Member Info for Proselenes

As per Cenkos note, link below:

https://i.ibb.co/Vvx8bvz/88.png

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Still averaging over 10K bopd offtake.

All being well with 6H, PTAL moves to 15K bopd offtake from mid April.

https://pbs.twimg.com/media/EUKQmbcXYAIMjoz?format=png&name=small

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https://www.reuters.com/article/us-oil-opec-russia-rdif-exclusive/exclusive-russia-calls-for-new-enlarged-opec-deal-to-tackle-oil-demand-collapse-idUSKBN21E13T

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https://www.reuters.com/article/us-oil-opec-russia-rdif-exclusive/exclusive-russia-calls-for-new-enlarged-opec-deal-to-tackle-oil-demand-collapse-idUSKBN21E13T

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This remains a binary bet.

Oil discovered and proceed to frac and flow test - massive rises.

Oil/Reservoir quality not good - no frac and no flow test - massive fall and sit and wait on big losses until Yukon project news (farm out).

There is an in-between scenario and that relates to the bottom 8th target, the HRZ shale. That alone could be worth up to 13.4p per share if the shale coring and testing proves that the HRZ shale is commercial and then can be farmed out. So even if the upper 7 conventional targets fail the shale could be the Hail Mary. Even if you say 50% farm out of the shale on success, that over 6.5p a share to 88E in future.

In the present climate its therefore understandable that 88E dont plan to release any news until all drilling operations are complete.

Going to be it seems a Blockbuster news announcement at the end of drilling with each targets result included and then the follow up action if any are deemed a success.

Eight chances for a prize - bloody unlucky if they all fail.

Expectation is only the main two Primary targets in the Torok will be good.

Anything else is pure bonus.

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All about timing and filling your boots when nobody is interested. Yes, short term other stocks might move up 100%, but at the current price and if successful in 2021 ECO can move up 3000%. Takes a lot of 100% gains to get a single 3000% gain.

All it needs is spare cash and patience.

Absolutely not. My plan has not changed, buy 500K shares under 25p average and hold for drilling.

This is how you plan a long term buy and hold in an explorer, fill your boots when nobody is interested and then just wait 6 months or 12 months of whatever it may be.

Cheapest price I have managed to buy so far is 13.35p

If they get to drill in 2021 the upside is staggering, anything from 200p to 600p a share or more if those cretaceous targets have oil. Just keep buying and holding......12 to 18 month hold for the upside.....

If we are getting no update until drilling completes, then based on 2nd March spud, slight weather delay.......drilling operations should complete week commencing 6th of April.

Not long to go for results from the biggest onshore well being drilled in 2020. Lets hope they strike some oil.

Offtake figures, its the daily record of oil sold by PTAL.

Offtake still averaging over 10,000 bopd. Well done PTAL, keep it flowing. Well 6H news should be in the next 7 to 14 days.

Lets hope is another gusher.

https://pbs.twimg.com/media/ET13i3BXkAYZLeU?format=png&name=small

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Predicting 40$ later this year and 50$ for next year.......... average of 45$ for 2020/21 production - which falls smack in line with the number Putin needs....LOL. This guy in the link below is the main man of Russian oil

Think there will be some horseplay between US/Saudi/Russia and perhaps an agreement made soon to cut back production.

http://vestnikkavkaza.net/articles/Yuri-Shafranik-predicts-oil-price-of-50-per-barrel-next-year.html

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The only update one could possibly expect now, given the comments about full LWD results being released after TD reached, would be along the lines of :

Both of the initial secondary targets, being Indigo and Charlie, have been drilled through and the initial data suggests both were oil bearing OR one was oil bearing OR none were oil bearing and full details of these will be released with the logging data once TD has been reached. The drill now continues down to the middle secondary targets of Upper and Lower Lima.

Thats if they decide to update in some form during drilling.

Brombarb, you are correct.

I will put that down to my laziness as I normally put depth against targets as a scale, but lazily used the figures on the pic. Slap on back of wrist for me for being lazy !!!

I will now be not lazy and do the pic again as I normally do.

Is that 11,400 TVDss ?

Remember they dont spud from TVDss 0.

This is why the first casing point is at the blue arrow in the pic.........1066M or 3500 feet of actual drill depth from the rig........

TVDss figures can confuse people............

You are talking TVDss figures.................. Total Vertical Depth From Mean Sea Level.

The figures I gave are actual drilling depth from the rig. Dont be confused by old TVDss figures in old presentations.........thats all they are........ TVD from MSL.....not actual drilling depth.

From the pic..........

Indigo is around 3641 feet

Charlie is around 3772 feet

Upper Lima is around 5577 feet

Lower Lima is around 5823 feet

Upper Stellar is around 6725 feet

Middle Stellar is around 6889 feet

Lower Stellar is around 6955 feet

HRZ is around 7545 feet

All of those blue arrows on the LH side indicate operational events where news could come out.

Plenty of news flow to come, thanks to ASX requirement for continual disclosure of material events.

https://i.ibb.co/yS4vsC3/33a.png

And of course, if they strike oil, the production horizontal wells will not be drilled until Q1 2021, so the current oil price does not really influence anything for 88E, its all about finding oil first.........flow it.

Then the price in 2021 is important.......thats when discussions to sell any finds will commence once the horizontals are done.

https://www.malcysblog.com/2020/03/oil-price-rockrose-trinity-petrotal-wentworth-resources-dgo-and-finally/

PetroTal Corp

A financial and liquidity update this morning from PetroTal who have completed a sensitivity assessment of funds available from operations at varying oil price levels. Bretana’s netback at 15,000 b/d was 55% of the Brent oil price at $65 and decreases to 37% at the Brent oil price of $30/bbl. In some contracts as Brent drops below $50 PetroTal is entitled to negotiate lower fees and tariffs to stabilise netbacks.

PetroTal is debt free and maintains significant investment programme flexibility which is weighted to the last half of the year and will manage payments with a number of its contractors allowing for ongoing operation of the contractors’ crews. At times like this investors need to know that the company is in good hands and the depth of experience of CEO Manolo Zuniga and his board makes me happy that current guidance will be met and profitably so.