I know right, 88 imo constantly over hype, poorly plan (PPP), fumble and fluff their RNS's with poor messaging imo, which gets lost predominantly by our non-O/G SH market, (again like the apparent low flow rate), which normally results in underdelivering, and SP fails to rally (like yesterday) all this happens mainly due to PPP and badly worded RNS's imo... That RNS could have been so much better if explained with greater detail imo... 88 look very amateurish to me... That's why ASX didn't do much yesterday, LSE had to wipe our back sides, lol....
The USFS was rushed imo and was suffering time constraints imo, this was my biggest fear realised, as it's obvious to me that this well was experiencing some issues and was significantly delayed and I don't for one second believe this was all due to the weather, the true facts will surface imo... So, imo rushing was experienced with this flow test and 88 could have done so much better with the planning and money we gave them, as they certainly don't financially support any of these drills imo... Sigh!!!!
Over, all the dilution and money wasted by only doing halfhearted or should I say rushed drills, resulting in another PPP result, after a year of planning, go figure... Always some issue experienced with 88 imo, which ultimately impacts the market and SP... We deserve much better than this current board and management deliver to all SH's imo.... Remember 0.007/8 isn't a success, many SH's expect 1.5+c and if 2 things happened imo we would be seeing 2c+ now.
1. Don't mention consol prior to company defining flow test and interesting to see no mention in the annual report, they must realise SH's are furious with them, I certainly am... Where has consol talks gone!!! Sigh!!!
2. Flow tested USFS longer and over a longer interval, along with BFF get a much bigger value for our money than this brief flow imo... Market would have responded a lot better than 0.007c... I guess if hold no shares then SP isn't a concern imo... Sigh!!!
There is no reason for doing a short duration oil flow and not capturing a higher bopd and why not wait for all frac water expelled and a much better result would have been known, which leads to my second question why USFS flow rates were achieved from such a low volume frac of a small 20ft vertical interval, why not a larger interval which would have represented a much higher bopd... We deserve more bang for our $$$$ than their - yep oil flow, call it and let's move on, next!!
88 have spent almost $40 Mil since last year and only picked 2 zones to flow and for a short duration, they didn't flow the BFF and the big question now will the SMD be a short duration flow test as well and over a small 20 ft interval????
88 could have done so much better and like you, will stick to my voting preferences as I outlined on here, as we need big changes now before we waste any more money with their halfhearted, 1 yearly drills imo... IMO this current 88 team and their decisions made to date imo are impacting significantly on all of our investment, I call it the way I see it.... 88 could and should have done much better imo... Missed opportunity big time and seeing 0.007c isn't a cause to celebrate...
Remember imo our biggest concern hasn't happened yet, as 88 are broke after this well, so going off past history, will 88 destroy any SP gain and when will they announce another CR???? It's coming, but when.... Don't get too optimistic guys as 88 imo will surely pull the SP rug from under us all, confident of that happening again as it normally does as SP isn't important as hold no shares imo.... Finally looks like LSE will have to do more heavy lifting if we are to see 1c+... GLTA.....
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