Member Info for Scot126

Hi ADG62 - IMO 88E was not "oversold". I can't justify an 88E mkt cap at 0.5p.

08:00
Hi Dave73 - so let me get this straight. 88E has to give up 40 or 50% of Project Icewine to a farm in partner......and you consider that to be "no cost"?

This, ladies and gentlemen, is the perfect example and definitive proof that 88E is not underpinned by investors. It's a massive game of punter pass the parcel. Don't believe me? Head over to Kate in NJ on Twitter and read the incredibly sad stories of folk who lost tens of thousands when they placed their trust in made up nonsense by posters like Infinity888.

Ok infinity888, tell the forum how 88E management is going to fund a drill in 2023 with only $10m Aussie in the bank?

I'll wait.

07:36
Incorrect again, infinity888. I'm bewildered by the endless stream of credulous casino punters who are attracted to the 88E game of pass the parcel. If these folk just did half an hour of reading they would realise 88E is far more expensive than PANR. Instead these naive punters take the easy road and place their trust in posters like you who elect to post publicly made up gibberish in order to take advantage financially of others' naivety.

You may think all's fair in love and war and AIM, but I don't.

07:14
Hi infinity888 - lol, many congrats on your word salad. PANR has "achieved their maximal potential"????? 23 bbo OIP and 2.3bbo recoverable resource with a 10% Recovery Factor which the CEO believes will rise to " mid to late 20%s" as further data is collected.......and you think posting your made up nonsense is not going to be challenged in the most robust fashion.

You are completely out if your depth and just making stuff up as you go along. Actually, you should fit in perfectly on this forum!!

00:27
Factually incorrect, Neversatisfied. On all traditional valuation metrics for E&P companies, 88E is around 2-3x more expensive than PANR using the currently available information.

Now then, do tell us how 88E is going to finance a drill in 2023 with only A$10m cash at hand? Hint - cash raise and/or big % of Icewine being "given away" to a farm in partner. Yikes.

Wooshka! Remember I asked Brom about the remaining payments due to be paid by 88E for Merlin-2? No wonder he didn't answer! Looks like Merlin-2 cost over A$40m, which is why 88E has only A$10.5m cash at hand.

If 88E is to drill just one well in 2023, it does not have sufficient cash to self-finance. This is now a confirmed mathematical fact. Thus, 88E shareholders must now accept that in the months to come there will be a) a significant capital raise b) a large slice of Project Icewine traded away to a farm in partner to finance the 2023 drill or c) both a) + b).

Apart from the Proactive article mentioning 88E last week, 88E's fundamentals have deteriorated (cash position) and yet the mkt cap has doubled.

Have a read of all the posts on this forum in the last 3 days. It's punter chatter, casino talk.....hardly a fact-based, research-based post amongst them. Be crystal clear that 88E's current mkt cap is *not* supported by fundamentals and it is exceptionally expensive on all valuation metrics v's PANR.

Buying 88E @ 1p is equivalent to buying PANR @ >200p. If you still think buying 88E is the better choice based on probability and fundamentals then you're deluding yourself.

*gilding the lily (sorry, predictive text)

17:12
One of the most breathtakingly cynical posts I've ever read.

This guy, the one with >26,000 posts, this thought leader has for years led the charge in belittling those who pointed out the multitude of factual errors, errors of comprehension and outright disinformation posted on this forum. He has twice admitted to profiting and taking advantage of the naive and credulous punters on the OTC who propelled massive spikes in the SP.

"It is what is is" eh, Brom?

Well if you're finally coming out behind the curtain, how about getting the answers to my questions from last week. Also, is 88E management willing the lily when describing to 88E shareholders their hope that the common reservoirs will possess even better characteristics south of the border than in PANR's acreage.....especially when DMAX calculations appear to have been completely ignored by 88E?

Ask yourselves.....this cult-like following for Brom. Where exactly has it got you all? DW and Erik are squillionaires....Brom took advantage of the cult to spike them and pocket the proceeds. Surely it's time to wake up???

Why sit in the bleachers when a seat behind the dugout is cheaper on a risk/return basis? And where activity on the ground is about to start *within 10 days* v's this time next year????

13:46
Incorrect GS. Then again there would be a collective fainting fit amongst PANR shareholders if you managed to relay an actual certified fact when you type out the word "Farallon" in your posts on this website! Oh, and please do forgive me for not correcting yet another word salad on the other forum and where once again you failed to comprehend the meaning of "hedging" within the financial markets.

