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88 Energy plc (ex-TPET)

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88 Energy plc (ex-TPET)

Post Fri Jan 16, 2015 1:25 pm

Soon-to-be-"Ex-Tangiers Petroleum"

New report out: http://www.edisoninvestmentresearch.com ... update.pdf

Estimated pre-exploration 2015 gross assets value of A$14m, mcap currently £2.4m (A$4.5m).

Long term play, but with clear opportunity for 50-150% short term mcap growth.

Latest corporate investor presentation: http://www.tangierspetroleum.com.au/wp- ... y-2015.pdf

First SP driver will be official award of licence later Q1'15.
Thereafter, all eyes on Great Bear Drilling for Q1/Q2 2015.....

KEY STATISTICS AS AT 15 JANUARY 2015:
Total Ordinary Shares: 452,026,723
Options: 22,525,087
Number of Shareholders: 2,715
Top 20 Shareholders (31.12.14): 36.06%
Price : A$0.01
Market Capitalisation: A$4.52m (2.4m GBP)

cheers
DD
Diamond Don
 
Posts: 604
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Re: 88 Energy plc (ex-TPET)

Post Mon Jan 19, 2015 11:37 am

See resource update: http://www.tangierspetroleum.com.au/wp- ... -Final.pdf

175mmbbls NET RISKED, 492mmbbls gross unrisked.

It's all kicking off on the market today......


If Great Bear Drilling hit oil on the adjacent blocks this will pump again.
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Fri Jan 23, 2015 10:59 am

DD same from next oil rush.. http://www.nextoilrush.com/8-billion-ba ... t=20150123


8 Billion Barrel Resource Potential Confirmed

Eight is a very lucky number in China – and Tangiers Petroleum (ASX:TPT, AIM:TPET) is starting to come up with 8s all over the place.

It’s going to ask shareholders in the next few weeks to approve a name change to 88 Energy Ltd and it’s just been handed anIndependent Resource Report identifying potential oil in place of 8 billion barrels at it’s Project Icewine (gross mean unrisked) in Alaska’s North Slope.

The same report also indicates recoverable oil potential of 492 million barrels (gross mean unrisked)…

These figures were conservatively evaluated by considering just 44% of the total project acreage for unconventional resources – appropriate given the early stage nature of the Project, however we see significant upside potential here if the entire project area is considered, the shale recovery factor is higher than first thought, or a shallower, conventional play works out.

Does the North Slope of Alaska have the right elements to become the next big thing in unconventional liquids-rich shale plays?

Tangier’s project partner, BURGUNDY Xploration, Inc., and it’s billion-barrel oil-finding principal, Paul Basinski, sure think so.

Basinski believes the “HRZ Shale” has the key ingredients that make the best shale plays “tic”. If anyone might know its Basinski – he spearheaded ConocoPhillips early mover advantage in Eagle Ford shale, and led them to acquiring ~320,000 acres in the sweet spot of the play at rock bottom prices.

Unique geological circumstances appear to have led to the formation of a higher-than-normal porosity and net shale pay, leading to a resource concentration that appears to be higher than the Eagle Ford, Bakken, Marcellus and Utica plays…

Meanwhile various companies are pouring tens of millions of dollars of exploration investment into a shallow conventional target on the North Slope. Owing to the significant sums invested and the potential for multi-million barrel finds, it’s the hottest play on the North Slope right now.

Regional studies and offset wells strongly indicate that this play may be present on TANGIERS acreage…

TANGIERS’ immediate neighbour, Great Bear, is about to start drilling the first of up to three high impact wells for this conventional prize based on their latest 3D seismic survey results – one proposed well location is one and a half miles from TANGIERS’ boundary…

Positive results from Great Bear are likely to have an immediate impact on TANGIERS’ valuation – currently with a humble market cap of less than $6M AUD at last market close on the ASX (and less than £3M at last market close on the AIM).

With an 87.5% working interest on 99,360 continuous acres in the prolific North Slope – and a slew of nearby drilling events to come in 2015, surely the attention of potential farm-in partners is starting to focus on TANGIERS…

TANGIERS is building up to a phased coring and drilling event in 2015/16 and plans to initially spend $2.1M (£1.1M).

The company will need to raise funds to carry out this work – and at its upcoming Extraordinary General Meeting its going to set in motion plans to raise up to $6M AUD (£3.2M) of capital and hopefully put the company on a path back to good fortune.

