Member Info for Phrontist

Brom, you sold high, yes?
Now want to drive down to lowest for cheap buy?

Ha ha. Phrontist

What are the alternatives? Use ingenuity, energy and belief to try everything possible on Icewine 2 Plan an Icewine 3 in a new location based on Geological research for most likely success. Forget HRZ and unconventional. Clearly Icewine 2 still has a long way to go. And no one knows why Icewine 2 is not behaving according to expectations. We need to know the reason. Phrontist

H to H How about a 10p Party at the Globe? £1 looks, well, very distant at the moment. Smiles. The company will overcome...... Phrontist

House pressure is 30 to 90 psi.

There is close to 15 psi to 1 bar.

My house has 7 bar house water supply.
Obviously I put pressure reducers to limit within house water systems.

In my garden, I use hose and closing end of pipe to gain maximum squirting pressure.

I estimate it reaches 7m to 9m height (23 ft to 30 ft)

This is not very high compared to 11,000 ft depth.

The water is just making it to ground level.

Phrontist

Of course the next stage with unconventional is farmout 3, 7, 10 wells?

But the farmee company wishes to be sure the wells will produce.

Icewine 2 is meant to be the Test Well that proves commercial oil extraction from HRZ 2 miles deep is viable.

Farmee will not be happy to sign contract today prior to this proof being offered.
Such as barrels of flowing oil.

The Big Question is:

Why is Icewine 2 not functioning as plan?

The Big Answer is critical to any steps we take now and any steps a Farmee may take in future.

Have CP or any other company cracked a fracking well anywhere in the region?

Is it / are they also HRZ, or similar to HRZ?

Does our problem relate to specifics on Icewine 2, such as two layers of HRZ, one above the other?

I must be honest, my confidence in BXP / 88E is weekend with the loss of PB.
This type of problem is PB's bag, his lifetime of education, experience, contacts, etc.

I read somewhere that 90% or so of all oil produced by fracking is in Texas locality.
This experience and knowledge will feed from/to the major production companies, freelance explorers, sub-contractors, Universities, high tech equipment makers, etc. all from that region.

I am sure Otto, Dave, The Team, are working on Icewine 2 like there is no tomorrow.
They all deserve praise and support.

But I would be talking to Conoco Philips right now.
Or company with similar profile from Texas fracking world.
With strong finances, a history of resolving Icewine 2 type technical problems.

Obviously 88E staff communicate with Burgundy owners and staff.
What can Burgundy offer? It is they that started this whole project.
What action do Burgundy recommend?

Phrontist

IMHO BoD need to conference with Burgundy and plan next stages of our future. 88E must avoid damaging shareholder strengths which are many. Phrontist

HRZ holds plenty of oil, but our little problem seems to prevent us from accessing it. Could be something to do with two layers, one above the other. Last year they were thought to have connected. But maybe the connection is not particularly good. Bottom layer has yeilded it's water etc but top layer is not being accessed by artificial lift. So, water is flowing down but very slowly. Like water seeping through mud rock layer. Should we now block off bottom layer and attempt to draw water from upper layer? I am not expert, but there are plenty of experts in this industry. Engineering in all fields is a wonderful profession and history shows human race solves impossible problems on a daily basis. What may have come to an end are our JV endeavours to cream the curve. Is it time to bring in CP or another on JV basis and blitz this HRZ issue once and for all? We do not have the financial muscle to tackle Alaska exploration on so many fronts. Now is Farm In time whilst we still have substantial funds in the bank. Phrontist

They have reappeared. I just checked, but there was a problem that started at about 04:30 Now all posts have returned including mine at 04:20 and 04:40 Phrontist

I feel a joint statement from 88E and Burgundy on Icewine 2 plans will steady shareholders. Not leave position hanging like a year ago. Speculation does more harm than analysis and informed statement. The JV has much good stuff happening regardless of Icewine 2 progress. Phrontist

The RNS shows progress is tough. But no one here has the experience to predict the next 10 weeks. I suspect that the BoD will be reviewing Icewine 2 and will issue a further statement on revised plan for remaining 10 weeks. We are all aware of the 3D seismic to map out conventional. With over a billion barrels of conventional to work on, a shift in emphasis may occur. Priority on conventioal Farm In H2 2018. And a stretched timescale on Icewine 2. The well needs time and skill. Analysis of the HRZ core extracted 2 years ago has not changed - oil rich and good for fracking. Phrontist

ASX:88E SP has taken a bashing last week. I think it languishes around 2.9c before suspension.

