Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
What raise? The AGM is on 13 May, the results are due from next week onwards. If the results are good or excellent then plenty of time before the AGM to get out of it, no need to stick around until May 2024- strong buy in my opinion especially at this price🚀🚀🚀
I have added a few more, looking forward to next week or end of April.
The company has let the cat out by mentioning the INSERTION. ONE NEEDS SOMETHING TO HAVE JOINT PARTNERSHIP, that’s the clue, sell or buy more is one’s choice😊
Re- Insertion of proportion takeover provision: It’s a very good proposal ie the company is looking forward to times , if and when the need arises to have a partner, possibly after good flow results , in order to develop further, they will need a JV. Why panic selling, this is what the MM’s want, why not wait until the full flow tests and that might be just at the end of April. It’s my opinion , sell or hold is individual choice. GLA until next week or beyond.
For Doubters / de- rampers, who are trying scaremongering at its best
Hickory-1 Well To Proceed to Flow Testing
11 Apr 2023 07:00
RNS Number : 7199V
88 Energy Limited
11 April 2023
This announcement contains inside information
11 April 2023
88 Energy Limited
Hickory-1 Well To Proceed to Flow Testing
Highlights
· Wireline programme successfully completed on the Hickory-1 well.
o Initial petrophysical interpretation confirmed presence of multiple hydrocarbon bearing pay zones across all pre-drill targets, in addition to the new Upper SFS reservoir identified.
o Estimated net pay calculated from wireline data of approximately 450 feet over all pay zones (gross pay estimated to be over 2,000 feet).
o Average total porosity across all zones of 9-12%, including key zones identified for potential testing in the Upper and Lower SFS with between 11-16% total porosity.
o Pre-drill expectations met or exceeded on reservoir quality (higher than expected porosity in SFS and BFF) and thickness (higher total gross reservoir, total net reservoir and total net pay).
· Post-well analysis of cores and wireline data now set to commence, including assessment and classification of resources across all reservoirs including maiden resource estimates for the Upper SFS reservoir.
· Multiple zones in Hickory-1 planned to be to flow tested, all of which possess similar reservoir characteristics to wells that have flowed on adjacent acreage.
· Hickory-1 to be cased and suspended in preparation for carrying out flow test programme as early as possible in the 2023/2024 winter operational season; preliminary planning has already commenced including identification of suitable rigs to undertake the work.
“1. 88 Energy net resources have been calculated using a 75.227% working interest and a 16.5% royalty.
2. The unrisked means, which have been arithmetically summed, are not representative of expected total from the prospects and implies a success case in all reservoir intervals. 88 Energy cautions that the arithmetically summed 1U estimate may be a conservative estimate and the arithmetically summed 3U estimate may be optimistic when compared to a statistical aggregation of probability distributions.
3. COS represents the geological chance of success as assessed by 88 Energy and reviewed and endorsed by LKA.
4. Prospects are subject to a phase risk (oil vs gas). Chance of oil has been assessed as 100% for all targets except for the Kuparuk Formation which has been assessed as 70%. Phase risk has not been applied to the unrisked numbers.
5. The Prospective Resources have not been adjusted for the chance of development. Quantifying the chance of development (COD) requires consideration of both economic and other contingencies, such as legal, regulatory, market access, political, social license, internal and external approvals and commitment to project finance and development timing. As many of these factors are outside the knowledge of LKA they must be used with caution.
6. Prospective Resource Estimates - determined pre-drilling of Hickory-1.
7. Updated Prospective Resource Estimates reflect the removal of the resource estimate for the Basin Floor Fan which as of 1 November 2023 has been redetermined and classified as a Contingent Resource. No other changes have been made to the original estimates, please refer to the ASX announcement of 23 August 2023.”
It clearly states that “ when the flow back is completed “,
So something must be flowing back, for them to test. It would have been nice to see the word OIL, but the company has mentioned estimated Oil , in the previous RNS, surely they are not going to measure DATA with water flowing. Anyhow it’s my opinion. Pi’s still have an opportunity to get out at this price if anyone thinks there’s no oil down there or wait for the final results: good or bad🤞🏼
samples.
· The flow testing programme for the shallower SMD-B reservoir is scheduled to begin immediately after the flow back of the Upper SFS reservoir is complete and is expected to last around 14 days. As with the USFS test, the length of the program may be adjusted depending on operational conditions.
· The program remains fully funded, with only marginal increases in duration and forecast costs within budgeted contingency.
· Completion of operations and demobilisation from site is now expected around mid-April.
Alan’s 55- aah, I sold mine between 4.50 to 4.80(£) and was so pleased with the gains . However I did the same thing with”Solo”, sold it too early and price went up to 300%.;anyhow I am going to hold these until the result as they have actually got the oil down there. We are just waiting to see if it’s commercial and I am more experienced with the MM’s games now🚀🚀👀🤞🏼
Zeppo: sincerely hoping that this one works for all if nothing else - it does HE1 type of rise. Looking forward to next few weeks 😊. Once MM’s have filled their orders it might go up this evening, maybe just before closing!
Zeppo- I do remember “ROCKHOPPER “, but only the good part , when so started to Ricket fro 15 p to £ 5.15, it was moving like a clock , price going up every second, had a bit of fun, luckily got out at just under £5.00 before it started to go in the reverse gear, many got 🥵 and there’s no going back up now.
Those were the days😊. I hope 88e at least does 200% if we have a good result. MM’s are very cautious now since last year, the sp used to go up to 4 p easily before the RNS. I think all London exchange stocks are very boring now, no excitement left.Let’s hope it works this time around and I agree with you that if it’s a good result- MM’s are more than likely to play more games just before the RNS is released. I am HOLDING, whichever way it goes. GLA investors🤞🏼
The accountant- MM’s have been dropping the price for a few seconds and then going back up soon after the trade is filled throughout this afternoon. I seemed to have clicked just in the nick of time to see it with my own eyes, didn’t want say anything on the board as Level user we are not supposed to decrare the live trades , so it’s definitely a buy and a few more after this - the price has been brought down several times to fill these trades, leaky, leaky>>>>!MM’s would do anything to keep the lid on and favour the big trades , price usually jum for a small trade! The big fish will always want to eat the small one. Looking forward to next few days now.HODLE IF YOU HAVE NERVES OF STEAL.
GLA💪🏼😱🥸🚜💊
If we carefully listen to the last sentence it clearly states “ look forward to providing results in next few weeks”, Not Days or Months. So it’s possibly not coming this week, could come next week or week after! We have waited so long what are a few weeks more, just need to be patient and as we know it can go either way but looking forward to a fantastic result this time around soooooooWAIT>>>>🥇for a penny or a £ ?GLA