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lets look at the FACTS.
88 Energy is pleased to report that the mobilisation of Rig 111 to the Merlin-1 location is progressing well, with only minor delays due to weather. The spud date is now scheduled for 8th March. (This commenced on the 10th!!!! see operations update)
The Merlin-1 well will initially be drilled to 1,500', then surface casing will be installed and the Blow Out Preventer system tested. This is expected take approximately one week to execute. (so 17th-18th at best)
The well will then be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000'. Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation, which is expected take three to five days. A sophisticated wireline logging suite will then be run, including sidewall cores and downhole sampling. Wireline logging is expected to take five to seven days.(so total depth on 22nd-24th at best)
*pressed send by accident* IW2 may be just off the bow but if Charlie hits the stern we have an educated guess at the next missile (drill) if you get my drift :)
wouldn't hurt to find out what's on the west Bridgedogg1 that way we can make assumptions/data analysis of HRZ across the whole play as most is not yet been 3D'd....why not if we don't have to give anything more away and they're not interested in HRZ. Plus we are operating the drill. Imagine it like a game of battleships, IW2
0.025 of a penny every day ...you go steady pal haha
Bits, when you gonna realise the sp aint gonna move much between now and the drill in feb, why would it? we're just farmers with a big wack off drill bit in our hands and some fancy seismic gear. The potential is what the share is about, as of yet it isn't proven so sp is irrelevant to me at the min. Marathon not a sprint mate.
Honestly LTI I keep seeing posts like this that we could go bust in the meantime etc but I just can't see why from a business pov and financially, a company like premier would invest/risk, or even gamble as you put it, in a company that could go bust before they have a chance to do what they've invested in. I'm sure they would have looked at our numbers as much as theirs to ensure we're financially stable enough to see the drill results through? Surely? I'm no good with business sense or numbers but it would be one of the first things I'd want to look at
doubt he'll say much before the RNS in september as a lot of questions may be answered in that but worth a shot eh?
is the objective still to prove up and sell as the timeline is constantly being stretched out? investments made due to proving up and selling not producing, is this still the case?
why is FOMO not happening? the board doesn't sign off nothing surely haha
£1 party gonna be brutal ...I'll walk in shouting "who was the hardest 'till i got here" then expect a right hook from WAussie while he runs his ute through the wall, DW's beard in hand, can't wait!
That's what I did mate I just saved it to home screen from my mobile browser you still get the thread view then too
agreed LeMajor i feel they wouldn't have set themselves up for a fall by saying a predicted date when they wouldn't have a clue off the legal teams etc... think when buying a house the solicitors give you a "closure date" hopefully this is a similar idea and June was the estimation from the legal squad. still....all opinions at the end of the day eh? long haul for me so it will be a mere pothole in the long drive for me :) hopefully it doesn't knock the wheels off! GLA
I'm swayed more to the later money! Hope so anyway
agreed silvertrader, short term time line considering though. I'm thinking proven and sold SP i.e buyout from a major if it ever comes to that just thought it would be interesting to find out. Islandgirl care to elaborate on your view? be nice to hear an alternative projection also :) like i said only putting it out there as a discussion point we all have our hopes and dreams of close shaving that beard clean off and MM dipping his toes in the hot tub.
so....please excuse my ignorance if i have 1.missed any opinions previously or 2.not a welcomed opinion post.
Just wondered why i've never seen any of peoples calculations of what they think the company could be worth if things go our way, or not also. so that said i thought i'd do my own but as a newbie and my first ever share you'll have to tell me to shut up or don't be ridiculous if i'm way out just looking for opinions/advice on how to calculate more accurately for future reference.
Starting with a conservative estimate and a conservative $3 pb net to 88e would this be an accurate SP from say....only 1.5bn barrels from conventional? obviously I'm not familiar with running costs, what we'd have to give away etc.. but this is with 70% given away from $60 pb and $40 pb extraction cost then halved to take into account other costs. Fly in with your opinions or estimates you've done yourself i'm intrigued. Cheers all GL
P.S. just a bit of fun don't nail me to a cross for asking :)
so...
ignoring all other aspects 1.5 bn barrels alone from conventional i get roughly this:
1,500,000,000 x $3 = $4,500,000,000
$4,500,000,000 / shares in issue (6,331,540,324) = $0.71 / £0.56p
so would 56p be accurate with just 1.5 bn from conventional alone or am i being tremendously over enthusiastic? seems astronomical if you take into account what else we have as a prospect to add (obviously it's a BIG IF i know)
cheers WAaussie you too mate, i was supposed to move to Wollongong when i was younger which fell through so sentenced to a lifetime of crappy weather and dysfunctional governments ;) ...so hopefully this will be redemption and i can go visit the place i was supposed to live where some of my family reside, some in Perth also. here's to hoping can't be long now. Keep the faith GLA
Haha brilliant! Certainly hope so pal GL
Thanks Keefy you too! although a bit of news to settle the nerves would be nice although my mere morsel of a holding means I'm in it for the long haul so God knows how some of you guys and gals hold your nerve with maybe 1m+. Regards
Hi all,
First post for me, been watching from the sidelines for a while after Dogstain showed me the light and i sold my soul to DW's beard, interesting video on shale from 2017 to pass the time while we wait for news (sorry if someone has ever posted it before).
GLA
https://www.youtube.com/watch?v=-IzgyM1r1y8