88 Energy Share Discussion Threads

[nigoil] 01/12/2023 14:49

We take it you're back in!.. LOL

In a word!...... Pathetic

Simples!...... :-)

[purple11] 01/12/2023 14:04

another massive tick up!

14.9% up now

[purple11] 01/12/2023 14:02

tick up:)

should reach about 120m cap ,.60p in anticipation of results.

easy hold gl

[purple11] 01/12/2023 13:41

MONSTER

xXTiPSXHEEETSXx

88e BUY HOLD ADD

1.4p

[purple11] 01/12/2023 13:40

6 Nov 2023 07:00

RNS Number : 4724S

88 Energy Limited

06 November 2023

This announcement contains inside information

6 November 2023

88 Energy Limited

Hickory-1: Confirmed Discovery

with BFF Maiden Contingent Resource Estimate

Highlights

· Maiden Independent Contingent Resource estimate completed at Project Phoenix for the Basin Floor Fan (BFF) reservoir.

· Gross Best Estimate (2C) Contingent Resource of 250 Million Barrels of Oil Equivalent (MMBOE) from the deepest reservoir encountered in Hickory-1, the BFF, comprised of;

o 136 million barrels (MMbbl)* of recoverable hydrocarbon liquids (Oil and NGL); and

o 628 billion cubic feet (BCF)* of recoverable gas.

· Independently certified Contingent Resource assessment prepared by Netherland, Sewell & Associates, Inc. (NSAI), a leading US based independent consultancy for the petroleum industry.

· Contingent Resources defined on the basis of multiple successful flow tests conducted in the BFF reservoir on adjacent acreage and clear reservoir continuity demonstrated through high quality seismic data and correlations across Hickory-1 and Icewine-1 to the neighbouring successful wells.

· Assessment carried out by NSAI confirms discovery status for the BFF reservoir prior to planned testing operations at Hickory-1.

· Key step towards the understanding of the hydrocarbon volumes in of Project Phoenix prior to Hickory-1 testing operations. If successful, these operations will allow additional contingent resources to be assigned to the shallower SMD-B and SFS reservoirs.

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to report a maiden, independently certified Contingent Resource estimate of 136 MMbbl of hydrocarbon liquids (gross best estimate (2C)) and 628 BCF of gas, for the BFF reservoir in Project Phoenix (~75% net working interest).

* Gross (100%) best estimate contingent resource. Natural Gas Liquids (NGL's) are converted to oil equivalent volumes on a constant ratio basis of 1:1. Gas is converted to oil equivalent volumes on a constant ratio basis of 5.5 BCF per 1 MMBoe.

Managing Director, Ashley Gilbert, commented:

"This maiden Contingent Resource is a great result for 88E and its shareholders. It represents an important milestone on the path to the possible development of Project Phoenix, even prior to flow testing operations at Hickory-1 this upcoming season.

We look forward to the upcoming planned Hickory-1 flow tests which, if successful, will enable the certification of additional contingent resources in the shallower reservoirs and move another step closer to appraising the discovery. We remain on track for Q1 2024 operations for this exciting project."

NSAI's maiden Independent Contingent Resource Report was completed after its review of an extensive data suite that included seismic data, well logs from Hickory-1 and Icewine-1 and certain data from wells in adjacent acreage including

[purple11] 01/12/2023 13:38

Back in

let the games commence!!gla

[mynameiskhan] 30/11/2023 12:12

That's true, but what will happen on success case ?

[purple11] 30/11/2023 09:49

anyway im glad i got out of here at .35 at breakeven

.20 to sell just now......

[purple11] 30/11/2023 09:48

but are they?the flow testing at 88e may not be successful in which case the shares are worthless.
obviously if the flow testing is successful they will likely 3 or 4 bag.but there is quite alot of risk involved.

PPP has a 100% success rate so far in its workovers.

[mynameiskhan] 29/11/2023 08:12

What's the 2C resource of PPP ? Probably, that's where the main difference is.88E probably be looking to derisk over 600 mbbls of recoverable oil and additional oil from Upper SFS. Based on PANR valuation of $5-10 a barrel, this is going to worth $3 billion or so.

[nigoil] 29/11/2023 07:38

That nasty smell just doesn't seem to want to go away, I wonder why?.. LOL

88e Strong Buy!

Simples!...... :-)

[purple11] 29/11/2023 04:45

forget this

take a look at PPP

2m cap v low shares in issue.100%success rate with wells so far.

news in december.

expect it to rerate to 5-6m cap shortly.

[rossowheels] 28/11/2023 10:22

A consolidation would make the share less attractive to those who believe that a sub penny share has more potential to grow...

[regandharry5] 28/11/2023 08:36

Is.it time to think about a share consolidation before we can't count as high as the shares issued

[nigoil] 28/11/2023 07:55

Enter the traders!..... LOL

Simples!...... :-)

[bigboots] 28/11/2023 07:41

Long, long winter ahead at 88E - This is going nowhere until at least March, when this will drift to around 0.20

[nigoil] 28/11/2023 07:21

Excellent news!

It's the right thing to do at this moment in time, we applaud the management for being proactive before the flow test and just incase Burgundy default, it sends a powerful message! It's a win win.......

Ignore the traders, there are massive amounts of money to be made from here!

Fill ya boots!

Simples!...... :-)

[purple11] 28/11/2023 07:06

you can wait for what you like

but you get is....a dilutive placing.

these guys love their confetti machine.

[2dinvestor] 28/11/2023 07:05

Spot on Purps.

[rossowheels] 27/11/2023 16:44

That's probably where they were going wrong up to now!

[purple11] 27/11/2023 10:45

drifting downwards as expected.....

[wildhorses] 27/11/2023 09:02

When is the rig due? Next year?

[nigoil] 13/11/2023 17:43

" more jam tomorrow junk"

WE see you're still interested, hanging round like a bad smell!.. LOL

Great move by 88e, the stars are aligning! Who wouldn't be interested! Obviously lots happening behind the scenes pre flow test!

88 Energy nets bullish price target following Namibia expansion
Published: 15:59 13 Nov 2023

Cavendish analyst James McCormack has reiterated a bullish price target for 88 Energy pLtd of 1.1p against a 0.35p publication price.

It follows 88 Energy’s first foray into Namibia in a notable expansion of the oil and gas exploration and production company’s footprint.

The group signed a deal with Monitor Exploration to earn up to a 45% non-operated working interest in Petroleum Exploration Licence 93 (PEL 93), onshore Namibia.

“The attractive phased deal structure provides 88 Energy with optionality to increase its working interest following key operational milestones, limiting both risk and financial exposure,” noted McCormack.

He continued: “PEL 93 shares the same high impact, large-scale discovery potential as the North Slope of Alaska, with Monitor identifying ten independent structural closures with an aggregate prospective resource of 7.6 billion bbls in the oil case and 32.7Tcf in the gas case (both unrisked).”

The forward work programme involves the acquisition of low-impact 2D seismic to derisk the project ahead of an initial exploration well.

This is planned for as early as the second half of 2024, McCormack said.

Simples!..... :-)

[purple11] 13/11/2023 16:14

more jam tomorrow junk