88 Energy Share Price (88E)

Share Name Share Symbol Market Type Share ISIN Share Description
88 Energy LSE:88E London Ordinary Share AU00000088E2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.05p +5.26% 1.00p 0.95p 1.05p 1.05p 0.95p 0.95p 14,378,523 08:16:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -5.5 0.0 - 46.48
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Shell A (RDSA), BP (BP.), Path Investmen. (PATH), Spitfire Oil (SRO)

88 Energy (88E) Latest News

88 Energy News

Date Time Source Headline
21/9/201711:05UKREG88 Energy Limited Second Price Monitoring Extn
21/9/201711:00UKREG88 Energy Limited Price Monitoring Extension
21/9/201710:36ALNC88 Energy Forced To Shut-In Icewine#2 Well Due To Arctic Weather
21/9/201707:11ALNCFAlliance News Flash Headline
21/9/201707:06UKREG88 Energy Limited Project Icewine Operations Update
12/9/201712:48ALNC88 Energy Says More Flow Testing Required At Icewine Well In Alaska
12/9/201707:01UKREG88 Energy Limited Project Icewine Operations Update
04/9/201708:47ALNC88 Energy Restarts Icewine Well Flow Testing In Alaska
04/9/201707:00UKREG88 Energy Limited Project Icewine Operations Update
24/8/201710:57ALNC88 Energy Icewine-2 Flow Testing To Recommence Next Week
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88 Energy Forums and Chat

Date Time Title Posts
26/9/201708:0988 Energy - Project Icewine - Billion barrel oil prize14,211
26/9/201707:4288e Long Term Investors Group42
22/9/201707:1788E is all bullshit. Beware of the rampers. 88E22
22/9/201707:1488E Remember Tangier BEWARE8
22/9/201707:13Thoughts1,326

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88 Energy (88E) Top Chat Posts

DateSubject
25/9/2017
09:20		88 Energy Daily Update: 88 Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker 88E. The last closing price for 88 Energy was 0.95p.
88 Energy has a 4 week average price of 0.88p and a 12 week average price of 0.88p.
The 1 year high share price is 4.25p while the 1 year low share price is currently 0.88p.
There are currently 4,648,463,932 shares in issue and the average daily traded volume is 190,047,035 shares. The market capitalisation of 88 Energy is £49,970,987.27.
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10/9/2017
16:48		ronjoe77: ok i hate this but needs to be told 1/this is a test well and 88e wont tell you, you the guts of it. 2/its not for u. 3/all the data from this well is not for you. 4/ 88e is not your friend DW/PB its just the way it goes 5/just cos you think you have 5/10k in this you think you have the insight. 6/ you have jack 7/the best thing u can do in AIM is get a we win and move on 8/if you think 88e is going to make you loads .its not the share price will sit at this price for many years a bit like sxx,
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10/7/2017
17:44		jenny tulwought: Latest Proactive Investors 88 Energy shares drop, but the sky has yet to fall for the Alaska explorer Share 14:53 10 Jul 2017 Investors will have six weeks of uncertainty before they'll know whether Monday's share price drop was an overreaction. [ 88 Energy is shutting the Icewine-2 well for six weeks Looking at the near 40% drop in 88 Energy Ltd (LON:88E) share price on Monday, July 10, one might be forgiven for thinking that the sky had fallen for the Alaska-focused shale explorer. The share price fall to 1.7p, from 2.75p, presents a palpable panic among investors as the company confirmed it would delay the programme in the Icewine-2 well for a period of six weeks - to hopefully allow pressure to build and to advance to the well to its planned production testing programme. It is a course of action that the AIM-quoted company had previously hinted may be necessary, but that warning was seemingly not enough to stop the shock to the 88 Energy share price. Investors will now have to wait and see what comes of the Icewine-2 well. Brendan Long, analyst at WH Ireland, in a note, said the “tough question” the company needs to answer is whether the problem at Icewine-2 is the result of well-specific issues - related to the well’s completion and the maiden fracking in the HRZ shale - or whether it raises a wider concern for the shale resource as a whole. The pre-frack assumption was wrong Prior to the fracking programme in the Icewine-2 well, 88 Energy had thought it was addressing two separate shale reservoir zones, however, a slow rate of frack fluid recovery led the company to believe that the two zones were in fact connected. Since then, the company has continued the process of recovering fracking fluid. By Monday, only 16% of the fracking fluid had been recovered, and no hydrocarbons were measured. According to Long, the initial findings bode badly for 88 Energy. In a note the analyst said: “the low return of frack fluid is inconsistent with a highly productive well and the lack of oil or gas is surprising.” Is it just part of a steep learning curve? It remains to be seen whether the delay is a red-flag against the project, or whether in the passage of time it will be chalked up as part of the learning process in what remains an unchartered shale play. One thing speculative investors can bank on, however, is the fact that they won’t be making a quick buck on this project. The project, if it eventually proves successful, remains in its infancy, and plainly the company has much to learn as it tries to unlock an estimated 1bn-plus barrel