Member Info for taximan57

Dr Staley, the only 88E director who owns shares is owner and founder of Derwent Resources Limited.

'During the year, the Company paid £27,782; A$51,978 (2022: £27,782 : A$49,321) to Derwent Resources Limited for consultancy services'.

A nice little annual earner over and above his package.

Munnie, Dr Stephen Staley holds 14,342,717 shares, and all directors have share options outstanding

Namibia payment due by 1st June 2024 of $920,000 which covers full commitment for 2024. 88Ehas enough in the bank to cover this so still no debt.

Thank you Cardinal3

I think this is an important point and suggests that 88E were happy with the test results;

'The SMD-B flow test was concluded with sufficient information for the next steps, and the data recorded will assist 88E in optimisation and design processes in the next phase of advancement of Project Phoenix'.

One disappointing note ;) Sorry PANR.

Unlike flow tests on adjacent acreage where multiple gas lift mandrels and valves were used in completions designs, and nitrogen was unloaded in the tubing in stages up the well bore, Hickory-1 utilised a single gas lift mandrel where nitrogen was introduced via one valve at the deepest section. This is viewed as positive indication for future

potential rates and performance.

Older thank you for the answer previous.

Scot, 62% oil in a Texas (longhorn) barrel . (there was no need to try and belittle me regarding calling it Texas barrel)

Scot, cash flow positive after confirming 20% Phoenix costs paid for with still $17M in the bank.

Scot, 42bopd confirmed over 11hr period for upper during natural flow period only with peak flow rate of 70bopd over full test.

Scot, SMD-B average fluid flow rate of 445 bbls over 84hrs giving 127 bbls per day with an estimated 50bopd. Little to no gas and all done with ', Hickory-1 utilised a single gas lift mandrel where nitrogen was introduced via one valve at the deepest section. This is viewed as positive indication for future potential rates and performance'.

So in a nutshell, all well figures are expected to improve over a longer test period, and cash in the bank, with no debt after paying Phoenix.

And I will stick my neck out by saying that Lonestar have not sold their shares and still managed to make the top 20 as the shares generated for improvements/new wells are held in escrow account.

I did ask Older a question regarding escrow but he missed it, maybe someone else can help. If a beneficiary of shares being held in an escrow account was listed as holding a number of shares would the escrow shares be within that total?

I dont have the knowledge nor the time to look up specifics regarding what is in a barrel of Texas oil. I'm sure you will tell me soon enough. As for the $10m, after work overs, the two new wells, and potentially new drill sites it is well within the realms of reality even @ 64%. Self funding 88E.

Scot, not sure where the lie is? The figure of $3M is net to 88E and I said 2025 onwards for the additional.

MadEnglish, sorry but I was referring to the two new wells expected in Texas. They would take the total bopd up to 675 best scenario, but not including further wells as they also have more options there.

I agree on the horizontal Phoenix and would expect similar numbers, I just think someone else will be doing it.

If they get both new wells in play and reach 675bopd they are looking at nearly $10m pa, 2025 onwards, with additional targets for drilling on acreage.

'Net 88E cash flows of ~US$3M expected in 2024' and expected to be more once two new wells in play, subject to successful workovers on 5 others.

I like to think I have the helpful Older on board ;)

Wrong board GB

Begs the question why you are here?

Older, may be a simple question for you, if a beneficiary of shares has those share held in escrow account would it not show on their top 20 shareholders total?

Scccss,the AGM is on 2nd May, maybe they will answers questions and and release after?

Hepran, I think you were right the first time for a few of them, thick and slimy.

Defectors due to spending more time on here than PANR board, but could just as easy be called infiltrators ;) Which is a nicer reference than some have called them :)

I think the presentation clarifies that 88E is not a one trick pony, did I mention PANR? It shows that 88E have multiple opportunities with multi Billion barrels of oil to target, income from Texas (and increasing), farm out with multiple interested parties.

I don't mind a further dilution if it proves Phoenix by horizontal as it then reaches the commercial stage and farm out becomes a realistic outcome. I think the presentation is the seed to further dilution and hope that the share price already reflects this.

I would liked to have seen confirmation that analysis of reservoirs wouldn't take months but it reiterates 2H this year. I also believe that stk barrels are not the important measure that PANR defectors think it is, and hopefully a further release will confirm all is well :)