Are lucky 8s in store for TANGIERS?
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Fri Jan 23, 2015 2:47 pm

They're always one step behind me.....
Diamond Don
 
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Re: 88 Energy plc (ex-TPET)

Post Mon Feb 16, 2015 9:45 am

Big placing coming dd?
Overthebridge
 
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Re: 88 Energy plc (ex-TPET)

Post Mon Feb 16, 2015 1:17 pm

Aye min, 600m at 1p for a paltry £6m quid. Always on the cards.
I dumped 60% of mine for a 50% profit at 1p.

Happy to hold the freebies in case something big does come off and they push £20-30m mcap again, that was always the plan.

All depends on how Great Bear Drilling get on next door, plus oil price, plus interest for farm-in.

If the cap raising is fully subscribed, I'd expect the SP to level out around 0.55-0.6p. Big 'if' though, these days.
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Feb 18, 2015 9:39 am

Bought in this morning oversubscribed si like a pump
Overthebridge
 
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Re: 88 Energy plc (ex-TPET)

Post Wed Feb 18, 2015 11:41 am

Can't buy
Overthebridge
 
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Re: 88 Energy plc (ex-TPET)

Post Thu Feb 19, 2015 9:40 am

On the move up again
Overthebridge
 
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Re: 88 Energy plc (ex-TPET)

Post Wed May 20, 2015 3:14 pm

88 Energy provides Project Icewine field trip highlights
THURSDAY, MAY 14, 2015


Drilling permits are are on track post constructive meetings with State agencies
Exploration and appraisal success announced by regional peers in conventional plays enhances Project Icewine potential
Multiple rig options available for drilling prior to year end; Visual inspection indicates that drill site is in good condition / near rig ready
Good progress made on strategic funding / farmout process
The Board of 88 Energy Limited provides the following update based on a recent visit to Alaska.

Permitting Progress

During the week beginning 27th April 2015, the Project Icewine Joint Venture conducted meetings with representatives from seven State of Alaska agencies and the North Slope Borough. All parties are engaging proactively in regards to taking the steps required to meet the target for drilling of the Icewine #1 well prior to year end.

88 Energy, through its local subsidiary, Accumulate Energy Alaska Inc., continues to work with all agencies to ensure that it operates in a culturally and environmentally sensitive manner.

Drilling Success Reported on the Slope

Whilst in Alaska, there was excitement in the local oil community related to unconfirmed reports of drilling success during the recently completed winter season. Subsequently, Repsol confirmed, in its latest earnings report, that it had completed two successful appraisal wells and one successful exploration well - all with positive production tests. 88 Energy is encouraged by Repsol's success and hopes to be able to provide more detail once it is made available.

Two of the conventional plays being pursued by Repsol are thought to exist within the Project Icewine acreage. Whilst the Repsol results are promising, the potential at Project Icewine will only be confirmed by 3D seismic and drilling. Repsol's recent wells are located ~45 miles from the boundary of the Project Icewine acreage.

There were also reports of delays experienced for other programs this winter drilling season. It is understood that Great Bear was unable to meet its schedule in regards to the drilling of the Talitha well, near to the Project Icewine acreage. The results from Great Bear's Alkaid well have not been made public at this stage.

Multiple Rig Options Confirmed

The Company engaged in discussions with several rig operators on the Slope and confirmed rig availability over the Summer/Fall season. The Company looks forward to committing to the use of one of these rigs in the near-term.

Visit to Site Confirms Suitability of Location for Drilling Operations

Representatives of the Project Icewine Joint Venture made the short 90 minute car journey from Prudhoe Bay to the Franklin Bluffs site. The Dalton Haul road was in good condition despite a recent, one in twenty-year, flooding event from the adjacent Sagavanirktok River that saw traffic halted for around two weeks in early April. Road access for drilling of the Icewine #1 exploration well is not expected to be affected by plans to refurbish a section of the road this Summer.

Whilst all permits are not yet in place to drill at the existing gravel pad at Franklin Bluffs, the Company is confident that the location is suitable for drilling operations. Discussions with permitting agencies have also confirmed that the location is ideal as a proposed drilling site, being within the Transportation Corridor, on an existing pre-disturbed gravel pad, and adjacent to the Dalton Highway.

Funding / Farmout Discussions Progress

The Company continues to make good progress on strategic funding / farmout discussions and is currently engaged with multiple parties on this front. More detail will become available in the coming weeks.

