88E - 88 Energy

[Anmar]

Re: TPT - Tangiers Petroleum

4th June - Foster Stockbroking research report:

RECOMMENDATION
● We recommend TPT as a SPECULATIVE BUY recommendation and a price target of
$0.70/share. We consider the risk/reward proposition to be highly compelling and view
significant divergence between potential uplift in valuation and market capitalisation to
justify a speculative investment.

 

[Anmar]

Re: TPT - Tangiers Petroleum

14th July

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) (“Tangiers” or the “Company”) is pleased to provide an update on the drilling of the TAO-1 exploration well, located offshore Morocco. No major operational issues have occurred to date and the well is expected to intersect the Assaka and Trident objectives within 60 days from spud, as
previously announced.

As the well has been designated as “tight”, no information related to depth or formation will be provided during the drilling, beyond what is required by the ASX and AIM continuous disclosure obligations.

The depth should be reached around the 25th Aug 2014.

 

[System]

On March 4th, 2015, Tangiers Petroleum Limited (TPT) changed its name and ASX code to 88 Energy Limited (88E).

 

[greggles]

Is 88E forming a cup and handle pattern? It's had a nice run up from under 2c to around 5c since October last year and the last two trading sessions have seen gap ups.

The recent activity seems to be related to imminent production testing at the company's Icewine #2 well: https://www.nextoilrush.com/88e-just-days-away-production-testing-icewine2/

 

[greggles]

I'm not quite sure how to interpret the three Operations Updates that have been announced by 88E since 5 June, but the share price has comprehensively tanked.

 

[Parse]

88E have announced (today in fact) an increase in lease agreements 45,239 acres to their operations on Alaska's north slope. This brings their total acreage up to 371,478.

They have a farm out and also seismic results due on some of their holdins for Q4 2018 and this could mean more good news next month. 88E is currently trading at their lows around 2c so it should not take much to see an improvement in their SP.

 

[PZ99]

October's unlucky recipient is:

88E

New shares to be issued at $0.018 a share

http://clients3.weblink.com.au/pdf/88E/02030014.pdf

You... did this on purpose right?

 

[Parse]

I just know how to pick 'em

 

[PZ99]

Winx-1 is a duster and they're going to plug and run.

As expected - back to 1.4c where I'm taking a small parcel

 

[PZ99]

^ After having sold that parcel I got back in today.

Not really bullish on it based on its current funds but it's cheap at this level...

If I tip it in the next comp I can average down you see

 

[System]

Alaskan North Slope Oil Explorer 88 Energy is Preparing a Billion Barrel Farm Out

 

[frugal.rock]

Small position taken.
Figured there's not a huge risk on the downside consideration given to its been consolidating since April after covid crash.
Hoping for a bit of upside, @Garpal Gumnut dartboard style.
The dart is thrun, and stuck!
3 year chart for fun...

 

[System]

88 Energy upgrades Net Pay from Charlie-1 Well – confirms large oil discovery

 

[peter2]

Woo Hoo! @frugal.rock hits new oil discovery.
When this new discovery is dispersed across the humongous number of issued shares (8.9Billion) there's not much of a rise. It's a good rise in % terms though.

ps: Interesting that the "System" posted this notice. Does the "system" have an interest or is this a test of what may happen with this new format? Important (price sensitive) ASX announcements included in stock specific threads. Interesting.

 

[frugal.rock]

Woo Hoo! @frugal.rock hits new oil discovery.
When this new discovery is dispersed across the humongous number of issued shares (8.9Billion) there's not much of a rise. It's a good rise in % terms though.

ps: Interesting that the "System" posted this notice. Does the "system" have an interest or is this a test of what may happen with this new format? Important (price sensitive) ASX announcements included in stock specific threads. Interesting.

Looking at a long term speculative play. Realistically, the plan has it to be held 18-24 months, unless of course it pops over 100% before.
Some speccie oilers? have been popping... (SAN, EER, GGE)

 

[frugal.rock]

"23rd September 2020
This announcement contains inside information

88 Energy Limited
Seismic Attribute Analysis Increases Confidence at Peregrine

88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) is pleased to provide the
following update related to Project Peregrine, on the North Slope of Alaska.

Highlights

• Advanced seismic attribute work has identified several similarities between the key prospects
at Project Peregrine and existing discovered fields nearby

• Fluid factor at Merlin and Harrier Prospects analogous to that at the large Willow oil field north of 88E lease position

• Farm-out discussions at Peregrine progressing well, on track for 1Q2021 drilling"

See full ASX announcement

 

[frugal.rock]

19th October 2020
This announcement contains inside information
88 Energy Limited

Project Icewine Working Interest Increased Ahead of Independent Resource Estimate

88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) is pleased to provide the
following update related to results from the Charlie-1 appraisal well, on the North Slope of Alaska.
Highlights

• “Area A” leases at Project Icewine now formally re-assigned to 88 Energy

• Independent resource estimate at Project Icewine, integrating the results from Charlie-1, due within weeks

• Good progress on the Project Peregrine farm-out – deal on schedule for year-end close

• Permitting and planning for 2 well program at Project Peregrine on track for 1Q 2021 spud

Held.

 

[frugal.rock]

Placement to Raise $10.0 million at $0.006 per share completed announced yesterday.

Previously,
10th November 2020

This announcement contains inside information

88 Energy Limited Large Independently Assessed Resource at Project Icewine

88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) is pleased to provide the following update related to its Project Icewine on the North Slope of Alaska.

Highlights
• Total Prospective Resources of 1.77 billion barrels of oil equivalent*

• Substantial oil volume in the Seabee formation – 1.4 billion barrels*

• Farm-out process for 2022 drilling at Project Icewine to commence immediately

*Gross mean unrisked prospective resource

Held with a medium to long term speculative outlook.
Perhaps seasonality tied with oil price recoveries will bring opportunity.
Price and volume movement indicates "more than a sniff" of interest.
Entered $0.007

 

[peter2]

8.9 Billion shares issued so far before this cap raise which will issue another 1.68 Billion!
This is on my never to be traded list.

I will admit that the chart shows a barcode that has some life in it.

 

[frugal.rock]

Held with a medium to long term speculative outlook.

I will admit that the chart shows a barcode that has some life in it.

This is on my never to be traded list.

If I sold at current price being $0.009, a profit of 28.6% is had (pre brokerage) and with $1.4k into it, I don't mind letting it sit and fester for that hopeful pop.