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Your right BOBHOPE.
Point I was trying to make was, If the Neighbours are drilling successfully at 8000ft and extracting oil, then Torok is in the same strata. You all pick apples from the orchard in Sept not Feb being my point, you have a better chance of success.
I think the Torok has better than 50% CCOS for that reason.
How do you like "them apples"
Won't argue, seems a lot of price movement for 88e to have.
Best quote I have seen on price out the ground was news article from ConocoPhillips? on North slope. There article stated $3.1. But again finding actual values is a long search and slightly grey in getting an exact figure.
Sod it.
If the drill looks very successful on Stella (with the strata being in the same ballpark as neighbours) are we looking at a major 88e shift and drill on later this year early next? What's the anticipated next move from 88e?
The risk with low oil price is non-profitability. PMO has dived 20%. Looking at the bigger picture that's why they are perhaps so interested in 88e. Profitable oil production down to $35 a barrel. They have just a "buy-in" by management to prop the price a stop it falling below 100pps with it.
If you are looking at the upcoming drill (forgetting all other news) The Strata of Stella looks good (stratos!! an army!!) Its where the others want to drill. I think there is reason to be very confident about that region. Say we hit that and its the only result to come good? what would be the effects?
No thanks for pointing that out, and yes. The widely held belief that the ASX makes news "more automatic" is not true.
This is all company dependant. I am sure if you wanted to keep steam up with the SP and Investors you could have gone the route Ice road 25% complete, Ice road 50% etc. In several releases through Jan. The way 88e have played it is leave an open ended RNS. Deadlines have passed. But it is still open ended.
TBH the real point I was trying to make was the drill at Stella level looks like the same stratos as others are aiming at.
2nd point was "confidence" is why the SP is dropping. Nothing has changed from 1.5pps. No massive sell off. ASX traded less than 50k! Some is drivel and fear inducing. This should still be going up. SP(should be 1.83pps at moment)looks like trickling away until BOOM!!! RNS. Thanks for having an affect?
I am not saying that there will not be announcements on here (inn fact I am I suppose) other than things like "permit due end of JAN" that did not get a follow up. That does effect the SP. Makes investors (particularly new ones) nervous, they sell and look elsewhere. Same with some news on the ICE road construction coming from PMO. NO repeat or copy RNS with 88e.
At the moment it's all happen on the drills in Alaska, RMP,BOIL etc. You might find CR are a good way to deramp 88e whilst they "play trader". They did the same thing with Post ASX sell off! Look at the total volume on the ASX? 3 million shares!! What sell-off?
Although the news may well come first via a ASX news bulletin, The first real mover in SP will be the LSE(from past experience).
Others nearby are drilling. They are looking around 8000 ft or just around the Stella region.
Its a "hot spot" by the looks.
I know this adds nothing. But nothing has changed. Other than the mood sometimes.
"Cenkos say the drilling of the Charlie-1 well will be a defining moment for 88E as it seeks to prove the conventional potential of the Project Icewine acreage. The broker updated its model for both the HRZ Shale and the Yukon Leases, whilst updating a full DCF model for the Icewine Conventional acreage.
“The result is an increase in our valuation and our price target to 4.8p and reiterate our BUY recommendation,” said analyst James Mccormack.
At the current share price this represents an almost 450% premium to the last close on London’s AIM market of 0.88p.
Mccormack added, “Whilst the early stage nature of 88 Energy’s portfolio makes our valuation speculative, the upside potential is huge, unrisked, we value the 88 Energy portfolio at 47.8p per share or US$4.8bn.”
"
"AIM is very much news driven, and we haven't had any. But soon..........."
You are so right. I don't expect any before valentines day.
Don't forget there was virtually NO trade on the ASX. 3million shares.
All this crap about a big sell off after the CR, utter bull(perhaps the wrong phrase here).
Nothing has changed since late Dec/early Jan. This is people trading elsewhere IMHO.
Look back 4 or 5 of my posts. I will stick with the broker rating......4.7pps target.
I honestly don't think 88e are on the ball with investors and AIM. ANN notices are all very well, but I cannot check down the list of RNS on her with my watch list to find news. I have to pick snippets up on PMO RNS and 88e own company website.
Been here before with companies like that. "hard work" to invest and keep track. Lets hope the pay off is worth it.
looks like it.
But this is the way most go at a large area.
"Horizontal oil or gas wells were unusual until the late 1980s. Then, operators in Texas began completing thousands of oil wells by drilling horizontally in the Austin Chalk, and giving massive slickwater hydraulic fracturing treatments to the wellbores. Horizontal wells proved much more effective than vertical wells in producing oil from tight chalk;[45] sedimentary beds are usually nearly horizontal, so horizontal wells have much larger contact areas with the target formation.[46]
Hydraulic fracturing operations have grown exponentially since the mid-1990s, when technologic advances and increases in the price of natural gas made this technique economically viable.[47] "
Read under massive fracturing.
Look at an earlier post today "the beast" and realise modern techniques they can pin-cushion an area miles away.
