Big Oil in Alaska19 Apr 2021 12:15
Just posted my thoughts on PANR today, they apply equally to 88E:-
What do big oil make PANR results today, and for that matter 88E's recent results I wonder. Two junior Alaska based explorers, potentially sat on huge reserves, but constantly coming up short of stellar results for shareholders?
With their currently low SP valuations, they surely must make for an interesting acquisition opportunity imho. With the Biden admins threats to shut down new exploration in Alaska, what is big oil to do? And what would they do if, perish the thought, the current exploration licences were to lapse for some reason. Would big oil lose forever the opportunities that may lie across these various acreages, and their oil reservoirs, across Alaska.
Take Shell for example, they currently seem to be interested in the area yet seem currently frustrated in their Alaskan plans :-
https://www.adn.com/business-economy/energy/2020/09/16/shell-offshore-files-plans-to-return-to-alaskas-north-slope/
I think this is an interesting period in Alaskan oil exploration, the question for me is will we see some M&A activity soon?