Member Info for Scot126

Sir Michael Spencer adds to his holding via private placement. Proceeds cover the Sept quarter payment due to the CB holder, to be paid in cash.

1) huge display of support by largest shareholder

2) reduced supply of stock over the next 8 weeks.

Over to you Mangrove!

Well played to PANR BoD and Sir Michael. Chapeau......

Adz - forgive me, perhaps you'd be kind enough to point me to Louise/Jim's historical post which warned the PANR BoD and drilling contractors that the horizontal element of Alkaid-2 was located 100ft higher than it ought to have been due to the hitherto undiscovered gas cap?

What's that you say, Adz? There is no such warning post from Louise/Jim or anyone else for that matter because no-one on the entire planet was aware of the gas cap at that location of Alkaid-2.

Huh, that's odd. So Lousie/Jim was just flipping a coin on a binary outcome? So, Adz, what if the frack(s) hadn't intersected the gas cap and the well had exceeded the pre-drill guidance? Does anyone think we would have heard a squeak out of Jim/Louise in such a scenario. Nope, I don't think so either.

Speaking of Jim and him seeking subscribers for his paid for service. his trading model failed something awful when he encouraged folk to ignore/sell PANR when it first merged with GB at 18.25p in Q1'19. For a self-confessed trader who warns others not to "invest" in the E&P sector, his "trading only" strategy left his followers missing out on, what, an 8 bagger? Eek, bit embarrassing for the charlatan.

FWIW, readers of the Guild on the other place have received some factual information over the last few days which would provide a possible, maybe even likely, explanation for recent volume and timing of said volume. And it has nothing, nada, zero, zilch to do with the fundraise @ 17p announced last week.

88E Energy Limited

EEENF:OTCMKTS

RT Quote | Exchange | USD

Last | 1:27 PM EDT

0.0049 (-2%)

Volume 3.9m

0.0049 US Dollars = 0.004 GBP

Ok, the much anticipated fund raise has just been announced. I'm informed the deal price will be 17p. Was also told the minimum amount to be raised (US$10.5m) has already been "more than covered". On that basis, I'm in.

Mechanics: if you have a full service private client broker, instruct them to ring your order directly to the Canaccord dealers. If not, suggest you go through Primary Bid.

Disagree entirely with Candlestick. "just because that’s what happens every time." That's just made up nonsense, I'm afraid. There are no academic studies which support this made up nonsense.

I suspect the shorters will be very unpleasantly surprised that the company has raised fresh capital.

20:51
Please note Louis10 is not denying stating of 88E and PANR: "There aren't any investment cases, Scot. These are plays which have been rejected by all the real oil companies."

Jim/Louise10 is lying.

20:51
Factually incorrect. Oilman Jim/Louis10 blocked me on Twitter.

18:03
Bit of context.

There's been some to and fro with Oilman Jim/Louis10 on the PANR thread, as you can all perhaps imagine! When discussing the investment cases (plural) of 88E and PANR, Louis10 posted the following: "There aren't any investment cases, Scot. These are plays which have been rejected by all the real oil companies."

Oilman Jim/Louise is not a good actor. Say what you like about me (and you do!) but I do the research and am interested solely in the fundamentals of both companies. Louise thinks we're all marks to be taken advantage of. It is a statement of fact that prior to exhorting his readers to buy 88E he wrote that he "didn't think much of the asset."

You may dislike my content but I'm not seeking to take advantage of anyone and I don't rely on lying and deceit to deliver my investment returns. Up to the forum's members how you wish to react to this person's conduct.

19:53
Not madness, Jim/Louise. Just because it doesn't suit your narrative doesn't mean it's "madness". The CB is long dated which allows plenty of time to flow test the SMD this summer, receive and disseminate the 2x CPRs written by Netherland Sewell and to execute the dataroom/farm out process.

19:51
I have a few responses to this post by Jim/Louis10.

"There aren't any investment cases, Scot. These are plays which have been rejected by all the real oil companies."

I have an advantage over Jim. I know the guy who led the farm in entity which, in turn, saw contracts drawn up in Nov '21 to enable a $1bn 3 staged investment for 30% of PANR's asset base. It didn't go ahead for a couple of reasons but nothing to do with any doubts about the data collected by PANR/GB. This potential farm in entity was as real a US O&G name as you could wish for.

