Member Info for Phrontist

Thanks Richyp, but

How do I register?
I have looked on RMP web site, nothing there...

Phrontist

Richyp or anyone:

What day / date is this evening session on?
Today?

Phrontist

Good movement this morning to 1.15p but it should be 1.51p.

And who knows, next month 5.11 is quite possible.

Winx drill plan is quite amazing with many bites at the cherry possible.

Phrontist

LeMajor, wind farms and solar power both use electrical storage back-up techniques to effectively supply electricity 24/7/52.

Two common methods are Twin Reservoirs and Lithium Battery.

Elon Musk with Tesla supplied a massive Lithium based back up system to South Australia Electricity. They supplied a 100GWatt system within 100 days of order.

Prudhoe Bay oil exploration and production was over 30 years. It is still going though the oil production levels are declining.

So how long do you think final exploration work and oil production will take? Over nearly 500 square miles of Central North Slopes? This is a vast area.

The conventional finds of 2.5 billion barrels approx. were made over a quarter of our area, maybe a third.

The bidders will have experience about this point. But how much conventional oil will they estimate can be found and extracted over 20 years? 8 billion barrels? 10, 15???

Prudhoe bay had lead production carried out by BP with partners Conoco Philips and Exxon Mobile. Three very big Tier 1 companies. With endless sub-contractors of Haliburton, Schlumberger, etc.

Can you imagine how much kit, gear, drilling rigs, infrastructure buildings, roadways, trucks and transport, communications, etc etc they have up North from us just a few miles. Words cannot describe the amounts and its capital value.

So, many bids being submitted will struggle to create an operation that can handle the full oil resource we have discovered and not yet discovered.

Then BP, CP and EM suggest a new Consortium Bid?

Would you say no, the deadline is next week? Ha ha.

You would say YES, please re-submit a Consortium Bid. I think a date was proposed and agreed, but not revealed to us.

Just IMHO. Phrontist.

Sageman, your adverse comment on DW is unfair.

We now realise that PB had been ill for some time before unfortunate death due to heart problems. God bless his soul.

Icewine 2 was PB's baby. He knew everything about that project, for him it was some 6 years in the waiting.

88E were / are the Field Operators. Organise rig, endless other apparatus, chemicals, staff, licences, permissions, etc.

PB decided where the rig should go and why based on his geological knowledge.

PB's declining health must have left DW in an impossible position. He and his family have my sympathies. The timing of Icewine 2 could not have been worse.

And MM of BEX, like DW is more of a business man than geologist and oil man.

A new technical team has been assembled in tight secrecy. There are technical and commercial details that competitors would dearly like to possess.

DW and MM manage the whole North Slopes process now, through the Accumulate company with Eric Opstad as Alaska General Manager.

I dearly hope Icewine 2 will be operational this Summer. The companies reputation will be high, the past forgotten. After all, many oil exploration areas take 4, 5, 6 even more years before pumping oil. We can't just send a chap 11,000 feet down there to have a look....

Phrontist

Postman - dreams....

Aberdeenman was a transient investor of 88E. He is a semi-professional investor and share dealer. Moves from company to company buying and selling.

For a few months Aberdeenman was here, but since he has gone elsewhere.

He was active in a new small group of UK 88E investors to encourage Presentation and shareholder talk with DW and PB in City. But many people were involved, not just him. He was one of a few who were reluctant to give out his real name for Attendance List. Ha.

His knowledge of oil industry was limited, like most of us here quite frankly. We research, read, discuss, learn. But most of us are not on the inside track of oil industry.

garrym said he worked on oil rigs. He certainly spoke with what seemed like first hand knowledge. No bullshit, just interpretation based on his real experience. He was informative during the Icewine 1 drill and aftermath period.

Icewine 2 behaviour has remained a mystery to all for over 2 years now. The only people that know are 88E, BEX and sub-contractors on investigation and recommendation.

We all hope for a release on this sometime. I guess after Conventional FO Contract is concluded AND Winx has proven itself. Meaning possibly early Q2 2019. Assuming they are successful, 88E/BEX may deploy some of the money onto Lateral Well work on unconventional. Prior to Unconventional FO Negotiations.

As usual, we wait and see, RNS's are the only facts and truth.

Phrontist

Who bets on horses and dogs?

I think they call a series of bets an Accumulator.

We should be thinking of a 4-bet Accumulator of 10-baggers.

The maths is too much.....

Phrontist

The 3D Seismic work for the Yukon Gold area must surely be close to complete.

If these results are good, this could be another FO Negotiation starting during 2019 Q1.

Who said Christmas comes but once a year? Need to re-phrase....

Phrontist

I agree, Yukon is looking like a very nice little earner for a smart production outfit.

50,000 barrels/day x 200 working or functioning days/year

= 10,000,000 barrels per annum

Who can be sure in two to ten years time....
But I suggest $40/barrel gross margin (after extraction/delivery cost)

Gross margin to production company:
$400,000,000 per year for average 12 years.
Quite incredible if this production level and oil quality actually occurs.

Suppose we sell on the leases for the 'famous $5/barrel' resource:

$5 x 120,000,000 barrels resource =
To 88E: $600 million.

Just amazing. Truly so.

Of course the doubters will suggest ridiculous and impossible.

Maybe they are right.

But if Rockefeller were alive and watching today, he would be smiling.

Because this is how he became richest man on the planet.

