Member Info for Olderwiser

I believe you have misinterpreted the very purpose of a share chat site, I believe it is to share insight, analysis, knowledge and opinion, so that people can become better informed on whatever they have an interest in.

Sites do suffer from hijacking at times, where dubious characters take control of the narrative, to drive an agenda for their personal benefit, such as pump and dump schemes

MysticmacO

A back handed compliment, well I never

With a result due on Thursday, we will get to see if my skepticism is justified. FWIW I have just joined the dots and drawn a logical conclusion, based on far more experience with 88e and the oil industry than most on here have.

What I see is a bunch of investors that got fed the cool aid by a pump team and became addicted to it, Detox is painful some will do it hard and others the easy way through Knowledge

Igor thanks for reposting the link

This is the key for this test, 88e have been "authorized"

"This includes the release, burning, or escape into the open air of gas, from a well producing oil or gas,

unless authorized by the AOGCC

Triumph1

We did discuss but that is not an agreed conclusion. The gas oil ratio should be in the range of the PANR reservoirs 3000 to 4000scft/barrel in the SMDB or much higher 12000 to 13000scft/barrel in the Alkaid ZOI

This would give a noticeable but not large flare in the success case and it would be reasonably stable once oil flow commences, as the gas is from the pressure control valve on the 3 phase separator, which will also act as a surge drum to dampen gas flow spikes.

The document was debunked as a misinterpretation of a production scenario, this is a short term flow test, in which flaring to atmosphere is permitted under the permission granted before beginning

I will point out PANR back flowed in their vertical flow test at the Alkaid 2 SMDB for 11 days, the fist 6 with frack fluid, followed by 5 with hydrocarbon flows also included in the range of 30 to 100 barrels of oil per day

All seems fair Shareguru22,

You are identified as a pumper ramper by your own post

Then hopes no one listened as they would have suffered a loss

Then wishes 88e well

But not you as you are being a scoundrel and should receive no reward for such unscrupulous behavior

The ASX runs differently from the MM system on AIM, buyers purchase directly from sellers, the exchange provides the transaction system only, it never owns the shares

In this system the price moves in a minimum of $0.001 units, so you can only move from say .005 to .006 or visa versa thats why it is so jumpy in % terms. (There is an exception if you have a broker, or special skills/privileges, where .0005 units can be used)

As a result the VWAP is a better guide to the days trading, today that volume weighted average was 0.00563 on 25m shares traded

Stratton 09:10

This is a different application of N2, it is used to displace liquids in the vertical column standing in the well bore, so lightening the weight of liquid column.

In a normally pressured well as Hickory is expected to be, the liquid column pressure will match the reservoir pressure, by injecting N2 some distance down the well, the bottom hole pressure is reduced, so allowing the reservoir fluids to flow to the now lower pressure well bore

This is a sequence that becomes redundant when gas and oil are flowing as the hydrocarbon gasses then reduce the standing fluid column weight

The well then transitions to flowing with out nitrogen gas lift, during this transition a flare should be established

Redbeardoil2

Although it is correct that nitrogen is inert, it only takes a small amount of gas to be present for there to be a visible flame

Air is 79% nitrogen, so the mix is just a higher N2 concentration, combustion takes place when oxygen is introduced from the 21% in the air

In the end it comes down to gas (Ch4) and O2 will burn when ignited by the pilot flame on the flare tip, if there is insufficient gas to burn, then there is an oil flow insufficiency as well

Shareguru22

I would reply directly to your post but I cant find it

Let me assure you I am not Scot, I know your game though, as you have no answer to the points argued or information shared. You will attempt to discredit the poster instead

I do understand you and your ramping team, have beecome accustomed to spreading disinformation and hype, to lure in the inexperienced with promises of easy riches, so that you can profit from their lack of guile, and subsequent losses. Are you selling today ?

With the pump and dump strategy as your guide it must be deeply concerning to have a counter point of view argued, so I do understand you becoming triggered by reasoned and informed comment here.

But I am sure you can take care of yourself very very well, pity about the others though

MysticmacO

I would be very pleasantly surprised, as it will add value on both sides of the boundary

Triumph1. I am afraid we will have to agree to disagree on interpretation, my experience is they would seed a rise if they could, then build on that with a positive RNS on Thursday if they saw a probability of imminent good news.

Agreed 88e have massively over spun, in the past, leading to huge losses for investors, I have not detected a change yet.

For example using estimated contingent of 250 mmboe for the BFF, when their share of it is only 28mmbo plus 57mmb of NGLs, if that is not a blatant current spin, what is it

First barrel is a misfire IMO, second is still live though

Triumph1

The argument you have put forward, falls over when viewing the current RNS style, if there is something there it gets a positive spin every time

As investors here all know, capital raises are always kept warm and ready to serve.

88e historically always spin up for momentum, and never miss an opportunity, so missing one now would be unexpected, especially given mention of, still inside budget but using up the inbuilt contingencies

MysticmacO

On PANRs involvement, they were there for a free data hit/exchange, and would have provided every assistance to ensure success.

Any success even limited, is positive for them, they cut off their reservoir inclusion North of the boundary.

Any thing that allows them to move the inclusion line closer to 88e leased area is a gift to them.

Mutual benefits in play, but no loss to PANR in failure as they had not included reservoir right up to the border

MysticmacO, 2021 makes you a newbie, this RNS screams failure of the USFS to me, the wording is just so flat, this company spins up everything, so no enthusiasm means a poor result,

All reinforced by no flare pictures from the N/slope sleuths, what's the chance the sleuths missed 2 days of flaring through a couple of nights, even a small flare will be a beacon

Reading and comprehending a 88e RNS is a skill, focus on what is not said, we will see soon enough

MysticmacO

Thats a funny one, I tend more towards fact than fantasy, can you not determine the difference

Catch up this coming Thursday

Fair enough Mysticmac, you stick with Ikhan1284

Mystic mac

Check back on Thursday, then you will know

Count it out, 2 days of pressure test, plus 1 day for analysis, and announcement by end of week Thursday

1,2,3

It means the flow part of flow back is over, and not a word about oil

This is a very unexcited RNS, when you consider where they are in the sequence

In fact the RNS did not have the word oil in it any where

Really banditputin1

The RNS is out and it most certainly did not say gusher