prize. In recent weeks the AIM-stock has benefitted from ‘trigger chasing’ speculative buys. The price rose to as high as 4p, on June 21, from around 2.5p previously at the start of this year. That the price has took such a big hit on Monday, without a decisive result, shows that the stock is now swimming against a somewhat fickle and transient tide. A new potential timeline will, meanwhile, see the well re-opened presumably at the end of August and therefore the results are likely to known shortly thereafter – in sync with the typical post-summer step-up of activity across the market. It means it is likely to be a significant and pivotal autumn for 88 Energy as well as the investors that keep faith and stick with company over the coming weeks. Icewine-2: the story so far. 88 Energy announced the start of a new well programme in April. The Icewine-2 appraisal well was designed to confirm the geological findings of the first well, which had confirmed the presence of hydrocarbon bearing HRZ shale. Success with the Icewine-1 well provided the basis of some big and potentially valuable resources. That first well had laid out a whole new US shale play and, buoyed by the success, 88 Energy moved quickly to significantly expand its footprint in the surrounding area. With Icewine-2, the idea was to take the important next steps of fracking and flow testing the HRZ shale. The intention is to prove that the potentially vast oil resource could be accessed and extracted, at commercially viable rates. It is a litmus test for the HRZ’s future. Icewine started well By mid-May, everything appeared to be going to plan. The company reported to the market that it had completed the drilling phase. The vertical well was drilled on schedule and without incident, the company said. In early June, the company informed investors that it had gained enough insights in to the stress profile and pore pressure of the HRZ shale that it could proceed to the fracking phase. At that time, it added that the fracking would test whether complex artificial fracture systems can be created within the HRZ via the proposed stimulation. A June 19 update informed investors that the first of two planned stages of fracking in the Icewine-2 appraisal well had been completed successfully – with 100% of the intended fluid volume injected into the zone. The next day, it was confirmed that the second stage was complete after more than 90% of the intended frack fluid injected into the other zone. Something wasn’t right By the time that 8% of all the fracking fluid had been recovered, the company came to the conclusion that the two zones were ‘in communication’. It was, therefore, decided that the plug between the two zones ought to be drilled out. After that, flow-back operations continued. On June 26, at which point some 16% of fluid had been recovered, 88 Energy managing director Dave Wall said: “Given that we are breaking new ground in relation to the HRZ formation, we need to establish the conditions under which the hydrocarbon cut will return and then increase. “The stimulation was executed precisely as per plan with over one million lbs of proppant placed into the formation. A little patience is now required as we give the rocks time to show us what they can deliver.” Time out now planned At the time of the Monday July 10 announcement, some 16% of the fracking fluid had been recovered. “After analysing the performance of the well to date, and comparing to results from other plays, a decision has been made to shut the well in for six weeks to allow for pressure build up and imbibition to occur,” the company told investors. “Imbibition (or soaking) has proven to be effective in other plays by allowing frack fluid to be absorbed, displacing in-situ water that may be blocking hydrocarbon molecules from being able to flow through the reservoir.” Following the shut-in period, the well may then be swabbed (a process of mechanically lifting oil), it added. “Further analyses are required to determine the impact, if any, of the performance of the Icewine-2 well on the probability of success for the HRZ play at the Franklin Bluffs location and over the wider acreage position,” the company said. The Icewine-2 well will be in ‘time out’ for a period of six weeks. A conventional plan ‘B’ Would all be lost for 88 Energy if the HRZ shale doesn’t produce? No, not quite. It is true that the Icewine wells are responsible for a very significant proportion of the stock’s £130mln market valuation, and, shale has been the group’s stated priority. But, the explorer has also identified a meaningful conventional portfolio of prospects. In late 2016, it told investors that a range of preliminary leads have now been identified as part of its conventional oil exploration programme. It said that the forward work programme will mature prospects and leads, and high-grade the best ones into candidates for future drilling. Later, in January, the company completed its assessment of Project Icewine’s conventional oil potential. It saw almost 1.5bn barrels of resources across its inventory on Alaska’s North Slope. The resource assessment was based on 2D seismic data. A total of fifteen exploration leads were identified through the process. It means there’ll be some alternative options left on the drawing board, should the eventual Icewine-2 results lead to the kind of worst-case scenario to trigger a strategy re-think.
