88E Broker Notes, page-30

usernam,

Anyone that is investing in 88e, should in my view, not be doing so based on any Cenkos report.

Cenkos are 88e's UK based company advisors, their job is to pump the tyres. Not once has a Cenkos prediction come close to reality.

For Cenkos to state,

"As such, 88 Energy’s business model means that it is not overly reliant on a single well or a single project, providing shareholders with some degree of downside protection in the event of a disappointing result at one of the Company’s projects. For example, at Project Peregrine, the Merlin and Harrier prospects make up just 16% and 1%, respectively of our overall risked valuation. This is in stark contrast to 88 Energy’s peers, where a single well contributes c60-70% of the overall valuation"

Is disingenuous at best. Drilling is a binary play, strike oil, great news, miss oil, share price gets dumped. There will be very little in the way of downside protection if Merlin(and possibly Harrier) come up empty.

Just check the share price reactions to previous drill results.

Just my thoughts.

Happy Friday

Cheers and beers