Member Info for Trelawny

Let's see if Russia insist on payment for commodities from unfriendly countries in rubles and the USA continue their build back backwards agenda. Wonder how this will play out. 88 may not be all that bad.

"88 Energy remains in a strong financial position, post the Merlin-2 well, with zero debt and a healthy cash balance that will be further strengthened with projected cash flows from the recently acquired portfolio of Texas production assets, Project Longhorn."

"We are well placed to continue reviewing and progressing opportunities within the Alaskan portfolio and particularly encouraged by the results to the north of Project Icewine and look forward to providing updates in relation to this project over the coming months."

The secret with this share is to take profits little and often and aim for a free ride. I guess that is why currently £2mio buys vs £1.2mio sells. I thought the interesting part of this RNS was

"Unfortunately, this was unable to be achieved using Schlumberger's MDT (Modular-Formation Dynamics Testing) tool due to the tightness of the formation at this location." I guess they knew at 7,334.

Let's see what Texas brings. More heart stopping moments!

Hopefully it's code for its in the ground :)

I put in my notebook that today 88 energy uplift index?

Yes , it is fast track Russian bankruptcy. Start watching from 17.08 (for a minute and half).

https://www.youtube.com/watch?v=Acn_NsJDs_0

I recall their mission statement last year was to be the most cost efficient in every thing that they do, but more over to be the best in the whole market at what they do. That is why they currently have 12 PHD brain boxes working on stuff and led by a bigger brainbox, aka Franceso.

Thanks Francesco and the PHD programmers for an RNS in plain English showing amazing progress!

@ rktech. and we also.. .need to talk about Kamala. Her statement on Russia was...

Speaking slowly, Harris began, “So, Ukraine is a country in Europe.”

“It exists next to another country called Russia,” she continued. “Russia is a bigger country. Russia is a powerful country. Russia decided to invade a smaller country called Ukraine. So, basically, that’s wrong, and it goes against everything that we stand for.”

The RNS is positive!

88 Energy Limited... notes that light oil was recovered during two separate production tests at Pantheon Resources' ... Talitha-A well (as announced by Pantheon on 7 and 21 February 2022).

Pantheon drilled the Talitha-A well, ... just 2.8 miles north of the Project Icewine .... Earlier this year, Pantheon re-entered the Talitha-A well and individually flow tested the BFF target and the SFS target which resulted in the sustained recovery of light oil over a three-day period from each test. All targets are interpreted by the Company to extend into 88 Energy's Project Icewine acreage.

The results of Pantheon's Talitha-A well, combined with its earlier Alkaid-1 (2019) well, have been considered as part of a re-evaluation of 88 Energy's Icewine-1 well data. Subsequent and independent comparisons of the sequence that was tested and flowed light oil ...

... 88 Energy will incorporate these results into an independent prospective resource report for Project Icewine focusing on the eastern leases in the first half of 2022.

HIgher!, Higher!

That looks like the sauna. Someone posted the rig being transported rather than being built and the site to see was quite incredible.

Expect the likes of JP Morgan to go shopping with their 500 billion cash pile, but pray for peace in Ukraine.

When is the decision on the court hearing. Shouldn't it be around now. I was expecting them to win?

@ sparrowhawk. But you may be unable to buy. I took profits and came back today and had difficulty buying the low price.

Page 3/8
The BLM consulted with the Native Village of Nuiqsut (NVN) on the Peregrine Exploration Program in November 2020. Additionally, BLM scheduled a meeting with NVN on November 16, 2021, that was canceled by NVN. Prior to the meeting, BLM shared a map displaying all ice/snow roads planned for the winter 2021/2022 season, including Emerald House’s snow roads. In December 2021, the BLM again attempted to schedule a meeting with NVN but was unsuccessful.

Page 4/8. (Had not produced any new info)
During the public comment period, 25 unique public comment submissions were received from environmental organizations and members of the general public. Additionally, a form comment submission was received from Friends of the Earth, containing 24,455 member signatures. ...The BLM determined that no changes to the Emerald House Peregrine Exploration EA were warranted based on the additional comments received during the public comment period.

Page 5/8 (BLM are ok with it)
“The BLM closely considered all substantive comments received during the public comment period and determined that no new substantive and relevant information was provided that had not already been considered. The BLM determined that no changes to the Emerald House Peregrine Exploration EA were warranted based on the additional comments received during the public comment period .”

Page 5/8 (Decision)
“Decision We have determined that the Proposed Action, with required design features and protections, will not have any new significant impacts on the human environment (see Addended FONNSI) and that the proposed project is in conformance with the approved 2020 NPR-A IAP and Naval Petroleum Reserves Production Act of 1976. The decision will meet the contractual exploration rights for Emerald House to conduct exploratory drilling and testing on their federal oil and gas lease.”

Page 7/8 (Boom)
Based on review of public comments.... it is our decision to reaffirm implementation of the activities as described in the Proposed Action (Section 2.1 of the EA), including the issuance of an Application for Permit to Drill to Emerald House for the Merlin 2 well. The Proposed Action with the protections described therein will not have any new significant impacts on the human environment and neither an Environmental Impact Statement nor a supplement to the existing EA is necessary or required and will not be prepared.

They can appeal but reading this they have no grounds.

More Background

Essential Fish Habitat
Given the time of year for the majority of this proposed activity (i.e., winter), environmental protection measures provided by the 2020 NPR-A IAP ROPs, project specific ROPs, and requirements by other regulatory agencies, effects on Essential Fish Habitat (EFH) are unlikely. The Proposed Action would have “no adverse effect” on essential fish habitats and no further EFH consultation would be required. "

Some background.

"The USFWS concurred with the BLM’s determination that the proposed project would “not likely adversely affect” spectacled and Steller’s eiders, polar bear, and polar bear critical habitat. Given the time of year for the majority of this proposed activity (i.e., winter), environmental protection measures provided by the NPR-A IAP ROPs, project specific ROPs, and requirements by other regulatory agencies, effects on Essential Fish Habitat (EFH) are unlikely. "

..."The action, as proposed, is not in conflict with other resources in the area and is in conformance with current policy of the BLM Arctic District Office."

..."Based on my review of the Emerald House Peregrine Exploration Program Environmental Analysis (DOI-BLM-AK-R000-2022-0004-EA), it is my decision to implement the activities as described in the Proposed Action (Section 2.1 of the EA) and the issuance of a Right-ofWay to Emerald House."

@ floydian. Ashley steered the company last year to zero debt and 38 million in the bank. Please correct the latter figure if I am incorrect.