88 Energy Share Discussion Threads

[patio58] 26/12/2019 22:40

ASX releaseToday 21:39ASX release 27th December 201988 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") provides the following update related to the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, located on the Central North Slope, Alaska.Highlights• Initial snow trail from Dalton Highway complete• Ice road construction on track to commence within days• Operational activity for Charlie-1 progressing to plan for February 2020 spudOperations UpdateThe Nordic Rig 3 will exit the Dalton Highway approximately 20 miles south of Deadhorse before it begins its 30-mile journey on an ice road to the Charlie-1 location. Construction is complete for the initial snow trail to the first lake that will be utilised for building the ice road. Production of the ice road itself is scheduled to commence prior to the end of 2019, weather permitting.Everything is proceeding as planned ahead of the scheduled February 2020 spud date.88 Energy Managing Director, Dave Wall commented: "It has been a successful year for the Company, having matured part of the conventional potential at Project Icewine to the point of a farm-out that makes a lot of sense for our shareholders. We are now on the cusp of drilling a potentially transformational well, Charlie-1, in the first quarter of 2020 and are looking forward to a safe and successful operation."

[officerdigby] 26/12/2019 22:36

https://wcsecure.weblink.com.au/pdf/88E/02189301.pdf

[joey wilson] 26/12/2019 22:32

News release on ASX if anyone can download it. JW

[pro_s2009] 24/12/2019 11:10

The HRZ could be worth that on its own.

180m market cap ahead of what is probably one of the biggest drills in 2020 - appraisal in some sections at that......should be achievable.

[lgraham86] 24/12/2019 10:59

Think 3p at spud is big ask hope you are right though!

[pro_s2009] 24/12/2019 10:59

Yes indeed, PMO have the option to farm in elsewhere pending results of Charlie-1.

[rodrod1] 24/12/2019 10:58

Alaskan Govt looks all set to issue Bonds so as to honour the tax credits. The Supreme Court has to determine whether or not the objector has a valid argument.

88e will have a stronger looking balance sheet when the tax credit is paid. That will put 88e in a stronger position for the next round of FO negotiations.

[pro_s2009] 24/12/2019 10:48

Ticking up, looks like we should be starting January at over 1p - with a target price at spud of 3p imo.

Oil in the target zones and anything could happen.

[pro_s2009] 24/12/2019 10:38

20m tax credit and 15m debt.......so net positive 5m for 88E once its sorted.

[4sta] 24/12/2019 10:30

Don't we owe most of it to cover the Bank of America drawdown loan anyway?

[rodrod1] 24/12/2019 10:15

Pro.....the same newspaper has just said that the Supreme Court decision is expected 'soon' @ 21/12/19

[pro_s2009] 24/12/2019 10:04

On the tax credit issue the latest update was the Supreme Court head the case in September and now everyone is awaiting the ruling........no timescale as to when the ruling will be made. 88E have circa 20m US$ in tax credits due to them.




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[pro_s2009] 24/12/2019 09:32

A lot of analysts are now projecting 2020 to be a decent year for the energy sector and oil stocks.

2019 was a really bad year, so fingers crossed oil come back into focus in 2020.





Oil stocks have had a mostly miserable 2019, as investors have continued to shun the industry. Energy is the worst-performing sector in the S&P 500 and has continued to lag behind even as oil prices have rebounded in recent weeks.

Some analysts see a rebound in 2020, for several reasons. The companies that produce oil and gas have begun to change their free-spending ways, emphasizing profitability over production growth. Energy stocks now have the highest average dividend yield in the S&P 500, at 3.8%.

Energy needs a new narrative. Production growth has been the story of the recent past, with oil-and-gas output rising steadily in the U.S., leading to an oil glut. Several oil-and-gas producers have cut back on growth plans given concerns about profitability. But next year, production growth is likely to be much slower from the U.S. and other non-OPEC countries, and could go flat or decline slightly the following year. That could remove the fear of oversupply, and bring more stability to the market. Goldman Sachs anaIyst Brian Singer increased his 2020 price target for Brent crude to $63 and $58.50 for West Texas Intermediate, from $60 and $55.50, respectively, “due to more favorable inventories resulting from a deeper than expected production cut by OPEC (we now expect OPEC supply of negative 0.6 million barrels per day year over year versus negative 0.1 million previously).” In 2021, low-cost producers could start increasing drilling again, while maintaining capital discipline. That at least is the bullish story................

[pro_s2009] 24/12/2019 05:38

Wonder if we will get news on the near 20m US$ worth of tax credits due to 88E in January, hopefully its sorted out by Q1.

[lithological heterogeneities] 23/12/2019 17:12

try buying at 1p in february.
try buying at 2p in february !

[rodrod1] 23/12/2019 16:29

Been very modest volume for the ticks down. Vast interest will instantly return once news starts to roll.

[lgraham86] 23/12/2019 16:26

People selling this at under 1.00 pointless

[4sta] 23/12/2019 10:08

Thanks Pro.

[pro_s2009] 23/12/2019 10:06

Expect exactly the same this time, Ice Road commencement probably 6th or 7th of Jan

[pro_s2009] 23/12/2019 10:05

Yes.

Ice road complete in a few weeks, spudded 15th Feb 2019.

[4sta] 23/12/2019 10:02

Was that for a February spud?

[pro_s2009] 23/12/2019 10:01

7th Jan (2019) they started last time.....so nothing to be worried about.

[4sta] 23/12/2019 08:35

Was expecting an RNS stating that they have started construction of the ice roads by now. They seem to be cutting it pretty fine.

[pro_s2009] 20/12/2019 15:25

Poking upwards again :)