Member Info for Phrontist

Correction -
we might know in less than two hours....
should be:
we might know in less than 26 hours...
P

88E's statements are made through Announcements on www.88energy.com
21 Jan 2021 88E RNS Quarterly Report for Q4 2020
21 Jan 2021 88E RNS Operations Update presentation
22 Jan 2021 ASX RNS 'Trading in the securities of the entity will be temporarily paused
pending a further announcement.'
22 Jan 2021 ASX RNS 'The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 27 January 2021 or when the announcement is released to the market.'

So far, NO INFORMATION HAS BEEN RELEASED BY 88E ABOUT THE ASX TRADING HALT.

Our discussions and speculation are improving our knowledge about 'USA politics'.
But equally we do not yet know if the 'Biden Executive Documents' are behind reasons for our Trading Halt.
It seems likely, more than a coincidence based on the two new leases announced in the Operations Update.

But we have NO FACTS about the reason for 88Energy to request an ASX Trading Halt.
And certainly, Peregrine is NOT a new lease, though XCD is new as part of 88Energy.

An ASX Trading Halt for 88E does not mean we have stopped work preparing for Merlin-1 SPUD mid to late February.
Preparation may have stopped or it has not stopped. We shareholders do not know.
But we might know in less than two hours from a hoped for new RNS on 88Energy Announcements and ASX ANN internet release.
(Note ANN is Australian Exchange Release; RNS is London Exchange Release)
Phrontist

Brom,
Has 88E given definitive reasons for his request to ASX for an 88E Trading Halt for up to 3 working days?
P

19:52 I've worked in and with private companies, public companies, charities, trusts, government bodies and quasi government bodies. I know what they are and how they work.
You obviously have no idea about the business relationship between 88E and BEX. B/S every step of the way.

18:28 perhaps you can tell us about the business relationship between 88E and BEX?
P

17:26 Chrisev1
DW must of had a USA based Legal Advisor from the moment JB signed his Executive Directive.
There are two 88Energy companies in the USA, I think.
One based from Houston, Texas
Other based from Anchorage, Alaska
I think the Alaska company owns XCD, Accumulate, Regenerate, etc
When DW initiated ASX:88E suspension, which subsidiary companies were thought to be a problem and why?
I assume that Houston based BEX have not been involved, but cannot be sure.
There is a lot that we shareholders do not know.
But none the less, raising the ASX:88E Trading Halt should be relatively simple and quick.
It seems the Trading Halt was a cautious move to gain time to investigate, then advise shareholders that all is OK.
Phrontist

Me 04:27 this morning.
Let's assume 88E BoD all have the necessary 'go' and stayed up over Friday night to communicate with appropriate USA authority. Perhaps using a USA Legal Practice.
Then 88E may already have clarification to issue RNS first thing on ASX Monday, and reopen 88E on ASX as normal.
ATB Phrontist

16:49 Good find, Chrisev1
So, why has DW requested and received a Trading Halt on ASX?
Is this 25% drop all about nothing?
Phrontist

Surviving a transition from Trump to Biden, how does the USA manage to vote in such people as Presidents?
Like a game of poker in a Hollywood film, each trying to outmanoeuver the other whilst the world looks on in shock and horror.
Hold onto your 88E shares is my advice. Maybe top up a little.
Peregrine will carry on as planned.
The new leases adding to XCD land and Yukon land will probably turn out OK and add into the company's portfolio nicely. If not, what you never had you will not miss.
I see SP approaching 1p over next two weeks.
You cannot buy such publicity, it is priceless.
The whole market will know who 88Energy is.
And take note, the company has done nothing wrong.
The small misunderstanding with a new President will pass.
Success with two Peregrine drills and one Pantheon drill next door will make 1p SP look dirt cheap.
Those of that have held over the last 6 years, we are getting used to this stuff.
Will this Spring be our breakthrough with commercial oil discovery? YES
Phrontist

It is time the 88E SP brushed itself down and recovered a bit.
Phrontist

15:35 Brom, the heading and summary is:

US puts new oil and gas leases, permits on federal lands on hold for 60 days
HIGHLIGHTS

Moratorium is for all NEW oil and gas LEASE SALES in the US
60-day pause would give time for Interior secretary nominee to be confirmed
EXISTING LEASE SALES AND PERMITS ARE NOT AFFECTED; NOT A DRILLING BAN

That sounds encouraging since XCD bought their leases years ago.
Phrontist

Basically, a signature from another White House idiot is going to cast Alaska further into the darkness of debt and poverty for its citizens.
P

