Member Info for Phrontist

I cant see Lab Results showing anything commercial.
PMO are just not that stupid.
As for 'buying' XCD, what is the benefit to 88E shareholders?
It may be a long term asset for a Cash Rich oil company.
But it is a short term liability, with expenditure on staff, leases and prospecting already waiting to grasp our much battered check book. Which contains shareholder cash.
DW will be a beneficiary because he already owns over 4% of XCD which roughly translates to him gaining 15% of 4,3% = 0,65% of 88E shares. Added to his already large pile.
This move is beneficial to Directors and detrimental to shareholders.
Unless, contrary to AIM and ASX Rules, important information is being held back, info that could affect 88E SP.
If XCD were anywhere other than West Perth, this rubbish distraction would NOT be on the Agenda.
Next week we could see merger with - RMP? Ha.
The classic Ramp and Dump of Winx fame.
The 88E are losing their focus. Which is our land leases purchased from 2015 with shareholder funds. And for most of the last 5 years it has been pretty idle space.
Phrontist.

Our BoD have found the wrong friends.
The Western Blocks was a group where:
None had drilled successfully in Alaska.
None had deep pockets.
None had success as part of their history.

Yukon is a shot in the dark surrounded by unseen potholes.

If we were to Raise the Flag, interested buyers call here, who should we be talking with?
Armstrong, a man with Alaska experience, Alaska success.
Likely a few others in the region that could contribute.

But it is time to raise the For Sale sign on AEA.

Phrontist

Eal, join the fairies.

Jointly with BEX, we are sitting on almost 500,000 acres of land. De-risking this has proven beyond the resources of this company. The sad moment was when Paul Basinski died. Because he was our technical leader and guru, a wonderful man, focused, experienced beyond abilities of most other oil men.
Unlike many, I do not criticise DW and BoD. They have fought a tough battle, including the mysteries of Icewine-2.
It is now time to realise a Big Player is needed to take this site through 3 more years of exploration and 20 years of production.
Phrontist

This scheduled line of RNS's can lead to only one certainly in 2020 - another Capital Raise from loyal shareholders.
Phrontist

The Charlie-1 well was capped and abandoned with no prospect of doing an oil flow test on any of 7 layers.
PMO have walked away from $23m investment on basis there is no commercial oil after high tech examination.
What has changed with this RNS?
Are BoD suggesting Lab Work can reverse this field work?
And make PMO look like biggest idiots in oil industry?
EVEN if bod decide Lab Work suggests to look again, we need another FO partner to risk another $20m or so.
Them to find and sign up for Field Work next Jan-Apr.
Impossible.
Conventional success on Central North Slopes will only happen when a Major Player with deep pockets and experienced teams decides to buy Accumulate Energy Alaska from 88Energy.
Bod need to take a realistic look at this question:
When will 88E, after 6 years, actually receive money for an exploration resource?
2020 - No
2021 - No
Etc
Phrontist

Neversat, DW says to you:
If condensate is commercial then the audience is not just producers on the slope"
He simply means, 'commercial condensate' will be in demand from a wider variety of companies beyond our local North Slopes operators.
I think the reason is, a commercial, large condensate resource will support a pipeline connection from Charlie-1 area to nearest condensate pipeline elsewhere. Maybe using 1 ft diameter plastic coil piping, pretty low cost to buy and lay.
Phrontist

When is 7 days not 7 days?

Phrontist

"In the event that I am reincarnated, I would like to return as a deadly virus, to contribute something to solving overpopulation"
Prince Philip 1988
Phrontist

Our short/medium term is:
SPUD - one week
Wire line test results - end March
Two oil flow test results - late April
HRZ Lab Test results - late June
HRZ Farm Out - during 2020?
PMO confirmation taking second conventional JV - Q3 2020
OK, some assumptions of strong Charlie results, but this is how progress could go during 2020.
Also, don't forget a possible 'Cove Energy' effect - big buyer makes offer to buy Accumulate Energy Alaska - H2 2020
Phrontist

88E not responding well following reasonably positive RNS.
But BP and PMO, for example, have dropped far more, today and over last week.
Ultimately we should not take every SP micro movement too personally.
Phrontist

