"I'm sure I saw somewhere one of them was pumping couple...

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Randy Savage

5,276 Posts.

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21/10/21

10:08

Post #: 56959754
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Originally posted by In Da Hood ↑

Keep those negative thoughts to yourself Longy, I have mostly options better leverage lol. Also GJ does not strike me as the person to try and stiff his backers / shareholders / option holders.

I don't think so personally with oil prices where they are they should be going pedal to the metal on getting oil and gas pumping.

I think the silence is purely the fact whatever deal they are wheeling in the philippines is in motion and not settled yet. I also think they would literally be busting ass in Canada with those assets they have to get things turned up. I'm really interested to see what the production rate is coming up to, even if all the money is going into turning on idled assets so be it. Why build a 5 mile pipeline for $1m USD if you can spend $1m USD doubling oil production in Canada from existing assets, I'm guessing that is why Borba is on the back burner. The dynamics of the oil market means do whatever you can to get those assets back up to their hey day numbers. I'm sure I saw somewhere one of them was pumping couple thousand barrels pre-covid.

I still believe ultimately 88e directors are going to buy in for 30% or more of the phillipines blocks but that is just a hunch based on their capital raising and mention of other acquisitions on the 88e side. It's just too much coincidence that 88e now has 3 ex Nido directors, more than anyone they know what the worth, potential or otherwise of those assets is.

Ultimately the options were given to shareholder who backed the company in a capital raising. Except for those that lost faith and sold out for me to snaffle some

All in all i'm waiting with somewhat baited breathe they said regular updates now a cone of silence has fallen... hopefully that means something big is brewing.

We await.

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"I'm sure I saw somewhere one of them was pumping couple thousand barrels pre-covid."

Yep it was the Alberta assets IDH which were producing over 2000 boepd prior to 2020...i am sure they are working hard to bring these shut in wells back on line with WTI at nearly $84 a barrel

Last edited by Randy Savage: 21/10/21

SGC Price at posting: 4.0¢ Sentiment: Buy Disclosure: Held
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