Member Info for muscat

Can't blame you. It all depends upon how many you already hold and how much money you have invested. I took my full amount only as I am already holding a very large chunk of stock. I think this will be the lows we see on this stock.

What about comm cost?

take out price is 55p

before rights issue trading .0109-.0120.ish Markets down hundreds of points since then. Rights will be taken up.

DW has given shareholders an opportunity to buy cheap stock as a repayment for their support over the last couple of years. The fact that current market conditions are choppy is not his fault. I think this is the last chance to get in cheap as by xmas you could will be on the fast track to major recovery in this stock. Obviously talking from a long position, but would not be long if I did not believe the story. Finally what else in this market currently has such good potential apart from gold and silver.

my first quiet day for weeks so I have reappraised my holdings in 88. Having put the all the variables in my spread sheet and calculated the risk reward , i am taking up all my rights. I think this is a opportunity not to be missed at this stage of the companies development. We have moved on from last year into a new phase which I feel will bring in rewards over the next 12 months or so. Having been in since the early days, been through the up and downs my confidence is much more positive today than at any other time. Wish you all well on your own decisions.

Thats how they show rights issues, it happens all the time

just what I said previously

They can't take the price down otherwise if it was marked below 1p who would take up the rights. What could happen is after the deal is done then you could see a price move down in line with the general market mood currently. I expect the market to be .090-.001p to stop flow back. Now you clever ones don't come back and say they could take the price lower now- I know that but in the real world at .01p is it worth it.pp with farm out on the table.

Thinking this through. By doing a rights issue DW has gone along with previous comments by shareholders not having opportunity to take place in placements. I expect he has this rights issue covered by others ie previous placement takers who will take up any balance not taken up.

how do you know the rights are not unwritten?

They are very big company and as such they charge alot of money for the data processing. Also very slow on getting jobs done - typical of large companies. If DW is using them he could have got the process for less than a third of the price and much quicker service I expect.

Brombarb- they don't have the 3D tech. to date so well behind the curve on this one. This company is competing against the previous one mentioned.

mike mikle
-I expect their virtual data shows the info as we see it similar on the presentation- just flat 2d pictures. This new system shows 3D ( as new games are) it appears you are actually underground looking at the subsurface terrain. Just in passing some time ago in the far east a ship was going the traditional sub sea seismic they hit a gas bubble and it blow up the whole ship killing everyone on board. With this new tech it would have identified the gas bubble from previous data. I am not a geologist or expert but this new 3D tech can be accessed from your own computer anywhere in the world even via your ipad on site As said this will have major applications across the oil sector and probably the mining sector as a whole.

For those interested on data rooms. Olympia london has a trade show called PETEX on 27-29 nov ( correction to my previous statement). This is latest developments in global exploration, development, production and subsurface technology. Hear about the energy outlook for 2018 and beyond. With virtual data rooms interested parties can see the info on line. This can be monitored so you know who is really interested by the way they access the info and those who just want info because they have adjoining blocks and want to know what you know. Its costs effective and when you have certain interest they go over to physical data rooms. The reason for the virtual is to save time as otherwise you could have a stream of visitors to your offices looking at your data. Also you can have secured access to the virtual data. At this show will be launched for the first time a new system thats shows in 3D subsurface structures so the oil men can actually be below ground looking at the geology of the area. This is far reaching technology for the whole oil industry. Only one company has this ability to date and I have heard that many oil companies around the world are looking very closely at this new technology. Shame 88e has not used this new tech for their data.

I should wait a bit as they are bring out a superior product due to be launched at the London oil conference later this month.

moneyhawk- if you want to know all about data rooms look at Zebradata EzDataRoom web site -bye the way one of two companies who can supply the data in computer format.

It is probably for convenience more than anything where they set up. In fact you don't really need a data room as all the information on sub surface tests can be put onto a computer program and looked at anywhere in the world. These programs are very sophisticated and I know of only two companies in the world that have this ability.

I was around in the days of Tangiers Pet. and first meet DW shortly after he was appointed. I introduced him to various interested parties for funds at that time.

Well to all those who were complaining about the placements and not being able to buy now you have your chance. That's why DW has opened it up to shareholders. Don't see more than 50% taking up the rights and after the board take theirs the balance will be with the underwriters. So they will hit the bid as soon as it gets above rights price. On the other hand if taken up fully they will mark the bid price below 1p to stop flow back, until some positive news is forthcoming and that could be 3/6 mths away.