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19/6/2017
20:08		boobly: Clearly there is an increasing interest ; a rising share price , and a lot of new posters on this and at least three other sites that I watch . Quite right wolansm , the share price will respond positively to Company objectives achieved . So far the Management of this Company has been outstanding in it`s achievements and in particular maintaining a timely honourable dialogue with its shareholders . Very rarely do you find such an absolutely exceptional achievement for any AIM Company , so it`s hardly surprising to find interest increasing , especially with only a few weeks before they might just report transformational news regarding the flow data and potential for commercialisation . imo.
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16/2/2017
07:07		1i1i1i: 88 Energy Limited ASX Lodgement of Annual ReportSource: UK Regulatory (RNS & others)TIDM88ERNS Number : 0255X88 Energy Limited16 February 201716 February 201788 ENERGY LIMITEDASX LODGEMENT OF ANNUAL REPORT88 Energy Limited (ASX:88E; AIM:88E)("88 Energy" or "Company") advises that a copy of the Company's Annual Report for the year ended 31 December 2016 has been lodged on the ASX and is also available on the Company's website at www.88energy.com. The Annual Report was sent to shareholders today.Set out below is the Chairman's Statement as included in the Company's Annual Report.Also set out below is a summary of the Company's audited financial information for the year ended 31 December 2016 as extracted from the Annual Report, being:Consolidated Statement of Comprehensive Income;Consolidated Statement of Financial Position;Consolidated Statement of Changes in Equity; andConsolidated Statement of Cash Flows.CHAIRMAN'S STATEMENTDear ShareholdersIt is a pleasure to present my Chairman's Report for the 2016 financial year.2016 marks only the second year in which your Company has traded under the 88 Energy ("88E") banner. I am pleased to report some significant milestones have been achieved as 88E progresses along the pathway leading to appraisal of Project Icewine on Alaska's North Slope. These milestones are detailed in the Operations Report.Measuring success for a junior explorer is a complex process. Year on Year the market capitalisation of 88E has grown from around $25 million to $188 million and the Company has been cited as the best performing oil and gas stock based on share price appreciation on the ASX during this period.As we move into the appraisal drilling phase we do so with a strong balance sheet and high level of project equity providing excellent leverage to our shareholders in the success case. This begs the question "what are the hallmarks of a successful junior explorer?" With over 3 decades in the industry I am well placed to address this question.Geologists love to base their exploration models on successful analogues just as we have done in drawing comparisons to the Eagle Ford and the Haynesville shales Texas, USA. This makes good sense, however we can look beyond the geological modelling and seek to identify what constitutes a successful analogue at the entity level. I have always considered Hardman Resources (HDR) as the flagship analogue when measuring success in the junior oil space.Some of you will be familiar with its history: this tiny oil explorer went from a market capitalisation of $10 million dollars around the turn of the century to $1.5 billion dollars in 2006 with accompanying share price appreciation from 4 cents to $2.36. Interestingly, the oil price at the time of its maiden offshore discovery was a mere US$28.80 per barrel.Leaving aside the fundamental geology, the key attributes of this historical success story included; leadership with both vision and drive, first mover advantage, attractive regime, meaningful prospect volumes, high project equity over oil prone play type, operatorship, dual ASX and AIM listing, strong financial credentials and farm out capability.It is my conviction that 88E has many, if not all of these same attributes; in particular the strong leadership capabilities that have been exhibited to date by our Managing Director, David Wall. We are clearly the first mover over this unconventional play type on Alaska's North Slope; our potential has been independently evaluated in excess of a billion barrels; we control the play; enjoy high project equity and acreage along with operatorship; and our balance sheet is strong.The science behind Project Icewine was originated by Paul Basinski, a geoscientist with an enviable track record in unconventional oil exploration. 88E is backing his proposition that Alaska hosts vast undiscovered potential in an unconventional play targeting the HRZ shale which shares a common source rock with the Giant Prudhoe Bay oil field, the largest conventional field ever discovered in North America. The Project is located in a prolific oil producing region where 88E has assembled a land bank that would befit an oil major, many of whom are already engaged in successful conventional oil exploration in Alaska, as recent discoveries in the region attest.Alaska is a supportive regime that encourages exploration, offering rebates up to 85 percent for every dollar spent prior to 2016; an incentive that was not only attractive to 88 Energy but one backed by Bank of America (BOA). This has enabled 88E to maintain leverage without the larger equity dilution normally associated with funding a program of this magnitude. Our strong acreage position is further enhanced due to the proximity of the all-weather Dalton Highway