Member Info for spike912

Wolverine been “vague” lol I don’t think he could have worded it worse if he tried, unless he likes wiping 30% plus of the company in minutes It was poorly worded from a poo bod imo It could have been turned into a lot bette RNS with a simple bit of clarity on drill bit position

Jon, many also seem to keep failing to post the pertinent remainder of that RNS “Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation” So it’s not simply about commercially viable, it’s also about the QUALITY Low quality, and low end commerciality hence why, imo, you won’t be producing from that area alone

Why would they comment? What did you expect them to say? There is nothing to say, it is what it is

Maestro I don’t think they can, the announcement was fairly clear , they don’t appear to be suspending until TD, imo that would require another RNS, today’s halt was specifically for 88E announcement but I do think we will get news early next week GL

ASX too late in the day after today!

It will be opened for trading on opening of AEX I would imagine

Faze. You need to read the announcement, it’s pending 88E releasing, which they have done. Simple The “announcement to the market” has happened

Trading halt is over The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 5 March 2019 or when the announcement is released to the market"

Thanks brombard I think you could be correct reading that. Either way will be an interesting few days ahead!

I would imagine if Oz is suspended until Tuesday we will have something Monday or Tuesday opening ready for AEX to open

Problem is as some traders bail, it’s going to be traders paradise so either way we can’t win lol

JofHpggot you may well be right. I hold in RMP, only small position as the upside was looking better than 88E (but obviously also the downside!). Did have funds to top up and take a little more of a punt today, but added here rather than RMP so I’m a little leveraged now, but only if we can recover My fear with the likes of RMP is they are a one trick pony with this drill, but at least 88E do have a few other potential options going forward Who knows, we may pull a rabbit out of the hat next week. Can’t be long before we are into the lower zones GLA and try enjoy the weekend

I personally still can’t get my head around today’s RNS. In reality they didn’t need to issue anything, I would have expected them to continue drilling into other zones then report once as the drill completes as they don’t know what’s in the lower layers All they have done is crashed this share, locked it the Aus investors and crashed RMP I would find it very embarrassing to now issue positive news and would be seriously thinking the FCA should be looking into it. Imo today’s RNS was not needed it achieved nothing bar chaos Hopefully things will turn but given where we are I would find if VERY surprising to get anywhere near to our initial hopes GL and have a good weekend all (as best as can!)

So why not wait and RNS the whole drill, rather than this part only and take 50% off the mcap. Makes no sense to me. Unless it’s positive there was no need to issue today’s RNS imo

And what is the cost to extract and sell vs income from low end oil. About zilch

Right let’s set this straight as too many are playing on words Preliminary review of the interval by the operator suggests that the zone in which the shows were encountered is at the LOWER END of the range required for commerciality; however, further petrophysical analysis is necessary Now, the risk, now listen carefully.... IF we find no more oil, and IF what we do find is still LOWER end of commerciality this will NOT be produced. There is NOT one oil company EVER that has taken LOW quality oil into production alone. EVER. It’s pointless to outlay such Capital costs, more drilling, storage, transportation, tax implications, find a buyer vs price per bodp, AND it wouldn’t even be down to RMP as a minority holder in this well Now I am happy for people to evidence that I am wrong but I won’t hold my breath Zones so far are as good as duster Too many people playing on words.

The two man pumping band with more air than a bouncy castle No doubt in this morning ramping the price, no research, no knowledge, quick trade Newbies BEWARE

Degsy shows mean nothing! What is the point of low quality water filled shows? Jesus No disrespect to some on here but I think oil investing isn’t their game. It’s painful to see people’s niavity and lack of knowledge on today’s RNS If your holding, hold. If your buying I would be switching to 88E personally as they have other drilling options, RMP is now a huge risk reliant on this drill only: what next if we find nothing. I will continue to hold my small position here based upon no point in selling as 1.50p might as well let it ride

@renroc Id give up, I have lol. It’s a waste of time trying to explain to some. Your better off saving your finger workout typing on here ;) and if the RNS comes that nothing found at lower intervals, we will see who has the experience and is proven right Totally agree, no way would anyone produce what we have (or don’t) alone

Drilling c 4500ft degsy. Where are you getting 6000ft?