Member Info for pbody

SOME Permit NEWS!!!
"The Yukon Leases are located adjacent to ANWR and in close proximity to recently commissioned infrastructure. Permitting underway ahead of possible drilling in 2021 – subject to farm-out. "
So the permit for 2021 is in the "pipeline"..........

Its not like Charlie1 (min of 250,000,000 NET to 88e), But as someone mentioned, the fact 88e was not touting for farm-out partners says it all. 2021 drill looks like it might have PMO pencilled in.

Honestly, I reckon Fri cash out and wanting in on BOIL this morning maybe. You could have made 50% today buying in late last night. And MM maybe shifting to it.
Selling out at 1.45pps and buying now you could have made just over 24%
You will probably hit filter for this(if it's not already.)
The War Begins next week(always liked Laurence Olivier as a narrator, best thing he did.). Run up to Valentines and after. The trains About to DEPART. GET ON BOARD CHOO CHOO!! NEXT STOP HOLES IN THE GROUND!!!!
Treat the wife to homemade RAILWAY First Class breakfast. You cant go to war on an empty stomach, This is Sir Lawrence Olivier's favourite apparently. Still served if you travel First Class, from Devon.
https://www.bbcgoodfood.com/recipes/spiced-rice-kippers-poached-eggs

From 20th.
" Drilling is scheduled to commence in February 2020 with flow testing anticipated to conclude in April 2020. "

"• Project Icewine Unconventional Assessment of material from regional wells ongoing in order to conduct additional FIB-SEM analysis to confirm improved effective porosity and connectivity. Additional analysis to be complimented by results from the Charlie-1 well, with the well designed to penetrate HRZ and gather additional data which will complement the ongoing additional analysis being conducted. The Joint Venture plans to conduct a formal farm-out process to fund further appraisal.
Yukon Leases Discussions are ongoing with nearby lease owners to optimise the monetisation strategy for existing discovered resources located in the vicinity of the Yukon Leases. The Yukon Leases contain the 86 million barrel Cascade Prospect*, which was intersected peripherally by Yukon Gold1, drilled in 1994, and classified as an historic oil discovery. 88 Energy recently acquired 3D seismic (2018) over Cascade and, on final processing and interpretation, high-graded it from a lead to a drillable prospect. The Yukon Leases are located adjacent to ANWR and in close proximity to recently commissioned infrastructure. Permitting underway ahead of possible drilling in 2021 – subject to farm-out. * Refer announcement 7th November 2018 Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.
Western Blocks
Assessment of strategy for future of leases underway, ahead of lease expiry in May 2021.
Corporate The ASX Appendix 5B attached to this report contains the Company’s cash flow statement for the quarter. The significant cash flows for the period were:
• Exploration and evaluation expenditure totalled A$4.0m (gross), primarily associated with lease rentals and expenditure associated with the upcoming Charlie-1 appraisal well; • Cash call proceeds received from Joint Venture partners totalled $12.4m; • Payments in relation to the debt facility interest totalled A$0.6m (US$0.4m); and • Administration and other operating costs A$0.9m (Sept’19 Quarter A$1.1m).
At the end of the quarter, the Company had cash reserves of A$15.9m, including cash balances held in Joint Venture bank accounts relating to Joint Venture Partner contributions totalling A$10.7m"
Worst case Scenario The Net to 88e looks to be half 480mmbls from the drill. That's still 250, 000,000 at $3.1 (well over 10pps)
And looks like more drills are in the "pipeline" if you pardon the pun.

Some of this very company dependant, RNS 14.1.2020 6th of FEB no follow up on the permit? No RNS? Looks like they like info on the website. Not anti this in this case, A lot of companies do. BUT ALWAYS AND ESPECIALLY WITH SMALL CAP AIM COMPANIES BE CAREFUL. A12 year old can set up a website......And that's why I always prefer and trust to prefer RNS.
Just from experience. And Loss.
http://88energy.com/announcements/
Under the 3.1.5A Disclosure of cash raise Deemed as "other" So CR looks like ring-fence for acreage payment and running costs of company. As "payment for services rendered" was not ticked I guess it was not for airstrip and Go Go dancers "Services Rendered". At those temperatures you could hang your 2 coats on each girl.
Most "up to date" State of progress the 19th. Jan All going to plan By the looks of it.
Have good weekend

Don't know, I always believed 50$ a barrel was needed for the Commercial Success, but read over last few days on neighbouring area that above $35 is profitable. Perhaps with the low oil price this starts to make sense?
Better to have "always in profit" pumps outs in PMO's mind than run the risk of costly roller coasters?
Sure as shi*te wouldn't be wise to let on just yet if there are using dual analysis demanded by PMO for full scale permanent rig/pump and pipeline. The locals would be up in arms? There is the Republican issue? PMO perhaps thinks get the foot in the door now? Before the New Elections? Which is likely to get the job completed, worst thing that could happen is Political U-Turn.

