Replies to post #19492 on 88 Energy Ltd (EEENF)

[Beauneedsbiscuits]

I posted yesterday that I see this as a win win situation. A large part of me actually hopes there is no concrete information that comes out until next year. I for one hope that this goes down to where it was before all the hype started around the.004 range.

The fact is we know something now that most didn't know back in November. Based on some of their past drilling and what we believe is a good chance they have found some oil or that their leases have a good possibility of striking massive quantities.... We have a better than average chance of this company hitting oil and a stock price that goes through the roof. The fact is that most of us knew nothing about a small Australian exploratory drilling company back in November....BUT WE KNOW NOW!!!

If the company practically stayed quiet as to their findings, then the average retail investor will get impatient and bored and move on to the next stock and forced this down into the sub pennies. And most likely will forget all about it all together. If this does happen, Personal, Around November of next year I'm going to slowly Start Buying massive quantities of shares while it's still in the sub pennies. If they end up having another sub standard year then the worst case is I probly can't lose much more than getting in on triple 0 prices. BUT.. the other side of that coin is once they start drilling and some of those same retail investors start to remember and start promoting and pumping the stock again.... Any good news whatsoever I believe will once again pushes back towards the 8 cent range. This time around I got in around 0.015-.02. Imagine what my outcome will be if I put in 10 times the amount of money at 0.004.

I see this kind of like knowing for sure what 3 or 4 Of the lottery numbers are going to be. Worst case I win a few $1000... Best case I win a few million!!!

[pokeSTONKStrainer]

I don't think they are at fault for suddenly dropping the "drilling season over news" because, had there NOT been equipment failure and they successfully retrieved the cores they were after, they still would have had time to conduct a flow test. It's not like the season was over on the day the PR was released, there were still several weeks left before the ice begins to melt, so they would have had time to pull the cores, test them, then run the flow test if those cores were positive.

Since the equipment failed, they resorted to sidewell cores, which are still a major tell that provides direct evidence of the presence, quantity, distribution, and deliverability of hydrocarbons. Ailen has already expressed this and you can view additional sources in my tweet: https://twitter.com/HarisRad88/status/1382911286263042048?s=20

I do agree it is the fault of amateur investors (myself included actually as this is the first North slope oil stock I ever invested in) that we didn't realize how short the drilling season is on the North Slope and how significant the late start due to administration nonsense was. Had they started in the beginning of February as planned, perhaps they would have had enough time to at-least dig the sidetrack well this season if the equipment failure occurred and scooped up the samples they were originally going after. Nevertheless, the sidewell cores along with corresponding mud logging (and other logging data) will still be able to provide the information needed to confirm, at the very least, an unappraised discovery, which I believe is the precurser to an actual/official discovery once a flow test is conducted and proved adequate/successful (correct me if I'm wrong).

I think my biggest gripe is the PR that seemed to highlight the negatives of the operation and bury the positives. IMO, had last weekend's PR been released instead of the Doomsday PR we got, we would have seen $0.12+ EASILY. But I digress. What happened, happened, and we can only try to look at the bright side here and that is that they confirmed oil is there, Merlin is the best prospect they ever drilled, and if the sidewell cores return amazing results, we should be able to see another decent short term pop (not taking into account any official buyout announcement that could be made, which I don't think is truly realistic at this point in time, even if there is a hint of this rumor being possible with certain facts present such as new oil leases are currently blocked by administration and Willow is supposedly dealing with legal issues, etc).

At the very least, this is a play we can put in our back pockets and make some serious cash on next year if we are able to load up in subpenny range over the summer. There's always ATLEAST that to look forward to after this hard lesson many of us had to experience lol.

My 2 cents of course. GLTA. Hope next update gives us something good.