That gets big results. fast. If that's the way the FO want to play it.
https://en.wikipedia.org/wiki/Hydraulic_fracturing
https://en.wikipedia.org/wiki/Hydraulic_fracturing#Oil_and_gas_wells
Really must get 2 bed.
ps early attempts..read...stick of dynamite down the hole!! With Oil and Gas. Red Adair!! never has so much work!
Night
Could sleep on a guess.
https://www.nextoilrush.com/88-energy-edge-closer-spud-date-one-biggest-oil-wells-2020/
Check here - bit under 2500m, But further away from surface greater error in distance.
Also read near the bottom....Nothing has changed. Except I am more confidant that the results will come good.
"Cenkos say the drilling of the Charlie-1 well will be a defining moment for 88E as it seeks to prove the conventional potential of the Project Icewine acreage. The broker updated its model for both the HRZ Shale and the Yukon Leases, whilst updating a full DCF model for the Icewine Conventional acreage.
“The result is an increase in our valuation and our price target to 4.8p and reiterate our BUY recommendation,” said analyst James Mccormack.
At the current share price this represents an almost 450% premium to the last close on London’s AIM market of 0.88p.
Mccormack added, “Whilst the early stage nature of 88 Energy’s portfolio makes our valuation speculative, the upside potential is huge, unrisked, we value the 88 Energy portfolio at 47.8p per share or US$4.8bn.”
"
The risked Asset value is somewhere between 800 and over 2000 million dollars. As we drill these targets and de-risk to actual numbers with farm-outs the Mcap can only climb. We are not just talking about the Charlie 1 drill with those numbers but with pump out still profitable at $35 we must look more attractive and more likely to realise that kind of value than ever before.
I think the SP should be multiples of pennies. Not tenths of. Sooner this is DE risked and drilled the sooner we can get to the right side of 5pps
.
https://www.sharesmagazine.co.uk/shares/share/88E/broker-views
where the never recovered from
https://www.proactiveinvestors.co.uk/companies/news/216403/cantor-fitzgerald-keeps-buy-on-88-energy-despite-chopping-back-its-target-price-after-winx-1-disappointment-216403.html
What kind of a correction are we looking at?
https://walletinvestor.com/lse-stock-forecast/88e-stock-prediction
https://www.telegraph.co.uk/markets-hub/share/S2/88E/88Energy
https://www.ii.co.uk/shares/88-energy-ltd/LSE:88E
From cash for clunkers..... will make you laugh (I HOPE).
Car scrapage for environmental reasons.
Engines are"rendered useless" for spare parts.
Procedure Hazards include " Hazards associated with the intentional overheating and destruction of the engine include rupturing radiator and hot water/steam, motor oil ejection, toxic fumes, and fire. "
Sounds like Top Gear!
To ensure that vehicles traded-in under "cash for clunkers" will not be resold by dealers, the program outlines a procedure for destructively disabling the engine (and thus also precluding the possibility that any mechanical engine components might be salvaged to be used in the repair of any other vehicles): the motor oil is drained and replaced with a sodium silicate solution, then the engine is started and run until the solution, becoming glass-like when heated, causes engine internals to abrade and ultimately seize.[25] In addition, the salvage or scrap facility which acquires the vehicle cannot sell the engine, cylinder heads or a "rolling chassis" from the scrap vehicle. The salvage or scrap facility can sell any other component (including the transmission and axles) from the scrap vehicle separately and may dismantle and warehouse the parts. The "hull" of the vehicle must be crushed within 180 days. Cut off or unbolted front-end assemblies may be saved and sold at a later date, as well as the "top and back" of pickup cabs.
The outlined procedure says that running the engine at 2,000 RPM "should disable the engine within a few minutes"; if not, then allow the engine to cool off before repeating the procedure. Hazards associated with the intentional overheating and destruction of the engine include rupturing radiator and hot water/steam, motor oil ejection, toxic fumes, and fire.
By completely disabling the engine, the CARS program avoids recycling schemes such as the one discovered in Germany, where authorities found that an estimated 50,000 scrapped vehicles have been exported to Africa and Eastern Europe, where newer, safer cars of the type being destroyed in the West are prohibitively expensive,[26] In contrast with the U.S. program, the German program only requires dealers to drop off the scrapped vehicles at junkyards, thus allowing the illegal exports.[26]
Auto recyclers and dismantlers have criticized the program due to requirements that the engine is to be disabled to prevent re-use of the car. To auto recyclers, a car's engine is considered to be the most valuable part of a junked car. Some recyclers refused to participate in the program, as well, due to the limited profit potential of junking a vehicle brought in under CARS.[27]
I know enough about the subject and listening to "official figures" that when I used to buy a car, I could look at the MPG in the official document or brochure and the car might be able to do that MPG. I don't look now and believe the tripe that is written.
If you cannot believe that tripe, why believe any other "official" tripe? Other than pedestrians are 50% more likely to be ran over by a slow moving prius? I won't post further on the thread. Seems a bit pointless and really off subject.