88 Energy Share Discussion Threads

[y1phr1] 04/3/2020 08:23

I had to sell 1 million I bought the other day at .97 for good profit just in case there is no oil next week . Still a big holder though for the long term

[mynameiskhan] 04/3/2020 08:21

Torok is 192 mbbls and at $4 a barrel, this is approximately $800m = 8.50p

[pro_s2009] 04/3/2020 08:16

I will post a download link to the Cenkos note later.

[ken chung] 04/3/2020 08:15

How's the latest 'water' well going?Lemmings and mushrooms only.

[pro_s2009] 04/3/2020 08:01

Looks like I have been too conservative with my value estimates.....

I have 5.4p allocated for the Stellar in my table above on mean size, Cenkos in their new note just released have a 6.4p unrisked value for the Stellar.

I should be more rampy.....let me update them all upwards........ LOL :)

[mynameiskhan] 04/3/2020 07:56

That's how market works. During winx drill, when bad news came from SeaBee formation, price was dropped by 40-50%. That's why, need to be careful from secondary zone. But, torok is appraisal and main target. Any discovery in torok is worth over 6-8p

[pro_s2009] 04/3/2020 07:43

Only time will tell. A lot of people are hoping for just that, in order to buy in ahead of the Stellar targets.

So if people are waiting for bad news for a price fall to buy in, generally any price fall is muted as there are more buyers than sellers........

Just have to wait and see.

[mynameiskhan] 04/3/2020 07:40

That's the points. I agree with you that if good oil shows in Indigo & Charlie price will be around 2p but if bad news, then price likely to drop by 30%+ to 0.70p ... And then Lima update as well

[pro_s2009] 04/3/2020 07:12

No idea.........the main targets are the bottom ones........thats all most people are interested in.

The upper targets are just an upside sideshow - expected to fail but a massive bonus if they come in.

[mynameiskhan] 04/3/2020 07:07

What's your prediction if bad news (no oil or non commercial) from indigo?As per DW, indigo and other shallow zones are high risk. These are targeted at sub optimal location ....

[pro_s2009] 04/3/2020 01:37

Looking forward to Indigo news next week Alistair. Based on the low case figures, any decent oil discovery in Indigo should, on initial news, add around 1.5p to the share price, so all being good, might be up around 2.5p levels next week IF, and its a big IF, we get a good oil discovery at the 1st target Indigo.

Exciting times.

[alistair4444] 03/3/2020 23:30

Mostly traders 100% correct & not interested in research...right again Pro

[pro_s2009] 03/3/2020 23:15

Because they are mostly traders who know nothing of the potential.

CEO of PMO has said, as below, Charlie-1 is potentially transformational for PMO.........and then you can appreciate what it would do for 88E !! If its transformational for a much larger company like PMO.




Tony Durrant, Chief Executive, commented:

"Premier's strong operational performance in 2019 has generated significant free cash flow for the Group enabling us to materially reduce our debt levels and to invest selectively in our portfolio for future growth. The Tolmount development is making good progress and will provide a step up in Group production once on-stream at the end of this year. We also look forward to drilling our first well in Alaska, a potentially transformational well for Premier."

[rossowheels] 03/3/2020 18:09

Yes, this well is key to establishing the viability of both the conventional and HRZ plays. It would have to be extremely bad luck if both were to prove uncommercial so my view is that something good will happen which could potentially be tremendous if both come in. It is interesting to note that PMO have no interest in the HRZ.

[david233] 03/3/2020 13:24

Added some yesterday at 1p, perfect timing.

[lithological heterogeneities] 03/3/2020 09:55

Yes, mustn't forget about the shale !

[pro_s2009] 03/3/2020 09:21

Charlie and Indigo next week.

Lima week after.

Stellar week after that.

Then TD and Shale news - then start flow test.


Expect something next week on Charlie and Indigo, first 2 targets of the 8.

[220711samuel] 03/3/2020 09:19

Pro. What are you best estimates on dates for reporting each of the zones? And TD

[pro_s2009] 03/3/2020 09:17

They have put in place testing already, as soon as core samples are retrieved off they go for testing and analysis.

So might be news on the cores just after they finish flow testing.

[viku111] 03/3/2020 09:15

Once drilling of shale is complete..: didn't they say it would take upto 2 months to see / test if this was viable?

[pro_s2009] 03/3/2020 09:10

8 target zones........dont forget the Shale at the bottom.

7 conventional targets plus the HRZ shale at the bottom. The shale is the surprise upside if this well proves its viable.

[y1phr1] 03/3/2020 09:08

Hopefully we will see a 50 percent rise soon

[lithological heterogeneities] 03/3/2020 09:01

We were at 1.45p before the last dilution so its still not good seeing just 1.15p post spud news when i was expecting nearer 2p from a base of 1.45p.

Still, atleast we have finally spudded and with 7 target zones, 4 of them appraisal, and with REGULAR updates as promised by DW as we drill so we should still see 2p+ before we reach TD.

[pro_s2009] 03/3/2020 08:08

The old Icewine well ? Why would they mention it ?

Onwards we go, Charlie-1 is drilling.