Member Info for SeaHawk

Kevin if that is pointed at me I have listened to the interview and read the RNS and to me 7 months is not on the back burner, as stated I want DW focused on our acreage. If everything looks really good for another try let one of the other companies lead and we can just produce some cash but that would also depend on a good FO that gives us loads of cash.

it certainly turned into a bit of a monster! Not his best look especially when you added poor old PB to the stage who invariably looked like he had just returned from 6 months prospecting based from a two man tent. Boy I miss him he added something special to the company and his enthusiasm was contagious.

An excellent interview that has obviously attracted some nice chunky buys today. Lets hope the SP continues to rise into a really good FO. It would be really nice to wake up to some really stonkingly good news for a change.

Thats simply not true Neversatisfied, I don't care if its good or bad news he is simply useless at writing them. After IW1 when the potential resource was released (which was good news) the RNS had so many errors and missing details that the SP crashed rather than at the very least holding steady. I remember people spent all day trying to decipher what had been said and sending emails to DW. The worst bit was basically saying the report was rubbish because they didn't understand the shale.

I for one hope it is put well and truly on the back burner, I don't want another go at it when we have our own oil to get out of the ground. I want the company totally focused on our own conventional and FO, HRZ and another FO and possibly Yukon depending on the 3D results.

Funny really as I was not convinced at all that the positive RNS which came out on WINX was written by DW. I suspect one of the other companies may have put it together because it was a very well written piece (I am not talking about the content or about the fact it was a positive RNS) especially after that bloody awful effort on the Fri and again I am not talking about the bad news but the way it was put over and the lack of detail.

Tinlode its not the factual writing that's the problem its the god awful way he puts it and the far too often mistakes.

CWS I remember it being quite a surprise when DW announced it at the briefing, I have no doubt whatsoever that PB had input but I suspect that money was also a big consideration, which also led to the lack of winterisation kit available.

Phrontist you do have some valid points. DW salary is on the very large side considering the company has not yet earned a single dollar in the last 4 years. I am not quite sure how it managed to reach the level it did without some serious questions being asked. Last September I did in fact raise with DW his new bonus scheme and that a lot of people were not happy, his answer was that it was within the norms for companies like 88E and he appeared quite surprised. I like DW (I have met him 4 times now)he seems to be down to earth but I do believe he has a bit of an ego and does not take criticism very well.

You are right that we seem to have lost focus on the HRZ and I am surprised it took another company we are paying to tell us to go to BH the experts. I would have thought that a company like them would have been called straight after IW2 did not flow as expected in the year we drilled the hole. We wasted a whole year and more money trying to get it flow the following year to no avail. I found it interesting with WINX that we were prepared to frac and flow test in the depths of winter and yet with IW2 we had to wait until summer before doing our drill and then ran out of time because we had not prepared for winter setting in. Question is are we spending too much time buying up land etc and not enough on the drilling operations.

You are right if the company has not got a dedicated geologist then it needs to find one ASP, I struggle to believe an oil exploration company does not have one but I would support getting one ASP.

All will be alright if DW manages a reasonable FO, however, whatever the deal is it better come with a nice load of cash because I think DW will struggle to raise lots of cash again until some flipping oil comes out of the ground. I for one do not want to see a cash raise to pay his enormous salary.

Yea right Breadcrumbs like we all want to read that crooks work.

All good points money hawk the trouble is that we are now on our 4th year with not a drop of oil to the surface (i don't count a couple of beakers from IW1). If we need to raise more money DW is going to find it extremely difficult, it now comes down to the FO. If that does not come in then I am afraid its just about curtains for 88e and almost certainly for DW. I think DW has setup Yukon as the lifeboat for himself I just hope he does not have to use it.

Nope you are wrong welshy.

Moneyhawk you are forgetting the remaining oil to us after fo will be at full price not $5. So depending on oil price $20 odd $ per barrel.

Jeff with oil now over $60 I would hope for at least something similar eg $3 a barrel. That would still leave an enormous amount for whoever buys in. It will come down to how much oil there is, how much to get it out and to a pumping station. $200/$300 million in the bank would allow us to complete 3d on our land, have at least another go at HRZ, possibly do our own drills on the conventional and something similar with Yukon. But I suspect it would soon disappear as everything is damn expensive to complete in Alaska.

Blimy Rosso please don’t do that again I almost fell out of my chair in excitement!

Darkelf I expect that is their intent but it may all change after the wire logging. Its a shame we could not have started earlier and given ourselves a chance to test both areas of interest but with ice roads and the pad to be built I expect this was the earliest we could drill. Hopefully the WL will give us enough information that we can still sell the whole lot off for many millions.

Wolverine that's a double ouch I hope health wise everything is okay, more important than money.

I really hope he did not pull out after all this time, he understandably was not a happy Assie after Fri but I hope he hung in.

Staycalm there is a way to go before we can say no more dilution, I am intrigued as to what happens next with regards Winx if we discover lots of oil. Hopefully we get an offer PDQ and we can bank the money, however, we have partners to consider and nothing happens quickly when hundred of millions of dollars are the cost. Oil first then time to make serious money.

Bothwell come on its very simple we have over 6nn shares they have well under 1bn.