We closed at 1.825p equating to 3.32 Aus cents.

So, ASX:88E needs 14% growth to catch up with LON:88E.

Then another 14% please to take the lead at 3.8c close.

Plus it will be interesting to read the Aussie take on DW's latest and most surprising RNS. It is very interesting indeed and shows how BoD thinking about 88E / AEA future can develop.

88Energy a Conglomerate?

DW the first Aussie Oligarch?

Brit 88E shareholders a new style of Supporters Club?

Ice-2 spouts oil at 200 bopd?

If pigs could fly...…

Good night from Phrontist, until 01:20 hours (we see ASX SP delayed by 20 mins)
Could ASX:88E pass the 4c mark? I hope so...

Phrontist

WAussie, dessert, ummm

Plum and Apple crumble pie, custard, Devonshire ice cream, double cream

By midnight, coffee with side brandy

Makes me hungry too. I am cooking stuffed chicken this evening with carrots, broccoli, leaks, new potatoes and sweat potatoes, gravy and cheese sauce. Afters - plum crumble pie.

The under 60's don't get free brandy......

Phrontist

Well, if the £1 party happens, does it mean Micky is only charging £1 to get in?

I have many family members in 20's and over 6ft with lots of 88E shares, they are hungry lads!!!

Myself, I like the Carvery Double Plate comprising one large slice each of:

Ham, lamb, pork and beef.
With all the extras in vegetables, gravy, cheese sause, spices, etc.

Ha ha. Well, not 2018, it appears. Maybe 2019, definitely by 2020.

We are talking about revenue per share.
Which means capital refunds + then current share price - share price paid = or exceeds £1
Argh, I see a complication here.
Just because some early investors make a £1, does not mean all shareholders have made a £1 profit.

How many millionaires will be present?
This requires over 1 million shares as (sell price) - (buy price) must > £1 per share.

Mickey, you need an Accountant to issue Entrance Tickets!!!

ATB. And well done DW today, he opened a new aspect to 88E business which looks interesting and profitable. And none of us had though about before. Probably chatting in Dead Horse local bar, and little group of Explorers came up with this idea.

Phrontist

rossowheels

Yes, it is true PB planned to pass on to charity, much of his proceeds from Central North Slopes.

His hopes were to create support for children in The Congo. From youngsters to adults. Essentially to give them protection, education, nutrition and health. I think his plan was quite definite, but in the future, obviously. He had been very successful financially at his long term employer, Conoco Philips. He did not need more money for himself. PB's belief in success from Central North Slopes of Alaska was absolutely 100%. He was a geophysicist with many decades experience in the Texas fracking world. His personal contribution to success there was outstanding.

I am not sure of this detail, it is my estimate. About 10% of overall revenue from our JV would go into the charity. His target was to exceed US$1 billion. I do not know how these ambitions will develop as a consequence of his death from heart illness. Maybe one day his family, or Burgundy, will throw some light on this.

I apologise if any of above is inaccurate. It is based on a few informal conversations between PB, myself and Reaper007, at the City based meetings we had 2016 and 2017.

Wishing all LTH's gain. If I do well, I will likely provide a percentage to charity. PB had some great thoughts and actions.

Phrontist

This is an AIM share with a capacity to vary up or down in surprising amounts.

It could be 1p tomorrow, or 4p. History shows this.

