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Jumped in here today, hard to ignore the dollar volume
FDFT #4 on breakout boards, should be a lot of new eyes here tomorrow.
Razor thin. This moves on air
Agree. Someone knows something for this much volume completely out of the blue
Holding up well on low volume
True they are ripe for the picking
To think they could have already been Nasdaq uplisted by now if not for the R/S. I know, beating a dead horse...
No worries here, with oil continuing to rise and expected to hit $80+ /barrel soon, 88E's massive reserves of oil will be looking juicy and ripe for many prospective buyers.
Yep he is definitely the real deal "industry veteran", and has a sizable vested interest in 88E.
Erik Opstad:
Oil industry veteran
Mr Opstad’s energy project management and technical experience includes working on BP’s onshore and offshore operations in Alaska.
In 2000, he founded oilfield services company ELKO International, which is focused on well planning, design and permitting, drilling management, well completions and restorative activities. ELKO has also served as an expert witness for various arbitration panels and state commissions.
In 2008, ELKO and partners acquired the Badami field and pipeline from BP and Mr Opstad acted as drilling, wells and general manager before the oilfield was sold onto Miller Energy in 2014.
Since then, Mr Opstad has assisted 88 Energy (ASX: 88E) with its North Slope exploration projects.
He also recently formed Jade Energy to develop oil resources within the Point Thomson field in Alaska.
Thanks for sharing. That response speaks to the legitimacy of 88e imo. Holding all my shares.
Wow look at how thin this trades
Great read. Should be stickied.
HOD close would be sweet
Seems like shares are pretty locked up here
Looks to me like they will have MORE oil than expected. The chances of a major buyout have actually increased imo. The big dawg oil companies are not looking at what they can get over the next couple weeks, they want to know what they can get over the next 5 - 10 years, and that is shaping up to be a massive reserve of oil. IMO
Thank you for the update.
FOMO is real
Would prefer a JV over a buyout but, if a buyout were to happen it would happen soon, because the price tag for 88e will just get more expensive as oil continues to rise. Conocophillips paid $13 billion for Concho Resources and its 1 billion in proven reserves end of last year, but that deal was negotiated when oil was $40 a barrel, now it would have a higher price tag.
Yep exactly, it did NOT fail. They are simply focusing their resources on Peregrine this year and will revisit charlie-1 in 2022.
Maybe because oil was $20 a barrel in April 2020. Now it's over $60. Whole different ballgame now.
That's interesting. More recent updates seem to indicate otherwise.
Project Icewine coming in 2022 makes this an easy longterm hold.
I hear the distressed look is in nowadays
OK, but that would be the net from merlin-1 alone. A buyout would include all of their assets, and 50% interest in 1.6 billion Boe would still be 800 million net to 88e from project peregrine. Then there is project Icewine which is projected at 480 million Boe net to 88e. So we have conservative estimate over 1 billion Boe to 88e.
Agree with you. If they announce before us market opens and it runs to .50 cents ASX traders would be mighty pissed. They are an Australian company they wouldn't want to alienate their own country's shareholders.
Umiat no brainer acquisition. Umiat has their own year round airport.
https://www.faa.gov/about/office_org/headquarters_offices/ato/service_units/systemops/fs/alaskan/alaska/fai/arpt_photo/brooksnorth/umt/
Here you go. Have a nice flight. Report back if you don't freeze to death.
https://www.frontiersman.com/business/oil-explorers-return-to-umiat-site-of-early-1945-north-slope-oil-find/article_e324eba6-54b5-11eb-ac0f-afdee485c5ac.html
However, what eases logistics challenges is that Umiat has a permanent year-around airport, a legacy of the U.S. Navy work, that is now maintained by the state of Alaska.
I tried to order the annual report myself a few weeks ago online. Never received anything, never got charged. Maybe you have to call it in.
You forgot 8 zeros
Setting up for a huge run
Imo I think it could be closer to the high end estimate based on early reports. The 1.6 billion estimate was a mean average estimate between low and high. Towards the high end would be closer to 3 billion boe.
What's another 10 billion shares here or there? Lol
Welp, doesn't look there's gonna be a dip tommorrow now does it :o
Sorry hal the monster run is happening now. In 6 months to a year this will be consolidating in the $1 to $2 dollar range.
Multiple successive gap ups incoming
You really think so? EEE$$ looks unstoppable. I'm in both so all good with me
This is unstoppable now :))))
Nice day here. This may be running in sympathy with EEE$$