Member Info for Phrontist

JofHoggit Are you suggesting that the 9 months of soak-in was not necessary? Phrontist

Brom, you say: I am not sure how many posters are unclear about the risks involved here. Many are unclear, including me. You have supported DW statement of 50/50 for success/failure of Icewine 2. So, what are your reasons that can lead to 50% chance of failure? Phrontist

Nice comments, but expected. We are all investors and supporters of 88E / BXP so have positive confidence in future SP rise. Gary has added to my positivism. No one has a negative observation. Unfortunately no Big Possible Buyers are watching this, and can give their reasons as to why they are still waiting. In Feb, I predicted 3p end of April, 4p end of May, anything goes end of June, but 6p to 8p is possible with 100+ FRT. But there is only a week to go for end of May, and SP is only 2.3p. I guess this is the nature of Exploration investment patterns. Last second buying. So, from 11 June things will get very HOT with SP. Just under 3 weeks to Boooommmmmm Phrontist

Sorry, I meant gfb258 not jiddy P

jiddy, ha ha. Me Ramper? ha ha ha. (of course I am.....) Me believer. And PB follower. I am just trying to assess why Big Money is not pouring in. Exactly what is the fear for 88E BUYing by many Big Buyers? Phrontist

Imagine, you have �250,000 cash in the bank. It occurs to you that 88E SP is likely to rise 4 times within this coming 6 week period. Your nice lump sum could become �1m. Very nice, yes? Are you going to buy 88E on the basis of Paterson's Report? Why not? What holds you back? What information do you need to make you BUY 88E? Well pressure? Lift can compensate for insufficient natural pressure. Production oil quality? Possibly. Quality Light Crude is likely, but not proven yet. Two interconnected HRZ layers causing confusion? Once understood, this does not seem like an impediment. The proppant mix was not right for releasing oil from HRZ? I have no idea. Is it proven that HRZ will release its oil under Icewine 2 well conditions? No. A cup of oil from Icewine 2 in 2017 would go a long way to allaying these fears. What other possible reasons are there for failure to produce oil? Phrontist

I think most Posters on here are positive share holders in 88E. So asking a question for some opinions may get one-sided answers. But, I would be interested to know, for each potential investor, what is it that concerns you about the up coming Icewine 2 tasks to start oil production? Why are you so doubtful about 100% success? Big investors carry out due dilligence, they would have read the Research Note produced by Patersons on 18 Feb 2016. But they are still deterred from making big BUYS of 88E stock. Our share of the North Slopes land is vast, containing at least 4bbo, maybe double, even quadruple. This is just massive. Why wait to buy the best stock on AIM? The best stock anywhere in Western Europe, possibly. Guaranteed (well, believed to be so by me))) to yield �1 or more per share. They are waiting because the Paterson Report is a stepping stone on this journey. The next stepping stone is 1 cup of oil from Sept 2017 just before shutdown? Phrontist

Yes jiddy, I remember this. It is good information. As far as it goes. Why is SP so low? IMHO, punters are not confident that this oil can be extracted using a production style oil well. The samples give no information about proppant details, pressures down under, and extracted oil properties. One cup of oil from Icewine 2 can go partway to raising our confidence on these questions. If the FRT produces at 100 bpd for 10 days, that is 1,000 barrels of crude oil. Hopefully we will get confirmation it is good quality light crude oil. SP will likely rise to 6p, 8p even 10p depending on other factors learnt during the test. Today SP is wobbling around 2.3p. If test results could be released on a single cup of Icewine 2 oil, I suspect SP would be over 3p, even 4p by end of May. Phrontist

From Paterson Report based on Icewine 1 core samples: Exploration thesis and Icewine#1- The primary objective in acquiring the acreage is an untested, unconventional liquids-rich shale play in a prolific source rock, the HRZ shale (Brookian Sequence). This is the same source rock that co-sourced the Prudhoe Bay Oil Field Complex (the largest oil field in North America). Post completion of drilling at Icewine#1 the core samples taken and analysed have shown that preliminary test results have been positive. During the core evaluation, oil / condensate was observed leaching from the HRZ core and testwork confirmed liquid rich gas throughout the HRZ shale. HRZ core samples were analysed for Total Organic Carbon (TOC) and all results indicated an average value of 3.5% which is favourable in comparison with other North American shale plays. Tests on porosity indicate the upper end of the 10-12% expectation, and permeability was several times greater than the effective cut-off in all core samples tested. The final thermal maturity analysis indicates that the Icewine#1 well is in the crossover between the volatile oil and condensate window as expected. Finally, early observations on the rock mechanics and fraccability are reported to be encouraging.