I am in 4th year of owning 88E shares. All companies on new ventures have unexpected hold ups. This does not mean failure. I think 88E has taken a cautious path keeping finances ahead of committed expenditure. The company MUST continue to do this UNTIL it is making cash. Otherwise, always dipping into Old faithful shareholders and scaring off many possible new shareholders.

Icewine 2 remains the Number One Priority. Unconventional of about 5bboo (billion barrels of oil) is a massive prize if successful. And is PB's baby, a must to succeed in. About 4 weeks more of water removal and oil production flow rate testing. After 5 years of independent research by PB followed by almost 5 years of JV between PB's company Burgundy and 88Energy under Dave Wall leadership.

When oil flows from unconventional, then 88E and BXP are definitely in business, very big business.

In the meantime, many side games are in play. Conventional supported by latest (ongoing) 3D evaluation and mapping. Yukon Gold site. And now some new venture I have not unravelled yet!

Collectively the side games make an amazing company with SP worth far more than under 2p today.

But everyone has their eyes on Icewine 2 and oil flow. This is the real asset once Icewine 2 has produced oil on a commercial basis. We have about 10 weeks to prove this out. Then another winter.

If Ice 2 fails to produce this summer, when is our next cash revenue option? Farm In Contract Q4 2018 for conventional? Very likely, and worth 4p / share on its own. 1bboo on our Central North Slopes.

So, I not worry or stress. Yes, fed up many times. But we are an exploration company with the inevitable uncertainties on the road to success. I would not risk selling my shares because Good News can arrive any day, from a variety of reasons. There is vast oil resource under our land, whether SP is 1p, 4p or 12p.

Phrontist

… that on some of the posts below the SP is shown as 2.26p, but on others it shows yesterdays closing price of 1.55p

Where do LSE get their stock price information from?

Phrontist

Relax. There is a small team on site at Franklin Bluffs aided by specialist sub-contractors. Liquids are coming out at a few hundred barrels per day. Slowly and surely the well is moving towards oil production state. Days and weeks still needed. Nice comments and nasty comments will not change anything. Nothing bad has happened, very good things are likely quite soon. Phrontist.

I watched ASX:88E drop like a lead balloon last night during first few minutes of Australian market opening. And, I read the RNS with excitement. It seemed to be confirming, operations are running to schedule and expectation. No problem here. ASX ends up nearly 18% down. Ha ha, this would be funny if it was not such a serious event. ASX:88E hold much fewer 88E shares than LON:88E. And a high majority of those shares are held by very LTHers. I am no expert here, but it seems panic selling by a small number of short term players has disproportionately affected the SP. We shall see tonight, I expect ASX:88E to recover 15% to 20% quite quickly. Fact is, the fundamentals of 88E / BXP remain outstanding. Companies with no debt, running cash positive on current operations. Continually moving de-risking activities forward on both conventional and un-conventional. A land mass ownership that has more than doubled, and nestled in with other company owned land that is pulling oil successfully, and attracted substantial ongoing investments. A BoD and Team that tackle exploration with gusto and skill. Very likely FarmIn contracts by year end. LON:88E has restored itself to only 3% down on the day. People ask: why do positive RNS's result in negative SP response? Answer: Last summer was a PR disaster. Expectations of successful Flow Rate results were replaced with 9 months of 'soak in'. Holding on for longer does cost money, even though the soak-in was necessary and common within the industry. Yet, 88E is now on a wave of both conventional and unconventional success. Patience. Watch the football. Enjoy the summer. I am still guessing on 288 bopd for FRT, but will settle for 188 bopd. Phrontist

Psyurmh My understanding is that MM's do not stock up overnight. NOT. It is NOT an MM's job or mission to make or lose money based on a share rise or fall. They try as far as possible to handle share buy-sell back-to-back. MM's make money as commission on buy or sell only. Which is why they like a lot of buying and selling. IMHO Phrontist

London Stock Exchange web site: On all shares Trading status: Halt Special conditions: Suspended Phrontist