FWIW I already answered this question on the 88E forum. The tax rebate belongs to the original Great Bear founders'n'funders. Sadly, Brom has not returned the honour by attempting to answer factual and pertinent questions posed to him about other matters in Alaska. I wonder why?

The question about drilling and timing for Alkaid-2. Bit of a guesstimate but I reckon the vertical component will be c.3 weeks post spud. The lateral component of the drill....maybe a further 3-4 weeks duration? Hope that helps.

12.24
Hiya Brom - the tax credits repayments revert back to the GB founders'n'funders. Glad to be of assistance. Perhaps you'd be honorable enough to return the favour and use your good offices to answer those pertinent, fair, reasonable, normal, factual questions I posed earlier this week?

It's odd you choose to answer factual questions which may result in a neutral/positive view of 88E and its management. And yet you go radio silent if the answer might cast a shadow over the conduct of 88E management.

Actually, Brom, I'm beginning to wonder if your advice to this forum to read "above, below and between the lines" wasn't some sort of quasi-confession? Or some sort of double bluff to distract readers from your highly partial approach to posting about 88E? Hmmm.....

Oh, and many congrats on getting over the 26,000 Mark for your posts on 88E.

PS Don't forget those questions which, I'm sure you'll agree, 88E shareholders *deserve* those answers. Thanks in anticipation.

23:12
No can do, Davelangley. I'm interested in the facts of the 88E investment Casey....no more, no less. Speaking of which...Brom, any luck getting answers to those questions I posed a couple of days ago? You recall? Total cost of acquisition of 3D seismic for Icewine? Have all the 2022 ELKO shares been sold? Has the cash been released from escrow by the BoD? What's the payment due to finish off and mobilise from Merlin-2?

These are facts which 88E shareholders are *entitled* to. Or does no-one care about the transfer of wealth from shareholders to company employees as per 2021 and 2022? Wake up!

20:48
Hi Davelangley - suggest you re-read the Geodes/Scot126 exchange again. Geodes' tweet was about crude deliveries to TAPS about to begin imminently. As a shareholder in both companies you'll be aware PANR is about to drill it's first production well at Alkaid-2. You'll also be aware that 88E is a) years away from producing commercial oil for TAPS b) years behind PANR in its geological understanding and modelling c) 10's (100's?) of millions of dollars and dilution behind PANR in delineating the asset in preparedness for development/asset sale/corporate sale.

Confusingly, for me and many others as it turned out, Geodes opted to tag 88E in that comment. Yes, the two companies undoubtedly share a reservoir or two. However, on a corporate level, there is clear blue water both qualitatively and quantitatively between the two enterprises at this point in time. Of course I understand why Geodes, who is self-admittedly down a fair whack on his 88E investment, would seek to conflate the messaging. I was happy to ensure the readers of that particular thread weren't going to working under the misapprehension that 88E was going to be contributing to TAPS any time soon. As a fundamental investor I find it essential to work with facts, you see.

As for your advice in the second part of your post, no is my answer. Good stuff.

11.44
chrisev1 - very good question. And it must be concerning for all other 88E shareholders too, seeing as it appears 88E's best/last/only opportunity to create meaningful shareholder value rests with Project Icewine and the shared resource.

NB PANR has spent $80m+ on 3D seismic and in excess of $300m over the last decade to understand and delineate their acreage and resource. That is one of many reasons for my statement that PANR is, quite literally, years ahead of 88E in its development of the investment case.

There is an empirical qualitative and quantitative difference between the two companies. Fact.

In answer to your question, apart from the macro stuff it is my *belief* Farallon has sold lots and lots of stock since the April webinar and has, deliberately or not, omitted to inform the company of such share sales.

That's my answer, chrisev1. I'm now going to repeat something I've been saying for ages and been abused and scoffed at for so doing. It behooves every single 88E shareholder who thinks of himself/herself as having an interest in facts and fundamentals to learn the PANR investment case. Your own BoD is telling you where to look for future direction. I submit it would be wilful ignorance not to accept this truth.

09:48
Hi Brom - you kindly informed this thread that 88E management respond to your emails very quickly. I believe you 100%. Would you kindly ask them:

1) What is the full payment for the 3D seismic data? 88E shareholders will note the payment in shares but this is only a part payment. Are shareholders not permitted to know the full payment terms? Seems odd, doesn't it? Is there a cash component? If so, how much and when is payment due? Any ORRI attached to payments? Is Erik Opstad or associates a party/parties to this transaction?