and the ability to connect into the trans-Alaska pipeline that can handle up to 2.1 million barrels per day and has considerable spare capacity.The funding and execution of Project Icewine is being overseen by our Managing Director, David Wall, with the assistance of a small dedicated team including our Exploration Manager Elizabeth Pattillo, our Alaskan based Operations Manager, Erik Opstad and the full support of my fellow Directors. To date, the results speak for themselves and back up the early prognosis that formed the basis of our original investment decision. I would also like to welcome our new Chief Financial Officer, Ashley Gilbert, to the team, a Chartered Accountant with more than 20 years' experience in commerce and significant experience in the oil and gas sector.The process of evaluation is ongoing and not without considerable risk; however, we look to the future with measured optimism as we unlock both the conventional and unconventional potential of our Alaskan exploration acreage. One only needs to compare this program with better known shale plays in Texas, like the Eagle Ford and Haynesville, to gain an appreciation of the impact that successful exploration can have on 88E as oil prices recover.Before closing I would like to thank the Department of Natural Resources, the Alaska Oil and Gas Conservation Commission; the North Slope Borough and other regulatory agencies that have facilitated our exploration effort in the State.My fellow Directors and I acknowledge David and his staff for their sterling efforts in managing 88E's exciting Alaskan program on a tight budget and timeframe. Their efforts have resulted in 88E turning in the best performance of a junior oil explorer on the ASX in 2016. Indeed, there is little more 88E could have done in the lead up to the appraisal program than what has already been achieved. We should recognise this point as we move forward to the drilling of Icewine #2.In turn, this progress would not be possible without your support as shareholders in what has been a challenging environment. Our dual listing on both ASX and AIM has garnered a wide investor base and we have been ably supported by our brokers and advisers including Hartleys, Cenkos and Patersons.We look forward to a successful 2017 appraisal program at Project Icewine.Yours faithfully,Michael EvansNon-Executive ChairmanCONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER CONSOLIDATED INCOME Note 2016 2015 $ $ Revenue from continuing operations Other income 3(a) 158,627 108,852 Administrative expenses 3(b) (2,278,431) (2,921,653) Occupancy expenses (169,301) (164,629) Employee benefit expenses 3(c) (1,295,150) (491,828) Share-based payment expense 18 (100,000) (1,723,534) Depreciation and amortisation expense (8,232) (15,038) Finance cost (1,702,878) (689,503) Other expenses (4,790,093) (407,379) Foreign exchange gains / (losses) 784,194 - ----------- Loss before income tax (9,401,264) (6,304,712) Income tax expense 4 - - -------------- ----------- Loss after income tax for the year (9,401,264) (6,304,712) -------------- ----------- Other comprehensive income for the year Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations 440,218 383,900 -------------- ----------- Other comprehensive income / (loss) for the year, net of tax 440,218 383,900 -------------- ----------- Total comprehensive loss for the year attributable to members of 88 Energy Limited (8,961,046) (5,920,812) -------------- ----------- Loss per share for the year attributable to the members of 88 Energy Limited: Basic and diluted loss per share 5 (0.003) (0.002) The Consolidated Statement of Profit or Loss and Other Comprehensive Income should beread in conjunction with the notes to the financial statements.CONSOLIDATED STATEMENT OF FINANCIAL POSITION Note 2016 2015 $ $ ASSETS Current Assets Cash and cash equivalents 6 27,303,178 9,604,249 Trade and other receivables 7 312,644 463,601 -------------------- ------------ Total Current Assets 27,615,822 10,067,850 -------------------- ------------ Non-Current Assets Plant and equipment 8 6,131 10,960 Exploration and evaluation expenditure 9 38,227,059 25,403,611 Other assets 10 11,158,742 994,687 ------------ Total Non-Current Assets 49,391,932 26,409,258 ------------ TOTAL ASSETS 77,007,754 36,477,108 -------------------- ------------ LIABILITIES Current Liabilities Trade and other payables 11 6,127,943 4,003,386 Provisions 12 90,085 55,388 Total Current Liabilities 6,218,028 4,058,774 ------------ Non-Current Liabilities Borrowings 13 22,779,313 10,930,281 Total Non-Current Liabilities 22,779,313 10,930,281 -------------------- ------------ TOTAL LIABILITIES 28,997,341 14,989,055 -------------------- ------------ NET ASSETS 48,010,413 21,488,053 -------------------- ------------ EQUITY Contributed equity 14 125,157,965 90,654,560 Reserves 15 16,268,985 14,848,766 Accumulated losses (93,416,537) (84,015,273) ------------ TOTAL EQUITY 48,010,413 21,488,053 -------------------- ------------ The Consolidated Statement of Financial Position should beread in conjunction with the notes to the financial statements.CONSOLIDATED STATEMENT OF CHNAGES IN EQUITY Shares Reserved Issued for Share Accumulated Capital Plan Reserves Losses Total Equity $ $ $ $ $ ------------- ------------ ----------- ------------- -------------- At 1 January 2016 90,654,560 - 14,848,766 (84,015,273) 21,488,053 ------------- ------------ ----------- ------------- -------------- Loss for the year - - - (9,401,264) (9,401,264) Other comprehensive income - - 440,218 - 440,218 ------------- ------------ ----------- ------------- -------------- Total