Reads like they are getting "dual appraisals" or some such? At PMO insistence?

"Interesting bit in Petroleum News -

"Those discussions ( monetising/farm-out ) must be serious because 88e did not have a booth at Nape in early February, whilst almost all the other companies looking for partners for their Alaska prospects did. "
Dave was probably up to his beard getting Charlie-1 set , but still interesting."

500M Mcap 88e Takeover at 9pps+? DYOF? With Lee Major Stuntman hanging from Hot Air Balloon on a rope doing Clean-up.

Not quite Well valuation, But article on Mcap of 800Million+ That's well above 10pps...
https://www.nextoilrush.com/88e-partner-1b-premier-oil-north-slope-farmout-drilling-q1-2020/
Also read the drill is expected to between 30 to 45 days? Sound about right?

Of 22 Only 3 up....

Read an article in 1 Alaskan Newspaper each Barrel is worth $3.1 Net. So that's $14,488,000,000! I hope that's the right amount of Zeros, My eyes have double vision!

Looking at the ASX and if your broker can give you a code for 88e listed on it. If the increases are 15 or 30% per day say, It might be possible to shuffle money between both exchanges an double the gain. Sure others have seen this and thought of it.

I have to admit. I Would have expected a few more updates on progress. When a farm-out is in progress, there are usually more interested observers and a strong desire to know. Progress reports for Jan are slim and confirmation of things from mid Jan (such as Permits even though we hope are a rubber stamp) that are now a week into Feb would be the norm. The comment about the drill going through to the HRZ and beyond to test an extra layer (15000ft IIRC) of deposits was posted on another board. This kind of Rumour on permit delays (I would hope) is best posted here and denied than just left.
Airships (typo) oops Airstrips makes you cotton on to what little new info is out there in Feb.
Noted Hydrocarbon Discoveries are the ASX sticking point.

Thanks yes I could Screensave program.

Consequently, as contemplated in the Company's circular dated 9 January 2019 (the "Circular") and its announcement of the same date, the last day of dealings in Cloudbuy's Ordinary Shares will be 6 February 2020, and at 7:00am on 7 February 2020 the admission to trading on AIM of Cloudbuy's Ordinary Shares will be cancelled. Also, as contemplated, the Company will apply to the Registrar of Companies for the Company to be reregistered as a private limited company.

Do you think any of the Majors would have had a PROBLEM personally with ToR?

"I don't understand why they can't conclude a deal, on terms unusually favourable to the farminee, and get on with it."
I think that's what we all hope, problem with APEC deal it all felt a bit NOW,NOW,NOW and nothing really followed through.

Is there a way you can "bookmark" posts or replies? Thanks.

DYOF Made me smile. Honestly I had visions of using a hot air balloon and a man dangling below on a 100ft rope. If filmed would be worth a watch.
http://youtube.com/watch?v=Bt-LscNr53w AGS North Dakota
As for comments about JV and PMO news releases and the ASX and following through with News releases.
It looks as if the Permit is already there (and has not been deemed pertinent to have a follow up) or that any small delay that are not going to have any overall effect is reported. Either way it IS a week since expected. The open-ended format of both road-construction and Permit to drill leave me I little doubt that company policy has as much to do with news release and format as exchanges. One thing did cross my mind. The quick an shrewd could make a 30% or more gain in a day on the ASX trading with news first in...whip there money out and buy in first thing with LSE and maybe get another 30%+ in a day. Not sure any will say YEP to that!

I still wonder with PANR Mcap if PMO offered 88e 9pps (500million) would DW be happy to walk away with 3.5million in share value?

Seems an odd time to sell. I know the spread is diminished and nominally 0.1pps (only case I monitor is GWMO where its seriously not that as a minimum usually). Banks doing well today. Baron Oil...think that might backlash tomorrow.

There are no RNS there today either.

Brom, Thanks for pointers on clean-up. You do wonder with a drone. Perhaps tv crews can be a by- product of helicopter and the TV rights are offset against costs. Are the earlier dates on operational limits in "American format"? The rig is hired, Is there a maximum contract length? That might give some limit to the other open end.