Nothing short term as this company only has enough confidence and funds to drill once a year, then sadly unable to flow oil again and again, 88 is like a part time company. Then after it fails then spends rest of year announcing how they have oil but in different locations but everyone else things otherwise, cycle repeats.
Going forward we are in the communicate everywhere cycle, as they have to find a FO partner, meanwhile SP to fall further as they have to announce another CR, maybe a 2 shallow well drilling program of the recent TO of XCD as 88 have no ability or confidence to get oil flowing on tenements held, plus can no longer go it alone to drill our deeper wells which is required on all our large acreage. Sad isn't it. How did we get to this sad situation and board still remain is beyond belief, holders should stand up and ask for resignations imo, but will never happen as 60% of register held by institutions and 88.
Also they might have the only chance to do the dreaded Consolidation (over 10 Billion shares on the register) as the 2 wells short time delay apart in drilling March/April 2021 is probably the plan unfortunately.
If fail to get oil to flow then company done and dusted especially if consolidates SP smashed back to this level, holders on massive losses imo. Oil flows may survive until the next failure then collapses in SP game over then. So we only have 2021 or 2022 at best then lights out, then fire sale imo is my prediction going forward. Most holders will want out after averaging after this CR and drill. Most holders have absolutely no confidence in 88 after then imo.
Predictable cycle isn't it for most of us but sadly we will again been forced into reading the pumpers postings of how brilliant 88 is again, still waiting to see these supporters get it right after 4 long, long years. Certainly wouldn't be buying until the CR cycle is announced. DYOR as I know absolutely jack according to the pumpers, LMAO!!! We are all suckers, lol. Here we all go again but this time we are at 1/2c, yes that's right 0.005c with CR coming, seriously how on earth can our leaders remain and be allowed to promote this cycle again is
@@@@@@@@@@@@@@@@@@@@, Say no more is best!! Good luck Deinvest!! Don't make the bad decisions of believing like most of us LTH's. Make a $ then sell as you will prior to next wells drilled.
(20min delay)