88 Energy Share Discussion Threads

[tomford8] 15/1/2020 12:17

88 Energy placing questions answered if you care to listen to the full detailed interview below

Dave Wall managing director of 88 Energy answers shareholders questions on Premier Deal and why also last September placing and why but more importantly timing of any future funding none expected up till Charlie 1 appraisal well is drilled.

[pro_s2009] 15/1/2020 09:20

Yes, fund raise was done in September.

[viku111] 15/1/2020 09:19

Did already completed the fund raising...

[pro_s2009] 15/1/2020 09:08

You can read ECO like a book.........shame a lot of people are blind to it. But hey ho, all we can do is offer opinions.....sometimes right, sometimes wrong.

[diversification] 15/1/2020 09:05

Ok thanks for the info. Looks like you were right on Eco.

[pro_s2009] 15/1/2020 08:51

Yes, they did a raise already......that funds them post well for 2020.

No need for another raise pre-drill at all - its not really a high risk, given the Torok is proven and an appraisal.

We are talking CCOS of 50% in the Torok formation, those lower Stellar targets........

[ginko3] 15/1/2020 08:45

Drilling is already funded to the tune of $23m so why raise more unless you need it

[tomford8] 15/1/2020 08:45

15th Jan 2020

88 Energy says Charlie-1 well is “progressing to plan” ahead of February spud

[diversification] 15/1/2020 08:27

Lots of IF’s, surely a pre-raise would be better for all involved because you can’t bank on an exploration well being successful, that would make this extremely high risk?

[pro_s2009] 15/1/2020 08:21

No fundraise is planned before drilling. DW expects to raise fund after a successful drill at much higher prices.

They have circa 5m USD net to come from the tax rebates - and also PMO want to farm into the other areas if this drill is good.

Also intending to farm out the HRZ if the results there are good.

Everyone hopes next raise will be at around 6p levels post success at Charlie-1 :)

[diversification] 15/1/2020 08:17

Are they still planning a fundraise. Some of the feedback on here just before Christmas from the investor meeting in London suggested one was planned? They could of misheard but it would make sense because if this is a duster they wouldn't want to come out the other side without any cash?

[pro_s2009] 15/1/2020 08:00

Just a progress update - keeping shareholders informed that everything is going to plan.

Cannot knock it.

[diversification] 15/1/2020 07:54

What is different in this RNS to the one in December?

[pro_s2009] 15/1/2020 00:04

Charlie-1 update out today



.

[hotmark] 14/1/2020 22:46

£6.50

[wirraltrader] 14/1/2020 22:41

What's everyone's guess on share price this year ?

[xow98] 14/1/2020 22:13

RNS out

Ice road 25% complete
Permit to drill submitted approval expected Jan 2020
Charlie 1 on plan to spud Feb 2020

[bigsi2] 14/1/2020 16:27

Correct-The final major permit approval expected in January - so any day now

[lgraham86] 14/1/2020 16:06

We just need a bit of an update to push this further big stagnated currently.5 weeks still spud is that correct?

[ginko3] 14/1/2020 13:18

Except of course for POG . . .about as Russian as it gets but still been a good investment for the last few months.

[lgraham86] 14/1/2020 01:33

Yes mate i have learnt my lesson albeit an expensive one il see how badly tomorrowFingers crossed 88e does the biz even at pre spud

[pro_s2009] 14/1/2020 01:31

LGraham86 - As a rule of thumb.......anything Nigeria or Russia on AIM - stay well away from.

As for 88E, Rig Mobilisation expected 27th/28th January - all on course for a mid-February spud date.