Share Name Share Symbol Market Type Share ISIN Share Description
88 Energy LSE:88E London Ordinary Share AU00000088E2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025p -1.23% 2.00p 1.95p 2.05p 2.05p 1.875p 2.025p 26,040,524 15:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -5.5 0.0 - 92.97

88 Energy Share Discussion Threads

Showing 15401 to 15423 of 15425 messages
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DateSubjectAuthorDiscuss
21/9/2017
05:53
sub 1p this year
jammytass
21/9/2017
05:52
the globe punters where warned time and time again that this was a duster free fall on card £1 party lol
jammytass
21/9/2017
01:44
Already down 25% on the asx. Oh dear time to bail out
apfindley
21/9/2017
01:40
Oh dear spooks, you looking a bit silly now.. Shut in until next apr/may, and sounds like will try to recover frac fluids at that point too. Should've listened to me last week when I said they were struggling to reclaim frac fluids and at a very slow rate. Oh and why are they waiting until next year? Oh is it because of the weather in this remote location. A location where they will not be able to make the rampers 100bopd viable. This is what you get for listening to rampers. Blood in the morning folks. Oops.
apfindley
21/9/2017
00:58
Well shut in until April / May 2018
tidy 2
21/9/2017
00:57
1p on the way
defcon3
20/9/2017
18:12
Wow to the 3 Mil buy just earlier. Big confidence from that individual
billyboychrisd
20/9/2017
13:28
88Energy will not be the first explorer who will get into significant problems due to not recovering their tax credit. 88Energy might be slightly more stupid than other operators and borrowed on the tax credit, which may result in them needing to restructure. BlueCrest, stopped drilling, the Stat of Alaska owes them $75m, which they haven’t received. Caleus Energy postponed appraisal drilling at the 6bn barrel Smith Bay discovery due to funding issues. hxxp://www.alaskapublic.org/2017/08/14/bluecrest-is-latest-company-to-stop-work-citing-states-defunct-cash-for-credits-scheme/
lowflow
20/9/2017
09:06
The darkest hour is just before the dawn
rossowheels
20/9/2017
08:54
spooks3, the State of Alaska budget for 2018 has been approved. hxxps://twitter.com/EasyBrent/status/910411287020097537 The State has earmarked $57m of repayment for exploration tax rebates during 2018. However, the total claim from E&P companies is in excess of $1bn, meaning that the state is paying back around 6% of these rebates next year. So 88Energy getting 6% of its $17m claim, that will not solve 88Energy financing issues. They may even get less as several Alaska explorers have claims which are older than 88Energy claims. I think you should propose to David Wall that they should sue the State of Alaska, that will end well. The facts remains: - Icewine #2 is a massive failure and it has cost considerably more than expected (which you can read in 88 Energy Q2 report if you actually read the financial statements). - 88 Energy will hardly have any cash left when the Icewine #2 well is completed. - The company will still have $17m of debt which is due next year. - 88 Energy has no funding in place for their conventional prospects. - Anyone putting in new cash in 88 Energy from this point knows that the first $15m will go to repay debt and not drill wells - that is not a compelling equity story. 0.5p by end of the year.
lowflow
20/9/2017
08:06
This has not yet been passed and the smaller companies may still be allowed to collect tax rebates. When it has been finalised then post away
spooks3
20/9/2017
07:47
What joy the filter.
ride daice
20/9/2017
07:42
88 Energy Cash Situation Very Challenging After the Icewine #2 Well - The company had $A 31.553m in cash at Q2 end (page 3, Q2 Quarterly Report) - The company expects to burn $A18.7m in cash in Q3 (page 4, Q2 Quarterly Report). -> Leaving the company with $A 12.8m in cash by Q3 end - The company has $17.7m in debt ($A 23m) which is due for repayment in 2018 (page 4, Q2 Quarterly Report). -> The end of Q3 cash balance cover only half of the debt up for repayment in 2018. - The debt is secured with the Alaska tax rebates, but 88 Energy only expect to receive $1m in the next 12 months as the Alaska State has postponed repayment of the tax rebate due to significant budget shortages. - 88Energy expected cash outflow for Q3 was announced 17 July, many weeks before the company opened the flowback after the pressure build up, which so far has been unsuccessful. A fair assumption is that 88Energy will have additional cash outflow in Q3 and beginning of Q4 due to these testing issues. -> Its very likely that 88 Energy cash balance after the Icewine #2 well has been completed will be well below $A 10m. -> 88Energy wont have enough cash to repay the Bank of America debt next year. -> It will be very challenging if not impossible to raise equity for 88Energy when the first $10-15m will be used to repay debt. This stock will most likely trade down to 0.5p by the end of this year. 88Energy Q2 2017 report hxxp://clients3.weblink.com.au/pdf/88E/01875337.pdf
lowflow
20/9/2017
02:03
State defaulting on a payment due is a default no matter how much you like to dress it up. A pig with lipstick is still a pig. BOA pulling the rug when it has a secured debt against the rebate is a political as well as business act. I am not so sure the SOA will be as cavalier when it sees the dominoes starting to lean. time will tell
spooks3
19/9/2017
23:01
spooks3, the Alaska State has already postponed the repayment of the tax rebate for several oil companies over the past 12 months. So it wouldn't be the first time they do it, if they gave 88Energy the same treatment. Secondly, the tax rebate is not a loan and its nothing the State defaults on. The State of Alaska has already presented it budget for 2018 and the repayment amount of the tax rebate is more or less unchanged from 2017 when they only repaid a fraction of what E&P companies was supposed to recover. Bank of America could potentially extend the maturity of the loan, but I doubt that they will be so kind. If you read the Q2 2017 report, you may notice that Bank of America has withdrawn the available credit 88Energy had left on the $50m credit facility (page 4 hxxp://clients3.weblink.com.au/pdf/88E/01875337.pdf). This is obviously not a great sign.
lowflow
19/9/2017
17:11
kilgallp Sound investing on your part. Holders and those in the know see this as an international oil co with sizeable assets in an oil rich area ...lots of potential. The general market sees it as another penny share (hence the swings).
lobo
19/9/2017
16:28
Well I don't know what's going to happen here, so I sold some of my holding to lock in a small profit, and the remainder running for free.
kilgallp
19/9/2017
15:48
Dave shaving off his beard would definitely be a buy signal.
rossowheels
19/9/2017
15:33
Maybe Dave has shaved off his beard ?
ride daice
19/9/2017
15:27
Hopefully some oil leaked!
rossowheels
19/9/2017
15:18
Something leaked?
h0me
19/9/2017
10:48
spooks3 he didn't say he they would default he said the current BoA loan is due for repayment before the rebate from SOA comes in. If true though I'm sure BoA will extend the loan a bit longer - obviously there will be a cost associated but it won't be much in the scheme of things. I see that as a side story really.
loglorry1
19/9/2017
10:45
Low Any reason why you have ignored guidance given By Dw in the event of a P & A Any reason why you believe that State of alaska will default its debt for a small sum. Sovereign credit rating matches that of the Uk, who has never defaulted on sovereign debt. the credit rating agencies seem disinclined to savage the SOA, which suggests they do not see the SOA as a defaulter any time soon. SOA has thus far no history of defaulting, I suspect/expect this to remain the same.
spooks3
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