Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Gam2
Did you miss the post that showed these numbers are from 88e's RNS's
To surmise then, there are now two investors that have confirmed, they have no interest in how much oil 88e have estimated the SMDB will hold, they prefer to disregard this when choosing to invest or not
MMO
That is the most unusual attitude I have ever come across, you give no credence to what 88e has estimated as the reward for success.
You just decided to invest with no idea what you invested in
MMO
Since the numbers come directly from the 88e RNS,s
Your are saying 88e are guessing, are you working something out ?
MMO
The fact you have no interest in discussing what 88e's numbers mean, does not mean no one else is. These would be good things to have a handle on for a genuine long term investor
Taxi
The net pay is post drilling of Hickory 1
Given these are the companies current estimates on the volumetrics, it is all there is to work with
I did expect an up dated number post 3D acquisition, but no cigar, so 88e must be content with these
MMO
In the interest of the genuine investors here, I did a little digging on the SMDB being flow tested currently
From the facts, all to be found in
https://clients3.weblink.com.au/pdf/88E/02655754.pdf
Shelf Margin Delta (SMD A, B & C) best estimate 140 m barrels net to 88e
(Based on a reinterpretation of a 2d data set, no changes made post acquisition of 3D data)
https://clients3.weblink.com.au/pdf/88E/02612833.pdf
SMD phased development study completed
SMDA 126 producing wells
SMDB 80 producing wells
SMDC 70 producing wells
All up 276 wells for the A +B +C, which makes the 80 in SMDB 29% of the total
So how big is the SMDB estimate, 29% of the 140 total estimated by 88e, round that up to 41m barrels
Should 88e have complete success they will prove up 41 m barrels
Not such a surprise when the net pay is considered
Gross pay in the entire SMDs A + B+ C is healthy ~540 ft
Net pay (the bit the produces oil) is only ~95ft
29% of 95 ft is ~ 28 ft of net pay in the SMDB reservoir
88e will aim to fracture stimulate into as much of this 28ft of pay distributed over the SMDs assumed (540 x 29%) gross pay of 157 ft. Quite achievable as fracture heights routinely propagate over 200 ft from the perforated interval (the 20ft perforated interval USFS case)
MMO
I look forward to the day a conversation about oil occurs here, the pumpers are hell bent on suppressing it ATM
Never mind I have met tougher audiences
Did you ever come up with an answer to the riddle, how does an average of 42 bopd only produce 24.8 barrels
Sorry Taxi
You have showed some curiosity about your investments prospects, that makes you an outcast
These pumpers seem terrified at the prospect of knowledge falling into investors hands
In explorers leases are also assets, at different stages of maturity and risk
Prospective barrels are very high risk and very low value
Contingent barrels are still high risk, but going up the value chain, as they have actually been discovered
Reserves are low risk and high relative value
There are no fixed constants, only the valuations against similar assets, for location, economics, political risk, management, financing and so on. its the why of the choice to value against neighboring plays. Is it better or worse than similar comparators
Thats the big picture, but on a finer level, its about being able to read the likely hood of success from what is already known
Taxi
PE is irrelevant in a pre revenue company, valuation is on the value of its real assets, (not book assets), and the probability its activities will add to that value
MMO a classic from the pumper pack, only contribution is name calling, like some spoilt child
How about a debate on whether 24.8 barrels over 111 hrs of flow back is a success.
Didnt age well
They are aging very well indeed, it looks just like the failure I predicted
24.8 barrels over a 111 hr flowback
Unbalanced
Did you also feel the same about 88e's peak in 2021, when the pumpers were screaming buy, what was that now, around 4.5p from memory, and now .32p, is that only 7% of its hype value
COIO
Certainly not the only reason, one of many, most of which 88e created, 25 billion shares in an unfocused portfolio of capital hungry dice rolls
The pump is still running by the way, it just wont prime this time
I get the high risk nature of oil exploration, but believe investors are owed straight bat information from the company, tell it as is actually is, so people can weigh the risks objectively
Stas20
Take a more logical stance and it is obvious what is happening here
The trade has historically been to pump this share in a co ordinated campaign, mugs arrive believe the dominant chorus of disinformation, buy the pumpers shares and then suffer losses. While the pumper bank good profit from their scheme.
My information and analysis has disrupted the dominance of the pumper cohorts uber positive media saturation,
So of course there will be a mass reaction against it, by both the pumpers and the newly indoctrinated, with personal attacks and baseless speculation on motivation.
The giant tell here is, there is no meaningful debate offered to anyone that post a sensible counter view
Thats how pump and dump schemes function, you have been around, you know this
None of those Stas20
Just a rational investor with oil industry experience, and a low tolerance for misinformation
Can you identify a single reason I would not want a good result in the SMDB, as it will prove up PANRs northern up dip reservoir
Hickory snuggled right on the borderline is a perfect location to prove up PANR resources all the way to it
Good on you Brom, keep them honest, 42 bopd average is more meaningful than a short peak flow, using peak is about as sane as using the low of 10 bopd
It will be difficult to get a direct comparison, as PANR restricted flow to minimize gas flashing in the reservoir
If 88 give the GOR and its comparable at 3000 to 4000 scf/barrel that will be a good guide
Everyone hopes for a good result, and that the 40m barrel predrill estimate for SMDB holds or improves
Almost correct Taxi, it is in US $27m, and costs 4% interest pa, paid quarterly, plus capital repayments of `~2.45m
Payable in cash or 10% discounted shares
Seahawk
Yes they could raise, drill into the Ahpun topsets, score a great set of data, come back do a 10000 ft lateral and show the market a great flow. But then it would all have to be parked until they had production, refrigeration, reinjection wells and compressors.
It would be a lot of resting capital, they don't believe is needed, as the data has already shown what is there.
They are in a great position now, permitting is a slow process, they have begun. there is no point in spending capital in advance of it being able to give a return