Member Info for Proselenes

Nahhhhh.

The only people who get banned on AFN are those who are abusive or post pure nonsense. Negative comment is perfectly acceptable and should always be part of any discussion.

Sadly, plenty of posters on AFN just cannot resist being abusive....... you see, like your comment about dog investments.... thats pure jealousy, emotion.......its not healthy.

Discuss a share, a company.........not the people.

Strong minds discuss ideas Average minds discuss events. Weak minds discuss people.

Remember that :)

Its circa 5%. Its quite clear. A few words later they say Liza is 0.5%

Solid coal is commercial onshore..........Canadian tar sands happen to be onshore........GKP's Shaikan is onshore........

Useful chart showing price differentials in the link below, but it only goes to 4% Sulphur. You get the drift though...heavier and higher sulphur is lower value.

https://images.squarespace-cdn.com/content/v1/52abb9b9e4b0cb06a591754d/1466045958291-6FZ0X3IJKDMVSO085HT4/ke17ZwdGBToddI8pDm48kENMtogn8nsoSVeXIWtYf1gUqsxRUqqbr1mOJYKfIPR7znJwASjrmwtS7aL_aQryCcm4T3hP7tXlp0Gk8RZ7lKFCRW4BPu10St3TBAUQYVKce0R8aLNR1Ar3Udkj3MICVeqp1UJeLtcJS16iNWsWrkkSsNXaEH2fk2A4Vp5AgTgN/image-asset.jpeg?format=1500w

See below link:

https://pbs.twimg.com/media/EJUMT6cU8AAU93T?format=jpg&name=medium

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Dont forget.

TLW and ECO have still not officially informed the market of the API and Sulphur content, when they do, and if its 12API and circa 5% Sulphur - watch the negative reaction.

For sure preliminary results are known. Its 3 months for Gods sake. looks like someone has leaked the info now.

Carapa is the high risk gamble.......if it comes off then things will get better, 80p possible for the share price. If Carapa fails, then hello sub 20p share price imo.

Jiminey.

c. 5% means circa 5%.

When they mean 0.5% like for Liza, they say 0.5%. For Jethro/Joe its circa 5%

As I said before, Carapa results are now the potential Hail Mary.........

Carapa good then ECO recovers to maybe 80p whilst waiting for 2020 drilling.

Carapa fails then ECO will plummet to below 20p imo.

Very high risk now imo.
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Whoops, should be Strong Sell opinion, not buy.........LOL :)

Looks like we have unofficial news......

Jethro/Joe are 12 API (we knew it was heavy) BUT BUT BUT... 5% Sulphur !!!!!!!!

Yes, you read it right....... 5% Sulphur content it says in the article below, no wonder its being.......delayed in being released waiting for.....whatever they are waiting for.

Thats why TLW said VERY high sulphur. 0.5% is the cut off from Sweet into Sour Crude, so over 0.5% is sour, but this is 5%.

https://www.petroleum-economist.com/articles/politics-economics/south-central-america/2019/tullow-s-last-chance-saloon

..........But laboratory analysis of crude taken from the Jethro and Joe discoveries, in the Orinduik block, revealed crude of 12° API gravity and c.5pc sulphur—in contrast to the lighter 32.1° API gravity and 0.5pc sulphur content of ExxonMobil’s Liza discovery—risking the commerciality of both prospects...........

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I expect some news on 27th of November or 28th of November

Is the good doctor not doing a presentation on a new super giant north sea oil field progress on the 28th November ?

Methinks news before his presentation........

https://www.eventbrite.co.uk/e/28-nov-london-robert-trice-ceo-of-hurricane-energy-progress-in-delivering-the-uks-next-super-giant-tickets-70607584185

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And looking like Alaska North Slope is going to become a real hotspot focus as draft regulations now done. Big boys will expand and new big boys will want to get in.

PMO obviously saw the potential, hence they farmed into Charlie-1 and also looking at farming into other blocks held by 88E. Success at Charlie-1 should mean PMO farming in further, or of course, another player coming along and buying out 88E.

https://www.reuters.com/article/us-usa-alaska-oil/u-s-government-releases-draft-proposal-for-expanded-alaska-oil-development-idUSKBN1XW1SK

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On Bloomberg - message is being spread far and wide.

https://sponsored.bloomberg.com/news/sponsors/features/the-next-oil-rush/88energy/?adv=25442&prx_t=FnYFAwbU-At_sQA

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Torok are the main interest. 3 zones of Torok among the 7 conventional targets. Please watch the video, which explains this.

https://www.youtube.com/watch?v=8kHZ5K09GgU

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So nobody wants to address one of the elephants in the room of how ECO can pay for their share of Hammerhead unitisation costs - their little cash pile will not cover it.

Seems like its still "wing and a prayer" mode........hope Carapa comes in so they can sell their share of this license and get out before the bills for development start coming in and demands for potentially hundreds of millions of dollars.

Carapa strikes things might be ok, Carapa fails then I see ECO heading sub 20p.

In the pic in the link below :

https://i.ibb.co/xz6jFQK/PTAL.jpg

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If you dont know what the very high sulphur content is, how can you know it is manageable.

What if its 5% ? or 10% ?

Sour crude means sulphur over 0.5%. How high is this, nobody knows..............all we know is TLW said VERY HIGH SULPHUR content......which may mean, its not commercially viable to produce.

Dont forget, because the API and Sulphur content is still not officially known, they can talk and talk about production and commercialisation theories as long as they want. But when its officially released, when people see what it is, then people will know the likely outcome.

Most convenient that the API and sulphur content is still unknown ................. tick tock tick tock....everyone praying Carapa comes in then a good chance to sweep Jethro and Joe under the egg smelling carpet................

Mmmmmmm the reason people perhaps dont talk about Hammerhead is because if it is to be unitised then ECO have to fund their share of costs.

x number of wells (shared cost)
FPSO (shared cost)
pipelines etc.. (shared cost)

That cash pile is not going to cover it, the big boys wont be helping out, they will tell ECO this is your share of the cost, pay it up or b*gger off imo.

So what do you think the upfront cost to ECO will be if Hammerhead gets the go ahead and they are told to pay up their share of costs under unitisation ?

IMO all hangs on Carapa - if thats good then confidence will return, share price up to 80p levels and things will look better - but still need a drill in the TLW/ECO license to prove a Cretaceous there. Carapa fails I really can see this falling below 20p as everyone bails out.

Trouble is, there is no legal definition of similar/not dissimilar when not specific.

Art is not dissimilar to music - is correct but they are different.

The oil in Jethro/Joe is dark brown, therefore its similar to other oil fields oil.

Jethro/Joe oil is not dissimilar to other oil fields.....as the oil is dark brown.

RNS announcements have legal consequence. Thats why when someone uses flowery wording and is not specific, there is a reason why normally !!

Notice the way they change from talking of the Joint Venture Partners are looking at what to do next -to then the Company is optimistic.........

EG, the Joint Venture partners are not Optimistic this is commercial given the very high sulfur content. Only ECO are optimistic (because its all they have perhaps..........)

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The reason would be to disseminate information and gain interest in this upcoming massive drill. All part of what is known as PR.

Having just done a placing its time for them to garner interest and drive the share price back upwards to where it should be.

Nothing wrong with PR, if you have a story to tell, shout it out. They are doing that now.

https://www.sharecafe.com.au/2019/11/19/88-energys-north-slope-well-could-be-one-of-the-biggest-in-2020/

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