Jim/Louise must know what Netherland Sewell intend to write about Theta West and Alkaid in their upcoming CPRs. How else would he know that there "aren't any investment cases" when referring to PANR and 88E?

Let's test Jim/Louise's ethics, shall we? Louise - I look forward to you reposting on the 88E lse forum that, in relation to 88E and PANR, "There are no investment cases." Over to you, Jim.

18:03
Dear All - for those who haven't recognised it yet, Louis10 = Oilman Jim.

Jim/Louise urged his readers to invest in 88E despite previously being *on the record* stating that he "didn't think much of the asset." Jim/Lousie is a nihilistic trader, who seeks to use his blog to attract the less sophisticated investor cohort to buy E&Ps in order to deliver him and his "swing trader" mates their trading profits. And who is selling to these less sophisticated punters after they read Jim/Louise's content? Yep, none other than Jim and his crew of "swing traders". Unethical as ****.

Please don't forget to ask Jim/Louise *repeatedly* where you should look for his post/blog/tweet alerting everyone to the danger of Alkaid-2's horizontal drill intersecting a hitherto undiscovered gas cap. Where was his exhortation for PANR to drill the horizontal part of the well about 100ft deeper which, according to Schlumberger, would have delivered flows in excess of pre-drill guidance. Naturally Jim/Louise won't be able to point to any such content because none exists, anywhere.

Unlike Jim, I have researched and modelled the fundamentals of the PANR and 88E investment cases. Unlike Jim, I don't speak with forked tongue. I'm sticking to the fundamentals and am happy to do so.

NB If one had followed Jim's blog, you would have shorted PANR @ 15.25p when it merged with Great Bear. Admittedly that trade is a little less uncomfortable now (!), but imagine the pain when it was 150p!

Don't forget to ask Jim/Louise what NPV per share he's modelled for 88E. And ask him why he "doesn't think much of the asset."

18:52
Jim/Louise - was it the "real world" when the PANR SP was 150p? If someone had shorted PANR at 15.25p, as you would have had your followers do, they would surely have asked the same question of you. Must have been painful.

Unlike you, Jim, I have researched and modelled the fundamentals of the PANR and 88E investment cases. Unlike you, I don't speak with forked tongue.

Jim/Louise urged his readers to invest in 88E despite previously being on the record stating that he "didn't think much of the asset." Jim/Lousie is a nihilistic trader, who seeks to use his blog to attract the less sophisticated investor cohort to buy E&Ps in order to deliver him and his "swing trader" mates their trading profits. And who is selling to these less sophisticated punters after they read Jim/Louies' content? Yep, none other than Jim and his crew of "swing traders". Unethical as f^ck.

14:27
jemgeee - I note generations of vigorous inbreeding has clearly led to a serious allergy about being truthful. There's no "roadshow". You just made it up and thought to yourself, "F^ck it, I'll just go ahead and post this on a public forum. Who cares about the illegality of my actions? Are the FCA going to chase me up? Doubt it."

As has been debated elsewhere on the Guild, where a large number of sizable shareholders are members, the *far more likely scenario* would see a small-ish fundraise; sufficient to deliver the SMD flow test at the Alkaid-2 gravel pad this summer plus ensure the delivery of 2x Netherland Sewell CPRs plus execute dataroom/farm out process. There is no necessity nor appetite nor groundswell of support amongst shareholders for a fundraise of "£30 - £40m". Simply not going to happen IMO.

Jim/Louise - isn't it odd that Louise was nowhere to be seen as PANR shares rose from 15.25p (at the time of the merger with Great Bear) all the way up to 150p? For a trader, that was some miss. Must have been embarrassing for the fellow.

Still, I guess he's making up for it now! Please don't forget to ask Jim/Louise *repeatedly* where you should look for his post/blog/tweet alerting everyone to the danger of Alkaid-2's horizontal drill intersecting a hitherto undiscovered gas cap. Where was his exhortation for PANR to drill the horizontal part of the well about 100ft deeper which, according to Schlumberger, would have delivered flows in excess of pre-drill guidance. Naturally Jim/Louise won't be able to point to any such content because none exists, anywhere.

