Jackpot: Buy a house outright. Mortgage Free. Semi-retired aged...

Jackpot: Buy a house outright. Mortgage Free. Semi-retired aged 32/33.

Crash & Burn: I obviously would not be too happy to lose £12,000, but it won't change much for me. I am not rich, but I have a hefty amount of savings. I can't buy a house here in the UK as they are too expensive. My money just sits in the bank doing nothing, and will continue to do so until I retire. So I'll effectively have £12,000 less for retirement. Though, from this year onwards the Lifetime ISA is available in the UK. So even if I lost the £12,000 on 88E, I at least know I am going to get £18,000 for free from the government when I retire.

So in effect - in my mind - I have the government saying to me "Dave - take some risks with your money, have a gamble while you're still young mate, don't worry about losing it - we will give you £18,000 to cover those losses when you retire".

So well worth the gamble. Jackpot = life changing. Crash & Burn = Nothing changes.

Also, I'll probably invest in blue chip companies whenever the next financial crash happens and get my £12,000 back that way.

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This all said - this IMO is far from "All or Nothing" as the title of the thread suggests....

Plenty to fall back on:

-Conventional.
-Fracking will improve - so for me - if Icewine 2 doesn't get the flow rates now - it will in the future when fracking technology improves. So unless I'm missing something - this is a case of when, not if.

How can any company walk away knowing there are many billions of barrels below their feet. If you walk away - in time - another company will come along and frack it with new technology and BOOM - billions of barrels for them.

This oil is coming out of the ground for 88E, if not this year - then within the 10 year lease.

It goes without saying - I can ruddy well wait if I have to. 88E are not going to walk away, neither am I.

Or am I missing something? Is there a reason why 88E would walk away when they have a 10 year lease, they know billions of barrels are under their feet and they know technology is improving quickly?


The only issue here is if they, external companies, all the studies done on the North slope are wrong and it's actually not oil, but billions of tonnes of dinosaur poop.