All SP needs is a sniff of oil at 5,000 ft....
Phrontist

We share the Charlie-1 Drill Project.
YET....
PMO SP has now risen above 100p.....
and 88E SP still struggles with every small step....

of course, there is more to this comparison than such simple reflection.
The good news is, PMO shareholders completely believe in what PMO are doing.
Noting this upcoming shared drill project is costing them $23million.
OK, we have little direct cost on Charlie-1, but 88E shareholders have funded 88E much more than $23m to get this far.
We have cash in the bank and low overheads.
We are owed more than we owe.
The planning and investigation into Charlie-1 must be one of the most extensive pre-drill investigations going.
I realise Daedhorse is about 4,000 miles away
BUT....
I smell oil, a lot of oil, high grade oil too.....
Phrontist

Lokking,
The double failure of Icewine 2 followed the short lived Winx failure caused many LTHers to lose substantial funds.
Some realize that a new exploration site may require possibly half a dozen drills before commercial oil flow success. But this is beyond existing shareholders support. And, it seems, attracting substantial new shareholders is not easy.
This drill has been preceded by substantial Seismic, computer and geologist work for, I think, over 3 years.
Our pre-drill knowledge is substantial. Our opportunity to prepare for all problems and outcomes puts us in solid position from SPUD to Oil Flow Test, and subsequent lab tests and more computer analysis.
The addition of Premier Oil as FO Partner adds to our work considerably. Their many years of experience led them to invest $23million in this Charlie-1 drill program.
You could say, 88E have learnt from some hard experiences.
Myself, I believe all 8 resources being examined and tested is more likely to get 100% success than 100% failure.
IMHO from optimistic Phrontist

This is a never ending tragedy.
Every day on TV News the fire spread is getting worse.
Our sympathies from UK, other side of world.
But what can we or anyone do about this?
Now argument rages about Aussie coal exports, $42b last year.
This weather change situation is a global problem.
Phrontist

Whoa, careful with those £100,000's buying 88E shares, soon you will catch me up!
Phrontist

I don't know how influential oilmanjim is, but any publicity to bring in more investors has got to be good.
Thanks for the info lokking.
Phrontist

similar to Cove Energy
where Dr Steven Staley was a director
Phrontist

Only 12 hours to first Market Opening of the year - ASX
Let us hope for steady continued rise over the 5 weeks to SPUD.
Happy 2020 to all true 88E investors.
Phrontist

Proselenes
Where have BEX 88E PMO advised that targets 1 to 4 are expected to fail?
Phrontist

At 1.32p, a reasonable end to 2019 Year considering the miserable time spent below 1p, even below 0.7p.
LTHers needed strong hearts to come through this still believing in Central North Slopes oil goodies.
2020 is opening for BEX/88E/PMO on a positive active gameplan.
The biggest single Drill Program registered for 2020.
7 convential resources and one unconventional resource.
ASX has its say on Thursday 2 January before AIM even Opens.
Will 88E start with a strong RNS? What could they say that is new?
But notwithstanding the ASX Open and Close positions for 2 January 2020....
....I am sure AIM will open high, above the 1.32p close today, perhaps at 1.4p
A completely failed Drill Program is highly unlikely.
This based on over 2 years of both field and technical work.
Latest technology taking Seismic 3D, computer processing, geophysical analysis.
All those pretty pictures we see in RNSs actually mean something. )))
I hoped to end 2019 with 2p. But this now seems likely by mid January.
A less than perfect Drill Program should still produce at lease one commercial conventional find.
A reasonable oil find success could produce half of the estimated 480 MMBO as 88E's share.
Sell On price of $3/b x 240M = $720million cash payment to 88E.
That is $0.11/share = 8.4p/ combined SP / share dividend / Capital Refund.
If resource sizing, oil flow test and oil quality are good, over $3/barrel could be improved on.
And if more than half the 480MMBO can be improved on. Then 25p/share is possible.
With HRZ, Western Blocks, Yukon, as yet undiscoved unconventional on North Slopes, together valued at NIL.
It will be interesting to discover how BEX/88E management handle this 'sale' in H2 2020.
Going for the cash will strengthen 88E/BEX Balance Sheet and position for further conventional work.
And open the door to HRZ, the massive one, if this nut can be cracked.
2020 will be a great year. Happy New Year to all 88E Investors.
Phrontist