Member Info for Phrontist

Lets see what the Aussies think with some overnight SP-watching. Rise or Fall by Thursday 20 Dec morning?

Phrontist

Important rhetorical question:

Is this RNS strong enough to attract attention of larger investors?

The likely SP value in mid-2020 has improved to my mind. The company is being more thorough at all levels stretching out timescales but reducing chance of failure as dropped on us by Icewine 2.

But the SP value in 2018 may hold steady. Then rise Q1 2019 with both Western Blocks and Conventional Farm Out reaching visibly successful results.

Phrontist

DYOR81 you say:

You can discount existing bids. If they were material enough, we wouldn't be extending the bid.

This is a good point.

But it is also possible that some Solo Bids are re-grouping as Consortium Bids to strengthen their ability of handling such a vast project.

This option, if it is occurring, could not have easily happened sooner. The experience of bidding with feedback enables Bidders to see their own strong points and weak points.

Phrontist

Perhaps I try to answer my own questions on HRZ.

It seems considerable work at a deep technical level has been carried out. Thoughts so far is that HRZ will be an oil producing winner.

But hints are that much more work needs to be carried out.
It seems likely that Farm Out tenders will be invited mid-year but this process will not be complete with selected partner until after Summer 2019.

This is a blow to shareholders.

Arctic weather is such that Unconventional Oil Flow Rate using horizontal upgrades lead to Summer 2020 for proving Unconventional HRZ on Central North Slopes.

So we now see why dash for small conventional projects has been introduced by 88E BoD in particular. Meaning not by Burgundy at all.

Western Blocks and Yukon Gold projects will occupy much of 'visible' progress in H1 2019.

In particular, from a public relations image viewpoint, Western Blocks success has become crucial for H1 2019.

Then quite possibly Yukon will shine during H2 2019 with great 3D Seismic results and Farm Out contract.

This leaves 2018 with considerable work achieved, but the two key projects failing to perform in a manner that raises SP.

Phrontist (just some thoughts to throw in others)

All to be expected, confirmation rather than new news.

Except one item.
Naming Baker Hughes as the company doing Icewine 2 / HRZ / Unconventional investigation.

DW - Can we see a copy of the 'initial' HRZ Review please?
What parts are 'encouraging'?
Please advise dates on HRZ Farm Out process.
Will timescale allow Winner to 'do work' on Icewine this Summer?
Is it encouraged / planned for Horizontal Upgrade?

Will any kind of Oil Flow Rate Test be achieved Summer 2019?

Phrontist

Highlights

• Multiple high-quality parties active in conventional dataroom
o Deadline for bids extended due to request
o Deal now targeted for 1Q 2019

• Initial HRZ review by Baker Hughes encouraging
o Additional value add analysis now underway ahead of finalising farm-out package

• Yukon Leases - 3D seismic processing continues with inversion now underway

• Western Leases – Winx-1 exploration well on schedule for February 2019 spud

Phrontist

As usual DYOR this is an informal chat line.

All IMHO etc Phrontist

Sorry this little mobile sends part message part way through.

AEA is an Alaska, USA registered company. It is the legal vehicle enabling 88E to conduct business in Alaska.

AEA owns all Central North Slopes assets and has staff such as General Manager Eric Opstad.

AEA is a closed company meaning shares are not available on any Exchange's.

Yukon Gold is owned by a separate 88E subsidiary, also an Alaska registered company.

Will Farm Out contract be with AEA, 88E, BEX or combination? I have no idea.

I think Eric Opstad is employed by AEA and possibly few others. Eric is General Manager of AEA in Alaska.

Phrontist

Mikemike

Accumulate Energy Alaska is a private held 100% owned subsidiary of 88Energy based in Perth, Australia.

Keefy, continuing,

88E is not listed on a USA Exchange, so easy buy/sell of our shares does not occur in USA.

But clearly some USA parties may wish to invest in 88E.

They could do this through London, Frankfurt and Australia Exchanges if they have appropriate financial services within their reach.

Phrontist

Keefy

Listed company sends Release to Exchange any time prior to Exchange opening.

Exchange releases RNS on opening time.

If a Release is sent to LON at 7am, it will be released by LON Exchange at 8am, the opening time of LON.

If Release is sent to Exchange during open period, it will be processed and released as RNS within minutes IMHO.

Phrontist

It is worth adding,

When a large buy/sell contact is signed, the Buyer and Seller usually agree a common Release Time.

Another thought is,

Maybe such a n agreement has to be approved (rubber stamp) by Alaska authority. What delay can this add?

Personally, I am not blaming DW and BoD for any delays, I feel they have followed best practice.

But still, such little information for shareholders on 95% of our business seems to me to be 'bad practice'.

I am sure DW is aware but he could be trapped within conflicting forces...

Phrontist

Kerry = Keefy
Cursed spell manipulator.

Kerry,

BEX is based in Houston
FO Negotiator is based in Houston
90% of fracking world is in Texas
CP HQ is in Houston
ExxonMobil HQ is in Houston
BP HQ is practically based in Houston
Etc

I would suggest Houston is the USA oil capital.

Big business, smart money, legal services, technology services, crude oil dealing, R&D, etc is all centered in Houston.

Phrontist

LeMajor

88E BEX have engaged professional expert Farm Out negotiating company. Bidders do not play games or force own agenda.

I do not know the steps being followed in an FO tender, but DW says comparatively straightforward and known steps are followed.

Jiddy, I have had a large question / answer exchange with DW which revealed little. I can copy it to LSE if you like.

His bottom line is, information is given out in RNS's.

But as I point out below, almost 6 months of no releases on 95% of the business is not what shareholders should be forced to accept.

Phrontist

Conventional Farm Out is taking lead position on our attention.

But HRZ is still the key part of 88E BEX.

It is over 4 months since specialist team were contracted to investigate nature of problems and directions for Icewine unconventional future.

How has this gone?

Has investigation produced satisfying results?

Will we plan for horizontal upgrade to Icewine 2 in Summer 2019?

Will unconventional progress become part of the Farm Out contract now being negotiated?

Shareholders really have very little information on progress of 95% of the 88E business for almost 6 months now.

Phrontist

88E is Australian HQ so ASX is natural first choice for RNS release.

But 88E can release RNS from LON first if they wish.

Release from LON first can have much bigger impact for publicity since the UK City is the largest and most active financial services centre on the planet.

Release early afternoon in UK can also have bigger impact on USA markets which are starting to open then.

It will be interesting to see how 88E handle the expected Farm Out release as the available trading days to end of 2018 rapidly dwindles towards nil.

Phrontist

Volume oil production is unlikely to occur in less than 18 months.

Serious volume, 2.5 years

60% of conventional sites extracted typically within 10 years.

The rest extracted on declining annual amounts over further 10 to 20 years.

Specialists make estimates of eg crude oil prices over a long time period.

The last 20 years curves with main events will assist in producing future oil price predictions.

Phrontist

Hello 128K, did you just crack a joke???

Ha, ha ha ha, so clever.

We should stuff you down the Icewine 2 pipe, with tongue like your's muck will soon flow....

All posts from 08:07 to 11:39 have disappeared.

Can anyone else see them?