The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Just too many shares issued for this to run much further. Option holders bound to excise on good flow results and mm do not have capacity to take large amount of shares on their books. MM will widen spread and limit dealing sizes. Who wants to be left holding with consolidation round the corner - have to be at least 100-1.
Lots has changed. No interest from outside parties, further cash injection needed going forward. Recent cash raise with the excess going in board salaries. They have set themselves up very nicely for a couple of years at the shareholders expense. Nice if you can get it.
Debt financing will cost a lot. Just look where interest rates are. Looking at mid teens and then they need cash to meet interest payments. Where's that coming from- shareholders on more equity issuance.
The board has now lost all creditability , and the only way out is for new management team to see this going forward.
The move to Houston is to try and gain some interest in this company from the oil world. No one interested in a farm out, funding remains biggest problem and as said board creditability all but lost. Could turn around but will take years and deep pockets but not with this board. Intuitional shareholders will be forced to cut and after this they will never get involved again with any fund raising. The only way out is for private investment which means giving a ton away. Shame but when run by self interested parties they only look after themselves. What about big pay cuts? You just watch they will now be awarding themselves big share options.
This was for the drilling permits awaiting to be issued. So Alaska wants more funds and look to oil companies to pay. The only companies drilling new wells in this area are 88 and pan. It will still costs millions to go into production so all these numbers going around are not realistic in the current climate. Also it takes min 5years to get an oil filed into production with all the infrastructure needed. So anyone buying the field will look at the reserves and the cost to production. Then you have the polar bear lobby and other people who will object at ever stage. Its going to be a long drawn out process to get anywhere near the valuations being talked about.
cant you read. Did not say oil companies are shutting down. They are using cash to invest in other energies. So any profits will not go into new wells . Just look at the oil companies statements- sorry you cant read
]i
How many take on the Government and win. With oil prices set to rise probably into the mid 100's do you expect the government to sit back and let it happen. The oil lobby is very strong and I don't think a few polar bears will stop future drilling. They can always be accommodated . Alaska is a very big place.
Share price does the same as 88E. moves up ahead of any results that always come out with major questions. This share will go no where until next drill is done and the oil is shown to flow and be commercial. This is months away so expect to see fall back to the mid 20's.
That is the problem Ecuagold. They have spent millions and several drills, with massive share issuance and we still have not hit any major oil play. Still will take funding and each time 88 get less on any farm out deal. could well work out but cant see anything major to move the sp for some time out. Thats why I have called it a day.
its not a ramp, just look at the fundamentals - they speak for themselves. Just stating my switch into something with better prospects. As a new comer to this board you should understand the difference between ramping shares and looking for value plays.
after being in this since the early days and traded it around, with last big holding sold on the last run up have now cleared out a block of 3m today. but Still retain 1m for nothing just in case. Original holding at one stage got to 23m shares. Has been generally a disappointing play but have come out with well over 6 figures profit. with 12 b shares outstanding this has been struggling and will probably continue to struggle going forward. Have increased my holding in PAN by over 100k shares today as it looks a more promising play over the coming months. Like the idea they can also operate all the year round against 88 that has small window each year. Shame but time to move on. Good luck to current shareholders.
This all looks good but it comes down to funding and how many more shares do they issue, as this will never attract the major investors . Billions of shares in issuance never abodes well . further 500m issued today on back of options. This is one point that makes the whole company toxic for many. Remember we don't have any where the depth of market making capacity as they can not take on much risk, hence price spreads and lack of pricing went market moves fast. Soon you will find prices quoted in smaller share lots pp on the bid side.
Could well be an amalgamation with other smaller companies in the area to form a larger oil company thereby providing the resources to develop all the potential oil fields for production. This would leave 88e open to major share consolidation as with the others and probably a rights issue at the same time to fund the development. Thereby doing away with this continue call for funding, farm outs ( giving half away each drill) and further share issuance. This could result in a major oil player for the region and give shareholders a very large upside. Room for thought!
Remember IG TOOK SOME 900 odd names off their trading list and now require 100% margin for any stocks traded. So you need to put up the cash and watch it as should it fall further funds would be needed or you get closed out. Also you have to sign agreement for them to hold your funds and remember the funds are not covered by FCA.