Member Info for SRBS

To get this moving properly- Ashley Gilbert needs to do some interviews: where’s the PR TEAM 88E- get one soon if you haven’t got one.It’s worth spending a penny to farm out or for JV. I hope someone from 88E TEAM READS THIS MESSAGE. I look forward to a decent interview- hopefully 🤞🏼

Today 07:00

RNS Number : 3061L

88 Energy Limited

19 April 2024

19 April 2024

88 Energy Limited

FURTHER INFORMATION ON HICKORY-1 FLOW TEST RESULTS

ANNOUNCED 2 AND 15 APRIL 2024

Highlights

· Dual success at Hickory-1 with the flowing of light oil from the USFS and SMD reservoirs.

· Post flow test studies to commence including the securing of additional Contingent Resource estimates.

· Commercialisation options to be considered in parallel, including farm-out to a strategic development partner and/or early and a capital-lite development.

😊 It appears that Ashley has read my comments on this board as “ the RNS was poorly worded, should have been in points and clear and not as a narrative “. The revised RNS is just how I said it should be “ in pinpoints, concise and clear. Well Done Ashley. Let’s see how the market takes it. GLA all holders.

On the other hand only one MM stuck on 0.22 since this morning - on and off, may be no stock left at the current price: a wishful 😱

No problem with Ii investor, all is well😊

Me as well. It’s a very tight spread, sell 0.2212v buy 0.2253+. Tick up should be coming soon at this rate, after it’s moving in the right direction. Snorters should burrrrn!

Sorry, gone back down as I wrote , back to where we were earlier.

Finally it’s behaving and can’t believe it has ticked up. I think it’s the wording in the last RNS of “ spent 14 million more” , unfortunately brought the price down , which has been removed from today’s RNS and the current financial situation is healthy according to today’s RNS. It should move up as it should have done few days ago, I think. What an RNS WORDING CAN DO TO OUR 💰?,,,! Ask at 0.23p now.

Not just Hickory 1: more news to come in near future other than Hickory- 1, 17.5 million cash- seems good:

Namibia PEL 93 (20% WI)

· Transfer of 20% working interest in Petroleum Exploration Licence 93 (PEL 93) complete, being the first stage of a three-stage farm-in agreement following approval by the Namibian Ministry of Mines and Energy.

· PEL 93 includes an extensive lead portfolio with ten significant independent structural closures identified from a range of geophysical and geochemical techniques and potential for more leads to be identified as dataset is expanded.

· Seismic acquisition is planned for mid-2024 with potential initial exploration well targeting the Damara play as early as H2 CY2025.

Project Leonis (100% WI)

· Maiden prospective resource estimate for Upper Schrader Bluff (USB) reservoir expected H1 2024.

· Farm-out process commenced with multiple parties engaged and reviewing data room materials, ahead of potential drilling of a new well in 2025/2026.

Project Longhorn (~64% WI)

· Two of the planned five workovers scheduled to be in completed in 1H 2024 are underway and are currently projected to be delivered under budget.

· Q1 2024 production steadily averaged 328 BOE per day gross (~62% oil).

· Company received cash flow distribution of A$0.7M in March 2024.

· The Company also reduced it's working interest in 9 leases during the quarter by an average of a ~7% reduction in net WI's across these leases. Consideration for these leases totalled A$0.3M.

Corporate

· Cash balance of A$17.5 million and no debt (as at 31 March 2024), ~20% of Hickory-1 flow test payments have been made, with the remainder expected to be paid in Q2 2024.

· Net cash outflows in relation to operating expenses for Q1 2024 totalling A$0.77M as compared to A$1.44M in Q4 2023.