David Wall, 88 Energy's Managing Director, commented:

'With the project moving forward at a cracking pace on all fronts, combined with the recent success by Repsol and the recovery in oil price, 88E and its shareholders could not be much better positioned. Drilling remains on track for prior to year end spud as strategic funding/farm-out talks progressing concurrently with operational activity. We anticipate strong newsflow in the near term with several significant milestones likely to be achieved.'

Project Icewine Highlights

In November 2014, the Company entered into a binding agreement with Burgundy Xploration (BEX) to acquire a significant working interest (87.5%, reducing to 78% on spud of the first well on the project) in a large acreage position on a multiple objective, liquids rich exploration opportunity onshore Alaska, North America, referred to as Project Icewine.

88 Energy, (through BEX their co-venture partner), was announced highest bidder on 90,720 acres in the November State lease sale for the North Slope of Alaska on 20 November 2014. Post award of the acreage in Q2 2015 88 Energy will secure a 99,360 gross contiguous acre position with 77,500 acres net to the Company. The primary term for the State leases is 10 years with no mandatory relinquishment and a low 16.5% royalty.

Generous exploration incentives are provided by the State of Alaska with up to 85% of 2015 exploration expenditures refundable in cash, dropping to 75% mid-2016, and 35% thereafter.

The primary objective is an untested, unconventional liquids-rich shale play in a prolific source rock, the HRZ shale,(Brookian Sequence), that co-sourced the largest oil field in North America; the giant Prudhoe Bay Oil Field Complex. Internal modelling and analysis indicates that Project Icewine is located in a high liquids vapour phase sweetspot analogous to those encountered in other Tier 1 shale plays e.g. the Eagle Ford, Texas.

Project Icewine has conventional play potential within the same Brookian petroleum system and shallow to the HRZ shale, including high porosity channel and deep water turbiditic sands. The Brookian conventional play is proven on the North Slope; the USGS (2013) estimate the remaining oil potential to be 2.1 billion barrels just within the Brookian sequence. Additional conventional potential exists in the deeper Kuparuk sands and the Ivashuk Formation.

Drilling, (2012), in the adjacent acreage to the north confirmed that the HRZ shales, along with the underlying Kingak & Shublik shales, were all within the oil window which is extremely encouraging for the unconventional potential at Project Icewine. In addition a conventional oil discovery was reported in the Kuparuk sandstones.

A Prospective Resources Report by DeGolyer and MacNaughton was commissioned by 88 Energy to evaluate the unconventional resource potential of Project Icewine in early December 2014 and was released to the market on 19 January 2015.

http://www.oilvoice.com/n/88-Energy-pro ... 3fb75.aspx
Diamond Don
 
Posts: 604
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Re: 88 Energy plc (ex-TPET)

Post Wed May 27, 2015 12:49 pm

http://screencast.com/t/UglFHzdxDRX

Back off and running again - oil rumours in Alaska? Dunno, alaska.....

soz

DD
Diamond Don
 
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Re: 88 Energy plc (ex-TPET)

Post Thu May 28, 2015 7:04 am

DD RNS..

88 Energy Ltd
Acreage Award Update

28 May 2015

Acreage Award Documents Submitted

Award Documents Submitted

88 Energy is pleased to announce that its Joint Venture Partner, Burgundy
Xploration LLC, has received, signed and returned to the State of Alaska, the
award documentation for 63 tracts of land totalling approximately 89,542 acres.
Burgundy bid on these tracts on behalf of the Joint Venture and was announced
high bidder in November 2014. Once these documents have been processed and the
leases issued, Burgundy will assign to Accumulate Energy Alaska, Inc (100%
owned subsidiary of 88 Energy Ltd) an 87.5% working interest in these 63 new
tracts as well as 6 tracts that Burgundy had previously been awarded in 2013
and 2014. Burgundy will retain a 4% Overriding Royalty Interest over all 69
tracts. 88 Energy has remitted US$2.98m in acreage costs and first year rentals
to the State of Alaska.

The difference between the 90,720 acres originally bid on and the 89,542 acres
awarded is the result of survey work completed by the State. Consequently, the
gross acreage position leased by the Joint Venture will now total 98,182 acres
vs the previous estimate of 99,360 acres.

