The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Do you think that moaning about the past is going to encourage new punters!
Well they won’t if the are joining a hard done by bunch who can only complain and talk about the past!!
Yes, everyone stupid, greedy idiot lost money in the past backing this share and I was one of them from the early Puntland days.
Yes, I kept my shares as they were worthless as did many of you, but times have changed, and yes, the old management are less than you
would desire but this time they have a real chance of hitting the JACKPOT. Not that they deserve it!!
Can we leave the past where it is, in the past, and can we not insult Island Girl whatever his or her says or for that matter anyone else, lets put a new positive face to this board and get interested people to join us , the past is irrelevant we have a new game in town and we should be encouraging new people to join in not putting them off by harping back to the past.
Brandy has lucked into to the best game in town, feel grateful, and keep our fingers crossed for a positive result.
https://www.oilsearch.com/
Read this info on the above site Pikka B well in Alaska encounters hydrocarbons in the Nanushuk formation
https://www.epmag.com/oil-search-hikes-oil-potential-alaskan-oil-discovery-1714481
The latest oil find is just near by!!
Red Emperor near highly anticipated Winx-1 exploration well drill
By Meagan Evans. Published at Jan 7, 2019, in Energy
Natural resource exploration company, Red Emperor Resources (ASX:RMP), has today provided an operational update on its preparations for the drilling of the Winx-1 exploration well, located on the Western Blocks, North Slope of Alaska.
RMP, along with its consortium partners, 88 Energy (ASX/AIM:88E) and Otto Energy (ASX:OEL), will participate in the drilling of a highly prospective Nanushuk oil trend exploration well on the Alaska North Slope early this year.
The drill target is immediately adjacent to, and a direct analogue of, the Horseshoe 1/1A oil well drilled by the Armstrong/Repsol JV in 2017. Horseshoe is part of the billion-barrel-plus Nanushuk oil play-fairway, one of the largest conventional oil fields discovered in the US in more than 30 years.
The consortium operator, 88 Energy, commenced construction of the approximately 11-mile (18 kilometre) ice road required for mobilisation of the drill rig in January 2, as planned. It is estimated that the ice road will take approximately three weeks to complete, after which construction of the ice pad, from which the Nordic Rig#3 will drill the Winx-1 well, will commence.
Additionally, the requisite application for a Permit to Drill for the Winx-1 exploration well was submitted on schedule to the Alaska Oil and Gas Conservation Commission (AOGCC) prior to the 2018 calendar year end. This means that all logistics and permitting remains on schedule for a mid-late February 2019 spud date. Additional details of the expected drilling and testing programme will be released in due course.
The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway with a gross mean unrisked prospective resource of 400 million barrels (126MMbbls net to RMP).
The primary objective of the Winx-1 exploration well is the Nanushuk Topset play, targeting the Nanushuk 4 and 5 sands. The Winx prospect has been identified using the Nanuq South 3D, which covers the third party 2017 Horseshoe discovery, plus a large swathe of the Western Blocks. Similar amplitude response is observed at the Winx prospect to that seen at the successful Horseshoe well location, which is situated approximately four miles (6kms) to the west.
RMP CEO, Gracjan Lambert, commented: “It is very exciting to reach this significant operational milestone with commencement of ice road construction. We are on schedule and fast approaching what will be a very exciting and potentially company transforming well.”
Dave Wall, Managing Director of 88E, stated: “Commencement of drilling at the highly anticipated Winx-1 exploration well is now as little as six weeks away, with everything proceeding to plan.
“Winx-1 aims to further extend the Nanushuk play fairway, only four miles east of the recently successful Horseshoe well where similar seismic amplitude response was obser
Hi Taken from Wikipedia with thanks.
Oil reservoirs typically extend over a large area, possibly several hundred kilometres across!
We will need to be very unlucky to have a duster on this drill.
Thanks for the info. I found the drilling you were referring, they were looking for shale oil, but this new drill is around 60 to 70 miles away from the old site.
