88E 0.00% 0.2¢ 88 energy limited

Guys it’s not just about choke some here are looking into this...

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  1. 5,390 Posts.
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    Guys it’s not just about choke some here are looking into this way too deep. It’s a combination of many technical, physics and the structures.

    The well isn’t going to flow oil imo simple as that. Last year it struggled and by closing in choke to from memory to bugger all think 5/64 which is about 1mm to maintain a falling pressure to remove FF. This was the big warning sign to me of a troubled well leading to failure.

    Now choke opened a lot more and not too much playing around unlike last year the well still in trouble. Choke is basically driving car up hill going from 3 to 2 gear to maintain speed until we Coast down the hill. Sorry this well is Everest no down hill in site.

    Flowing oil Is more to do with what’s down there and structures. The decline in pressure after N2 the FF removal is basically stopping. 1% in a week. Not good enough. No other way to say it it’s done in my opinion.

    I hope we go back to highlighting potential conventional wells. We need to focus on this. Secure a few more of these then we can add substance at the table for farmouts etc. importantly add much needed reserves so the big guys want to T/O us. That’s the plan not production.

    I think the idea of HRZ was a very ambitious plan. Maybe driven by other parties. I constantly was outspoken re this plan as I preferred conventional. HRZ was a Bit early without confirming more wells. In my opinion didn’t work and 88 has to refocus as a little junior explorer again. Walk before running is a better way to go. Drill heaps of wells then the big rewards will come. I am as disappointed as most here but we know the risks.

    We have cash and positive info to come this year and 2/3 wells next year all will work out. I will in time understand what all the issues of this well were and we will learn from it. Maybe some changes might be required prior to drilling in future but will wait like all of us to comment any further. Night all time to focus on other parts of life not this well for me. All the best guys see you back here when we are up and about again.
 
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