It was tough news to take when Icewine 2 was shutdown late Summer 2017 before a Flow Rate Test could be carried out. It will be 9 months from then until FRT is finally achieved. We hope. Not a great deal of profound technical knowledge has been released about HRZ since Icewine 1. Just sufficient to say there is a lot of oil down there. And we are going to continue out mission to extract it. Thinks. The SP dived on the 20 September 2017. The words Winter Shutdown then were completely new for most shareholders on LSE. And then words like Nitrogen Lift. Then realisation that the majority of fracking wells benefit from both activities as part of normal operations. But, the Well Head staff did extract something just prior to shut down. Mostly fracking fluid I think. I wonder, did they get even a single cup of oil? A cup of oil is enough to learn a great deal. Is it good quality light crude oil? If yes, then a good flow rate is extremely likely following 9 months of shut-in and using nitrogen lift. And good quality oil like this is perfect for taking the TAP trip from Franklin Bluffs down to Valdez Sea Port in South Alaska. We have not had a peep from BXP/88E on this. Yet much land has been grabbed since then. More expenditure, more cash raising. Which makes me think, some oil samples were extracted giving BXP/88E great confidence for 3D Seismic project and Icewine 2 oil quality and FRT result. Just some thoughts. Enough for me to keep buying for 3 years and sell almost nothing. )))) Good luck to LTHers, Phrontist

Three days in a row, they comment from USA sources, POO will pass $100 / barrel before end 2018. Phrontist

Mickey, I have no idea. Try Mr Google! Just a thought, but could there be oil under your farm area? If there is oil around West Sussex, it could be anywher? My share is 10% for the idea. Keep healthy, Phrontist

catsize Yes, I agree. PB and DW must have worked together a great deal. PB's knowledge and contacts is vast. And to mention, such an engaging character in social conversation. He was good at his chosen profession and he enjoyed it. IMHO, 88E would not have been conceived if PB's amazing ideas had not appeared in front of DW. I am curious to know, how and where they met? Anyone know? Phrontist

Bigdee76 I have transferred shares to a number of family members last year and will be doing more shortly. My shares are held by HSBC Invest Direct. This is a normal Trading Account. You can add a �20K ISA Trading Account. I discussed this with HSBC before doing it. My ISA has 4 years of 88E shares in it. I got each relative to open a new HSBC Account, then add an HSBC Invest Direct Account, then add an ISA Sub-Account. Identical to my setup. I instructed HSBC to transfer from my Trading Invest Direct Account XXX number of shares into each Relative's new Invest Direct ISA Account. Each transfer is a gift of shares. They effect this transfer of shares from my Share Account to each Relatives Share Account. Then, each relative has to instruct HSBC to do Bed & ISA from their standard Trading share account to their ISA Share Trading Account. This involves an Open Market Sell and Buy Back with an MM which only costs �10.95. If the transfer is to your wife, you can die anytime, there is no tax. In effect, you both own your family property. Check with solicitor if you like. But if you stuff �1000 cash into your wife's handbag whilst out shopping, is it taxable??? No. If the transfer is to anyone else, relative or not, the gift of your nominee shares is non taxable. It could be that if you die within 7 years, HMRC may argue for some tax. It is possible a qualified accountant can confirm on this one, but my guess is he will waffle with ifs and buts, to conclude we will have to wait and see IF you die within 7 yrs. IMHO, DYOR, etc. Phrontist

