Up until this point going off previous track record, no one would I guess if a newcomer was to look at the company's terrible past performance, BUT!!
1. Company very good at raising money, 20 Billion SOI and having this many shares, many people are vested into this whether they like it or not. Some ready for another round of big profits and some averaging down from big losses. Hugely liquid stock which is good to make $$ if one understands the wire logs and times it well.
2. Stock at almost the low point so SP upside is certain imo, easy to get 2-4x current low price and bail before results know. If follow and understand the drilling reports and wire logs closely and in detail and decide to hold and if the well is commercial, SP will go ballistic due to sheer volume of shares on market and could go to 6-10c. Hit 9.5 on a duster 2 yrs back. Average well SP around 4-5c from past wells
3. Listed on 4 international exchanges - ASX (88E), AIM (88E.L), OTC (EEENF) and Hamburg (POQ.HM) so this gives massive global exposure on share forums and twitter. Such as Proactive investors, Hot Copper, Reddit, Stock Head etc plus company pays 3rd parties like Next Investors to pump a good story as they do every year. Plenty of video media presentations also. Basically, this stock over communicates very well imo to the market prior to spudding and during drilling. Just have to not listen to the paid 3rd parties, lol but many don't and helps SP in any case which is a good thing.
4. Importantly PANR is booming, their neighbour has found plenty of commercial oil recently and their tenement flows into this drill location. 88 bought some of their 3D so have finally found a good location for once to drill, which greatly increases the COS and minimises their risk imo by using this proven and successful company's data.
5. 88 finally stopped wandering all over Alaska like headless chooks and throwing darts at locations, lol, imo, by previously doing conventional high risk and very expensive winter wells, using poor quality survey data. They are now back where they began and the brains trust PB before he sadly departed said where oil was. The IW acreage.
6. DYOR etc etc, as it's a huge trading stock and we are all here not because we believe in the 88 team, I certainly don't, but believe that the SP will rally prior and during drilling this well, irrelevant of finding oil or not. Timing is everything! So, throw your how to invest book out the window imo, lol, no real fundamentals or logic here with this stock, just pure speculation and gambling as we all go off past SP rallies. All the best and good luck with whatever you decide.
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Mkt cap ! $57.78M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.2¢ | $61.94K | 27.76M |
Buyers (Bids)
No. | Vol. | Price($) |
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606 | 890585595 | 0.2¢ |
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Price($) | Vol. | No. |
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0.3¢ | 440077690 | 107 |
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No. | Vol. | Price($) |
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152 | 775019249 | 0.001 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.003 | 434054078 | 106 |
0.004 | 365522345 | 175 |
0.005 | 135880259 | 79 |
0.006 | 54002122 | 50 |
0.007 | 245253169 | 38 |
Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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