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88E

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0.2¢ 88 energy limited

Thanks for another great post @olderwiser certainly helps simple...

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Prosperity and Beyond

142 Posts.

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08/09/17

18:02

Post #: 27096771
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Originally posted by olderwiser ↑

To expand the thought process a little from the short comment above.
88e have a pattern of regular weekly updates during active phases such as drilling and testing, they are required to provide an immediate update if a material change occurs. It then becomes a question of what is a material change in the testing results, IMO a few barrels of intermittent oil production would not meet the criteria, so would form part of the regular progress updates. Whereas 50 barrels of steady production would and even the 50 barrel threshold would present problems to announce if the flow rate was still rising.
Forward looking statements are not really allowed, so they cannot say we are flowing 50 barrels and expect it to rise to 150 over the short term. They are limited to the actual number and would have to say something like " early stage of production testing, flowing 50bpd at xxx time". The market would probably react negatively to such a release if it was given the extra emphasis of an irregular update.
The gas release frack fluid clearance process within the reservoir is a little hard to explain in a way that is easy to relate to, so I have an analogy.
Consider a road system, with the main road being fed with multiple smaller side roads like a herring bone pattern(fractures), At the tip of each herring bone are vast numbers of motorcycles(high oil gas phase). Now completely fill the entire system with a bumper to bumper traffic jam(frack fluid) The system would clear quickly if the main road was allowed to empty first, as all the vehicles would achieve open road speed, but the drivers on the side roads are impatient and continue to force their way in so reducing the overall speed to a crawl. When a section of road becomes open motorcycles are able to thread through the slow moving cars and enjoy a short spell at speed before hitting the next jam. The drivers are not capable of changing their behavior, so only time will cure the problem, until then it will only move in fits and starts.
Hoping to be proven entirely wrong with an early break through announcement.

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Thanks for another great post @olderwiser certainly helps simple me understand it a little better now.

Conversely I also think no news is good news too as anything negative would have been material requiring an announcement I would think, thus reasonable to assume everything is proceeding satisfactorily to plan at the moment to date, hence no announcement to date since Monday passed.

Anyway I could be an ultimate optimist but I am certainly patiently awaiting to see what the HRZ can do with my free carried 88e investment.

Good luck to all holders and have a great weekend all

88E Price at posting: 3.4¢ Sentiment: Hold Disclosure: Held
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Thanks for another great post @olderwiser certainly helps simple...

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Thanks for another great post @olderwiser certainly helps simple...

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