Cenkos Securities released a research note with a BUY rating on 88E today.
In summary for valuation they say :
Valuation - Drilling of the Charlie-1 well will be a defining moment for the Company, as it seeks to prove the conventional potential of the Project Ice wine acreage. We have updated our model for both the HRZ Shale and the Yukon Leases, whilst updating a full DCF model for the Icewine Conventional acreage. The result is an increase in our valuation and our price target to 4.8p and reiterate our BUY recommendation.
Whilst the early stage nature of 88 Energy’s portfolio makes our valuation speculative, the upside potential is huge, unrisked, we value the 88 Energy portfolio at 47.8p per share or US$4.8bn.
If anyone is interested I will post a link to the full note in PDF format in a couple of days, its a very interesting read.
Cenkos Note on 88E
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $6.857K | 3.073M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 289 | 346631721 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 573714669 | 217 |
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