· Cost reduction initiatives commenced in the quarter targeting a reduction in salary and overhead costs. Further business optimisation activities underway, aimed at preserving and enhancing value for shareholders and advancement of key projects

Yes indeed it is they still have 17 million in hand a successful exploration result, full assessment of what’s down there due in a few months , upcoming AGM in May 2024. Possibly the placement has already been done. A lot to look forward, this price is too low for what 88e has got , it’s a Steele and bound to go up before the AGM and before the full assessment of resources. Buy or sell is ones own choice keep on battering the choice is for those who hold no shares in the company. I’m still HOLDING AND ADDED MORE . Good luck holders, we need it🤞🏼

Someone paid over the ask followed by a decent trade over £49k . Someone is happy to cough out this sum, whilst bickering carries on as usual, no need to go to theatre😇👀

Don’t you know: It’s a corrupt AIM MARKET, If they had any hint of a placement or no oil , we would have doubled just before the RNS, that’s life, get use to it or just stop trading😇😅😅😇👀🥸😿

Tobethebest: 😅😅😅It’s a very tight spread, might need bigger size shorts. By the way LSE is showing ‘No Shorts”, so M& S is really the best place 😅😇😎

I think that the last RNS is very poorly worded. Ashley Gilbert needs to develop Good RNS writing skills. There was no need to add extra additives in this RNS, giving unnecessary details. The RNS could have been ended with careful wording with contingent assessment in a few months to make full assessment of oil and gas and the information given in points rather than as a Narrative. Best and the most effective way of writing is to slot the information in points and not blabber.

Good luck holders, may it work for us in the future 🤞🏼

Commented:

"Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy. The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan Pipeline System infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders.

The flowing of light oil from multiple reservoirs demonstrates the potential that this acreage holds for our shareholders, positioning the Company to grow and extract value from Project Phoenix via multiple potential development and commercialisation pathways. These include farm-out to a strategic partner in pursuit of a carry towards a development proposition and/or accelerated, capital-lite production given the highly development-friendly location of Hickory-1 within the North Slope. Development of these reservoirs is anticipated to be via long horizontal production wells, with numerous production analogues elsewhere demonstrating many multiple times the flow rates achieved from vertical wells.

Detailed evaluation of these development options, and pursuit of the optimal pathway, is the process that we are now set to undertake over the coming months. This work will be undertaken alongside the assessment of independent Contingent Resource declarations for the SFS and SMD reservoirs at Hickory-1, which will be additive to the BFF Contingent Resource previously declared. It is a busy and exciting time ahead for 88 Energy."

T 10:51:00

“Hickory-1 Flow Test – Second Light Oil Discovery

15 Apr 2024 07:00

RNS Number : 5907K

88 Energy Limited

15 April 2024

This announcement contains inside information

15 April 2024

88 Energy Limited

HICKORY-1 FLOW TEST - SECOND LIGHT OIL DISCOVERY

Highlights

· Dual reservoir success at Hickory-1 with second light oil discovery at the SMD-B reservoir.

· Peak flow rate of ~50 barrels of oil per day (bopd) of light oil (measuring approx. 39-degree API oil gravity, under nitrogen lift).

· The SMD-B reservoir showed little to no measurable associated gas flow (low Gas-oil-Ratio (GoR), which validates the pre-test analysis.

· Hickory-1 has now delivered two successful oil flows and three independent discoveries:

- SMD-B (today's result): with a peak flow rate of ~50 bopd of light oil (measuring approx. 39-degree API oil gravity, under nitrogen lift).

- Upper SFS (USFS) (previously announced on 2 April 2024): with a peak flow rate of over 70 bopd of light oil (measuring approx. 40-degree API oil gravity, under natural flow).

- Both flow rates result from low volume stimulations over small 20ft perforated intervals in vertical well.

- Previously announced Basin Floor Fan (BFF) Gross Best Estimate (2C) Contingent Resource of 250 Million Barrels of Oil Equivalent (MMBOE) (refer 88E ASX release dated 6 November 2023)

· Quality and deliverability of both SMD-B and USFS demonstrated via oil production to surface with the USFS reservoir producing under natural flow - positively differentiating Hickory-1 from results on adjacent acreage.

· It is anticipated that these reservoirs will be developed from long horizontal production wells which typically produce at multiples of between 6 to 12 times higher than vertical wells. Project Phoenix also benefits from the ability to produce concurrently from multiple reservoirs in a single development scenario.

· Well testing results from the current field season confirm long-held views of the producibility of multiple reservoirs at Project Pheonix.

· As such, the Hickory-1 flow test results can be rightly characterised as in-line with those observed from equivalent reservoirs on adjacent acreage. Importantly, the performance of the USFS reservoir exceeded expectations, with the well flowing naturally with increasing oil cut.