13:46 Islayman
Thanks, good comments.
Many of us will have stressful weekends, including 88E staff.
But I feel that Peregrine will come through as planned.
88E's field operations have always been on time, efficiently executed, clean to the environment.
It is something to be proud of.
Another thing is debt, this company has no long term debt.
(Except ongoing Alaska Government failure to pay 88E what was contracted for causing us to take out a loan to cover it, of which we pay back a chunk each year.)
And we are not involved in any litigation, another good aspect for 88E.
P

12:38 AIM4, absolutely correct.
The last industrial revolution (coal, gas, steel, steam, industrial manufacturing methods, etc) is required to enable and facilitate the next industrial revolution, loosely termed Industry 4.0 (use of wider variety materials, silicon hardware and software technology in computers and communications, plastics / carbon fibres, etc, techniques IoT / AI / ECAD / etc.
The world cannot just drop oil and gas and replace with something new. It will take many more decades yet.

Islayman, I will you well.
Your 13:03 post is positive and welcome, buy how do you know this?
Phrontist

Hello Micky, I respect farmers, they have a lot to handle in a world of many changes.
I did not criticise farmers.
I criticised the eating habits of a significant part of the human race.
Personally I believe that a move towards renewable energy AND a move towards vegetarian diet are two key factors for the human race over this century. But as I said, not in an instant.
Anyone remotely interested in this topic should Google it and read.
I suggest one article with discussion, histograms and pie charts:
https://academic.oup.com/af/article/9/1/69/5173494
All the best to all 88Energy holders.
Phrontist

This has been a topic of discussion over recent days.
88E went through a similar thinking process when planning Icewine-2
IMHO, PB wanted horizontal, DW was against it. But DW should be sounded out for definite views.
To add horizontal or not to add it!
Please read the 88Energy September 2016 Presentation document.
The diagrams and reasoning are useful.
Icewine-2 went ahead on Vertical only.
Icewine-1 samples suggested the oil was plentiful and light crude oil.
Icewine-2 never flowed oil, its prime mission.
Two years later investigation indicated the well did not flow due to bitumen, a heavy form of oil, almost tar.
Would a horizontal on Icewine-2 have saved the day?
Would its horizontal reach have found the same light crude as Icewine-1?
Ummm.
Perhaps Pantheon technical staff have learnt from 88Energie's technical results?
I hope these two companies have a good working relationship, it could be beneficial.
Phrontist

USA politics lacks thought and balance, IMHO.
Pollution from animal methane is massive, possibly the largest single polluter of the upper atmosphere.
And the USA population are massive eaters of fast food and junk food based on beef burgers and beef ribs.
Their population is becoming one of the most obese and unhealthy in history.
Animal farming has been found to occupy 10 times more land than vegetation based farming, for equal food nutrition value.
Biden needs to study and understand all aspects of human behaviour as opposed to grabbing for global green party following. What is it about US Presidents....??? A lack of job security perhaps?
Phrontist

I also believe this is over reaction.
But understandable over reaction with a new US President 'shooting from the hip' just like his predecessor.
Of course, everyone should Buy, Hold or Sell according to personal beliefs and pressures.
But remember 88E's CR last year.
Selling some 15% of new Issue to 'financial' people in the City for knock down price. Was it 0.33p?
These City financiers will be panicking now and likely off loading 88E shares ASAP.
Their plan was never to be caught up in a 'business risk', but simply to manage a short term gain and exit.
Trump was an Asset and a Menace as a President.
Biden has become the same on his first day!
I have not seen the document that Biden signed off yesterday, so cannot comment on how or whether it does affect 88E.
What I can say is that no country, including the USA, can exit from dependency on fossil fuel use in an instant.
Even Tesla cannot make that many cars per annum (needing neodymium for magnetic parts and lithium for batteries).
Also to note is that Alaska government, and Oil & Gas companies, have been very careful in keeping polution to ultra low, possibly zero. Also, interference of wildlife to ultra low or nil.
The O&G tax generated gives Alaska indigenous population the opportunity to survive and thrive, and to manage the wildlife regions, which are vast.
What is it that compels DW to request suspension of ASX:88E?
It is likely to be his purchases of Umiat (XCD expansion) and Yukon Gold lease expansion.
So far this is only preliminary paperwork (offer to sell, offer to buy) initiated by the Alaska Government.
It has not become an integral part of 88E's business plan yet.
So, all told, IMHO, the SP should rise back, as it would normally do, and as we run up to Peregrine first Spud.
ATB Phrontist

Well Ddraig and Scot126, a right pair of back stabbers.
It is up to all Users of LSE to read and write as they wish whilst within the LSE terms of use.
How many PANR and 88E shareholders do you actually know?
And how many of them have personally criticised me?
You focus on the 'man' and not the 'company' which is not helping discuss 'company' issues.
Poor show.
Phrontist
(88E and PANR shareholder)