About a year ago I got interested in investing in junior oils. Two names came up that looked very interesting to me - 88E and FAR.
Over the last year the fundamentals of both have looked great. In ground billion + barrels of oil potential etc etc.
The SP of both has not looked to great for various reasons.
FAR recently successfully completed another hole and if the SP is any indication the market said "so what!" IMO! Perhaps good results in their remaining two holes will make "long suffering' SHs smile some more.
Both companies are exposed to the same POO.
Beyond that comparison is not very easy with:
FAR 15%, offshore, JV problems, etc.
88E 78%, onshore, unconventional test, north slope, good infrastructure etc
The query I have is why would the market react to 88E at 100+ BPD flow rate all that differently from how it has treated FAR after 6 successful holes.
ASX Today, page-5521
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Change
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $52.20K | 26.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1793698 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 591109894 | 215 |
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| Last trade - 10.37am 02/09/2024 (20 minute delay) ? |
| 88E (ASX) Chart |