The good news for fundamental investors is that the investment case remains robust. So robust, in fact, that the list of external organisations verifying PANR's data is growing, not contracting. Of course when we look at the SP it can appear the liars such as jemgeee know something we don't. But it's just not the case. Fact.

I'm sticking to the fundamentals and am happy to do so.

15:18
Ok, spambo, by that logic no service company in the world is honest. Professional services companies have no ethical imperative to tell the truth and all their employees are crooks. Riiiiight. Conspiracy theorist much?

Let's critically examine your logic, shall we?

1) The two founders of eSeis are credited with the discovery of the 1.2bbo Alpine oilfield in Alaska, the third largest field on the North Slope (so far). eSeis swapped a cash payment of $2.75m for professional services for a 1% ORRI (look it up if you don't recognise the acronym, spambo) over PANR's assets. To be crystal clear, that means eSeis don't receive a penny until commercial oil is produced and thus royalties payable. One of those eSeis founders, Roger Young, is on the record stating that Alpine will not be the largest discovery in his career - PANR's will be.

2) The State of Alaska Dept of Natural Resources has awarded PANR two Production Units at Alkaid and Talitha. Are you alleging these civil servants have somehow been bribed? Must surely be the case because only folk paid by PANR are involved in anything which supports the investment case. Correct?

3) So, spambo, we now move to the incoming Netherland Sewell CPRs/IERs on Theta West and Alkaid. I think the following is a very reasonable statement: if an O&G company was seeking to mask or hide or cover up gaps or omissions from its dataset, Netherland Sewell would be one of a handful of global, industry-respected CPR authors which such companies would avoid like the plague. I have no doubt you and Oilman Jim/Louise will reject whatever conclusions Netherland Sewell arrive at simply because they were paid for their work. Nevertheless, you'll be hard-pressed to find industry practitioners who will share such an opinion when it comes to Netherland Sewell.

Let's agree to meet up again on this here forum when the CPR results are published. Theta West will be the first one to be published, fyi.

16:43
Up to each individual, dai2belts. If someone wanted to sell an equity with exposure to a higher priced barrel of oil in the ground for a higher classification and cheaper barrel in the ground in another equity, then mathematically that would make sense.

16:52
JEZZAC - I refer you to an earlier post. "As for share prices; I repeat that I am an investor and not a trader. Everyone is 100% welcome to judge my investments when either the company/asset is sold or when I sell my shares, and not a millisecond before then." So, as I'm sure must be obvious, the only share price I'm interested in is the exit share price.

My question to you, JEZZAC. If you assess the 88E price to be fair, what is your fair price for PANR?

Part 2, continued from Part 1 below.

Mon 10:06
Ecuagold is correct IMO. If 88E is to flow test the BFF, 2x SFS and 3x SMD horizons located at Hickory-1 next winter, I guesstimate they will have to raise a minimum of $8m - $10m to finance the activity. That’s if 88E is to self-finance the planned operations.

Debate on share consolidation. With >20bn shares on issue, I can see why members of this forum are debating the subject. FYI – Dave Wall was always of the opinion that share consolidations did no good for shareholders. There are quite a few statistical studies on the subject carried out by financial institutions and academia. Like others on this forum, I have seen no formal source cited which would suggest the 88E BoD is considering such a step.

Why might it be considered? I guess if the shares on issue began to rub up against the rules of the exchanges on which 88E trades (ASX, AIM, US OTC) then there might be a decent motivation for a share consolidation? For example, I’m happy to be informed/educated on this question as it pertains to the OTC? I can certainly see why 88E would wish to retain its US OTC listing due to the fact the assets are located there and the large addressable investor base. Hope that helps?

Fri 21:04
ShareGuru22 - it must be difficult going through life with such a low level of reading comprehension. I have *not* advised anyone what to do with their own money.

I research and analyse the fundamentals of 88E and PANR in order to assist in price discovery using comparative valuation methodologies. I clearly label facts as facts, maths as maths and opinions as opinions. Just because you don't like the content of my posts does not mean I am a "troll".

