Member Info for Stockraiser

RIG 111 SPECS

Rig 111 is fully winterized to include enclosed modules and walkways, enclosed and automated cat walk system, insulated pipe shed, 45′ joint capacity, 500bbl mud system, indirect fire air heaters, complete steam system in all modules, IADC level 4 certifications, API certified equipment, and extensive critical spares inventory.

Tks Scouser

@ 0.357 on UT

PART2

The proceeds of the Rights Issue and Shortfall Offer Placement of A$8.0 million / approx. GBP4.1 million (before costs), which together with the Company's existing cash reserves (A$7.3 million (approx. GBP3.8 million) as at 30 June 2023), will strengthen the Company's balance sheet and provide the Company with further capital to fund 88 Energy's share of the Hickory-1 well flow test at Project Phoenix, permitting and planning for a potential new well at Project Leonis. The issue of A$4 million worth of Capital Development Shares is expected to save the Company at least an equivalent amount in cash costs on development wells for Project Longhorn production growth, so that the value of the benefit to the Company from the Rights Issue and Shortfall Placement totals A$12.0 million / approx. GBP6.4 million (before costs).

The Company has agreed to part fund its share of the first two new wells at the recently acquired Bighorn Phase 2 acreage anticipated to cost US$3.0 million (net) in development capital, through the issuance of A$4.0 million worth of 88 Energy shares as part of the Shortfall Offer Placement (approximately 667 million shares at a deemed issue price equal to the offer price of A$0.006 per share under the Rights Issue and the Shortfall Offer Placement) to Lonestar I, LLC ( Lonestar ) ( Capital Development Shares ).

The Capital Development Shares will be held in escrow and subject to certain restrictions and will only be released from escrow following approval by 88 Energy. Lonestar has the option to dispose of Capital Development Shares, subject to certain restrictions under the agreement. Any proceeds from the disposal of the Capital Development Shares received by Lonestar are to be held on trust for 88 Energy until the associated invoices are received and approved by 88 Energy for the capital development program. A reconciliation process and payment of any outstanding amounts due (in cash) will occur prior to year-end 2023.

Total New Shares to be issued under the Shortfall Offer Placement represent approximately 7% of all Shares of the Company publicly on offer. The New Shares issued under the Rights Issue on 29 August 2023 commenced trading on AIM on 30 August 2023. Settlement of the Shortfall Offer Placement on ASX is scheduled for 7 September 2023, with normal trading on ASX commencing on 8 September 2023. Application will be made for admission of the Shortfall Offer Placement Shares to trading on AIM ("Admission"), with Admission and settlement expected to occur on 8 September 2023. All of the New Shares will rank equally with existing 88 Energy shares on issue.

30/08/2023 12:07pm

UK Regulatory (RNS & others)

88 Energy (LSE:88E)

Intraday Stock Chart

Wednesday 30 August 2023

Click Here for more 88 Energy Charts.

TIDM88E

RNS Number : 8342K

88 Energy Limited

30 August 2023

88 Energy Limited

Completion of Rights Issue Shortfall Placement

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) ( 88 Energy or the Company ) is pleased to announce the completion of its Shortfall Offer Placement from the non-renounceable rights issue ( Rights Issue ), at an issue price of A$0.006/GBP0.0031 per Share.

The Rights Issue closed at 5:00pm AWST on 22 August 2023 with results from the processing of valid applications announced on 29 August 2023, with the Company issuing 553,070,348 New Shares to eligible shareholders under the Rights Issue.

As a result of the strong inbound demand received from other investors during the Rights Issue and subsequent Shortfall Offer process, the Company has received firm commitments to place in full all of the New Shares not taken up under the Rights Issue via the Shortfall Offer representing 1,457,716,470 New Shares to be issued ( Shortfall Offer Placement ), of which 675,000,000 ordinary shares will be issued under the Company's placement capacity pursuant to ASX Listing Rules 7.1 and 782,716,470 ordinary shares under Listing Rules 7.1A. Shares issued under the Shortfall Offer Placement include the Capital Development Shares referred to below.

IMHO there are currently some very enraged personalities on this BB.

GLTYA SR

As far as I'm aware the trading halt only applies on the ASX.

"The Company also announces that its shares have been placed in a trading halt on the ASX pending the release of an announcement in relation to the completion of the Placing"

Https://hotcopper.com.au/threads/ann-completion-of-rights-issue.7553278/

Tuesday ......... Yep, still hanging in here, must admit though, getting a bit tired now. But hey, someone once told me, when you feel like quitting that's usually the time to buy....lol ..... ;-)

GLA SR

They really are not friendly at the moment - keep a good supply of ammo ;-)

GLA SR

Looks like Mr. Grosso has added approx another 1m shares - now holds 14.37%

GLA SR

A blip with the mine - progress with GreenRoc with good news anticipated in Sept - I've added this morning ;-)

GLA SR

Been here since April m8 - most in here a free ride now ;-)

GL SR

Graphite Is The Big Winner In A Multi-Trillion Dollar EV Boom.

https://oilprice.com/Energy/Energy-General/Graphite-Is-The-Big-Winner-In-A-Multi-Trillion-Dollar-EV-Boom.html

Skwizz - Don't you use VPN as it's one thing everyone should be using?

