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Worth noting
There are two issues today, one for the Namibian farm in partner Monitor, and the other the capital raise, all raised at .003c AU, in total 3,768,609385 shares added to the market today
https://clients3.weblink.com.au/pdf/88E/02798807.pdf
Number of +securities proposed to be issued
3,291,974,839
https://clients3.weblink.com.au/pdf/88E/02798809.pdf
Number of +securities proposed to be issued
476,634,546
7C.1 Proposed +issue date
1/5/2024
10:19
Copy paste of my 88e screen data at close, my platform sums both trading floors ASX and Cboe
Open
$0.003
Prev. Close
$0.003
Volume
37.34M
PE Ratio
0
Market Cap (M)
75.37
52 Week Range
$0.003 - $0.009
VWAP
0.00336
Dividend
$0.00
Dividend %
0%
Intraday Range
$0.003 - $0.004
Taxi
What I am pointing out, is the final last second trade is unusual, and in no way fairly represents the days activity.
Further I provide evidence that this trading pattern, has been used as a tool for manipulation by dishonest parties, in other situations, I have know way of establishing what has caused this unusual trade
Beverlybeaver
If you look at the close, its a weird one, all day no transactions at .004c, then a spike at the last second for an all day high at the close.
37m shares traded at a VWAP of .00336
Remember Alexdelarge (Gallagher)
Sec. & Exch. Comm'n v. Gallagher, 21-cv-8739 (PKC), 4-5 (S.D.N.Y. Sep. 26, 2023) (“B. Market Manipulation Allegations. The SEC also alleges that Gallagher engaged in multiple instances of manipulative trading in connection with at least two issuers, SPOM and BZWR. Specifically, it alleges that he “plac[ed] multiple buy orders at the end of the trading day to raise the stocks' price (‘marking the close') with the intent to mislead the public about the trajectory of the stocks' price and induce others to buy the stocks.” (Id. ¶ 9.) “Marking the close” refers to the practice of buying or selling stocks near the close of trading to influence the closing price of a stock.”)
https://casetext.com/case/sec-exch-commn-v-gallagher-10
Sharebel
You keep repeating your fairy tales, populated with devious shorts, manipulating MMs, and any other crackpot conspiracy theory you can manufacture.
Reality is the share has dropped on poor flow results, and low cash, after being hyped to the moon, by posters exactly like yourself
Taxi
Apply a different logic, if you have a losing trade, and someone offers you a deal to replace all your losing shares with cheaper ones, would you take it. and sell your more expensive ones.
The margin between the cheaper shares and what the market pays for the same number is yours. You have not got all your losses back, but you have got some cash back and have the same number of shares
Sharebel
Take your ramping hat off, and put on your thinking cap.
It does not matter what price they paid, that was a different mistake. This is their opportunity to recover a little of that, by playing the margin between the new issue price they have secured, and the market price. These people are more rational, and experienced than the average punter, you so try to play, with your MMs and conspiracy theories
Sharebel
Just rubbish from the resident pumper. The Sophs are more than happy with small margins, its their model, they play several a week, its not like 88e is the only game in town for them.
You can be sure any that got trapped in the previous raises are not happy
Sharebel
It is as simple as pie, some investor are selling and moving on
The sophs who already held shares, know they have an allocation coming, and are selling their current holdings, for whatever they can get above the issue price of .0016p. Then pocketing the difference well in advance of the rest of the herd of SOPHs arriving next week
Gemstar 07:09
You are getting worse
After the $120m is spent, PANR will be in production, with its own hot tap connection into the TAPs pipeline, it own oil and NGL processing plant, running 3 production wells.
Based on the latest SMDB flow results, and SLB modelling, generating sufficient free cash to self fund up to the 200,000 barrels a day of production, the full fields development is targeting
Go and research all the steps and detail for yourself, but answer this, what value do you think investing the money will have on the share price. Remember the target is market recognition of $5 to $10 per barrel
It is not in the potential dead end stage of exploration, they have found it, flowed it and assessed it as commercial, so now brining it into production
PS In case you are unaware the CB loan can be paid in shares or cash at PANRs discretion, so paying in shares is no drama against the rising share value
Ausnsw.
Yes I knew that, courageous men that laid down their lives, for a greater cause, in the ultimate act of self sacrifice.
A time for reflection for sure, selfless acts deserve our respect
Madenglish
So actively encouraging the punters to put their collective heads in the sand, block out the contrarian opinions, dont read books, only listen to the pumpers, especially the ones that were on full throttle at .004 and above
Skippy
To give some thing to compare with, PANR in their 5000 ft multi stage fracked flow test of the ALK 2 ZOI
After 30 days the flow rates were, sustained, stable, had peaked and were in decline.
Note the frack fluid recovery percentage is 40%, much less than the 70% 88e state in their RNS was likely to lead to an oil flow increase as more frack fluid returned
On this comparison 88e with 70% recovered frack water are fluffing it to infer oil flow is likely to improve, when PANR has the evidence that oil flow peaked well before 40%
Evidential quotes to validate the above
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/x8ezopx
"Sustained daily production over more than the last 30 days has averaged over 500 barrels per day of hydrocarbon liquids, "
"Importantly, it is estimated that the well is still less than 40% of the way through cleanup phase, so potential exists for these rates to further improve".
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/ryed58w
"We are less than 40% through the recovery of the frack fluid (well cleanup)"
Skippy
I dont know where to go next, they flowed 4 barrels, in the 16hrs they flowed oil, you are arguing this is not the key data
Once flow is sustainable, How much oil a well flows over time is the most meaningful data point in any flow test.
Peaks and troughs are just data noise, sustained average flow is what counts
Skippy
4 barrels is the actual flow collected over the 16 hours in which oil was flowing, you can extrapolate that out to 6bopd, it is still poor
Skippy you are arguing that, the purpose of the flow test, was not to produce a viable flow
88es favorite pump site next investors even put out their expectations, under 50 was the bear case, which makes 4 pretty sick
Skippy
The purpose of a flow test is to establish a sustainable flow, so the producibility can be known, so the viability can be calculated
Skippy
Thats a good example, when you look really hard, it actually means nothing
Mikee
I think you just worked it out,
For evil to flourish, good men need do nothing
Skippy
Entirely based in data, the 4 barrels from the SMDB and the 24.8 from the USFS, with 1.45mcft of gas
These are poor numbers, and even poorer for the brevity of the oil cut periods of 16 and 14 hours
The 70% frack water recovery means these flow tests are well into normalizing, the decisions to stop before achieving sustainable flow, answers every question an investor needs to know