Bob : Can you imagine what it might do to the value of B and C if Premier get oil to flow on a commercial basis ?
PMO have the option to buy a 50% stake in B ~ OR ~ C .
Well they might not do anything ! They might take their 50% , leaving 88 to sell or develop the balance at (presumably) a very much , VERY much higher value .
They might just bid for the whole lot !!
It illustrates to me just what a smart cookie DW is to have negotiated this deal .
HRZ / YUKON to come next ?
As this warms up it might do more damage to the North slopes than the Global Warming :)
Well said Smokin` !
I honestly think that quite a lot of people playing in the AIM Casino have the attention span of a butterfly . They don`t bother with much research they just look at the price the graph and the sp direction ! If the jackpot doesn`t drop after 88(!) spins , they just move on to another one arm bandit .
Phrontist put up another good post earlier (19.02) ~~~~ Softly , Sofly , Catchy Monkey .
Yes , the last three days have been `Interesting`, the next three months will be VERY interesting .
My view matters for nothing except to myself and I`m more positive than ever about the prospects for 88e .
It`s a long time since I stayed in Blackpool , but I remember it a a very friendly fun place . There used to be a great Disco in the basement of the Imperial Hotel !
Go have a good blow out (on the beach!) Chartman and don`t worry about 88e for a few days , we`ll be here when you get back :)
(F***in) Farmin Madness today !
I have no intention of reading all the crazy posts ; Rotten Deal / I wanted cash / I hate Dave / Rubbish partner / 4 years for nothing / credit raise / He said Tier1 ....etc .....etc
What a load of rubbish from short term opportunists who bought in anticipation of a spike on release of the FO .
Clearly many didn`t get the result anticipated and have left dissatisfied , some people obviously just haven`t a clue , some longer term investors also seem to have given up , and then there are the mischief makers and a few trolls . A typical day of `Sell the News` in the AIM Casino . Hardly a mass exodus .
Well done DW ! No doubt there will be an increased level of news from now until spud next year , with HRZ and Yukon soon .
I would say that 88e was a far more attractive proposition today than it has been all year , the start of some serious exploration we are the operators , we have only given away 60% of area A , The tier1 Company (That`s what Premier means !) have options of 50% over B and Cand , so assuming a successful outcome (and remember BP proved the Oil was there ) Premier `only ` (!) have to demonstrate commercial flow rates . etc etc ....
This all sounds like a very good deal to me , the temporary fly in the ointment are `investors` who just can`t wait . That`s ok , people can do what they like , they`ve had a bit of a negative impact on the price today but I suspect that will be a blip in the coming months , in fact I would not be surprised to see us back above 1.10p + short term , some people need a little time to consider the detail and are certainly not going into the Kennels at feeding time .
For myself I see 88e starting to make traction , and momentum will surely increase as we move to Q1 .
Don`t waste time trying to round up the Dogs , they`ll probably find a way to escape again .
btw ~~~ While skimming the BB , I did read some very knowledgable , cogent posts , particularly from Moneyhawk , I don`t think these people have been drowned out by the Baying Hounds .
~~~~ "Let`s just hope there might have been a teeeeny weeeeny bit of leakage today" ~~~~
MMmmnn ~~~ VERY difficult to keep the lid on these things indefinitely , especially when it gets really close to release day , Nomads/ Brokers/ MM`s / Legals and RNS news feeds start to get drafted and people DO talk .
As the market took a nice upward turn , we can but hope that it is an indication of a positive outcome at last .
My `Guess` , and it`s only a guess , is that the Mystery undeclared II has not been required to issue a TR1 because they do not have (now?) a notifiable holding .
Very difficult to unearth much information about this Private Company :
Ozone Homes :
George Prelea Principal .
Presumably (?) Prelea`s father .
Employees at Ozone Homes
Andrew Prelea ~ Chief Executive Officer at VAST RESOURCES PLC
Nelu Petre ~ Sales Analyst at Ozone Homes
Claudia (Minea) Tesleanu ~ CHIEF ACCOUNTANT at OZONE HOMES
Piyush Aggarwa ~ Director
Dorin Iancu ~ GM
Just managed a phew more before we started to tick up !
Is this a bit of FOMO ? Has the `Beast` made a detour ? Has someone spotted Rig 13 ?
Has Zoro spiked himself with his own sword ? Has DW shaved off his whiskers ?
Has Denmark offered to buy Alaska ?
It`s all very confusing , but I like it !
Let`s just hope there might have been a teeeeny weeeeny bit of leakage today
and that this will be coming home before the next World Cup ;)
Very true isas .
Last year Prelea had it all . With a sensible clearly thought out strategy the funds could have been raised to bring BP on stream this year .
Instead , arrogance , ignorance , incompetence and blind stupidity have reduced us to the parlous state we are in right now .
