88E 33.3% 0.4¢ 88 energy limited

Older don't let them get to you, now they want your opinion,...

  1. 5,166 Posts.
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    Older don't let them get to you, now they want your opinion, lol... We know what this RNS means, yes, they have successfully flowed oil and naturally, which is a great result, but only quoted peak flow rate NOT the average flow rate which tels the true story and that should have been announced, as this sends a more accurate rate than a peak, which imo this RNS is a bit inflationary and slightly misrepresents the true picture imo... Flow rates a bit low for my liking, but flowing oil is better than no flow and I was hoping for higher flow rate numbers...

    Anyway, great that oil flowed, the viscosity (API) around 40 is good, but we all know only a horizontal can represent true flow rate figures and commerciality, sadly 88 are a while away from this and costs a heap more money, where are they going to get this and when, so a JV is their only sensible option imo...

    As I said previously, the well costs increased further due to extended time on site and now 88 are broke...We all know CR coming, hopefully a JV and minimal CRs, but our REM/Admin costs are so high that CR then JV will happen this year imo, which will kill off any further SP rally imo... How many performance shares now will be given to our board while SHs still experience losses... PANR are the ones who delivered this, NOT our board imo, we would still be wandering and wasting millions in the tundra if wasn't for PANR...lol...

    Shame 88 stuffed us imo before they flow tested and the market/SP chart confirms this, I expect whoever suggested telling the market about consolidation back in Dec prior to this flow test, needs to resign immediately and I hold them accountable, as this has 100% impacted the SP rally and effected all investors, many still holding since Merlin failure and last year Hickory drill SP failure, unlike our new management and board who haven't bought a single share, sorry now it's time for accountability, as once Consol happens, if happens, the only way our SP will go is down, fact....

    88 have to hold off doing consolidation until they drill the horizontal with JV or sell to PANR imo, doing this after AGM is a stupid and poorly timed move imo and only add further SP losses in 2023 for SH's imo, remember our leaders hold nothing and doesn't affect them, time to reward SHs first, before trashing their investment I say...

    I just hope a new board is presented prior to 88 coming back to Alaska, they all have to go imo... Maybe PANR step up and present themselves could be an option for us SH's and joining both companies could be a smarter option, as they know the area and obviously instrumental in flowing these zones, NOT our board and management, so I support that they all have to go imo....

    PANR please replace our board, that's want I want to see for the rest of 2023 and in Nov plan to drill horizontal asap and don't waste time or money on Africa or another play imo... Hard to see SP moving much now, but down, sadly expecting a lot of SH's now forced to hold, so that's why 88 have to fast track to the horizontal program early next winter, then consolidate then imo...
 
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