Just for more clarity on my earlier post, not that it's really...

Just for more clarity on my earlier post, not that it's really needed as I'm sure anyone invested must have watched or been at the past 3 investor presentations. Paul Basinski pretty much said that he strongly believes the sweet spot is under our feet and that he has high confidence in where the boundaries are....

"In addition to materially increasing our position at this last sale, we now control the entire sweet spot for this play, which after the Eagle Ford experience that we had, we could have also done the same. The idea was, if we're going to do this, let's this time not leave money on the table. Right now, as we believe it, we've basically leased the entire thing up. Now, we're really ready to rumble after all these years...................We now have very high confidence that we've taken the entire sweet spot out"

When talking about his sweet spot diagram:

"Dave pointed out a little cartoon map. There it is. Like Dave said, this represents a lot of different information. Effectively, what this represents is the integration of not only all of the core data, but then we've come up with some new IP that we are able to, with very high probability, be able to tell where these wings are."

He's also stated that:

“We had a service company whose name is going to go unsaid who took a look at this and said this is the best shale reservoir they have seen in the world.”........

“We bought in, arguably the world’s expert in the thermal maturity of the North Slope, Ken Peters. He’s a professor at Stanford and USGS, he’s the most published guy, he’s an expert on the North Slope - and we had him independently evaluate it and he came back with the same interpretation (as us).”



Conclusion:
In terms of percentage, this sounds like 98% certainty at least in Paul Basinski's, Dave Wall's and Ken Peter's belief that the Sweet Spot is ours and takes up most of our acreage. These 3, as far as I have determined, are respected, honest people, so IMO the Sweet Spot IS ours, it's there. I think it goes without saying that anyone that is invested in 88E believes this.

What I will say is, from my very very brief time investing, I have witnessed a lack of integrity, and honesty with the management of penny stock companies. I wouldn't say I know Paul and Dave inside out, far from it, but I trust them. Basinski has a good track record and surely wouldn't spend 7 years of his retirement doing this, and do it partly for charity, to mess investors and himself around. His strategy is to fail fast, it's been 7 years - he hasn't failed.

Is there anyone here that has any concerns about management?


My only concern is - this may take time to frack, it may not happen straight away, it may well take several goes to optimise it. At the end of the day, with the confidence the team has in terms of taking out the whole sweet spot, IMO it's only a matter of time before this does frack the way we need it to. The amount of oil and the gaseous state it is in, the pressure inside the well etc etc should all help this flow - so it's just a matter of getting the rock to split open and the right amount of proppant to embed. The oil reservoir isn't the issue,

This all said - I am no expert on fracking and fracking success rates of getting light oil out of the ground. All I know is that fracking has been a success in America and there were 300,000 producing fracked wells as of 2015. http://money.cnn.com/2016/03/24/investing/fracking-shale-oil-boom/

It seems fracking with today's technology is a success all over America.

What I'd love to know is - Are there any light oil shale reservoirs in the USA that have been fracked as optimally as possible with modern technology which didn't produce at an economical rate, and if so - what was the issue?  I'd absolutely love to know the answer to this question.