2) What is the cash balance following the payments made towards the end of Merlin-2 operations which were mentioned in the notes of the Q1 financial statement?

3) Has the 88E BoD released the funds from ELKO share sales in 2022? If so, when were the shares sold, at what price and what was the total sum realised? Did ELKO sell all of the shares allotted to them?

Thanks Brom. Look forward to that swift response you described previously.

More dilution (bad), escrow v's lock-ins (outrageous), purchase of 3D seismic (objectively good but what are the remaining terms? Any W.I. being given away, or ORRI?), no farm out agreement (zero surprise, why would any potential partner not wait for PANR's Alkiad-2 data to be released, would make no sense whatsoever?), Icewine-3 planned for sometime in 2023 (fair enough, until then 88E will follow PANR sentiment from afar because there'll be no activity until next Spring after the winter season finishes (summer drilling cheaper than winter drilling).

Consistent and logical question. Why invest in a seat in the bleachers when a seat right behind the dugout is cheaper on a risk/return basis? Oh, and the seats for the "dugout game" are available right now, with any action occurring ***a year*** before the "bleachers game".

Impressive looking piece of kit. Good stuff.

https://twitter.com/PantheonResour1/status/1534467795467046912?s=20&t=D_AUJ4nFXnRWM-Qo1E2PCA

14:19
Hi Brom - I completely and without reservation believe the contents of your post, timed at 14:19 today. I wonder if you would be so kind as to use your patently close relationship with the company to address the normal, standard, factual question contained in a post I made a few days ago? I'm certain all 88E shareholders will be interested in a factual answer because it may (will?) affect their expectations about whether 88E has the capacity to fund any future drilling at Project Icewine *by itself* or whether they are actually mathematically reliant on a farm down or raising fresh capital? I'm sure you'll agree this is a perfectly normal question to ask of the management of an E&P company?

"Hi all genuine 88E LTHs. I have a 100% genuine, factual, information-seeking question. I fully appreciate that cash outflows for Q2 will be markedly less than for Q1. However, and as noted in the answer contained in section 8.8.1 of the Q1 Quarterly Report:

"8.2 relates to costs with the Merlin 2 well which are fully covered by existing cash reserves. The Merlin 2 well expenditure will reduce in the second quarter with drilling operations, plugging of the well and demobilisation of equipment and people concluding in April 2022."

There looks like there will be some residual payments to be made for the back end of operations at Merlin-2. Is anyone aware of guidance from the company as to the approx cash outflow in Q2 which will finalise all invoices and accounts payable associated with Merlin-2?

I appreciate 88E has notified shareholders it had A$32.6 in cash (no debt) at period end, equivalent to c.US$24m. I'm enquiring how much of that cash is earmarked to finalise the payments due for the Merlin-2 operation?

Can anyone assist please? Thanks in anticipation."

Thanks in anticipation, Brom.

I wonder if Brom will do the honourable thing and seek to answer this question? I can't help but note Brom doesn't post the overseas closing prices of 88E anymore. Huh? Surely he's not just a fair-weather friend? Surely he hasn't just repeated *exactly what he admitted to last year* which was to post only partial commentary whilst selling into the ludicrously misinformed hype created by social media "influencers"?

Hmmm.....and yet he retains his cult status here. Odd, Mr Watson, most odd indeed,

21:51
Hi DarthInvester - you've got the wrong end of the stick here. It's 88E which will be paying invoices in Q2 for the back end of Merlin-2 operations, exactly as quoted in their Q1 report. Trust that helps with your understanding.

Hi all genuine 88E LTHs. I have a 100% genuine, factual, information-seeking question. I fully appreciate that cash outflows for Q2 will be markedly less than for Q1. However, and as noted in the answer contained in section 8.8.1:

"8.2 relates to costs with the Merlin 2 well which are fully covered by existing cash reserves. The Merlin 2 well expenditure will reduce in the second quarter with drilling operations, plugging of the well and demobilisation of equipment and people concluding in April 2022."

there looks like there will be some residual payments to be made for the back end of operations at Merlin-2. Is anyone aware of guidance from the company as to the approx cash outflow in Q2 which will finalise all invoices and accounts payable associated with Merlin-2?

I appreciate 88E has notified shareholders it had A$32.6 in cash (no debt) at period end, equivalent to c.US$24m. I'm enquiring how much of that cash is earmarked to finalise the payments due for the Merlin-2 operation.

Can anyone assist please? Thanks in anticipation.