It could be economic, it might not be, that is why they are drilling a production well to find out, paid for almost fully with funds in hand.
There is almost zero chance no oil will be produced, some chance it will be economically viable (a reasonable chance some think, based on current info to hand).
The share price could go up or down, based on the production test well results and the indicated economics, along with the price of oil - that is why 88E is a speculative investment - it is a crap shoot, but not one with unreasonable odds, IMO.
I think everyone knows what they are getting in to, and the chances of both boom and bust.
If you don't like the risk reward ratio as you understand it to be, feel free to purchase some other share of the many on the market.
Melbourne 88e'rs, page-207
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $72.44K | 36.26M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 392 | 1066067236 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 58783555 | 8 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| 88E (ASX) Chart |