Member Info for pbody

Too true learning to invest.
Interest is the key. That's why it's barmaid!

I could not believe back in Aug with a drill coming up the SP was 0.8 TBH

It is so true.
Everyone has there own "price in mind" be it a value of shares, a percentage or a target price.
To either get in at or get out.
It is going to keep rising. IMHO
It is a runaway train and the nearer it gets to results (and good results too) the more people will see the undervalued price.

Its not a worry, But it just amazes me with what's coming up to be selling now!!

someone's out at 11 o'clock.....50k in split sells.

Posting this as aid.
https://i.ibb.co/LdBDMk2/88-E-Note-Copy.jpg
https://i.ibb.co/M6RJJbR/88-E-Pic-Copy.png
targets 5,6 and 7 primary targets. each have 50% CCOS i.e. 50%+50%+50%.
As well as being listed on AIM its listed on the ASX with strict reporting rules with regards to results.
Personally I think the nerves of a drill "upcoming" have undervalued the price.
IMHO there is a serious under-pricing that will correct as the months knock on.
Results are due back in April/May (correct me if I am wrong). I would hold until then.
3 to 9pps form conventional alone on 5,6, and 7. +40 to 50% from unconventional.
It will only climb. Dont be shaken from the tree by the nay- sayers.
Multibag before the drill is possible and again after the drill hits soil.......get in and hold....

Brom, that post was funny!

Can't fault you getting on board.
This will not so much have legs as wheels....Its a runaway train!!
TBH not sure about the FEB comment. I think this will rise after that as the results anticipated.
They might not be In till April/May.
The drill target is "aim"ed at the points 5 6 and 7 and the HRZ.
If they come in your looking at 3 to 9p from conventional alone....you can add another 40 or 50% from unconventional recovery.
Then there is the HRZ and targets 1,2,3,4 to add PLUS the other assets to 88e.
It seriously is priced out ATM,(pre-drill nerves), this could well keep rising for months (in fits and starts).

There a great idea. Clever option if you dont all like the same food.
Basically it over expanded and over diversified.
They have tried to address that.
Consolidation after borrowing to expand. Concentrating on core business and profitable sites.
Hopefully returning to better times. Its a long haul in SP terms.

Not supervised!
The SP dipping a few months ago is (IMHO) mostly nerves as the drill go ahead gets settled in peoples minds.
The SP is seriously priced out. This is a major drill with a serious partner! Eventually people will see the value as a multiple of the current SP and realise the operation wont just disappear in a puff of smoke. There is a drill going on. And one that's could be worth 480million barrels to88e. That's before the other assets.

I noticed there were 4large trades one after another on the 31st at around 11.20am
Seems crazy to me! amounted to around 85K sterling! Why jump ship now!

Yes can explain comment!
Completely misread situation!
I thought board had voted on resolution that IF share price passed certain point they had the facility to place certain amount of shares! (1.3% or 90,000,000)
Completely wrong, apologies. Didn't realise it was as staff bonus! Either way its a very small dilution so No Worries.

My last post for the night.
I will be interested to see what this week brings.
I think we are just starting the uphill stretch. Next week will be in full stride.
90,000,000 shares is 1.3% so if PMO bought in it would seem cheap if the results came good.
And its not the sort of 30% dilution that wold hit the shareholders and take an age to recover.
Will be interesting to watch over the next few weeks and I am sure there will be a lot of people buying in and asking you guys all sorts of questions.

Don't think I have or had ANY insight into a cash raise. OR if there is any need for one.
As you have just quite rightly posted IF the placement is a large enough percentage to effect the SP it can have short term detrimental effects with sell offs and buy backs. If the placement is a small enough percentage people can just want to add (especially if they think the SP is undervalued). As you mentioned again your right a placement at a higher SP with the anticipation of a higher SP still is the ideal for this.

ahhh 90,000,000 typo

If the SP is up and above the values needed for working capital (in speculation say a 90,0000,000 offering) as I have seen happen quite often rather than a serious material dilution to the SP , I have seen this with other firms, it can be normal practice for these shares to be offered at a discount to existing shareholders first? I imagine the take up to be quite high on that if they are offered at a 20% or 30% discount say? Others have done this so working capital needed can be both beneficial to shareholders and the board? When they do it this way it can actually BOOST the SP!! I don't know if its the 88e way?

