Member Info for Phrontist

csw12
Those that attack the man usually have a guilty or stupid act to cover.

Where were Eric/Jade/ELKO shares issued?
ASX or AIM?
The drop could have been Eric Selling half his 360m shares to cover the costs of the Drill Operation.
Staff, machines, trucks, tanks, chemicals, materials, petrol, portacabins and food, computers and communications, helicopter drops, etc
Phrontist

One reason for the fall is:
The wonderful Capital Raise by DW in the City of London is finally giving up its last few 100's of million's of 88E shares.
When there are many Sell's with weak Buy's then SP drops, YES?
Remember, 1.6 billion new shares were issued.
Also just before that, XCD shareholders were given a new 88E of 20% in shares.
Many XCD shareholders just want to move on (remembering LSE:XCD negative posts).
That makes a wopping 35% of new issues over an 8 month period.
Not easy to unload, quite frankly.
Now is good time for unbelievers to dump.
Phrontist

If Reddit are behaving negatively, then why are they up 44% and rising...?

Aus ASX Closed up 28% equiv = A 2.8c x 0.56 = 1.57p
UK LON Open down 4.7% to 1.43p
US OTC Open UP 44% equiv = US$ 2.1c /1.39 = 1.51p

Phrontist

Docmin, can you hear me from London? Oi....
Is it time to give DW some slack?
Possibly a little grovelling and apologies???
Maybe drop a note through his letterbox.....
Please DW, I made a mistake, you have really pulled it off this time.....
And just over the horizon, I see masterstrokes of easily funded good-terms FO's, many drills per year, few CR's because SP is sooo high, each little FO brings in shed loads of Aussie Dollars.....
Phrontist

15:19
The schedules in 88E's RNSs are targets, estimates,
Life is full of small issues, weather, in particular the temperature, it is so cold up there.
I cannot imagine all the details but arranging equipment, trucks, tanks, whatever on the Slab
Assembling, positioning, testing functions, testing responses (oily?),
Administration and political issues.
What I am saying is, this is a big operation on a very fast timescale.
Staff/workers are living there, in portacabin style containers for office, sleep, cooking, table tennis, etc
On many aspects, multi-shift work....
Not least, managing H&S, with much flammable liquids present.
And of course, how the drill is going, hardness of rock, etc
This is a major and complex operation.
Just some thoughts, Phrontist

08:35 nbul1
I am hoping for 2p by Close of Business today.
Please don't take this as Financial Advice, I am but an Optimist and Analyst....
And if we make a good strike....?
I am sure your 5p hope will be history, with BIG buyers of Peregrine/Uniat or even 88E itself.
Phrontist

10:26 guzz
I'm sure that you can work out an MC from and SP by looking up the SOI....?
I have written many posts on the step from Icewine-1 result to Icewine-2 result.
And I have sent a few emails to DW for explanation, but no reply.

The Icewine-1 samples produced light crude oil using a chemical encouragement. (My interpretation).
Then eventually we are told, Icewine-2 did not flow due to bitumen blockage!!!
Bitumen is sort of thick oil / soaked coal / high hydrocarbon mineral with impossible flow.
I asked, was the proppant at its best? No answer.

Anyway, I understand that Charlie-1 is strong on excellent hydrocarbon gas.
And the text books tell me that pumping hydrocarbon gas into a bitumen well can/will produce light crude oil which flows.
No answer.
Partial de-risking of HRZ indicated 3.6 bbo.
Across the whole region, double? treble?
This one requires a BIG experienced, smart production company to crack.
For them the future can be bright.

So, anyway, when (momentarily) the SP was 4p in 2016, the BELIEF was that HRZ had been cracked.

Phrontist

09:58 every day has new surprise, new information, this is AIM, the Wild West of share investment.
My comment of 88E and One Billion $ Company was correct, and still is.
Our MC is crippled by low ability to run concurrent Drill Programs and move forward with more speed.

Can you imagine if suddenly CP took over 88E?
They could have four Drill programs by early 2022, one for each of our 4 Projects.
And then 2023, 8 or 12 Drills assuming 2022 produced reasonable results.
By 2024 there would be at least two Production Wells, with 8 planned for the next year.

88E, in the hands of an experienced and wealthy company, can recover a $1b purchase price quite quickly. Then have 20 years of great production business.

Remember the expression, 'he's worth more dead than alive.....'?
Well, 88E is worth more as an 'Up for Sale' asset, than as a small underfunded business.

If, and it id a big IF, Merlin were fabulously successful, then....
Selling XCD/Umiat Site could go for $1b just on its own.
Leaving 88E with $1b in the Bank and two sites to work on - Yukon Gold and Central North Slopes.

Shareholders would get 7p/share cash refund and still own their 88E shares....
Yes, 1p /share today IS pretty inexpensive

Phrontist

csw12 don't be such a misery guts.
Ramp with information, or
De-ramp with information
But don't just sit there all day moaning and screeching like a fat baby.

