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Spot on shaa, the fall in SP this week has absolutely nothing to do with CR, lack of oil, the BOD or anything to do with 88e.
We still have money in the bank and oil in the ground. Come April the media will move on to something else to report and all will be good.
This pandemic could bring new blood with bulging pockets who have bailed from other investments and will want to make money. It could bring investors who we may not have had, had the coronavirus not hit the world. Always look on the positive side of life, Could be a big winner for all investors.
Have a good weekend folks
To be fair $23 mill is a big chunk of money for a $760m mcap company, and with a sizable debt, they can't afford to throw more money away on a whim. These guys know what their in for due to data, research and ex BP employee's within their ranks....on the quiet they know....
If it is the case that the coronavirus has caused world stock exodus, then that means there will be plenty of wealthy, stock investors out there with money burning a hole in their pockets and wanting to make some pocket money quickly.....welcome on board the 88e train.....we have plenty of room with a side of black gold...
I think the share price is irrelevant at this present time, however the low SP does take out the excitement of what could be an awesome reward come june....if your in now your in and the good results will reward us all..
Interesting part shaa,
Managing Director Dave Wall has signalled in the past that the sale process for the asset — on success — will start pretty much straight away.
It is important to note that 88E is not aiming to undertake a capital intensive operation in bringing an oil field into production, as it is a nimble explorer that sticks to its strengths.
Some of todays chat has been about if we hit oil on the first few plays. This could go to 2p then the torak 3+p. It's been playing on my mind that if say we hit all 1.6 bbo & its commercialy viable why would the SP fly when we have to return next season to frack.
I can't see investors piling in until the for sale sign is up in 12/24 months time. I'm still heavily invested and have a strategy for the next few months, however my strategy is SP dependant and I'm happy to sit it out for another 2 years if need be, but have no idea why investors would tie their money up for such a long time when they can invest in 2021/22.
This may sound a little derampish and I certainly don't mean it too. Could any of our intelligent investors explain in simple terms why the SP would rise with the issues I have in my mind.
Thanks guys