Member Info for taximan57

Older, I see that thank you. What about when you add the other reservoirs, ie the Upper? The first flow test res that even PANR missed?

Older, an extension by definition cannot be the same size, however I do see the depreciation part of your analysis. Can I just say that this 1 BOPD well may be the reason they are placing 2 new as this will remediate the slowdown. As far as I know there are still 1M Barrels available for lifting and it would be prudent to try and recover as much as possible.

Can I also ask a genuine question on a reply you gave to another, where does the 29% come from?

We may be witnessing the start of a huge escalation today with IRAN and ISRAEL, it kind of puts arguments and disagreements on this board into perspective. No time to waste on petty squabbles.

Older, a simplistic view but maybe a layman's view/analogy, if I pay to put up an extension on my house I would expect the value of my house to increase by at least what it cost to build the extension. "Creative stuff, moving expense/spend into asset value" is exactly my point, nothing wrong with that as my extension has increased the value of my house by more than the cost, and to add to that more people are interested as it is now a larger property ;)

Thank you Older, always appreciate your input and corrections. I am aware that they are investing more into Longhorn as this is the asset that 88E expect to cover costs going forward. They have a plan, they have funds in place and I am confident that by year end they will be hitting 600+BOPD.

Scot, I am not responsible for any other posters on this board, especially holders, and you may want to listen to yourself as the main theme of others on replying to you is that nobody cares what you think.

I maybe see you differently as I am prepared to listen and learn, but I think anyone on this board who makes financial decisions based on anything either of us say would be foolish, that goes for me also as I would consider myself pretty stupid to listen to a stranger then buy/sell on the strength of what they say, especially as you so rightly point out that I do not have the knowledge and that some of what you say is guesswork.

I see that you are still stuck on the market valuation of a barrel of oil, please let it go and maybe just maybe some will listen to you without ridiculing or insulting you.

My opinion is that LONGHORN will be exactly what 88E wants it to be, a cash cow for future leases and exploration.

I also think Phoenix will not be developed by 88E but will be farmed out with a non working % retained and a lump sum. IMO

2B or not 2B that is the question

My apologies to all on this board for encouraging Scot, I didn't realise I needed so many corrections. And he didn't even follow up on my suggesting Texas was actually making money not losing ;) I am happy to call Longhorn a cash cow ;) 16.02

Not sure why you think Texas is losing money, it may not be at the point expected but it is still turning over and as management said it is there to cover lease costs and exploration. And, said this a few times, by year end they will have a further two wells working toward a target of 600+BOPD which even at 75% is a good investment. $5M loan in place should it need support for remedial or new works.

I couldn't find how much PANR are making but going by their p/e figure (can I use it now?) of minus $250+M I guess they are struggling along on their $8M cash reserves whilst still paying the bond and capital.

Thank you for correcting all my errors ;)

Just watched a previously posted video, and noted the comments about possible farm out. They did not want to speak with potentials prior to flow test as they did not think they would get the right offers, but from what he said he sounds confident of getting better offers after the flow test.

https://www.youtube.com/watch?v=Y6F6VtxGwR4

I have no doubt that with the company having a drone there will be leak of it soon.

Not sure there is one chrisev, we had the video from the company showing flame from first test and a roadside pic of the first but nothing since. Annoying that there was doubt about the picture being real and the company holding onto that video when it could have confirmed.

Is that falcon oil or falklands oil and gas?

Who are you Munnie that I should learn from you?

Dilution % to be decided at AGM 2nd May and also consolidation. Neither is a given. As mentioned before by another 88E are not looking to develop Phoenix, more than likely get the analysis done and look to unload. imo

Damn, just woke up so please ignore my last posts ;(

Humble pie all round, my apologies RBO, it was chrisev1 post, and the same apologies to chrisev1.

Although may have read your post wrong, no money relate to Longhorn or 88E in general?

RBO, just checked your figures Longhorn has a $5M loan in place if money needed, and by year end they will be contributing $Ms to the coffers.

MMO I truly hope he is wrong, I think his estimates are low and based on pre drill estimates. 88E should have updated them before now.

RBO, I shouldn't, but that was funny :) Sorry MMO

Pre drill estimates Older, surely they will change when the analysis is updated?