I am not paid to troll or bad mouth 88E on this or any other forum. I am not paid to persuade anyone to buy/sell/hold any listed security. I hold no such license to do so. Furthermore, it's none of my business what another individual does with his or her money. That said, it does not preclude me from undertaking and posting the results of my fundamental research into 88E and PANR. As has been the case since the day Dave Wall confirmed 88E shared an asset with PANR, everyone on this forum has been welcome to fact check the likes of me, olderwiser and Rabito79.

Fri 21:15
Redirons – it’s not a case of better or worse, good v’s bad. What a childish view of the stockmarket. It’s about the fundamental value of each equity. PANR has a demonstrably larger OIP and recoverable resource v’s 88E. PANR is updip, possesses reduced phasing risk and Dmax calculations are in its favour v’s 88E’s portion of the asset. PANR is literally years and hundreds of millions of dollars ahead of 88E in data collection and proof of concept. These are all empirical facts. Refer me to an educated source who argues the contrary.

As for share prices; I repeat that I am an investor and not a trader. Everyone is 100% welcome to judge my investments when either the company/asset is sold or when I sell my shares, and not a millisecond before then.

It’s nothing to do with wishing a company or group of shareholders good or ill. Fundamental investors don’t think that way. We rely on empirical facts, research, risk, probability, comparable metrics and lots more. I have not seen one credible justification for an 88E barrel in the ground being worth 2-3x that of a PANR barrel in the ground. Have you?

As for what the PANR leadership assess is the difference between the two portions of the shared asset, I’d encourage members of this forum re-read the following from PANR’s most recent RNS dated 21/4/23:

“Importantly, the reservoirs encountered in Hickory #1 are all hydrocarbon bearing and present on Pantheon's acreage, which has the benefit of being shallower and updip of Hickory #1, with a lower maximum burial depth ("Dmax") which typically results in improved reservoir properties.”

The facts are staring you all in the face. Burying your collective heads in the sand is, I submit, not a viable investment strategy in the medium to long term.

Part 1, see above for Part 2.

10:18
Rktech,
"We all benefit by amalgamating our technical data to produce the best outcome for both companies. More data leads to increased geological understanding and lower overall extraction risk."
"This something that the likes of Scot do not understand!!"

Absolute bunkum. Point to one post where I have argued against data sharing between 88E and PANR? You won't because I have never written such a post. Why not? Simple, because I don't have this opinion. So you can cut off that nonsense for a start.

10:19
Hi anyoneforcricket - there's no legal or philosophical obstacle that I'm aware of preventing two listed companies which share an asset in Alaska from merging. In the end, it comes down to whether there is a compelling rationale + clear benefits to the merger, and of course if both Boards can agree upon value.

OK, I may as well deal with the question of comparative value now. For any 88E shareholder thinking there may be an argument for a merger of equals now or further down the track then forget it. It's never going to happen. No matter how many scornful posts are directed at me, there's not a snowball's chance in hell that a merger would occur which follows the current ratio of mkt caps, being approx 40:60, 88E:PANR. Yes, I 100% accept the current mkt caps are approx £100m and £160m but the market is dead wrong IMO based on the differential in scale and quality of the non-equal portions of the shared asset, plus the huge differential in data collection and interpretation.

Cue wails and gnashing of teeth from the usual suspects on this forum. Fine. But mark my words, there will be no merger now or at *any time in the future* which would see 88E shareholders emerge with anything more than 5-10% of the post-merger entity. Perfectly happy to have this paragraph quoted back at me if the topic of a merger ever pops up on this forum again.

17:36
Redirons - I am not a "troll". I research and analyse the fundamentals of 88E and PANR in order to assist in price discovery using comparative valuation methodologies. I clearly label facts as facts, maths as maths and opinions as opinions. Just because you don't like the content of my posts does not mean I am a troll.

I may as well deal with the following allegation. I am not paid to troll or bad mouth 88E on this or any other forum. I am not paid to persuade anyone to buy/sell/hold any listed security. I hold no such license to do so. Furthermore, it's none of my business what another individual does with his or her money. That said, it does not preclude me from undertaking and posting the results of my fundamental research into 88E and PANR. As has been the case since the day Dave Wall confirmed 88E shared an asset with PANR everyone on this forum has been welcome to fact check the likes of me, olderwiser and Rabito79.

There is simply no justification for an 88E barrel in the ground to be valued at 2-3x a PANR barrel in the ground. None.