comprehensive income/(loss) for the year after tax - - 440,218 (9,401,264) (8,961,046) Transactions with owners in their capacity as owners: Issue of share capital 37,496,660 - - - 37,496,660 Shares cancelled - - - - - Share-based payments - - 980,001 - 980,001 Share issue costs (2,993,255) - - - (2,993,255) ------------- ------------ ----------- ------------- -------------- Balance at 31 December 2016 125,157,965 - 16,268,985 (93,416,537) 48,010,413 ------------- ------------ ----------- ------------- -------------- At 1 January 2015 67,985,300 (1,667,500) 12,741,333 (77,710,561) 1,348,572 ------------- ------------ ----------- ------------- -------------- Loss for the year - - - (6,304,712) (6,304,712) Other comprehensive income - - 383,900 - 383,900 ------------- ------------ ----------- ------------- -------------- Total comprehensive income/(loss) for the year after tax - - 383,900 (6,304,712) (5,920,812) Transactions with owners in their capacity as owners: Issue of share capital 24,538,797 - - - 24,538,797 Shares cancelled - 1,667,500 - - 1,667,500 Share-based payments - - 1,723,534 - 1,723,534 Share issue costs (1,869,537) - - - (1,869,537) ------------- ------------ ----------- ------------- -------------- Balance at 31 December 2015 90,654,560 - 14,848,766 (84,015,273) 21,488,053 ------------- ------------ ----------- ------------- -------------- The Consolidated Statement of Changes in Equity should beread in conjunction with the notes to the financial statementsCONSOLIDATED STATEMENT OF CASH FLOWS Note 2016 2015 $ $ Cash flows from operating activities Payment to suppliers and employees (3,676,801) (4,082,521) Interest received 54,248 24,995 Finance costs (4,867) (599,501) Other income 129,812 - Net cash flows used in operating activities 6(b) (3,497,608) (4,657,027) ------------ ------------ Cash flows from investing activities Payments for exploration and evaluation activities (25,588,985) (21,941,810) Payment for plant and equipment (3,404) (2,408) Net cash flows used in investing activities (25,592,389) (21,944,218) ------------ ------------ Cash flows from financing activities Proceeds from drawdown of facility 10,621,424 10,930,280 Proceeds from issue of shares 37,367,107 26,339,541 Share issue costs (1,983,702) (1,869,537) Net cash flows from financing activities 46,004,829 35,400,284 ------------ ------------ Net increase/(decrease) in cash and cash equivalents 16,914,832 8,799,039 Cash and cash equivalents at the beginning of the year 9,604,249 805,210 Effect of exchange rate fluctuations on cash held 784,097 - ------------ ------------ Cash and cash equivalents at end of year 6(a) 27,303,178 9,604,249 ------------ ------------ The Consolidated Statement of Cash Flows should beread in conjunction with the notes to the financial statementsDavid WallManaging DirectorCOMPETENT PERSONS STATEMENTPursuant to the requirements of the ASX Listing Rules Chapter 5 the technical information and resource reporting contained in this Annual Report was prepared by, or under the supervision of, Mr Brent Villemarette, who is a Non-Executive Director of the Company. It has been produced for the Company, and at its request, for adoption by the Directors. Mr Villemarette has more than 30 years experience in the petroleum industry and is a qualified Reservoir Engineer who has sufficient experience that is relevant to the style and nature of the oil prospects under consideration and to the activities discussed in this document. He has consented to the inclusion of the petroleum prospective resource estimates prepared by DeGolyer & MacNaughton (as of 31 December 2015) and supporting information being included in this announcement in the form and context in which they are presented. His academic qualifications and industry memberships appear on the Company's website and both comply with the criteria for "Competence" under clauses 18-21 of the Valmin Code 2005. Terminology and standards adopted by the Society of Petroleum Engineers "Petroleum Resources Management System" have beenapplied in producing this document.Media and Investor Relations:88 Energy Ltd Dave Wall, Managing Director Tel: +61 8 9485 0990 Email: admin@88energy.com Finlay Thomson, Investor Relations Tel: +44 7976 248471 Hartleys LtdDale Bryan Tel: + 61 8 9268 2829Cenkos SecuritiesNeil McDonald/Derrick Lee Tel: +44 131 220 6939This information is provided by RNSThe company news service from the London Stock ExchangeENDFR MMGMZVVLGNZG(END) Dow Jones NewswiresFebruary 16, 2017 02:00 ET (07:00 GMT)
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13/9/2016
05:56		grannysnuffs: this was from a guy who was there, and posted on lse, so yeas bud i did read it, On the train back from London so here goes... buzzing with the long term prospects here. Very impressive event, well done to Tim & Graham. I didn't linger for drinks and canapes as I need to get home. Maybe next time when we're in double figures... ;) It was hugely useful to have attended this event and I learnt a lot from it. In some ways it's not new information, because obviously that would have to be RNS'd for equality. But really the benefit was in the 'colouring in' or joining the dots between the information that has been RNS'd, or just plain educating of non-oil experts! It's clear that the RNSs only show the very tip of the iceberg when it comes to technical data, PB reeled off so many different tests and correlations that they've been running that my head began to spin. Essentially it's all maths and physics, that is being cross-referenced against a huge wealth of existing data from