To facilitate timely permitting, transfer of operatorship and other regulatory
requirements associated with the drilling of the Icewine #1 exploration well,
Burgundy has agreed to assign the 87.5% working interest and operatorship over
ADL392301, which contains the site for the well, prior to formal issuance of
the other leases. The documentation for this assignment has been submitted to
the State of Alaska for approval.

88 Energy anticipates that its subsidiary, Accumulate Energy Alaska, Inc, will
be officially "on title" within weeks (rather than contractually entitled to
the acres as it currently is). Additional updates in relation to the process
will be made as they occur.

Managing Director of 88 Energy Ltd, Dave Wall commented: "Whilst the award and
assignment process is largely administrative in nature, it is a crucial piece
of the puzzle and another meaningful step forward for the Company and its
shareholders. 88 Energy would like to thank its JV Partner, Burgundy, for its
timely and flexible approach to the process as well as the State of Alaska for
the opportunity to operate on the North Slope. We look forward with great
anticipation to the upcoming drilling of the Icewine #1 well prior to year
end."
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Thu May 28, 2015 9:50 pm

Cheers Tony
To be clear on my position, I'm only in this with free shares after the initial pump to 1p.
If the Great Bear Petroleum drill is successful then this will pump again and I'll sell those free shares too, but before 88E drill a well in Alaska there will have to be either a fundraiser or another farmout. I'll aim to buy again in the run up to spud then aim to topslice on any hype/pump before TD.

Cheers
DD
Diamond Don
 
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Re: 88 Energy plc (ex-TPET)

Post Fri May 29, 2015 3:31 pm

On the peaks up again
BalkerBall
 
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Re: 88 Energy plc (ex-TPET)

Post Mon Jun 01, 2015 3:29 pm

Bigger game is waiting for its turn ahead,
BalkerBall
 
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Re: 88 Energy plc (ex-TPET)

Post Thu Jun 04, 2015 7:03 am

88 Energy Ltd
Excellent Drill Results Reported Nearby

4 June 2015

Excellent Drilling Results Reported by North Slope Explorers

Repsol / Armstrong Provide Details on Recent Success

88 Energy ("Company") is pleased to provide an update related to recent
exploration success by the Repsol / Armstrong Joint Venture on nearby acreage
in conventional play fairways that may extend and be prospective at the
Company's Project Icewine.

Managing Director of 88 Energy Ltd, Dave Wall commented: "The results reported
by Repsol and Armstrong are outstanding and well above expectation. They
clearly vindicate Repsol's US$768m deal with Armstrong in 2011 as well as
highlight the success that can be achieved through utilisation of modern 3D
seismic on the North Slope. The flow rates, large areal extent, reservoir
quality and oil gravity all point towards what are likely to be large to very
large commercial discoveries, located only 50 miles from the boundary of our
Project. Whilst the Icewine #1 exploration well is initially targeting the
world class unconventional oil potential at Project Icewine, the results by
Repsol / Armstrong provide an example of the scale of additional potential that
may be unlocked in conventional plays once we acquire 3D seismic."

The following excerpt was sourced from prnewswire.com/news-releases/
armstrong-announces-significant-discoveries-on-the-north-slope-of-alaska-300092293.htm
l.

"DENVER, June 2, 2015 /PRNewswire/ -- 70 & 148, LLC (Armstrong) announced today
the successful completion of the 2014/2015 winter campaign.

Two Nanushuk wells were tested this year, including the Qugruk 8 (Q-8) vertical
well, which tested a small portion of the net pay zone and flowed 30 degree API
gravity crude at rates of up to 2,160 barrels of oil per day (BOPD). The
Qugruk 301 (Q-301), two miles north of Q-8, tested a 2,000 foot horizontal
lateral. The well flowed at tubing constrained rates as high as 4,600 BOPD
with minimal bottom hole pressure drawdown.

In the East Alpine field, two new penetrations were completed in the Alpine
Formation, adding to the previous two penetrations. Three of these wells have
encountered oil productive Alpine sand in excess of 95 feet thick at a depth of
6500 feet with porosities ranging from 15% to 25%. Well control and seismic
data indicates the oil pool covers an area in excess of 15,000 acres.

The successful drilling program is the result of a joint exploration effort
underway since 2012. Repsol operates the consortium and holds a 70% interest,
Armstrong holds a 22.5% stake and GMT Exploration Company has 7.5%.

