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Same as yesterday?
Cat - I think most folks would have realised the tongue in cheek nature of the comment..... but thanks for your diligence.
For me the current FO is actually the least interesting project, but hopefully it acts as a revenue earner for the others.
Another go at the HRZ with Baker Hughes leading, another crack at Winx oil rather than Winx tarmac, and of course the potential of Yukon Gold either on our own or in a consortium.
Lots to look forward to IMO.
Citytilidie I share your optimism, but the lure of big money is bound to kick in for all of us at some point depending on our own outlook and requirements.
I'd love to have the bottle to hold out for the £1 party, but more likely to jump ship at 20p as that represents a significant return that would be very hard to turn down.
Be interesting to see how many sell as soon as there is a rise in the sp that allows them to, and how many (of us) LTH retain our holding while the momentum builds over the next XX months regarding the other projects that (hopefully) we have some cash to then persue.
That tells its own story - nobody holding shares wants to be out of this with the RNS so close in the hope of an upturn in the sp, but potential investors are happy to keep their cash locked up safe until the RNS firms up the drilling schedule giving them something tangible to invest in.
Please - no more references to Tangiers, fortunately I held on to the shares rather than bail out after the duster though. That is a sorry episode left well in the past!
Onwards and upwards to the 10p target.
NYSE now open - come on the yanks!
For many companies a 100 or 200% rise would be a huge deal, but for us the sp will still be much lower than the potential of the company over the next couple of years with the HRZ, Winx, and Yukon still to come.
I am hoping for an sp rise like everyone else, but what I really want to see is a program of proposed drilling (probably based on evaluation of results as we go) rather than just one or two wells. That would signify 'huge' to me.
Bridgedogg1, how do we know its going to be a 'huge deal'?
If there is any delaying factors it would seem more logical that they are on the other side rather than 88E. This is a big commitment for somebody with long-term implications, so they will want to make sure it all stacks up from their own point of view and will keep asking for more info until they are ready to sign.
I'd love it to be in June for all of us, but if a mega deal comes along in July or Aug I am still going to be a happy man.
..I may be tempted to top up again.
Come on DW, 'lets be havin you' as they say over here. My bank balance needs topping up not emptying!
Pretty sure DW could not buy from the market while farm-out negotiations underway.
Hi dougiek, you are correct that there are potentially a lot of wealthy people invested in 88E, I'm one of them (potentially!).
Unfortunately that wealth can only be accessed once we have oil on the surface ready for sale, and we are nowhere near that at the moment, but hopefully some Tier 1 oil company will do that via a farm-in so 88E can hang onto their coat tails and take a percentage of each barrel. Maybe then we long term, and long suffering, investors may not only see an sp that represents a break even point, but also turn a decent profit.
Last bit:
To the east, the latest news on 88 Energy’s Yukon leases has not publicly changed, in that discussions have been initiated by the company with nearby lease owners to “optimize the monetization strategy for existing discovered resources” in the vicinity.
88 Energy’s Yukon leases contain the 86 million-barrel Cascade prospect, which was intersected peripherally by the Yukon Gold No. 1 well, drilled in 1994 by BP, and classified as an historic oil discovery. Near the border of the ANWR 1002 area, the leases are close to recently commissioned infrastructure.
The full story:
Vol. 24, No.24 Week of June 16, 2019
88E to drill Charlie
Targeting Brookian Torok and Schrader, picks up Heavenly prospect
Kay Cashman
Petroleum News
88 Energy is planning an exploration well in its Western Play Fairway for the upcoming off-road winter drilling season on Alaska’s North Slope. Charlie No. 1 will target stacked plays in the Brookian Torok and Schrader Bluff sands, general manager of operations Erik Opstad told Petroleum News in a recent interview.
“We’re proceeding ahead with permitting. We have most of the operational permits in place, but we’re working on minor amendments and updates to those permits as a result of refinements of the well location. The ice road to a location was originally permitted last year prior to completing interpretation of the latest 3-D shoot, but those results have allowed us to refine that original location,” he said.
Located approximately 30 miles west of the Dalton Highway and southeast of the Winx No. 1 well the company drilled last winter, 88 Energy shows the Charlie prospect as potentially holding as much as 304 million barrels of oil in place, a low of 126 million barrels, a gross mean of 210 million barrels with a net mean of 163 million barrels to the company.
A permit to drill application will be submitted to the Alaska Oil and Gas Conservation Commission when the well design is finalized, Opstad said.
Also in the Western Play Fairway, 88 Energy recently picked up 10-year leases from Arctic Slope Regional Corp. in the Heavenly prospect (see map), which is where Phillips Petroleum drilled the Heavenly No. 1 discovery well west of White Hills in 2002.
In a recent presentation, 88 Energy shows Heavenly’s Torok discovery as having as much as 120 million barrels of oil, a low of 22 million barrels, a gross mean of 68 million barrels and a net mean to the company of 58 million barrels.
In its Alaska update at the end of May, the company said “good progress has been made on integration of the Winx-1 well results into the existing 3-D seismic volume. Additional data, that will aid in the evaluation process for the Western Block, has been identified. The forward program will be to access this data and reprocess and reinterpret the 3-D seismic.” 88 Energy anticipated having all the evaluation work finished before the end of the year.
Project Icewine, Yukon Gold
88 Energy said that finalization of advanced analysis using state-of-the-art technology has significantly advanced the joint venture’s understanding of the nature of their HRZ play, noting that analysis has “confirmed that the HRZ is an excellent source rock with good potential as an economic shale play. The nature of the dominant kerogen in the HRZ has been demonstrated to be prone to more rapid transformation into hydrocarbons than other shales initially used for comparison. This means that the thermal maturity window for volatile oil in the HRZ is at lower temperature than that typicall
This is like watching paint dry.
You know its going to happen, but every time you check more time is still needed. I was out of the UK yesterday and worried I might miss an announcement - what a chump!
Price being forced down on no news - perhaps those with an automatic stop loss are being triggered by the MM's to provide a pool to offer when the RNS hits - tomorrow maybe?
People are starting to get in line ready for the RNS. Can't be long now.
A good read...