other oil plays to try and figure out what we've got. All of this data is being worked on by a team of experts in Houston and then cross checked and essentially stress tested to see if anyone can break it. Most significant of these tests was done by Ken Peters at Stanford: https://earth.stanford.edu/kenneth-peters. Ken was behind Great Bear's choice of acreage to the north of Icewine. It seems as though got it wrong by 25 miles, because the sweet spot for shale is under our acreage, not theirs. So if anyone had an axe to grind about disproving the Icewine play, it would be Ken. But he can't, because the data says we've got one hell of a reservoir. DW 'once in 10-15 year reservoir, the other being Eagle Ford'. My overriding impression is that I think we're in great hands. There is an obvious chemistry between Dave and Paul. Their experience is fantastic. PB the wacky genius who dares to believe the impossible. DW the business mind who will get us the best bang for our buck. Staley brings the experience of having done it all before (on a smaller scale!) with Cove. Setting expectations is probably the most important thing any LT investor can do after this event, so here is the first one: DW was at pains to point out that news on the bigger seismic patch was not due in 4 weeks. It would be 4-8 weeks. What would this tell us? Essentially the 2D gives us leads to follow up on with 3D at a later date. But crucially it will allow a preliminary volumetric assessment of conventional oil potential. If Great Bear and Otto have success in their January drill for conventional oil (as detailed in their recent presentation), then DW reckons we will see significant benefit to our share price. Conversely, if they have a duster, we'll feel that too, as the value of our 'conventional backstop' will be slashed. Currently I don't think we have any value for our 'conventional backstop' so I'm assuming this will be coming in the 4-8 week window... interesting times. Talk of an IRR after the 2D RNS was a little muted, there was some follow up questioning about this but it was really around the unconventional, not conventional. That's not to say there won't be a new IRR, but it was left a little vague I felt. It's worth pointing out that the conventional and unconventional can be thought of as two completely different technical and financial challenges, with different timescales too. Conventional is on a longer timescale because if we see any juicy 2D leads, we'll need to 3D them, but that wouldn't happen until winter 2018 (Jan - May) and any drills would be done the following year, 2019. Back to the relatively near term and the unconventional, and Icewine 2. Oh boy, this will be exciting... Spud in March and flow testing until July, so don't get your expectations set solely for March news. One of the big things DW wanted to clear up was why a vertical well and frac was better now than a horizontal. Going horizontal immediately (as previously expected) was really missing out a stage that would normally be done. Part of the Icewine 1 data was lost or compromised during the drill (contamination I think) so having analysed all the available data they had to make the call that skipping the vertical test and moving straight to horizontal would be too risky - they wouldn't know for certain which horizon or landing zone to aim for, and 'the LZ is absolutely critical for a successful frac' (PB). However, understand this... Icewine 2 should take us from our current 50% chance of success to nearer 85% assuming it's successful and we prove flow rates of 100-150 barrels, which is what they're publicly stating as their expectations (personally I got the impression that perhaps they were low-balling this so that when news comes, we'll exceed expectations). Of course if Icewine 2 doesn't flow then we're back down below 50% and watch out as the share price crashes. So it's a "very high risk period of 6-7 months" to quote DW and I respect him for laying it out like that... because we should all be aware of the risk! If Icewine 2 is successful, then the next step is horizontal wells, and with them immediate production, and revenue. Icewine 2 could be reused for this purpose too. DW corrected the assumption that 88E will never be a producer. The only question is how the funding of those horizontal wells would be made, wither via a placing or from an arrangement with an oil and gas company. Either way it's dilutive, the former being more shares in issue and the latter being a share of the revenue. DW was very open about this and really it comes down to what's the right approach at the time and the environment we find ourselves in, driven primarily by the price of oil and appetite for investment in oil. The plan would be to drill in multiple places around Icewine 2 and really start to cream the curve by demonstrating how much value there is to be had from the 271k acres. But with 1,000 drills needed at $15m each, it certainly won't be 88E drilling them! But at that point, ker-ching and we're all very rich indeed... Hopefully that was useful, it's taken me 40 minutes to type on my phone! One last thing that was intriguing- as the LTIG now represents 30% of the value of the company and 780 people, we are clearly the largest single investor body. This may give us some leverage in approaching a broker to help fund 88E in the future, rather than a share purchase plan which crashed the share price a year ago due to traders selling out. The benefit of LTIG funding would be 'stickier money' and less volatility in the share price. Right that's it before I get RSI typing on a phone!!!
