Member Info for Proselenes

75K purchased at 10.8p.

Well 6H is drilling - could easily be back to 25p in a few weeks time. Cash rich, no debt........simple business.

30 days drilling with LWD and then wireline logs as well.

30 days flow testing (2 weeks each).

Total 60 days.

Material news is obligated to be released asap under ASX rules.

88E will be smacked today - but should recover. They are drilling for oil to be sold off in a years time after Horizontals are drilled in Q1 2021.

Oil price today, next month, 6 months time does not matter. They remain proving its commercial, then onwards to horizontals Q1 2021. So provided they strike some commercial oil - plan is in place.

The companies facing oblivion are those with high debts and those trying to get finance now....... big troubles.

That quick and dirty placing to raise money ahead of spud is now a very very good piece of work by 88E. No immediate funding needs and no net debt.

Russia cannot handle oil below 45$........expect a resolution soon and new agreement, or the Rouble will be collapsing soon.

US and Russia both in trouble with oil below 40$.........the ball is now in Putins court to make a new agreement or face massive problems.

https://www.investegate.co.uk/88-energy-limited--88e-/rns/corporate-presentation/202002240700058228D/

LWD :

Drilling and Logging

· Drilling to Total Depth (planned ~11,400'), Logging While Drilling and Wireline Logging estimated to take ~30 days

Continuous Disclosure :

Reporting

· Total program estimated to take ~60 days, with reporting of results determined by materiality and continuous disclosure obligations

As an example of the last well.......reporting was:

15th Feb 2019 RNS - Spudding on schedule
18th Feb 2019 RNS - Drilling ahead
22nd Feb 2019 RNS - Casing cementing and BOP in place
26th Feb 2019 RNS - Drilling into Primary targets
1st March 2019 RNS - Initial results from targets gone through
4th March 2019 RNS - Further results from targets and drilling deeper
6th March 2019 RNS - TD reached.

What I hope for is on this well :

9th/10th March RNS - Casing done and BOP installed and drilling ahead.
16th/17th March RNS - Interim drilling results from Indigo/Charlie
Week of 23rd March - Interim results of Lima/Stellar targets
Week of 23rd March - TD reached - coring HRZ and additional wireline tests.

Then its onto flow testing, coring results etc....... for loads more news in April.

And they have LWD.......so Logging While Drilling.............so news on the first 2 targets, yes, I expect Monday 16th March. Drilling into them Fri/Sat/Sun of this coming week.

News on Indigo and Charlie.........I expect........Monday 16th March

An alternate view........during these times, with so many people with cash, and looking to make something, any stock which can deliver good news has lots of willing buyers.

During these times there can be incredible spikes on certain stocks with good news.

So whilst the overall market is in a bad shape........watch stocks with very good news, ones which are well undervalued on very good news......ones with no debt......... ones like 88E.

Seen it all before - get out of stocks with debt - get out of airlines and shops - get into zero debt companies generating lots of FCF......get into zero debt companies with potentially big news around the corner.

The market has not stopped - there has been a big move to cash - but that cash is earning nothing and everyone is watching for the next chance to make money.

Well, I hope for news Monday......update on progress so far, that casing is cemented in an BOP in place and checks done and drilling ahead into the first target zones.

Anyone thinking PMO would try to restrict 88E reporting........I think with the share price fall of PMO, PMO will be asking 88E to pump up the reporting......loads of news please....... PMO need some good news to halt their share price fall.

I am adding plenty sub 25p.....as I said I would.

Buy and hold for 18 months strategy.

The past is a good way to see the future.

Look how the last well 88E drilled was reported.....and expect the same format. As has been seen already - 88E reported spud (PMO did not bother). 88E will report as and when they want to, most likely the same format and timings as their last well.

OSH is not the operator.

How many times do we have to go over and over this. The OPERATOR of a well reports AS PER THE LISTING requirements.

OSH IS NOT THE OPERATOR.

For Charlie-1 it is 88E who are the operator and so reporting is done under ASX rules. if PMO were operator reporting would be done under AIM rules.

But its not. 88E is Operator and reporting is under ASX rules, which require constant and immediate reporting of anything material.

Yes, potentially an opposition PPP win in the elections, should be known soon.

Might dampen things down again if the PPP do win until all becomes clear, might get a chance to add some more below 25p - fingers crossed.

?Would expect them to be cementing casing and BOP checks over this coming weekend and then drilling ahead.??

Depending on how quickly they get things done, they could be drilling through Indigo and Charlie targets on the 11th or the 12th or the 13th........difficult to say. First Indigo target is just below 3600 feet I believe.

??Fast case I would suggest news Thursday 12th or Friday 13th from indigo/Charlie and slowest case, news on Monday 16th March on Indigo and Charlie.?

Then its onwards to Lima and then the big Primary Stellar targets.

I am hoping

1 update for Casing/BOP checks news
1 update for Indigo/Charlie targets
1 update for Lima/Stellar targets
1 update for TD and HRZ zone coring and wireline
1 update for selected zones to be flow tested
1 update for flow test starting 1st test
1 update for initial checks on HRZ shale cores
1 update for flow test results 1st test
1 update for flow test starting 2nd test
1 update for flow test results 2nd test
1 update for further info on HRZ shale cores and testing

Something like that, plenty of newsflow.

Yes they have LWD. So they will know results instantly while drilling. They will also run wireline logs at the end (as they also have to take sidewall cores from the HRZ shale).

But they will know all the details of each target zone as they drill through it with LWD.

Getting exciting really......knowing that there will be news at some point next week on those first secondary targets.

They have LWD (Logging While Drilling) so they will have masses of data right away - enough to give a good update straight off.

For those holding off to buy only ahead of the Torok - they watch the share price, hoping it does not rise and hope for bad news.

For those already in and holding - they watch the share price hoping is rises and hope for good news.

All good fun :)

In the download link below (PDF file).

PDF Cenkos note download link : https://ufile.io/lnrprlfw

They have 6.4p unrisked for the Torok Stellar targets, my estimates were 5.4p for the mean size (as per the pic below which was my run through of each target). So I was being conservative....need to be more rampy........

My earlier valuations for each target : https://i.ibb.co/jTx8n7T/88-E.png

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See pic in the link below:

https://i.ibb.co/jTx8n7T/88-E.png

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IJWT, best assume worst case, always. Sub 25p its worth a buy and long term hold......I will keep buying any dip below 25p but above 25p nope. The wait is long.......to hold and wait that long requires a big discount.

I have been buying ECO today as well, at sub 25p its worth a punt to lock away for a year and just wait.

Sub 25p is all its worth for now, with no drilling for a year, and I will buy more as and when it dips below 25p again. And now I am an ECO shareholder...........

Joe and Jethro are still non-commercial - and drilling is a year away - makes no difference to me if I hold or not - reality is reality.