AHHhhh ! ~~~~ Hindsight .
If I had known more about Prelea then ~~~~ My mistake .
Agreed . I think you will be satisfied ~ Neversatisfied !
1 . If this was something insignificant DW would not have chosen this Farminee in the first place .
2. If this was not going to proceed , either party would have pulled the plug months ago .
3. The time taken signifies that there are very complex arrangements at stake .
4. There seems to be serious focus on the leases south of Prudhoe bay , specifically the North slopes .
5. The secrecy and confidentiality suggests the huge significance to both the Farminee and 88e.
6. 88e has other interests , which might be of interest to the Farminee .
7. The information flow regarding the FO has become steadily more positive culminating with the $500k .
8 . 88e SP should improve dramatically with confirmation of a positive outcome .
9. The consequences of a positive out come should see continued uplift in the SP through 2020 ..
10. A robust financial position will enable development of other assets .
Looks good to me and as another mot has gone by , I`ll be in the market for just a few more this week .
Can`t be long now , even if it does go beyond 30th !
Good luck everybody . (Well almost everybody !)
Gemstar : That`s a very fair point , however surely if were the case all the Company has to do is to confirm that as fact to stop any further adverse speculation ? Also , if there are flattering sections of the report could they not release a few paragraphs to support a statement indicating some exceptional value , or even value confirmation ? Most reports will have a summary .
I don`t know the answer to this conundrum .
I think we would have required 1 Million Exclusivity for the hire deposit front payment on `The Beast` .
As we only got 500k , perhaps we should be looking for a `Rig 13`, which is presumably half the size of Rig 26 , and called:
`The Insect ` !
A pity , I think they are turning left , they don`t seem to be going straight on . Could we turn the sign posts round ?
ConocoPhillips orders monster rig to set new drilling standard and tap new field in Alaska
pencil Author: Alex DeMarban clock Updated: October 7, 2016 calendar Published October 6, 2016
ConocoPhillips has ordered a powerful new drilling rig that will surely crush long-distance drilling records in Alaska while allowing the company to unlock oil from a new field northwest of the Alpine development.
The company said on Thursday it has signed a contract for the building of the rig with Doyon Drilling Inc., an Alaska Native corporation.
The news comes on the heels of an announcement from ConocoPhillips last week that it set a new mark for drilling length in Alaska with a 5-mile well at its CD5 field on the North Slope.
This new rig, set to arrive in Alaska in 2020, will allow development of Fiord West, a field discovered in 1996, the company said. It will be able to drill wells 6.25 miles long, more than the 4 miles often drilled by long-reach rigs in Alaska.
[Caelus claims Arctic oil discovery that could rank among Alaska's biggest ever]
ConocoPhillips has drilled exploration wells at Fiord West, but is not ready to provide details on how much additional oil the field will add to the trans-Alaska pipeline, said Natalie Lowman, communications director for ConocoPhillips Alaska.
The new Doyon 142 drilling rig operates on the Kuparuk Drill Site 2S pad in August. (Judy Patrick / ConocoPhillips)
The pipeline, moving the oil that pays most state income, is shipping an average of 508,000 barrels daily this year, down from the peak of more than 2 million barrels daily in the late 1980s.
Gov. Bill Walker said the drilling unit will have a "multiplier effect" on the economy. He lauded ConocoPhillips and Doyon for efforts to "spur production during fiscally challenging times."
"This is welcome news, as it fulfills lease terms for Fiord West, which is near Alpine in the Colville River Unit," he said.
Most of the leases are on land jointly owned by the state and Arctic Slope Regional Corp., another Alaska Native corporation. The state would receive royalties, as well as property, income and production taxes from the development.
The rig will employ about 100 people during operations – 50 workers in two shifts – and support hundreds more jobs, such as contractors involved in transportation, drilling materials and logistics, ConocoPhillips said.
"The addition of this rig to Doyon Drilling's fleet means more jobs and more opportunities for development," Aaron Schutt, chief executive of Doyon Inc., owner of Doyon Drilling, said in the statement.
SSssshhh~~~ I shouldn`t really say this ~~ But ~~ You would probably be able to make a better job of presenting than PH.
Unfortunately his poor presentation skills could be interpreted as ; immature , inexperienced , or even incompetent .
When the little puppy came bounding out of it`s playpen , barking and drooling over the Proactive Desk we all took notice .
Since he was dragged back into his kennel and castrated , he`s been (understandably) rather quiet . He wont be performing those happy little puppy tricks again .
I`m sure he`s also been undergoing some strict obedience and house training classes , so I`m hoping that he will grow into a much admired well behaved dog .
Puppies grow up very quickly , so I am reserving judgement because , he was quite probably on the right scent all along !