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'The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing
an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the
commencement of normal trading on Friday, 26 April 2024 or when the announcement is released to the market'.
So potentially good news, a partner found for Leonis or Phoenix? No mention of CR or discount or consolidation. As usual the derampers push a negative slant.
Nice to hear from you again Older.
I was thinking in simplistic terms that if you can produce something then it is already commercial, you just have to find a buyer. That said I now see that an early production service (eps) is what 88E are striving for not what they have. I thought I read somewhere that they were producing because they had oil to surface but that is just a phase leading to eps.
Poor wee lamb ;)
'Successful Hickory-1 flow test confirms discovery and producibility of light oil, NGLs and gas from multiple reservoirs'
If you can produce something surely you can sell it?
On another topic;
Umiat with 94mmboe flows at 200bopd, I take it that is from a vertical well?
Icewine West is stated to have a prospective resource of 1.1B mmo net.
Project Leonis: Targeted farm-out commenced with multiple parties engaged in data room review.
My guess is the multiple parties engaged regarding Leonis are also looking at Phoenix, a ready made audience.
'Initially Geodes was happy enough to correct his *factual* errors when politely pointed out. However, over time he bristled at the *factual* corrections and then blocked me', if that is not correcting him then what is? I will give you this Scot, you can definitely manipulate words to suit any situation. Clearly you corrected him and he took affront and binned you,
Scot, are you sure Geodes blocked you because he was fed up of you pointing out his errors, or is it more likely that he got fed up with your sanctimonious I cant do anything wrong holier than thou attitude? Similar to the majority on board here?
Seriously you are telling us you correct on many an occasion an expert in the field and he blocked you for that reason?
Trying t ignore the fact that you are a wee jambo ;) but you are right. We have so much negativity on here that it is nice to get some kind of independent opinion, and it happens to be positive.
Still discovering Bs barrels of oil in Namibia;
https://www.msn.com/en-gb/money/other/portugal-s-galp-says-field-off-namibia-could-contain-10-billion-barrels-of-oil/ar-AA1noW7o?ocid=msedgntp&pc=U531&cvid=4c1d3a20c36f4952cf06af1ac6a7c161&ei=84
'Galp said flows achieved during the tests reached the maximum allowed limit of 14 thousand barrels per day, potentially positioning Mopane as an important commercial discovery.
"In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher", Galp said.
Galp holds an 80% stake in Petroleum Exploration Licence 83 (PEL 83), which covers an area of almost 10,000 square kilometres in the Orange Basin'.
From the subject header;
'Personally, I congratulate 88 Energy Ltd. They have made a significant discovery in the North Slope of Alaska and did so on a "shoe string Budget" and had to dilute the shareholders to do so. Now they have something to build on and attract financing or a buyer. Bottom line, they have discovered a Giant Field by the Globally accepted definition'.
Sounds so good it should be repeated;
'88E has a 75% stake in the acreage. As of March 31, 2024, 88E is fully funded to develop Project Phoenix and its other assets in Alaska, Texas, and Namibia.’