be very helpful. And free.
Im sorry in advance for anyone being taken in here by the share promoters who dont or wont realise all of the above is just cold hard facts.
This will be 0.1p before start of Q4 almost guatanteed.
All IMHO.
Unsurprisingly this is being sold off. What a surprise...
Wheres Stas and Mystic with their infinite wisdom.
20 billion shares.
Minimal oil.
Huge capital raise coming.
0.25 soon.
Reality setting in...
Stas20...
When a company has >20bn shares circulating it is because they are unsuccessful. Valuations dont matter at this point. Its a dumpster fire. All profits have gone over to panr - look at the comparative trade prices. Sells here, same value buys at panr. Hence 88 down and panr up. In the simplest of terms.
Proofs in the pudding and otc are going to shred this. Last minute to escape...
These are mostly sells and the OTC will continue to batter this share price and likely hammer it all the way back to .25
This is the reality of 25 barrels of tight oil and 20 billion shares in issue.
Hold on to your hats. Wont be pretty.
Folk might want to look at the values of 88e sells and panr buys... startling similarities.
88 down 10% panr up 5% as a result.
Seems like an exodus from 88e. Which would make sense given panr are about to receive a huge resource upgrade.