Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
WAaussie,
I would love to come on one of your camping trips, smoke a cigar and swoff a beer or 2 round the campfire. If 88 comes good I'll take a trip to Oz with the wife and make it happen. Your humour amuses me no end.
Brom,
There are all calibre of posters on here those who don't know too much about shares or gas and oil but are learning all the time, those who are knowledgable and those who are just pests that stalk BB, however like to be part of this BB because they enjoy interacting with like minded folk. You just have to be patient with all.
I am learning all the time and sometimes get a little excited and carried away in the moment and want to join in the excitement on here before reading and 're reading published info. I also read the RNS and it doesn't digest straight away so read the comments on here by the likes of keefy, moneyhawk, v, chartman, yourself and many more great posters to piece it all together.
All the very best folks we got this.
Afternoon keefy,
Please seen my post from friday 20.50 I'm aware they can reach 7 targets from 1 well which is awesome. Maybe I didn't write my post so well apologies for that.
However It would be nice to attack more than 1 drill this winter is what I was getting at ie maybe 2 JV's on 2 locations for 2020 I was just thinking out loud
All the best
Stockdale I feel your frustration too, however had you sold and winx was successful your post would be saying I wish I hadn't pressed the sell button it is a massive gamble and unfortunately it didn't pay off. However were all still here and still in with a chance to either make our money back or make a profit.
I'm not sure how many shareholders Premier oil have but potentially we have just put ourselves on the map and introduced an extra few more thousand shareholders who may not of heard of 88 energy as most of us hadn't heard of Premier oil.
In 7 months time (March 2020 ) we may be in a different place all together I've read a few bits on Prem oil and I'm very happy with Dave's choice of JV partner. No cash upfront is a bit of a ball ache as it's going to be another 1 drill a winter again for 2020 unless there is other things to materialise in the coming months with Yukon etc. It would be nice to have a couple of drills going at the same time to help boost the SP this winter but only tome will tell.
All the very best folks and enjoy the sunny BH
V111JAS, this BB is a very interesting place at times I love reading posts by yourself and our other educated posters. At the end of the day as Brom says don't trust everything you read on here. However when our informed posters write published facts they are the posts I trust and my own research. I came into this fully expecting a big return within a year. Nieve as it is my 1st go at any share, more research has led me to be more patient and set it as a 5/7 year plan I'm at 3 now so all looking good for around 5 yrs.
All the best.
Just read the report from "next oil rush" email, wish big Dave could write RNS like that, gets the juices flowing and certainly a good read for a newbie.
The more reports I read the more you realise that Dave and co look to have played an absolute blinder with this deal. Also the fact that Premier isn't really a tier 1 major has played in our favour, we have retained a decent WI on the leases and any future deals we have with our new partner. Premier oil have rubbed shoulders with some big oilers over the years and have a fantastic strike rate. Plus given that 7 targets will be tested with one well alone, it means 88E has avoided having to do a multi-well farm-out deal with a major, which would have been a costly and dilutive exercise.
Well played Dave and co and thank you.
DW's transformational year has been interpreted in money terms by myself and others. The transformation is meant in terms of acreage farmout, 3D work etc and setting 2020 up for a good year of extracting oil and making money for 88e and it's shareholders.
Just wondering if anyone knows if we were to later sell out to premier would our shares be worth the same as theirs I.e 70p or would they be bought at a lot lower %? Would be interesting if any of our knowledable peeps know how a buy out works.
Cheers gang.
Brom
They JV'D with shell in 98 for 3 yrs in Pakistan have a $531 million operating income and a net income of $133 million defo no slouches in the oil game. They have licences in 9 different countries and there UK based.
Sounds like a good plan to me
A deal is a deal of which I'm happy they got one, it's hopefully the start of a beautiful friendship. Just a bit baffled why it took so long to execute for what seems a straight forward deal but what do I know.
The market are never happy with 88e RNS as proven over the years and until we show some oil it will remain that way. I'm sure most of the long term holders can sit it out another 6 months which will bring us into the 1st quarter of 2020.
Are Premier oil a tier one oiler?? I have no idea but they have a proven track record and a 70p a share SP so they must know what there doing.
All the best gang.
re cap on last RNS
88 Energy Limited
06 August 2019
6 August 2019
88 Energy Limited
Project Icewine Conventional Farmout Update
88 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") provides the following update related to the farmout process for its conventional prospect portfolio at Project Icewine, located on the Central North Slope, Alaska.
Highlights
· Exclusivity agreement executed by 88 Energy and Burgundy Xploration, LLC (together, the "JV Parties") with preferred bidder to facilitate near term operational activity whilst final terms are agreed on the proposed farmout agreement:
o Exclusivity granted by the JV Parties until 31 August 2019, with customary exclusivity undertakings;
o US$500,000 payment (the "Exclusivity Fee") by the preferred bidder to the JV Parties to facilitate incurring of initial agreed costs associated with the 2020 drilling program;
o Exclusivity Fee non-refundable unless the farmout agreement is not finalised owing to an act or omission of the JV Parties.
Media and Investor Relations:
88 Energy Ltd
Dave Wall, Managing Director Tel: +61 8 9485 0990
Email: admin@88energy.com
Either way Brom I believe theres more to a deal than signing a piece of paper of T & C, when I buy a property it's not a case of walking into an estate agents or even an auction house and handing cash over and walking away with a set of keys. No matter how hard I push it feels like forever to get the deal done.
So long as we put a drill in the ground this season I'm ok with the wait.
All the very Best to all
Just maybe the deal is done already, I know aim are strick on disclosure however maybe our FO partner isn't an aim company and their policy supersedes aim??? I know they would want to let their shareholders know but they may not have a dire shareprice.
Just a thought as we don't know what's going on behind the scenes. Imagine telling us the deal is done and it's bla bla bla and these are the deal terms. Then they tell us sorry guys there no rigs to drill this year or there's no rigger teams etc etc . It would make them look foolish.
What I'm saying is it's not just about the deal it's everything after that's just as important to be put in place too.
Your right spike, my house is worth 250k getting that price is a different thing. Same as the 3D it shows it's good but getting it to the surface is something else.
I think and dream illogical numbers all the time and refresh the SP and it's still no where near where I want it to be.
By the way is that 2p on the announcement?