Phrontist

I think

GB + NI = UK

Politically, no part of Ireland is part of Great Britain.

In practice, we are all mixed up over the centuries.

Phrontist

RMP is in a safe place.

Best opportunity in its history.

Good JV setup, finances sufficient for task.

Located in a very oily place.

Project results within three months.

Conventional, easier and less risky than unconventional.

Safe country to be, safe on-shore working.

Basically very low downside risk.

And outstanding upside gain opportunity.

Buy or sell - the decision is yours.

Phrontist

Jon

Your insult will now be tested.....

Phrontist

From 08:00 to 09:40 dealing on HSBC Investor Direct:

Whilst Investor.com and Google/Finance show SP ranging from 3.7 down to 2.91

HSBC on BUY has remained very close to 3.34p for the whole period.

Worst has been spread Sell 2.72 - SP 2.91 - Buy 3.34
Spread of 18.5% (crazy....)
It took HSBC 40 minutes to complete one transaction

The RMP price is unstable ATM...but why?

Prospects are great within JV and Winx progress with likely positive outcome.

ASX:RMP was hit by posters strongly suggesting a Cash Raise by RMP

This seems pretty unlikely.

Why would BoD try to raise cash when SP is in such a weak state?

Why would BoD try to raise cash when likely SP is 6p by end of January and 12p by end of February?

RMP directors are also share owners. Not likely to kick themselves in the face....

IMHO, the RMP SP will stabilise over coming week, and upwards again.

Happy new year to all, Phrontist

Go baby, go....

Little downside, considerable upside

Not forgetting over 5 billion barrels of oil across 4 projects

Eventually could be 10 billion since we have hardly scratched the surface of our leased land area.

Phrontist

ASX 88E is up 5.88% to 1.8c

A move in the upward direction...

Phrontist

Yes, we are back to see the ASX Show on HotCopper 'TV'

About midnight start.

Will we have an RNS?

Will Australian SP pass 2c?

Au$ 2c x 0.55 = LON SP 1.1p

Lets hope for a brisk and positive day tomorrow. We need 11% rise!!!

Phrontist

I was going to name them:

Conventional and Unconventional

Ummm, but these are mouthfuls to shout when calling the dogs home. Cumbersome.

Then I think of two neat names - Winx and Yukon?

Yes, much better names. A likely pair of puppies, appear in our lives from nowhere. Now they are taking over our attention, feelings, time.

Started 2018 with only small thoughts about buying a pair of pet dogs. Now starting 2019 with a right lively pair, barking and running all over the place.

Also Winx is about to have 'drilling costs' and Yukon is in middle of '3D Seismic' costs.

But once the vet has completed these operations, both seem likely to win local beauty and fitness competitions. )))

Winx looks the front runner because my two cousins are sharing in his upkeep. And his father still retains an interest in him.

But Yukon is closer to me, he does not give much away. Hidden talents. Parents were famous dogs. Yukon could win a big competition coming from nowhere. ))

Sigh. I love my two dogs Winx and Yukon, they are popular with friends too. Different characters but they seem to look after each other, often eat from the same dog bowel. Ha.

So in 2019 H1, I will feed them both with excellent food, take them for lots of interesting exercise, engage with many friends.

Then during 2019 H2, I am sure both Winx and Yukon will win competitions with excellent financial prize money. And I can read about them with smiles, as Internet Sites discuss their amazing success.

And I sit quietly with fat bank balance. And plan a breading program, with such pedigree performance....

Phrontist

We have had 4 years of preparation.

Now it is time for 4 years of results.

Phrontist

End 2013 SP=12.37p
Traded as Tangier Oil

End 2014 SP=0.725p
Tangier project failed, old BoD dismissed, BV creates new strategy
New BoD appointed in April 2014 by Brent Villemarette – SS, ME and DW (MD)

End 2015 SP=0.35p
Now operates as 88Energy in Alaska based on JV Contract with BEX (PB, MM)
Icewine 1 spud Oct 2015 in search of unconventional oil strata

End 2016 SP=2.45p
HRZ core recovered from 11,000 ft
Late Q1 2016, SP peaks over 3.8 for short time
Feedback excellent on oil content, quality and recoverability

End 2017 SP=1.55p
Icewine 2 drilled, proppant forced in, short soak
Insufficient pressure to raise out 30% proppant
Oil flow test not able to run

End 2018 SP=0.985p
8 month soak in on Icewine 2
Icewine 2 failed to raise sufficient pressure even with gas lift
Second oil flow test not able to run
FO contract planned for H2 action and completion
Negotiation work is going well, more time needed, completion set for Q1 2019
Yukon Gold lease purchases conventional
Western Blocks JV created multi-layer conventional
Creation of strong technical team developing from PB work

End 2019 SP=15p to 30p (ooops), depending on:
Conventional FO contract signed and 3D Seismic complete for all North Slopes
Lateral HRZ oil flows in Summer 2018
Unconventional HRZ FO negotiations completed
Winx-1 conventional drill was success, sell out complete for cash
Yukon Gold 3D Seismic show substantial resource with plan to monetize

End 2020 SP+Capital Refunds=150p (oooooops)
Conventional FO was success, now sold leases

End 2021 SP+Capital Refunds=300p (ooooooooooops) includes both oil projects
Unconventional FO was success, now sold leases

End 2022
88Energy / BEX now expanded into new territory based on Knowledge Base and best practice experience.
New leases, JV's, Buy-Outs

Phrontist