22:45
Couldn't be more wrong, Jim. That's exactly what the industry standard risked/unrisked model was designed to recognise which in turn permits the investor to make the personal call whether the risk/return is acceptable. Had you listened to the webinars instead of mocking them, Jim, you'd know management assess PANR has collected sufficient data to have achieved the threshold necessary to declare 100% geological CoS. In addition, Bob Rosenthal declared commercial CoS was "between 60 and 70%".

Folks - this is decidedly *not* heading towards an end game, as Oilman Jim/Louise would have you believe. Note how quiet after he panned PANR at 15.25p when it merged with Great Bear. Note how he was nowhere to be found all the way from 15.25p to 152p. Please also note the munificent Oilman Jim didn't warn PANR shareholders the Alkaid-2 horizontal was located c.100ft too shallow and that it was going to intersect a hitherto undiscovered gas cap. There's a good reason why he didn't warn anyone about the gas cap....because no-one on the planet knew of its presence, never mind the author of a "highly regarded" book on the E&P sector.

Jim - why is it you're on record stating that you "don't think much of the [shared] asset [PANR & 88E]" and yet you once again gee-ed up the rubes to buy 88E this season? The fundamentals support PANR at these and far, far higher. You have just fluffed a whole new cohort of ill-informed punters into 88E. But instead of delivering you and your "swing trader" cronies a profit by taking advantage of these folk, you not only lost these punters millions but you and your chums didn't make much this time around, did you?

Jim/Louise - still waiting on your comparative analysis of PANR and 88E. Also still wating for your risked/unrisked models of PANR and 88E. If you recall, I generously left open the possibility you had the capacity to construct such industry models. I was wrong. An imposter such as you wouldn't know where to start. Pathetic.

The difference between you and I, Jim? I don't rely on lying and misinformation to deliver returns on my investments. I let the fundamentals do the talking. It doesn't guarantee success but it's done me well over the decades. You, OTOH, look to take advantage of the credulous rubes, revving up the punters into stocks trading well above their fundamental value - all in order to sell them your own pa stock thus delivering you a trading profit. And your blog and social media presence is the primary tool for the baseless revving. Sickening.

15:26
Rhambo - what's your risked/unrisked NPV per share for PANR?

The forum should perhaps think on this whenever trolls who refuse to discuss the facts of the investment case come along. If they had any new data or facts to bring to the fore then I'd be all ears. They don't so I don't.

Rhambo and Louise v's Schlumberger (17.8bbo OIP validated) + AHS Baker Hughes (3xVAS reports, "world class petroleum system") + Lee Keeling (2x IERs) + eSeis (2 guys who discovered Alpine take ORRI rather than cash) + WoodMac assessment that Theta West was the largest onshore discovery globally in 2022 (and 4th overall) + Netherland Sewell (2x CPRs, first on Theta West due in coming weeks).

Internet trolls v's what is now tens (maybe >100 by now?) O&G professionals who have seen the full dataset. Call me old fashioned but I'm going with the guys who have seen the dataset.

10:09
You're dead wrong, chrisev1. 88E management will have Longhorn to pay salaries but any a) growth in asset value or b) the ability to raise capital or c) attract a farm in partner relies now entirely on the shared asset. And the company which owns 80-90% of that asset by value and size, owns the entire updip portion and has years more data than 88E is PANR. These are called facts.

The value of 88E has never been more tied to PANR's success. That you don't accept it to be the case is a chrisev1 problem, not a scot126 problem.

08:48
Hi Rayvon68 - you're dead wrong, sadly. The dividend from Longhorn doesn't even cover 88E's G&A. Go sow your misinformation some place else.

09:11
Hiya shareguru22 - something you're going to have to understand,digest and accept in the coming weeks is that if 88E is to stand any chance of increasing in value from its current level, is as follows. With its larger share of the combined asset, its superior geological properties and its vastly larger dataset, PANR has an easier and shorter path to proof of concept than 88E.

88E shareholders and management must be be praying harder than anyone that the incoming IERs from Netherland Sewell on PANR's Theta West and Alkaid projects will be positive. What you still fail to acknowledge on an intellectual level, SG22, is that 88E's fate relies pretty much entirely on PANR's success. Fact.