The activity to date since the beginning of exploration has resulted in the
discovery of several oil fields on the North Slope of Alaska. All 16 wells
(including sidetracks) drilled by the consortium have found hydrocarbons, most
with multiple pay zones. In the Nanushuk reservoir, the consortium has drilled
seven appraisal wells to date and has proven an oil pool that covers more than
25,000 acres, at a depth of 4,100 feet, with an oil column of 650+ feet, and up
to 150 feet of net pay with an average porosity of 22%.

Although additional drilling is needed to confirm the ultimate size of some
discoveries, this season's results justify moving forward with development, and
two of the fields are in the process of being permitted for development -- one
in the Nanushuk and another in the Alpine Fm.

"These new discoveries show the immense potential that still exists on the
North Slope of Alaska," said Bill Armstrong, President of Armstrong Oil & Gas.
"We strongly believe that there are many great conventional oil projects yet
to be found and developed in Alaska, and with the passage of the More Alaska
Production Act (SB 21), the state has encouraged new drilling and future
developments."
TONY THE TIGER
 
Posts: 2524
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Re: 88 Energy plc (ex-TPET)

Post Thu Jun 04, 2015 12:00 pm

Nice bit of boomage there.
Diamond Don
 
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Re: 88 Energy plc (ex-TPET)

Post Thu Jun 04, 2015 4:24 pm

Yep.. well done mate..
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Tue Jun 16, 2015 9:09 am

It’s going to ask shareholders in the next few weeks to approve a name change to 88 Energy Ltd and it’s just been handed anIndependent Resource Report identifying potential oil in place of 8 billion barrels at it’s Project Icewine (gross mean unrisked) in Alaska’s North Slope.[url=http://meizusale.com/blog]meizu m2 note review[/url]
long123
 
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Re: 88 Energy plc (ex-TPET)

Post Tue Jun 16, 2015 10:02 am

You're a bit behind the curve there buddy....

Cheers
DD
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Jun 17, 2015 7:38 am

These figures were conservatively evaluated by considering just 44% of the total project acreage for unconventional resources – appropriate given the early stage nature of the Project, however we see significant upside potential here if the entire project area is considered, the shale recovery factor is higher than first thought, or a shallower, conventional play works out.
long123
 
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Re: 88 Energy plc (ex-TPET)

Post Wed Jun 17, 2015 10:33 pm

The important figure in this story is the $768m that Repsol paid to farm in to the adjacent license, albeit somewhat at the biggest hype.

If Great Bear also strike conventional oil on the opposite side, 88E could land an easy couple hundred million farm out bonus along with free carry.

Worth considering when reviewing the current mcap....

Cheers
DD
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Jun 24, 2015 7:44 am

Subsequently, Repsol confirmed, in its latest earnings report, that it had completed two successful appraisal wells and one successful exploration well - all with positive production tests.
long123
 
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Re: 88 Energy plc (ex-TPET)

Post Wed Jun 24, 2015 9:02 am

RNA - Funding agreement for $50m with Bank of America

How come this tiddler with no production or other income managed to achieve this so quickly...??

Market Cap of $12m...
________________________________________________

24 June 2015

Conditional US$50m Debt Facility with Bank of America

88 Energy ("Company") is pleased to announce that it has entered into a conditional agreement and executed a non-binding Letter of Intent with Bank of America to provide a US$50m funding facility pursuant to which Bank of America may approve, in its sole discretion, funding for specific projects. Bank of America's lending commitment will be subject to a number of conditions including those related to due diligence.

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Managing Director of 88 Energy Ltd, Dave Wall commented:

"It is an exceptional opportunity for 88 Energy to have engaged with a global corporation of the calibre of Bank of America. We are confident of progressing through the due diligence required to close the debt facility in a timely manner as the spud date for the Icewine #1 well approaches."
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Jul 01, 2015 7:24 am

Post award of the acreage in Q2 2015 88 Energy will secure a 99,360 gross contiguous acre position with 77,500 acres net to the Company.
[url=http://oppomobilephone.com/]oppo smartphone[/url]
The primary term for the State leases is 10 years with no mandatory relinquishment and a low 16.5% royalty.
long123
 
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Re: 88 Energy plc (ex-TPET)

Post Wed Jul 22, 2015 9:51 pm

Interesting developments next door.....