Regarding the £1 Party, people should realise something.
We have 4 times more shares on issue compared to late 2015.
So, for same 88E MC, we are looking for a 25p Party.
This can be achieved, we have four projects now compared to one then.
DW had raised some $40 million from FO Partners at no cost to 88E.
Our chances of success have vastly improved with all the 2D we have acquired, 3D we have done, vast amounts of computer processing, adding in Testing Results, interpreting, etc.
There are promising chances of Merlin-1 spitting oil.

But if not, what then?
DW is leaving, costs are being paired.
Chances of securing ongoing FO's are improving, not declining.
Yes, this is a long expensive haul for LTHers.
But 88E is a very attractive proposition for New Investors.
We are far more attractive today than 2015, with little knowledge of the region.
If Merlin is not commercial, drop to 0.4p or 0.5p is likely.
If Merlin IS commercial, then 25p is real prospect within couple of years.
That is better than betting once on Red or Black.

As for last October, my comment was true.
Most of us would be thankful for an SP rise to 1p.
DW has made this happen for us.
Now watch and see....
Phrontist

08:56, improved MC is justified on a number of factors:
The SP has been unusually low for 6 years as oil exploration business
Crude oil $/b has risen to levels that restore oil production to profitable levels
Peregrine / Merlin-1 looks an excellent opportunity, if successful 2x to 5x is reasonable
There is follow on of Harier-1 at Peregrine, though Drill timescale uncertain
Conoco Philips activity North of us, also Nanushuk is already successful with more Drills planed 2022
The addition of Umiat at economic cost makes the XCD purchase more viable
Yukon has been making progress with associates Exxon Mobil and Opstad's leases.
DW's very smart and economic purchase of a strip that extends Yukon leases up to Prudhoe Bay adds significant opportunity to 88E and the 'group'.
Heavenly-1 in 2022 is likely to be successful based on Talitha / Pantheon ongoing success just North of us, and the results from Charlie-1.
'PB's Project' of massive unconventional HRZ layer under the region shows promise from Icewine drills and Charlie drill
88E has downsized leases that no longer look promising, saving annual charges

Everyone knows, we need just one commercial Oil Flow Test success.
That should be enough to move future de-risking work from 'wish list' into 'do list'.
Successful de-risking of XCD/Umiat region could bring Purchase interest from CP, it makes sense for them.
Also, most people know, exploration companies usually have a string of 'near misses' before homing in on a 'hit'.
Give DW credit for blasting away, gaining regional knowledge, making 88E and/or its subsidiaries more attractive for a reviving post-coronavirus and post-oil depression oil production industry.

Phrontist

Moneyhawk
You fail to understand what 88E mission is:
Explore, de-risk, sell on
A buyer could make an offer for the XCD Umiat parcel in May and the company could complete on a Sale within two months. For $ hundreds millions cash. Even a $billion for an outstanding Drill / Oil Flow / Lab Results Program.
Phrontist

Hu11
No one has an ulterior motive.
Everyone wants to make money ??
You sound paranoid.
Phrontist

The crude oil price has an amazing positive trend which underwrites everything that 88E does.
There are suggestions in the USA that Brent will be up to $100/b by/during 2022.
Amongst other things, this will give legs to all the big oil production corporates SP's. To make them go looking for new oil resources.
Phrontist

Go

Friday AIM and Monday ASX have blasted through de-rampers nonsense and Day Trader manipulators.
On ASX this morning there were orders at 50million to almost 200million shares.
New, large and serious investors are taking 88E to levels we have not seen before. Even the best week of Icewine-1 in 2016.
Predicting AIM Close today is anyone's guess, but I believe 2p is quite possible.
New Buyers have belief in DW's years of hard work to spread our risks and move forward on four fronts. 88E is worth many times the current MC and it will be new blood that takes over the baton.
Phrontist

0.7p close ?

PLUS, we have been given a gift -
Brent Crude oil almost US $ 69 /barrel
This is truly amazing considering the recent past of disasters.
Fact is, for many reasons the world will continue to need oil, and not always to burn.
A typical Cost of Production is US$ 35 /barrel.
Production margin = US$ 31/barrel less tax.
Project Sell On could net us US$ 3 /barrel
For a de-risked billion barrels that is US$ 3 billion
Please correct me if I am wrong, it is 'lager time' on a late Friday afternoon.
all the best Phrontist

IMHO (meaning 50/50 etc), I would suggest SP will be double within 7 days.
SPUD on Monday, maybe slightly before.
Possibly our best drill chances being in good company with other Nanushak successes
Project mostly funded by FO
No debt, plenty cash in the bank
Other projects in the pipeline (Yukon, Heavenly, Icewine, Umiat)
Have a good weekend, Phrontist