Ann: Trading Halt, page-25

Finally the approval has been announced. But has implications. Unfortunately another costly delay which was my fear would happen once again. Sadly 88 still following the mismanaged playbook from previous years so predictable, YES another CR prior to spudding, lol.

Seriously this is a concern on 2 fronts.

1. This delay of spudding till March is late in the season. One mistake or equipment failure like last year will be the end of drilling, remember 31st March last year the well was abandoned as was too late to continue. So that was a huge waste of $. Will this repeat again? Very tight timeline going forward. Really poor managing from 88 in my opinion.

2. Not enough cash due to these costly delays same as last year. Doing this well alone is expensive and going to be more dilution. Close to 15 billion shares on issue lol. Once again CR kills SP momentum, but thankfully only be short lived. What’s another couple of billion more shares lol.

88 never seem to learn, really poor management of this drill imo and will this be another huge waste of money blown if further mistakes happen again and prevent completion. So it is concerning on the big picture.

Yes SP will rally out of control and people will make money so I guess many investors here couldn’t care less. But to me it’s just another bad look for 88.

Anyway we all will make some $ from this, but it is disappointing to see delays and further CR which has impacted on this well as now we have a very small window to drill this well now. Just saying it as it is. GLTA.