The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
As they have extended 7 days means there is something behind screen either good or bad...take 1m with £500 and will see how multiple it will be in 7days,if all goes agreed with senier lander..
here is quote,
Under the terms of the Forbearance Agreement, among other things, the senior credit facility lender has agreed not to enforce certain rights and remedies that it might otherwise have as a result of the Company's default(s) under the said senior credit facility.
which means, they don't want to loose all by default declare...and it is not listed on AIM but listed on Main market too...wait and watch
I have seen now a days people have short sited to join and leave regular as day trade and keep TROLL/FEAR on other people mind by keep posting negative and those people end up with paying premium like 100-150% when news appear all of sudden. I have make mistake while keep watching on sideline and all of suddend jump in to buy for 6p but now decided to leave this HEMO for long run as it is derisk already with phase trial and other potential product news come along this year...have added more with this drop to average down and now wait as long as it needed....add more, if drop further without any wait too...good luck to all shorter and TROLL:)
Ignor TROLL and stay FOCUS....multibag potential
From article of today's RNS
https://nextinvestors.com/articles/88e-found-oil-does-it-flow-we-will-soon-find-out/
Discovery is made but....
88E’s goal is to try and declare official discoveries and book contingent resources across more of the reservoirs
Key point:
Today, 88E started site preparations for a flow test at its Hickory-1 well
We think the market is placing very low expectations on 88E at present, and that positive results could catch it by surprise.
Each of 88E’s two planned flow tests are scheduled to take approximately ten days to complete - so 20 days of flow testing in total
Last year 88E’s Hickory-1 well:Hit ~137m of net pay across multiple reservoirs
88E’s neighbour, the UK listed Pantheon Resources is capped at £236M following its flow tests on ground next door to 88E, while 88E is capped at less than £50M.
Pantheon’s flow tests (on some of the same reservoirs 88E has on its ground) hit flow rates of up to 108 barrels of oil per day in vertical wells
Anything above the 100 barrel per day mark would be a green light to come back, drill a horizontal well and to commercialise the project with likely 6-12x higher flow rates
For example, a flow rate of 100 barrels of oil per day could mean 88E can increase that to 600-1,200 barrels of oil per day with a horizontal well.
What they know before this test start
New reservoir unit identified (unexpected) - 88E hit a new reservoir (Upper SFS) unit that sits outside of its current prospective resource estimate.
~450 feet in net pay - 88E hit over 2,000 feet in gross pay and ~450 feet (~137m) of net pay across multiple reservoir units.
Average porosity of ~9-12% across all zones - At a high level, porosity measures how much oil and or gas sits inside the rocks. Highlight results came from the Upper SFS and Lower SFS where porosity was between 10.5-16%
Pantheon’s vertical wells flowed:
As a result, 88E’s upcoming flow tests will focus on the flow rate relative to Pantheon’s results.
~45 barrels of oil per day from the SMD-B reservoir.
~108 barrels of oil per day from the SFS reservoir,
Up to ~73 barrels of oil per day from the much lower BFF reservoir
AND after flow test...there is further
The North Slope Of Alaska, USA - In the next few weeks 88E will be flow testing Project Phoenix where it made a 250M barrel of oil equivalent discovery last year
Onshore Namibia - 88E is farming into a 45% interest in ~18,500km2 of ground in a country where majors like Shell and Total Energies have made discoveries offshore
Producing assets in Texas, USA - Here 88E is producing ~355 barrels of oil equivalent per day on a gross basis
It is not next RNS waiting but if it positive, you not getting entry with this price and next two days, it sure fill gap by 0.5p min...Next RNS will be on last day of month not before as GR wanted it to get produced and success!
Check volume and make call...average vol is 32M and as of today already 27M in 3 hours of trade and still remain day left which indicate potential interest behind and MMs accumulation going on too:) get your position as fair advise and enjoy ride
In simple logic, it is clear moving north in today and tomorrow to touch min 0.5p for gap close...may find some sell off later on tomorrow...AND if we get positive news on Friday than it multibag and if negative, drop to 0.2p
This is favourite for US market and will fly on anticipation of positive result, no matter what has issue but their finance is healthy at the moment and easy for multibag in short term...sell half before result and get free ride works well:)