The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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
MM’s are playing games- disgusting action, I think
Forward plan
The Joint Venture will P&A the Hickory-1 well with any future appraisal and/or development activities at this location being via a long horizontal production well. The rig and associated services are expected to be off-location within the next ten days. It is anticipated that the flow test will be concluded at an estimated cost of circa US$14.5 million gross, due to the additional length of operations.
88 Energy now plans to undertake post-test studies, including fluid testing to characterise reservoir fluids, and downhole pressure and temperature data analysis to determine reservoir properties, at distances beyond the depth of investigation of the wireline logs. These studies will then be integrated into existing data sets and models to refine appraisal and development plans for each reservoir, with pre-FEED studies expected to commence during 2H 2024. Development of these reservoirs is anticipated to be via horizontal production wells, with numerous production analogues elsewhere demonstrating many multiple times the flow rates achieved from vertical wells. Additionally, horizontal developments are common practice on the North Slope of Alaska with Conoco Philips's Alpine and Kuparuk fields both utilising this technique.
Production rates in long horizontal production wells are typically multiples of 6 to 12 times higher than tested in vertical wells, as evidenced in many Lower 48 analogues. Project Phoenix also benefits from the ability to produce from multiple reservoirs concurrently in a development.
Commercialisation options for Project Phoenix are to be advanced in parallel, including farm-out to a strategic development partner and/or early, capital-lite production given proximate infrastructure advantages (Hickory-1 is located right next to the Dalton Highway and TAPS).
In addition, the Company plans to work with independent geological consultants to secure a Contingent Resource estimate over the SMD and SFS reservoirs (complementing the previously announced Contingent Resource estimate over the BFF reservoir; refer 88E ASX release dated 6 November 2023). Completion of these estimates is expected during Q2 2024.
Further updates on the Hickory-1 results and Project Phoenix forward plan will be announced in due course.
Yes indeed and fairly good volume for ASX. I can see a SEA of blue here and have made my last bit of uploading now, going to sit and wait. Why all this bickering on this board by non investors- it’s beyond me. Have a great bickering day. I look forward to making profit in the coming weeks.GLA INVESTORS 👀👀💪🏼😎, we should be flying soon when MM’s have filled their orders✈️✈️😊
Buys & Sells both in RED- anything over 0.315 is a BUY and below this price are sells but of course all in RED as MM’s are trying to balance sells buys to justify keeping it low at this price: FCA needs to look into this AIM MARKET manipulation by the MM’s, who are supposed to be the facilitators of smooth running of market and not taking from the small fish to pass over the SHARKS.I have done a small topping and hope this manipulation stops👀😎😱
JChrist- either you need an Ad- blocker or go on to rejecting all adverts by making a selection- choose “decline” or manage preferences. That is of course if you’re paying for LiVE trades. Try these methods and see if it works. LSE’s adverts company is very persistent, as a level 2 premium member I had to make several complaints before I could get rid of adverts. 🤞🏼
RB- if you have sold out from PANR, then it’s too early as the broker price for it is 0.85p.
I hold both and haven’t sold any . 88e has a long way to go yet, it’s only the beginning- PANR was only 0.29 p last week, if 88e does what PANR did after the RNS then you know what🚀🚀👀👀watch and keep on de- ramping , it’s only one it’s going✈️✈️✈️GLA 88e and PANR HOLDERS😎🥸😊🚀🚀🚀
Indeed- I have been offered over 0.3310 to sell , where as bid price is 0.32 since this morning, a big order is being filled could be the reason- pure manipulation from mm’s. Taking shares from small retail holders to give to the sharks. I am holding, actually have been topping up when it’s manipulated.
Brombarb
Hickory-1 Upper SFS Zone Flows Light Oil
2 Apr 2024 07:00
RNS Number : 8990I
88 Energy Limited
02 April 2024
This announcement contains inside information
2 April 2024
88 Energy Limited
HICKORY-1 UPPER SFS ZONE FLOWS LIGHT OIL
Highlights
· Flow testing of the Upper SFS (USFS) reservoir confirms light oil discovery at Hickory-1.
· USFS flow rates achieved from low volume frac over small 20ft vertical interval are in line with expectations and results observed from other reservoirs on adjacent acreage.
· USFS test produced at a peak gauge flow rate of over 70 barrels of oil per day (bopd) of light oil. Multiple oil samples recovered, measuring ~40-degree API oil gravity.
· Quality and deliverability of the USFS reservoir now confirmed via oil production to surface under natural flow, with flow back fluids including unquantified volume of marketable natural gas liquids (NGLs) and associated gas, consistent with tests on adjacent acreage.
· 88 Energy will now seek an Independent Contingent Resource declaration for both the Upper SFS and Lower SFS reservoirs based on the flow of hydrocarbons to surface.
· Flow testing operations will transition to testing the shallower SMD-B reservoir over the next few days, in-line with the multi-reservoir, staged flow test approach adopted for Hickory-1.
88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce successful flow testing of the Upper SFS reservoir in the Company's Hickory-1 discovery well, located in Project Phoenix on the North Slope of Alaska (88 Energy ~75% WI owner).
Managing Director, Ashley Gilbert, commented:
"Outcomes from this test represent a significant milestone for 88 Energy and its shareholders, with the first successful flow of oil to surface achieved at the Company's Alaska projects.
The completion of flow testing in this zone and recovery to surface of light oil, in addition to NGLs and associated gas, confirms our understanding of the substantial potential of these reservoirs. Significantly, these flow rates were achieved from only a 20ft perforated section in a vertical well with a low volume stimulation over a short period. As previously highlighted, production rates in long horizontal production wells are typically multiples of 6 to 12 times higher than tested in vertical wells, as evidenced in many Lower 48 analogues.
Importantly, the Upper SFS zone had not previously been intersected or tested at either Project Phoenix or on adjacent acreage. It is particularly exciting for us to produce oil to surface and demonstrate the producibility of this additionally discovered reservoir. Future plans for the assessment of the commerciality of Project Phoenix will be communicated post analysis of the Hickory-1 program.
We will now proceed to undertake flow testing of the shallower SMD-B reservoir over the coming weeks. This is a zone which has previously been successf
It’s true of any aim stock , they are high risk and sometimes high reward and we can lose or win on any. However on this time around as we are sure that there’s oil down there, it’s a risk worth the punt: no risk - no gains but invest only what one can afford to lose, don’t put your bread and butter money into any stock, that’s what I have learnt over the years of trading. GLA HOLDERS- looking forward to next week and beyond , take chill pill and enjoy the weekend 😎🚀🚀🚀
Tommy- T, I am sure you have no reason to lie. Dummy sell price is 0.3433, whereas MM’s are sitting on 0.33 p bid, wanting our shares on the cheap. I have been topping up this morning on a bargain price. Looking forward to next news and GLA all especially to de- rampers, who woul be clapping there hands with tears for trying to scare people. 👀👀👀🚀🚀🚀👀✈️✈️✈️✈️
It’s SCAP that’s holding us down since this morning, need a massive bulldozer to move him up or down, just being a nuisance since this morning. We need some Aim market regulation to stop this manipulation! It should tick ✔️ up as soon as it moves. GLA
There’s one MM, stuck on this price , until there are more sells or the next one moves in —-+so you know what I am trying to say HODELLLLLLL. Don’t throw your golden tickets 🎫 at this price. I amazed that pi’s are selling at this price- Holddd😎💊🚀🚀