Member Info for SeaHawk

I am putting on a brave face at the moment, if you check previous posts I was trying to be far more realistic than most, this FO is however at the low end of my expectations. I was hoping for some money up front to stave off the shouts of there needs to be cash raised, we will have to see, but we don’t have enough to do anything other than survive for a year and cannot push forward on our own. 1 x drill is also disappointing if it comes up dry then we are stuffed I would have liked another drill in there to at least provide some fall back.

Still this is better than no FO and the company moves forward, what we really need is some oil on the surface and hopefully Premier will help that happen.
Staying in to the end.

Would have been nice if DW had bothered to explain the different areas so that we would understand what we have offered up. Looks to be what we know as Indigo which would still leave us with a majority of the oil. I was expecting us to give up almost all of the conventional so this explains why it’s only one drill at the moment. Come DW tell us what area A consists of.

Yes it’s strange behaviour Brom but at a guess it’s people who are well down and stuck in the stock and are duly pizzas off. It will also be others who sold at a lost and have a grudge against 88e. Let’s face it DW knows how to talk the talk but as of yet has not managed to get any black gold out of the ground. Time to walk the walk so as to speak.

Bridgedogg I actually was not thinking of Winx or IW1/2 more of the conventional hopefully on our land. We have not proved it’s there yet, so worth less.

Because Jiddy we have yet to see a drop of oil out of the ground. Had we sunk a well and it flowed then we would have been quids in but we haven’t. I really hope I am wrong and you are right and it turns out massive.

Would be fantastic if it was BP.

Nutsey I think you need to lower your expectations. If we get what you state I will be happy as it’s the sort of figures and number of drills that DW has been talking about from the start. Obviously I would love more but we will have to see. I actually expect less, 2 drills and around 10m and I might be dissapointed as well.

Give it a rest Lefkosia it’s no wonder you are intensely disliked by most. When in a hole stop digging!

Guzzler RNS writing is not his forte, although he has got better at it recently. I just have my fingers crossed that when he writes the FO RNS that he is having a good day. I have seen too many RNS from DW that should have given us a nice rise, but because the RNS was poorly written and left way to many questions the SP went down not up.

I suppose if it is a US Major any FO would be announced for the start of the US day not ours or Aussie. I would imagine that the major player is going to announce first or at least at the same time, so it could still be announced today allowing DW to include it in his Q report tomorrow. Either way I am looking forward to this FO announcement happening ASP as it seems we have been in limbo for a long time. I am getting far more excitement from my unit trusts at the moment which is saying something.

Desmond he won’t do it for 2p as his options won’t kick in, so it would be for a minimum of 3p!

Nutsy please don't do this, there is no way we are getting to 10p or getting a 100 million cash out of this FO. All you are doing is raising expectations so that when the realistic amount is announced everybody is disappointed. 2-3p is much more likely with perhaps 6-10 million if we are lucky. If we get oil out of the ground in copious amounts then we might see 10p.

MILO so what if it goes into another quarter we now know that there will be at least 1 drill next winter something we could not afford to do on our own. It also shows that somebody else much bigger than us has looked at the details and also believes the oil is there.

AIM4 for any big tier 1 company this investment in 88e will be small beer. It might seem huge to us but as Phrontist has pointed out CP have set aside 6Bn for new projects this year. Lets say a couple of drills and ice roads 50 million and a bung to us for money spent so far 10 million. Total 60 millions of this years funding which is to CP peanuts. What they might get out of it in terms of 2 odd billion barrels of oil is not. This is an easy risk for a big company.

Spike unlikely the board of whichever company this is will have signed off on the deal without seeing the contract in full. There will now be a raft of paperwork to be completed as this also involves BEX, Alaskan authorities, US authorities and the new company. Its happening folks and the journey continues, potentially billions of barrels of oil, it might take a couple of years but this will get well above 10p if the oil flows.

Next up hopefully will be Shale FO but we now know the sort of timelines this takes. Take a deep breath DW and then get that room open!

Blimey Phrontist we need to get to the 1st July before it becomes another delay! However, I feel your frustrations, it feels as though the last two years have been very slow. A real shame that WINX did not come in as that would have injected some enthusiasm into the company but not to be (I am quite annoyed that we are now told they drilled in the wrong spot as the cash raise at that SP hurt big time with dilution). I think what I am most looking forward to with the FO is having a big company running things with the cash to do it properly; as it is now starting to look like we did the HRZ on a wing and a prayer. How come we did not redo the log on IW1 if it did not go right the first time and we had data washout! Anyhow onwards and upwards (would like some upward movement to the surface of some oil).

Actually Silver to one of the big players this really is small beer say 100m. A couple of drills, ice roads and a small amount of dosh to 88e for the potential of nearly 2bn barrels of oil just for starters. As long as 3d passes muster this should be a no brainer.

We are all put out of this misery soon, I am getting tired of waiting for this now. Lets all hope that Dave finally manages to write a decent RNS that is clear and concise that can be understood by all and does not include mistakes or caveats.

PS if the FO has not come off you can write whatever crap you want because it will be the end as far as I am concerned.

Desmond they also have 10bn shares in issue and only have a 16% interest in the find. Come on its a little bit different.

Desmond I m sure everybody over at those two companies are trying to work out how much money will be required to get the oil out of the ground commercially.