GL SR

I received this information this morning .... I will be electing to take up my full entitlement.

GLA SR

------------------------------------------------------------------------------------------------------------------------

Holders of 88 Energy Limited Basic Entitlement (88EBAS.XLON.GB) shares have the right to subscribe for 88 Energy Limited Basic Take up Entitlement (88EBASTU.XLON.GB) shares. Each entitlement held gives the holder the right to purchase a share for an exercise price of GBP 0.003100.

Holders electing to take up their full entitlement also have the option to apply for additional shares. There is no limit on the number of additional shares a holder can apply for. With regard to the excess shares offer, the company may choose to use 'scaleback', allocating individuals who've applied for the excess shares a percentage of what was originally offered. As a Barclays client, because your shares are held in a nominee position - grouped together with other customers - it may be that the percentage you receive is actually higher than the scaleback rate announced.

For holders electing to subscribe, subscription monies will be debited after the 18 August 2023 and new shares are due to be allotted on or around the 29 August 2023.

Elections must be submitted by 18 August 2023 otherwise the default election option will be applied.

Https://www.bbc.co.uk/news/uk-scotland-66404777

Why disrupt such an environmentally friendly sport - beyond belief.

Come on, you've got to admit those villagers don't give a flying duck about saving the planet, it's only, and I mean ONLY, because its being considered in their back yard. When did any of these villagers demonstrate prior to this!

If drilling was not being considered in their back yard they would not be demonstrating in any way, shape or form.

Look at them with their placards ....

https://drillordrop.com/2023/06/08/minister-breached-rules-in-approving-dunsfold-gas-site-court-told/#jp-carousel-99815

"STOP FUTURE FRIGGING FRACKING" - Well thats incorrect for a start as UKOG don't frack.

"NO NEW FOSSIL FUELS" - Well not in our backyard in anyway.

"JUSTICE FOR THE PLANET AND PEOPLE" - Don't they mean for the village and villagers.

"MORE FOSSIL FUELS? OVER MY DEAD BODY" - Really, you'd go that far would you? Talk about dramatic.

And, as for Cllr Paul Follows (see link below), well he'd say anything to get the villagers votes - that's a Cllr's job really. I wonder how much oil went into that beast of a speaker he was using.

https://drillordrop.com/2023/06/08/minister-breached-rules-in-approving-dunsfold-gas-site-court-told/#jp-carousel-99813

Last but not least is the biggest plaster saint I've ever come across - Of course I'm referring to Mr Jeremy Hunt.

GLA SR

Only approx 8wks until Oct - do not expect the price to be around this level by then, as always the sp will possibly rise significantly before news and then peak on the news ;-)

"Oil explorer 88 Energy has confirmed it has multiple targets waiting to be tested at Project Phoenix project once the Alaskan winter operation season begins in October."

https://thewest.com.au/business/public-companies/88-energy-set-to-plunge-into-alaskan-winter-oil-hunt-c-11070273

Also ---------------------------------------------------

From RNS 31/07/2023

-- Permitting and planning commenced, with the flow testing program scheduled to begin as early as possible during the 2023/2024 Alaskan winter operational season

-- Rig selection expected to be concluded imminently for Hickory-1 flow tests

Personally I believe the rig selection will be the next RNS to push the sp higher, and that will be the turning point - that news could come anytime now, certainly before October.

GLA SR

RNS Number : 2718I

Esken Limited

03 August 2023

ESKEN LIMITED

("Esken", the "Group" or the "Company")

Completion of sale of investment in Mersey Bioenergy

Further to the announcement on 20 June 2023 of the conditional sale by Esken Green Energy Limited of its investment in Mersey Bioenergy Holdings Limited and its wholly owned subsidiary (together "Mersey Bioenergy") to UK Waste Resources and Energy Investments L.P., a member of the Evero group (formerly known as Bioenergy Infrastructure Group) for a total cash consideration of GBP9m (the "Disposal"), Esken, the aviation and renewable energy group, announces that the Disposal has been completed today.

The consideration of GBP9m was paid in cash on completion, and the cash will be used for repayment of debt and working capital purposes.

This Disposal does not impact the Mersey Bioenergy Fuel Supply Agreement with Esken Renewables Limited, which expires July 2035