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12/4/2016
13:39		loglorry1: @newvest1 you are totally naive if you think Basinski has no economic interest in an increased 88E share price. I've not researched it in full as I've not had time and it may not be public info but you can be sure he has.
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06/3/2016
21:01		theclangers: Not much surprises me anymore with shares, commodities, ETC, It's unlikely but not inconceivable the PoO could get back to $100 within the next 18 months, (88E is highly geared to PoO) You might think the Saudis/opec are mad to turn/leave the oil taps fully on & recieve such a low price for their precious oil. (But have they got a cunning plan) When they are done trashing the price to put the shale producers out of business, What then if they cut back production, (they have been ruthless before) the price would go sky high, the shale producers would need quite some time before they could get back into full production (once bittern twice shy) and would be in constant fear the the price could be trashed again. A year or two of $80/$100 PoO would have a dramatic effect on 88E share price, if that played out £1 a share would not be beyond the realms of reality. unlikely but possible, Leicester were 5000 to 1 to win the premiership, what odds on oil getting to $100 in 18 months, I would say 3 to 1
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05/3/2016
14:39		philmar089: i know this is old but still good info 15-06-15 Oil Explorer Accelerates Alaskan Play as Repsol Reports Discovery Nearby 88 Energy (AIM:88E; ASX:88E) is surfing a tsunami of news right now. Most importantly, a few miles down the road, $23BN USD oil major Repsol has just struck oil… … A 750 million barrel discovery, by our rough estimates (read on for the full calculation). Repsol paid $768M USD for their land a few years ago. But earlier this year our company 88E snapped up nearby acreage at a fraction of the price, at the bottom of the cycle. Repsol’s discoveries are just 50 miles from 88E’s acreage Given the proximity to 88E and reservoir quality encountered by Repsol, it’s highly encouraging that these discoveries could be within a resources fairway that extends into 88E’s acreage. The 88E share price has been up around 90% since this news started to spread… The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance. 88E’s even closer neighbour is announcing results any day now That closer neighbour is “Great Bear Petroleum”, who has drilled one of two planned wells and we are expecting results could drop at any minute. What might positive news from a direct neighbour do to the 88E share price? All this comes as 88E surges toward its maiden drilling event at Project Icewine – where it’s targeting 8 billion barrels of in place oil (gross mean unrisked) potential on their unconventional prospects.
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04/3/2016
17:10		newvest1: LSE:88E OKSearch 88 Energy Share News (88E) Follow 88E Start Trading Share Name Share Symbol Market Type Share ISIN Share Description 88 Energy LSE:88E London Ordinary Share AU00000088E2 ORD NPV (DI) Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade +0.32p +13.91% 2.62p 2.50p 2.60p 2.725p 2.45p 2.575p 128,275,696 16:35:18 Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) Oil & Gas Producers 0.1 -14.5 -5.1 - 82.88 Print Alert 88 Energy Limited Issue of Equity 04/03/2016 5:06pm UK Regulatory (RNS & others) 88 Energy (LSE:88E) Intraday Stock Chart Today : Friday 4 March 2016 Click Here for more 88 Energy Charts. TIDM88E RNS Number : 1657R 88 Energy Limited 04 March 2016 88 Energy Limited Issue of Equity 88 Energy Limited ("88E" or the "Company") confirms that it has today issued a total of 6,400,000 fully paid ordinary shares (the "Ordinary Shares") pursuant to the exercise of options. Admission of the Ordinary Shares is expected to occur on 11 March 2016. Following the issue of the Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 3,172,828,372 ordinary shares in issue, all of which have voting rights. Media and Investor Relations:
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28/2/2016
16:22		h2owater: http://www.lsesharetalk.com/oilandgas/88e/88e-poll.phpIcewine #1 Drilling Update - 88EHello there and thank you for taking place in our recent survey in which the winner chosen by yourselves was "The time line of the company and what to expect"... as is obvious, these are only rough estimates and are my thoughts based on my knowledge and research.Firstly I hope you have all done well and enjoyed the rises over the last few weeks but as you may see there is so much more news to come...As we know the Thermal Maturity was confirmed on the last RNS released and we were told to expect the next piece of news towards the end of February into March on the rock mechanics. These will let us know what the rock structure is in place and how easily they can be fractured. More importantly the amount of oil that can be released from them and is lying in between them. After this information, the full results will be released. These will show lots of information of what the samples show. Contained within them will be the petroanalysis of the Kaparuk sands and what the 58' gas discovery holds (should be condensate or light oil). These could be a week or so after the rock mechanics.Shortly after 88e's recent good news a legacy payment has become payable via an old contract with a company called GALP. When 88e's market cap raised above the $50m mark a payment of $3.4m became payable within 60 days, either by shares or by a cash payment. For the issue of shares this will be at a 10 day average price, dependant on the news flow if the share option is chosen 88e will probably do this at a time where the share price should be at its highest. 