Great Bear spent around 80$ million buying leases (a least 200) in Alaska and most of them are in the area you mentioned off the Dalton Highway which goes to Deadhorse near Prudhoe Bay.
For some unknown reason they also bought 4 leases (perhaps they were cheap) south of the Colville River.
Our drill site is about 2 to 3miles away from the now famous oil discovery named Horseshoe 1.
Great Bear ran out of money, had to give back some of its leases and would have lost more leases if it had not done a deal asap with someone anyone!!
This is without doubt the best chance anyone on this board has of making serious money. Yes of course we can get a duster but we now have enough money to drill another well in one of the other three blocks.
Backed up by the 1972 drill on our acreage (Which modern 3d showed was drilled in the incorrect area) flowed oil to surface just not in commercial quantities.
Where did you pick up this information? And can you post deatils where you found it
Thanks
This is good news!! Enough money now to fund three wells without going bust.
They were always going to raise cash before the drilling started and it's a great deal of money being bet on a good result. The backers who funded either or both previous placings lost a great deal of money, which has been dead money for years and years. Either there are more suckers out there than we think or this time they know more than we do about the success ratio on this drill!
Hopefully the latter.
Weather forecast for Jan and Feb are good, most days under 15c- so the ice road should be built on time.
Hauling and erecting the rig should be on time as well. So max of 60 days before we know the result.
Looks good but I guess we are in for a number of surprises knowing the shower were in bed with.
I would expect a minimum of £1m to £1.5, any more than that and we could be in trouble.
I have been around since Puntland so I remember Island Girl, guess she lost a lot on this share!
Talking of the old days any moment now and Sir Bob will appear!!
I have looked at all info regarding Great Bear, Armstrong, and Alaska State etc and Red Emperor got very lucky to be invited to the party. We don’t deserve to be in with a chance on this drill and we don’t have enough cash to fund another one. £1.5m extra money plus our reserves would see us drilling another well and still be in with a chance of hitting the big time.
Looking at all the published info on this drill I would suggest that we stand a 50:50 on this one.
Perfect weather for building the ice road.
At this rate I don't see this share getting any higher. Oil is down big time, no new punters are arriving, quiet as can be.
Strange when you think this is the best 50/50 bet in the market!
I know preparations are under way but ideally you must have a temperature of -15C.
I just don't believe that the shares are going down. Who sells shares with a value of: £135 £255 £320 £71 £154
£132, its not worth trading such small amounts. Those are the last sells during yesterday!!
The ony thing that I am concerned about is when they will be able to build the ice road?
A Quote attributed to Parke Dickey.
"We usually find oil in new places with old ideas.
Sometimes, also, we find oil in an old place with a new idea, but we seldom find much oil in an old place
with an old idea."
Several times in the past we have thought that we were running out of oil, whereas actually we were only
running out of ideas.
One of the drills is about 3 mies away, the others are I think further down the slope. Look at Red Emperor web site info is there in a PDF
Thanks everyone for the info. I agree Bandy will raise a couple of mill during the drill and not before.
It's still a long wait before we start drilling. So, all we can do is welcome back those of us like Islandgirl who have been through this before. Hope springs eternal.
Can one of you remind me of the following:
1. When did RMP raise the last tranche of money during the Puntland Drill and how much and what was the share price before and after.! Can find this info on the official website.
2.Don't remember if he raised money during the last drill.? Anyone remember?
3. Last drill was a unlucky as there had been sign's of oil, but it had migrated elsewhere. There is oil in that region and lots of gas.
4. Having looked at this new prospect there is oil all around the drilling site, but again this prospect, whiich shows up well on the Seismic surveys, may no longer actually have oil on it. But this is our best bet ever!!
I have been around since Puntland, as has a friend of mine.
Needless to say I am not a fan of the management.
The last time I looked at the number of shares in nominee accounts the fiqure was over 50% Not sure how we are in a position to block this!! If we can I am all for it but all attempts over the years have failed, probably because of the above.
This drill is probably the last chance for RMP and Bandy's as well, however I have noticed through life that the most undeserving people often have the best luck. Much as I think he is useless, Brandy is one of those.