Member Info for Phrontist

So, if you believe in this dream, a technology based business, a massive oil resource, then make you have a few shares in 88E.

Simples.....

Phrontist

HRZ and the Sweet Spot are an underground layer of oil soaked rock / sandstone material stretching across a vast area. I would suggest that Company Confidential are the words and reasons for very tight information control.

Who knows exactly how far this resource stretches? The 88E / BEX team work on this based on PB's ingenuity, determination and historical work.

This may not be a one-hit wonder but decades of continued oil resource discoveries.

Phrontist

And besides being a hard worker he is professional towards all others involved in Central North Slopes of Alaska.

To hint taking knowledge to the grave is a poor joke. 88E / BEX have a team dedicated to ongoing development of the computer based work founded by PB.

His ambition was for charitable donations to come out of this project, my feelings are that BEX and PB's family are continuing that wish.

Phrontist

Following the Half Day Open on Monday, the next full Open Day on Exchanges is:

Wednesday 2 January 2019

Missed typing:

ASX closed at 1.7c last week, so we need 7% rise from them to help us along.

P

I shall be looking at ASX from mid-night - will you?

See how the Aussies progress.

Exchange rate is 0.55 £ to Au$

The hoped for LON 1p = Au$ 1.82

ASX closed at 1.7c last week, so we need % rise from them to help us along.

Phrontist

Mon 31 Dec 2018 is half day for both:

ASX Australian Stock Exchange (not sure, open for 3 or 4 hours likely)
LON (LSE) London Stock Exchange (8.00am to 12:30pm)

So chaps, will we get a FINAL 2018 RNS of any kind?
Or possibly a smaller 'progress' type RNS?

Will 88E SP pass the 1.00p level?
Ready for steady climb in 2019?

Ha ha. We have had 4 years of this....

But no question, 88E is in very promising shape for quite a few Big Events in 2019, including a few good RNS's within Q1.

The company has been hit by some tough events such as Icewine 2.
But BoD have been resilient, sought solutions, expanded Projects from 2 to 4.

The use of professional sub-contractors has strengthened our ability to move forward in professional manner.
My estimate is we are running at 20 to 25 staff including sub-contract people.

Very exciting times in 2019

Phrontist

I feel sure that in January or February, a day will arise when this lackadaisical SP will suddenly rocket skywards from panic BUYING.

The market will realise that many good things are imminent.

And more announcements will continue to roll out on a regular basis for 18 months.

88E / BEX will have made it into the Oil World for many decades to come.

Phrontist

cjml

A consortium of Specialist Companies from Texas could create a bid and business that can outdo Tier 1 Companies.

Tier 1 will be great, no question.

But alternatives should not be written off.

The key for us is, full Short List of 5 credible bidders to choose from.

DW has not mentioned a Final Date for bids to be submitted by.

Has a Final FO Bid Date been set? This is the professional way.

I cannot visualise an 'open date' situation. But the size and complexity of such an operation is vast, beyond anything we can imagine.

Phrontist

So hope to see how SP trends.

Meanwhile, a very special thankyou to Brom. You have been mainstay of this active 88E discussion site.

Sometimes fun, often emotional, sometimes devious, posters here come in all forms. But you have been a constant of help and information supply.

Phrontist

Happy Christmas everyone.

Will Santa be kind to us?

Three trading days to go.

After 4 years of graft we are poised for excellent 2019

Phrontist

cat

Trump has a strategy, it just that you and many others have not spotted it.

He has IQ over 150, highest of any President ever.

He confers in private with wide spread people, not just cornered into Washington politicians.

His internet posts are a cover for real thoughts and actions, most people fall for it.

Advisors are just that, to research and advise. It does not mean every bit of advice is correct, appropriate, etc. Mostly, they do not have authority to instruct or command. Just advise.

Trump has eyes on only one enemy, and their land starts just a few miles from the Western tip of Alaska.....

Phrontist

Forgot to mention, the Chinese will be happy to be paid with barrels of oil and LPG.

Trump will like that. Chinese will like that. And low cost pipelines will be liked by us and all players up there....

Phrontist

The Alaska Government have the most significant vested interest in future oil production in Alaska.

They get tax from every barrel produced.

Social Services payments can be reduced complemented by rising employee tax when Alaska citizens are employed.

