oohthatscheep
21 Sep 2017
Re: Ok, so where are we? give it a few days to see where the price settles, around 0.9/1.00 or 1.2/1.3 and you can start some genuine trading, well you know what I mean
newguy4
21 Sep 2017
Re: Ok, so where are we? Time to batten down the hatches for the winter! eyes closed and dont look at the sp until spring (mabe just a peek to top up)
bedwetter
21 Sep 2017
Re: Ok, so where are we? 8th sept"Make no mistake this will plummet if news is bad but let's have a wager it doesn't touch those levels without bad news??????"It was going nowhere near those levels you mentioned until the bad news and you know it haha. You made one trade after months of hindsight predictions and you sold right away apparently at break even, so I wouldn't think about doing this trading lark for a job just yet bud but god lives a trier. Best wishes.
bedwetter
21 Sep 2017
Re: Ok, so where are we? The reason its plummeted is via an rns we've been through this captain hindsight haha it was steady until the news.
Ripley94
21 Sep 2017
Re: Aberdeenman " Encouraging trends" says Winnifrith today.Well shut in for long Alaskan winter... Placing looks likely.
rRomeo29
21 Sep 2017
Re: Ok, so where are we? Hallowed,I sooo love this day-trader / weektrader business!!! I would actually work for free if I look at it. Maybe this is why I started ti share certain - very valuable TA research.Ha ha, not much of spirituality in this business though! And not even a chart. Its merely the trading-patterns that go on behind the scenes. Hey, and whats the bad news anyhow...? I still didn't get it, because of the technical English.Can someone please translate this into normal tourist-English?Thanks!---------- ---21 September 2017"88 Energy", "the Company", "Operator"
is pleased to provide an update on Project Icewine, located onshore North Slope of Alaska."
rRomeo29
21 Sep 2017
Re: Ok, so where are we? ---------- -------"I'll be piling as much as possible into this come january feb if we are still trading around at these levels." bedwetterJust make sure keep an eye on the chart price!! The total bottom out price that we have calculated back in July pointed to about 1.10 - 0.90p. I truly hope it finds a grip here, but it is not sure now. Too much negative reaction in one day.Allow me to see the weeks closing, tomorrow Friday, and the new Sp targets on tradesignal-online.
rRomeo29
21 Sep 2017
Ok, so where are we? The breaching of the vital 2.65p back in July created a severely bearish chart picture. Forget the word "chart", its simply the trading patterns that count.It took a few evening of hefty discussions with one or the other investors when I stated that this has a sure thing chance to see 1.10p, but at the end of the day the TA prevailed.I hope that some of the Ps have managed to take cover when 1.80p fell apart.---------- ------24-08-17As for me, I think this is likely to retrace to about 1.10p (and first to 1.40p). Confirmation comes when support around 1.85-1.80-1.78p is breached. DYOR:[link] this week the Sp started to slip. Of course its just low volumes. But the mentioned target 1.40p is very likely to be reached. And we still need to wait for the long term bearish confirmation as from 1.75p."
Hallowed
21 Sep 2017
Re: R29 - TA and Secrets of the Universe Hi R29, well done on your TA assessment. Proved to be right. I too am trying to learn basic TA and learning to read the signs as it can certainly help and there seems to be something behind it that we were never taught at school. It is all definitely connected to spirituality - be it at an intellectual level trying to understand the numbers behind reality (difficult to do and hence why TA is difficult to grasp really well), or evolving spiritually through the heart (also difficult, as we have been lead the wrong way in society due to a lack of control of our emotions - fear, ego, attachment, impatience etc).Best of luck with your investments (and those who lost out here as well, hope it comes good for you in the end if you still hold).
Push2Gush
21 Sep 2017
Re: that RNS reads wrong 35psi to 739psi in 2 days will be bursting to flow oil come spring.Right O Bedwetter, if you think that the above is some kind of good result relative to pressure build up then I say GL to you, but you are going to need it in spades.
bedwetter
21 Sep 2017
Re: that RNS reads wrong They ran out of time trying to unlock an unconventional well breaking into new territory, I'm confident it will flow but think this will be left to drop in price as the market hates delays. I'll be piling as much as possible into this come january feb if we are still trading around at these levels 35psi to 739psi in 2 days will be bursting to flow oil come spring.
EasyBrent
20 Sep 2017
88 is not the first casualty of the Alaska credit scheme 88Energy will not be the first explorer who will get into significant problems due to not recovering their tax credit. 88Energy might be slightly more stupid than other operators and borrowed on the tax credit, which may result in them needing to restructure.BlueCrest, stopped drilling, the Stat of Alaska owes them $75m, which they haven’t received. Caleus Energy postponed appraisal drilling at the 6bn barrel Smith Bay discovery due to funding issues.hxxp://www.alaskapublic.org/2017/08/14/bluecrest-is-latest-company-to-stop-work-citing-states-defunct-cash-for-credits-scheme/
EasyBrent
20 Sep 2017
Very challenging cash situation 88 Energy Cash Situation Very Challenging After the Icewine #2 Well- The company had $A 31.553m in cash at Q2 end (page 3, Q2 Quarterly Report)- The company expects to burn $A18.7m in cash in Q3 (page 4, Q2 Quarterly Report).-> Leaving the company with $A 12.8m in cash by Q3 end- The company has $17.7m in debt ($A 23m) which is due for repayment in 2018 (page 4, Q2 Quarterly Report). -> The end of Q3 cash balance cover only half of the debt up for repayment in 2018.- The debt is secured with the Alaska tax rebates, but 88 Energy only expect to receive $1m in the next 12 months as the Alaska State has postponed repayment of the tax rebate due to significant budget shortages.- 88Energy expected cash outflow for Q3 was announced 17 July, many weeks before the company opened the flowback after the pressure build up, which so far has been unsuccessful. A fair assumption is that 88Energy will have additional cash outflow in Q3 and beginning of Q4 due to these testing issues.-> Its very likely that 88 Energy cash balance after the Icewine #2 well has been completed will be well below $A 10m.-> 88Energy wont have enough cash to repay the Bank of America debt next year.-> It will be very challenging if not impossible to raise equity for 88Energy when the first $10-15m will be used to repay debt.This stock will most likely trade down to 0.5p by the end of this year.88Energy Q2 2017 report hxxp://clients3.weblink.com.au/pdf/88E/01875337.pdf
Investor_Tester
19 Sep 2017
Re: that RNS reads wrong I'd like to think theres more beneath the gas. Gas will always be above any oil shows. Considering 2-4mcf flows , although that's not massively commercial , its still gas and could still contribute some value.nervous squeky bum time before next week announcement GLAIT
Push2Gush
13 Sep 2017
that RNS reads wrong How can they have 76% hydrocarbons when they stated it is flowing at 55bbl/d frac fluid Maybe 76% if the pishant gas that is coming with the frac fluids, but it isn't much to shout about yet, so no surprise the Sp has slipped.Highlights· Currently flowing back naturally on 8/64 choke at ~55 barrels per day frac fluid· Minor hydrocarbon indications via flow rate of 2-4mcf of gas per day, with a maximum rate of 8mcf of gas per dayAnd then lower in the detail:To date the rate of flow has been unstabilised at between 2 and 4 mcf per day made up of 76% hydrocarbons, 20% atmospheric gases and 4% inorganics. The produced hydrocarbons comprise 93% methane with 7% heavier fractions.
