Member Info for Olderwiser

Taxi

Sorry I did not get back to you on this. I am not 100% sure of the intricacies so did not want to give guidance.

Take this generalization with a pinch of salt , more opinion than fact.

Escrow is a hold on shares that the owner holds, it means they cannot be sold with out permission from a third interested party. In the ELKO case say, 88e had to approve the sale before it could transact, but Elko would have been the owner. This of course can have a cloud of invisibility thrown over it through nominee holdings etc

Ausnsw and redirons

Stop lying . I have never filtered either of you, or in fact anyone here. If you get ignored it is because of your content alone.

Filtered or ignored are different things, just like spin and lies are different. If 88e spins a 4 barrels produced into a 50 bopd peak headline, thats spin, so long as the 50bopd rate was achieved for even 1 minute , it is true. It would be a lie if they claimed we produced 50 barrels of oil in a day

Subtle differences make all the difference to perception

What a co incidence, the crew of rampers from 88e, where every word is a celebration, facts are hissed at like they are demons and logical discussion is shouted down, are moving in vent their frustration at their failed annual pump and dump.

The blame for the failed pump and dump of course goes to posters like myself, who committed to bringing fact and analysis to the 88e table, so allowing the intended victims to escape the fiction mob mindset that was being sustained so vigorously

Time has now shown, the tight down dip low net to gross pay reservoirs have flow tested poorly, with their SMDB only producing 4 barrels of oil, in 16 hrs in the oil producing section of flow back and clean up.

No apologies from me for bringing fact to fantasy land, and geology always was going to have the last say.

Unremarkable for me to see this same crew of deceivers, have now changed their spots and can only find FUD to spread here, what ever happened to the unicorns and rainbows

MMO

Your blinkers are fogging up, no one is saying I told you so or gloating

Chrisev1

88e dont reply

Cenkos are their nomad

ASX are independent, and have some regulatory compliance power

Every investor here has a right to demand answers of 88e after those RNS's

MMO

Yes that is exactly what I think you are, a blind pumper, working a dump strategy that went wrong

MMO

You have done a great job of describing the pump and dump bad actors here, running their disinformation to con the gullible out of their hard earned cash

If I can summarize the opinion of the pump brigade, the posters that have provided the warning bells on 88e, are the problem

Has it occurred to these manipulating rampers, that I do not post for the benefit of the rampers

Can you imagine the profit these scoundrels might have gotten out at, if no one had provided the required balance. At least less mugs averaged up, or paid an inflated price to finish here, Some open minded rational investors may even have gotten out in time

So back to the poster being the problem again

Nothing to do with 88e itself,

its RNS mess,

the geology,

the 4 barrels flow test,

the urgent need to capital raise,

the down dip location,

the 2D seismic estimates on volumetrics

Etc

Chrisev1

ASX, 88e, Cenkos

Chrisev

I have raised it through 3 different official channels, waiting on answers now

HSG

Of course I am staying on point

The test was to find a sustainable flow, not some momentary peak

The sustainable flow is what matters, thats what multipliers are based on.

Handspring

In this case the critical information is how much water fell in total, over the entire rain event

Neversatisfied

You are defending the indefensible, here are 88e's words from the RNS Appendix A

Its a 16 hr period from initial oil to surface, clear as a bell

The well

produced at an average oil cut of 4% following

initial oil to surface, with instantaneous rates

observed during the 16 hour period varying as the

well continued to clean up at managed fluid flow

rate of ~170 bbls/d with a calculated total volume

during the flow back period following

establishment of oil cut of ~4 stk bbls.

Neversatisfied

You are minimizing the gravity

It flowed oil for 16 hours, and produced 4 barrels of oil in that time

Neversatisfied

What are you talking about, stk tank barrels is the measure of oil flowed

Neversatisfied

That is pure undiluted hogwash, 88e were there to get a flow rate, to assess whether that flow rate could be multiplied up into a commercial flow, in a horizontal multi stage fractured development well

Going on 88e's projected upper limit of 12X that would be 6 X 12 = 72 barrels a day from a well that will cost around US $20m, not a chance in hell of being viable on that

Neversatisfied

Fine for you then, you have concluded that the SMDB only flowed 4 barrels in its test.

Others are still thinking it flowed 50 barrels, dont you think they deserve a bit more information on, what is the most credible, the 50 which would be OK, or the 4 which is poor

Given that 4 barrels is the total production over 16 hrs of oil production

Evidenced by

88e announced it, in the required Appendix A

It closely matches the 4% oil oil cut from the 114 barrels of total fluids flow in the 16 hrs

88e are aware the public have discovered and focused on the 4 barrel figure, as an indicator of failure, and done nothing to correct it. If it were an error, it would be an OMG moment, fix it immediately

The next question becomes, a trust issue. The RNS was written with so much spin, that the market concluded 50 bopd was the result. Even seasoned oil field geologists accepted it as a truth, as people that are accustomed the unvarnished truth do, but it is now clear, it was a spin, that obscured the truth of the matter

I have been working on decoding the announcement, from what I conclude the 4 barrels in the stock tank stands, also acknowledge it is a calculated number as stated by 88e, IMO as the stock tank gauge is not sufficiently accurate to make such a fine measurement

Looking for a cross check from the 4% average oil cut and the managed fluid flow rate of ~170 bbl/d over the 16 hr oil cut period

170 bbls per day for 16 hrs, is 67% of 170 = 114 bbls total

114 x 4% average oil cut over the same 16 hrs = 4.56 barrels of oil

Its not a precise match but close enough for me, given the number of `~ approximates and possible rounding errors, ie is the 4% a rounding of a lesser number say 3.6%, or the 4 barrels a rounding of 4.4 bbls

Sharebel

The spin cycle is over, its rinse and repeat next, then to hung out to dry