· The results from the Hickory-1 flow tests permits an independent Contingent Resource assessment for both the SFS and SMD reservoirs; expected to be complete during 2H 2024”.

It’s the De- Ramping team’s AGENDA

Over 205 million shares have been purchased at this price and we will eventually find out the total amount of Oil & Gas that’s down there so why don’t we just sit it out and wait. I hope that all this dropping the price is to let 50 k trades in which happened earlier. If any one remembers “SOLO” back in 2013-2017: similar thing happened then ON A GOOD NEWS THE PRICE WENT DOWN! It’s AIM market - legal theiving is allowed here, called HIGH RISK and sometimes HIGH REWARD. We should be use to this downplay by the MM’s, they control the market- take it or leave it. Have a good day . I’m looking forward to hearing from the company in the near future and sitting tight!

Over 262+ million have been bought since this morning, I think it’s a pure manipulation to let big trades get in , it’s a steal at this price . I am still holding tight and waiting whilst market fills the orders and see what happens next!

News

IN BRIEF: 88 Energy hails second light oil discovery at Hickory-1

Mon, 15th Apr 2024 11:36Alliance News

88 Energy Ltd - Alaska-focused oil exploration company - Makes second light oil discovery at Hickory-1 reservoir in Phoenix project, Alaska. Says flow test demonstrates a peak flow rate of 50 barrels of oil per day of light oil. Managing Director Ashley Gilbert says: "Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy. The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan pipeline system infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders."

Current stock price: 0.25 pence, down 21%

12-month change: down 42%

By Sabrina Penty, Alliance News reporter

MM?

Acquisition of Texas Oil & Gas Production Assets

15 Dec 2023 07:00

RNS Number : 8904W

88 Energy Limited

15 December 2023

This announcement contains inside information

15 December 2023

88 Energy Limited

Acquisition of Additional Texas Oil and Gas Production Assets

Highlights

· Expanded footprint in Texas Permian Basin with acquisition of further non-operated working interest in leases and wells with conventional onshore production and development opportunities.

· ~64.4% net working interest (WI) acquired by 88 Energy in 1,262 net acres, located ½ mile south and ¼ mile north of existing Project Longhorn assets (Longhorn) connecting the acreage position.

· Joint Venture partner and Operator, Lonestar I, LLC (Operator or Lonestar), also acquired a ~21.5% WI in the new assets with remaining WI retained by existing non-operated partners.

· Purchase price of US$0.35M (net to 88 Energy: US$0.26M) paid in cash by the Joint Venture, Bighorn Energy LLC (Bighorn) which comprises of Longhorn Energy Investments LLC (LEI) a 100% wholly owned subsidiary of 88 Energy (75% ownership) and Lonestar (25% ownership).

· Attractive low-cost entry of ~US$0.33 per BOE based on the independently certified net 2P reserves position of 0.68 MMBOE1,2.

· Nine (9) low-producing existing wells (~26 BOE/day gross) and 10 development opportunities with potential identified in multiple zones and classified as Gross Undeveloped 2P Reserves (1.2 MMBOE1,2), along with Contingent and Prospective Resources which are yet to be quantified.

· Coupled with the additional acreage announced in July 2023, Bighorn has reviewed its development opportunities and will now target lower-cost workovers ahead of new drills. Bighorn has approved 5 workovers to be completed in 1H 2024 and upon successful execution are expected to increase production to 180 - 220 BOE gross per day (~75% oil).

· Once the workovers are completed, Bighorn will consider for approval the 2 new production wells, as previously announced, in 2H 2024, which are expected to increase production by an additional 160-200 BOE gross per day (~75% oil).

· Upon successful completion of the workovers and new wells across its acreage, together with the existing producing wells, 88 Energy expects Longhorn total gross production to reach approximately 600 - 675 BOE per day (~75% oil) by year end 2024.

· The new acreage contains 2 injection wells that will be assessed for restoration so that Bighorn has optionality for water disposal, particularly as production increases when new wells come online.

· Bighorn recently secured a US$5 million line of credit facility to assist in cash flow management associated with the development opportunities.

1 Refer to page 3 for initial reserves estimates and assumptions.

2 Net Revenue Entitlement to 88 Energy.

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce the