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It's hard to tell I agree but if the raise is at a discount then I would think it's likely to drop to that price. I can't see that there will be anything substantial to uplift the sp in the interim. If there is, it will be be heavily sold into as many are sitting on losses.
"Surely it can't be much longer". Sorry Gordon that made me laugh. How many times have we been here before... Syn and normal people seem to be working in two parallel universes when it comes to the concept of time!
If there was anything better to say, they would have put it in the RNS. It's disappointing but not unexpected. Leading with peak flow rates is such a telling sign though because it gives such an incomplete picture.
Time lines are longer than I thought. So it will be months until next news. The presentation might lift the sp so they can raise some money because I'm not sure how else they would do it. They will probably need to consolidate at some point too.
The RNS says second half of this year.
"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."
Unfortunately, there isn't confirmation yet that it is commercial and the figures in the RNS dont support that premise. 88e is an Explorer not a producer, so if it can't prove the field, it will be worthless to the company. We all await the resource report...
If it was that profitable or efficient, then a major company would have the lease...because everyone would want a part of it... That's the whole point. Its mainly retail investors who are willing to take a punt... I don't see any institutions lining up lol
That's my point skippy. I don't feel like we have actually learned any useful information that we didn't already know. They got some oil out. We were expecting that because PANR managed it. But as to whether it's commercial or not is completely unknown at this point. There is nothing in the RNS figures to even offer a hint that it might be commercial... And yet the wording by the company is very vague and forward looking. It appears in congruent to me. Every day is a school day.