Member Info for Phrontist

I think 88E / BEX will develop into a mix of exploration and production, hence the £3/ share figure.

Yes, I am positive, optimistic and openly a tamper.

And you?

Phrontist

Ooops, I hate using mobile for this.

£1.25 at end should be 1.25p

P

Guessing SP in the short term is difficult, always will be.

But the long term prospects improve, often a bit behind the scenes.

Our oil resource pool is estimated nearly 5 bbo.

Well managed and in time the BoD and developing team of staff will have it de-risked. Hopefully Winx-1 will oil the wheels of progress. Shareholders have been at their limits with CR's followed by little visible success.

One big thing to give 88E a following wind is High Technology. The rate of improvement in all areas relating to oil exploration and production is remarkable, and continuing at a pace.

This makes commercial extraction of our resources more possible, likely, efficient....

Winx-1 does seem likely to succeed and can then be the catalyst for 88E SP to finally head northwards in relentless rise to £3/share.

SP at £1.25 is grossly undervalued.

Phrontist

Next week you will need second mortgages to reach buying price of 88E.

Suddenly the market will realise how undervalued we are.

2p next week is possible, if positive Winx-1 progress comes out. Even without RNS.... I'm surprised it is not 1.5p now.

Buy end of March SP=4p is quite possible. Either by amazing Winx-1 progress or great FO or combination of both.

Remember, SP=4p happened couple of years ago. Since then great deal of progress, though at times it does not seem obvious. So 4p now seems a little light.

My dream - horizontal well upgrade on Icewine 2 with successful Oil Flow testing this summer, financed by Winx-1 success.

So many possibilities now, this bud is blossoming into big flower...

Phrontist

Aaannndddd:

Watch the Aussie Market go Crazy Upwards tonight.

ASX:RMP guys have seriously been waiting for this positive break.

Phrontist

Is it cheaper to:

Buy up RMP share of Western Blocks at $3/barrel in a month or two,

OR

Buy up RMP company at 7p/share now?

Exchange rate is 1 £ = 0.76 US$ (only using US$ not Aus$)

120m barrels x $3 = $360m to buy RMP share of Winx-1

£0.07 / 0.76 = $0.092 / share
525m shares has value = $48.3m

360m/48m = 7.5 times

Put another way, current 7p share price undervalues us against final asset SALE by 7.5 times.

At 26p / share on London Market, RMP is still only valued at 50% of its asset sale price.

What does this mean?
Volume buyers could come in knowing where the SP is going.
Even a preliminary buy-up prior to Bid Offer....

The downside risk is: we don't achieve 120m barrels for RMP's share of oil find.
But even if our find is half this, company value will rocket.
Some people are suggesting over 2 x the 120m

Downside is small, upside is MASSIVE.

Phrontist

sheps, you are a naughty boy with this type of deramping.

I have both...

But we are on RMP ATM, so

You must be clueless, it is obvious today that there are some big finds at Winx-1

RMP have no debts, they have cash in the bank.

RMP have minimal other risks.

Simple calculations show that this could be the best BUY of 2019.

All companies have a downside, but I think we are past the break even point of potential loss.
This company will be snatched out of our hands by avaricious Production Outfit.

88E is too large for such a quick and simple 'deal'.

Phrontist

Is it cheaper to buy up Western Blocks at $/barrel

OR

Buy up company at 7p/share

Does not take a genius to work this out....

Phrontist

PS there are some variables - oil price, size of oil resource, etc

And for my next trick.....over 7.2p....

Phrontist

PS someone knows something

01234

Ha ha, I have a foot in both camps, like many others.

Doing the splits? Painful at times, but today is the first day of a great 2019 for both companies.

Phrontists

Our 4 companies own these Western Blocks.

Just remind yourself, look at map, and where we are.

By end of March EVERYONE that is anyone in Oil Production is going to want our Leases.

Phrontist

dam that spell checker...
G = GB = Greg Bandy

I think G is aware that you can get $3/b with a successful Winx-1.

But he is also aware that if RMP and Friends do the production, then we get $25/b or more after production costs.

Think about it.....

Phrontist

Greg Bandy....he's a star

I had 2 hour chat with him few months ago. He has in depth experience and wide range of contacts. And was quietly confident this Western Blocks JV would be successful for all participants.

Still a few weeks to go, but writing is on the wall....

Phrontist

Sniffer dog is an extraordinary able specialist.

Maybe I should use polar bear, they have over 10,000 times better smell than human. But not so easy to train as dog.

Maybe I should use Isambard Brunel. Most successful human constructing with steel. He could not read or write. But his instincts in design with steel were century ahead.

I am suggesting that a top specialist can do things way beyond the typical alternative options. And PB was a top specialist, with instincts and experience that cannot be replaced quickly.

Phrontist

Karaleva

3 years ago the company had a single specific mission.

Unconventional, HRZ, Central North Slopes Alaska

Vertical well followed by horizontal upgrades

Investors were attracted by PB's conviction. Impressed with his success within Conoco Phillips, impressed with his 5 years or more research into Alaska geology. Concept of sweet spot, the vast underground 'matress' of HRZ.

We had focus that shareholders could follow. A small business but we could carry finance needs.

Since then, massive diversification. More land. Yukon. Conventional. Western Blocks.

We do not have the financial strength to carry all of this through.

Winx has put us in a new position. Success and we can climb out of this big financial burden.

Failure is hard to contemplate.

Low SP. Pathetic attempts at capital raising with two failures behind us. Merger. Being taken over.

All options are way below shareholders expectations 3 years ago with just Icewine 2 to resolve.

Phrontist

Then the JV between Burgundy and 88E.

We were backing a

Dog = sniffer dog

Chartman, spell checker can play evil games....

The death of PB is a loss to friends and family, he was a wonderful man.

And at a professional level he was a very successful, dedicated and experienced geologist.

At these times I think we miss him, significantly so. PB and DW were joint CEO of the Alaskan operations.

And to me anyway, PB was a human equivalent of an dog, but for oil of course, no drugs.

His education, experience, instincts were 50% of our leadership.

And DW is the other 50% on organising, finance, planning, front man, etc.

88E needs a replacement geologist IMHO. And times like this show us up for that weekness.

So, I not always blame DW, he simply has a partner in crime missing.

Phrontist

We all have a little paranoia, particularly under this kind of pressure.

I think it is true to say, DW himself is backing the 88E ?? to the hilt. He gets preferential share options, we don't.

But he has spent a lot of his own cash on 88E shares, often at prices much higher than today's SP.

I think all 88E staff have exactly the same feelings, wishes, ambitions etc as us.

There is no manipulation.

And with up to 8 companies being MM's manipulation at that level is nigh on impossible.

Our SP like many AIM SP, can be erratic. This is because we do not have substantial solid balance sheet.

Phrontist

Chairman

I am both a shareholder and a diverse thinker.

This company has major opportunities. The team are good. Yet there are many opportunities to make right or wrong decisions.

It is good to examine all aspects of what we see. Noting that 88E probably know 10 times more than us.

A long and winding road....

Phrontist