"
Otto Energy Limited (ASX:OEL) ("Otto") has entered into a Letter of Intent ("LOI") with Borealis Petroleum Pty Ltd ("Borealis") to earn an interest, through staged capital injections, in a substantial acreage position on the highly prospective, oil prone, onshore Alaskan North Slope held by Great Bear Petroleum Operating LLC ("Great Bear").
"
http://www.youroilandgasnews.com/otto+a ... 18969.html

It's all feeling a bit incestuous!

Cheers
DD
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Oct 28, 2015 9:54 am

DD
Are you still in here ??. it looks like its about to get very interesting..
GL
Tony
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Thu Nov 05, 2015 9:02 am

TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Fri Nov 06, 2015 8:12 am

Morning tony are you holding this for results?
Im not in this and don't like they are drilling faster than first thought?
Is it 25% cos also
Overthebridge
 
Posts: 1274
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Re: 88 Energy plc (ex-TPET)

Post Fri Nov 06, 2015 9:01 am

Morning brox
Ive heard 25% and 60% COS so im quite happy to split the difference at 40%, but no on really knows so i will wait to see how it pans out. It is a perth mafia drill so there is bound to be a leak somewhere. I have ave 0.60 so quite happy to sit n wait for a bit longer. As for the drill being fast that is due to all the oil giving the bit more lubrication, it works better than water. :-)
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Fri Nov 20, 2015 8:28 am

I would bail if you get a spike here tony in the next week!!
Smoke screen buying more acreage imo. They stopped the drill so mates can sell shares I reckon. Gl tho
Overthebridge
 
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Re: 88 Energy plc (ex-TPET)

Post Fri Nov 20, 2015 9:42 am

nah
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Thu Nov 26, 2015 2:37 pm

Back in the 0.6s..
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Thu Nov 26, 2015 3:43 pm

Doc Holliday on shareprophets

88 Energy (88E) was spawned from Tangiers Petroleum. As with many remakes they are often arguably never as good the second time around however 88 Energy appears to present some classic market mechanic traits of a firm about to do exceptionally well.

I won't profess to be an expert! In fact I know very little about the intricacies of daily life as an 88 investor (for avoidance of doubt I hold no position) however a classic market move played out on the 24th November 2015 when the company announced it had completed a strongly oversubscribed placing for $3 million. For those of you old enough or stupid enough to follow the Australian markets it's hardly a bundle of laughs out there raising capital for resource companies and similar to hunting white Rhino it's becoming a dying art.

So what does this move suggest to a mere market mechanic saddo like myself? It smacks of a boys club deal where you know you've had a tidy little down hole event. Surely it can't be that easy, Of course not Shell recently pulled out of Alaska citing titanic risk of icebergs coupled to ever increasing drilling costs within a weakening operating environment and the resource space now is about as popular as a Jim'll fix it medal.

However the roller coaster of analysis remains true to form as the industry eyes become fixated on major neighbouring assets consistently flagging up higher than expected yields similar to that of Repsol’s Qugruk 8 (Q-8) & Qugruk 301 (Q-301) well reaching rates as high as 4000bopd. Onshore is a very different game to offshore which may explain why the 88 story continues to romance the wandering eyes of the retail world as one of the months most talked about stocks.

The company has drilling rebate costs of up to 85%, Solid neighbouring hydrocarbon data supporting its their strategy with encouraging signs of thermal maturity within its block. Assuming you caveat the exploration game with the usual risks of '' Almost anything can happen against the rock and roll results from a gusher '' I'd say there is an obvious punt case to be had at current levels although throwing the kitchen sink in just yet wouldn't be advised either.

However I don't believe for one minute that $3 million flooded in at this stage without prior knowledge or a better than average chance of success. We know that nods and winks run deep and freely within the financial world thus see no reason to doubt things are different here. To be clear theirs a market mechanic flag here just as theirs a technical one worth exploring further, needless to say the marketers on AIM won't be without excitement and 88 Energy appears to have it in abundance.

Fortunes favour the brave and 88 shall soon reveal its hand. Keep your peckers up.
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Fri Nov 27, 2015 9:15 am

88 Energy Limited

Operations Recommence at Icewine #1

RNS Number : 1443H
88 Energy Limited
27 November 2015

27 November 2015

88 Energy Limited

Operations Recommence at Icewine #1

88 Energy Limited ("88 Energy", "the Company", "Operator") (ASX, AIM: 88E) is pleased to provided the following drilling update.

Current Operations
Repairs to the drawworks were finished as at 25th November 17:00 (AK time) at which time final testing was completed prior to recommencing operations. Drilled depth remains at 8,773' as per before the downtime.

