88 Energy Share Discussion Threads

[pro_s2009] 24/1/2020 07:05

Only down in Oz as they had the trading halt and so the price opened high compared to the last closing price. London now lower than Oz so should be a blue day.

[bigsi2] 24/1/2020 06:52

Possibly- the share price did drop initially and still closed down 4% on the day.I think it could drop here before recovering - 1.1p was a hefty discount

[pro_s2009] 24/1/2020 06:01

Closed at 1.3p in Oz.

Should be a blue day ahead in London.

[pro_s2009] 24/1/2020 03:25

Stock was placed at 2.1 cents...... its now 2.45 cents...... which means that really, the only moves are upwards now.

Company has a stronger balance sheet which means post well slightly less risk and also in a better position for more farm out discussions and a stronger price rise on success.

[pro_s2009] 24/1/2020 03:19

Dont think so.

ASX mid price is now 1.3p.

We had massive volume on the day of the news earlier this week, should be lots of blue days ahead as those who sold the news now have to hurry up and buy back in before the price now pushes up to 2p levels in the weeks ahead.

[gooner1886] 24/1/2020 03:00

Could be a over hang though for a week or so, share price will be hit on open imo again. We shall see...

[pro_s2009] 24/1/2020 02:53

ASX price is back up to 2.4 cents AUD which is 1.3p.

If the 88E ASX price closes 2.4/2.5 then London will have a blue day today to catch up.

[gooner1886] 23/1/2020 23:12

Kills momentum, but new shareholders willWant value for thier money should still rise considerable before spud

[lithological heterogeneities] 23/1/2020 23:05

1.1p. pathetic.If they waited till the middle of drilling they could have easily raised at nearer 2p.Absurd timing. Totally unnecessary before the drill .

[xow98] 23/1/2020 23:01

RNS

A$5m at A0.021c

[gooner1886] 23/1/2020 23:00

Apparently placing was at 1.10

[atticusfinch1] 23/1/2020 18:35

That contribution was almost as helpful as mine...

[wolansm] 23/1/2020 17:08

I've never understood why the company never went for the conventional first ?

[tomford8] 23/1/2020 15:42

If you are interested in Charlie 1 Alaska then listen to the interview below its the best and most comprehensive you will ever hear anywhere 1 hour 13 mins long.

88 Energy presentation 29th November 2019

Reading these reports from the presentation confirms what my views were, or perhaps I'm just suffering confirmation bias! Focus of Charlie is squarely on the conventional and the quick foray into the HRZ is purely opportunistic to test revised theory on the HRZ. The answer to the test will be either HRZ dead on the scene, or HRZ worthy of being further delineated and appraised with additional wells on the acreage (dollars and years).

But the focus is on conventional, and the primary targets are the 3 stellar intervals in the Torok, just above the HRZ. Secondary targets are the Indigo and Charlie intervals in the Schrader topset. The two Lima intervals in the Seebee (between the Schrader and the Torok), are tertiary targets as the well will only just nick the intervals identified in seismic. I suspect, all we are looking for in the Seebee, is enough evidence to justify further later wells that target these intervals. But the Torok and perhaps the Schrader is where we are appraising what has been determined to be a historical discovery, and will ideally look to flow test vertically in 2020 and horizontally in 2021.

It sounds that a drill that will be considered successful at every stage would confirm and flow test Torok and Schrader accumulations, identify sufficient promise (in oil shows) in the Seebee to justify further/later appraisal, and validate the HRZ as being in the sweet-spot in the middle of IW-Area A. But we may only get some of this or none of this.

Whatever results we get, further capital raise will likely be required, even in the most optimistic scenario outlined above. Will need money for 30% of 2021 drilling activity to horizontal flow test Charlie plus 100% of funds needed to keeping the corporate lights on till then. May need money to delineate the Torok and Schrader intervals (in success scenario) before anyone willing to bay $3 per bbl for the find/s. Of course we would only be up for 30% of those costs. May also need money to fund 30% share of further wells, if indicated and justified, to prove any Seebee indications identified from Charlie. And of course we need money to fund any further HRZ work, if HRZ is not declared dead at Charlie. I suspect 100% of forward work until considered a viable candidate for farming out.

We may also need money to contribute our WI share of costs to shoot seismic on Area B and/or C - for conventional.

So further CR seems obvious. Especially if we have success at Charlie, but also if we do not. What is not obvious is how much and at what price. Charlie will be a major determinant of that.

For this shareholder, it is becoming clear that the full journey could still be quite long and that, for me, it is high time I look at my investment not so much as a single asset, but as a number of assets....each with different exit triggers (event based rather than price based).

Thanks to Lazarus65 for post above on Hotcopper talking about the London Presentation on Charlie 1 given informally by 88 Energy November 29th 2019.

Presentation link 1 hour 13 minutes

[atticusfinch1] 23/1/2020 06:57

Don't know what happened there thought I'd posted that yesterday morning...

[lgraham86] 22/1/2020 23:59

You are a day late mate

[atticusfinch1] 22/1/2020 23:45

https://www.asx.com.au/asxpdf/20200122/pdf/44dfh9r1d9kqw0.pdfTrading halt on ASX pending news on capital raising.

[iamgreat1] 22/1/2020 16:27

Placing shares have been dumped into market for a few days so the placees are happy

[lgraham86] 22/1/2020 16:23

My Average is 0.92 mate how you work that out im just sayin the situation as i see it, run along

[saint in exile] 22/1/2020 16:22

You're going to be a nervous wreck Graham mate.You're already up to high doe! lol

[lgraham86] 22/1/2020 15:54

Just hope there no issues with the drillOr any delay. Finger crossed

[rodrod1] 22/1/2020 15:48

I think the deal has already been done and dusted. We will know 10pm when ASX release news that 88e readmitted