Yes, this 'telephone' voice interview is excellent. Everyone should watch it. DW is quietly confident of all strands of activity when discussing 2018 activities. A significant comment is the company is expecting Icewine 2 Flow Rate test to be around 100 barrels oil/day. This is respectable for a small exploration single vertical shaft. I imagine that the on-site staff will be able to control this figure since controllable nitrogen lift assistance is likely to be applied. One factor we are hoping for is light crude oil, meaning low or no impurities (such a sulphur) for low viscosity easy flow liquid. DW is known to understate to be more confident in reaching a reasonable target. Which means over 100 bopd is likely. I imagine there is some balance between FR and expected reservoir size and ease of pulling the oil through the labyrinth of fractures in the HRZ rock. I think there will be many technical sub-issues that will be investigated to improve efficiency, reach, etc. DW did not mention horizontal addition to Icewine 2. Getting the oil flowing and seeing the oil quality is a very big step in the life of the 88E / BXP / AEA group. Maybe it is prudent to pass that step before releasing plans for the next stages. It is possible one of the Farm-In companies will take over horizontal production of Icewine 2. This could accelerate the project since 4 or 8 horizontal pipes costs money to install and operate. I think all of us are very sad that Paul Basinski could not be here during such an exciting phase of the Icewine 2 project. This SP should be over 4p and rising. Phrontist

Another interesting point is this. SGH MC is now under Aus$30m Buy them up and cancel the litigation against ourselves. Then re-float the Australian only bit on ASX. It should get a good price. Aussies will be happy. And sell remainder of UK bit back within UK (for pennies). Ummm. Lateral Thinking. Phrontist

AEM, plus part of my post on 27 Nov 2015 And, as several have pointed out - get rid of all RT businesses and start afresh has an attractive ring to it. We are now at the stage of saying our two best features are Cash and BoD quality, with telematics as a third runner, and a mish mash of other bits and pieces RT seemed to want a few years ago. END That is 20 months ago. Phrontist

AEM, my post on 18 March 2015 Bordersman I can see your view on this, keep Quindell as it is, go for 2015 Business Plan, get bigger and better, etc. I will be more than happy with that. But, the BoD are negotiating to sell QLS, fact. One of the few facts we have at the moment. My view is, we can't change what the BoD decide. I am not sure if it is put to the shareholders, discussions here thought not. So, selling QLS is topical - to do, or not to do, that is the question. Part of this, is £640m plus extras (defined) a good deal. My answer is YES. Not many chances arise where a young company can sell half of itself and get £640m + extras into the bank. It takes years of work to achieve what can be done in a month here. And, never a short to darken our doors again (you should like that ...) This is one post of dozens where I argue for SELL PSD, and Bordersman argues for KEEP PSD. Phrontist

Not true AEM. Bordersman and a few others were vociferous and had quite a big following against selling. The essence of their argument was: 1) Those 'contracts' would generate similar amounts of cash year on year. We are selling for just one years worth. 2) The legal part of QPP contributed about 75/80% of revenue, without it the rest could not survive. And these are very good points. But: (2) seems to have become true, after 2 years, underwritten with funds, and quality BoD, these businesses have come to little. Please correct me if you think I am wrong. (1) did not prove correct, hence the mayhem and financial collapse of the new owner. Before the purchase, that company was stable, steady growth and financially sound. I had encouraged a sell out of the remaining businesses and a move into the technology aspects of Health, Medical and Care starting with acquisitions. I agree, this is not easy to just simply do. All the best AEM. Phrontist. It is history now. After the sale I decided to sell out and felt fortunate to only suffer a 20% loss. But on a big investment. I have no regrets, predicting the future for most AIM companies is tough. One thing that has been proven, to my mind, is RT was useless and not capable of being truthful. The 'new' BoD are great. I will not say more. I always have my eye on buying back in simply because of money in bank and such good senior management.

I think the SGH claim is SGH frivolous. Why? Those of us that were around on this 2 to 3 years ago will remember that SGH were able to study everything at QPP to their hearts content. Plus, they were a direct competitor! They knew and understood the UK legal business inside out. I was one of very few shareholders that supported selling that part of the business. I could see that the chances of us converting those soft contracts into winning cases and cash was minimal. But that was my opinion. SGH also had an opinion. It is worth them buying the legal business to secure a dominant UK market share. Reason for SGH legal action? A smoke screen to cover for fundamental mistakes of judgement by their own staff. WTG new BoD seemed great. But once 'legal' was gone, we were able to see what was left more easily. I would have sold all of those businesses there and then and be done with QPP and RT's poor purchasing judgement. In fact, the BoD should have cashed out, returned the money to shareholders and closed the business. Then SGH would have had nothing left to pursue. Phrontist