88e can do both easily at the moment with cash in the bank.Upon good results, and as per previous RNS announcements, 88e will take a loan out with the bank of America to purchase 3D data. This is where 88e starts to get interesting. There was a company who shot 3D on our original land purchase called SAexploration. 88e is currently in final negotiations to purchase the dataset that has already been interpreted by Saexploation. This is with the company who currently own the data, this was subject to a 85% rebate so should be a cheap acquisition. This data set will allow the potential joint venture partner to see the true potential of 88e's acreage by seeing the unconventional and conventional oil plays. The loan could come at any point in time and the subsequent acquisition. One thing to bear in mind is when applying for a loan you know what the cost of the item to be purchased is, thus talks may well have concluded. During my research into the who's what's and why's I stumbled across the letter that was used to apply for the 3D data. The links for these are at the bottom of the page with my subsequent thoughts on this matter.Around a month or so after the purchase we could see an Analysis and publication of the SAexploration 3D seismic data and hopefully confirmation of any "conventional" oil in place as an estimate. There could very well be an independent resource report on the conventional in place shortly after as well.The 2nd part of the 3D story is the data shoot to be taken on 88e's soon to be acquired land. These permits were logged in October last year and are now subject to completion of the contracts and they should start the shoot by the end of March. The shoot will be subject to a 75% rebate. Historically the land purchases are around June. I hope the JV agreement that Dave Wall is looking for will cover the cost of the purchase of the land or 88e gets a payment to cover these two costs to date. Thus there will be no need for any further placements in the future.On the back of our lab tests and published results there will be an Independent Resource Report, sometimes called the competent persons report. Potentially due end of March into April this may or may not contain the conventional oil in place on the 3D but will have a barrels in place figure for the shale's and any other finds that are in place on the icewine acreage.Throughout the next few months joint venture and other talks will be in place and this is were patience is key to all holders, the results and independent resource reports will determine how strong 88e's negotiation position is. The other important factor is the price of oil which the general consensus says will be on the rise across this year, time will tell but expect June onwards to hear reports about how things are progressing. They may well open a data room where all of the companies reports and details are accessible by all parties this will be done as soon as the full results are in on all aspects of our current land.Confirmation of conventional oil from the 3D seismic still to be shot will be around the end of the year after the interpretation has been completed and late year for an independent resource report on that data acquisition.There may or may not be other news as we go along and these will all become clear as and when a time scale can be placed upon these, for instance icewine#2 might well be a multiple drill program dependant on the jv partner. The permits on the drill might come before completion of the joint venture or after, this might alter the timing of spud of the next drill. Either way it will be towards the end of the year earliest.On many forums there has been many discussions about who 88e's joint venture partner will be or if a takeover offer will be somewhere in the pipeline in the future, the main train of thought is the link between Paul Basinski and Connocophillips. Connocophillips has over the last several months turned away from other areas worldwide to develop a little closer to home and has released several hundreds of millions of dollars to do so. As the major driving force behind the prolific Eagle Ford discovery and the fact that Paul was working on the icewine discovery whilst working for them holds weight to what are 'theories', I for one like theories if they can be backed up, but also like to sit back and allow what needs to happen to take place. Last year I came across the Saexploration permits and let everyone know that there was a 3D shoot about to take place on our acreage which bodes well for the future prospectively at icewine. Whilst looking into the permits it looked like the company applying for the permits was accumulate energy, as per page 3 of this linkLooking further into the links between Connocophillips, Paul Basinski and 88e there is a document at this linkAs you can see the document states that the company that put in the permit was Connocophillips, make of this what you will but this holds more weight to the theorists out there who mainly state that we are a shell sent in to prove up the acreage at little risk to Connocophillips. I don't know fully who owns the 3D that we are purchasing apart from Saexploration have shot the data and interpreted it, although what we do know is that someone has to ask Saexploration to shoot the data. If it was Accumulate energy then Dave Wall is the president as per the link above so why the need to negotiate? I will leave you all to make your own minds up on this but all I can say is the future looks very exciting indeed for 88e holders.Kind regards to everyone and 88e.Steve
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