Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes they have a very long and expensive road ahead of them
I see Geodes has attracted a fan base with his rosy view, this part I agree on, was hoping people would twig to it without a prompt, as I have been saying for some time, the tests were cut short, and it matters
The Initial Production Rate: What It Is, How It Works
The IP, or the initial rate of production has not be determined on the Hickory-1 well for the USFS nor the SMD-B.
Taxi
At this stage it is surprising to see you missing the point about producing and selling
I have a modest hobby farm and produce lambs, when I produce a small runty mis mothered lamb, it costs the same to produce, and it gets sold, but I lose money
Correct brom, and you will note that the video and still picture released by 88e of the flare in action, also showed these in place and in the vertical. whilst the other did not.
Flaring would have been over a short ~14 hr window, quite the coincidence . Possible but as stated a reason to be wary of a new picture source poster, with these missing
Banditputin,
I have to ask why pick this name, in the middle of an unjustified war of aggression, initiated by Putin
Are you sure you are not PRO_S2009, he writes it the same style , and switches from deramp to ramp on command
EG
Buy mode post
Caution ⚠️ 88e about to tank on a duster ⚠️20 Mar 2024 23:41
Don't get sucked into rampy nonsense.
Witnesseth as follows, the fact laid bare for all potential investors to see:
- dismal, dismal track record. All time low sp caused by endless, relentless dilution.
- over 25 bn shares in issue. It gives ukog a run for their money.
- consolidation will happen! We all know what happens when a share consolidates.
- much, much more funding needed.
- a random nonsensical diversification to Africa. No confidence in this flow test whatsoever
- likely this DOES NOT FLOW COMMERCIAL! don't listen to the fools who say otherwise.
- vastly overvalued for what they have in the ground compared to others.
- lower quality oil
Trade by all means. But do not be suckered into holding until results unless you want join the exclusive 88e bagholders club. Talk to shareguru for admission. Requirements are that you must have suffered catastrophic losses and have lost the shirt off your back, yet thick and gullible enough to believe you can buy back your burger van.
Sell mode post
RE: 70 barrels of oil per day (bopd)2 Apr 2024 07:56
Time for BOOMTOWN. WOW 88e finally have oil. Huge noise.
Dont listen to any other noise. 1p+ here we come whoòooosssshhhhh
Then you skite about the success of your deceptions,
"I made big money on 88e. Buy .29, sell .41 on 70bopd news."
Good to know your manipulative style, are you trust worthy, hell no
Fair to conclude you are currently in buy mode on PANR
Chrisev
An emotive and irrational response, shoot the messenger and refuse to open the bills, then everything will be rosy
Sharebel
The credibility of the VOX comes under serious doubt when they are willing write this
"These results complement the deeper BFF reservoir's existing 250 mmboe contingent resource. In total,
88E is targeting 647 mmboe of prospective oil resources at the site."
When that 647 mmboe includes the Kuparuk at 56mmbo which did not even get drilled, and 341 of oil from the BFF, which has already been assessed (IER, by NSAI) at an 88e share of 28mmbo plus 57mmboe NGLs plus gas 72mmboe (all up 157 mmboe. Wowsers the bff has already shrunk by nearly half, and even more if you rightly take the gas off, which would only sell for $6 per boe into the pipeline, if it gets built
88e already know the 647 has shrunk by 184 in the BFF and a further 56 in Kuparuk, all up 240 smaller, but VOX has the bare faced cheek to print a number they already know is wrong
Badputin or should I say Pro_S2009
What ever happened to him, you post in such a similar manner it is remarkable
You are waffling, making no sense, but plenty of noise
People ask why I persist with getting the facts clear, here is an example, there are many, no particular reason to pick this one, other than showing the risks in believing what the pumpers insist is true, subscribing to group think and disregarding any one that disagrees with the prevailing hype
The poster received 17 recommends for this, and the share price was 0.315
15 Apr 2024 06:58
Think Olderwiser needs to see a therapist. I’m not even saying that in jest. If you had listened to that nutter after the 1st flow results you would have missed a 50% rise. And now he’s been up all night talking drivel over something he’s not invested in. You do sometimes worry for mankind.,
“Outstanding results”’commented Gilbert - why? Because it’s simple maths - 70 BOPD from the 1st site plus 50 BOPD from the second site, multiplied by 10 on horizontal drills equals 1200 barrels per day. Multiply that by the current price of oil (which is on the rise) and that gives you 100k per day. Multiply that by 365 and you are delivering 36.5 million revenue per year. The results are there, the resource is commercially viable and that’s undeniable. No one at the beginning was expecting 2 successful tests - they can now sell it or farm a JV, either way the company is worth far more now than it was before the flow tests.
Badputin
The evidence of your now repeated lie is on the Mangrove short chart trend line, going flat for more than 6 months.
Despite your repeated protestations, that is not an uptrend
I have experienced your particular brand of dishonest often enough to know, you will just replace your original lies with brand new one as you get unraveled, in this world it takes all sorts, thats not going to change
Badputin
As per usual your words contain no fact, just the opinion of a pump exponent, I suspect troubled by a falling share price
Please disregard all of my posts if it suits you, in fact they are not written for the pump brigade, more for the real investors, who seek a more genuine POV than the pumpers provide
Triumph1
After discarding the personal attacks, there is only one point remaining. That being the significant delay to the testing schedule 88e advised. Following this and adjusting for known slippage they would indeed have been in the 2 day pressure recovery phase. In which the well is shut in, again a reasonable forecast
Investor 111
That is a perception a group of like minded individuals, that have been pumping 88e have sought to create, it appears with some effect
Disappointing, read the content of my posts and see where you find fault, no prediction in life is ever perfect, but on balance what I have highlighted has been born out.
