$EEENF 104,000,000,000$ PROFIT POTENTIAL!?!?!(speculative) $EEENF may be ready for a HUGE breakout IMO 88Energy Ltd $EEENF, may be Extremely undervalued. (imo)
This is why!
$EEENF (imo) has massive revenue / ROI potential / small market cap (imo). < these are good things to see (imo) There's a massive catalyst EEENF announced commencement of live drilling for 1.6 BILLION barrels of oil.
$_$.... wow...
IM GOING TO BREAK THIS DOWN FOR YOU GUYS! <3 ^_^
(speculative) $EEENF Projects 1,600,000,000 barrels of oil
oil price per barrel $65 (avg)
1,600,000,000(barrels of oil) x 65(price per barrel)= 104,000,000,000$ <<< Over 100 Billion Dollars!!<<
(speculative equation based on the projections of $EEENF and THE PRICE PER BARREL OF OIL)
WOW!!!! $EEENF's projection of 1.6b barrels of oil is worth over 1 / 10th of a Trillion dollars!! based on the projected amount / the avg price per barrel of oil today!!!
WOW!!! that is mind blowing when you break it down...
I AM LOADING UP ON THIS ONE!! $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$4
$EEENF looks like a monster play! I can see this SILVER in NO TIME! (imo) GLTA MAY THE ODDS BE EVER IN YOUR FAVOR -CC
TLDR: The short and skinny of this article is that we should start seeing preliminary data from the Merlin-1 Well fairly soon; within 5-10 days 88E should have an idea of the prospectivity of the project.
Good news coming soon IMO!!!
FULL ARTICLE:
88 Energy started drilling its Merlin 1 exploration well in the National Petroleum Reserve-Alaska on March 10, but because of delays caused by a Biden executive order, the second Peregrine project well, Harrier 1, is “unlikely” to be drilled this winter, the company said in an operations update.
Merlin 1, which is being drilled with Rig 111 by one of the company’s Alaska subsidiaries that is headed by Alaska geologist Erik Opstad, will initially be drilled to 1,500 feet, then surface casing will be installed and the blow out preventer system tested, all of which is expected to take approximately one week.
“The well will then be deepened through the target horizons in the Nanushuk formation to a maximum total depth of 6,000 feet,” the company said. “Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation, which is expected take three to five days.”
Next, “a sophisticated wireline logging suite” will be run, including sidewall cores and downhole sampling, which will take three to five days.
“If the results from the wireline logging are encouraging, then the well will be completed with casing and a flow test conducted,” the company said.
“As part of a standard cost review, 88E’s share of the cost of Merlin 1 has been revised to US$4m (increased from US$1.4m). The main contributing factors to the cost increase are delays associated with the Executive Order regarding the issuance of the Permit to Drill; costs associated with shutdown and re-start whilst clarification was attained regarding the Executive Order; delays associated with cold weather and the subsequent knock on to mobilization costs as a result of expediting activities to meet the operational timetable. The company’s current cash position is US$13m, which more than funds its share of the drilling of Merlin 1 and the company’s other planned activities,” 88 Energy said.
In its 2020 annual report, 88 Energy’s non-executive Chairman Michael Evans said March 9 that Merlin 1 is “targeting 645 million barrels of gross mean prospective resource” and Harrier 1 would target a gross mean prospective resource of 417 million barrels.
In the chairman’s letter, Evans praised Alaska’s North Slope, saying its source rocks “have been described as unbelievably rich and prolific, having generated and expulsed about 1.5 trillion barrels of oil. Yet only a small fraction of that 1.5 trillion barrels has been found, leaving vast potential remaining to be discovered.”
“Access to existing infrastructure, a very supportive and stable state government and significant exploration upside,” are three of the things 88 Energy likes about the state, Evans said, noting 88 Energy operates 444,517 net acres on the North Slope.
“Our prospective land holding is now of a size one would normally associate with the big end of town and provides continued scope to attract partners,” he said.
By Trevor Hoey. Published at Mar 11, 2021, in Energy
88 Energy Limited (ASX:88E; AIM 88E) has just commenced drilling the Merlin-1 well which will initially be drilled to 1,500 feet, then surface casing will be installed and the Blow Out Preventer System tested.
This is expected to take approximately one week to execute after which the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet.
The Merlin-1 well is targeting 645 million barrels of gross mean prospective resource as outlined below.
Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation which is expected to take three to five days.
A sophisticated wireline logging suite will then be run, including sidewall cores and downhole sampling. Wireline logging is expected to take five to seven days.
If the results from the wireline logging are encouraging, then the well will be completed with casing and a flow test conducted.
Get our newsletter with an exclusive article straight to your inbox Your email address KEEP ME POSTED US$13 million in cash to pursue Harrier-1 next season 88E said that recent delays commencing Merlin-1 could well result in the previously planned Harrier-1 not being drilled until next season.
There has also been a financial impact from delays mainly associated with the issuance of a permit to drill that should see the costs of the well attributed to 88E increasing from US$1.4 million to US$4 million.
Notwithstanding this financial impost, the company’s current cash position is US$13 million which more than funds its share of the drilling of Merlin-1 and the company’s other planned activities.
Consequently, management’s focus is firmly on achieving success with Merlin-1, and on this note managing director Dave Wall said, "Drilling has now commenced at Merlin-1, with results expected within the next 4 weeks.
"This is an exciting and pivotal time for the company and our shareholders.”
The timing of a potential oil strike couldn’t be better with the Crude Oil WTI Index hitting a high of US$67.98 per barrel just last week, a level it hasn’t traded at since 2018. (END COPY) $EEENF THINNING OUT AND HEATING UP!! $EEENF ON BREAKOUT WATCH! (not full alert yet but a definite heads up!)
Some exciting Action is starting over here!
018's soon!
wall @ .02 looks like the wall will then become the new support floor. (imo) (feel free to back me up here chart pros! << --- <3
If $EEENF ASK GET SLAPPED and breaks past .0199 $EEEFN may breakout / GAP UP!
SILVER SOON?!(speculative)
GLTA MAY THE ODDS BE EVER IN YOUR FAVOR! -CC
$EEENF YOU HAVE MY ATTENTION!!$_$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $EEENF TO THE MOON BABY! <3 (We have enough fuel to get there haha) GLTA MAT THE ODDS BE EVER IN YOUR FAVOR -CC
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