Member Info for Proselenes

No SpineFX - you are an embarrassment.

An update has to be current..........did you know that there are now mobile phones and satellite phones and email ? The world does not use pigeons for messaging anymore and there is instant comms.

Get real............you have been wrong multiple times - you current agenda imo is to keep the price of 88E as low as possible until the drill is above the Torok and then you want to buy in as cheap as possible.

There are many with that same agenda and they will try their best to misinform people as much as possible to keep the share price as low as possible so they can buy in cheap for a quick trade later on.

But hey.........your choice.

A news announcement has to be correct at the time its released.

So today, the moment it was released on ASX, they were running casing - as said in the news release.

Quite simple to work back from that - and time needed going forward to complete casing run, cement, check cement job, install BOP, safety checks and then finally after some days, will be drilling ahead late weekend is my guess.

Look, to run casing, cement it, install the BOP, do all the necessary safety checks.....need 4 to 5 days.

RNS says they are running casing now. That means still needs cement, cement to dry, checks, install BOP, check BOP.......they wont be drilling ahead until late weekend or Monday - so Indigo/Charlie mid to late next week.

Given that we have some relative times to work with now, next Operations Update probably Monday 16th March stating casing cemented in place, BOP installed and drilling ahead into Indigo and Charlie. 

They are a few days slower than I anticipated but this is drilling, sometimes its quicker and sometimes its slower - many variables at play.??So methinks Monday 16th possible next update - depends how regular they want to keep us informed - I like as much as possible..

??Else if no update on drilling ahead early next week - should be into Indigo/Charlie late next week, so potential for news end of next week or Monday 23rd March on Indigo and Charlie secondary targets.??

We will get a good feel for how regular the updates will be if they do update Monday 16th or Tuesday 17th.

They are just running a bit slower than I estimate, thats all. Around 4 days behind what I estimated.

Drills do do that you know, sometimes progress is faster than anticipated and sometimes its slower. All that can be said is all those saying there will be no regular updates can now shut up - and everyone knows there will be regular updates.

Watch the blue arrowheads on the LH side.

https://i.ibb.co/zZWJZQ8/33.png

We are now at the first blue arrowhead.

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

Have to run casing, cement it, install BOP, safety checks.

So should be drilling ahead the production hole from say Sunday night/Monday.

News end of next week on indigo and Charlie secondary targets ? Possible.

And now everyone can see 88E will report ongoing progress just like all previous wells............

Can all those saying there will be no updates, this and that company reports just once per well, this and that company does this................. can you now admit being wrong and that 88E are going to provide lots of updates as drilling goes in line with ASX rules on continuous disclosure.

There will be news next week........and the week after........and the week after...........and the week after............

:)

Update, all going to plan, casing being run as surface hole reached required 3500 feet without issue.

Once casing is done and BOP in place then we are now just over the top of the first two secondary targets, Indigo and Charlie. So news next week on them :)

Also nice choice of words "production hole" remind everyone there are 8 targets in this well, and 4 of which are appraisal and two of which will be flow tested on striking oil. The market is pricing this as pure exploration - its not.

https://wcsecure.weblink.com.au/pdf/88E/02212622.pdf

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Greg Smith @GregSmithTAL 33m

Excellent release. From day one both Manolo and I were steadfast about no debt on the balance sheet that didn’t pay for itself. We saw a lot of companies get over their skis when debt was seemingly cheap. Low lifting cost and low G&A mean they will be strong through this!!

I would guess we are 4 weeks away from well 6H news, early April time.

All being well then PTAL have 15K bopd from mid April onwards.

If we assume 50$ oil price mid April - based on 24$ net back, then PTAL will be getting near 11M dollars a month netback from mid April onwards.

Ignoring the production increase to 20K year end - lets roll with that, so from mid April to end Dec they should get around 90M US$ in netbacks - based on 50$ oil price.

Going into 2021 with 20K - that would be annualized 182M US$ netback for 2021 based on 50$ oil price in 2021.

Ending the year with 20K bopd prouction, no reason PTAL will not be 50p end of the year.

Might seem a big ask now, but its not.

No debt, good netbacks, excellent FCF and ending 2020 with 20K bopd production - then 50p is not a big ask.

Hopefully well 6H delivers over expectations and ramps us up to much higher production levels, that will provide a needed boost. News on that not too many moons away.

Excellent update:

https://www.investegate.co.uk/petrotal-corp---ptal-/rns/petrotal-provides-liquidity-update/202003100700065681F/

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Everything looking very BLUE today for opening of the markets in EU and US.......could be a strong bounce upwards coming......

https://i.ibb.co/vhqSyZX/WWS.png

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For info the Alaska tax credit case goes to court on Friday.

For those who want to check case is S-17377 or just check the Court of Appeal opinions from 10:00 Alaskan time on a Friday.

https://appellate-records.courts.alaska.gov/CMSPublic/Search

A resolution there would see 88E get a net 5m US$ back into the bank account soon after if all goes well.

12M on the buy (UK would say bid price) side at 0.8p (1.6c) for 88E on the ASX. Offer side is 1.7c at the moment.

Stabilised well and ready to move upwards......

And my comment about tying up cash is if you are locked in from high prices.

EG you had ECO at 60p. You can hold it and wait 12 months.

Or if you sold it at 40p and now invested in ECO at 18p - you would have averaged down a lot. This is always the way, and its why I say people will not tie up their losing money for a long time, its dead money.

People get stupid, they are hurting, they come up with all sorts of nonsense about share price falls and PoO falls.

Research - set targets - but under target. Mine was 25p for ECO and buy below that and remains so. Also been buying loads of PTAL below 15p (managed to get 75K at 10.8p yesterday). Same as ECO no debt, but unlike ECO which is explo, PTAL is pure production, cash rich, no debt. When bargains are there to be had, buy them at your target prices - then just wait - and wait - and wait........big returns will come in time.

The treacle is still treacle and i assign no value to joe/Jethro........not in ECO for that.....in now for a Cretaceous drill in 2021. What I said was most people dont want their money tied up for 12 months (most cannot hold a stock for a week). Investors can, I see an opportunity to put in fresh cash and wait - like I did with 88E, buying millions at 0.7p. I see ECO sub 25p as another opportunity - hence by getting close to 500K share holding now. Never buy too much, anything can happen, but have good exposure to debt free explo companies when their shares are cheap and their targets in the future are big.

Added another 100K today. 50K at 17.99 and 50K at 18.4

Rationale is quite simple, keep buying below 25p until I have 500K shares (soon be there). Wait for 2021, slap a well in the Cretaceous, boom.

All my stocks now have no debt and no need for fund raising. Explo with no debt full funded, or production with no debt and cash rich.

Keep it simple and straight in these turbulent times - always fully paid up shares - never every touch margin/spread betting.