Always happy to discuss further in a civil manner, as an aside how would you react to a campaign of character assassination, in response to reasonable argument. I tend to hold my ground in response to intimidatory tactics
Yeah right
Are you asking me to take your word on it
A pump and dump exponent of ill repute
Stas20
That was a whole lot of nothing but personal attack, but there two specifics to address
"Olderwiser has been shown to relay false information on several occasions, notably how when the photo of the gas flare appeared, posted by a respectable member of another forum, olderwiser automatically dismissed it as fake with zero evidence. Olderwiser was also attempting to convince everyone that the upper SFS was a complete duster because of how some RNS's were worded.. If that is not disruptive, abrasive and ultimately WRONG, then what is? "
Re flare
I was suspicious of the flare picture, so stated it LOOKED fake, I then gave a reason, that being the large sandhoppers were strangely missing, when compared to other pictures of the site, taken by the poster that had been maintaining coverage.
Even now it is debatable. it was a new poster that put up the picture, all of the other pictures, released by 88e of the actual flare also clearly showed the sand hoppers in place. Making it a remarkable co incidence that this one random posters picture, captured in the 14 hours of potential flaring, did not display the sand hoppers, while all the others did
It that proves to be an error, it was a reasonable one
Reading and interpreting 88e's earlier RNS , to the results RNS, as indicating the USFS result was likely to be weak, has in fact turned out to be an accurate prediction. It is highly gassed and the test was cut short after a calculated oil cut period of only 14 hrs in which it produced 24.8 barrels of oil, but never got to a announceable sustainable flow to report
Resolution 4 seeks Shareholder approval to establish and maintain an employee
incentive performance rights plan (Plan) to provide ongoing incentives to
Directors, executives and employees of the Company and for the issue of up to a
maximum of 2,472,542,056 Performance Rights (10% of the existing Shares issued
by the Company) under the Plan in accordance with Listing Rule 7.2 (Exception
13(b)).
Ad hominem (Latin for 'to the person'), short for argumentum ad hominem, refers to several types of arguments that are fallacious. Typically this term refers to a rhetorical strategy where the speaker attacks the character, motive, or some other attribute of the person making an argument rather than attacking the substance of the argument itself. This avoids genuine debate by creating a personal attack as a diversion
This is what the pump brigade have ramped up the intensity of, then ask yourself why
Genuine debate is stifled, such as below
Both flow tests from a rational POV have been disappointing, the market has reacted accordingly, despite an exceptional job in polishing the turd by 88e
The duration of the oil cut phase in both tests, failed to reach a point of sustainable flow, before being prematurely terminated
14 to 16 hrs of oil cut is still in an unstable mode where the flow of hydrocarbons is influenced by the initial fracturing, where on each fracture plain, rock has literally been split, so releasing the contents of each split pore. This will flow to surface as the injected water used to fracture the rock returns, it is not representative of a flow from the rock matrix itself.
That comes later as the rock itself allows its contents to very pass through it highly resistive structure, then it becomes a sustainable flow, the object of every flow test. 88e would shout sustained flow from the roof tops had it been achieved, and the numbers looked good. The market would have recognized it
Those that use the initial disturbed flow period to assess future sustainable flows, are going to be disappointed
That said even in this unstable flow period the results were poor, 4 barrels in 16 hours is never going to be commercial
The USFS has a better, but still poor flow rate, but also a very high co production of gas, that will be a long term problem
It turns out to have been a very poor choice by 88e to rush these tests and finish with insufficient flow test time in the critical phase of oil cut to reach a sustained flow, (The season was long enough, they were late to start)
Now they go into their next capital raise with an incomplete result, investors will be asked for funds, on 24.8 plus 4 barrels of oil production, and spun up numbers like the 70 bopd, based on a 30 minute surge of 1.55 bbls, and an equally spun, unspecified time period, 50 bopd flow rate from the SMDB, from it total 16 hrs production, in which 4 barrels are produced
Ask your self this Dreadman, would you prefer to have known how bad these results really are, before the market woke up too it, or after
Weigh that in your mind a little before asking to fly only with a flock, that only paint rosy pictures to induce buying of their shares, at artificially high hype pricing
No putin, you cannot deny there has been no increase in the Mangrove short since September 2023, which makes you a bare faced liar, as quoted
Weasel words wont change any of that
As to the other point, if 88e is so highly valued, why is the market cap so low
Could it be the small amount of questionable resource, amazing though it is that on a per barrel basis, the hype value still sticks, after all these disappointments
Marlbs
Positively differentiating is IMO pure spin, read it differently, positively as in certainly differentiating
As the exceptionally high gas rates is a negative, and that is what drives the natural flow. Apart from the production costs it generates, a high gas rate means there is less oil in the rock pores, as gas occupies space at these levels, unlikely to be all associated gas that exsolves from oil at High GORs
Marlbs
No it is the same if not more, the fractures are still needed at the same scale, but the very high gas rates that give the natural lift are a problem. This gas must be reinjected, PANR have budgeted 1 reinjection well for every 3 producers, based on the Alkaid 2 ZOI reservoir
FYI where natural flow occurred for more than 2 months, not the few days of the USFS.
The measured GOR there was in the range of 12k to 14k/barrel, much lower than the USFSwhere on the available numbers it showed 58k/barrel. on its very short flow period, so take that number with caution. Eventually 88e will have to fessup on that post PVT analysis
If it finishes up at 1 to 1 GOR of 36k/barrel, that adds $15m to every production well