Prudhoe Bay oil production is on the wane. What can replace it - new oil finds in Alaska obviously.

88E/BEX is not alone in this quest, but we can become significant.

I am sure Alaskan Gov want existing incumbents of Prudhoe Bay to continue and grow. Meaning hundreds of USA based business including BP (over 40% USA owned), CP, ExxonMobil, Haliburton, Schlumberger, etc etc.

The Chinese like to bring in their own nationals which will adversely affect Alaska tax revenue and local employment.

I read recently that the Prudhoe Bay 'team' was headed by BP within consortium of them, CP and EM.

There are many obvious reason to think this is the best 'team' for Central North Slopes development, for 88E/BEX and for Alaska Gov.

If the Chinese are keen, give them some pipeline work.

Phrontist

csw12, I used to be in computer system sales in City of London.

This is a place that understands the expression:
Time is money.

In this case, time is our money.

In those days tenders were issue with Terms & Conditions.

Many Bidders would not spend time and money submitting a tender if they knew the Client (88E here) was going to bend a few rules that preferred one or some Bidders, but not all.

Easing off a bit, my feeling is this.

This project at production level is vast.

The bidding process for both 88E and the Bidders can be revealing as to the commitment required by the winner.

Meaning, there is more work than one or two companies can sensibly handle.

So, re-group into Consortium's.....just a thought.
That could be fair on all Bidders, and provide better result for 88E.

Just some thoughts, Phrontist

Spinefx

Yes, I like your optimism.

I have days like that, but today is not one of them.

I am beginning to think our 88E Directors are learning on the game.

The company would benefit from a far more experienced and ruthless leader.

Current plans will not produce a single barrel of oil from Central North Slopes during 2019. Even though this has consumed some 95% of shareholder funds IMHO.

So, in 2015, did you think that 2015, 2016, 2017, 2018 and now 2019 years would not produce a single barrel of oil from Founding project of the JV?

In 2016 with Icewine 1 success we all thought the nut had been cracked.

No sign of oil, until 5th year later.

Do you remember any Plans and Schedules (RNS's) that even hinted at this timescale?

We have spent too much time and money diversifying.

Small 3D Seismic followed by Exploration well could have been done years ago for conventional.

Unconventional Specialists should have been brought in from first Icewine 2 failure.

The vast assets are still there (as mentioned in 2015/16), we just can't get our hands on them.

Phrontist

Jiddy, I always look on the bright side. Ha ha.

Bright statement: I am 100% sure we can all be rich by 2025. Yippee.

No one seems to care about Task and Project timescales. I have mentioned this before at length a few months ago. No one cared then either, heavily criticising me.

Now stretched shareholders are asked to pay up for never ending time required to produce first barrel of oil. We have not finished complaining and suffering over this recent Capital Raise from an already crushed SP value.

88E is becoming like my bank, hand stretched out for exorbitant interest payments monthly.....

Phrontist

WAussie, I state the known....

They have had (almost) 6 months.

At short notice, now adding 3 months.

What requires such a large amount of additional work???

Bidders requested extension?
Such Bidders that could not complete their bid in the 6 month period.
But presumably some Bidders have completed their Bids on time.
It seems On-Time Bidders are being penalised by 88E allowing Slow Coach Bidders more time at short notice.
50% more time. This is considerable increase.

DW told me in a Question reply that Farm Out Contracts are pretty straight-forward.

Ummm, well, so be it.

Under the circumstances (shareholder pain) I would have thought 88E could have told us some detail about the contract. Something financial.....I cannot see the Bidders would be unhappy about that, in return for such a massive bid-time increase.

Phrontist

Original timescale for Conventional Farm Out Contract was 1 July to 31 Dec 2018, six months.

DW has just added Q1 2019 - 3 months.

That is 50% over-run on timescale.

Possibly 9 months in all.

Why? Exactly what are the reasons?

Of course we are pleased that the Farmee 2020 part of the schedule will not slip.
(Commission 3 conventional oil rigs to production level, possibly multi-level capability)

But meanwhile the SP languishes in the doldrums causing many shareholders to suffer loss.

(20 Dec 2018 to 30 March 2019)

Phrontist

SP has 7% rise after 2 hours on ASX

Aussie comments on HotCopper are all positive about new RNS.

Phrontist