Current operations involve pulling out of hole to conduct a routine statutory test of the Blow Out Preventer Equipment prior to drilling ahead through the remaining Brookian sequence.

Fortunately, significant time was clawed back prior to the issues and we currently expect to remain within the Budget despite the downtime.

Further updates will be made in a timely fashion as information becomes available.

Forward Plan
The forward plan is to complete testing of the Blow Out Preventer Equipment and then drill the remaining Brookian section before setting casing above the primary HRZ shale target.

The next casing point is at circa 10,450' before setting 7" casing and commencing coring operations in the lower Hue / upper HRZ, which is the primary target for the Icewine #1 exploration well.

The well is planned to a Total Depth of 11,600 feet and was scheduled to take 30 days of drilling to complete. The primary objective of the well is the HRZ shale formation, targeting a huge unconventional resource prize.

Please refer to the presentation released 5th November 2015 for more details on the well, look‑forward operations and evaluation program.

Managing Director of 88 Energy Limited, Dave Wall commented: "It is great to be back in business and only days away from reaching the top of the HRZ primary shale target.

We thank shareholders for their patience during what has been a frustrating period."





Kuukpik Rig 5 On Location (please refer to the pdf version of this announcement available from the Company's website)

Upon completion of drilling, certain data will be available immediately and will be reported to the market after internal examination; however, the definitive testing of the HRZ shale potential will take several months of data analysis. The pivotal focus will be an extensive evaluation of core material by specialist laboratories, which will cover a number of parameters considered critical for the success of the play.

Conventional potential may also exist in shallower (Brookian) and deeper (Kuparuk) horizons and the well has been designed such that testing of these horizons is possible, if warranted. The drilling of Icewine #1 will deliver first insight to the conventional prospectivity of 88 Energy's acreage to be matured up by the potential acquisition of 3D seismic in the near term. The conventional horizons that will be encountered in Icewine #1 have not been delineated by 3D seismic and remain secondary to the primary target, that being the HRZ shale.
TONY THE TIGER
 
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Re: 88 Energy plc (ex-TPET)

Post Mon Nov 30, 2015 12:06 am

TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Thu Dec 03, 2015 12:05 pm

TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Thu Dec 03, 2015 2:01 pm

Looking good. Wouldn't want to be out of this one over the weekend!!!!
Nedkellylandau
 
Posts: 1988
Joined: Mar 2013
Location: Lost on the Range

Re: 88 Energy plc (ex-TPET)

Post Thu Dec 03, 2015 2:04 pm

Yep
Would be nice to get another bagger before xmas
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Mon Dec 14, 2015 12:02 am

Trading Halt.. Good Luck guys, we fukn deserve a break.. :-)

http://www.asx.com.au/asxpdf/20151214/p ... 5mp5lj.pdf
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012


Re: 88 Energy plc (ex-TPET)

Post Thu Jan 28, 2016 4:43 pm

I dont understand 88e. do we strike oil or not?
londonz
 
Posts: 662
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Feb 10, 2016 4:28 pm

TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Fri Feb 12, 2016 1:07 pm

1p gone.. Sold initial free ride now..
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Mon Feb 15, 2016 8:41 am

http://www.investegate.co.uk/88-energy- ... 25450333P/

It should be an interesting few days for holders.. :-)
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Mon Feb 15, 2016 9:10 am

3p to buy now up 150%.. :-)
Steady has she goes..
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Tue Feb 16, 2016 3:54 pm

well done Tony. i only able to make small profit out of it. hopefully soon time for either JLP or SBLM to multibag like 88e
londonz
 
Posts: 662
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Tue Feb 16, 2016 5:46 pm

Yep sold 80% yesterday @2.5p and left a few in for a Rainy day..
TONY THE TIGER
 
Posts: 2524
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Feb 17, 2016 11:11 am

Cheeky trade in and out today for +42.2% inside 90 mins!

Sometimes you've got to love this game....
Diamond Don
 
Posts: 604
Joined: Mar 2012

Re: 88 Energy plc (ex-TPET)

Post Wed Feb 17, 2016 12:25 pm

DD well done..
This thread is just over a year old and the SP was 0.6p a year later it dropped to 0.3p then within a few days it touched 3p.. I wonder how many waited a year for that news to drop and how many got in this year ?
TONY THE TIGER
 
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