Ann: Alaska Projects Update, page-123

Well back in Aust good to see some SP movement finally, unfortunately the personal bickering posts continue. Yawn!!

Oilman yes company in discussion with a tier 1 O/G company by doing a FO. Been ongoing since last year. If the final terms agreed by both parties then great for holders and 88 going forward as would have experience and cash to drill the conventionals.

We might finally even be able to drill in the correct spots with an experience O/G coy calling then shots. I really hope it gets signed. Over all those wasted $$ wells during the last 3 yrs.

Hopefully, finally several wells drilled in 2020. SP should go above 2c on this FO news. I am more conservative than some here due to drilling next year, so I don’t expect to see 3-4c rise on this news alone. Only happen on successful drilling.

Downside is no agreement number of reasons for this. Main one would be tier 1 realising 88’s current position of weakness imo and passed performances want a huge % as well as the kitchen sink. They are in the position to ask all in my opinion.

Sadly if deal doesn’t happen or continues to be extended then in my opinion SP will fall. Forum will continue to get more personal as some holders vent frustrations, jealousy and contempt. My advice hold multiple stocks and come back to this one once they are ready to drill. Fairly simple scenario how I see it.

Also the HRZ company wishing to FO this as well. Talks later in year as company announced they drilled in wrong spot but confident good oil plays there.

Finally Yukon next year, I believe we either go alone and drill with next door JV into this.

What’s important to me is the big O/G coys come in and we drill multiple wells and no more 88 going it alone. Way too much time and money wasted in my opinion.

So oilman plenty of time till next year when we actually drill and this forum gets back to talking about drilling, drilling and drilling. Good luck.