Brom
Thanks for the advice. As is the way with these things, IF the SP takes a climb to say 15pps or higher on results is there any insight into what 88e might want to do with all its claims? Not just Charlie1 drills? Is there a rumour of a takeover? It has been so rare that when there is THAT much money at stake they will let I climb and climb? They will perhaps want to buy-out and know thee price.
If you want to see what happens when a farm out is planned and the money doesn't turn up (and they say it will) take a look at PVR. I think that's the reason once there in "drilling mode" people feel safer to invest.

You are dead right.
I must apologise with the sweeping comment of 2.5p or 3p holders. It was a generalisation.
Not particularly aimed at you. I had no idea what your average was.
It was aimed at posters who believe 2p or 3p is about the max you will get before the drill hits the oil as it is their holding average....
Which I think says more about their predicament over the last couple of years than the likely price at that point.

The full value (and this is a problem with a drill imminent) it the oil price not quite being where I would like it for the HRZ and the other resources away from the Charlie drill not even being priced in really.
If anything the value of 88e is "priced out" and has yet correct itself. All of it "is the drill going ahead" nerves IMHO.

I would be intending to hold until May. Perhaps longer if the results take a bit of time to chew up.
But then my average is 0.72. What happens If the results come good on 4 or 5 intersects I can only guess?
Is there a chance of a PMO buy out?
Either way I don't mean to offend anyone (great way to start the new year!) and I am not looking to sell in any kind of rush.
As for the main market. That can be just as bigger wild west show!! I have made serious losses on there sticking with people that have to report thing and feeling safe in that knowledge. When they hype and dont deliver the results are the same really.
I truly do wish everyone a good new year. My honest thoughts are 5pps + baseline from this drill. I truly think your looking at a multibag before the drill and another after the drill hits oil.
LeMajor I hope you make enough buy yourself a new car.....just remember there is a waiting time on new deliveries.....place the order now !! If its a Rolls your after you might get it in time for the next 88e drill.....

Very true indeed. LeMajor.
There is also the perspective if you look at the other comments on the PMO site that AIM is a wild west shown and it will all fall apart as quickly as it arrived. When your just about to start drilling and have the funding for a drill, it seems like people still have that inertia that it isn't quite there yet.
Same with LTH who average say 2.5pps and are happy with 30% profit after such a long SP dip.
If you take the conventional for the lower regions (not including HRZ) you are looking at 3 to 9pps (approx.) HRZ is SO dependant on oil price that really you need $80 for max profit. Ultimately this is about getting ALL that oil out.
Ultimately the flow rates they are looking at aren't anywhere near as high as some and that might prove the true bonus for us.
I personally believe there WAS so much fear involved that people stayed away......as they realise this IS worth pennys per share (and maybe many of them) they will start to see the light and realise it's WHY once you get to this point the train is off and there ain't no brakes to stop it.

For all the comments about aim and the wild west.....
There is a good chance of a multibag between now and the drill hitting the oil patch and then again as the drill goes through the stratification layers....
True there is a chance some wont be as good commercially or might be outside financially viable with the price of oil.
but between now and mid/end of feb its only going up and after that it go up just as much again.
or perhaps a pmo takeover?
https://hotcopper.com.au/threads/charlie-1-target-valuations-mean-low-high.5155207/page-16?post_id=42163822
https://hotcopper.com.au/threads/charlie-1-target-valuations-mean-low-high.5155207/
Happy new year and perhaps pmo might break that 100 again!